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Authorities in Poland have realized how inapplicable their decision to tax all crypto transactions really is. A high-ranking official from the Finance Ministry said in an interview that his department “accepts the irrational effect” of the tax it wanted to levy on every purchase and sale of cryptocurrency, regardless of their profitability. Other reports suggest that Warsaw has no intentions to strictly follow the letter of the current tax law before it develops a comprehensive approach towards the crypto sector. Also read: The Government Dilemma: How To Tax Something One Pretends Does Not Exist Temporary Abandonment of Irrational Ideas The Polish Finance Ministry intends to issue a new regulation to “temporarily abandon” the tax on transactions with virtual currency. It also plans to carry out “in-depth analysis” and prepare “system solutions” to regulate this particular economic space. The move comes after an interpretation of the tax code in April prompted angry reactions from the country’s crypto community, an online petition, and even protests in Warsaw. “The Ministry of Finance has accepted the irrational effect of the PCC tax on cryptocurrencies,” Deputy Finance Minister Paweł Gruza recently told Business Insider Polska. He was commenting on his department’s decision to impose the Polish “Civil Law Transactions Tax” (PCC in Polish) on all crypto transactions. “So far, the Ministry hasn’t done anything about the PCC, except for recognizing cryptocurrencies as property rights, which automatically means obligation to pay the civil law transactions tax,” he noted. Gruza was referring to a controversial decision to tax crypto incomes and profits, which was announced less than a month before the end of the tax campaign in Poland on April 30. In an official position published last month, Ministerstwo Finansów said that Polish residents should report on their tax returns all revenues from trade and exchange for cryptocurrencies like bitcoin, litecoin and ethereum. The notice reads that crypto incomes and gains are subject to personal income tax in accordance with the current tax legislation. Moreover, the ministry insisted that all purchases and sales of cryptocurrency, considered transfers of property rights, should be taxed regardless of the profit or loss made. The tax rate for these so called “civil law transactions” is only 1%. However, as it does not depend on their profitability, traders could potentially lose all their funds to taxes. A recent update, quoted by the Polish Press Agency, indicates that the ministry has had a second thought on the subject: Taking into account the specificity of trading in virtual currencies, which boils down to trading these property rights through their purchase, sale and exchange, and therefore entering into multiple sale and exchange contracts, the entity that trades the virtual currency may be required to pay tax in an amount that often exceeds the funds invested. As a consequence of this realization, plans to tax crypto transactions have been abandoned. The new regulation on the matter is expected by June 15. Protesters Gather in Front of the Finance Ministry The initial interpretation of the Polish tax law, which has not been updated to encompass cryptocurrencies, quite expectedly drew negative reactions from the Polish crypto community. Its members immediately organized an online petition blaming the government for effectively restricting access to the growing cryptocurrency market. The tax regime was imposed without any consultations with the affected parties. There are indications that the strong backlash was the main factor that forced the Finance Ministry to rethink its position. After meeting protesters in front of the ministry last month, Deputy Finance Minister Paweł Gruza announced: “There will be no PCC tax on trading of cryptocurrencies before any final solutions are worked out, which will happen in no less than two years. However, we maintain the obligation to settle the personal income tax, while working on temporary solutions.” Mr. Gruza also said that “unfortunately” those who had already paid the civil law transactions tax, would not get a refund. “We are working on legislative solutions to solve this problem,” he assured. The official added that a working group has been set up to develop “simple and transparent taxation rules” regarding cryptocurrencies. According to the Polish outlet Kryptowaluti, there is hope that the upcoming legislation will exclude the PCC tax. A new law is expected to “rationalize” the income tax regime in Poland, as well, which currently has a progressive scale with two brackets – 18% for annual incomes of up to PLN 85,528 zloty (€20,400), and 32% for those above the limit. The changes should be introduced next year. Some reports suggest that Polish crypto investors may be granted additional tax exemptions in that respect, although there has been no official confirmation of that. On the contrary, the track record of the Polish government so far proves a rather hostile attitude towards cryptocurrencies like bitcoin. Earlier this year the executive branch of power in Warsaw approved a draft law aimed at bringing cryptos under the traditional anti-money laundering and counter-terrorism financing provisions of the Polish legislation. Financial authorities in Poland have been accused of spending taxpayers’ money on smear campaigns against decentralized digital currencies in at least two occasions. Recently, the country’s Financial Supervision Authority (KNF) issued a new tender order to plan and conduct a campaign aimed at “building awareness” for the risks of investing in cryptocurrencies, listed alongside pyramid schemes and unsupervised forex activities. Earlier this year, it was revealed that the Central Bank of Poland and the KNF had paid a popular Polish Youtube network to produce anti-crypto videos. Do you agree that the strong reaction of the Polish crypto community is the main reason for the decision to abandon the tax on crypto transactions? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a store. And a forum. And a casino, a pool and real-time price statistics. The post Poland Backpedals on “Irrational” Crypto Tax After Strong Backlash appeared first on Bitcoin News. View the full article

The upcoming implementation of a major regulatory push by the European Union to control how companies can operate on the Internet has killed another venture in the cryptocurrency sphere. This story, astrology-based financial investment, and many more feature in today’s edition of Bitcoin in Brief. Also Read: Marvel, The Simpsons Go Crypto Parity Shuts Down ICO Passport Service The team behind Parity Technologies, the developers of the Parity multi-signature wallet, have announced they are shutting down PICOPS, a service used by ICO campaigns to comply with KYC/AML regulations by validating that the owner of an Ethereum wallet has already passed an ID background check. The reason for the closure is a new EU dictate called the General Data Protection Regulation (GDPR), which is meant to bring a new set of “digital rights” for EU citizens and guard their personal data. The regulation that will come into force this Friday has already killed other services in the crypto space such as the P2P exchange Cointouch and has forced others to change the way they do business such as Localbitcoins. The Parity team explained that: “GDPR creates new and untested challenges when storing personal information on the blockchain. These challenges make running a service like PICOPS more difficult. We are looking at ways of resolving the uncertainty and making PICOPS compliant with GDPR while keeping it useful. However, as things stand, the solutions we have identified restrict the service to a very limited set of features. Because of this, the significant resources required to make PICOPS GDPR-compliant, and the fact that PICOPS is not part of our core technology stack, we have decided to discontinue the service, despite overwhelming market needs and demand.” Indian Ban Case Shifts to Supreme Court The Supreme Court of India has taken over the cases of Coin Recoil and others challenging the Reserve Bank of India (RBI) ban on local banks from dealing with bitcoin companies. The next hearing of this now combined case is planned for July 20, 2018. Rashmi Deshpande, Associate Partner at Khaitan & Co., commented: “The Supreme Court has recently transferred the entire batch of petitions pending at High Court level with respect to the contentious issue of RBI effectively banning transactions in cryptocurrencies. This decision highlights the importance of this issue at a national level from not just a legal, but also an economic standpoint. We strongly believe that the RBI’s circular to effectively discourage the business of cryptocurrency exchanges is an arbitrary decision against the freedom of the right to trade guaranteed by the Constitution. We are hopeful that justice will be meted out at the Supreme Court level.” Written in the Stars Astrology-based financial investment is apparently a thing, and many practitioners are using it to navigate the tumultuous seas of the cryptocurrency markets. This is according to a Marketwatch report that cited a number of astro-investors and even a professional astro-analyst talking about the practice as well as their predictions. This matter came into the forefront recently after ex-NFL star Ricky Williams shared his use of the of study of celestial objects with CNBC. “When I look at things, I tend to look at astrology to get insight. The insight that got me interested in Bitcoin was the planet Uranus is about to enter into Taurus,” he explained. Roboforex to Compete with Wallets Roboforex, an IFSC (International Financial Services Commission of Belize) licensed financial firm offering crypto CFDs, has introduced a new service for its clients to buy BTC with fiat directly from the broker. The company believes that its regulated status will convince users to use their accounts over existing wallets. Denis Golomedov, Chief Marketing Officer at Roboforex, said: “Providing the ability for clients to deposit into their accounts in Bitcoin is not only an additional service, which expands clients’ opportunities, but also a standalone product, which significantly dominates over its market counterparts. Security has become very significant issue recently, as more and more information appears about hacking cryptocurrency exchanges and stealing users’ assets. Using the cryptocurrency is much more convenient and safer for clients within the framework of their trading and investment activities, using products and services provided by a regulated broker”. What do you think about today’s news updates? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a store. And a forum. And a casino, a pool and real-time price statistics. The post Bitcoin in Brief Monday: New EU Rules Kill Another Crypto Venture 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. During Consensus Week in New York, Singapore-based blockchain technology company, ECOMI, announced its first license with tokidoki, the internationally recognized and iconic lifestyle brand that has amassed cult-like following for its larger-than-life characters. ECOMI will bring tokidoki’s iconic characters into the digital world with verified ownership by creating digital tokidoki collectables in the form of a non-fungible token available on the ECOMI Collect app. “We chose tokidoki as our first brand partner because of their ambition to expand into the digital realm when it comes to collectable items,” says David Yu, CEO of ECOMI. “Their very diverse global audience are already collecting tokidoki’s unique characters in various forms. Being able to have verifiable ownership of unique digital art on the ECOMI Collect app is going to change the way collectables are viewed, bought, and traded.” With the decentralized nature of blockchain, the ECOMI Collect app will simplify interactions with underlying technologies by bringing licensed digital collectables to a global audience while maintaining international standards of security, and intellectual property protection. “We are always looking to work with innovative companies and look forward to disrupting the collectables market with ECOMI,” says Pooneh Mohajer, tokidoki Co-founder and CEO Since the dawn of cyberspace, the nature of the Internet has made it very easy for expressions of creative works such as, but not limited to, literary, graphic, and audio-visual works, to be copied and distributed over the Internet anonymously, which has been a risk for creators. “We feel the tokidoki characters can be applied to all products and are especially excited that we will be one of the first licenses in the digital collectables space.” says Simone Legno, tokidoki Co-founder and Chief Creative Director A range of digital collectables will be made available in Q3 / Q4 2018 through the ECOMI Collect app, a decentralized application that employs blockchain technology to verify and trace ownership of digital commodities. About ECOMI: ECOMI delivers the benefits of decentralization, ownership, privacy and control to the mainstream. Operating through the ECOMI app, the ECOMI Secure Wallet and ECOMI One hardware devices enable users to securely store and interact with cryptocurrencies, digital assets and data in one user-friendly solution. ECOMI’s ecosystem is underpinned by blockchain technology in three primary areas – Protection of private keys, real-world cryptocurrency payments, and the exciting new world of crypto-collectables. For more information, please see: www.ecomi.com About tokidoki: tokidoki, which translates to “sometimes” in Japanese, is an internationally recognized and iconic lifestyle brand based on the vision of Italian artist Simone Legno and his partners, serial entrepreneurs Pooneh Mohajer and Ivan Arnold. Since debuting in 2005, tokidoki has amassed a cult-like following for its larger-than-life characters and emerged as a sought-after global brand. The tokidoki universe contains a diverse array of characters across several character families, each with its own unique story. tokidoki offers an extensive range of products which include apparel, handbags, cosmetics, accessories, toys and more. As an innovative company, tokidoki is known not only for its eye-popping aesthetic and criminally cute characters but also its megawatt partnerships with the likes of iconic brands such as Hello Kitty, Karl Lagerfeld, LeSportsac, Barbie, Onitsuka Tiger, Sephora, Marvel and others. For more information, please see: www.tokidoki.it For more information, contact: Rhys Skellern ECOMI Communications Manager rhys@ecomi.com Supporting Link http://ecomi.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: ECOMI Partners with tokidoki to Transform Characters into Digital Collectables appeared first on Bitcoin News. View the full article

Crypto is set for yet another banner year, especially if mainstream portrayals of it are any indication. Marvel Comics’ Hunt for Wolverine – Adamantium Agenda #1 and The Simpsons: Tapped Out video game are both working-in references to cryptocurrency into their respective storylines and quests in attempt to capture some of the excitement regarding money’s future. Also read: Alec Baldwin’s Lambo Movie Backed by Crypto Tech Way back in 1997, The Simpsons foreshadow The Simpsons are Crypto Cool Mobile games have been the rage for years now, and among the so-called freemium games, The Simpsons: Tapped Out is a very popular choice within the genre. In the world of the game itself, Who Shot Mr. Burns, Part 3 (2018) is what’s known as the third minor event of this year, and is the 35th minor event in the game’s history. It comes directly after The Springfield Jobs 2018 Event which ends in just a few days. Crypto Cool is a limited-time quest-line, and it is the first quest in the series. Crypto Cool begins as per usual: Homer is not taking his nuclear power plant job seriously, playing games on his tablet instead of working. Players are to keep the nerdy character Martin talking about blockchain, mentioning it a zillion times, never explaining exactly what it is he’s talking about. At a key point in the game, Martin admits he’s only heard of of blockchain “last week. But now I act like I’m an expert on it,” echoing a very real occurrence in the current ecosystem. Available in iOS, Android, and Kindle Fire, The Simpsons: Tapped Out has been around for over half a decade, and is owned by EA Mobile. The game seems to print cash, having earned much more than $100 million due to in-game purchases as players attempt to progress. And at still another point in the game, Martin references the world’s most popular cryptocurrency, bitcoin. He brags at having “mined some bitcoin with my computer, and then the value went through the roof.” Players who complete the task with Martin are then asked to get three more characters to mine bitcoin on their devices. Enthusiasts are hip to the fact this isn’t the first cartoon-oriented theme to reference crypto. Bitcoin has seen light on shows like Supernatural, Family Guy, among others. The Good Wife, Almost Human, Person of Interest, and House of Cards have also kissed the phenomenon’s metaphorical ring, as it were. For The Simpsons, of course, this isn’t a first either. About five years ago, Krusty has to admit he’s busted because “all it takes is bad luck at the ponies, worse luck in the bitcoin markets.” A year later, Jimbo is advertising his bullying services, adding he “accepts bitcoin.” As far back as 1997, The Simpsons also alluded to cryptography with scenery in the background: a store called Crypto Barn, A Place for Codes. Marvel Comics’ Hunt for Wolverine – Adamantium Agenda #1 Written by Tom Taylor and illustrated by RB Silva, Marvel’s Hunt for Wolverine – Adamantium Agenda #1 is the story of how, at one point, Wolverine rescued New York City by essentially helping it avoid being hit by a bomb. The act evidently involved self sacrifice, saving the entire city. After, he is nowhere to be found. Iron Man, Spider Man, Luke Cage, and Jessica Jones all join in the adventure, involving black markets, familial cliffhangers, and more. Marvel has been around in one form or another for nearly 80 years. Now owned by The Walt Disney Company, Marvel Comics boasts creators such as Stan Lee, Jack Kirby, and Steve Ditko. Black Panther, Spider Man, Iron Man, Captain America, Wolverine, the Hulk, Thor, Daredevil are among its most notable heros. Marvel has captured slightly more market share than chief rival DC Comics. Because it is ruled by math, and its distributed ledger tech is immutable, Hunt for Wolverine assumes bitcoin as a universal power delivery system often used by robots. At one point, without giving too much away, Tony Stark needs to make payments. It is assumed, considering the type of characters he’s dealing with, he’ll used the usual unmarked cash. This time, instead, he must use cryptocurrency. And reference is made to crypto’s “risky” reputation, to which Tony Stark has a hilarious response. Both The Simpsons and Marvel have incredible reaches, from average gaming Joes to nerds perhaps more inclined toward crypto. Any push into mainstream culture seems to help ease fears and dispels mystery surrounding decentralized money. And that can only be a good thing. Are video games and comics important avenues to encourage crypto curiosity? Let us know what you think of this subject in the comments below. Images via Pixabay, Twitter 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 Marvel, The Simpsons Go Crypto appeared first on Bitcoin News. View the full article

The Ontario Securities Commission has issued a warning against five unlicensed crypto companies involved in schemes to encourage investors to trade or invest in cryptocurrencies. The regulator started gathering information about these platforms after receiving complaints about them. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Warning to Investors The Ontario Securities Commission (OSC) published an Investor Alert on Friday, warning the public of five firms that “appear to be involved in schemes that target Ontario investors and encourage them to trade or invest in cryptocurrencies,” stating: Btcreal, Bitserial, Hypercube Ventures LP, Cabincoin OÜ, and Baappay Inc. are not registered in Ontario to solicit investments or provide advice on investing in, buying or selling securities. The Commission started gathering information on several crypto trading platforms last month after it received a number of complaints about them, CBC reported, adding that to date no platform has been recognized by the OSC as an exchange or exempted from recognition. Any platform that offers cryptocurrencies that fit the definition of securities “must determine whether it is a marketplace. Marketplaces are required to comply with the rules governing exchanges or alternative trading systems,” the news outlet elaborated. Last month, the OSC issued an Investor Alert on Bitconnect, Bitconnect Coin and the BCC Exchange. “Bitconnect, the BCC Exchange and representatives of Bitconnect are not registered in Ontario to solicit investments or provide advice on investing in, buying or selling securities,” the regulator wrote. The Five Unregistered Firms The first firm mentioned in Friday’s warning is Btcreal. This company “claims to provide full investment services for cryptocurrency-related investments and forex,” promising investors “high returns in short periods of time,” the OSC described. The company’s website advertises “6 high ROI [Return On Investment] plans.” The next company is Bitserial which “claims to offer opportunities to invest in BTE Tokens.” The firm also “encourages investors to participate in a lending program where they can exchange bitcoin, litecoin, or ethereum for BTE Tokens that are ‘lent out’ for high returns,” the Commission detailed. The third company is Hypercube Ventures LP which manages multiple websites to encourage investors to buy “emission pools” in order to generate “VNN cryptocurrency,” according to the Commission. The fourth is Cabincoin OÜ which “is currently advertising an unregistered token sale for Cabincoin Tokens,” claiming that “the future value of these tokens will far exceed their initial price,” the OSC wrote. The last on the list is Baappay Inc. which “is a multi-layered platform that integrates both fiat and cryptocurrency payment services for merchants, that will confirm and guarantee all payments in seconds,” its website describes. The OSC says this company “is also currently advertising an unregistered token sale.” What do you think of the OSC’s warning? Let us know in the comments section below. Images courtesy of Shutterstock, the OSC, Btcreal, Bitserial, and Cabincoin. Need to calculate your bitcoin holdings? Check our tools section. The post Canadian Regulator Warns Investors of Five Cryptocurrency Firms appeared first on Bitcoin News. View the full article

On May 19 a group of Bitcoin Cash (BCH) miners met after the Coingeek Conference in Hong Kong to discuss a new proposal which would fund BCH development and professional programmers who work on the protocol. The funding would stem from a portion of the miners block reward, and attendees discussed donating between 1-5 percent of rewards to fund developers. Also read: Bitcoin in Brief Saturday: Warren Warned by Billboards, Coinbase Tempted by Banking A Positive Meeting Takes Place in Hong Kong Between BCH Industry Executives, Mining Pools, and Developers After an innovative event at Calvin Ayre’s Coingeek Conference in Hong Kong members of the Bitcoin Cash industry including high profile executives, and lead developers met to discuss a new proposal. Attendees of the meeting included executives from the pool BTC.top, Coingeek, Viabtc, Jihan Wu and Jiazhi Jiang from Bitmain’s Antpool, Roger Ver and other representatives from the Bitcoin.com pool, Amaury Séchet of Bitcoin ABC, Electron Cash founder Jonald Fyookball, and Jerry Chan from SBI Bits. The meeting discussed how attendees envisioned where BCH development would go and how to continue funding the project in the future. Moreover, other blockchain projects that fund development through mining rewards were also discussed between the meeting participants. Alongside this, the attendees talked about how the funds would be distributed and how miners could use their signatures to vote on certain development projects. Members deliberated different concepts like an OP_Code ‘Timelock’ method — a smart contract technique that restricts the spending of coins until a certain block height or time. Bitcoin Cash Miners Discuss Voting on Proposals “Virtually all of the mining pool representatives agreed to support a proposal that would allow miners to vote to fund community proposed initiatives, voting on them in the same way that vote signaling works now,” a representative from Bitcoin.com who attended the meeting explained to our newsdesk. If a proposal crossed a 75% threshold, it would pass — And would be funded with some predetermined amount from every block found. As mentioned above, a percentage of 1-5 percent of the block reward was considered, but for now, there have been no agreed terms set at the meeting. An example of how much funding a small percentage of the block rewards would be, shows that roughly 1 percent of a month’s work of block rewards is about $650,000 USD if BCH prices are above $1,200 per coin. What do you think about miners donating block rewards to help fund BCH development? Let us know your thought on this subject in the comments below. Images via Shutterstock, Bitcoin.com, and Pixabay. 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 BCH Miners Discuss Funding Development With a Fraction of Block Rewards appeared first on Bitcoin News. View the full article

After the notorious 5 BTC ‘bitcoin puzzle’ was solved last January after years of people trying to crack it, now another bitcoin puzzle was launched this week on forums and social media. On May 19, 2018, a person posted an image which contains a bitcoin puzzle that rewards the solver 1 BTC. Also read: A Brief History of Hidden Messages in the Bitcoin Blockchain Bitcoin Puzzles: Hiding Cryptocurrencies in Plain Sight Since the inception of bitcoin and other cryptocurrencies, visual puzzles that contain digital asset rewards have been very popular. This week a Reddit user named ‘u/cryptogreetings’ posted a cryptic picture online that contained a puzzle with a 1 BTC prize. Since the image was published online no one has been able to crack it so far as the public address can be seen here. The picture is black and orange and white with a bitcoin symbol and many words, and numbers strewed across the image. The creator says if no one can crack it in a week they will publish some hints to help people out. “This work is comprised of Satoshi Nakamoto’s famous whitepaper words, scaled by Log N. Disparate ideas inspired Satoshi to create a solution to revolutionize modern socio-economics and industry,” explains the Reddit user u/cryptogreetings. The work reflects on the elements that brought this technology to life, and challenges the underlying security model. Hidden in plain sight lies something more: a treasure hunt. 1 BTC is concealed within the work. This picture was published yesterday, it contains 1 BTC hidden within the image. It has not been solved yet. The Infamous Coin Artist 5 BTC Puzzle Solved This Year Just recently news.Bitcoin.com reported on a famous bitcoin puzzle that contained 5 BTC for years before the puzzle was decrypted. The painting called ‘The Legend of Satoshi Nakamoto’ was designed by @coin_artist, who had hidden clues that revealed a private key to the tethered wallet. The puzzle was solved by a 30-year old programmer named ‘Isaac’ who solved the puzzle in less than two months. Isaac just happened upon the puzzle while searching for cryptocurrency related riddles online. This painting held 5 BTC at one time, it was solved this year. Cryptocurrency Puzzles and Riddles Strewn Across the Web There have been tons of bitcoin puzzles over the years and there even is a Reddit forum dedicated to these riddles called r/bitcoinpuzzles. The Reddit forum has lots of puzzles with large funds hidden and smaller mBTC fractions. News.Bitcoin.com reported on another bitcoin puzzle series that is tied to an Enigma game on Steam. Montecrypto is a game specifically designed for armchair detectives as this past February the game made headlines worldwide. During the first week of February, a gamer solved the Montecrypto puzzles and accumulated $50K worth of BTC, BCH, and other coins. Bitcoin and security expert Andreas Antonopoulos showing a hidden $12Mn BTC transaction back in 2015. As long as cryptocurrencies can be hidden people will always try to solve these puzzles using techniques like uncovering obscure clues, utilizing steganography and cryptography. People have also stored puzzles within the digital asset’s network as well as one user in 2011 wrote a paper describing a way to implement steganography inside the Bitcoin Core (BTC) network. “That is, storing hidden messages inside the network, that would be available only to those who knew where (and how) to look,” explained the creator and his paper’s summary. What do you think about people storing cryptocurrencies in photos and puzzles? Let us know what you think about this subject in the comments below. Images via Shutterstock, u/cryptogreetings, @coin_artist, and Twitter. Have you seen our new widget service? It allows anyone to embed informative Bitcoin.com widgets on their website. They’re pretty cool, and you can customize by size and color. The widgets include price-only, price and graph, price and news, and forum threads. There’s also a widget dedicated to our mining pool, displaying our hash power. The post Armchair Detectives Have Another Bitcoin Puzzle to Solve 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 sooner our education system is digitally disrupted, the better It’s difficult to measure the impact of higher education, either in a monetary sense or otherwise, although a few studies have tried. One recent study, involving 14,780 higher education institutions in 78 countries over six decades, suggested that doubling the number of Universities in a region results in a 4.7% increase in GDP per capita over five years. Two main reasons were suggested by the authors – a rise in workforce skill levels, and improved research and innovation. This is a vote of confidence for a higher education model that is coming under increased scrutiny, particularly as the cost of University tuition continues to balloon all over the world. In fact, OECD countries are currently spending an average of 1.6% of their GDP on higher education, up from 1.3% in 2000. In light of continual increases in the cost of higher education, we must ask whether we might be able to achieve these increases in workforce skill levels via a different systemic path. Digital Disruption Recent years have seen the rise of various platforms that host what might fairly be called recreational educational content, such as Udemy, Udacity or even YouTube. These platforms offer opportunities for self-education, and although they may offer courses relevant to many professions, they can’t really be considered competitors to the traditional education system because their courses aren’t recognised by employers. Tutellus xxx, yyy explains what needs to change in the digital education space: “The traditional higher education system will only be truly under threat from digital disruption when employers recognise qualifications and courses supplied by digital platforms. This places the burden on platforms to ensure their courses are of sufficient quality” Tutellus is a startup that is creating a platform with exactly this vision in mind. The Tutellus ecosystem integrates students and teachers with employers and is built on blockchain technology with two native tokens – TUT and STUT. The tokenomic profile of these tokens, as well as the platform’s revenue model, aims to create incentives around the production of students (graduates) that’re truly ready for a given job or career. Students are financially rewarded for the time they spend on the platform; teachers keep the large majority of the revenue their courses generate as well as a cut off the fee paid by employers to hire one of their students; employers get access to a ready pool of keen, driven candidates. The Economy and Beyond… The study mentioned previously, unsurprisingly, showed that more higher education institutions results in a rise in workforce skill levels, which contributes to economic growth. A more surprising finding of that same study was that an expansion of higher education systems was also associated with a greater prevalence of pro-democracy views among individuals. Innovations that scale often have unintended consequences, and it’s hard to foresee how easier access to quality education could result in anything less than positive. We can’t tell exactly where things will go but what is clear is, the sooner our education systems are disrupted, the better. Tutellus has partnered with Cryptonomos to conduct its ICO. The presale began on May, 10, the main sale on June 12, 2018. An early bird bonus of 10% will be made available to early participants. DISCLAIMER: TUT public sale will not be open to citizens, residents or green card holders of the USA (including Puerto Rico, US Virgin Islands, and any other protectorate of the USA) or other representatives of the USA For more information or to participate in the ICO, head to www.cryptonomos.com! https://t.me/tutellus https://medium.com/tutellus-io https://bitcointalk.org/index.php?topic=2571779.0 https://twitter.com/tutellusico https://www.facebook.com/tutellusio/ https://github.com/tutellus-io https://www.youtube.com/channel/UCocRxY2k1Oxsh5cn9bKmoLw https://www.linkedin.com/company/27141306/ https://www.reddit.com/r/Tutellus/ Contact Email Address marketing@cryptonomos.com Supporting link www.cryptonomos.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: Tutellus launches ICO on the Cryptonomos platform appeared first on Bitcoin News. View the full article

Blockchain exploration service Blockchair has launched a new analytics tool. Blockchair Feed decodes the messages that are written into the BCH, BTC, and ETH networks. The results can be viewed in a real-time feed comprised of messages that range from the banal to the enigmatic. Also read: A Brief History of Hidden Messages in the Bitcoin Blockchain Feast on a Banquet of Messages with Blockchair Feed Blockchain explorer Blockchair is widely used by the bitcoin cash and core communities for searching for transactions and checking data pertaining to market prices, dominance, and network performance. It’s also one of the few blockchain explorers that enables users to search for specific words or phrases hidden in transactions. Its latest tool goes a step further and decodes these messages in realtime as they are published on each of the three blockchains. A sample message decoded by Blockchair Feed Blockchair Feed provides a fascinating and occasionally bizarre glimpse into the conversations that people are having, sometimes with specific people, and sometimes with the world at large, via their favorite blockchain. Most of the messages that can be viewed in the feed come from the BCH network. That’s largely thanks to the success of micro-blogging social networks such as Memo and Blockpress. Each of these capitalizes on the low fees of bitcoin cash, making it practical to message other users via the OP_Return field. Thanks to the recent upgrade to the BCH network, the size of this field has increased, giving rise to even more possibilities for onchain communication. Blockpress Of the two social networks, Blockpress has the cleaner UI which is reminiscent of Twitter. After creating a profile, header, and username, users can dispatch short messages that include emojis. Judging by the spate of messages appearing in the Blockchair Feed, however, Memo is the busier of the BCH social networks at present. As previously reported by news.Bitcoin.com, people have been encoding messages in blockchains for years. The BTC blockchain, for example, contains six marriage proposals. Now, thanks to the rise of tools such as Blockchair Feed, coupled with services like Memo and Blockpress, reading those messages – and even replying to them – has gotten a lot easier. Have you tried using Blockpress or Memo yet and if so what are your thoughts on these services? Let us know in the comments section below. Images courtesy of Shutterstock, and Blockchair Feed. Need to calculate your bitcoin holdings? Check our tools section. The post Blockchair Feed Reveals Messages Encoded in the BCH, BTC and ETH Blockchains appeared first on Bitcoin News. View the full article

A notable week for Bitcoin Cash (BCH) – the network successfully upgraded the blockchain protocol by extending the block size to 32MB. The change will allow a greater number of transactions to be processed with inexpensive and consistent transaction fees. Also, Seminole County in Florida will accept tax payments in both Bitcoin Cash (BCH) and Bitcoin Core (BTC) thanks to a partnership with Bitpay. Also read: Bitcoin in Brief Saturday: Warren Warned by Billboards, Coinbase Tempted by Banking Bitcoin Cash Upgrades Blockchain Protocol The Bitcoin Cash network has smoothly and successfully upgraded the blockchain protocol this Tuesday by extending the block size from 8MB to 32MB. The implementation of the new consensus rules went into effect at block height 530356. The change represents one of the largest block size increases in blockchain history. The upgrade also includes an increased default data-carrier-size, from 80-bytes to 220-bytes, and re-enabling previously disabled Satoshi OP_Codes, which could add the ability to code colored coins and binary contracts. The fourfold block size increase will allow vast amounts of transactions to pass through the network with consistent and inexpensive transaction fees. It also gives developers plenty of breathing room to adjust the size if it starts getting closer to its limit and paves a path for mass adoption. The block size limits are currently set by the miner, and developers are able to set the capacity so that blocks cannot get full in the immediate future. This means that the fees will remain low for quite some time and also reliable, even when transaction usage becomes as extreme as in the last quarter of 2017. Bitpay Enables BCH and BTC for Tax Payments in Florida County US-based crypto payment processor Bitpay has announced a formal agreement with Florida’s Seminole County Tax Collector, Joel M. Greenberg. Both Bitcoin Cash (BCH) and Bitcoin Core (BTC) can be used for tax payments starting this summer. County residents will be able to pay in crypto for driver licenses, ID cards, and even property taxes. “We live in a world where technology has made access to services on demand, with same-day delivery and the expectation of highly efficient customer service, and we should expect the same from our government,” Greenberg said. He added that the aim of his tenure in office is to make customer experience faster, smarter, and more efficient, and to bring government services from the 18th century into the 21st. One way to achieve that, the official says, is to add cryptocurrency to the available payment options. China Ranks Almost 30 Cryptos, Finds Over 400 Fake Coins The government of China, one of the first to ban cryptocurrencies like bitcoin, has come out with official crypto rankings. The Chinese Center for Information Industry Development (CCID) will be judging leading digital coins according to three major criteria – innovation, technology, and application – although details about the applied methodology are yet to be shared. A total of 28 cryptocurrencies and their respective blockchains have been ranked. Of the top four coins by market capitalization, Ethereum was ranked first, followed by Bitcoin Core (BTC) at number 13, Ripple is 17th, and Bitcoin Cash (BCH) – 25th. The Chinese top five include Ether, Steem, Lisk, NEO, and Komodo. Another sign of growing attention to cryptocurrencies in China is the publication of a report on fake coins by a government-backed industry organization. The National Committee of Experts on the Internet Financial Security Technology (IFCERT) has identified 421 fake cryptocurrencies. The organization pointed out that 60% of these cryptos are deployed overseas. IFCERT also outlined some major red flags of the fake coins. According to the Committee, they often adopt “pyramid-based” business models and claim high returns. The cryptos have no real code – they either do not have a blockchain or cannot generate blocks for one. These coins are not traded on legitimate exchanges, the report also notes. US Government Launches Scam Crypto Site The US Securities and Exchange Commission (SEC) has created and published its own version of an initial coin offering (ICO) scam website. “Combining the two most growth-oriented segments of the digital economy, blockchain technology and travel, Howeycoin is the newest and only coin offering that captures the magic of coin trading profits and the excitement and guaranteed returns of the travel industry,” the mock SEC website claims. It promises partnerships in all segments of the travel industry and “earning coins you can trade for profit.” “The rapid growth of the ‘ICO’ market, and its widespread promotion as a new investment opportunity, has provided fertile ground for bad actors to take advantage of our Main Street investors. We embrace new technologies, but we also want investors to see what fraud looks like, so we built this educational site with many of the classic warning signs of fraud,” SEC Chairman Jay Clayton explained. He also noted that distributed ledger technology can add efficiency to the capital raising process, but promoters and issuers need to make sure they follow the securities laws. “I encourage investors to do their diligence and ask questions,” Clayton said. EU Adopts Rules to Reduce Anonymity for Crypto Users This week, the European Union moved closer to its goal to minimize anonymous crypto transactions. The EU Council adopted a directive, which updates the European anti-money laundering legislation. The new rules come with requirements for crypto platforms to introduce know-your-customer procedures. The amendments were adopted at a meeting of the General Affairs Council on Monday, following an agreement with the European Parliament form December. In April this year, MEPs voted to support the deal to “bring cryptocurrencies under closer regulation.” The main changes involve addressing the “risks linked to virtual currencies” by taking steps to reduce anonymity for both crypto traders and crypto-related transactions. Providers of exchange services between virtual and fiat currencies, as well as custodian wallet providers, will be obliged to identify suspicious activities. The directive states that authorities should be able to monitor the use of cryptocurrencies through these platforms, and the national financial intelligence units should have access to information allowing them to associate crypto addresses with the their owners. South Korean Regulators Widen Investigation of Crypto Exchanges The government in Seoul is widening its probe on cryptocurrency exchanges focusing on the use of corporate accounts for crypto transactions, which the regulators say can lead to money laundering. The practice should have been discontinued when authorities introduced the real-name system at the end of January. However, only 30% of all crypto accounts have been converted into real-name ones so far. South Korea’s top financial regulators are now teaming up with prosecutors to widen the investigation. The six banks that can issue real-name accounts have chosen to only service the country’s largest crypto exchanges: Upbit, Bithumb, Coinone, and Korbit. Nonetheless, not all accounts at these exchanges have been converted into real-name ones. In addition, all small and medium-sized exchanges continue to use corporate accounts for crypto transactions. The regulators warn that the use of corporate accounts can lead to fraud. The announcement of the widening probe follows the launch of an investigation on the largest South Korean crypto exchange, Upbit. What are your thoughts on the top stories we’ve covered this week? Let us know in the comments section below. Images courtesy of Shutterstock. Bitcoin News is growing fast. To reach our global audience, send us a news tip or submit a press release. Let’s work together to help inform the citizens of Earth (and beyond) about this new, important and amazing information network that is Bitcoin. The post This Week in Bitcoin: Smooth Bitcoin Cash Upgrade, BCH and BTC Tax Payments in Florida appeared first on Bitcoin News. View the full article

Move over Cryptokitties. The ethereum network has a new batch of games to blame for rising gas fees. Over the past week, the viral success of dapps such as Ether Shrimp Farm, Ether Cartel, and Pepe Farm has congested the ethereum blockchain, questioning its readiness for enterprise adoption. Also read: Cryptocurrency is Property in Russia, Justice Minister Confirms Ethereum Endures a Plague of Frogs and Shrimp In the same week that Fedex announced plans to build a logistics tool on the ethereum network, fresh doubts over its readiness for enterprise use have emerged. A clutch of new games, created and nurtured in the depths of 4chan, has raised gas prices and show the fragility of the blockchain in its current state. While not as fatal as Cryptokitties, ethereum’s first viral onchain game, Ether Shrimp Farm and its spin-off Ether Cartel have still taken their toll on the network. The former dapp requires users to hatch and sell shrimp in a bid to maximize production before ultimately exchanging eggs for ether. Ether Cartel, meanwhile, takes the same concept and applies it to drug running. The game “features a high tech automated market that lets you instantly buy or sell drugs with a single transaction. The more kilos you have, the more drugs they produce (each kilo produces at a rate of 1 per day). Collect more kilos with your drugs to multiply your production.” The most popular new dapps this week. Meme Games Top the Charts and Up the Gas After amassing 26,000 transactions in just 24 hours, 4Chan’s ethereum games saw gas fees more than double to $0.2. They have since settled at just over $0.1 per transaction according to Eth Gas Station but the games, including Ether Anthills and Pepe Farm, still occupy 9 out of the top 10 spots in Dapp Radar’s new dapps category. Ether Cartel and Fish Farm also occupy third and fourth in the top 10 for all dapps, just behind IDEX and Forkdelta. In the last week, Ether Shrimp Farm alone has been responsible for 43,000 transactions. Pepe Farm While many people have seen the amusing side of all this, not everyone is impressed. As one commenter pointed out, “If the 2nd largest cryptocurrency can be destroyed by cryptokitties and shrimp farms then it isn’t ready for prime time and we have a long way to go before mass adoption. These games may seem stupid, but they serve as valuable stress tests for the ecosystem as a whole, and show where the weak points lie.” There are ways to design dapps so that they don’t require every single action to be performed onchain. Ethereum social network Peepeth is an example of this. The mischief-makers behind the likes of Ether Shrimp Farm, however, revel in the wreckage caused by the runaway success of their games. Like all memes, these dapps will soon die off, but will eventually be replaced by new blockchain-clogging contenders, much to the annoyance of other ethereum users. What do you make of meme blockchain games – harmless fun or a waste of time and gas? Let us know in the comments section below. Images courtesy of Shutterstock. Need to calculate your bitcoin holdings? Check our tools section. The post Shrimp, Frogs, and Drugs Are Clogging the Ethereum Blockchain appeared first on Bitcoin News. View the full article

People’s Republic of China (PRC) 中华人民共和国 was one of the first governments to ban bitcoin, cryptocurrency. Now, the PRC is the first country to come out with official government crypto rankings. Its China Center for Information Industry Development (CCID) used three filters through which coins would be judged: innovation, technology, application. Rather surprisingly to some enthusiasts, bitcoin core (BTC) didn’t even crack the top ten, while bitcoin cash (BCH) almost didn’t make the list at all. Also read: Alec Baldwin’s Lambo Movie Backed by Crypto Tech China Lists Ethereum as Best in Crypto Class In what is either widely being referred to as a case of communist schizophrenia or a passive nod to the inevitable financial future, the PRC’s CCID released its first set of cryptocurrency rankings. China, of course, outright banned crypto in all its various forms, and the broader market was thought to have plummeted for a time as a result. That it is now publishing coin rankings is confusing to many observers. CN Ledger, a popular Twitter handle, was the first to expose the rankings to the outside world. Its author, Eric Zhao, explained how “most old-school experts haven’t followed the crypto space long enough to grasp some of the traits of tech and community that can’t be found elsewhere.” Indeed, this year found Weiss Ratings’ inaugural list of their rankings, as these pages reported. It too was very controversial. “The eagerly-anticipated report rates 74 of the most popular cryptocurrencies on the market, scoring them from A to D,” we wrote. “Such was the level of interest in the report, the company’s website was knocked offline as interest peaked on Wednesday morning. Weiss Ratings include some controversial scores for currencies such as bitcoin and ethereum that are sure to spark debate.” Then, as now, BTC ranked lower than Ethereum. Weiss spent a great deal of time defending their decision. Mr. Zhao hoped the CCID effort signals a kind of new opening. “I believe at least it’s a sign that the officials are starting to treat crypto projects more like a neutral endeavour towards better technology and innovations, rather than just challenging the power and authority of banks and government,” he stressed. BTC Listed 13 of 28 Just a week ago, the PRC ministry surprised enthusiasts with a press release announcing its Global Public Chain Assessment Index. “This independent analysis of cryptocurrencies and global public blockchain technology demonstrates the confidence of the Chinese Government in the technology, and will act as a guide for government, enterprise and research institute,” news.Bitcoin.com quoted the government notice as stating. The Center for Information Industry Development used three main criteria in scoring cryptocurrencies, though scant information exists about methodology. Application, innovation, technology were used to place 28 total cryptos and their respective blockchains (which the rankings, at least at first glance, weigh heavily). Of the top four coins by market capitalization, Ethereum ranked first, followed by bitcoin core (BTC) at number 13, ripple in the 17th spot, and bitcoin cash (BCH) lagging well behind them all at the lowly number 25 of 28. For the CCID, however, the top five cryptos to their liking include ether, steem, lisk, neo, komodo. For those who worry about such rankings, PRC appears to, again, value blockchains over currencies – a common refrain heard in the Western corporate world. If, alternatively, one were to assess various cryptocurrencies according to their efficacy as mediums of exchange, BCH and BTC would likely rank quite high, and could be considered a most obvious threat to a regime bent on control. Whatever the case, cracks do happen inside the communist stronghold: quite a few crypto tech related patents are owned by China, its central bank has openly mused about state-backed crypto, and, of course, its burgeoning video game industry is very bullish on tokens and distributed ledgers. And just announced, “The most popular stock trading app in China, Straight Flush (同花顺), now adds support for showing the price of Crypto-Currencies.” Did you think China’s rankings will have any real impact? Let us know what you think of this subject in the comments below. Images via Pixabay, Twitter 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 China Ranks Cryptos: Bitcoin (BTC) Dismal 13 of 28 appeared first on Bitcoin News. View the full article

The Russian Ministry of Justice has taken side in what looks like a lively debate about the status of cryptocurrencies that are still unregulated in the country. A bankruptcy case involving a modest amount of bitcoin has sparked discussions in Russian legal circles. Some say a crypto is nothing more than “a set of characters.” Others, including the justice minister, are categorical – cryptocurrency can’t be anything else but property. Also read: Cryptocurrencies to be Called “Digital Money” in Russia, Tokens – “Digital Rights” Russian Justice Ministry Takes Side in a Legal Argument Cryptocurrency falls under the legal category of “other property,” Russia’s Justice Minister Alexander Konovalov told reporters this week. With two draft laws on the matter still pending in the State Duma, he also noted that digital coins should not be considered electronic money, at least on this stage. A bankruptcy case involving some bitcoin holdings has recently stirred the Russian legal community, which was challenged to provide a provisional answer to the question about the status of cryptocurrencies. In the absence of firm definitions in the current legislation, this question split Russian legal experts in two camps. On one side are those who think that cryptocurrencies have real value, on the other – their colleagues who believe they don’t, if the law doesn’t explicitly say so. According to Konovalov, his department has adopted a “consolidated opinion” on the legal nature of cryptocurrencies and it supports the view that they should be defined as property. “If digital money is not property, its theft would not be considered criminal offense because there would be no object of the crime,” he warned. “If cryptocurrencies are to develop, additional regulation will be necessary. The main point is to ensure that all this does not grow into financial pyramids,” Konovalov added, quoted by Prime. He is convinced that Russia should introduce rigid crypto regulations but also recognizes that the phenomenon is itself a “manifestation of the people’s desire to escape from total dependence.” The Question Will Be Answered by the Duma Soon Minister Konovalov’s comments added to the ongoing debate among experts and officials in Moscow on whether cryptocurrency can be considered a property in accordance with the current Russian legislation. The discussions were prompted by a bankruptcy filing from October last year. During the arbitrage proceedings, the debtor protested the trustee’s request to include his crypto funds, less than 0.2 bitcoin (BTC), in his bankruptcy estate. According to his legal representative, such move is impossible as the term “cryptocurrency” is not mentioned in Russia’s Civil Code at all. The Moscow Arbitration Court accepted this position. “A conclusion can be drawn that cryptocurrency is a certain set of symbols/characters contained in an information system. It cannot be an object of the civil rights,” it said. But then, earlier in May, an arbitration court of appeals overturned this ruling recognizing cryptocurrency as a valuable property, as news.Bitcoin.com reported. On Thursday, the Ninth Arbitration Court of Appeals published its decision on the case. According to the document quoted by Interfax, cryptocurrency cannot be regarded as anything else but property. And, since the current civil law does not contain the notion “other property”, the widest possible interpretation of property is permissible, the court explained. The question about the status of cryptocurrencies in the Russian Federation will be answered very soon. Two drafts have been filed in the Duma, the lower house of Russia’s parliament, and the one that focuses on legalizing initial coin offerings will have its first reading on Tuesday, May 22. The second bill is expected to amend the country’s Civil Code in order to regulate crypto payments. According to comments made by the Russian Prime Minister Dmitry Medvedev this week, the new legislation will refer to cryptos and tokens as “digital money” and “digital rights”, respectively. Whether this means that bitcoin will be accepted both as currency and property remains to be seen. Do you expect Russia to eventually accept and legalize decentralized cryptocurrencies? Share your thoughts on the subject in the comments section below. Images courtesy of Shutterstock. Need to calculate your bitcoin holdings? Check our tools section. The post Cryptocurrency is Property in Russia, Justice Minister Confirms appeared first on Bitcoin News. View the full article

Cryptocurrency enthusiasts take security and storage seriously, and there are a bunch of different hardware solutions out there. One startup has released a different kind of digital asset hardware wallet that is the same size and shape as a credit card. Due to the design of the new ‘Coolwallet S,’ the wallet can be hidden very easily alongside the option of being carried effortlessly in your back pocket. Also read: Bitcoin in Brief Saturday: Warren Warned By Billboards, Coinbase Tempted by Banking The Credit Card Size and Shaped Coolwallet S Cryptocurrency Hardware Wallet Coolbitx is a Taiwanese financial-tech company founded by Michael Ou in 2014 that creates digital asset hardware wallets as well as smart contract development platforms. Back then the wallet creators started an Indiegogo campaign featuring the credit card shaped hardware wallet that allowed the secure storage of bitcoin private keys. During the Indiegogo campaign, the team raised $21,686 USD through 184 backers, 108 percent of their goal. Moreover, the startup Coolbitx is backed by firms such as Bitmain Technologies, SBI Holdings, Kyber Capital, Midana Capital, and more. The Coolwallet S specs. Basically, the Coolwallet S is the size of a traditional credit card at roughly 85.60 × 53.98 mm with rounded corners. It has a display on the upper left side which shows the wallet’s data like sending and balances. The creators of the Coolwallet S device claim that cryptocurrencies are held in an isolated offline environment and the card’s tactile button ensures an owner’s two-factor authentication process. The Coolwallet S holds five popular digital assets such as Ethereum (ETH), Bitcoin Core (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Ripple (XRP), and an assortment of ERC-20 tokens. What you get for $189 USD. Coolwallet is NFC & Bluetooth Compatible and Also Works With Mobile Phones The wallet developers have made the card flexible, waterproof, and fire resistant as well. The Coolwallet S syncs data via encrypted Bluetooth technology and its NFC (Near Field Communication) charger powers the device with its own power dock. Moreover, the new Coolwallet S can be tethered to a mobile application for Android and iOS devices. “Keep it private, keep it safe, keep it Cool,” says the Coolbitx developers. Have total, end-to-end control over your cryptocurrency with an EAL5+ certified Secure Element microchip on a tamper-proof physical device. The Coolwallet S is a bit more expensive compared to other hardware wallets on the market like Keepkey, Digital Bitbox, Trezor, and Ledger. The Coolwallet S costs $189 but users can purchase a ‘Duo’ package for $299. One thing we noticed when proceeding to the checkout is the wallet has to be purchased with a credit card, as there was no option to pay for this product with a cryptocurrency. This post will be followed up with a step-by-step review of the Coolwallet S as soon as our device arrives. What do you think about the Coolwallet S hardware wallet? Let us know what you think about this device in the comments below. Disclaimer: Bitcoin.com does not endorse this product/service. Readers should do their own due diligence before taking any actions related to the mentioned company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Images via the Coolwallet.io website and Pixabay. Have you seen our new widget service? It allows anyone to embed informative Bitcoin.com widgets on their website. They’re pretty cool, and you can customize by size and color. The widgets include price-only, price and graph, price and news, and forum threads. There’s also a widget dedicated to our mining pool, displaying our hash power. The post A Look at the Credit Card Shaped Hardware Device Called ‘Coolwallet’ appeared first on Bitcoin News. View the full article

Blue Frontiers has signed a much-publicized memorandum of understanding with French Polynesia. The Floating Island Project is exactly as it reads, only it’s to be an independent government complete with its own cryptocurrency. An idea long thought to be a crazy dream of libertarians is now incredibly close to realization. Also read: Alec Baldwin’s Lambo Movie Backed by Crypto Tech Crypto Floating Island Project Nearer to a Reality “A core structural feature of current models of government is centralization,” begins the pitch for an initial coin offering (ICO) pre-sale of Varyon from Blue Frontiers. “Too much centralized authority leads to inefficient bureaucracies and representatives disconnected from the people they are meant to serve. Given a suitable technological solution, governments are ripe for decentralization. That technological solution is seasteading.” The book Seasteading: How Floating Nations Will Restore the Environment, Enrich the Poor, Cure the Sick, and Liberate Humanity from Politicians (Free Press, 2017) caused an immediate media sensation. Written by Joe Quirk and Patri Friedman, it’s the nonfiction account of what seems at the outset to be a sci-fi idea. Dutifully, legacy outlets treated it that way, at times dismissing seasteading as impractical, the stuff of fantasy. “Varyon (VAR),” via the Ethereum chain (1 ETH = 14,750 VAR), ERC-20 token, “is a general purpose payment token for the exchange of goods and services in the Blue Frontiers ecosystem, other ecosystems, and between token holders. Blue Frontiers is planning to use the proceeds of the sale to expand its ecosystem and create Seazones and seasteads, and will only accept Varyon (VAR) for its products and services,” Blue Frontiers claims. A completely unrelated business proposition put seasteading into perspective. Anglo-Dutch oil and gas concern Shell launched its quarter-century at sea project, Prelude. Assembled in Samsung’s Heavy Industries Geoje shipyard, South Korea, Prelude is Shell’s gamble at taking a refinery to natural gas deposits previously imagined out of reach. Longer than the Empire State Building is tall, Prelude’s hull is among the largest ever built. The enormous project is an inspiring construct, stretching four continents and thousands of people. No Longer Just a Dream Prelude is a floating city, and not in the literary license sense. It doesn’t take long to sympathize with Mr. Quirk’s and Mr. Friedman’s vision, even if it’s covered in petroleum-seeking profits at the moment. A floating island, then, isn’t the wacky concept one might be forgiven for at first highly doubting. Combine that real-world use case with modern cruise ships, perhaps linking them together, and it also isn’t terribly hard to consider a country at sea. That’s the idea. Members of the Seasteading Institute, which can count among its members luminaries such as Peter Thiel, created a company bent on making all that theory turn real, Blue Frontiers. Early last year, in fact, the group inked a deal with French Polynesia to effectively use wet territory under its dominion in an attempt to bring to life the Floating Island Project. “Blue Frontiers plans to prototype the first seastead with funds raised from the Varyon (VAR) Crowdsale, and to fund additional seasteads through sales,” the project continues. “The Varyon (VAR) Blue Frontiers holds for seastead and Seazone Construction, Development, and Administration will be used only as needed, in order to create seasteads and Seazones and to strengthen the ecosystem of products and services available to Varyon (VAR) holders.” The distribution of VAR follows pretty standard ICO procedures: “The amount of Varyon (VAR) allotted to seastead/Seazone Construction, Development, Administration is inversely correlated with the amount purchased in the public sale. That is, the more Varyon (VAR) sold in the public sale, the less Varyon (VAR) held for seastead/Seazone Construction, Development, Administration,” Blue Frontiers details. Thus, up to 28% is available during public sale; up to 8% presale; up to 6% for seed funders; up to 15% for the team; and the remainder goes to the project itself, up to 72%.” “Seasteading brings decentralization beyond the digital world of bits and into the world of atoms by providing modular, floating structures – seasteads – on which the evolution of new societies and forms of governance can occur,” Blue Frontiers asserts. “Promising solutions can branch off at any time by physically separating to create new seasteads – enabling a high level of evolvability and quick rate of adaptation. Mimicking nature’s time-tested method of variation and selection, the process of decentralizing governance through seasteading will spark the creation and evolution of new advancements in civilization.” Did you think projects like seasteading will eventually get off the ground? Let us know what you think of this subject in the comments below. Images via Pixabay, Seasteading Institute, Blue Frontiers 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 Crypto Floating Island Project Closer to Realization appeared first on Bitcoin News. View the full article

A Japanese government-approved cryptocurrency exchange has resumed expanding overseas. Already operating in five countries with a plan to launch in more in the near future, the exchange aims to construct a global network of crypto transactions. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Building Global Network Bitpoint Japan was among the first crypto exchanges to be fully licensed by the Japanese Financial Services Agency (FSA). It is a subsidiary of Remixpoint (3825.T), a listed company on the Tokyo Stock Exchange. Bitpoint has started a new round of expansion overseas, after entering a few countries last year. The company announced on Thursday that its Malaysian exchange has begun operations. The Kuala Lumpur-based Bitpoint Malaysia opened its doors on May 17, offering spot trading and leverage trading. The fee for spot trading is 0.5% while leverage trading carries no fee. Deposits and withdrawals in Malaysian Ringgit are free during the grand opening. The exchange wrote: We offer leverage of 2, 5, 10 and 25 times. Five cryptocurrencies are supported: BTC, ETH, BCH, LTC, and XRP. Bitpoint Japan says it “will support Bitpoint Malaysia as a system and liquidity provider.” Global Operations In addition to Malaysia and Japan, Bitpoint is also operating in South Korea, Taiwan, and Hong Kong. The exchange also opened an office in China in July last year before the Chinese government shut down all crypto exchanges in the country. In addition, the exchange is reportedly preparing to enter Singapore, Thailand, and other Asian markets in the near future. Bitpoint detailed: By continuing to provide overseas exchanges using the Bitpoint system in the future, we will continue to realize the construction of a global network of virtual currency transactions. Tougher Rules and Competition in Japan Since the hack of Coincheck, one of the most popular crypto exchanges in Japan, the FSA has tightened its cryptocurrency oversight. The country still has 16 fully-licensed crypto exchanges, which have recently formed an association to focus on self-regulation in an effort to rebuild public trust in the crypto industry. However, out of the 16 “deemed dealers,” which are those allowed to operate while their applications are being reviewed by the FSA, only 8 remain. The agency recently revealed that the other 8 have indicated that they are withdrawing their applications. Meanwhile, the agency confirmed that over 100 companies are seeking to enter the space, including Yahoo! Japan and Line Corp, which operates the popular chat app Line. What do you think of Bitpoint’s global expansion plans? Let us know in the comments section below. Images courtesy of Shutterstock and Bitpoint. Need to calculate your bitcoin holdings? Check our tools section. The post Japanese Crypto Exchange Continues Global Expansion – Now in Five Countries appeared first on Bitcoin News. View the full article

A Chinese government-backed industry organization has published a report on fake cryptocurrencies. As of April, its monitoring platform has found 421 fake cryptocurrencies, 60% of which are deployed overseas. The Committee has also outlined major red flags of these cryptocurrencies. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space 421 Fake Cryptocurrencies The National Committee of Experts on the Internet Financial Security Technology (IFCERT), a Chinese government-backed industry organization, published the results of its analysis on fake cryptocurrencies on Friday. Citing that “In recent years, virtual currencies represented by bitcoin, litecoin, ethereum, etc. have received continuous attention,” IFCERT pointed out that “some criminals are engaged in financial fraud or pyramid schemes under the cover of virtual currency.” The Committee added that fake cryptocurrencies frequently appear, “causing investors to suffer major losses.” IFCERT’s National Internet Financial Risk Analysis Technology Platform continuously monitors fake cryptos, the Committee detailed, elaborating: As of April 2018, the technology platform has found 421 fake virtual currencies, of which more than 60% of fake virtual currency website servers are deployed overseas. Such platforms are difficult to find and difficult to track. The Red Flags The Committee outlined some major red flags of these fake cryptocurrencies. Firstly, they adopt “pyramid-based” business models, claiming that their cryptocurrencies will generate high returns. Secondly, they have no real code, IFCERT described, noting that they either do not have a blockchain or cannot generate blocks for one. Thirdly, they will not be traded on legitimate cryptocurrency exchanges, “so they often trade on over-the-counter or proprietary exchanges,” the report detailed, adding that: There is a phenomenon that prices [on these platforms] are highly controlled by institutions or individuals, which tends to cause the illusion of rapid price increase. However, users often cannot conduct transactions or withdraw cash. IFCERT emphasized that fake cryptocurrencies have no value and are illegal, asserting that “Many of these platforms do not have business premises and business information, and servers are often deployed overseas,” so it will be difficult to recoup any losses for victims. 271 Fake ICOs On Thursday, the Wall Street Journal independently published its finding after a review of documents produced for 1,450 initial coin offerings (ICOs). The publication “has found 271 with red flags that include plagiarized investor documents, promises of guaranteed returns and missing or fake executive teams.” Investors have poured more than $1 billion into these 271 ICOs, the publication detailed, adding that “some of the firms are still raising funds, while others have shut down. Investors have so far claimed losses of up to $273 million in these projects, according to lawsuits and regulatory actions.” Do you think there are many more fake cryptocurrencies? Let us know in the comments section below. Images courtesy of Shutterstock and IFCERT. Need to calculate your bitcoin holdings? Check our tools section. The post China Has Found 421 Fake Cryptocurrencies appeared first on Bitcoin News. View the full article

Digital asset markets are doing some healing during the past 24-hours of trading after touching some lows the day prior. At the moment the entire cryptocurrency market capitalization of all 1,600+ tokens is around $377Bn with around $16Bn worth of 24-hour trade volume. Bitcoin Core (BTC) markets are up 2.3 percent averaging $8,314 per coin while Bitcoin Cash (BCH) prices are up 1.5 percent at around $1,180 per BCH. Also read: “Stablecoin” Trueusd Pumps After Binance Listing The Week-Long ‘Consensus Pump’ Never Came to Fruition The mid-May ‘blockchain week’ Consensus pump never materialized last week even though there was plenty of positive cryptocurrency news. During the course of the week, most digital assets in the top 500 lost a good portion of gains. This weekend is a different story as a bunch of markets are seeing some recovery from the dips. Bitcoin Cash markets are up 2.3 percent averaging roughly $1,188 per BCH at the time of publication. The decentralized currency’s 24-hour trade volume has dropped considerably to $683Mn which doesn’t give traders hope for a bigger weekend push. The top five exchanges swapping the most BCH today include Okex, Huobi, Hitbtc, Lbank, and EXX. BTC pairs with BCH has increased significantly as BTC represents 41 percent of today’s BCH trades. This is followed by tether (USDT 30%), USD (13%), KRW (11%), and the Euro (1.2%). BCH/USD prices on May 19, 2018. BCH/USD Technical Indicators Looking at the BCH/USD four-hour charts on both Bitstamp and Bitfinex shows bulls need to muster up more strength to break upper resistance. The two Simple Moving Averages (SMA) still have a gap with the 100 SMA above the 200 SMA indicating a good path to the upside. However even though there is a gap it looks as though the two trend lines may cross hairs shortly. RSI oscillator levels point towards an oversold region at 38, and the MACd indicates there will be improvement shortly as well. Looking at the order books towards the upside shows bulls have gigantic sell walls to eat through between the current vantage point and $1,250. On the back side if the BCH bears remain in power there are still some solid foundations between now and $1,130. Traders are looking out for some deeper consolidation before the next breakout as positions currently look like musical chairs at the moment. BCH/USD prices on May 19, 2018, Bitfinex $1,880 per BCH. The Top Digital Currencies See Some Recovery Overall most cryptocurrencies today are in the green and nurturing the market wounds from the past 72-hours. Bitcoin Core (BTC) prices are doing decent rebounding today at $8,318 per coin but trade volumes are also low at $5Bn. Ethereum (ETH) the second highest valued market cap is doing very well as markets are up 4.3 percent. One ETH is trading at $708 during Saturdays mid-afternoon trading sessions. Ripple (XRP) prices are up 2.1 percent as each XRP trades at $0.68 cents. Lastly, the fifth position held by EOS is doing the best out of the top five contenders as EOS prices are up 5.6 percent — a single EOS today trades for $13.13 per token. The Verdict: Bullish Optimism Wanes Optimism is there among cryptocurrency traders and enthusiasts but people are becoming skeptical of the positivity and those predicting bullish pumps. Of course, while the dips take place traders are finding shelter in Tether, and True USD while they wait out the storm. For now, there’s a whole lot of consolidation happening until traders decide when the next big move happens which could go either way at this vantage point. Where do you see the price of BCH and other cryptocurrencies headed from here? Let us know in the comments below. Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.” Images via Shutterstock, Trading View, and Satoshi Pulse. Want to create your own secure cold storage paper wallet? Check our tools section. The post Markets Update: Digital Assets Show Recovery After the Past Three Days of Dips appeared first on Bitcoin News. View the full article

The Satoshi Revolution: A Revolution of Rising Expectations Section 3: Decentralization Chapter 8, Part 2. Decentralization is the Core of Crypto Freedom Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it’s the only thing that ever has. Always remember that you are absolutely unique. Just like everyone else. Never believe that a few caring people can’t change the world. For, indeed, that’s all who ever have. –Margaret Mead Cryptocurrency decentralizes financial power down to the most basic unit of society: the individual. It empowers the average person who now has a viable alternative to corrupt government fiat and central banking systems. Crypto is profoundly individualistic in other ways. Consider just one. “The revolution of rising expectations.” The phrase refers to a situation in which an increase in prosperity and freedom leads people to believe they can improve their lives through their own efforts. The belief makes them demand political changes that allow more prosperity, more freedom. The average person is not a freedom fighter, and their demand for change need not hinge on ideology. They simply want a better life for their children. The phrase arose after World War II had destabilized the power structure of the world. Former colonies from the Far East to Latin America and Africa threw off imperialism and despotism because average people glimpsed another option to conformity: individual freedom. The advent of cryptocurrency is destabilizing the financial structure of the world, and it has caused a second revolution of rising expectations. It does not occur on the national level but within the lives of individuals, who can finally control their own finances in privacy and with confidence. This has deep political implications, of course, because independent people are less likely to obey. And, yet, voices within crypto deny that the phenomenon is individualistic. Their argument usually runs as follows: cryptocurrencies depend on a cooperative network of miners, nodes, developers, and administrators. In short, it is collective. This reveals a confusion about the meaning of individualism What is Individualism? As a social theory, it means advocating the freedom of individuals as opposed to the power of a collective, especially the state. As a personal matter, it means people make their own peaceful choices, especially the choice to say “no.” Individualism is often misconstrued as a “rugged” independence from the desire or the need for society. In some cases, that may be true. But usually the opposite applies because human beings seek interaction almost as much as they seek food and shelter. In his masterpiece, Human Action, the Austrian economist Ludwig von Mises explained, “If praxeology [the study of human action] speaks of the solitary individual, acting on his own behalf only and independent of fellow men, it does so for the sake of a better comprehension of the problems of social cooperation. We do not assert that such isolated autarkic human beings have ever lived and that the social stage of man’s nonhuman ancestors and the emergence of the primitive social bonds were effected in the same process. Man appeared on the scene of earthly events as a social being. The isolated asocial man is a fictitious construction.” Interacting in society or joining a network actually increases individualism because it allows each person to reach his or her potential and to achieve goals that are impossible in isolation. Jointly-produced wealth can be far more abundant than privately-produced wealth, leaving everyone involved richer. It is precisely this sort of social cooperation that has made mankind dominate the planet. The only relevant question is: do they interact voluntarily or against their will? Are they free to say “no”? The value of society depends upon the decentralization of power down to the individual. If power is centralized by a state or another collective, then society can easily become a disvalue. Peaceful acts, such as using drugs, can result in prison; property can be confiscated for violating an unreasonable law; children can be kidnapped by a state agency, whether or not abuse has occurred. A Less Obvious Lesson from Satoshi A cooperative system is immensely valuable to individuals. In the case of Satoshi, he provided it for free because he wanted to change the world for the better, and freedom is the path to that destination. The revolution offered by Satoshi Nakamoto is a perfect illustration of how genuine individualism works in society. Economic control is vested in the hands of individuals, where it firmly remains. People can store their wealth in private wallets and conduct international trade, without going through a banking system that is an extension of the state. Trusted third parties, such as banks, are replaced by individuals, such as miners. It does not matter if the miners are part of a collective effort. It only matters that each one participates voluntarily and can say “no” at any point. If that is the case, then they remain full individuals who choose to function within a cooperative effort. The decentralization of economic control is reinforced, not contradicted, by the cooperation of a network of people—all of whom act in their own self-interest. That’s as it should be. And, yet, all of the strangers benefit each other, even though they are strangers who might not care for each other should they ever meet. That is true society. It is also the reason why all state efforts to control cryptocurrency revolve around centralization. Central banks attempt to issue their own crypto in order to usurp the market. Centralized exchanges dominate trades, which they report religiously to the state. Privacy renegades are imprisoned, or otherwise slapped down hard. Private cryptos, like Monero, are accused of being “drug money,” even while state-issued crypto is regarded as pure as fresh-fallen snow. Decentralized, or private systems, are demonized when they are actually the true hope for financial freedom. Which, to a statist, probably makes them demons. The free market and individual rights are often blamed for the problems of society. The free market exploits and individuals make the wrong decisions; or, so the story goes. And, sometimes, the story is true. But the free market and individual rights are blamed not for the wrongs they commit but because they pose the greatest threats to social control. The libertarian touchstone, Murray Rothbard, explained the difference between “free market exploitation” and state control. “If I cease or refrain from purchasing Wheaties on the market, the Wheaties producers do not come after me with a gun or the threat of imprisonment to force me to purchase; if I fail to join the American Philosophical Association, the association may not force me to join or prevent me from giving up my membership. Only the state can do so; only the state can confiscate my property or put me in jail if I do not pay its tax tribute. Therefore, only the state regularly exists and has its very being by means of coercive depredations on private property.” Decentralization of power to the individual, who chooses to buy Wheaties or not, is the acknowledged lesson of Satoshi. The largely overlooked one is that human beings in cooperation with each other is a basic expression of individualism. Conclusion “The revolution of rising expectations.” What people need more than anything else is hope; it drives revolutions that occur despite tremendous obstacles, and it creates peaceful societies in which people prosper. But, sooner or later, hope must be based on evidence that there is reason to do so. Cryptocurrency is not merely evidence, it is proof. It is also individualistic, because nothing inspires individualism as much as the belief that life can become better through effort and merit. [To be continued next week.] Reprints of this article should credit bitcoin.com and include a link back to the original links to all previous chapters Wendy McElroy has agreed to ”live-publish” her new book The Satoshi Revolution exclusively with Bitcoin.com. Every Saturday you’ll find another installment in a series of posts planned to conclude after about 18 months. Altogether they’ll make up her new book ”The Satoshi Revolution”. Read it here first. The post Wendy McElroy: Decentralization is the Core of Crypto Freedom appeared first on Bitcoin News. View the full article

Japanese exchange Coincheck has confirmed that it is delisting three privacy coins: monero, dash, and zcash. Augur’s reputation token will also be delisted next month. The exchange made this decision after receiving a business improvement order from the country’s financial regulator following the NEM hack. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Coincheck Delisting 4 Cryptocurrencies Following reports that Coincheck was going to delist monero (XMR), zcash (ZEC), and dash (DASH), the exchange has now confirmed that those cryptocurrencies will be delisted along with Augur’s reputation token (REP). The four cryptocurrencies will be delisted on June 18, Coincheck emphasized, adding: The target currencies [XMR, ZEC, DASH, and REP] held on the discontinued date will be sold at the market price and converted into Japanese yen. The sales’ proceeds will then be credited to the customers’ accounts. Before that date, customers can sell or transfer these cryptocurrencies. The exchange says it has received many transfer requests, warning that it may be several days to complete the transfers. Business Improvement Order Following the NEM hack in January, Coincheck received a business improvement order from the Japanese Financial Services Agency (FSA) on March 8. The exchange is a “deemed dealer,” meaning it has been allowed to operate while its application is being reviewed by the agency. The exchange has now been acquired by Monex Group. After delisting the above cryptocurrencies, Coincheck will continue to support BTC, ETH, ETC, LSK, FCT, BCH, XRP, XEM, and LTC. In complying with the FSA order, the exchange says it is “drastically reviewing” its internal control and management control systems, as well as rethinking its “management strategy that thoroughly protects customers,” the announcement reads, adding that: It is necessary [for us] to further develop and strengthen the management system of AML / CFT [Anti-Money Laundering/ Counter-Terrorist Financing] in the future. Monex CEO Oki Matsumoto “expects the exchange to secure an official license in Japan next month,” Fortune reported on Friday. FSA Cracks Down on Privacy Coin Listings Nikkei reported earlier this month that the FSA has set new criteria for crypto exchanges. One of them concerns the types of cryptocurrencies listed on exchanges. “Those granting a high level of anonymity and easily used for money laundering will as a general rule be banned,” the news outlet described. The FSA “strongly requests money laundering and counter-terrorist financing measures not only for Coincheck but also for other virtual currency exchange operators,” News24 wrote. Out of the 16 licensed crypto exchanges in Japan, none have listed XMR, ZEC, DASH, or REP on their applications with the FSA. What do you think of Coincheck delisting the four cryptocurrencies? Let us know in the comments section below. Images courtesy of Shutterstock, Nikkei, and Coincheck. Need to calculate your bitcoin holdings? Check our tools section. The post Coincheck Delists XMR, DASH, ZEC, REP – Prompted by Japanese Regulator appeared first on Bitcoin News. View the full article

In Bitcoin in Brief today, billionaire Warren Buffett has been reminded that he was wrong about Google and Amazon, and told he might be wrong about bitcoin, too. Billboards have appeared outside his office to convey the message of the crypto community. Also, a report suggests that the US cryptocurrency exchange Coinbase may apply for a banking license. Some conflicting views on the future of the Internet and its money complete Saturday’s roundup. Also read: Bitcoin in Brief Friday: UN Backs Crypto-Solar Project in Moldova, Malta Uses Blockchain in Public Transportation “Warren: Maybe You’re Wrong About Bitcoin?” Billionaire investor Warren Buffett, known for his negative attitude towards cryptocurrencies, has been targeted in a bitcoin advocacy campaign lead by one of the largest cloud mining companies. Genesis Mining has recently posted billboards in front of Buffett’s office reminding him that he was wrong about Google and Amazon, and telling him that he may very well be wrong about bitcoin, as well. The initiative has received a lot of support from the crypto community on social media. Genesis co-founder Marco Krohn posted on Twitter photos of the message to the investment guru with a short note saying: “Some new billboards outside of Warren Buffetts office! :)” Earlier this month, the American business magnate issued another warning in regards to bitcoin and the like. “Cryptocurrencies will come to a bad ending,” he said during the annual Berkshire Hathaway’s shareholder meeting, but he didn’t stop there. “If I could buy a five-year put on every one of the cryptocurrencies, I’d be glad to do it but I would never short a dime’s worth,” he said, concluding that bitcoin is “probably rat poison squared.” Needless to say, Buffett’s comments provoked reactions and even inspired new business ideas. A tokenized marketplace called Ecoinmerce has announced the “Rat Poison Squared clothing line.” Т-shirts and hats are already offered online, but one can also order a mug with the winged phrase. The Money of the Internet and the Internet of Money Square CEO Jack Dorsey has recently reiterated his views about bitcoin. “The internet is going to have a native currency, so let’s not wait for it to happen, let’s help it happen,” he said during a blockchain conference, adding: “I don’t know if it will be bitcoin but I hope it will be.” Dorsey, who is also the chief executive of Twitter, wants his payment processing company to be at the forefront of the efforts to achieve adoption of cryptocurrencies as global means of payment. In an interview in March, he predicted that there will be a single world currency in the next ten years. The billionaire believes that will be bitcoin, although he admits the cryptocurrency is still slow and costly. Circle co-founder and President Sean Neville, however, has a different vision of what’s to come for the digital space and the digital currencies. “Very excited about the idea of reimagining what global finance can be,” he says that a dollar token is the future of the Internet of money. “One of the things that’s interesting for us is how we take fiat money and put in on blockchains, how do we get the benefits of a public blockchain infrastructure, which might underpin something like HTTPS of money,” he told Bloomberg. Neville thinks there is a problem with using existing crypto assets for payments and settlements – they are very volatile. “So, it makes sense to have something like the US dollar represented as a token that can transfer anywhere in the world, to any digital wallet and any exchange that can support it,” he explained. Sean Neville, whose company raised $110Mn USD in a fundraising round led by Chinese giant Bitmain, believes that “we need a replacement for SWIFT.” He also predicted that eventually everything of value will be tokenized in a “hybrid world” of centralized and decentralized services. Boston based Circle has announced plans to issue a dollar-backed cryptocurrency called USD-C. Coinbase May Apply for a Banking License By attracting some serious investments, Circle has actually joined the club of the most well-funded cryptocurrency companies. Another of its members, Coinbase, seems tempted to expand its financial business to include banking services. According to a report by the Wall Street Journal, representatives of the crypto brokerage have met with US regulators to talk about the possibility to apply for a banking license. A source quoted by the WSJ has revealed, that the company, which operates the largest cryptocurrency exchanges in the United States, has contacted officials from the US Office of the Comptroller of Currency earlier this year to discuss the matter. Beside the opportunity to broaden the types of products it offers, a banking license would allow Coinbase to operate without the need to partner with banks. What are your thoughts on today’s Bitcoin in Brief stories? Tell us in the comments section below. Images courtesy of Shutterstock, Marco Krohn (@mkrohn5). Bitcoin News is growing fast. To reach our global audience, send us a news tip or submit a press release. Let’s work together to help inform the citizens of Earth (and beyond) about this new, important and amazing information network that is Bitcoin. The post Bitcoin in Brief Saturday: Warren Warned By Billboards, Coinbase Tempted by Banking 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 popularity of massive multiplayer online games and virtual worlds has grown tremendously during the last 20 years, and some of the largest services have seen tens of millions of users. Now you have the opportunity to take part in the creation of the exciting blockchain universe that opens new galaxies for you. Last Tuesday, the first Nordic blockchain game ICO commenced following on from a successful pre-sale earlier this year. The Parsec Credit token will be used in the game making it the core of the economy. It can also be exchanged for Ethereum. And as the players accumulate wealth in-game, they also accumulate real world money. The developers aim to get Parsec tokens on as many cryptocurrency exchanges as possible and make it a liquid currency not just in the game, but also in the real world. Blockchain and Game Parsec Frontiers is regarded as one of the most exciting blockchain games in development, as it’s one of the first full games that deploys blockchain technology at the core of it’s virtual economy. Just recently Parsec Foundation and Artplant opened the auction for the first spaceships to be available in its game. The ARK-class ships is a limited edition available to the first 100 players, beginning with an auction that started on May, 15. “It’s a very natural step for a game like this to embrace blockchain technology to empower the virtual economy driving the game.” says Henning Rokling, the founder of the Parsec Foundation and COO in Norwegian game developer Artplant. “Not only will it give players full transparency of what assets, ships and resources are available and tradable, but it will also allow players to invest time or money into a game and also bring those investments out of the game if they want to.” Largest NEO Based MMO Early in May, Parsec Frontiers developers also made the key decision choosing Neo customized networks instead of EOS.IO. It was a well-considered choice, as Neo has very advanced smart contracts which support several mainstream languages including C# and Java, which will be used by players along with the diagram-based solution they’re considering implementing. Parsec Frontiers is by far the largest game to choose NEO. For more information about Parsec Frontiers, please visit www.parsecfrontiers.com About Parsec Frontiers A rich and immersive space MMO with focus on trading, exploring and populating the galaxy in the years after Earth has been rendered uninhabitable by our own actions. With the virtual economy in the game backed by blockchain technology «Parsec Frontiers» adds a completely new element to such games, allowing players to trade and make a profit even before the game launches. The full game is set to launch in December 2019. About Artplant Artplant a Norwegian online game developer founded by Funcom and Innerloop veterans in 2001. It focuses on creating competitive player-versus-player games and made its name developing the «Battlestar Galactica Online» game, and later the popular «Block N Load» on Steam. Is currently working on two major games, the blockchain-based space MMO «Parsec Frontiers» and the tactical shooter «Project I.G.I.». The company has studios in Oslo, Norway, and Tver, Russia. Contact Email Address alex.drofa.ra@gmail.com Supporting Link www.parsecfrontiers.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: Parsec Frontiers Opens Doors to New Galaxies with Its ICO appeared first on Bitcoin News. View the full article

On Friday, May 18, 2018, the firm Purse.io, the company that enables up to 20 percent savings when users shop on Amazon with Bitcoin Core (BTC), announced native support with Bitcoin Cash. Now users spending Bitcoin Cash can get the same services the firm has been offering since 2014. Additionally, Purse has revealed its own Bitcoin Cash (BCH) Javascript library for node.js called ‘bcash.’ Also read: “Stablecoin” Trueusd Pumps After Binance Listing Purse.io Adds Native Support for Bitcoin Cash This week at the Coingeek conference in Hong Kong, the firm Purse announced native support for BCH alongside its new client release ‘bcash.’ Right out of the gate during this formal announcement, the firm details that a marketplace like Purse depends on cryptocurrencies that don’t rely on “speculative interest or enthusiasm alone.” The company says the average order on Purse is around $100 and the average discount is about $15 and two on-chain transactions. Then Purse says they witnessed the grueling debate last year, while BTC transactions climbed to $50 per transaction. Now Purse has added Bitcoin Cash to the platform with full native support. “We’re excited about the vision of a cryptocurrency for commerce and appreciate the overwhelming support from the Bitcoin Cash community — We’re thrilled to announce native Bitcoin Cash,” Purse explains in a blog post. The update is being tested to ensure a smooth experience with a target live date by the end of May. In addition, once Bitcoin Cash goes live, users who missed the post-fork withdrawal period will be happy to see their balance restored. Introducing ‘bcash’ an Implementation Not a Currency In addition to the native support Purse has also unveiled the bcash implementation — an open source fork of the client bcoin, for the Bitcoin Cash network. Basically, bcash is an alternative implementation of the bitcoin cash protocol, written in node.js. The client can act as a full and SPV node, a wallet backend with BIP-44 derivation, a mining backend, and a general purpose BCH library. The bcash implementation will be the sixth BCH client joining Bitcoin ABC, XT, Unlimited, Parity, and Bitprim. “We’re delighted to announce bcash, a bcoin implementation for Bitcoin Cash,” Purse details. We’re excited about projects including Yours, Joystream, Memo.cash, and Openbazaar, and excited to see new use cases emerge. Bcash is open source and ready for testing today. Two Crypto Nerds Agreeing? Purse says to celebrate the Bitcoin Cash addition they have collaborated with the Bitcoin Cash Fund and customers who shop will earn a BCH cashback bonus this June. “Going to from ‘One to Two’ has been challenging on technical and emotional levels — Over 25 crypto nerds work at Purse — When’s the last time you heard even two crypto nerds agree on anything?” Purse adds. What do you think about Purse adding native support for Bitcoin Cash and the new bcash implementation? Let us know what you think about this subject in the comments below. Images via Purse, bcoin, and Shutterstock. 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 Purse.io Adds Native BCH Support and Launches ‘Bcash’ appeared first on Bitcoin News. View the full article

Coincheck, the Japanese crypto trading platform that found new owners after it was hacked earlier this year, is now planning to offer services on the US market. The exchange expects to be licensed in Japan next month, according to the chief executive of Monex, the online brokerage which bought the troubled company last month. Also read: Coincheck Resumes Monero Withdrawals and Sales Coincheck’s US Plans – Part of the Comeback Recognizing the need to “study carefully” the legal framework for cryptocurrencies in the US, Japanese exchange Coincheck is planning to expand its operations and its customer base in America, building on top of over 2 million accounts in Japan. No timeframe has been specified yet, but the move is under consideration by the platform’s new management. Its operator, Coin Check Co., became a wholly owned subsidiary of Monex Group in April after losing some ¥58 billion worth of NEM (~$550 million USD at the time) in a hacker attack in January – one of the biggest heists in crypto history. “The legal framework for cryptocurrency in the US is somehow wandering right now – money transfer, commodity, security. And, the rules are different state by state. So, we have to study this carefully. But the short answer is ‘yes’,” Monex CEO Oki Matsumoto told Bloomberg in an interview about Coincheck’s future intentions. He also revealed that the exchange, which spent a lot of funds and efforts to improve security and restore confidence, is expecting to receive a license in Japan next month. Matsumoto’s comments indicated that bringing the trading platform to the US is also part of the plans for the comeback. For many observers, the purchase of the notoriously hacked cryptocurrency exchange for $34 million might have looked like a risky investment, but the takeover has so far proven to be a positive move for Monex. Its shares have almost doubled in price since the news of the acquisition broke in April. Doing crypto business in the US may not seem like a great idea either, given that the company comes from Japan, a country known for its much friendlier crypto atmosphere. A Different Perspective of the West Matsumoto, however, has a different reading of the situation as he sees favorable conditions forming in the West, including lower taxes and growing interest from institutional money managers. France was mentioned in the interview in the light of last month’s government decision to lower the crypto capital gains tax rate by more than half – to 19 percent, compared to Japan’s 55 percent. Another sign of the warming climate in Paris was the Finance Minister Bruno Le Maire’s statement this week that he was wrong about cryptocurrencies before. “I was a neophyte a year ago, but now I’m passionate. It took me a year, so let’s […] make France the first place for blockchain and crypto innovation in the EU,” Le Maire was quoted as saying at a meeting with entrepreneurs and representatives of the French startup Blockchain Partner. According to Bitcoin.fr, he also assured the members of the French crypto community of his “total support.” The Japanese government does not plan any tax cuts for crypto-related incomes and gains and that, according to Oki Matsumoto, means that cryptocurrency will remain a “plaything for speculators.” Despite legalizing crypto trade last year, Tokyo has yet to determine the status of crypto-related financial products such as futures contracts, which will require some amendments to the Japanese securities law. “Japan may seem like it’s one step ahead in crypto, but in terms of deciding what’s a security or a token, and in terms of attracting institutional investors, the US and Europe are moving ahead,” the chief executive of Monex said. In his opinion, the classification of cryptocurrencies in the United States will create regulatory clarity which is necessary to draw more investors. Matsumoto believes that the decisions US regulators take will influence the role of cryptocurrencies, in general, and have a huge impact on the crypto policies in his country, in particular. What are your expectations for the future of crypto industries in both Japan and the US? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Need to calculate your bitcoin holdings? Check our tools section. The post Japanese Exchange Coincheck Eyes America for Expansion appeared first on Bitcoin News. View the full article

If you work in cryptocurrency and are a member of Linkedin, you’re probably familiar with OTC bitcoin brokers. They’ll message you, out of the blue, asking if you know any private sellers, and will offer to set up a deal for your mutual benefit. The majority of these men (for they are always men) are genuine in their intentions. This does not disguise the fact, though, that BTC brokers are little more than sharks circling the same prey. Also read: Research Paper Finds Transaction Patterns Can Degrade Zcash Privacy Brokers Outnumber Buyers and Sellers 100:1 Anyone can become a bitcoin broker: change your Linkedin title to “OTC Bitcoin Broker” and you’ve done it. Brokerage is a job that, like most cryptocurrency roles, outside of development, requires no formal qualifications. Just as anyone can call themselves an ICO advisor, anyone can assume the mantle of bitcoin broker, consigning them to start spamming Linkedin users for buyers and highly coveted sellers. To understand the viral spread of brokers, it’s necessary to understand the conditions that led to large OTC sellers coming about. Back in the day, it was possible to acquire a lot of bitcoin for very little money. A lot of people mined it; some made it from trading shitcoins; and a few simply bought a bunch of BTC and then had the presence of mind to hodl, through thick and thin, for years. Most brokers will take on anything from 500 BTC upwards as an OTC deal, often operating on behalf of family funds seeking to acquire bitcoin in bulk. But what brokers are really chasing is the big one – deals of 10,000 BTC or more, in which a brokerage commission of 3% is worth millions of dollars. The number of bitcoin addresses containing between 10k and 100k BTC sits at little more than 100, however, and while some sellers have their coins distributed across multiple wallets, bona fide whales looking to sell are rare. Because the rewards for finding one are so great, a swarm of brokers, each chasing “the big one”, has proliferated. How an OTC Deal Works Sellers want to sell OTC to avoid the sort of slippage that occurs when unloading large amounts of BTC on an exchange. Whales also value their privacy, and while they are still required to undergo KYC to complete an OTC deal, their identity is only going to be shared with the broker, their attorney, and the escrow service. Normally, even the buyer won’t know the identity of the person they are buying the coins from. The seller provides “proof of satoshi” by moving a fraction of a bitcoin from the wallet they control, the buyer provides proof of funds in the form of a bank certification of deposit or credit and a non-disclosure agreement (NDA) and a letter of intent (LOI) are signed. The process usually works as follows: Attorney for the buyer prepares LOI detailing terms including BTC purchase amount, commission, net discount and other details Proof of funds is provided within a specific timeframe of signing the LOI. A screenshot is not accepted: cryptographically provided proof of coin, sent via the blockchain, is required Master Fee Protection Agreement as well as Draft Purchase Agreement and Escrow Agreement may then be circulated and signed by all parties Money is placed in escrow, escrow verifies receipt of funds and BTC is sent to buyer’s wallet Transfer may be done in full or in tranches depending on the agreement Given the desire of buyer and seller to preserve their privacy, and the need for each party to be connected in the first place, brokers play a vital role. But due to the lucrative prize at stake, it’s a job that attracts a lot of chancers – and a lot of Linkedin requests, much to the chagrin of other cryptocurrency users. Have you been contacted by bitcoin brokers and do you think they’re a nuisance or an essential link in the OTC chain? Let us know in the comments section below. Images courtesy of Shutterstock and Bitinfo Charts. Need to calculate your bitcoin holdings? Check our tools section. The post Inside the Competitive World of OTC Bitcoin Trading appeared first on Bitcoin News. View the full article