Online Cash Bitcoin Could Challenge Governments, Banks

guest · Jul 2, 2018

Mythbusting: Why Bitcoin Can Never Go to Zero
July 1, 2018
https://cointelegraph.com/news/mythbusting-why-bitcoin-can-never-go-to-zero

The volatile, unprecedented, and revolutionary monetary system that is cryptocurrency has a future that not many can accurately predict, but as time has gone on, the idea that Bitcoin is going to zero seems more and more far fetched.

Bitcoin is barely 10 years old, and has gone from being worth zero to being worth $20,000. So, as we sit with the price lower than many would have hoped, is it feeble to think it can reach as low as zero?
Intrinsically unstoppable
While its adoption continues to grow and become more entrenched as a technology and a financial system in everyday life, Bitcoin and cryptocurrencies — as well as blockchain — becomes harder and harder to simply move on from.

But even more than that, now that it is becoming established, it is also showing that it is harder to kill than, say, a stock, a technological fad or countless other comparisons which can die.
Too many vested parties
This system of decentralized, adaptive, autonomous and democratic money has too many vested parties and too many strong characteristics, making it hard to eliminate totally in its current form.
Click to expand...

Minimalist · Jul 2, 2018

mood said: ↑

Mythbusting: Why Bitcoin Can Never Go to Zero
July 1, 2018
https://cointelegraph.com/news/mythbusting-why-bitcoin-can-never-go-to-zero
Click to expand...

Even if it doesn't go to zero, what would happen if it's value would get lower than costs to mine it and if nobody would want to mine it anymore?

ronjor · Jul 2, 2018

Over 800 cryptocurrencies are now worthless

By Michael Grothaus 07.02.18
That’s according to the website Dead Coins, which tracks ICOs of cryptocurrencies across the globe (via CNBC). The site has found that more than 800 cryptocurrencies are now worth less than a cent. That’s despite ICOs taking in $3.9 billion in 2017 and $11.9 billion in 2018 so far. So what are all these worthless cryptocurrencies? Many were scams or a joke or simply cryptocurrencies that failed to materialize.
Click to expand...

guest · Jul 2, 2018

This smart contract scanner will ensure your token is tip-top
July 2, 2018
https://techcrunch.com/2018/07/02/this-smart-contract-scanner-will-ensure-your-token-is-tip-top/

A group of researchers at ETH Zurich have created an Ethereum smart contract scanner that will check your smart contracts for bugs, exploits, or potential problems.

“The main technical challenge in building an effective security scanner for smart contracts is finding a way to explore all behaviors of the contact, [...] Our new Ethereum scanner considers all behaviors of the contract to solve the challenge, rather than avoid it. Indeed, a study on open-source Ethereum contracts reveals that existing solutions can miss up to two-thirds of vulnerabilities due to insufficient coverage.”

The project is self funded and the team was clear that they would never launch an ICO. You can check out the beta version of the scanner here.

A quick test of the new feature showed how quickly and precisely the system could find exploits, which was quite interesting. Given these contracts will be managing millions of dollars in capital down the line, it’s better to be safe than very, very sad.
Click to expand...

guest · Jul 2, 2018

Over $1 Million Stolen Fund: ICO Influencer Ian Balina Revealing Identities Of Hackers
July 2, 2018
https://ethereumworldnews.com/over-...r-ian-balina-revealing-identities-of-hackers/

Respected cryptocurrency influencer, investor and YouTuber, Ian Balina, whose nothing less than $1 Million fund was stolen in a wallet has come out on Twitter to throw light into the April hack which many pointed was cooked by him to evade tax.

Ethereum World News [...] it appeared the hacker got access to Balina’s Evernote account where he kept the text versions of his private keys as encrypted text files with passwords.

Earlier, Balina in a conversation with Gizmodo made known that the hackers have been identified.
“I’ll be ready to talk when the criminal has been arrested. We have identified who did it and this is a lot bigger than me. Other big names in crypto have been hacked by this criminal [...]

While assuring crypto lovers that the hackers are going to be apprehended, he said International law enforcement is actively monitoring every single move they make, and will make sure they are fished out in no time.
Click to expand...

Minimalist · Jul 3, 2018

Blockchain Makes Used Car Salesmen The Most Trusted People On The Planet

Ex-rental cars are at the top of every buyer’s wish list. Car accident histories can’t be faked. No, it’s not an alternate universe. It’s our infinitely safer, trustful future with blockchain, IoT and machine learning, and I test drove it during the recent SAPPHIRE NOW and ASUG Annual Conference.
Click to expand...

https://www.forbes.com/sites/sap/20...alesmen-the-most-trusted-people-on-the-planet

hawki · Jul 3, 2018

"The Sacramento Kings basketball team have teamed with cryptocurrency group MiningStore to install [Ethereum] mining machines in Golden 1 Center, which the team says houses the world's most advanced technology infrastructure. The mining will fund a multiyear scholarship program called MiningForGood, according to an announcement by the team Wednesday."

https://www.sacbee.com/sports/nba/sacramento-kings/article214029504.html

itman · Jul 3, 2018

Obfuscated Coinhive shortlink reveals larger mining operation

During the past several months, in-browser mining has continued to affect a large number of websites, predominantly relying on Coinhive’s infamous API. We documented several campaigns on this blog, in particular Drupalgeddon, where attackers are taking advantage of vulnerabilities in popular Content Management Systems (CMS) to compromise websites and push payloads both client- and server-side.

In the past weeks, our crawlers have catalogued several hundred sites using a variety of CMS all injected with the same obfuscated code that uses Coinhive’s shortlink to perform silent driveby mining: https://www.malwarebytes.com/pdf/white-papers/Drive-By-Cryptocurrency-Mining_Malwarebytes-Labs-Report.pdf
Click to expand...

https://blog.malwarebytes.com/threa...ve-shortlink-reveals-larger-mining-operation/

Minimalist · Jul 3, 2018

How A Leading Cyber Security Company Uses Blockchain Technology To Prevent Data Tampering

While cryptocurrencies remain vulnerable to a number of cyber security attacks, the underlying blockchain technology is being used to protect user data from being modified.

"We believe that blockchain technology will be transformative in the tech and IT sector in the coming years, similar to what the internet did for the world back in the 90s and early 2000s, said John Zanni, President of the Acronis Foundation. We started a few years ago working with the Ethereum blockchain to see how to better protect data. Today, part of our storage and backup software lets users notarize any digital data and put that fingerprint on the blockchain to ensure it can’t be tampered with."
Click to expand...

https://www.forbes.com/sites/rachel...ockchain-technology-to-prevent-data-tampering

ronjor · Jul 3, 2018

Cryptocurrency Theft Drives 3x Increase in Money Laundering

Kelly Sheridan 7/3/2018
The first half of 2018 saw more cryptocurrency theft than all of 2017 combined, driving a rise in digital money laundering as criminals elude authorities.
Click to expand...

ronjor · Jul 3, 2018

Ex-Microsoft COO Kevin Turner emerges at helm of secretive blockchain startup co-founded by former Myspace CTO

by Taylor Soper on July 3, 2018
Former Microsoft COO Kevin Turner has taken the helm of Core Scientific, a stealthy new blockchain and artificial intelligence startup led by veteran tech executives, GeekWire has learned
Click to expand...

.

guest · Jul 3, 2018

IRS launches international initiative to hunt down cryptocurrency tax fraudsters
The initiative 'J5' is a joint effort between five countries
July 3, 2018
https://thenextweb.com/hardfork/2018/07/03/irs-cryptocurrency-tax-fraud/

The US Internal Revenue Service (IRS) has allied with tax authorities from Australia, Canada, the Netherlands, and the UK to fight tax crime and money laundering with cryptocurrency and other financial assets, the government agency announced on its website on Monday.

The agencies will share information and intelligence, conduct joint investigations, and attempt to improve operational capability to grow international crime enforcement efforts.
IRS stated that the J5 will make the most of data and technology to “reduce the growing threat posed to tax administrations by cryptocurrencies and cyber crime.”

It is worth noting that authorities all across the globe have increased their efforts in fighting cryptocurrency related crimes.
Click to expand...

guest · Jul 4, 2018

Binance resets API keys en masse amidst fear of Syscoin blockchain glitch [Updated]
A single Syscoin worth a few cents traded for $623,000 on a cryptocurrency exchange desk
July 4, 2018
https://thenextweb.com/hardfork/2018/07/03/syscoin-binance-cryptocurrency/

It appears that Syscoin (SYS) cryptocurrency’s blockchain has been compromised. (Update [July 4, 8 AM UTC]: Syscoin has since released a statement claiming the complications did not originate from its network. Read the updates at the bottom for more details.)

Syscoin’s blockchain explorer shows that more than one billion of its coins were transacted in a single block (Updated: The piece earlier wrongly used the word ‘mined’). This is peculiar because the cryptocurrency’s total possible supply is 888 million — significantly less than the amount in the block number 87670.

Syscoin confirmed on Twitter that it’s investigating a possible issue with its blockchain, and stated that it has asked all cryptocurrency exchanges to halt its trading for the time being. The company hasn’t been able to determine the cause of the vulnerability yet.
Click to expand...

Minimalist · Jul 4, 2018

Every World Cup footballer should issue a cryptocurrency coin

James Rodriguez has launched his coin. Just days before the World Cup’s kick-off, the crocked Colombian midfielder announced the creation of JR10, his personal cryptocurrency, which proud holders can parlay into “football-related souvenirs, fan club meetings and other perks related to the athlete”. According to SelfSell, a Chinese company that took care of the technicalities, the advance online auction of a small batch of crypto-tokens raked in $500,000 — in 12 seconds.
Click to expand...

http://www.wired.co.uk/article/world-cup-cryptocurrencies-coin-tokens-football

guest · Jul 4, 2018

ronjor said: ↑

Desperate Coinbase customers turn to SEC with allegations of fraud
Click to expand...

Coinbase says its problem days are over. Better Business Bureau disagrees.
July 3, 2018
https://mashable.com/2018/07/03/coi...bureau-complaints/?europe=true&utm_cid=hp-r-1

They've changed. They promise.
But over the course of 2018 its customers have deluged the Better Business Bureau with complaints. Maybe they missed the memo?

When it comes to Coinbase, the Bureau has received quite a few of those complaints — enough to give them an "F" rating based on "the total number of positive, neutral, and negative reviews posted."
Coinbase wouldn't make the same mistake twice, she assured us. And yet.

Of the 1,155 Coinbase customer complaints available on the BBB site, there are a substantial amount from this year.
How about a few more, all from May of this year, for good measure: [...]
Click to expand...

guest · Jul 4, 2018

India’s cryptocurrency ban has already taken its first toll
The country's largest cryptocurrency exchange, Zebpay, stop fiat deposits and withdrawals
July 4, 2018
https://thenextweb.com/hardfork/2018/07/04/zebpay-india-cryptocurrency-2/

It seems that Indian Supreme Court’s decision to uphold the central bank’s directive against cryptocurrency businesses is taking its toll already.

Zebpay is disabling the deposit and withdrawal options for Indian Rupee from its platform, the company announced today.
Zebpay seems to have been preparing for their survival against this ban for a while.

Zebpay is the only Indian cryptocurrency exchange listed on CoinMarketCap boasting a trading volume of $5 million over the past 24 hours. But with fiat trading discontinued, its trading volumes will very likely hit the skids.
Click to expand...

Minimalist · Jul 6, 2018

Why India and China won't lift their crypto bans

Why an accelerating US trade deficit, chaos in emerging market currencies and the race to dethrone the US dollar as global reserve currency with the world’s first ‘digital reserve’ means China and India will likely never legalize cryptocurrencies.
Click to expand...

https://bravenewcoin.com/news/why-india-and-china-wont-lift-their-crypto-bans/

guest · Jul 6, 2018

The future of Ethereum looks bright
July 6, 2018
https://techcrunch.com/2018/07/06/the-future-of-ethereum-looks-bright/

In what amounted to one of the most far-reaching and interesting conversations at TC Sessions in Zug, Ethereum masterminds Vitalik Buterin, Justin Drake, and Karl Floersch spoke openly – and often candidly – about a bright future for Ethereum scaling and, more interestingly, their way to build teams that work.

“The demand for using public blockchains is high and we need to up the stability in order the meet that demand,” he said.

The team expects aspects of Ethereum 2.0 – namely the Casper upgrade and the addition of sharding – to begin rolling out in 2019. After that, said Floersch, Ethereum 3.0 would enable quantum secure systems i.e. systems that can withstand the power of quantum computers.

“We’ll push quantum secure updates before there are commercial quantum computers,” he said.
Click to expand...

guest · Jul 7, 2018

ronjor said: ↑

Bitconnect, which has been accused of running a Ponzi scheme, shuts down
Click to expand...

YouTube Added as Defendant in Class Action Lawsuit Against BitConnect
July 6, 2018
https://cointelegraph.com/news/youtube-added-as-defendant-in-class-action-lawsuit-against-bitconnect

According to court documents filed July 3, YouTube has been added as a defendant in a class action lawsuit against BitConnect.

The claimants state that if YouTube had conducted an appropriate search of its databases, it would have delisted the harmful BitConnect videos. Instead, YouTube allegedly accepted a growing number of BitConnect-related videos, which resulted in numerous victims, including many members of the Class.

The document also refers to Google LLC, which changed its financial products policy to ban all cryptocurrency-related ads and associated content due to a potential harm to users of Google-owned platforms, including YouTube. The document concludes:

“YouTube failed as a gatekeeper to protect its users from, and warn its users of, the very harm YouTube set out to prevent with its advertising protocols and proprietary algorithms.”
Click to expand...

Minimalist · Jul 7, 2018

Ethereum’s Vitalik Buterin Blasts Centralized Crypto Exchanges: ‘I Hope They Burn in Hell’

Co-founder of Ethereum (ETH) Vitalik Buterin criticized centralized exchanges, saying that he hopes they will “burn in hell,” in an interview with a TechCrunch journalist Jon Evans, July 6.

Buterin has reiterated his positive stance on decentralization, claiming that by developing “better” decentralized platforms, the crypto community should be able to take away the “stupid King making power” from centralized crypto exchanges.
Click to expand...

https://cointelegraph.com/news/ethe...zed-crypto-exchanges-i-hope-they-burn-in-hell

guest · Jul 7, 2018

South Korea To Loosen Crypto Regulations
July 7, 2018
https://ethereumworldnews.com/south-korea-loosen-crypto-regulations/

The information was shared by the Korea Times, mentioning that financial regulators are seeking to establish a set of “unified regulations” compatible with the policies promoted by G20 member countries.

According to the Korean newspaper, The Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) are working together to ensure the best enforcement of legal policies regarding cryptocurrency exchange operators.
It is important to note that the government has been emphasizing that it is not opposed to the use of cryptocurrencies; however, money laundering is a crime for which they have demonstrated a zero-tolerance policy.

In a similar vein, the Korean government hopes to regulate the ICOs so that they have a legal status. Rep. Hong Eui-rak of the ruling Democratic Party said lawmakers are “working on a bill” to lift the ban that the government had previously ordered.
Click to expand...

guest · Jul 9, 2018

Incent cryptocurrency loyalty program launches in Australia
More than 300 retailers in Australia have signed on to the loyalty program that 'rewards' customers with cryptocurrency.
July 9, 2018
https://www.zdnet.com/article/incent-cryptocurrency-loyalty-program-launches-in-australia/

Sydney-based startup Incent Loyalty has launched its loyalty program in Australia, rewarding members with its INCNT digital coin for online purchases.

The blockchain-based loyalty program already claims over 300 retailers on board, including Catch.com.au, Contiki, Dymocks, Europcar, Sephora, and even software provider ESET and tech giant Samsung.

INCNT will later this year be awarded for in-store purchases, where customers will be required to link their bank card to the cryptocurrency account to have rewards then credited. Members will also soon be able receive digital coin for watching videos and reading articles.
Click to expand...

Minimalist · Jul 9, 2018

In cryptoland, trust can be costly

While the legal status of cryptocurrencies and laws to regulate them continue to be hammered out, scammers are busy exploiting the digital gold rush. Besides hacking cryptocurrency exchanges, exploiting smart-contract vulnerabilities, and deploying malicious miners, cybercriminals are also resorting to more traditional social-engineering methods that can reap millions of dollars. Their targets are not just the owners of cryptocurrency wallets, but basically anyone with an interest in the subject.
Click to expand...

https://securelist.com/in-cryptoland-trust-can-be-costly

guest · Jul 9, 2018

China brags its cryptocurrency ban has practically killed local Bitcoin trading
Blockchains are totally okay, though
July 9, 2018
https://thenextweb.com/hardfork/2018/07/09/china-crackdown-bitcoin/

China’s central bank has hailed it’s cryptocurrency crackdown a complete success. Declared by the People’s Bank of China (PBoC) and reported by state media, data apparently shows that the Chinese currency is now involved in less than one percent of all Bitcoin trades worldwide.

Now, in 2018, all of the world’s major players in crypto-mining are no longer in China – all forced to seek new homes across Europe and the Americas.

A wise move, considering in April, police stormed a large-scale Bitcoin mining operation in the city of Tianjin. 600 computers were confiscated in the raid – case doubling as “the largest power theft case in recent years,” reports Xinhua.
Click to expand...

guest · Jul 10, 2018

Hacker Steals $13.5 Million From Bancor Cryptocurrency Exchange
July 10, 2018
https://www.bleepingcomputer.com/ne...-million-from-bancor-cryptocurrency-exchange/

In a statement published hours ago, Israeli-based cryptocurrency exchange Bancor fessed up to a security incident following which a hacker made off with roughly $13.5 million worth of cryptocurrency.

This was a big deal because Bancor doesn't run as a classic exchange platform, but uses a complex mechanism based on smart contracts running on the Ethereum platform to move funds at a quicker pace than classic exchange platforms.

Bancor says the hacker used this access to withdraw 24,984 Ether (ETH) coins (~$12.5 million) from Bancor smart contracts and sent the Ether to his own private wallet.
Security feature prevents theft of another $10 million
The hacker also withdrew 3,200,000 Bancor tokens (BNT) (worth around $10 million), which Bancor had issued last year as part of its ICO that raised over $150 million, but Bancor says a security feature in Bancor tokens allowed it to freeze the funds and prevent the hacker from cashing it out at other exchanges.
Click to expand...

Log in or Sign up

Online Cash Bitcoin Could Challenge Governments, Banks

guest Guest

Minimalist Registered Member

ronjor Global Moderator

guest Guest

guest Guest

Minimalist Registered Member

hawki Registered Member

itman Registered Member

Minimalist Registered Member

ronjor Global Moderator

ronjor Global Moderator

guest Guest

guest Guest

Minimalist Registered Member

guest Guest

guest Guest

Minimalist Registered Member

guest Guest

guest Guest

Minimalist Registered Member

guest Guest

guest Guest

Minimalist Registered Member

guest Guest

guest Guest

Log in or Sign up

Online Cash Bitcoin Could Challenge Governments, Banks

guest Guest

Minimalist Registered Member

ronjor Global Moderator

guest Guest

guest Guest

Minimalist Registered Member

hawki Registered Member

itman Registered Member

Minimalist Registered Member

ronjor Global Moderator

ronjor Global Moderator

guest Guest

guest Guest

Minimalist Registered Member

guest Guest

guest Guest

Minimalist Registered Member

guest Guest

guest Guest

Minimalist Registered Member

guest Guest

guest Guest

Minimalist Registered Member

guest Guest

guest Guest

Useful Searches