Online Cash Bitcoin Could Challenge Governments, Banks

ronjor · Apr 1, 2019

US SEC is hiring a cryptocurrency specialist to help with regulations

by Matthew Beedham 01 Apr 2019
If its latest job posting is anything to go by, the US Securities and Exchange Commission‘s (SEC) could be stepping up its involvement in the cryptocurrency world.
Click to expand...

ronjor · Apr 2, 2019

Bitcoin’s price just surged, and no one knows why

By Cale Guthrie Weissman 04.02.19
On Tuesday morning, the price of bitcoin shot up over 17%–bringing it to a four-month high. It has since gone down a bit, but remains at around $4,700 compared to $4,100 a day earlier. At its peak today, it hit $4,961.78, according to CoinDesk (Reuters, however, claims that the price briefly hit $5,000). Other coins–including ether, XRP, and litecoin–also saw a price boost as a result of bitcoin’s sudden burst.
Click to expand...

guest · Apr 2, 2019

Swiss Media Giant Opts to Pay Salaries in Bitcoin, Boosting Crypto Adoption
April 2, 2019
https://ethereumworldnews.com/swiss...salaries-in-bitcoin-boosting-crypto-adoption/

On April 1, a major Swiss publisher Netzmedien AG made a public statement saying it plans to start paying all its employees in Bitcoin, leaving fiat behind. Previously, the company announced an intention to turn 50 percent of its assets to crypto.

As the time of converting fiat to crypto drew nearer, the top management team offered all employees a choice – to continue earning fiat CHF (Swiss Franc) or switch to Bitcoin. Poll results showed that the staff opted for BTC
Following other Swiss big names
The CEO of Netzmedien AG seems to believe in the power of Bitcoin despite the recent major downtrend in the market when its all-time-low totalled around $3,100. When it happened, many critics, including Jamie Dimon, the JP Morgan CEO, were led to believe that this was the end of the ‘Bitcoin bubble’.
Click to expand...

ronjor · Apr 2, 2019

No, a Swiss media ‘giant’ is not paying salaries in Bitcoin

David Canellis Published April 2, 2019
The whole thing has since been “revealed” to be a ruse. The original post now features a statement that confirms it is entirely fake news.
Click to expand...

guest · Apr 3, 2019

A Small Bank in Germany Is Now Nearly 30% Owned by Crypto Companies
April 2, 2019
https://www.coindesk.com/a-small-bank-in-germany-is-now-nearly-30-owned-by-crypto-companies

Almost 30 percent of the equity in WEG Bank AG, a previously obscure German bank focused on the real estate industry, is now owned by companies in the cryptocurrency industry, CoinDesk has learned.

By purchasing 9.9 percent of the bank, blockchain startup Nimiq now joins TokenPay and the Litecoin Foundation as part owners of the Munich-area financial institution. (Under German law, foreign ownership stakes of 10 percent or greater require additional regulatory approval.)
Nimiq co-founder Elion Chin said in a statement:

“With Litecoin and Tokenpay as existing shareholders, new clients including [blockchain application platform] Lisk, and other key prospective partnerships, we believe WEG Bank is on the way to reinventing itself as a bank of the future.”
This cross-industry partnership could eventually offer fiat liquidity to decentralized exchange (DEX) users – if they pass the WEG Bank’s screening process.
Click to expand...

guest · Apr 3, 2019

5-Star Swiss Hotel Set to Accept Bitcoin Payments
April 3, 2019
https://www.coindesk.com/5-star-swiss-hotel-set-to-accept-bitcoin-payments

The Dolder Grand, a five-star hotel based in Switzerland, will begin accepting bitcoin payments starting next month.
The news was announced Tuesday by the hotel’s tech partner, Inacta AG, which said that the payment option would be made available on May 1.

Once the new payment method goes live, guests can pay for accommodation, food and beverages or spa treatments using bitcoin. Inacta AG’s mobile app Inapay will then convert bitcoin payments into Swiss franc or euro “as soon as the payment has been completed,” according to the statement, meaning that the hotel itself won’t handle cryptocurrency.

“Many of the improvements in our service in recent years were made possible by advances in technology. As we believe Bitcoin is here to stay, it only seems natural to offer more choices in the payment process.”
Click to expand...

guest · Apr 3, 2019

ronjor said: ↑

Bitcoin’s price just surged, and no one knows why
Click to expand...

Bitcoin news: Bitcoin price rises 20% due to mysterious mass investor
April 3, 2019
https://www.itpro.co.uk/strategy/28261/bitcoin-news

The massive order from an anonymous buyer totalling around $100 million kickstarted a crazed trading period whereby investors tried to capitalise on the sudden and unexpected upturn of the coin's valuation.

The big order of roughly 20,000 BTC was spread across various exchanges: Coinbase, Kraken and Luxembourg's Bitstamp said Oliver von Landsberg-Sadie, chief executive of cryptocurrency firm BCB Group.
Analysts have been unable to pinpoint with any certainty to any specific reasons why the mysterious buyer chose to buy so much of the crypto at this time specifically.
Click to expand...

ronjor · Apr 4, 2019

Canada confiscates $1.4M in Bitcoin from dark web drug dealer

Yessi Bello Perez Published April 4, 2019
According to The Toronto Star, Phan pleaded guilty to attempting to import a gun and possessing several illegal substances including cocaine, ketamine, and PCP in December last year.
Click to expand...

guest · Apr 4, 2019

Research: Bitcoin Can Beat Visa, MasterCard to Top World Payment System in 10 Years
April 4, 2019
https://cointelegraph.com/news/rese...rcard-to-top-world-payment-system-in-10-years

Bitcoin (BTC) should usurp current global payment systems within the decade, a new report from software startup DataLight concluded on April 2.

In a report on transactions on the Bitcoin network versus those with Visa, MasterCard and PayPal, the company made the prediction that if Bitcoin’s current rate of network growth continues, it will beat out competition from market incumbents.
“In just 10 years, Bitcoin has managed to compete with the leaders of the payment system industry. Bitcoin’s development is occurring exponentially,” the report’s conclusion reads. It continues:

“If it maintains this pace, in another 10 years, it will surpass all competition.”
Click to expand...

ronjor · Apr 4, 2019

Belgian watchdog adds 7 new scams to its cryptocurrency blacklist

Yessi Bello Perez Published April 4, 2019
This brings the total to 120!
Click to expand...

ronjor · Apr 4, 2019

Bitcoin trading volume hits two-year low in March: report

Gertrude Chavez-Dreyfuss April 4, 2019
NEW YORK (Reuters) - Bitcoin’s trading volume dropped to a two-year low in March, digital currency trading tool provider TradeBlock said in a report on Thursday, as investors remained spooked by increased regulatory scrutiny.
Click to expand...

guest · Apr 4, 2019

You’ll need a bank account to use UnionBank’s new Bitcoin ATM
April 4, 2019
https://thenextweb.com/hardfork/2019/04/04/need-bank-account-unionbank-bitcoin-atm/

UnionBank (UBP), the seventh largest bank in the Philippines officially got itself into the cryptocurrency game this week, but there’s a catch. Users will be required to use a UBP bank account to exchange funds to and from virtual currency.
It will only serve Bitcoin BTC at the moment, though. UnionBank has not confirmed if it will offer other cryptocurrencies in the future.

“The reason we’re doing this is because our customers are asking for it,” UnionBank Chairman Justo A. Ortiz said in a statement, reports BusinessWorld.
Customers will also need a UBP bank account and will have to provide a government issued ID [...]

The BATM will allow UnionBank customers to buy and sell Bitcoin, and then withdraw cash immediately from the machine.
Click to expand...

guest · Apr 5, 2019

Hong Kong: Illicit Crypto Mining Operations Are Punishable by Fine or Imprisonment
April 4, 2019
https://cointelegraph.com/news/hong...ations-are-punishable-by-fine-or-imprisonment

The secretary of Hong Kong’s Financial Services and the Treasury has stated that crypto mining operations are regulated by local trading law. His written response to Hong Kong’s Legislative Council was published on Wednesday, April 3.

Secretary James Lau has responded that the sale of mining equipment and any other products related to virtual assets falls under the TDO. The unfair practices he mentions in this regard include false trade descriptions, misleading omissions, aggressive commercial practices and wrongly accepting payment, among others.

According to Lau, illicit mining activity can thus be subject to a $500,000 fine or five years in prison.
Click to expand...

guest · Apr 6, 2019

Google Searches for ‘Bitcoin’ Hit Highest Total Since November
April 5, 2019
https://www.coindesk.com/google-searches-for-bitcoin-hit-highest-total-since-november

Trading back above $5,000, more eyes are on the world’s largest cryptocurrency, bitcoin, than have been in nearly 19 weeks, a fact affirmed as worldwide Google searches for “bitcoin” currently hover at levels not seen since Nov. 20.

Google Trend data reveals the spike in searches was single-handedly achieved on April 2 when the price of the cryptocurrency surged nearly 20 percent in a single hour to clock $4,961, its highest price since Nov. 19, according to CoinDesk’s price data.
While Google Trends does not provide the exact number of searches, it is apparent the amount of worldwide “bitcoin” searches reached 90 percent of what it was on Nov. 20, as is shown below.

The significance of a spike in bitcoin searches may seem trivial at face value, but studies have shown there is a connection between the price of the cryptocurrency and its search interest. The core findings suggest periods of low search volume tend to precede large markups in price that coincide with bitcoin’s famous, or perhaps infamously wild market cycles.
Click to expand...

guest · Apr 7, 2019

Here's Why Hardware Wallets Aren't Enough to Secure Your Crypto
April 7, 2019
https://www.cryptoglobe.com/latest/...-wallets-aren-t-enough-to-secure-your-crypto/

Cryptocurrencies have allowed people throughout the world to be their own bank, and own their own money, but they come with a major caveat: your funds are your responsibility, so you have to ensure they’re secure.
How Hardware Wallets Can Fail Us
Fires, floods, and earthquakes, for example, can completely destroy a hardware cryptocurrency wallet, potentially leading to a loss of funds.

In an interesting article, Wired editor Mark Frauenfelder detailed that he lost $30,000 worth of BTC over flaws in these two systems: his paper copy of the seed phrase was thrown out, and he forgot his pin code. Lucky for him, a months-long crusade to recover the funds saw him pay a security expert nearly $4,000 to help him crack his hardware wallet – through a now-fixed vulnerability.
Metal Seed Storage Devices Are The Solution
For the average HODLer to keep his or her funds safe there’s an easy-to-use solution: metal seed storage devices. These are essentially an upgraded version of paper wallets, made out of material that doesn’t deteriorate easily, and can survive natural disasters like fires or floods.
Click to expand...

guest · Apr 8, 2019

G20 to introduce crypto guidelines in June
April 8, 2019
https://coingeek.com/g20-to-introduce-crypto-guidelines-in-june/

The G20 is moving rapidly toward the introduction of guidelines for cryptocurrencies. While nothing implemented yet is meant to be all-inclusive, it has been making strides toward helping shape the industry, including adherence to rules established by the Financial Action Task Force (FATF). Now, the member countries of the G20 are preparing to meet once again in order to push out more regulations for digital assets.

Kyodo also indicates that the countries won’t just be discussing their options at the meeting. They will, reportedly, be coming up with decisions on new regulations and how to implement them. The forum will be used to address anti-anonymity and how to create stricter identification guidelines that will enable better transparency in the crypto space.
Click to expand...

guest · Apr 8, 2019

Bitcoin wallet Electrum hit by DoS attack from 140,000-strong botnet
A sophisticated DoS campaign is forcing Electrum servers offline
April 8, 2019
https://thenextweb.com/hardfork/2019/04/08/bitcoin-wallet-electrum-dos-attack-botnet-phishing/

The servers of popular Bitcoin BTC wallet Electrum are under heavy attack, and users are advised to be extra careful when using the platform until it’s resolved.
A sophisticated botnet of more than 140,000 machines has launched Denial-of-Service (DoS) attacks on Electrum‘s servers, with apparent intent to direct users to compromised versions of the software designed to steal their Bitcoin.

Bad actors have even deployed their own Electrum servers hosting “backdoored” versions of the Electrum client en masse. If a user successfully syncs their vulnerable Electrum wallet with a malicious server (hundreds detected so far), they’re instructed to “update” their client with a hacked version.
Electrum users are warned they could face service interruptions as administrators continue work to mitigate the damage caused by the intense incoming traffic.
Click to expand...

guest · Apr 9, 2019

Regulators in China are weighing a ban on Bitcoin mining
April 9, 2019
https://techcrunch.com/2019/04/09/china-considers-ban-crypto-mining/

Cryptocurrency mining has become the latest target for the Chinese government seeking to phase out industries considered a drag on the country’s economy.

Crypto mining, the process of creating Bitcoin and other digital currencies through the use of computing power, was namechecked alongside a swarm of other sectors the agency wanted to “eliminate” because they “lacked safe production conditions, seriously wasted resources, polluted the environment,” among other issues.

The ban, if carried out, would deal a massive blow to a series of Chinese companies that rode the crypto wave by providing mining and production tools to the industry. In particular, Bitmain — which recently lets its application for a proposed Hong Kong IPO lapse — would be significantly impacted by a ban.
Meanwhile, environmentalists have protested wasteful energy consumption that bitcoin mining incurs. China was reportedly planning to restrict power supply for some bitcoin miners early last year, according to sources cited by Bloomberg.
Click to expand...

ronjor · Apr 9, 2019

Mt. Gox might need 2 more years to repay millions worth of lost Bitcoin

Matthew Beedham Published April 9, 2019
It could be years before the case is fully settled
Click to expand...

guest · Apr 10, 2019

ronjor said: ↑

U.S. calls 'OneCoin' huge pyramid scheme, charges leaders
Click to expand...

Police bust 2 goons linked to $3B OneCoin cryptocurrency pyramid scheme
April 10, 2019
https://thenextweb.com/hardfork/2019/04/10/arrests-cryptocurrency-scam-onecoin/

Two men were charged in Singapore today for promoting a cryptocurrency-based multi-level marketing scheme. Local police believe this is the first case of its kind in the country.
The perpetrators in question had been promoting the notorious multi-billion dollar pyramid scheme OneCoin, Channel News Asia reports.

According to local police, OneCoin’s promotional structure contravened the Multi-Level Marketing and Pyramid Selling (Prohibition) Act. Each of the perpetrators could face up to five years in prison and a maximum fine of S$200,000 ($147,000).
Click to expand...

guest · Apr 10, 2019

mood said: ↑

“Facebook of Russia” Vkontakte To Issue its own Crypto
March 30, 2019
https://ethereumworldnews.com/facebook-of-russia-vkontakte-to-issue-its-own-crypto/
Click to expand...

VkCoin, The Token Created by Facebook Competitor VKontakte is Already Being Mined by 4 Million Users in Only 4 Days
April 10, 2019
https://ethereumworldnews.com/vkcoi...eing-mined-by-4-million-users-in-only-4-days/

According to an announcement published on its official website (https://vk.com/pay)t Vkontakte developed its own cryptocurrency called VK Coin. It serves (for now) to cash its value for certain discounts or cash advances:

VK explains that the cryptocurrency is only four days old, but its success has been amazing. More than 4 million new miners at huge growth rates
They also revealed that the first VKCoin whale had amassed 890 million coins. The user has chosen to remain anonymous.
This May Seem Easy… But VK Still Has a Long Way to Go
Apparently, tokens are initially only redeemable within the Vkontakte ecosystem. There is no information about their availability for trading on any Exchange.
Click to expand...

ronjor · Apr 10, 2019

Bittrex virtual currency license rejected by NY financial regulator

Gertrude Chavez-Dreyfuss April 10, 2019
In a statement, DFS said it denied Bittrex’s application due to deficiencies in the exchange’s capital, as well as anti-money laundering, requirements. It cited its “failure to demonstrate that it will conduct its business honestly, fairly, equitably, carefully, and efficiently.”
Click to expand...

ronjor · Apr 10, 2019

Coinbase launches debit card in the UK

Romain Dillet@romaindillet 10 Apr 2019
When you buy cryptocurrencies on Coinbase, many users simply don’t know what to do with them. Customers in the U.K. can now get a good old plastic card and spend cryptocurrencies in-store and on any online website.
This is a Visa card so it should work with any merchant on the Visa network. The company is launching a separate mobile app called Coinbase Card to manage your cryptocurrency balances. For instance, you’ll be able to choose whether you want to use your Bitcoin, Ethereum or Litecoin balance with your card.
Click to expand...

guest · Apr 11, 2019

Bithumb Announces External Audit Results in Wake of $13 Million Hack
April 11, 2019
https://cointelegraph.com/news/bithumb-announces-external-audit-results-in-wake-of-13-million-hack

South Korean cryptocurrency exchange Bithumb has conducted a professional external audit of its funds after a major hack last month, the company confirmed in a statement on April 11.

Bithumb, South Korea’s largest exchange, lost around 14 billion won ($13 million) two weeks ago in an event executives believe was masterminded by an insider.
Now, Bithumb has used a third party to assess its reserves, repeating its previous assurances that customer funds remained safe in cold storage wallets.

“We have stated that we will conduct fair and objective due diligence on all assets that we have through a reliable external Audit,” the statement reads, linking to the accounting firm’s statistics. The statement continues:

“We are pleased to inform you that our members' valuable assets are managed and maintained in a systematic / safe manner through the attached due diligence report.”
[/quote9
Click to expand...

guest · Apr 15, 2019

mood said: ↑

Regulators in China are weighing a ban on Bitcoin mining
April 9, 2019
https://techcrunch.com/2019/04/09/china-considers-ban-crypto-mining/
Click to expand...

Long read
In China, bitcoin mining moguls are scrambling to survive
Cryptocurrency miners have been making millions in digital currency from China's excess energy. Now, a government crackdown could end the gold rush
April 15, 2019
https://www.wired.co.uk/article/bitcoin-mining-china-ban-crypto-cryptocurrency-wechat

China has 70 per cent of the world’s crypto-mining capacity, and over 70 per cent of that capacity is nestled in the mountains of Sichuan, where abundant hydroelectric power makes the price per kilowatt some of the cheapest anywhere in the world.

But the very existence of this crypto gold rush is under threat. Mining bosses in China are making their millions in a legal grey area – and a new directive issued last week by the The National Development and Reform Commission (NDRC) hints that cryptocurrency mining may soon be outlawed altogether.
Click to expand...

Log in or Sign up

Online Cash Bitcoin Could Challenge Governments, Banks

ronjor Global Moderator

ronjor Global Moderator

guest Guest

ronjor Global Moderator

guest Guest

guest Guest

guest Guest

ronjor Global Moderator

guest Guest

ronjor Global Moderator

ronjor Global Moderator

guest Guest

guest Guest

guest Guest

guest Guest

guest Guest

guest Guest

guest Guest

ronjor Global Moderator

guest Guest

guest Guest

ronjor Global Moderator

ronjor Global Moderator

guest Guest

guest Guest

Log in or Sign up

Online Cash Bitcoin Could Challenge Governments, Banks

ronjor Global Moderator

ronjor Global Moderator

guest Guest

ronjor Global Moderator

guest Guest

guest Guest

guest Guest

ronjor Global Moderator

guest Guest

ronjor Global Moderator

ronjor Global Moderator

guest Guest

guest Guest

guest Guest

guest Guest

guest Guest

guest Guest

guest Guest

ronjor Global Moderator

guest Guest

guest Guest

ronjor Global Moderator

ronjor Global Moderator

guest Guest

guest Guest

Useful Searches