Online Cash Bitcoin Could Challenge Governments, Banks

guest · Sep 16, 2019

mood said: ↑

A tiny Pacific island nation is about to issue its own cryptocurrency
September 5, 2019
https://www.technologyreview.com/f/...ion-is-about-to-issue-its-own-cryptocurrency/
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Tiny Pacific nation forges ahead with national cryptocurrency
September 16, 2019
https://nakedsecurity.sophos.com/20...on-forges-ahead-with-national-cryptocurrency/

On Wednesday, the digital currency project announced at Coindesk’s Invest: Asia cryptocurrency conference in Singapore that the plan is to do a token pre-sale: it will introduce the SOV through a sale over an extended period of time in what’s being called a Timed Release Monetary Issuance (TRMI).
Once the currency is officially launched – within an estimated 18 to 24 months – the units sold during the pre-sale can be exchanged for SOVs.

As Bloomberg tells it, the US Treasury was not pleased, and its leaders didn’t mince words.

“I don’t like it. I will never support it,” Treasury Assistant Secretary for Terrorist Financing Marshall Billingslea reportedly said when he kicked off a meeting with Marshallese representatives who’d traveled to Washington for the 2018 annual meeting of the International Monetary Fund and the World Bank.
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guest · Sep 16, 2019

BTC the currency of choice for cybercriminals
September 16, 2019
https://coingeek.com/btc-the-currency-of-choice-for-cybercriminals/

If you’ve ever been a victim of identity theft, there’s a very good chance that someone was paid in Segwitcoin (BTC) for your data. This somewhat unsurprising news comes from the 2019 Black Market Report, published by Armor, which indicates that 46% of all BTC transactions are payments for cybercrime services.

“While a number of cryptocurrencies have been introduced with enhanced anonymity features such as Monero, Dash, and ZCash, Bitcoin remains the most trusted and most valuable choice in dark markets,” they write.
If exchanges must increasingly meet the same regulatory demands as traditional financial institutions, there’s a solid chance BTC volume will drop off as hackers could no longer rely on it. That could be yet another problem in BTC’s near future.
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guest · Sep 17, 2019

Former pro ice hockey player detained for $700,000 Bitcoin fraud
September 17, 2019
https://thenextweb.com/hardfork/201...player-detained-bitcoin-cryptocurrency-fraud/

It’s a slippery slope dealing with Bitcoin BTC and cryptocurrency.

Igor Musatov, former professional ice hockey player from Russia, has been detained in Moscow for swindling 45 million Rubles ($700,000) from the CEO of an IT company, Crime Russia reports.
The alleged crime was first reported last year by the IT professional, but after months of trying to rectify things directly with Musatov, he turned to the police.
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Minimalist · Sep 17, 2019

Bitcoin Not Accepted: Burger King's Crypto Foray Short-Lived

The German branch of Burger King has begun accepting Bitcoin (BTC) on its website and mobile app, as reported by Cointelegraph on Sept. 3. But has the initiative increased consumer demand for the company’s fast food, and is it really possible to buy the popular Whopper burger with Bitcoin? What difficulties has the restaurant faced in its three years of cryptocurrency experience?
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https://cointelegraph.com/news/bitcoin-not-accepted-burger-kings-crypto-foray-short-lived

ronjor · Sep 17, 2019

Wells Fargo to Pilot Dollar-Linked Stablecoin for Internal Settlement

Ian Allison , Daniel Palmer Sep 17, 2019
U.S.-based financial giant Wells Fargo is developing a U.S. dollar-linked stablecoin that will run on the firm’s first blockchain platform.
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ronjor · Sep 19, 2019

Here’s why regulators are so worried about Facebook’s digital currency

Ryan Browne@Ryan_Browne_ 19 sep 2019
Key Points
Global regulators and lawmakers have scrutinized Facebook over its planned libra coin.
A key worry for some is whether libra competes with sovereign currencies like the dollar.
Facebook’s argument is that it won’t be minting new money with its digital currency.
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ronjor · Sep 19, 2019

Ethereum ‘ICO architect’ arrested over alleged $12M cryptocurrency extortion

Story by Matthew Beedham 19 sep 2019
Two individuals in the US, including a former advisor to various blockchain projects including Ethereum, ETH have been arrested for their alleged role in a series of multi-million dollar cryptocurrency extortion.
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Minimalist · Sep 20, 2019

Brazilian Crypto Exchange Snubs Court Deadline to Fix Withdrawals

Brazilian cryptocurrency exchange and alleged pyramid scheme Atlas Quantum rejected court deadlines to resolve its delayed Bitcoin (BTC) withdrawals.
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https://cointelegraph.com/news/brazilian-crypto-exchange-snubs-court-deadline-to-fix-withdrawals

Minimalist · Sep 20, 2019

Kyrgyzstan Cuts Off Power to 45 Crypto Miners for Overconsumption

Authorities of Kyrgyzstan cut off power to 45 crypto mining firms as they consumed more energy than three local regions combined.

Following the power cut, the head of the National Energy Holding Aitmamat Nazarov stated that the cryptocurrency mining is not defined under Kyrgyzstan law, local news agency AKIpress reported on Sept. 20.
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https://cointelegraph.com/news/kyrgyzstan-cuts-off-power-to-45-crypto-miners-for-overconsumption

Minimalist · Sep 20, 2019

Are Tax Moves to Puerto Rico Worth It for Crypto Holders?

Some in the crypto community have embraced Puerto Rico, which seems to have done a good job of promoting itself. But is it for you? I can only address the tax issues, not anything else.
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https://cointelegraph.com/news/are-tax-moves-to-puerto-rico-worth-it-for-crypto-holders

Minimalist · Sep 21, 2019

Portugal Could Be a Tax Haven — Not Only for Crypto Traders

The Portugal Tax Authority (PTA) announced last month that cryptocurrency trading and payments in crypto would not be subject to value-added tax (VAT).
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https://cointelegraph.com/news/portugal-could-be-a-tax-haven-not-only-for-crypto-traders

guest · Sep 21, 2019

Ripple Files A Motion To Dismiss Class-action Lawsuit But Evades The Question On XRP’s Security Status
September 20, 2019
https://zycrypto.com/ripple-files-a...-evades-the-question-on-xrps-security-status/

Ripple Inc. has filed a motion asking the Court to toss the lawsuit filed against the company by a group of XRP investors. These vexed investors filed a lawsuit against Ripple claiming that it violated state and federal securities laws by selling its native token, XRP.
In the 37-page motion, Ripple clearly avoids addressing the elephant in the room: is XRP a security or not? The San Francisco based company instead claims the case should be dismissed because the plaintiff filed the lawsuit late.
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guest · Sep 21, 2019

South Korea’s Upbit Becomes Latest Exchange to Delist Privacy Coins
September 20, 2019
https://www.coindesk.com/south-kore...t-exchange-to-delist-privacy-cryptocurrencies

Another cryptocurrency exchange has delisted a slew of privacy coins following recent regulatory requirements from the international body the Financial Action Task Force (FATF).

According to a notice from Korea exchange Upbit, transaction support for monero (XMR), dash (DASH), zcash (ZEC), haven (XHV), bittube (TUBE), and PIVX (PIVX) will end Monday, Sept. 30.
Upbit announced its investigation of the 6 coins at the beginning of September. The exchange was determining if the privacy coins met the requirements listed by the FATF guidance issued last June.
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Minimalist · Sep 21, 2019

Real-Time Strategy Game for Mining ‘Crypto Gold’ Launches on WAX

The online real-time economic strategy game, Prospectors, will be launching on the Worldwide Asset eXchange (WAX).
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https://cointelegraph.com/news/real-time-strategy-game-for-mining-crypto-gold-launches-on-wax

guest · Sep 21, 2019

North Korea to launch its own crypto similar to Bitcoin
September 19, 2019
https://www.fxstreet.com/cryptocurr...ts-own-crypto-similar-to-bitcoin-201909192154

As per Vice News, North Korea is launching its cryptocurrency, which is in its early stages of development. The cryptocurrency is similar to Bitcoin and is designed to help the Democratic People's Republic of Korea (DPRK) evade international sanctions and find a way around “the U.S.-dominated global financial system.”

Alejandro Cao de Benos, the official in charge of North Korea’s crypto conferences, said that the digital currency will be “more like Bitcoin or other cryptocurrencies.” Cao de Benos, who is also a special delegate for the Committee for Cultural Relations for the DPRK, said:

“We are still in the very early stages in the creation of the token. Now we are in the phase of studying the goods that will give [...]
The North Korean Embassy to the United Nations in New York neither denied nor confirmed the claim. An embassy spokesperson apparently said, “I am not in a position to give you an answer.”
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Vice News: North Korea Is Building Its Own Bitcoin

Minimalist · Sep 21, 2019

Armenian IT Company Accused of Illegal Electricity Use to Mine Crypto

An IT company in Armenia has been accused of illegally accessing electricity and using it to mine cryptocurrencies.
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https://cointelegraph.com/news/armenian-it-company-accused-of-illegal-electricity-use-to-mine-crypto

guest · Sep 22, 2019

Number of Bitcoin ATMs Up 500% Since 2016
September 22, 2019
https://www.cryptoglobe.com/latest/2019/09/number-of-bitcoin-atms-up-500-percent-since-2016/

Physical cryptocurrency kiosks are on the rise, with the rate of bitcoin ATM installations up 500% since 2016.
Bitcoin ATM Growth
According to data compiled by Coin ATM Radar, bitcoin ATM installations have continued to rise steadily over the last three years despite the fluctuating price of cryptocurrencies. The website estimates the total number of bitcoin ATMs at over 5,500 worldwide, which indicates an increased installation of 500% since 2016.

While ATMs tend to be less advantageous than digital exchanges in the fees they charge, which can be as high as 15%, they provide a convenient physical kiosk for transferring BTC to fiat and vice-versa. Some users have also taken advantage of the kiosks while traveling, allowing them to live at least partially supported by crypto.
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Minimalist · Sep 22, 2019

Retailers Around the World That Accept Crypto, From Pizza to Travel

Earlier on, when Bitcoin (BTC) arrived on the scene, most cryptocurrency enthusiasts held on to their coins, as there were only so many places they could be spent. Nowadays, the list of marketplaces and retailers accepting Bitcoin and other cryptocurrencies is significantly larger, providing crypto enthusiasts with more options for making real-world purchases.
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https://cointelegraph.com/news/retailers-around-the-world-that-accept-crypto-from-pizza-to-travel

Minimalist · Sep 22, 2019

Swiss University Fights Fake Diplomas With Blockchain Technology

The University of St. Gallen in Switzerland is setting its sights on blockchain technology to fight fake diplomas, a type of fraud that has been on the rise globally in recent years.
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https://cointelegraph.com/news/swiss-university-fights-fake-diplomas-with-blockchain-technology

Minimalist · Sep 22, 2019

Do Crypto Payment Restrictions Undermine Blockchain’s Core Values?

The power of cryptocurrency payment service providers is under the spotlight after a $100,000 donation to an Amazon rainforest charity was blocked last month. American cryptocurrency payment service provider BitPay reportedly blocked a Bitcoin payment from charity organization Amazon Watch because it had failed the internal processes of the payment platform.
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https://cointelegraph.com/news/do-crypto-payment-restrictions-undermine-blockchains-core-values

Minimalist · Sep 22, 2019

Crypto News From the German-Speaking World: Sept. 16–22 in Review

The German-speaking world saw a number of crypto and blockchain events this week, with the German Federal Government releasing its blockchain strategy and local companies and associations launching new industry initiatives.
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https://cointelegraph.com/news/crypto-news-from-the-german-speaking-world-sept-1622-in-review

Minimalist · Sep 22, 2019

Facebook Buys Chatbot Startup Servicefriend to Integrate Into Calibra

Facebook has acquired the artificial intelligence-based chat-bot startup Servicefriend for customer service for Calibra, the digital wallet for Facebook’s planned Libra cryptocurrency.
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https://cointelegraph.com/news/facebook-buys-chatbot-startup-servicefriend-to-integrate-into-calibra

guest · Sep 22, 2019

Mkoin Offering Kiwis a Secure Cryptocurrency Platform
September 23, 2019
http://www.scoop.co.nz/stories/BU19...ng-kiwis-a-secure-cryptocurrency-platform.htm

Mkoin is a new Kiwi company providing a secure cryptotrading platform to its clients that uses the latest high-tech crypto trading technology developed in the USA.

It enables clients to trade hundreds of cryptocurrencies (BTC, ETH, EOS, USDT, etc) 24/7, at competitive rates and extremely low fees. The platform is designed with zero-tolerance for 3rd party interference through a decentralized system and is extremely secure. This system also allows for transaction/brokerage fee-free transactions.

MKoin's Crypto-trading and Digital Marketing Professionals, Liang Ma & Tim Newman said, "Together we are committed to helping provide Kiwi cryptocurrency investors with a secure and stable trading environment and unique crypto financial services."
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guest · Sep 22, 2019

Bitcoin Lightning Network Specs Pass First ‘Formal’ Security Test
September 22, 2019
https://www.coindesk.com/the-specs-behind-bitcoins-lightning-pass-their-first-formal-security-test

To date, lightning hadn’t been tested mathematically by way of formal security, which is a means of establishing how secure a computer science idea is with the help of mathematics. The paper — “A Composable Security Treatment of the Lightning Network” — describes the lack of formal verification for lightning’s code specification “a dire state of affairs” since lightning is today used to secure real money — at least $8.5 million.

The process by which they did this is known as formal verification. While it’s a popular in the cryptocurrency space and helpful for determining the security of code, “formal security” is not done on every code program. Because of the deep knowledge required, it’s quite expensive.
‘Rock-solid’ specification
The results are positive, showing that the underlying cryptography piled together to make the payment system work is sound, the researchers argue.
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ronjor · Sep 23, 2019

IBM says it’s open to working with Facebook on digital currency

Ryan Browne@Ryan_Browne_ 23 sep 2019
Key Points
IBM exec says the firm is looking to foster “collaboration” across industries when it comes to blockchain.
He says it’s important to distinguish between talk of cryptocurrencies and the “tokenization” of assets.
Companies like IBM have taken the principles behind cryptocurrencies to create their own blockchain solutions.
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