Online Cash Bitcoin Could Challenge Governments, Banks

ronjor · Sep 13, 2018

Mt. Gox plaintiffs must take cases to Tokyo to claim lost funds

Matthew Beedham
The Mt. Gox saga appears to be far from over as a Pennsylvania judge has dismissed the case of a claimant on the grounds of a lack of jurisdiction in the case.
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ronjor · Sep 14, 2018

Google's top fraud fighter explains why it's risky to brag about owning bitcoin

Kate Fazzini
A Google executive who oversees email fraud, abuse and identity issues says people need to rethink the contemporary threats to their email accounts.
Bragging about owning a lot of bitcoin on a public message board can make you a target.
Scammers today often research potential victims before approaching them, using info from social media and other sources.
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guest · Sep 15, 2018

Almost $240,000 Worth Of EOS Tokens Stolen In DApp Smart Contract Hack
September 15, 2018
https://ethereumworldnews.com/almost-240000-worth-of-eos-tokens-stolen-in-dapp-smart-contract-hack/

Ethereum rival EOS has suffered a smart contract security breach on one of its decentralized applications which has resulted in the theft of around $240,000 worth of tokens.

A weakness in gambling application EOSBet’s smart contracts has been exploited just days after claiming it was one of the safest dApps online. According to Hard Fork which reported the hack and EOS Bet spokesperson said:

“A few hours ago, we were attacked, and about 40,000 EOS was taken from our bankroll. This bug was not minor as was stated previously, and we are still doing forensics and piecing together what happened.”
In a twist of irony just days before the incursion, EOSBet Casino mocked a competitor for getting hacked.

Earlier today the EOSBet team released an official hack statement explaining the situation
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Minimalist · Sep 16, 2018

Irrational Exuberance Revisited: Is Crypto The New Dot-Com Bubble?

If you have ever encountered the word ‘cryptocurrency’ or ‘bitcoin,’ there is a solid chance that within the same paragraph or even sentence the word ‘bubble’ could also be found. Bubble has indeed become a shibboleth for crypto sceptics, especially after the market soared at the end of 2017, and the widening gap between valuation and intrinsic value of digital currencies and tokens became ostensible to many.
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https://cointelegraph.com/news/irrational-exuberance-revisited-is-crypto-the-new-dot-com-bubble

Minimalist · Sep 16, 2018

Crypto already beats VISA’s transaction capacity

Cryptocurrencies have long surpassed the transaction capacity of every traditional payment system in the world.

This might be considered a controversial statement in the current crypto market atmosphere, where bitter debates are raging on which existing or upcoming solution scales best. But let me explain my point of view.
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https://hackernoon.com/crypto-already-beats-visas-transaction-capacity-aa6e474a257e

Minimalist · Sep 16, 2018

From Malta to Prague: What Is the Most Crypto-Friendly Travel Destination?

Backed with continuing adoption, crypto holidays have become a reality. At this point, flights and hotels all around the world can be booked with Bitcoin (BTC). Still, some cities are more ready to accept your BTC — and major altcoins — than others, depending on the local infrastructure and crypto-related policies.

According to data from Coinmap, currently there are around 13,150 venues, shops and ATMs supporting Bitcoin on the planet, and that number has been unhesitatingly growing since late 2013.
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https://cointelegraph.com/news/from...s-the-most-crypto-friendly-travel-destination

DesuMaiden · Sep 16, 2018

For some reason, I don't think Bitcoins is going to replace or challenge mainstream currency anytime soon. I suspect it might have something to do with the violality of Bitcoins. The value of Bitcoins flacuates too frequently and to too much of a degree for Bitcoins to even remotely be a safe investment. And it also might have something to do with the fact that many people use illegal means of mining Bitcoins, like stealing cpu resources from infected computers. Because Bitcoins is oftentimes associated with illegal online activities, this is why I don't think Bitcoins will ever challenge--let alone replace --mainstream currency.

Soft Life · Sep 16, 2018

I think the world powers are going to stamp Bitcoin out eventually. Whether they hack it to pieces or have something else up their sleeve like demonizing it. The money system we are trapped in world wide is here to stay and Bitcoin started to show possibilities of disrupting the monetary system in place already.

If the powers in control let Bitcoin grow they would lose power over all in this world. I believe Bitcoin will be further attacked until its useless.

Slaves we are.. every last one of us to the system, a controlling system. Where soon cash will be useless in an all digital age.

guest · Sep 17, 2018

Europe’s central bank wants nothing to do with cryptocurrency (for now)
Its president doesn't see the need
September 14, 2018
https://thenextweb.com/hardfork/2018/09/14/europe-cental-bank-no-cryptocurrency/

Europe’s central bank (ECB) won’t be touching cryptocurrency any time soon. Its president Mario Draghi shot down hopes of an EU-sanctioned digital currency, criticising blockchain tech for being too young and fragile to be useful.

“The ECB and the Eurosystem currently have no plans to issue a central bank digital currency,” Draghi disclosed to the European Parliament. He then proceeded to declare that blockchains still “require substantial further development,” and saw no “concrete need” for Europe to issue an official digital currency, Reuters reports.

Draghi also downplayed demand for one. He referenced the persistence of cash transactions within the Eurozone as proof.
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guest · Sep 17, 2018

mood said: ↑

Mt. Gox says it may start paying back creditors as soon as next year
June 22, 2018
https://www.theverge.com/2018/6/22/17493628/bitcoin-exchange-mt-gox-debt-pay-back-creditors
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Mt.Gox Creditor: Payouts May “Completely Crash The Market”
September 17, 2018
https://ethereumworldnews.com/mt-gox-creditor-payouts-may-crash-market/

[...] victims of the hack can finally make claims over the over 170,000 BTC and BCH that have become a part of the Japanese court case.

Although this is evidently a positive development in the five-year Mt.Gox debacle, some fear that once payouts start going out, that the market may crash as a result of a potential mass liquidation event.

[...] if anybody or any group of individuals ever tried to liquidate Mt.Gox’s holdings to do payouts in fiat currencies, the market would crash. He based his prediction on the fact that there may not be enough demand for 170,000 BTC and BCH, so the selling of these digital assets would topple order books, pushing down the price of crypto assets across the board.
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Minimalist · Sep 17, 2018

Newcastle crypto move could boost January transfer funds

Newcastle United are one of two Premier League teams reportedly in talks about launching a cryptocurrency to raise funds for the January transfer window.

According to The Times, the Toon and fellow strugglers Cardiff City are in discussions with decentralised sports funding platform SportyCo and investment company Blackbridge about launching Initial Coin Offerings.
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http://www.businesscloud.co.uk/news/newcastle-crypto-move-could-boost-january-transfer-funds

guest · Sep 17, 2018

Unikeys launches Ukey card to store cryptocurrencies in a familiar form factor
September 17, 2018
https://venturebeat.com/2018/09/17/...e-cryptocurrencies-in-a-familiar-form-factor/

Biometrically secured hardware wallet solution provider Unikeys has announced its hardware wallet, the UKey card, which introduces fingerprint technology to secure users’ cryptocurrencies in a familiar form factor: a credit card-style device.

So what makes the UKey card different? [...] Unikeys has included a fingerprint sensor that lets users store biometric data without ever exposing that information to the internet or storing it with a third party.

“The UKey card is a cold wallet,” Unikeys CEO and cofounder Alexandre Tabbakh told me. “Cold storage wallets refer to any type of wallet that is independent of any internet connections (paper wallets, brain wallets, or hardware wallets), like physical devices that safely store and isolate private keys.”

“With the UKey card, the private keys are isolated inside the card and can only be utilized to sign transactions through an accurate fingerprint authentication,” Tabbakh said. “Even if the user’s phone gets hacked, the hacker won’t be able to retrieve the private keys.”
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guest · Sep 18, 2018

Dubai Security Chief Wants Stricter Cryptocurrency Laws
September 18, 2018
https://ethereumworldnews.com/dubai-security-chief-wants-stricter-cryptocurrency-laws/

The Use of Cryptocurrency in Electronic Crimes
Assistant-Commander of the Criminal Investigation Department (CID), Major-General Khalil Ibrahim Al Mansouri, said that the public was not enlightened on the dangers of virtual currency. This made them easy targets for various electronic crimes.

Dubai experts at a panel discussion called for a supreme national committee that would create the groundwork for the monitoring of cryptocurrencies. This would be tailored in accordance with the Emirates Blockchain Strategy.
Cryptocurrency Commerce in Dubai
Dubai is already becoming an emerging cryptocurrency commerce hub, especially in the real estate sector. Late last year, property developers began accepting Bitcoin as payment for newly built deluxe apartments.

[...] the Dubai government developed its new virtual currency called emCash. According to a top Dubai official, the new cryptocurrency can be used for utility charges, money transfers, and personal needs.
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ronjor · Sep 19, 2018

Bug in Bitcoin code also opens smaller cryptocurrencies to attacks

By Catalin Cimpanu for Zero Day | September 19, 2018
Simple denial of service bug can crash unpatched Bitcoin network nodes and may also affect many Bitcoin-based cryptocurrency offshoots.
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ronjor · Sep 19, 2018

Zaif cryptocurrency exchange loses $60 million in recent hack

By Catalin Cimpanu for Zero Day | September 19, 2018
The Osaka-based cryptocurrency exchange discovered hack two days ago, and is working to secure funds to reimburse affected users.
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guest · Sep 20, 2018

Japan lost over $540M in cryptocurrency hacks in first half of 2018
But things look to be improving
September 20, 2018
https://thenextweb.com/hardfork/2018/09/20/japan-cryptocurrency-hacks-2018/

Hackers have swiped over $540 million (60 billion Yen) worth of cryptocurrency from Japanese netizens over the first six months of 2018.

On September 20, Japan’s National Police Agency revealed the number of cryptocurrency-related reported incidents rose to 158 – triple the amount of incidents over the same period last year, local outlet The Asahi Shimbun reports.

The reports claim more than half of all accidents reported were the result of unsuitable account security. Many cryptocurrency users do not use unique passwords and IDs for each of their online accounts.

Figures show a decrease in cryptocurrency hacks due to improved awareness about account security from users.
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ronjor · Sep 20, 2018

NY Attorney General: Cryptocurrency exchanges lack security, fairness, and integrity

Matthew Beedham
Cryptocurrency exchanges may not be as safe as we first thought. A report from the state of New York’s Attorney General has revealed that most exchanges do not have basic consumer protections in place, leaving them vulnerable to manipulation.
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ronjor · Sep 20, 2018

Crypto Pioneer David Chaum Says He’s Built a Better Bitcoin

By Paul Vigna Sept. 19, 2018
David Chaum, who built his own digital currency more than a decade before bitcoin was introduced, is unveiling a new platform that he claims would allow digital cash to be traded almost as quickly as physical cash.
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guest · Sep 21, 2018

Why Ripple is said to be the next Bitcoin
September 21, 2018
https://thenextweb.com/contributors/2018/09/21/why-ripple-is-said-to-be-the-next-bitcoin/

The strength of Ripple
Recently, Ripple has gained a lot of attention and partnerships. Financial experts are predicting that Ripple could be the next Bitcoin. But same as Bitcoin, its value will not rise overnight, but we can expect to see a significant increase by 2019.

Ripple was launched in 2012, approximately three years after Bitcoin. [...] Currently, many financial institutions prefer Ripple due to its payment processing. The Ripple XRP token is being ranked third in the coinmarketcap.
Ripples transaction fees and speed
At first, in comparing how Ripple and Bitcoin process its transactions, Ripple comes out faster by miles. For instance, when sending or receiving XRP from one wallet to the other, it takes seconds for the transaction to be processed and confirmed.
Scalability
Once again, when it comes to scalability, the Ripple system works better than Bitcoin. As mentioned earlier, Ripple transaction speed is very high. For instance, it takes Bitcoin approximately one second to handle seven transactions. Well, in the case of Ripple XRP, it can handle over 1,500 per seconds.
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ronjor · Sep 21, 2018

Switzerland tries to stem blockchain exodus by improving access to banks

Brenna Hughes Neghaiwi September 21, 2018
ZURICH (Reuters) - In an effort to maintain its status as a cryptocurrency hub, Switzerland has taken steps to help blockchain companies access the traditional financial system by making it easier for them to open corporate bank accounts.
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Minimalist · Sep 22, 2018

Botchain Aiming to Set the Standard For Bot Security

The alert you get on your phone when a package is delivered or text you receive from your bank when a purchase was made online isn’t being sent by a human. A machine, an artificial intelligence bot is sending you that message. And when you view it, there is no marker or badge to prove it was sent from a verified source.

That’s where, in theory, a new decentralized blockchain platform called Botchain comes in. Its developer’s idea is that every bot has a certificate of ownership, similar to how you can check the SSL verification of a website.
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https://www.ibtimes.com/botchain-aiming-set-standard-bot-security-2719042

Minimalist · Sep 22, 2018

The crypto fatigue is real

I’ll admit it, this prolonged cryptocurrency bear market that we’re in has got me feeling down. A year ago I was enormously bullish on everything blockchain and cryptocurrency, and I still am, but 2018 has given me a mild distaste for the whole space.

The market’s continuous, slow bleed throughout the year definitely has to take some blame for that, but I believe it’s mostly due to following the space closely. I can’t help noticing all the growing pains that this industry is currently going through, and it’s difficult not to take everything in.
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https://thenextweb.com/contributors/2018/09/22/the-crypto-fatigue-is-real/

ronjor · Sep 22, 2018

The Latest Bitcoin Bug Was So Bad, Developers Kept Its Full Details a Secret

Alyssa Hertig Sep 21, 2018
This week's major bitcoin bug was even worse than developers initially let on.

The bug originally rocked the bitcoin world when it was reported the vulnerability could be used to shut down a chunk of the network.
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Minimalist · Sep 23, 2018

Gemini dollars: The most promising thing to happen to crypto in months

Earlier this week, the Winklevoss twins announced a new currency built on the Ethereum blockchain that can be used for low cost cross-border transactions, all backed by the U.S. dollar. To date the Winklevoss twins have made the news for their efforts to bring cryptocurrencies into the mainstream. The twins, who founded Gemini, one of the United States’ largest cryptocurrency exchanges, have dubbed the new currency Gemini dollars, known by the symbol “GUSD.” Gemini has said each GUSD will be FDIC insured, federally audited, and entirely backed on a 1:1 basis by U.S. dollars. In other words, it’s a “stablecoin.”
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https://venturebeat.com/2018/09/22/...romising-thing-to-happen-to-crypto-in-months/

Minimalist · Sep 23, 2018

Singapore is the crypto sandbox that Asia needs

Singapore Blockchain Week happened this past week. While there have been a few announcements from companies, some of the most interesting updates have come from regulators, and specifically, the Monetary Authority of Singapore (MAS). The financial regulator openly discussed its views on cryptocurrency and plans to develop blockchain technology locally.
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https://techcrunch.com/2018/09/22/singapore-is-the-crypto-sandbox-that-asia-needs/

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