Online Cash Bitcoin Could Challenge Governments, Banks

guest · Dec 31, 2018

Lite.IM Adds Bitcoin (BTC) Support to Facebook Messenger, Telegram and SMS
December 30, 2018
https://ethereumworldnews.com/lite-...pport-to-facebook-messenger-telegram-and-sms/

Back in early August this year, the team at Lite.IM had taken crypto adoption to a whole new level when they announced that Litecoin (LTC) was available via Telegram and Text Messages. The move by Lite.IM was aimed at expanding cryptocurrency access to a wider global population.
Lite.IM Adds Bitcoin (BTC) Support to Facebook Messenger, Telegram and SMS
It is with the above background that the same team has announced that they have added support for Bitcoin (BTC) on Lite.IM. Users can now send, receive and manage BTC through the popular platforms of Telegram, Facebook messenger and SMS (available only in the US and Canada).
Why Lite.IM believes Social Messaging Will be Key in Crypto Adoption
To note, is that Lite.IM’s services are available in the social media platforms of facebook messenger and Telegram. The focus on the platforms is strategic in that Lite.IM believes that crypto adoption will be driven by such social media platforms due to the billions of users they have. The Lite.IM team went on to explain [...]
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Minimalist · Jan 1, 2019

Cryptocurrency Wallet Hacks Spark Dustup

Hardware based cryptocurrency wallets may not be as secure as promised. That’s the judgement of Dmitry Nedospasov, Thomas Roth and Josh Datko who together presented their research at a session here at the 35c3 conference called “wattet.fail.”
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https://threatpost.com/cryptocurrency-wallet-hacks-spark-dustup/

Minimalist · Jan 2, 2019

Japan: E-commerce Giant DMM Shutters Crypto Mining Business Due to Declining Profitability

Japanese e-commerce conglomerate DMM.com Ltd. will shut down its crypto mining business, citing deteriorating profitability as the main cause. Local business magazine Toyo Keizai reported the shutdown on Dec. 30.
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https://cointelegraph.com/news/japa...ining-business-due-to-declining-profitability

Minimalist · Jan 2, 2019

How blockchain may kill the password

Imagine a company that can verify the background of a new employee and onboard them with the click of a single virtual button, or a banking customer who can verify their identity for a loan without exposing personally identifiable information – again with a click of a button.

That's the potential blockchain holds for decentralized identity management. It's done by creating a digital wallet that serves as a repository for all kinds of personal and financial data, info that can only be shared after a specific request and only with the permission of the owner.
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https://www.computerworld.com/article/3329962/blockchain/how-blockchain-may-kill-the-password.html

guest · Jan 2, 2019

HitBTC Accused of Freezing Customer Accounts Ahead of Tomorrow’s Proof of Keys Celebration
January 2, 2019
https://ethereumworldnews.com/hitbt...ahead-of-tomorrows-proof-of-keys-celebration/

This January 3rd is the beginning of a new tradition that has been planned to force exchanges and other third party services to prove they actually have the reserves of cryptocurrencies they claim to own.
Known as the Proof of Keys Celebration, the event name was coined by Trace Mayer and will involve users of the numerous third party services withdrawing as much crypto from the respective platforms.
HitBTC Restricting Accounts of Users Who Want to Withdrawing their Crypto
Redditor PEDXS took to the social media platform to express his displeasure with HitBTC restricting his account after passing KYC procedures and being granted the ‘verified’ status on the trading platform. Hhe explained: [...]

He would later add that the timing of the withdrawal restrictions and the reluctance of HitBTC to respond to his queries can only mean that the coincidence is more than meets the eye.
John McAfee Reiterates that He Had Warned Everyone About HitBTC
When the story broke of HitBTC restricting crypto withdrawals, John McAfee took to twitter to remind his followers that he had warned dozens of times about the workings of the exchange.
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guest · Jan 3, 2019

BitTorrent Is Launching Its Own Cryptocurrency on the Tron Network
January 3, 2019
https://www.coindesk.com/bittorrent-is-launching-its-own-cryptocurrency-on-the-tron-network

Justin Sun, founder of Tron and CEO of BitTorrent, said in a press release:

“In one giant leap, we can introduce blockchain to hundreds of millions of users around the world and empower a new generation of content creators with the tools to distribute their content directly to others on the web.”
With BTT, users can pay someone with the file to send it to them and they can pay for more bandwidth, so it downloads faster. With the prospect of payment, file hosts have an incentive to keep more files available to the network, making it more likely that a given user will be able to download something they want more quickly.

A Tron spokesperson confirmed that the company will not be taking a cut of those transactions.
BTT will be a TRC-10 token (comparable to the ERC-20 tokens that run on top of ethereum). According to the token’s white paper, shared with CoinDesk, a total supply of 990 billion BTT will be minted.
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BitTorrent Token Whitepaper (PDF): https://www.bittorrent.com/btt/btt-docs/BitTorrent_Token_Whitepaper.pdf

guest · Jan 4, 2019

Ethereum Plans to Cut Its Absurd Energy Consumption by 99 Percent
The cryptocurrency is going on an energy diet to compete with more efficient blockchains
January 2, 2019
https://spectrum.ieee.org/computing...t-its-absurd-energy-consumption-by-99-percent

Ethereum mining consumes a quarter to half of what Bitcoin mining does, but that still means that for most of 2018 it was using roughly as much electricity as Iceland. Indeed, the typical Ethereum transaction gobbles more power than an average U.S. household uses in a day.

“That’s just a huge waste of resources, even if you don’t believe that pollution and carbon dioxide are an issue. There are real consumers—real people—whose need for electricity is being displaced by this stuff, [...]"

Buterin plans to finally start undoing his brainchild’s energy waste in 2019.
[...] plan to field-test a long-promised overhaul of Ethereum’s code. If these developers are right, by the end of 2019 Ethereum’s new code could complete transactions using just 1 percent of the energy consumed today.
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Minimalist · Jan 5, 2019

‘Crypto Needs Rules’ Says New Gemini Ad Campaign

The Gemini cryptocurrency exchange founded by the Winklevoss twins in 2014 is calling for better regulation of the crypto space in a new ad campaign, the Wall Street Journal (WSJ) reports on Jan. 4.
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https://cointelegraph.com/news/crypto-needs-rules-says-new-gemini-ad-campaign

Minimalist · Jan 5, 2019

Is the Malta ICO regulation crypto-friendly?

In November, Malta passed a 63-page regulation detailing the requirements for issuing virtual financial assets, better known as cryptocurrencies, cryptoassets or tokens. While many in the crypto community welcome this change as the beginning of the end of the “Wild West” stage, it has both benefits and downsides to issuers of new tokens. When it comes to ICO whitepaper writing, it’s new territory.
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https://hackernoon.com/is-the-malta-ico-regulation-crypto-friendly-69c2bbb0a552

Minimalist · Jan 5, 2019

Proof of Keys Event May Highlight Centralization of Crypto, but Some of Its Claims Are Unfounded

Bitcoin celebrated its 10th birthday on Jan. 3, and in commemoration of this milestone, the very first Proof of Keys event was held. Organized by crypto investor and podcast host Trace Mayer, it urged cryptocurrency traders to withdraw their holdings from crypto exchanges, in order to promote the decentralization and monetary independence on which Satoshi Nakamoto's vision for Bitcoin was founded.
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https://cointelegraph.com/news/proo...f-crypto-but-some-of-its-claims-are-unfounded

Minimalist · Jan 5, 2019

Five More Exchanges Join Japan’s Self-Regulatory Crypto Exchange Association

Five more cryptocurrency exchanges have joined the Japan Virtual Currency Exchange Association (JVCEA), according to an official announcement on Jan. 4 from the JVCEA.
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https://cointelegraph.com/news/five...s-self-regulatory-crypto-exchange-association

guest · Jan 5, 2019

NVIDIA Slapped With Class Action Lawsuit Tied To Cryptocurrency Implosion
January 1, 2019
https://hothardware.com/news/nvidia-faces-class-action-lawsuit-cryptocurrency-implosion

A law firm in Los Angeles, California is encouraging investors who lost in excess of $100,000 by pouring money into NVIDIA's stock to contact the agency for participation in a possible class-action lawsuit.

"[...] NVIDIA also claimed to the market that any drop off in demand for its GPUs amongst cryptocurrency miners would not negatively impact the Company’s business because of strong demand for GPUs from the gaming market," the complaint states.

The cryptocurrency craze (and subsequent crash, of sorts) was a unique situation. If nothing else, it feels like this sort of lawsuit is jumping the gun, given that NVIDIA stated in November that it had excess stock on its hands.
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Minimalist · Jan 7, 2019

Limitations of Blockchain Technology

The elephant in the room is the viability and sustainability of blockchain technology. Cryptocurrency mining, for instance, requires specialized rigs that consume electricity. In certain estimates, at the time of writing, the bitcoin network’s energy consumption came in at 41 globally if it was a country. This means the bitcoin blockchain consumes more energy than Switzerland and Czech Republic.
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https://www.tripwire.com/state-of-security/featured/limitations-of-blockchain-technology/

Minimalist · Jan 7, 2019

New crypto exchange takes on behemoths with physical bitcoin futures

The contest is heating up to gain marketshare in one of the most closely watched products in the world of cryptocurrencies: physically delivered Bitcoin futures.

While the owner of the New York Stock Exchange is expected to start offering such contracts shortly and Chicago's Eris Exchange LLC plans to follow, the firm that says it was first to market has spun off from its previous owners and will provide the derivatives on some of the largest digital coins to Asian retail investors beginning next month.
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https://www.chicagobusiness.com/fin...ange-takes-behemoths-physical-bitcoin-futures

Minimalist · Jan 7, 2019

Leading crypto wallet adds Bluetooth support for mobile bitcoin access

On Sunday at CES, the crypto wallet company Ledger revealed its latest device — the Bluetooth-enabled Ledger Nano X. The device is roughly similar to the previous Nano S, offering more support for multiple wallets and coin types but leaving internals otherwise the same. But Bluetooth will allow the X to connect to mobile devices through the new Ledger Live app, a powerful new way to access hardware wallets through your phone.
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https://www.theverge.com/2019/1/6/18171346/ledger-nano-x-bluetooth-crypto-hardware-wallet-ces-2019

guest · Jan 7, 2019

Bitcoin Payments Aren’t Dead, They’ve Just Gone Niche
January 5, 2019
https://www.coindesk.com/bitcoin-payments-merchants-crypto-art

In September 2017 – a period of surging cryptocurrency prices and publicity – the Lynx Art Collection began offering crypto-themed artworks with litecoin, monero, ether, and bitcoin payment options. Yet even when market prices dipped, their gallery sales continued climbing.

Revealed exclusively to CoinDesk, the Lynx Art Collection had received more than 500 crypto payments for various prints and artworks by December 2018, making up roughly 75 percent of its annual sales.
Crypto fans proved to be loyal customers, even when the markets fluctuate.
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guest · Jan 7, 2019

Davincij15 (Predictor of the Bitcoin Revolution Back in 2011) Presents a New Cryptocurrency Ranking System
January 6, 2019
https://ethereumworldnews.com/davin...presents-a-new-cryptocurrency-ranking-system/

This entrepreneur became popular in the crypto-verse after the viralization of a video published by him in 2011, talking about the characteristics of Bitcoin, its advantages as a means of storing value and electronic money as well as the accelerated growth that this technology (practically unknown at the time) would experience in the coming years.

The document has three sections: The first part establishes a general classification of cryptos in groups of 4 Tiers. The second part explains a system to give a score to each cryptocurrency, adding or subtracting points according to their characteristics. The third part provides tips for successful crypto trading.
The Tiers system sets specific characteristics that allow the analyst to determine the chances for a crypto to be successful in the future [...]
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ronjor · Jan 7, 2019

Coinbase suspends Ethereum Classic (ETC) trading after double-spend attacks

By Catalin Cimpanu January 7, 2019
Attackers carried out 11 double-spend attacks and stole nearly 88,500 ETC (~$460,000).
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ronjor · Jan 9, 2019

New 'Crypto Dusting' Attack Gives Cash, Takes Reputation

Curtis Franklin Jr. 1/8/2019
This new form of crypto wallet fraud enlists unwary consumers and companies to help defeat anti-money laundering methods for law enforcement and regulators.
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guest · Jan 9, 2019

Regulators say new EU cryptoasset rules may be needed
January 9, 2019
https://www.reuters.com/article/us-...cryptoasset-rules-may-be-needed-idUSKCN1P316K

New European Union rules may be needed to better protect consumers from cryptoasset risks, prevent money laundering and stop diverging national regulations from creating unfair competition, EU regulators said on Wednesday.

The EBA and ESMA recommendations mark a step closer to regulating the sector in Europe after attempts to find global consensus for rules have failed so far to go beyond monitoring the industry more closely.
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guest · Jan 9, 2019

Russia to Buy Billions of Dollars Worth in BTC Next Month, Russian Economist Says
January 9, 2019
https://ethereumworldnews.com/russia-buy-billions-usd-btc/

According to Vladislav Ginko, a lecturer at Moscow’s Russian Presidential Academy of National Economy and Public Administration, the Russian government could be considering the acquisition of 470 billion dollars in Bitcoins as a way to switch part of its reserves from fiat to cryptocurrencies.
The Next Big Thing in Crypto
In a tweet responding to Chris Burniske on the problem of the low adoption of cryptocurrencies compared to other financial markets, Ginko mentioned that one of the factors that could contribute to increasing capitalization is the acquisition of tokens by governments.

“US sanctions may be mitigated only through Bitcoin use. Because of US sanctions, Russia’s elite is forced to dump US assets and US dollars and invest hugely into Bitcoins …The central bank of Russia sits on $466 billion of reserves and has to diversify in case there are limited opportunities to do it (in the future).”
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guest · Jan 10, 2019

Bitcoin Freebies in your cryptocurrency wallet may land you in trouble
January 9, 2019
https://cyware.com/news/bitcoin-fre...rency-wallet-may-land-you-in-trouble-1c8bf00d

The next time a fraction of a bitcoin pops up in your cryptocurrency wallet from an unknown source, don't get excited. It could turn out to be a part of some nefarious activity going on behind the scenes.

However, such a freebie might prove to be risky for the recipient. Jevans explains, "You have engaged in a transaction with a known money-laundering service, so it will raise the risk on your accounts for any exchange that has implemented anti-money laundering protocols."
Recommendations
"On the consumer side, when you receive money like this — a small amount from an unknown source — the best thing to do is go in and block it from being sent. If you ever spend it, it will wreak havoc with your privacy, " Jevans added.
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Minimalist · Jan 10, 2019

Criminals Grabbed at Least 4,3 Percent of All Monero Coins on the Market

Researchers from the Universidad Carlos III de Madrid and the King’s College London analyzed a vast data set of 4.4 million malware samples collected between 2007 to 2018 to quantify the amount of Monero (XMR) coins criminals using crypto-mining malware have been able to accumulate.
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https://www.bleepingcomputer.com/ne...-3-percent-of-all-monero-coins-on-the-market/

Minimalist · Jan 10, 2019

How to hack a hardware cryptocurrency wallet

Hardware wallets are considered to be the most secure type of cryptocurrency wallet. However, nothing is 100% secure, and they can be compromised just as well. At the 35th Chaos Communication Congress, security researchers Thomas Roth, Dmitry Nedospasov, and Josh Datko demonstrated several ways to do it. But before we jump into hacking, a little background on what a hardware wallet actually is and how it works.
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https://www.kaspersky.com/blog/hardware-wallets-hacked/

Minimalist · Jan 11, 2019

Crypto Exchange Seed CX Launches On-Chain Wallet Solution for Institutional Investors

Crypto exchange Seed CX — a Chicago-based licensed platform targeting institutional clients — has launched a digital asset wallet solution with on-chain settlement, according to a press release published Jan. 10.

Seed CX has reportedly developed the new wallet solution together with its settlement subsidiary, Zero Hash — a crypto and fiat currency custodian providing on-chain settlement services. Zero Hash reportedly has FinCEN’s regulatory approval to operate as a money transmitter across 25 American states, and is also under review for a prospective BitLicense from the New York State Department of Financial Services (NYDFS).
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https://cointelegraph.com/news/cryp...n-wallet-solution-for-institutional-investors

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