Online Cash Bitcoin Could Challenge Governments, Banks

guest · Feb 2, 2019

Analyst says Nvidia lied about its cryptocurrency earnings to avoid stock crash
February 2, 2019
https://www.techspot.com/news/78548...bout-cryptocurrency-earnings-avoid-stock.html

Big quote: "We think Nvidia generated $1.95 billion in total revenue related to crypto/blockchain," said Royal Bank of Canada Capital Market Analyst Mitch Steves. "This compares to company's statement that it generated around $602 million over the same time period."

Steves hasn’t suggested exactly how Nvidia is masking its revenue, which is something of a lynchpin. While they obviously cannot lie to shareholders’ faces, it might be possible to conceal the revenue by quickly funneling it into other projects or having third parties, such as OEMs, pay for the GPU boards over a longer period.

If Nvidia did conceal their total revenue then that does bode badly for future profits, as the non-crypto market would be substantially smaller than is currently believed
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Minimalist · Feb 3, 2019

Japan’s Crypto Garage to roll out yen stablecoin

Bitcoin infrastructure firm Blockstream, investment firm Tokyo Tanshi, and internet company Digital Garage are collaborating to form Crypto Garage — a new crypto asset payment project that has been granted sandbox status by Japan's Financial Services Authority and the Cabinet Secretariat.

Sandbox status will permit the evolution of Crypto Garage's 'Settlenet' service — which aims to use Blockstream's sidechain settlement network Liquid to offer clients a fast and secure way of tokenizing fiat currencies, securities, and cryptocurrencies, starting with the Japanese Yen.
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https://bravenewcoin.com/insights/japan's-crypto-garage-to-roll-out-yen-stablecoin

Minimalist · Feb 3, 2019

Bitcoin Futures Expired Last Week, Did It Affect $10 Billion Plunge of Crypto Markets?

On Jan. 29, the valuation of the crypto market plunged by more than $10 billion within a 48-hour period, from $121 billion to $111 billion.

Major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) recorded losses in the range of 5 to 10 percent against the United States dollar, demonstrating poor momentum.

Throughout the past several months, the cryptocurrency market has demonstrated volatility in a low price range, unable to break out of key resistance levels.
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https://cointelegraph.com/news/bitc...it-affect-10-billion-plunge-of-crypto-markets

guest · Feb 3, 2019

Unconfirmed: CoinLab Increases Mt. Gox Claim from $75 Million to $16 Billion
February 3, 2019
https://cointelegraph.com/news/unco...es-mt-gox-claim-from-75-million-to-16-billion

CoinLab has reportedly filed a 1.7 trillion JPY ($16 billion) claim against the now-defunct cryptocurrency exchange Mt. Gox, according to an alleged photo of the filing document posted on Reddit on Feb. 1.

This lawsuit, according to multiple sources, could be delaying payouts to users that lost funds the collapse of the exchange.
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Minimalist · Feb 3, 2019

How At-Home Crypto Mining Outperforms Buying Crypto

Looking in from the outside, cryptocurrency mining can be opaque and confusing. It is intimidating to learn about, to say nothing of trying to determine whether it makes sense to actually participate in. In fact, this is exactly why we started Coinmine — — to make crypto and powering crypto easy. To date, one consistent motivation for at home mining has been something we’ve called “Liberty Crypto” — the ability to secure a sovereign future for yourself and others by participating in the creation of new, non-fiat monies.
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https://hackernoon.com/how-at-home-crypto-mining-outperforms-buying-crypto-8f30d87d2348

guest · Feb 3, 2019

Crypto Is Over: Paris Fintech Summit Returns to Disrupting Banks
February 3, 2019
https://www.bloomberg.com/news/arti...eturns-to-disrupting-banks?srnd=technology-vp

Crypto fever has truly broken.
That was a big takeaway this week from the Paris Fintech Forum, one of the biggest annual gatherings of its kind in Europe.

With the top 10 crypto assets down 80 percent in the last 12 months and skepticism mounting, many fintech pros concluded that the technology may not be ready for prime time, especially in an industry this heavily regulated.
“Banks are not ready for a model where you convert into a crypto and then convert back again,” Leibbrandt said. “It’s not clear to us that blockchain is better than what we have today.”
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guest · Feb 4, 2019

The Indian government is worried that cryptocurrencies may destabilise the rupee
February 4, 2019
https://qz.com/india/1539944/india-fears-that-bitcoin-other-cryptocurrencies-may-hurt-rupee/

From money laundering to terror financing, the risks associated with cryptocurrencies are well known. But a high-level panel tasked with drafting rules for India’s virtual currency ecosystem is now obsessed with its impact on a less-explored area.

The committee, led by the top bureaucrat Subhash Chandra Garg is believed to be in a tangle over the impact that digital coins will have on the Indian rupee if they are allowed for making payments.
Truth or hype?
“At this point it may be a bit premature to worry about this as right now even globally only a handful of payments are made using virtual currencies and that will be the case till blockchain reaches the scale that say Mastercard or Visa have,” said Rahul Raj, founder of Koinex, an Indian cryptocurrency exchange.

“Therefore, there is (a) considerable time before that concern even comes up.”
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ronjor · Feb 4, 2019

Chainalysis Report: Two Groups Responsible for Most Publicly Reported Hacks

Aaron van Wirdum @AaronvanW Feb 1, 2019
Two “prominent professional hacking groups” are responsible for the majority of publicly reported hacks of cryptocurrency exchanges and other cryptocurrency organizations, concludes a report published by blockchain data analytics firm Chainalysis this week. According to the report, simply called the Crypto Crime Report, the groups generated around $1 billion of hacking revenues for themselves so far.
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ronjor · Feb 4, 2019

The SEC wants to know about your blockchain

Story by Matthew Beedham Published February 4, 2019
According to a statement, the Securities and Exchange Commission (SEC) is looking for information about the most popular blockchains, how they are used, and the details included in cryptocurrency transactions. We’ve heard some pretty dystopian things about how the UK government is looking to use blockchain to track identities, and the US government is looking at techniques for privacy coin forensics; this is right up there. Though it doesn’t mean the SEC will be successful, this is just a request for any information that might help the SEC when investigating blockchain and cryptocurrency cases.
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Minimalist · Feb 4, 2019

Crypto exchange Kraken buys London trading firm in nine-figure deal

San Francisco-based cryptocurrency exchange Kraken has finalised a deal to buy London trading firm Crypto Facilities.

Kraken said it was one of the industry’s largest deals to date, valued at nine-figures. Though Crypto’s 25-strong team will remain in London, they will all become Kraken employees and expand the US firm's commitment to expanding its European presence.
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http://crypto.cityam.com/article/272715/crypto-exchange-kraken-buys-london-trading-firm-nine-figure

Minimalist · Feb 4, 2019

Switzerland: Crypto Bank Seba Partners With Mortgage Bank Hypothekarbank

Switzerland-based crypto bank Seba Crypto AG has signed an agreement with Swiss mortgage bank Hypothekarbank Lenzburg AG to use its core banking system, Finstar, Cointelegraph auf Deutsch reports on Jan. 31.

The partnership will allow for the implementation of Seba’s decentralized software into Finstar, as well as allowing Seba to use Finstar’s conventional services. Additionally, Seba will be able to use Finstar to process and store transactions made with cryptocurrencies and other blockchain-based products. The project is set to be completed in Q2 of 2019, a Jan. 31 press release notes.
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https://cointelegraph.com/news/swit...ba-partners-with-mortgage-bank-hypothekarbank

Minimalist · Feb 4, 2019

TurboTax to Add New Section for Calculating Crypto Taxes

United States tax preparation software TurboTax Online has reportedly partnered with CoinsTax, LLC to offer cryptocurrency tax calculation to its services, a press release reveals Monday, Feb. 4.

As the U.S. Internal Revenue Service (IRS) has just opened tax return filing, TurboTax is launching a new section for crypto taxation. The new service will be available for those who purchased 2018 premier and above versions.
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https://cointelegraph.com/news/turbotax-to-add-new-section-for-calculating-crypto-taxes

guest · Feb 4, 2019

Venezuela’s Crypto Exchanges, Miners Must Register Under New Rules
February 4, 2019
https://www.coindesk.com/venezuelas-crypto-exchanges-miners-must-register-under-new-rules

Venezuela has issued new rules for crypto service providers in the country, including exchange platforms and miners.

The publication in effect activated a new regulatory framework that means businesses working with crypto assets will now have to register with Sunacrip, the country’s superintendency of crypto-related activities.
Sunacrip will now establish the registration requirements and processes, and accordingly inform affected businesses, the gazette states. Those who will not register face a penalty equivalent to 100–300 petros, the country’s national cryptocurrency.

As a result of the decree, the regulator has now become the highest crypto authority in Venezuela, with powers ranging from day-to-day oversight to administrative-level execution of plans and programs.
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ronjor · Feb 4, 2019

Fire (and lots of it): Berkeley researcher on the only way to fix cryptocurrency

Dan Goodin - 2/4/2019
Nicholas Weaver made no bones about it: he really, really dislikes cryptocurrencies.
Speaking at the Enigma security conference in Burlingame, California, last week, the researcher at UC Berkeley's International Computer Science Institute characterized bitcoin and its many follow-on digital currencies as energy-sucking leeches with no redeeming qualities. Their chief, if not only, function, he said, is to fund ransomware campaigns, online drug bazaars, and other criminal enterprises.
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guest · Feb 4, 2019

Binance CEO Predicts Amazon Coin Coming “Sooner or Later”
February 4, 2019
https://ethereumworldnews.com/binance-ceo-amazon-cryptocurrency-2019/

Binance CEO Changpeng Zhao has reaffirmed his belief that Amazon, the online retail “everything” store, will be forced to issue its own token in order to keep up with the rise of cryptocurrency.

In a tweet published on Feb. 2 Zhao, who is one of the most prominent industry figures for cryptocurrency in addition to running Binance, stated that

Amazon will have to issue a currency sooner or later.
— CZ Binance (@cz_binance) February 2, 2019
Zhao’s comment came in response to an earlier published tweet, during which the CEO surmised that all internet based businesses should be accepting cryptocurrency for payment, particularly given the advantages of fully-digital currencies over their fiat counterparts.

Despite having made passive efforts to implement blockchain technology into their current operation, Amazon has been characteristically silent on the acceptance of cryptocurrency.
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ronjor · Feb 5, 2019

$16 billion claim filed over Mt. Gox debacle could scupper trustee cases

By Charlie Osborne for Between the Lines | February 5, 2019
The massive claim has brought restitution processes to a grinding halt.
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guest · Feb 5, 2019

Blockchain researchers are still finding critical vulnerabilities in EOS
February 5, 2019
https://thenextweb.com/hardfork/2019/02/05/eos-cryptocurrency-blockchain-hack/

Months after its nigthmarish launch, cryptocurrency and blockchain security researchers are still finding vulnerabilities in EOS, according to recent activity on breach disclosure platform HackerOne.
It’s worth noting that out of the eight bounties, five qualified for Block.one’s $10,000 reward, reserved for critical vulnerabilities.

Block.one wasn’t the only cryptocurrency business to deal with vulnerability reports last month though. Blockchain-based protocol TRON and exchange service Robinhood closed three bug reports each, followed by Cobinhood with two.
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Minimalist · Feb 5, 2019

Four Healthy Frictions that will Guide the Future of Security Tokens

Security tokens is a very young industry and is still trying to find its core identity. The early days of any groundbreaking technology trends are always marked by frictions between different school of thoughts that can send the market on one path or the other.
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https://hackernoon.com/four-healthy...de-the-future-of-security-tokens-2387c15affb4

guest · Feb 5, 2019

Zcash Team Reveals It Fixed a Catastrophic Coin Counterfeiting Bug
February 5, 2019
https://www.coindesk.com/zcash-team-reveals-it-fixed-a-catastrophic-coin-counterfeiting-bug

According to a report published Tuesday, zcash cryptographer Ariel Gabizon discovered a “subtle” bug a little less than a year ago in zk-SNARKS, the bleeding-edge cryptography the cryptocurrency uses to shield balances and user identities, which are implemented so that outsiders can’t see financial information users want kept to themselves.

Today, though, is the first time the company has revealed it to the larger public.
If exploited, an attacker would have been able to print an infinite amount of zcash tokens.

Still, the team added that they don’t think zcash was at risk of the counterfeiting bug for a number of reasons, including “discovery of the vulnerability would have required a high level of technical and cryptographic sophistication that very few people possess.”
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guest · Feb 5, 2019

Judge pauses lawsuits against cryptocurrency company Quadriga
February 5, 2019
https://www.reuters.com/article/us-...cryptocurrency-company-quadriga-idUSKCN1PU2KD

A cryptocurrency platform that lost access to millions of dollars when its founder died with sole knowledge of company passwords has been granted a temporary reprieve from creditor lawsuits.
“Despite repeated and diligent searches, I have not been able to find (the passwords) written down anywhere,” his widow Jennifer Robertson said in an affidavit.

The wallet in question was “cold,” which means it was not connected to the internet so as to prevent hacking.
Cole Diamond, CEO of Coinsquare based in Toronto, said it is unusual to hold a cold wallet under one signature.
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guest · Feb 6, 2019

Opera Android Users in Sweden, Norway and Denmark Can Now Purchase Ethereum via Browser
February 6, 2019
https://cointelegraph.com/news/oper...denmark-can-now-purchase-ethereum-via-browser

The Android version of major web browser Opera now integrates a function that lets its users purchase Ethereum (ETH) through the browser, a press release shared with Cointelegraph on Feb. 6 reveals.

According to the press release, the new service is available to users based out of Sweden, Norway and Denmark due to Opera’s new partnership with brokerage firm Safello. Safello, according to Opera, is registered with the Financial Supervisory Authority (FSA) in Sweden.
Julia Szyndzielorz, senior PR manager at Opera, told Cointelegraph in an email that Opera’s addition of ETH purchasing through its browser allows users to immediately buy the cryptocurrency online.
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ronjor · Feb 6, 2019

The plot to revive Mt. Gox and repay victims’ Bitcoin

Josh Constine @JoshConstine 06 Feb 2019
It was the Lehman Brothers of blockchain. 850,000 Bitcoin disappeared when cryptocurrency exchange Mt. Gox imploded in 2014 after a series of hacks. The incident cemented the industry’s reputation as frighteningly insecure. Now a controversial crypto celebrity named Brock Pierce is trying to get the Mt. Gox flameout’s 24,000 victims their money back and build a new company from the ashes.
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guest · Feb 7, 2019

Philippines Crypto Adoption: 10% of Filipino Adults Hold Account On The Largest Local Exchange
February 7, 2019
https://cryptopotato.com/philippine...-adults-signed-on-the-largest-local-exchange/

Crypto adoption in the Philippines is undoubtedly on the rise. Coins.ph, a leading cryptocurrency exchange in the Philippines, has recently acquired over 5 million users onto its crypto platform.
Coins.ph allow its customers to manage a myriad of online payments through its mobile app. In some cases, the platform even provides monetary rewards for utilizing its services. For example, users can load their SIM cards with credit via the app, earning a 10% rebate with every purchase.

Speaking about the company’s vision, Ron Hose, CEO and founder of Coins.ph, emphasized that the focus of the app is to allow financial inclusion to Filipinos nationwide. Its users enjoy low-cost and speedy international payments thanks to the underlying blockchain technology. Currently, the platform supports Bitcoin, Ethereum, Bitcoin Cash, and XRP.

This milestone of achieving five million users is significant due to the fact that it validates a commonly discussed use case for blockchain technology: Bringing financial services to the unbanked.
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guest · Feb 8, 2019

Someone Is Impersonating Bitcoin Futures Platfom Bakkt to Raise Money
February 7, 2019
https://www.coindesk.com/someone-is-impersonating-bitcoin-futures-platfom-bakkt-to-raise-money

On Wednesday night, the CoinDesk news team received an email (subject line: “Bakkt News!”) claiming that the platform was set to launch on March 12. The email, sent from a gmail address and written in broken English, further stated that Bakkt would be seeking to raise $50 million in a second financing round and directed readers to a website, bakktplatform.io.

There, prospective investors are invited to register by entering their name and email address. After going through this process, visitors are presented with a bitcoin address to send their money and asked to provide their own address to receive their “profits” from the investment.
No launch date
For starters, Bakkt has no official launch date right now.
In all seriousness, please don’t send funds to this platform. Investors who do are unlikely to see their bitcoin again.
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ronjor · Feb 8, 2019

A cryptocurrency company’s covert bug fix has confusing legal implications

by Mike Orcutt February 8, 2019
The Zcash episode illustrates how we’re still struggling to define basic characteristics of cryptocurrency networks.
On Tuesday, February 5, the Zcash Company, the for-profit company in charge of maintaining the cryptocurrency Zcash, made a shocking revelation: it had acted in secret to fix a software bug that would have given an attacker the means to create “fake” Zcash.
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