Thursday, October 19, 2017

The Practical Future of Blockchain

Our guest on the podcast this week is Ed Featherston, VP Principal Architect at Cloud Technology Partners. We discuss the future of Blockchain.

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Bitcoin Price Analysis: Potential Wyckoff Distribution May Spring New All-Time Highs

Bitcoin Price Analysis

A potential Wyckoff Distribution phase is under way as bitcoin continues to climb on shaky ground. Days after having a strong $1,000 climb and nearly reaching $6,000 on most exchanges, we saw a strong rejection of the upper limits of the market as it plunged $600 over the course of a few short hours. Let’s take a look at the macro pattern and draw a few similarities to the Wyckoff Distribution schemes:


Figure 1: BTC-USD, 2-Hour Candles, Potential Wyckoff Distribution Phase

In order for the current distribution phase to be reliable, there are certain milestones the market must reach. As shown above, we previously established a point of Preliminary Supply, a strong Buying Climax, a knee-jerk reaction into an Automatic Reaction low, and a weak rally that ultimately led to a Sign of Weakness that pushed us down several hundred dollars. The rebound from this low was strong and occurred on very high volume. However, over the length of the rally post-sign-of-weakness, the volume has begun to taper as the momentum indicators are showing signs of bullish exhaustion as it finds its local high at around the $5,700 values.

One of the following milestones for the Wyckoff Distribution phase is one last dip as it tests the previous support around the Automatic Reaction low. As of the the time of this article, the current market trend is showing signs of bearish divergence on the 120-minute candles.  Zooming in closer, we can see clear signs of a potential small reversal:


Figure 2: BTC-USD, 30-Minute Candles, Waning Momentum

Both the RSI and MACD are showing signs of bullish exhaustion throughout the length of this rally. Any pullback will likely be supported by the Automatic Reaction support level. Historically, this has been a strong point of support and is made more evident on the 60-minute time frame:


Figure 3: BTC-USD, 60-Minute Candles, Strong Support Zone

The 200 EMA on the 1-hour candles is historically a great support level and provides traders a pulse on the market health. As of the time of this article, the 200 EMA is lining quite nicely with the support zone offered by the Automatic Reaction Zone. A test of these price levels would take a strong push to break and hold below. If the price continues through the Wyckoff Distribution, we can expect a test of the 200 EMA and a subsequent bounce triggering an Upthrust to new all-time highs. As mentioned in the last BTC-USD market analysis, we are trending along a macro channel:


Figure 4: BTC-USD, 1-Day Candles, Macro Ascending Channel

An Upthrust in this potential Distribution Phase would have a price target testing the upper channel in the $6,200–$6,300 price range.


  1. A potential Wyckoff Distribution Phase is playing out.

  2. If the Distribution Phase plays as expected, we will see a test of the 200 EMA and a subsequent spring to new all-time highs.

  3. If an Upthrust to new all-time highs occurs, we can expect a price target in the $6,200s.

Trading and investing in digital assets like bitcoin, bitcoin cash and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.

The post Bitcoin Price Analysis: Potential Wyckoff Distribution May Spring New All-Time Highs appeared first on Bitcoin Magazine.

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Tezos Founders Enter Legal Battle for Control of $400m in Raised ICO Funds

Tezos Founders Enter Legal Battle for Control of $400m in Raised Funds

Founded by husband and wife, Kathleen and Arthur Breitman, Tezos is a decentralized platform that hosts smart contracts that seeks to compete with ethereum. Tezos’ initial coin offering (ICO) did not have a cap on investment and raised approximately $232 million – at the time comprising the largest ICO crowdsale to date. The 65,703 bitcoins (BTC) and 361,122 ETH raised by the company is now worth more than $400 million USD.

Also Read: Russian Regulators Consider Establishing a ‘Crypto-Detective Agency’

The Breitmans Are Reported to Be Attempting to Attain Greater Control Over Tezos’ Finances

The Breitmans Are Reported to Be Attempting to Attain Greater Control Over Tezos' FinancesThe Breitman couple has become embroiled in a legal dispute with Johan Gevers – the president of a Swiss foundation that was set up by the Breitman’s and an independent body that would manage the funds raised through the ICO. Both parties accuse one another of having a conflict of interest which render them unsuitable for managing the funds. It has been reported that the Breitmans are now seeking to create a new foundation, which, if they are successful, will allow the Breitmans to exercise greater control over the management of Tezos’ funds.

Reuters has reported that an attorney representing the Breitmans sent a letter to the two other members of Tezos’ board threatening that if Gevers is not removed from his position then the Breitmans will then remove their support for the project. The letter accuses Geevers of “self-dealing, self-promotion and conflicts of interest.” According to Reuters, Geevers has been asked to “step aside for a month” while the board investigates the matter further. Gevers described the Breitmans’ actions as “attempted character assassination,” and referred to the accusations laid against him as “a long laundry list of misleading statements and outright lies.”

There Is Currently No Date Set for the Launch of the Tezos Network

Tezos Founders Enter Legal Battle for Control of $400m in Raised FundsGevers alleges that the Breitmans have been attempting to bypass the legal structure in order to exert control over operations, with Gevers’ lawyer describing the Breitmans’ involvement in Gevers’ work as having been “incompatible with the needed independence of the foundation.” Gevers blames delays in the development and release of the Tezos network on the Breitmans’ actions, stating that “they’re unnecessarily putting the project at risk.”

Reuters reports that the Breitmans have contacted the publication regarding the dispute, stating that they have acted “in accordance with all applicable laws and regulations,” and that their priority “remains the successful launch of the Tezos network.” In an interview quoted by the Wall Street Journal, Kathleen Breitman stated “we made a lot of mistakes. The best I can do is put my head down and work on the code.”

What do you make of the legal dispute between the Breitmans and Gevers regarding the management of Tezos’ finances? Share your thoughts in the comments section below!

Images courtesy of Shutterstock, Tezos

Want to create your own secure cold storage paper wallet? Check our tools section.

The post Tezos Founders Enter Legal Battle for Control of $400m in Raised ICO Funds appeared first on Bitcoin News.

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A Look at Five Different Cryptocurrency Hardware Wallets and Prices

A Look at Five Different Cryptocurrency Hardware Wallets and Prices

As bitcoin and alternative digital currencies grow more valuable, the demand for  hardware wallets has grown significantly. Currently, there are a lot more options than when the first bitcoin hardware wallets came out and a lot more features. Here’s a look at some of the most popular cryptocurrency physical storage devices out on the market today.

Also read: and Unocoin Announce Fork Arrangements

Hardware Wallet Advantages

A cryptocurrency hardware wallet is a physical device that stores private keys in a protected area within the device. People appreciate hardware wallets because they act similarly to a paper wallet but are far more functional for spending and receiving purposes. To date, there really hasn’t been any major incidents of large-scale hardware wallet vulnerabilities or verifiable incidents of funds stolen by hackers. Hardware wallets are also resistant to viruses, and private keys cannot be removed from these devices in plaintext. Although no method is 100 percent secure, Bitcoiners believe there are many significant advantages of using a hardware wallet, and there’s a bunch of devices to choose from on the market.

Ledger Wallet

The well-known brand Ledger Wallet has one product currently available for customers; which is the Ledger Nano S. The firm is releasing a product called the Ledger Blue, but the device is only available for pre-order at the moment. The Nano S is a reputable hardware wallet with lots of good reviews on the web since it was created. The device holds crypto-assets like bitcoin, ripple, ethereum, bitcoin cash, and others. When using the Nano, a user tethers a wallet to a Chrome plugin, and the device connects with a standard micro-USB connection. The Nano embeds an OLED display for users on the device for PIN verification, seed restoration, sending confirmations, and more use the physical wallet’s buttons located on the side.

A Look at Five Different Cryptocurrency Hardware Wallets and Prices

Ledger says shipping takes about two weeks, and most people would agree you should purchase the wallet from the company but the wallet is also sold by third-party retailers like Amazon. One of the biggest security risks for hardware wallets is a compromised shipping process, but people still order from third parties as prices can be cheaper. Purchasing the Nano S through ledger the price is $69 USD or 0.123 BTC at the time of writing.

Trezor Wallet

Trezor is also a popular hardware wallet brand created by the company Satoshi Labs. The wallet offers private key storage for bitcoin, altcoins, and ERC-20 tokens as well. The Trezor wallet also can perform 2FA functions, act as a password manager, and offers document signing and encryption with GPG. Trezor has been around for years, and the device also has a solid reputation in the review department.

A Look at Five Different Cryptocurrency Hardware Wallets and Prices

The hardware wallet also uses its physical screen and two buttons for PIN verification, sending confirmations, and firmware updates. Trezor connects with a micro-USB connector and has a solid plastic case. Right now Trezor says a new device can be shipped in 1-2 business days with priority shipping. Without shipping fees, the device costs around $106 or the bitcoin price equivalent. Further, the company will be releasing the second version of its device called the Trezor 2, so some enthusiasts may want to wait for that release.


Keepkey is a hardware wallet manufacturer owned by the cryptocurrency startup Shapeshift. The Keepkey is bigger than the Ledger or Trezor and offers an anodized aluminum case. Like the others, it offers a micro-USB connection, and a 3.12″ OLED screen display for verification and confirmation procedures. One unique option Keepkey offers is its ability to connect with the Shapeshift exchange in a more secure fashion. Keepkey also stores private keys for multiple cryptocurrencies, and users can create custom firmware on the device as well.

A Look at Five Different Cryptocurrency Hardware Wallets and Prices

Keepkey hasn’t been around as long as Trezor or Ledger but has maintained a solid reputation and the product has decent reviews. The device costs $129 using bitcoin, Paypal, or credit card and can be shipped out either standard mail (3-9 business days an extra $15) or priority shipping (Fedex 2 Day an additional $47.98).     

Digital Bitbox

The hardware wallet Digital Bitbox is a new product created by the Swiss-based company, Shift Devices AG. The Bitbox is smaller than all of the hardware wallets available on the market as it connects directly to a computer with a USB connection. Additionally, the device comes with a recovery micro SD card, and it can store keys for multiple digital assets as well. One interesting feature Bitbox has is the ability to process “out-of-the-box” multi-signature sending features. Bitbox, however, does not have a screen like the other devices and doesn’t have many physical interface procedures.

A Look at Five Different Cryptocurrency Hardware Wallets and Prices

When we first reported on the Digital Bitbox, the shop was closed due to high demand, but currently, the Bitbox shop is now open. The Bitbox costs around $54 but requires an extra $30 for Fedex Priority Express unless you are a Swiss resident. As we mentioned the device is a fairly new hardware wallet on the market, and there are only a few reviews online.


Bitlox is another relatively new hardware wallet product manufactured by the Hong Kong-based company Bitlox Limited. Bitlox is bigger than most hardware wallets being roughly the same size as the Keepkey but offers three different types of wallets. Users can choose from the Advanced ($98), the Ultimate ($148), and the Extreme Privacy set ($198). Bitlox can be connected with a standard USB, and the wallet offers BIP32 and BIP39 seed phrases. The device also has a display screen and multiple buttons on the device’s face.

A Look at Five Different Cryptocurrency Hardware Wallets and Prices

One unique offering from the Bitlox product is its Bluetooth functionality which can tie it to a mobile phone. Bitlox doesn’t have many reviews online detailing whether or not customers enjoy the product. Although there are a couple Youtube videos and written Bitlox reviews. Those who want to purchase the Bitlox must also use the International Courier Express option which is extra $26. Customers can buy the device with either bitcoin or Paypal and it can be shipped worldwide.    

Peace of Mind

Hardware wallets continue to grow in popularity as cryptocurrency adoption grows more fervent. These devices are considered a reliable investment because, in the long run, they can prevent theft from malicious actors online and peace of mind that your cryptocurrencies are safe. As the digital asset phenomenon continues, its likely more improvements will be made to these devices, and more manufacturers may come out of the woodwork.

What do you think about these hardware wallets? Do you own any of these brands? Let us know what you think and your experiences with these products in the comments below.

Disclaimer: does not endorse these products/services.
Readers should do their own due diligence before taking any actions related to the mentioned companies or any of its affiliates or services. is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Images via Shutterstock, Bitlox, Digital Bitbox, Trezor, Ledger, and Keepkey. 

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The post A Look at Five Different Cryptocurrency Hardware Wallets and Prices appeared first on Bitcoin News.

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BitcoinTV: by BitcoinMeister on YouTube

The 1 Bitcoin Show- The official Bgold interview!
Today's 1 topic is Bgold! The PR/marketing guy who represents Bgold will be on the show and audience questions will be answered if all goes well. Bring on the friend Bitcoin fork! Thanks Alejandro Regojo! Bgold official site- Bgold Twitter- Bgold Poll- First show from Thursday- Wednesday's show- Monday's show- Sunday show- Early show from Sunday outside!- Saturday's show- Show from the pool- Bitcoin people you need to know- Broke the Bgold story here- Birth of the Crypto-dividend- Email the Disrupt Meister intern- and tell us why you want to be an intern! -------------------------------------------------------------------------------------- CryptoHWwallet affiliate link- "MeisterFreeHW1Over200" This is the coupon that is for people who spends over $200 (exclude shipping) to get a free H.W1. Ledger hardware wallet. Limit 10 pcs only coupon use at first, first come first serve basis only. 1 per customer for up to 10 uses. "cryptoHWwalletTee" free Tshirt with no purchase necessary. buyers need to add the tshirt into the shopping cart, Apply coupon, it'll deduct $7.99 from total which leaves $5.00 to be paid for Shipping Shirts could run out so there might be shipping delays. . There are total 6 crptocurrencies. Bitcoin, Dash, Litecoin, Ethereum, Zcash and Monero. BUY Cryptograffiti shirts here and use the "Meister" discount code to get 10% off anything in the store! UPVOTE THIS- Buy your Bitcoin Trezor storage device here: Buy Bitcoin at Coinbase here: CryptoHWwallet affiliate link- Adam's Twitter- Adam's Minds- Support the cause if you like what I have to say: BTC: 3HZngc6ASzt3deDm582u8xJRFAwmz7YTwG ETC: 0xb28CD007E0495b34BA6030859030322b7bE8422B Monero: 47MnZvoKVeZL4xhczW3t7zTnHQhJ3wkJ2Yxgyh2iWKTDhqrvdxjg41xZXrJhzn4yXxGVCJyNBroxK738rHKfGPWkQRQ2jj1 LTC: LQm55H4oUCoVPiBd25A4v2jHXLtC9oo9Jg ETH: 0x0feb7bCd89C4Ea0c14FC7D94b9afBDE993034AD5 DASH: Xjcpo8Lh6NKQoV3F12pGpXUiK4XRoQyudN Decred: Dsoq2ZPcqQDj5TSBLMAFX2SxCMHaYFnDty4 I ACCEPT EVERY ALTCOIN! This video explains what to do to get me to list, talk about, and create a payment address for your favorite Altcoin: Very Important Bitcoin and Altcoin storage video you need to watch- My latest Steemit post: My Steemit page: Value of every cryptocurrency- Watch more of my Bitcoin videos here: Adam Meister is available for an hour long Bitcoin/cryptocurrency consultation where he can walk you through the Trezor installation process and help you move your Bitcoins to the Trezor. He will answer all your questions in that hour. Trezor is just one Bitcoin topic that Adam can help you with, you can ask his advice on anything cryptocurrency related. From marketing and promotion to Altcoins to storage and the buy and hold philosophy. Adam's hourly rate is 0.11 Bitcoin. Feel free to email: Adam AT TrezorHelp DOT com to set up a Skype/phone consultation or to arrange an in person appearance or speaking engagement. Adam is available to speak at conferences around the world. Follow Adam on Twitter here: Buy your Bitcoin Trezor storage device here:

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This Blockchain-Powered Platform Aims to Disrupt the Esport Gambling Industry

This Blockchain-Powered Platform Aims to Disrupt the Esport Gambling Industry

Esports wagering is a large — and growing — global industry at the intersection between gambling, technology and entertainment. In their 2017 Global Esports Markets Report, Newzoo found that China and North America will generate $362 million during 2017, or 52 percent of global esports industry's revenue. If the esports industry continues on the same growth trajectory, the global industry is expected to generate $1.4 billion in 2020.

Unikrn’s blockchain-powered platform is tapping into this growth industry, offering services such as “skill and spectator betting applications, a tournament series, team ownership, a casino group and multimedia content for the esports fanbase.”

Along with launching an initial coin offering (ICO) in mid-September, the company has expanded its offerings to the European Union through a joint venture with RBP, a key player in the online horserace and sports betting market, and plans to launch a new skills-based product.

Expanding across the European Union comes after the platform was granted a much coveted gaming license from the Malta Gaming Authority (MGA). As one of the first European Territories to regulate online gambling, Malta has reportedly become a staunch regulatory supporter over the past several years. Today, over 100 companies currently hold a license issued by the MGA including software developers, online casinos and Remote iGaming operators.

Though obtaining a gaming license from the MGA took more than a year, for Unikrn, it has provided an opportunity to enhance their reputation as a legitimate esports wagering platform; something critical for their successful expansion and token sale. “They [MGA] are by every measure the gold standard and one of of the most respected authorities for responsible and ethical wagering,” said Unikrn founder and CEO Rahul Sood in a statement.

After creating the VoodooPC in 1991 then selling it to Hewlett-Packard, Sood spent 18 years as an entrepreneur. Next, he joined as general manager of Microsoft Ventures, Microsoft’s international startup accelerator and outreach program. Sood left Microsoft in 2014 to enter the world of live immersive esports betting by co-founding Unikrn.

Why Blockchain?

During its Series A round, Unikrn received funding from several notable investors including Mark Cuban, owner of the Dallas Mavericks, actor Ashton Kutcher’s venture firm, Sound Ventures, media executive Elisabeth Murdoch’s venture fund Freelands Ventures, media executive Shari Redstone’s Advancit Capital and the largest betting company in Australia, Tabcorp. The commonality between most of these venture funds is that they typically pick portfolio companies working in a mix of media, technology and entertainment.

Anthony Di Iorio, serial entrepreneur and CEO of Decentral, joined UnikoinGold as an advisory team member because he finds the project both intriguing and well-supported.

I'm a big believer in the power of decentralized technologies, like blockchains, to empower entrepreneurs and individuals,” he told Bitcoin Magazine. “I'm motivated to support the entrepreneurs, the projects, and the communities that are pushing that technology forward by applying it in interesting and exciting ways to existing markets. Unikrn is a bit special.”

Unikrn’s Editor-in-Chief of content, Ryan Jurado, describes the platform’s journey toward the blockchain as a tool for product and community growth. In 2015, Unikrn released Unikoin, a free, internal, non-cryptographic token issued in 2014 that gives users the ability to bet on esports and win prizes in regulated markets where Unikrn is unlicensed to operate. However, Unikoin had no secondary market and customers persistently asked for more value or uses for the token.

Jurado explained that idea for Unikrn to use blockchain technology first came from Mark Cuban in early 2016. After investigating the technology, the team found using a blockchain-based currency would improve compliance and accountability, two activities paramount in bookkeeping.

“The distributed ledger makes Know Your Customer (KYC) and risk management easier and less costly,” Jurado said to Bitcoin Magazine. “It saves time and money used for converting currencies, and helps minimize engagement with banks.”

Along with a distributed ledger model, Jurado also pointed out that the blockchain “expands real-time betting, live betting and skill-based products that would be difficult, or impossible, using fiat currency.”

The blockchain’s ability to increase transaction options while decreasing the need for transactional trust was another value Unikrn sought, Jurado explained, resulting in “an Ethereum-based token with an open ledger that can be used to better rate risk and flag potential abuse.”

A gaming platform such as Unikrn which runs vast numbers of transactions per day manages a lot of risk benefits from “an Ethereum-based token with an open ledger that can be used to better rate risk and flag potential abuse.” Furthermore, as Jurado pointed out, “For users, it’s a home-run: Using blockchain is less expensive than using fiat, and less overhead means less expensive products.”

Tale of Two Koins

To run the token sale and crypto platform, Unikrn opened a subsidiary, Unikrn Bermuda Ltd. The token that Jurado hopes will become “the decentralized token of esports and gaming” is called UnikoinGold (UKG) and was made available in September.

Di Iorio described UnikoinGold as “the (decentralized) beating heart of the secure and seamless wagering ecosystem Unikrn has pioneered.”

As for the original non-cryptographic token, Unikoin, Sood has stated that Unikrn is undergoing a “forking” of their token system in which there will be two currencies: UnikoinGold and UnikoinSilver.

Anybody in the world can buy and use the Ethereum-based UnikoinGold utility token in non-betting applications, including jackpots and experiences, software, hardware, esports, teams and tournaments; however, only users in Unikrn-licensed regions will be able to use it to bet.

Though UnikoinSilver can only be earned, it can be used in most unregulated markets around the world. “The token will allow every non-minor esports and gaming fan to engage in all Unikrn betting products, regardless of where they live. It is a free, non-blockchain token, but will allow fans to unlock real prizes and non-betting operations including editorial, production studios, tournament organization and live broadcasting.” UnikoinSilver also appears to be an alternative “to unregulated skin betting for regions where real-money betting can’t be offered.”

ESPN Meets Esports Meets Vegas

Having already raised $30 million in ether, the UnikoinGold token sale is capped at $100 million. One advantage it has as a token sale is the ease of onboarding users who are already familiar with token transactions. Unikrn’s other advantages come from the fact that they already have an existing platform that is profitable and an online community that is engaged. “This isn’t an investment,” said Sood in a Medium post, “It’s a purchase for a product that we developed that has utility on our platform and our users love and demand.”

A clear caveat to UnikoinGold’s success is that its gaming/ICO combination is sure to keep them visible on every regulator’s radar, which is why earning a Maltese gaming license was such a significant step.

Even at such a unique intersection between media, gambling and gaming, Unikrn is not the only player. Other esports betting platforms using blockchain technology include, Eloplay, and Skincoin. And it has yet to crack the lists of top esport betting platforms on sites like OpenOdds and EsportsOnly.

Sood does not seem surprised by his company’s success, thus far. “UnikoinGold was designed and intended for use by our own esports community. It’s like ESPN meets Esports meets Las Vegas.”

The post This Blockchain-Powered Platform Aims to Disrupt the Esport Gambling Industry appeared first on Bitcoin Magazine.

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What Lightning Will Look Like: Lightning Labs Has Announced Its User Interface Wallet

Development of the lightning network, the lightning networkthe highly-anticipated second-layer Bitcoin protocol for instant microtransactions, continues to inch forward.

Lightning Labs, major contributor to the lightning network daemon, lnd, announced its cross-platform Lightning Desktop App last week. The open-source lightning wallet is essentially a user interface (UI) built on top of lnd and powered by Lightning Labs’ new open-source Bitcoin light client, Neutrino.

“This is the first functioning user interface for both sending and receiving lightning transactions with a light client mode,” Lightning Labs CEO Elizabeth Stark told Bitcoin Magazine.

The lightning network is currently being developed by several teams working on different but interoperable implementations of the protocol. Several of these implementations are functional, though only on Bitcoin’s test network (“testnet”): a sort of copy of the Bitcoin network with valueless coins specifically designed for testing new applications and more.

But, while there are already several lightning daemons available for testnet, most are only usable via command line tools. Developers Olaoluwa Osuntokun, Bryan Vu and Case Sandberg collaborated to now extend lnd with the new Lightning Desktop App to provide a user interface.

“I think the big takeaway is being able to visualize this technology and see what an early UI might look like,” said Stark. “It's one thing to be using the command line, as our lnd testers and developers have been, but it's another to be able to download the app. Being able to see this kind of progress is important.”

As part of the announcement, Lightning Labs also introduced Neutrino, the new open-source Bitcoin implementation that powers the Lightning Desktop App. As a main benefit, Neutrino users don’t need to download the entire Bitcoin blockchain, which is currently over 140 gigabytes in size. This makes the desktop app much more accessible to regular users who transact small amounts, for which the lightning network is particularly suited. And because Neutrino uses a new method of transaction filtering (client side instead of bloom filters), it offers more privacy than most light clients, too.

The release of the new Lightning Desktop App kicks off a two-week “testing blitz,” as the company described it in their accompanying blog post. Developers are invited to experiment with the desktop app itself, as well as with Neutrino. Further, it makes it much easier for anyone to play around with lnd and the lightning network itself.

“The really cool thing about having our desktop app out there is now there's an easy way for people to interact with all of the apps that developers are building on Lightning, such as Yalls,” said Stark.

After the two-week testing period, the implementation will enter a regular release cycle. Releasing the wallet for Bitcoin mainnet, however, could take a while longer still, Stark explained:

“We're working toward testing and making the software more stable before releasing a beta. This is financial software and its a protocol dealing with money, so we want to ensure people can have a good user experience.”

There is no specific deadline for the beta release, but Stark added that, "The next step is for us to gather feedback from testers and develop it further, along with improvements in lnd and Neutrino."

The open-source Lightning Desktop App code is available on GitHub.

The post What Lightning Will Look Like: Lightning Labs Has Announced Its User Interface Wallet appeared first on Bitcoin Magazine.

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This week two more exchanges revealed their plans for the upcoming Segwit2x fork this November. The London-based exchange explains that whether the company supports the split or not customers will receive split tokens if the fork takes place. Further, the Indian exchange Unocoin has revealed it will be supporting the chain with the most “mining/community” support.

Also read: Bitfinex Launches Segwit2x ‘Chain Split Tokens

The Trading Platform Closely Observes the Ongoing Transformations and Considers the Measures Taken Under Emerging Conditions and Unocoin Announce Fork ArrangementsThe exchange revealed its position towards the Segwit2x fork on Tuesday, October 17. The trading platform’s official statement details that there has been a lot of rumors and concerns about this particular fork. With all that aside, believes the security of customer funds should never be at risk “no matter how the market evolves.”

“As for now, we are still closely observing the ongoing transformations and considering the measures to take under the emerging conditions — While tracking the further development of the situation, we will take action to secure the profit and ensure the safety of our existing and future customers,” explains’s Helga Danova. “Currently, our team works on the technical side of every expected outcome, including the rejection of the protocol change.”

Whether we support the split or not, add new pairs for trade or not, our existing customers will receive new coins if Segwit2x hard fork happens. We will inform you later about the payout details and the time when additional options will be available on

Unocoin: ‘Only Tokens From the Majority Chain Will Be Supported After a Successful Split’

Two More Bitcoin Trading Platforms Announce Fork ArrangementsFollowing the announcement, the well-known bitcoin exchange based in India, Unocoin, also disclosed its Segwit2x contingency plan. First and foremost Unocoin says there is no action required from customers in regard to the upcoming event of fork or split. Additionally, the trading platform will only support the chain that captures a majority of “mining/community support,” in order to utilize trading with INR.         

“All our customers holding any amount of bitcoin in their Unocoin wallet before the event of the fork would be entitled to an equivalent amount of coins on both the chains after the split — There is no action required from customers in this regard either before or during the fork as long as the replay protection is available,” explains Unocoin’s announcement.

However, only tokens from the majority chain would be supported for further trading on the Unocoin platform after the successful split — On determining the stability of each chain after the fork, users will be encouraged to submit their addresses to redeem their coin balance on the minority chain starting within two weeks after the split.

Both Unocoin and join the growing list of exchanges who are announcing contingency plans for the Segwit2x fork. The trading platforms both say they will update their customers with a more definitive fork timeline down the road. Over the past two weeks, businesses have also had contrasting differences to how they will handle this particular fork. It will be particularly interesting to see how the entire industry cumulatively deals with the Segwit2x event as it unfolds.

What do you think about and Unocoin’s statements about the upcoming fork? Let us know what you think in the comments below.

Images via Shutterstock,,, and Unocoin. 

At all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published.

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Calvin Ayre Declares Bitcoin Cash “The Only Bitcoin”

Calvin Ayre Declares Bitcoin Cash "The Only Bitcoin"

In a statement addressing the upcoming the bitcoin (BTC) fork that is scheduled for mid-November, Calvin Ayre has stated it’s belief that Bitcoin Cash [Bitcoin (BCC)] is “the only bitcoin.”

Also Read: Fork Debate Drops to New Low, Outspoken Developer Lopp’s Home Surrounded by Police

“When We Say Bitcoin, We Mean Bitcoin Cash”

Calvin Ayre Declares Bitcoin Cash "The Only Bitcoin"

With the number of chains forked from the original bitcoin blockchain expected to increase, a number of companies and media organizations are seeking to provide clarification regarding the specific nomenclature referring to each chain.

Calvinayre has issued a statement clarifying that when using the term ‘bitcoin’, the website will be referring to the bitcoin (BCC) chain. The statement expresses Calvinayre’s belief that “bitcoin cash is the true remaining bitcoin as intended by the original Satoshi white paper. The release states that although “the Segwit chain may have inherited the name “BTC” largely due to history but it is bitcoin cash that much more closely resembles the bitcoin that sparked the entire digital currency boom.”

Calvinayre states that it will refer to the respective bitcoin chains as “Segwit1x (currently BTC, and likely SW1 after the Segwit2x split), Segwit2x (planned BTC, but likely SW2 after the fork if it fails to achieve majority miner support), and Segwit Gold (SWG).”

Calvinayre Describes the Distinct Bitcoin Chains As “Relatives Sharing a Common Ancestor”

Calvin Ayre Declares Bitcoin Cash "The Only Bitcoin"

The release states that “cryptocurrency was created to solve the problems brought by traditional banking. For the online gambling industry, the appeal lies in its promise to cut out the middlemen, along with their outrageous fees, and help secure transactions with the distributed ledger system.” As such, Calvinayre advocates that “the entire gambling industry… move across to [bitcoin (BCC)].”

Calvinayre advances that the comparatively high fees associated with bitcoin (BTC) compromise the fundamental utility of bitcoin, and deter non-speculative user adoption.

“We define an electronic coin as a chain of digital signatures” – Satoshi Nakamoto, Bitcoin Whitepaper

Calvinayre’s website describes bitcoin (BTC)’s segregated witness protocol as defining “a new transaction type… that removes the digital signatures from the transaction and places them in a separate data structure.” By contrast, bitcoin (BCC) is described as having “increased the capacity limit of each block… and preserved a version of bitcoin with digital signatures intact.” It is largely on the basis of preserving digital signatures that Calvinayre argues bitcoin cash (BCC) is the chain that most resembles the original vision as laid out in the bitcoin whitepaper.

Which chain do think is most deserving of the title ‘bitcoin’? Share your thoughts in the comments section below!

Images courtesy of Shutterstock,

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The post Calvin Ayre Declares Bitcoin Cash “The Only Bitcoin” appeared first on Bitcoin News.

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Bitcoin Cash Developers Propose New Address Format

Bitcoin Cash Developers Propose a New Address Format

This week the lead Bitcoin ABC developer, Amaury Séchet, proposed to add a Bech32 address format to the Bitcoin Cash (BCC) network. Currently, the BCC community has been discussing modifying the bitcoin cash address format, alongside preparing to fix the protocol’s Emergency Difficulty Adjustment (EDA).

Also read: Meet the New Bitcoin Cash P2P Exchange

The Bitcoin Cash Community and Developers Propose Changing the Protocol’s Address Format

Bitcoin Cash Developers Propose a New Address FormatOn October 14, Amaury Séchet proposed to implement a new address format to the bitcoin cash network. The subject of changing the BCC address format has been debated for a few months now, but even more so after Bitpay released a new address format for the company’s BCC integration in its Copay wallet. The discussion initially started on the Bitcoin ABC Github repository back in July. A few weeks ago Bitpay stated it had created “new conventions to ensure users don’t accidentally send BTC to a BCC wallet or vice versa.” However, Bitpay’s new address format wasn’t received well by the BCC community and developers.

Electron Cash Wallet Developer Weighs In

Bitcoin Cash Developers Propose a New Address FormatFor instance, the Electron Cash wallet developer, Jonald Fyookball, detailed on the Yours network, that “Bitpay’s new bitcoin cash address format breaks wallet compatibility and requires community discussion.” Fyookball explains he’s a “fan of Bitpay,” but he believes releasing a new format without community discussion creates issues. The “main problem” Fyookball details, is that unless every single BCC user within the entire community upgrades to this new software there will be address “incompatibility between the new (Bitpay format) and the existing format for addresses.”   

“Newer wallets theoretically should still be able to support sending to old addresses unless those wallets intentionally stop supporting legacy addresses,” Fyookball explains. “But actually, it appears that Bitpay has done just that on their own platform.”

This may be a matter of design choice if the idea is to prevent a user from sending to a BTC address — Yet, since many users still use old addresses, it breaks backwards compatibility.

Amaury Séchet Favors the Bech 32 Address Format

Bitcoin Cash Developers Propose a New Address FormatThe community believes it is essential for bitcoin cash addresses to be distinguished from bitcoin addresses, but think Bitpay’s method may not be the best answer. Bitcoin ABC’s Amaury Séchet explains on the team’s developer mailing list that maybe BCC programmers “have been moving too slowly and that is why Bitpay has gone ahead.” But Séchet also says he thinks they should have discussed the move as address upgrades can be “disruptive.” Séchet also revealed at the time he is in favor of Bech 32 address styles, a proposal first introduced by bitcoin developer Pieter Wuille.         

“At this point, I am in favor of the Bech 32 style addresses as they have a number of advantages — The most notable one, is that the format can be extended to support new features in the future,” Séchet’s developer mailing list post details. “The current address format or the variation proposed by Bitpay doesn’t, which means we’ll likely have to change it again in the future.”

As a result, I think we should adopt an extensible address format rather than doing a quick fix that makes us feel better now but fails to anticipate needs down the road — We are in this for the long run.

Lots of Bitcoin Cash Proposals and Ideas Being Tossed Around

The Github proposal pushed forward by Séchet seems to be favored by other developers who assist with the BCC protocol. One reviewer writes, “very elegant proposal, I like it,” and the pull request was also sent to the Bitpay/Copay code repository. The developer who recommends the address format changes to Bitpay asks, “Would you remove your new address format starting with C and add the Bech32 format (described here: Bitcoin-UAHF/spec#21) if some wallets start using it? It is more useful.”  

Bitcoin Cash development and infrastructure seems to be moving along with the recent EDA proposals and the latest address format idea. Further, the community has been greeted by another plan to create color coins on the BCC network. Bitcoin Unlimited developer, Andrew Stone recently proposed bitcoin cash scripting applications on October 16, in order to issue representative tokens on the network. 

What do you think about the proposal to change the bitcoin cash address format? Which development proposal do you think should be a priority right now for the BCH chain? Let us know what you think in the comments below.

Images via Shutterstock,, Electron Cash, and

At all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published.

The post Bitcoin Cash Developers Propose New Address Format appeared first on Bitcoin News.

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Kazakhstan Set to Launch National Cryptocurrency Backed by Fiat

Kazakhstan Set to Launch National Cryptocurrency Backed by Fiat

Kazakhstan’s Astana International Financial Center (AIFC) and Exante have announced a partnership regarding the development of a national cryptocurrency. The Kazakhstan government intends to launch a state-issued cryptocurrency that is backed by fiat.

Also Read: Kazakhstan Seeks to Become Regional Hub for Cryptocurrency IndustryKazakhstan Set to Launch National Cryptocurrency Backed by Fiat

The AIFC has announced a partnership with Exante, in which the company’s ‘Stasis’ platform will be used as the foundation for Kazakhstan’s national cryptocurrency. Exante is a Malta-based investment company that that was founded in 2011.

The governor of the AIFC, Kairat Kelimbetov, has expressed the institution’s belief that “blockchain and cryptocurrencies are entering the mainstream of today’s economic reality.” Kelimbetov emphasized the AIFC’s desire to become an international frontrunner in the development and adoption of distributed ledger technology. “Astana’s leading financial regulators have already commenced their work and are laying the foundation for Kazakhstan’s fintech-ecosystem. We believe that the AIFC can become an international hub for blockchain operations and the development of the digital assets market is our key priority in the near future,” he stated.

Kazakhstan Will Host an Upcoming Expo for Blockchain and Cryptocurrency Technologies

Kazakhstan Set to Launch National Cryptocurrency Backed by Fiat

Kelimbetov recently discussed an upcoming expo that the AIFC hopes will bolster international perceptions of the fintech and distributed ledger technology industries in Kazakhstan. As reported by local media, the AIFC governor stated “we assume that the territory of the expo will become a kind of crypto valley or crypto harbor. The whole world is very interested in this. Some central banks are supporting this direction, others are looking [at cryptocurrencies] closely.”

During the discussions, Kelimbetov emphasized the AIFC’s desire to balance the fostering of innovation and adoption of cryptocurrency technology with the ensuring of financial stability. “The United States and Singapore want to equate the activities of crypto-economic with ordinary activities in the financial sphere. In Switzerland, this direction is strongly encouraged and Japan supports some cryptocurrencies as a means of payment. We want to say that in this direction AIFC will be on the ‘edge’ concerning understanding the processes that are taking place. But on the other hand, we are responsible for issues of financial stability and regulation of certain financial institutions.”

Kazakhstan Is Working to Develop Its Emerging Fintech Sector

Kazakhstan Set to Launch National Cryptocurrency Backed by Fiat

Kelimbetov stated that “the head of state has instructed making AIFC a leading expert center in the development of new financial technologies.” In order to achieve such, the AIFC is expected to soon “join a consortium of international hi-tech hubs which include leading global banks which are currently searching for appropriate solutions, including national and regional cryptocurrencies and in the field of blockchain technologies.”

Earlier this month, the AIFC signed a memorandum of cooperation with Microsoft for the establishment of the country’s Blockchain Innovation Centre – which is intended to foster innovation within the distributed ledger technology start-up space. In July, the AIFC announced that it would work in partnership with Deloitte and Waves to develop a permissive regulatory apparatus for cryptocurrency, blockchain, and fintech businesses.

Do you think that Kazakhstan will become a competitive force within the international blockchain and cryptocurrency arenas? Share your thoughts in the comments section below!

Images courtesy of Shutterstock

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Ukraine’s New Bill Treats Bitcoin as Financial Asset and Encourages Mining

Ukraine’s New Bill Treats Bitcoin as Financial Asset and Encourages Mining

Two bills to provide legal frameworks for cryptocurrencies including bitcoin have now been submitted to the Ukrainian parliament. The latest one proposes recognizing them as financial assets. It also defines cryptocurrency derivatives, as well as proposes simplifying taxation and reducing electricity tariffs for mining activities.

Also read: Putin Orders the Issue of Russia’s National Cryptocurrency – the Cryptoruble

Two Bills Submitted to Parliament

Following the first bill on cryptocurrency which was submitted on October 6, the second bill has been submitted to the Ukrainian parliament. Entitled “On the stimulation of the market of cryptocurrencies and their derivatives in Ukraine,” Bill No. 7183-1 was submitted last week.

Ukraine’s New Bill Treats Bitcoin as Financial Asset and Encourages MiningIn the new bill, the head of the Parliamentary Committee on Financial Policy and Banking, Serhiy Rybalka, proposes to recognize cryptocurrency as a “financial asset,” The Financial Club reported. “It makes no sense to reinvent the wheel and invent new rules for it. The most effective model is the adaptation of cryptocurrencies to the already existing legislation,” the publication quoted him saying. “That is why we propose to recognize cryptocurrency as a financial asset.”

Ain publication elaborated:

According to this document, state bodies are responsible for monitoring cryptocurrency exchanges. Cryptocurrency exchanges will be required to obtain a license for their activities. They have the right to open accounts in cryptocurrency both for citizens of Ukraine and for non-residents.

Taxation and Other Terms

The second draft law also calls for “reduced tariffs for electricity and the simplest taxation” in order to “stimulate the ‘extraction’ and turnover of cryptocurrencies,” The Financial Club detailed. Rybalka further “proposes not to tax cryptocurrency investments,” the publication added, noting that the bill proposes a 2% fee when cryptocurrencies are exchanged for hryvnia.

Ukraine’s New Bill Treats Bitcoin as Financial Asset and Encourages MiningIn addition, the bill calls for the National Financial Services Commission to be the primary regulator of cryptocurrencies. In the first bill, it was proposed for the National Bank of Ukraine (NBU) to act as the regulator of the crypto market.

While the second bill contains the definition of cryptocurrency derivatives, neither bill contains references to initial coin offerings (ICOs), explained Orlovsky Maxim, Head of Bitcoin Foundation Ukraine. Furthermore, the first draft law does not mention AML and KYC procedures for cryptocurrency operations, while the second one suggests for them to be determined by the central financial regulator as part of their licensing requirements, he added.

Cryptocurrencies Not Prohibited

Even though there is not yet a regulatory framework for cryptocurrencies in Ukraine, cryptocurrencies including bitcoin are not prohibited by law. The Ukrainian finance minister Oleksandr Danylyuk wrote on his Facebook page on Monday that his ministry is working with the NBU and other financial regulators to formulate the right regulation for them. He wrote:

There are many open issues and in Ukraine the status of cryptography is not defined by law, but this does not mean that cryptocurrency is prohibited. Ukraine should monitor world trends and not miss a chance to use new technologies and innovations in the financial sector.

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