There are so many benefits to using a cryptocurrency, that it would seem foolish to neglect such an invention. For example, it allows you to send money anywhere in the world in an instant, with basically no fees involved. Everyone can be included in the financial system, it will change the way we interact with money, it can prevent fraud, and much more.
Friday, June 30, 2017
Bitcoin Entry Level for Buy
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Delaware House Passes Historic Blockchain Regulation
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Craig Wright Rants Against Bitcoin Decentralization
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Blockchain
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Frankly, you should be thinking about Blockchain as the next big thing in programmatic
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APPLICATIONS ARE OPEN! Pitch at the Blockchain TECHMEETING
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UK dealer charged in US over multimillion-dollar fake Bitcoin site scam
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Ethereum and Bitcoin on track for monthly gain
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Budget Cuts in Delaware Slows Down the Bill that Will Legalize of Issuance of Blockchain Stocks
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Security Startup Taps Blockchain to Assign Unhackable Digital IDs
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Podcast 107: Alex Tapscott, Co-Author of Blockchain Revolution
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The puzzling rise of bitcoin
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Operator of Illegal Bitcoin Exchange Coin.mx Sentenced to Prison
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How a Bitcoin Whitehat Hacker Helped the FBI Catch a Murderer
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Billionaire Bitcoin Skeptic Mark Cuban Wants In On The ICO Boom
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Decent Launches Global Media Distribution Platform
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Ether Price Analysis: Bears Chasing Back a Bullish Price Rally
Following a devastating bear market last week, several major market players saw a reversal pattern called a Double Bottom Reversal. For reference, please check out the previous BTC-USD market analysis where an in-depth description of Double Bottom Reversals is outlined.
Figure 1: ETH-USD, 4HR Candles, Gemini, Double Bottom Reversal
The buy-back volume seemed very promising on the reversal pattern and it even saw textbook characteristics of a healthy bull rally. However, if we take a closer look at the market move, we can see something slightly concerning regarding the health of the bull trend. To gain some insight, let’s examine the finer points of the reversal pattern:
Figure 2: ETH-USD, 30Min Candles, Gemini, Failed 100% Retracement
The most immediately concerning aspect of this bull run is the failed test of the 100% Fibonacci Retracement. Typically, a healthy Double Bottom Reversal that leads to a prolonged bull run will test the 100% retracement value (sometimes several tests are required) and ultimately yield higher values as the volume supports market interest. However, in our case, not only did this market move see a rejection of the 100% retracement line, but it also continued a trend of decreasing volume. Decreasing volume shows the declining market interest in these high values, and it doesn’t offer much in the way of support for the bullish trend.
The second concerning element of this bull run is the retracement it is currently seeing: The market is testing the 61% Fibonacci Retracement values which coincide with a significant level of support for this run (shown in orange). At the time of this article, this run tested the support level three times and is now moving on to test the 61% value. These lower values are paired with increasing spikes in sell volume.
On the higher timescales, the MACD (an indicator of market momentum) still remains on the bullish side but is beginning to head toward bearish values. The 4-hour MACD has flipped to bearish, and the current market doesn’t show any indication in the near future of slowing its downward climb.
In order to maintain the support at the 61% value, we will need to see an increase in buy volume to stymie the slowly descending trend we are currently witnessing. In the coming hours/days, if the market fails the test of the 61% line, we can expect the following support levels:
Figure 3: ETH-USD, 30Min Candles, GDAX, Expected Support Levels Following 61% Failure
During both the previous bear run and the formation of the Double Bottom Reversal pattern, we saw levels of support/resistance at the 50% retracement values (shown in pink) and the 38% retracement values (shown in green). A further test of those values will prove crucial if the ETH-USD markets are to remain in this pseudo-bullish trend. Failure to see a significant increase in volume will undoubtedly lead to another bear market situation. Given the declining volume throughout this entire reversal, at this moment I’m inclined to lean more toward a bearish outlook in the near future. Until volume begins to pick up, the market will continue to slowly hemorrhage as market sentiment declines.
Summary:
-
Double Bottom Reversal failed the test of the 100% retracement from the previous bear trend.
-
Until a significant increase in volume is seen, the market will most likely continue this descending trend.
Trading and investing in digital assets like bitcoin 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 BTCMedia related sites do not necessarily reflect the opinion of BTCMedia 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 Ether Price Analysis: Bears Chasing Back a Bullish Price Rally appeared first on Bitcoin Magazine.
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Operator of Illegal Bitcoin Exchange Coin.mx Sentenced to Prison
Anthony Murgio, 33, of Tampa, Florida, has been sentenced to five and a half years in prison for running a Bitcoin exchange connected to hackers. The exchange was used to launder more than $10 million worth of funds, authorities reported.
Both Murgio and Yuri Lebedev, 39, of St. John’s, Florida, operated Coin.mx through a fraudulent company called “Collectables Club.” According to the U.S. Attorney’s Office for the Southern District of New York, the illegal Bitcoin exchange used the firm’s misleading name to open financial accounts at banks pretending to be a “members-only association of individuals who discussed, bought, and sold collectible items and memorabilia.” Murgio and Lebedev, along with other co-conspirators, violated bank and credit card company rules and regulations by “deliberately misidentifying and miscoding Coin.mx customers’ credit and debit card transactions.”
“Lies conceived and deployed by Murgio permeated every aspect of Coin.mx’s operation, including its use of front companies, like Collectables Club and Currency Enthusiasts, to try to conceal the illicit nature of the operation,” the Department of Justice stated in its sentencing submission.
On January 9, Murgio pled guilty to three counts regarding operating Coin.mx, which processed over $10 million worth of illegal Bitcoin transactions. Murgio ran the Bitcoin exchange between October 2013 and July 2015 for Gery Shalon, 33, an Israeli citizen who was responsible for hacking at least nine companies, including JPMorgan Chase, E-Trade Financial Corporation and Dow Jones. Coin.mx sold bitcoins that came from illegal online transactions, such as victim payments to ransomware attackers who sought to launder the cryptocurrencies clean.
“I screwed up badly and made serious mistakes and misjudgments,” Murgio said, showing remorse, to U.S. District Judge Alison J. Nathan at his sentencing.
Shalon, along with Ziv Orenstein, 42, compromised data on approximately 76 million household customers and 7 million businesses by hacking the nine companies. U.S. officials described their operation as a “diversified criminal conglomerate” responsible for the largest theft of valuable information from a U.S. bank. The compromised data included the names of customers, along with email addresses and phone numbers. Authorities collected evidence stating that Murgio exchanged cash for the bitcoins of Shalon’s criminal gang. Israeli police arrested Shalon and Orenstein in July 2015, and they were extradited to the United States in June 2016. Both are facing serious charges, including aggravated identity theft, wire fraud and money laundering.
“Mr. Murgio led an effort based on ambition and greed,” and constructed on a “pyramid of lies,” Judge Nathan said during the sentencing hearing at the Manhattan federal court.
On March 17, a Manhattan jury found Lebedev and his co-conspirator Trevon Gross, 52, of New Jersey, guilty of charges connected to a bribery scheme in an attempt to hide the illegal activities of Coin.mx from financial institutes and regulators. Both of the defendants are facing a maximum sentence of 30 years in prison. Judge Nathan scheduled the sentencing hearing of Lebedev and Gross for July 20, 2017.
Murgio’s father, Michael Murgio, 66, was also involved in the Coin.mx case. In October, the father plead guilty to “making a false statement to the National Credit Union Administration on behalf of his son.” By making a plea deal, Michael Murgio managed to avoid additional charges in the case, including “conspiracy to make corrupt payments with intent to influence an officer of a financial institution and making corrupt payments.” Judge Nathan sentenced the elder Murgio to one year of probation along with a $12,000 fine.
The FBI arrested both Lebedev and Murgio on July 23, 2015, for “running an unlicensed bitcoin exchange with the goal of helping individuals launder money.”
Despite the prosecution’s request for 10 to 12 years and seven months behind bars, the Manhattan federal court sentenced Murgio to five and a half years in prison. According to Reuters, Judge Nathan considered Murgio’s “generosity to friends and support to his family” and imposed a prison sentence half as long as the prosecutor recommended.
Judge Nathan has scheduled a hearing on September 1 to decide on the amount of fines, forfeiture and restitution Murgio has to pay to the state. The operator of the illegal Bitcoin exchange remains free on bail.
The post Operator of Illegal Bitcoin Exchange Coin.mx Sentenced to Prison appeared first on Bitcoin Magazine.
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Donate: 18EQEiQBK1X2DyDL5Y18j78iw4NuNHoLej Featuring… Tone Vays (https://twitter.com/ToneVays) Blake Anderson (https://twitter.com/bitcoinblake) Gabriel D Vine (https://twitter.com/GabrielDVine) and Thomas Hunt (https://twitter.com/MadBitcoins) THIS WEEK: ---------------------------- Bitcoin Scaling Project Segwit2x to Release New Code Today http://ift.tt/2tszYMX Ethereum's cofounder used the cryptocurrency to disprove fake news stories about his death http://ift.tt/2tdejbM Mark Cuban, who just called bitcoin a bubble, says he plans to invest in another digital coin http://ift.tt/2toyKC6 Let's Talk Segwit2X with Jimmy Song and Eric Lombrozo https://www.youtube.com/watch?v=JTCB5bRGQj0&feature=youtu.be Please Subscribe to our Youtube Channel Would you like to support The Bitcoin Group? Donate Bitcoins to: 18EQEiQBK1X2DyDL5Y18j78iw4NuNHoLej bookmark our slightly empty homepage: http://ift.tt/17Cenja Check us out on Twitter: https://twitter.com/thebitcoingroup or on Google+: http://ift.tt/1HbPPdn
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How a Bitcoin Whitehat Hacker Helped the FBI Catch a Murderer
An ethical hacker breached the database of a phony darknet website offering hitman services and leaked the data. The information from the data dump helped the FBI in their investigation of a man who murdered his wife.
In November 2016, Stephen Carl Allwine, 47, of Cottage Grove, Minnesota, killed his wife in “one of the most bizarre cases ever seen,” police officers reported. The husband tried to mask the murder as a suicide, including putting a 9 mm pistol next to Amy Allwine’s elbow. However, detectives arriving on the scene identified the case as murder and collected evidence — mostly electronic devices, such as computers — belonging to Mr. Allwine. Later on, in January, investigators arrested and charged Mr. Allwine with second-degree murder based on the forensic evaluation of the confiscated electronic equipment.
In May 2016, a hacker called “bRpsd” breached the database of a controversial hitman service offered on a darknet website. The service, “Besa Mafia,” offered a link between customers and hitmen, who could register on the site anonymously. The price for a murder ranged between $5,000 and $200,000, but clients seeking to avoid fatalities could also hire a contractor to beat up a victim for $500 or set somebody’s car on fire for $1,000.
The hacker uploaded the data dump to a public internet website. The leaked files contained user accounts, email addresses, personal messages between the Besa Mafia admin and its customers, “hit” orders and a folder named “victims,” providing additional information on the targets.
The breach highlighted the fake nature of the website, which operated only to collect money from the customers. Chris Monteiro, an independent researcher who also hacked into the site, stated the owner or owners of Besa Mafia had made at least 50 bitcoins ($127,500 based on the current value of the cryptocurrency) from the scam operation.
According to a message posted by a Besa Mafia administrator and uncovered in the dump, “[T]his website is to scam criminals of their money. We report them for 2 reasons: to stop murder, this is moral and right; to avoid being charged with conspiracy to murder or association to murder, if we get caught.”
The leak of the Besa Mafia database helped the police investigating the murder of Mrs. Allwine. As the officers analyzed her husband’s devices, they discovered the suspect had accessed the dark web as early as 2014. Furthermore, investigators identified the pseudonym Mr. Allwine used on the darknet, “dogdaygod,” which was also linked to his email, “dogdaygod@hmamail.com,” in some cases. Detectives found bitcoin addresses in the conversations between Besa Mafia and Mr. Allwine, which linked the husband directly to the “dogdaygod” pseudonym, providing authorities with necessary evidence for the case.
Eventually, law enforcement agents analyzed the data dump bRpsd leaked and discovered Mr. Allwine’s email in the list. In addition, investigators found messages between the suspect and the Besa Mafia admin. According to a criminal complaint, Mr. Allwine paid between $10,000 to $15,000 to the supposed hitman service to kill his wife. The complaint detailed how Mr. Allwine had decided to have the hitman shoot Mrs. Allwine at close range and burn down the house afterward.
However, once the funds were transferred, the Besa Mafia communicator told Mr. Allwine that “local police [have] stopped the hitman [from] driving a stolen vehicle and taken [him] to jail prior to the hit,” thus rendering him unable to complete his “service.” The complaint cited Sergeant McAlister who reported that during that time, “no one was apprehended in Minnesota and western Wisconsin in a stolen vehicle and possession of a gun.”
It is likely that the ethical hacker’s data breach had an impact on Mr. Allwine’s case; on March 24, 2017, the Washington County District Court charged him with first-degree murder. In addition, officers have gathered more evidence in the case — a drug called scopolamine was discovered at 45 times higher than the recommended level in Mrs. Allwine’s body. Investigators subsequently discovered that her husband had also ordered the substance on the dark web.
The post How a Bitcoin Whitehat Hacker Helped the FBI Catch a Murderer appeared first on Bitcoin Magazine.
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US charges British Bitcoin dealer with fraud
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US regulator files fraud charges in Bitcoin, office space investment schemes
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Former Barclays Chief Believes Blockchain and Cryptocurrencies Could Make Banks Irrelevant
Former Barclays chief executive and current UK shadow chair of the Institute for Apprenticeships, Antony Jenkins has warned that banks may become antiquated and irrelevant should they fail to embrace contemporary fintech solutions in a recent interview with CNBC.
Also Read: Barclays Want UK Government to Regulate Bitcoin
Mr. Jenkins Suggested That Emerging Financial Technologies Pose an Existential Challenge to Traditional Banks
Antony Jenkins warned that banks may become subject to creative destruction should they fail to embrace cryptocurrency technology. In a recent interview with CNBC, Mr. Jenkins suggested that adopting distributed ledger technologies could produce efficiency savings of between $80-$110 billion, and allow traditional financial institutions to be competitive with bitcoin and other emerging financial technologies.
“We’re really at the end of the beginning of what we see as a revolution driven by technology with financial service… as the technologies develop and season, they’re going to create a totally different way of doing banking and financial services,” Jenkins told CNBC at the Money 20/20 Europe conference in Copenhagen. “Now we will see the possibility… [of] banks becom[ing] irrelevant to their customers. Banks can avoid that, but they have to act now, and what they really need to do is think about innovation, but also transformation, doing something radically different.”
Mr. Jenkins’ Remarks Come as the Bank He Previously Chaired Announced It Has Met With UK Regulators Regarding Cryptocurrency
Jenkins described cryptocurrencies and other breakthrough financial technologies as just the start of a major transformation of traditional banking practices. “This is just in the footprints of what’s going to happen here. As these technologies season and develop, we can imagine total transformation of the banking system, using blockchain for example, in a world where banks don’t really exist anymore.”
Antony Jenkins’ remarks come at the same time as the bank that he previously chaired, Barclays, announced that it has been in direct communications with the UK Financial Conduct Authority with regards to developing a permissive regulatory framework for cryptocurrency businesses in the United Kingdom.
Remarks such as those from Antony Jenkins and current Barclays CEO Ashok Vaswani illustrate the recent influx of leading figures in the mainstream finance industry seeking to embrace and profit from cryptocurrency technology. Despite the enthusiasm from the finance industry, many within the cryptocurrency remain skeptical about major global financial institutions utilizing blockchain technology – arguing that such may lead to blockchain and bitcoin technology being used as a tool for greater centralization and an augmentation in the global finance industry’s profits and power.
Do you think that greater adoption of blockchain and cryptocurrency technology by banks will undermine the core vales of bitcoin? Share your thoughts in the comments section below!
Images courtesy of Shutterstock
Do you want to talk about bitcoin in a comfortable (and censorship-free) environment? Check out the Bitcoin.com Forums — all the big players in Bitcoin have posted there, and we welcome all opinions.
The post Former Barclays Chief Believes Blockchain and Cryptocurrencies Could Make Banks Irrelevant appeared first on Bitcoin News.
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Decent Launches Global Media Distribution Platform
Free and open communication has long been an essential component of a successful democracy. Unfortunately, money, power and influence over time have stifled today’s media environment adversely impacting both content producers and consumers alike.
In an effort to democratize creative content, DECENT has officially launched its blockchain-based, global media distribution platform. The name is an acronym for Decentralized Network; Encrypted & Secure; Content Distribution System; Elimination of 3rd Parties; New Way of Online Publishing; Timestamped Data Records.
Designed to bring more transparency and fairness to the media industry, DECENT allows artists to seamlessly distribute digital content for immediate payment and without hefty fees. Peer-to-peer in its orientation, consumers decide the merits of a certain piece of content posted through a Yelp-like community rating system. The content, however, cannot be censored or removed.
This blockchain initiative endeavors to disrupt the legacy world of media distribution by allowing artists more freedom and control over the ownership and distribution of their content, all without compromising on security. It represents a potential gamechanger for the massive global media and content distribution industry — one that’s estimated to grow from $1.7 trillion in 2016 to over $2 trillion in 2019.
DECENT was founded in 2016 by two friends, Matej Michalko and Matej Boda, from Slovakia. It sprouted from a shared vision that blockchain technology could fuel a coordinated system of digital content publishing and sharing throughout the world.
Funding for DECENT was fueled by an ICO campaign last summer, which raised more than 5,881 BTC, at that time valued at $4.2 million USD. There were 4,300 ICO participants in total and no other key funding partners.
Michalko recounted the journey leading up to his own personal discovery of blockchain technology and its potential uses for the content distribution space. “I’ve been extensively involved in Bitcoin since 2011, even mining it from my own laptop at the beginning. I quickly realized that the innovative technology behind Bitcoin had the potential to change the modern world.”
When Michalko started to delve further into blockchain technology, he found a seemingly endless list of use cases the new technology could support. “I became determined to use blockchain technology to create something revolutionary that would be beneficial for people on a global scale. A short time later ongoing discussions between myself and our future co-founder Matej Boda quickly led to DECENT being born.”
He says that DECENT Network is a reaction to the issues that the majority of content producers face nowadays in the entertainment and media industry. “There is too much artificial complexity and too many barriers in the industry affecting both the access to market and income of the content owners.”
DECENT’S digital model allows artists to distribute any form of content, including written, music, videos, ebooks and pictures. These distribution channels are free of third-party influence, meaning that artists can also manage their intellectual property rights and set their own pricing.
One of the innovative adaptations that distinguishes DECENT from other blockchain platforms is the network’s reputation management system. This allows content creators who share their digital work on the platform to build a lifetime reputation, based on ratings from those who purchase content on the platform. DECENT Network also allows content creators to instantly receive payment when someone downloads their content, without any middleman interference.
Michalko believes that DECENT can break the trajectory in which a majority of power is concentrated in the hands of a few players controlling the industry. “Artists, filmmakers and writers lose control over their work and depend on the mercy of the ‘big guys.’ We designed DECENT Network to do away with all that and bring more transparency and fairness to the digital content industry.”
DECENT estimates that writers, for example, lose a healthy 30–75 percent chunk of their earnings when publishing with Amazon. Similarly, musicians, through licensing agreements, lose around 30 percent when selling a track on iTunes. Blockchain technology therefore serves as a mechanism that helps writers and musicians keep more money, while connecting with their audiences directly.
Michalko says that artists will be paid for their downloaded content through DECENT’s own cryptocurrency called “DCT,” which will be launched together with DECENT Network. Other payment options, he says, will be available in the future. “Artists will no longer have to wait months before seeing a penny from their work. And at the time of launch, DECENT Network will be a completely free-of-charge service for artists.”
Michalko hopes that by 2020, DECENT Network will have become the number one worldwide media sharing platform. “We hope to bring more transparency and fairness to the digital content industry for both creators and consumers. I hope that with our launch people will realize the advantage of DECENT Network over other content distribution platforms.”
The post Decent Launches Global Media Distribution Platform appeared first on Bitcoin Magazine.
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BitcoinTV: by BitcoinMeister on YouTube
I am proud to have guests from South Africa, Chile, and the USA here to talk about what happened this week in Bitcoin and beyond. Each one has a unique story that you will not hear anywhere else. Some Steemit info, Dubai news, and so much more. Carlo ETC- https://twitter.com/IOHK_CarloVetc Sun Exchange- http://ift.tt/2iHdB1C Gabriel- http://fortgalt.com/ ETC issue- https://twitter.com/eth_classic/status/880597604559720448 Thursday's show- https://www.youtube.com/watch?v=DNlST73--fM Last Week In Bitcoin- https://www.youtube.com/watch?v=U5NAlCQrVPY Email the Disrupt Meister intern- clark@disruptmeister.com and tell us why you want to be an intern! -------------------------------------------------------------------------------------- CryptoHWwallet affiliate link- http://ift.tt/2pynGy4 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. "MeisterFreeTShirtNoPurchaseNeeded" 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! http://ift.tt/1SYvsdA : UPVOTE THIS- http://ift.tt/2sVYXqu Buy your Bitcoin Trezor storage device here: http://ift.tt/2l8wT08 Buy Bitcoin at Coinbase here: http://ift.tt/2frK5re CryptoHWwallet affiliate link- http://ift.tt/2pynGy4 Adam's Twitter- https://twitter.com/TechBalt Adam's Minds- http://ift.tt/2r6vSJk Support the cause if you like what I have to say: BTC: 124ZqLGRePVx4P6YSDLnzjETZ1ByFsDTfb ETC: 0x36ab30f3ef5165e29b5fcefbc06511004c16ed31 Monero: 47MnZvoKVeZL4xhczW3t7zTnHQhJ3wkJ2Yxgyh2iWKTDhqrvdxjg41xZXrJhzn4yXxGVCJyNBroxK738rHKfGPWkQRQ2jj1 LTC: LaFAfLv9XoadM3kPDpMoPKcxHWYQop8uSs ETH: 0x7386dbca3e8da787cc39190802fcba85a07ea5a9 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: https://www.youtube.com/watch?v=VD9GOslS4zg Very Important Bitcoin and Altcoin storage video you need to watch- https://www.youtube.com/watch?v=aulSblKDeIU My latest Steemit post: http://ift.tt/2tNHqzb My Steemit page: http://ift.tt/2eAQkeJ https://www.youtube.com/c/BitcoinMeister http://ift.tt/2fIBPWR Value of every cryptocurrency- http://ift.tt/1oKjfXP Watch more of my Bitcoin videos here: https://www.youtube.com/playlist?list=PLLgyAakZPtCVQKl6naVHUfOiICFG8BYMp 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 0.15 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: https://twitter.com/TechBalt Buy your Bitcoin Trezor storage device here: http://ift.tt/2l8wT08
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XinFin.Org Blockchain Releases Business White Paper Showcasing IoT Enabled Real World Connectivity
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
XinFin.org which opened it’s Pre ICO sale 3 weeks ago is entering into it’s last week, opens its community forum and white papers.
XinFin.org an ethereum derived blockchain released it’s business white paper and technical summary to the blockchain community today. XinFin.org had opened it’s Pre ICO three weeks ago.
XinFin Business white paper unveils it’s plans to connect real world IoT enabled devices and projects to XinFin XDC blockchain to enable transacting and peer to peer financing. The architecture has been designed to provide retail, enterprise and Government applications.
“XinFin XDC is shortly entering into a Pilot project that will connect cloud connected IoT enabled water purifier ATM machines in remote parts of Africa, India and other asian countries. The local municipalities unable to raise capital for such critical infrastructure projects can allow transparent reporting of real time usage and statistics of the device. Global Financiers can directly fund the device to provide affordable facilities for locals. XinFin has also designed repayment architecture that allows the revenues from the usage of these equipments to be repaid to the investors at nominal interest rates using the XDC platform. This model once proven successfully can be implemented to finance an entire hospital with real time statistics or even Toll Roads. In the consumer equipments lending architecture, investors can directly finance Farm Equipments such as tractors. The architecture once proven can be used by authorised and regulated entities locally.” said Alex Mathbeck, Head of marketing for XinFin.org.
“The world can use XinFin technology to bridge $5 trillion infrastructure deficit.” added Mr. Alex.
“XinFin is also readying it’s global trade and finance focused marketplace portal, tradefinex.org to start pilots with real world enterprises which can facilitate peer to peer trade and finance with real time settlement. This process takes months today and most of the times can not be facilitated by limitations of the FIAT mechanism.”
XinFin.org is building it’s own version derived out of Ethereum codebase that is better suited for these business cases. The Technical summary released to the community unveils that XinFin is currently forking the open source Ethereum codebase to allow Gerant nodes or master nodes for fast transaction processing times. XinFin blockchain is a permissioned distributed network which means it will not be open to public for mining. The miners will be evaluated and will be required to follow military grade standards to host a gerant node. The design is meant to address to major issues with Blockchains today. i.e security and scalability. XinFin is also building a Hybrid architecture that can connect public ethereum blockchain and public bitcoin blockchain to it’s permissioned environment through a secure layer.
XinFin also opened it’s community forum for participation on http://www.xinfin.net
The Pre ICO is nearing its last week and early backers can follow the steps at the following site to buy XDC Pre ICO tokens: http://ift.tt/2rHKc8F
This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com 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 the press release.
The post XinFin.Org Blockchain Releases Business White Paper Showcasing IoT Enabled Real World Connectivity appeared first on Bitcoin News.
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PR: Rivetz Introduces Decentralized Cybersecurity Token to Secure Devices
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
RvT Token Technology Can Enable Provable Cybersecurity Controls, Putting Device Security on the Blockchain
RICHMOND, MA — Rivetz Intl., a newly formed subsidiary of Rivetz Corp., today announced the RvT cyber security token, created to combine trusted computing with blockchain technology that can offer comprehensive privacy protection. Rivetz believes the RvT token will enable multi-factor authentication across devices, to achieve provable security at the transaction and authentication level. Furthermore, Rivetz believes the solution will enable peer-to-peer transactions to have provable cyber controls that become a permanent part of the blockchain record, providing cryptographic proof that the measured protections were in place before a transaction can execute. The Rivetz solution is built on technology that has already been delivered on over a billion devices containing ARM-compatible processors.
RvT token technology takes advantage of the established capabilities of the Trusted Execution Environment (TEE) to provide a vault on the device to securely enable machine execution of instructions that are subject to owner-led policy. The Rivetz trusted app checks the status of a device before undertaking a task, such as connecting to the cloud. If the current condition of the TEE and the registered reference conditions match, the task can proceed. If not, the task will not be permitted.
“Since my introduction to blockchain in 2013, it’s been clear that blockchain technology and trusted computing have the potential to provide the global infrastructure to enable billions of trusted computing devices already in circulation with built-in decentralized cyber security,” said Steven Sprague, Founder of Rivetz. “We’ve invested and built the foundations to realize that vision. Rivetz believes that the launch of the RvT token and RvT powered services will provide a decentralized operational and economic model to boost the adoption of built-in security controls.”
The launch of the RvT token builds on existing trusted computing technology already deployed by Rivetz Corp., which has been done over the last three years to prototype advanced transaction and security capabilities. Blockchain, IoT, cloud computing and many other markets can benefit from provable controls. Today’s devices contain advanced security hardware, and Rivetz’s mission is to put that deployed security to work to provide a simpler, safer experience for users.
The launch of the RvT token sale is expected to take place on July 25, 2017. More details along with a technical white paper are available at: www.rivetzintl.com.
About Rivetz International
Rivetz International is a wholly owned subsidiary of Rivetz Corp., focused on solving problems associated with consumer and machine-to-machine digital transactions. Rivetz technology provides a safer and easier-to-use model for all users to protect their digital assets using hardware-based device identity. The device plays a critical role in automating security and enabling the controls that users need to benefit from modern services. Rivetz leverages state-of-the-art cybersecurity tools to develop a modern model for users and their devices to interact with services on the Internet. For more information, visit www.rivetzintl.com
All product and company names herein may be trademarks of their registered owners.
TokenMarket Contact: Freya Stevens, freya@tokenmarket.net
Rivetz Media Contact: Transform Group, rivetz@transform.pr
Rivetz Company Contact: info@rivetz.com
This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com 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 the press release.
The post PR: Rivetz Introduces Decentralized Cybersecurity Token to Secure Devices appeared first on Bitcoin News.
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Japanese Bitcoin Exchanges Roll Out Insurance to Help Merchants Accept Bitcoin
Japan’s leading bitcoin exchanges, Bitflyer and Coincheck, will start offering insurance for merchants to cover failed transactions involving bitcoin.
Also read: Bitpoint Adds Bitcoin and Ether Payments to Platform with Unionpay, Wechat Pay and Alipay
Insurance for Bitcoin-Accepting Merchants
Two of Japan’s leading bitcoin exchanges, Bitflyer and Coincheck, are partnering with large Japanese insurance companies to offer merchants insurance to protect them from Bitcoin transactions that do not go through correctly, Nikkei reported. “Policies will cover losses from botched payments,” the publication described, adding that:
The hope is that more stores will adopt bitcoin as a payment method if they are not forced to simply eat such losses.
Since the Japanese government started recognizing bitcoin as a legal method of payment on April 1, a growing number of merchants have started adopting the digital currency.
Recently, Bitcoin.com reported on businesses in Japan’s number one electronics shopping district, Akihabara, accepting bitcoin. Both Coincheck and Bitflyer have continually been signing up retailers across Japan to start accepting bitcoin, such as Bic Camera and some popular capsule hotels.
Bitflyer and Mitsui Sumitomo Insurance
The Tokyo-based Mitsui Sumitomo Insurance Group (MSIG) is part of the MS&AD Insurance Holdings Group. Japan’s largest bitcoin exchange by volume, Bitflyer, has announced that it has partnered with the insurance company to offer merchants a way to receive compensation for failed Bitcoin transactions, Nikkei detailed, adding that:
The insurance package rolling out Friday will be the first of its kind in Japan.
This insurance “will cover damages if a customer payment does not go through correctly due to system problems or other issues,” the publication noted.
This is not the first time Bitflyer has worked with MSIG. In November 2016, the two companies started co-developing “Japan’s first cyber insurance policy for Bitcoin businesses,” they announced at the time. The two “have collaboratively created a special insurance package with comprehensive compensation for Bitcoin businesses for risks associated with cyber attacks,” they described. The policy covers a wide range of damages incurred from the theft and disappearance of bitcoin following cyber attacks, as well as other support services.
“The total coverage, ranging from 10 million yen ($89,000) to 1 billion yen, will be offered against damages and losses caused by cyber attacks and other unauthorized accesses, as well as mistakes and impropriety by employees,” Nikkei reported at the time.
Coincheck and Tokio Marine & Nichido Fire Insurance
Another leading Japanese bitcoin exchange, Coincheck, is also preparing to offer a similar insurance product by teaming up with Tokio Marine & Nichido Fire Insurance, a property and casualty insurance subsidiary of Tokio Marine Holdings, according to Nikkei.
Earlier this month, Coincheck announced a different insurance product through the same Tokio Marine & Nichido Fire Insurance company. This insurance would compensate Coincheck users up to 1 million yen in case of “unauthorized login to user account.” The exchange said that this type of coverage is the first of its kind in Japan.
“We will indemnify damage incurred by unauthorized login to a user account that has set up 2-step authentication on the virtual currency exchange ‘Coincheck’ that we operate,” the exchange announced at the time, adding that “we will pay up to 1 million yen as compensation amount per request.”
Other Insurance Options
A few different types of insurance covering Bitcoin transactions already exist. However, they are third-party services, and not offered by the exchanges providing merchant processing solutions. Often, merchants are not aware of these services at the time they sign up to start accepting bitcoin.
GAP600, for example, is a US-based insurance underwriter used by Shapeshift, Cubits and Coinify. Founded in 2015, the company underwrites Bitcoin transactions for merchants, developers and service providers to allow zero-confirmation transactions, according to its website. GAP600 describes its product as an insurance service that “bridges the time gap from the published transaction on the Bitcoin network to the moment it joins the blockchain, by immediately confirming Bitcoin transactions even before they reach the block chain and are included in a mined block.”
Blockcypher offers another type of insurance for zero-confirmation bitcoin payments, which the company bundles with its confidence factor scoring system. Although their affordable API-driven service can help merchants decide in real-time if transactions are risky, the added insurance only covers payments up to $9 in value.
What do you think about bitcoin exchanges offering insurance to merchants? Let us know in the comments section below.
Images courtesy of Shutterstock, Bitflyer, Coincheck, MSIG, and Tokio Marine & Nichido Fire Insurance Company
Need to calculate your bitcoin holdings? Check our tools section.
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Asia-Focused Luxury Travel Agency Smiling Albino to Start Accepting Bitcoin
The Southeast Asian travel agency, Smiling Albino, announced they would begin accepting bitcoin for payment on August 1. The company is based out of Bangkok, Thailand. They work with clients to provide specialized and tailored traveling throughout Southeast Asia. They will accept bitcoin transactions for organizing customized travels in Thailand, Cambodia, Vietnam, Laos and Myanmar. The destination management company has been providing these luxury travel services for about 15 years.
Also read: Felt Boot Restaurant Valenok Becomes the First in Moscow to Accept Bitcoin
Smiling Albino accepts bitcoin from clients directly in a peer-to-peer fashion, although they want clients to use non-exchange-based wallets. They do this so their client’s funds do not have a chance of getting lost and are broadcast immediately on the network.
We have an exciting announcement coming up soon, can you guess what it is? http://pic.twitter.com/biIqjDE9Em
— Smiling Albino (@smilingalbino) June 21, 2017
Smiling Albino’s Clientele and Its Reason for Accepting Bitcoin
The company mentioned the reason why they started accepting bitcoin in a press release. They say they have a sophisticated and tech savvy clientele and that their clients are the movers and shakers of their industries, so they need payment methods that match their station in life.
Smiling Albino’s Director of Business Development Stephanie Rowe summed up this position. She said, “Our core clients are leaders in their fields and innovators. By adapting early to cryptocurrency we hope to facilitate, for some of our clients, easy payments for on-the-fly bookings or add-ons during their trips. Staying ahead in financial transactions is just one of the many ways we show we’re leading the way in luxury travel”.
Overall, Smiling Albino suggested they are accepting bitcoin because it is a more efficient way to book travels. Their customers are paying overseas and this reduces unseen costs and unnecessary overhead for their clients.
More Companies Start Accepting Bitcoin
Since Japan accepted bitcoin as a national currency, many companies have joined in on the bitcoin mania. It is no surprise that many of these companies hail from Asia and other eastern parts of the globe.
For instance, in order to wet the appetite of bitcoin users, Japanese bitcoin exchange Bitpoint recently partnered with Nippon Pay to bring bitcoin as a reliable payment method to many users. Nippon Pay is a multi-payment platform that specializes in expediting mobile payments. They leverage Wechat Pay, Alipay, and Unionpay as part of their service. This greatly expands the influence of bitcoin across Japan and other parts of Asia. Payment additions for South Korea, Thailand, and Taiwan are also being implemented.
What do you think about more travel agencies and Asian companies starting to accept bitcoin? Let us know what you think in the comments below.
Images via Shutterstock and smilingalbino.com
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Pantera Capital Files With SEC for ICO Hedgefund
United States-based bitcoin investment firm, Pantera Capital, has filed with the U.S Securities and Exchanges Commission (SEC) for an Initial Coin Offering (ICO) hedgefund.
Also Read: SEC Eyes Initial Coin Offerings for Regulatory Oversight
If Successful, Pantera ICO Fund LP Will Be the World’s First ICO Hedgefund
Pantera Capital is hoping to become the first bitcoin investment firm to offer an ICO hedgefund. The Pantera ICO Fund LP plans to offer investors a diversified and third-party managed means to speculate on upcoming initial coin offerings, claiming to mitigate much of the risk associated with investing in pre-market cryptocurrency projects.
Pantera Capital was formed in 2013, comprising the first US-based bitcoin investment firm. The company has invested in numerous cryptocurrency heavyweights, including blockchain-based remittance service Abra, leading South Korean bitcoin exchange Korbit, and altcoins Ripple and Zcash. Pantera CEO Dan Morehead and Auger co-founder Joey Krug will be chief investment officers for the fund, with Krug now joining Pantera Capital as a full-time employee.
In a recent interview with Techcrunch, Joey Klug, Dan Morehead, and Pantera Capital partner Paul Veradittakit articulated their intentions for the ICO hedge fund. The ICO hedgefund will have a preference for investing in “protocols where the token is integral to the functioning of the service itself… where tokens are the only exposure to the network.” Ideally Pantera will invest in projects where the development team has experience with “buil[ding] an open source community on a large scale”, with the fund planning to hold tokens for between ten and twenty projects at any one time. Pantera are also planning on having direct engagement with the projects that they invest in, with Paul Veradittaki stating that “[Pantera will] help provide the right connections, whether in terms of marketing or recruiting or business development.” Where possible, the fund hopes to be the largest participant in the projects it invests in.
Dan Morehead suspects that ICOs may come to supersede traditional VC firms, describing such as the principal motivation behind Pantera’s ICO fund. “In [2017’s] second quarter, ICO issuance was greater than venture capital, with $210 million [invested in ICOs] versus $180 million [invested into startups by VC firms. We do expect that transition to continue.”
Pantera’s Filing With the SEC Comes Before a Clear Regulatory Apparatus Has Been Developed for Initial Coin Offerings
The fund will be open to private and institutional US-based investors, offering a means for many venture capital firms to participate in the ICO markets that are otherwise unable to directly invest in cryptocurrency projects due to company policies. The company plans to open up to non-US investors in the future.
Pantera’s filing with the SEC comes before a clear regulatory apparatus has been developed for initial coin offerings. Recent controversies surrounding particular cryptocurrency pre-sales have been prompting experts to forecast the inevitability of a regulatory crackdown on ICOs. Recent reports have evidenced that the SEC is actively looking at ICOs, citing a lack of transparency and oversight as areas of concern. Despite such, Dan Morehead and Pantera Capital are confident that Pantera ICO Fund LP will be able to comfortably adapt to future regulations. “All these new currencies are along a spectrum and have various attributes, and various regulatory bodies around the world, including the CFTC and the IRS, have taken clear stances on them already. Other agencies haven’t ruled on them, but I think it’ll be the same with token sales, where there will be a period of time where they figure out how they fit into existing regimes or whether new regimes are needed to regulate token sales.”
The firm is currently in the process of a $100 million fundraising campaign for the venture, having already successfully secured over $25 million.
Do you think that Pantera’s ICO hedgefund will have positive implications for the cryptocurrency economy? Share your thoughts in the comments section below!
Images courtesy of Shutterstock and Pantera Capital
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On June 22 to 26, many anarchists and freedom families congregated in Delton, Michigan for the Midwest Peace and Liberty Fest 5. It is a gathering for all liberty lovers who are looking to network, connect, mingle, and spend some time in nature. Bitcoin.com was lucky enough to make an appearance at the festival and provide attendees with cryptocurrency information and plenty of swag.
Also read: Surveys Suggest Bitcoin Still Has Enormous Growth Potential
Aesthetic of the Fest; Amazing Speaker Lineup
The mood of the fest was light and intimate. The festival grounds were lush and serene. They included a wooded area with an orchard, plenty of camping spots, and wildlife galore. The atmosphere seemed to encourage bonding between everyone involved. Most of the revelers were there to share their love of liberty, decentralization, and compassion. The fest’s website described it in a similar fashion:
“You can expect diverse and life-enriching experiences at this year’s Fest. We know how valuable free time, sharing meals, conversation, and connection with a like-minded community is, and with that in mind we’ve made sure to maintain the laid back and flexible nature of last year’s festival. We are also aware that there is value in highlighting the innovative and intelligent minds the liberty community has to offer from across the Midwest. At the pavilion, expect a line-up of Midwest sourced liberty enthusiasts offering talks, interactive discussions, demonstrations, and dialogues on the most pertinent issues relevant to your freedom.”
This year’s talks were no exception regarding the quality of speakers. Several of the greatest minds in the liberty provided talks. Some of the subjects included peaceful parenting, government overreach, dealing with police, and slashing healthcare costs. Speakers included Dayna Martin, Jeffery Tucker, Mary Ruwart, Adam Williams, Nick Hazelton, Paul Gordon, Andrew Marich, Shane Radliff, Jeff Wood, and others.
Solving the Bitcoin Scaling Dilemma by the Campfire; Jeffrey Tucker Talks about Bitcoin and Blockchain
One of the most pertinent cryptocurrency events at the festival was an impromptu bitcoin discussion panel that cropped up as the stars grew bright in the sky and the campfire crackled.
The discussion revolved around how to successfully resolve the scaling dilemma. Critiques on Blockstream and Core came up. There were also people who did not know much about bitcoin, so the fireside discussion offered a teachable moment for those individuals. Overall, the discussion was polite. It was also intimate and allowed for many details of each thought to be fleshed out.
Jeffery Tucker also referenced the importance of the blockchain revolution and the growing number of cryptocurrency millionaires in his talk. He called the emergence of these new wealthy crypto elite the new “blockchain aristocracy,” because they will be replacing the old order. He implied bitcoin and other cryptocurrencies are the technologies of liberty, and they are here to stay. He said this is a beautiful time to be alive.
Perks of the Festival; Bitcoin Vending
The talks were truly amazing…but the vibe of the festival inspired appreciation and love all on its own. Everywhere people were enjoying themselves and living as freely as possible. They chatted, hugged, and dined in tents or in the cabins. They danced under the moon at the festival’s ‘Anarchy Ball’ on Saturday night.
There were also vendors selling all types of merchandise, including food, Kratom, books, trinkets, and other goodies. The cool thing was most of the vendors accepted bitcoin. It is true the internet was a bit sketchy in some parts of the campground, but everyone was willing to cooperate even when technology was not. The festival was amazing and rife with freedom. Anyone interested in decentralization and cryptocurrency should consider going to the fest if they have never attended. It promises a joyous experience for anyone who embraces the nascent future of anarchy.
Would you be willing to venture out to Michigan for the Midwest Peace and Liberty Festival? Share your thoughts in the comments section below!
Images courtesy of Shutterstock and Midwest Peace and Liberty Fest
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The post Midwest Peace and Liberty Fest: Intimate Fireside Bitcoin Conversations appeared first on Bitcoin News.
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