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Wednesday, February 28, 2018

Forking Today: Bittrex’ Stance on Bitcoin Private Angers Zclassic Bagholders

Bittrex’ Silence Over Bitcoin Private Angers Zclassic Bagholders

In less than six hours, zclassic will fork to create bitcoin private, a new privacy-oriented coin that uses zk-snarks to obfuscate transactions. Holders of bitcoin and zclassic will both be eligible to receive bitcoin private (BTCP) on a 1:1 basis. There’s just one problem: 93% of all zlcassic (ZCL) is on Bittrex exchange, which until today had neglected to pass comment on whether it would support the fork. As the price of ZCL has dropped sharply, bagholders have expressed their anger at Bittrex’ slowness to act.

Also read: Bitcoin Private Fork Aiming to Make Bitcoin More Anonymous

Bitcoin Private Angers the Public

Bittrex Is Now Grouping Token Deposits to a Single Ethereum AddressBitcoin private has been a long time coming, with the fork of zclassic announced back in December of last year. Since then, traders have been steadily accumulating ZCL, causing its price to rise from $4 in early December to a high of almost $200. Everyone knew that ZCL would dump hard, but few expected it to do so before the fork. In the last 48 hours that’s what’s happened though, as the coin has plunged to a low of $73, a drop of 50% in less than a week.

It had been widely assumed – or at least hoped – that Bittrex would support the fork. Given that 93% of the trading volume comes from the U.S. exchange, it has the power to largely make or break the launch of bitcoin private. As ZCL bagholders have vented their frustrations, other traders have crowed about selling the coin days ago, leading to acrimony. The fork is scheduled to take place on February 28 around 5pm UTC.

The exchange finally broke its silence just hours before the fork was due to occur. In a statement, it wrote: “Bittrex will NOT be supporting the market for Bitcoin Private but due to issues with the Zclassic wallet, we will offer Zclassic holders on Bittrex partial support through claiming and withdrawing BTCP…Bittrex will suspend the Zclassic market approximately 15 minutes before the snapshot time and perform an on-exchange snapshot of ZCL balances. The market will re-open after 5pm UTC once the on-exchange snapshot is complete.”

The exchange probably won’t be listing BTCP as a tradable coin, it seems, and it certainly won’t be issuing bitcoin private on a 1:1 basis to BTC holders. While ZCL holders were relieved to learn this news, for some traders the announcement was a case of too little, too late.

Bittrex’ Silence Over Bitcoin Private Angers Zclassic Bagholders

A Good Idea Badly Executed?

The arguments for and against bitcoin private have been rehashed enough times. Given zclassic’s reliance on Bittrex for trading volume, it seems odd that Rhett Creighton and his team wouldn’t attempt to come to some sort of informal agreement with the exchange in advance. Without Bittrex’ promise of participation, the whole affair was bound to create bad blood and get the launch of bitcoin private off to a controversial start. Nevertheless, there has been nothing preventing traders from withdrawing their zclassic to a wallet or sending it to an exchange that has promised to support the fork in advance, such as Cryptopia.

Bittrex’ Silence Over Bitcoin Private Angers Zclassic Bagholders

Historically, Bittrex has been reluctant to support bitcoin forks, with bitcoin gold the last to be listed on the exchange. Other exchanges, including Hitbtc and Kucoin, have announced that they will issue BTCP to BTC holders, but Bittrex – which isn’t exactly famed for its communication – remained silent right up until the last possible moment, before finally caving to public pressure. While zclassic holders are entitled to feel aggrieved at Bittrex’ lack of action, exchanges are not obligated to dispense forked coins like free candies.

For those who truly believe in bitcoin private, the price of zclassic in the run-up to the fork is largely irrelevant. All that matters is that they move their ZCL to a supporting wallet or exchange, sit tight, and let the fork take its course. For traders, simply chasing the pump, going all-in on a coin that was already up 5,000% in three months was always going to be a risky move.

Do you think Bittrex should have declared its support for BTCP sooner? Let us know in the comments section below.


Images courtesy of Shutterstock, and Coincodex.


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The post Forking Today: Bittrex’ Stance on Bitcoin Private Angers Zclassic Bagholders appeared first on Bitcoin News.



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PR: Brahma OS Is the Decentralized Value Operating System Based on Revolutionary Blockchain Technology

Brahma OS - Decentralized Value Operating System

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.

SINGAPORE – The advent of blockchain technology is provoking a revolution of the Internet of Value. In the blockchain world, Ethereum, NEO, EOS and other blockchain-based computing platforms exploit land to run applications. On this land, a variety of application chain of different functions spring up, for example: Rebo network for cross-border payment, CVC with the function of authentication and Distributed File System IPFS. However, in the world of the blockchain, there is a lack of infrastructure with multiple functions which offer a variety of decentralized services. Brahma OS aims to fill that void.

What is Brahma OS?
Taking the widely used mobile Android system as an entry point, Brahma OS builds an underlying architecture of blockchain applications and ecosystem based on Ethereum. As the core of connecting end-users and blockchain networks, Brahma OS offers users services like decentralized authentication, network transmission, storage, app store, asset management, and transaction, also making Brahma OS highly scalable. Through the Brahma OS SDK interface, developers can quickly expand decentralized service components.

Why use Brahma OS?
The operating system as the interface of the user and the computer manages the scheduling, operation, and processing of the computer hardware resource. On the other hand, it also provides the user with a friendly human-machine user interface. In order to offer and utilize computer resources more efficiently, the virtual operating system and the cloud operating system service complement each other.

As operating systems become more centralized, the infrastructure on which they operate is accordingly more centralized. For instance, as brute-force password cracking can pose threat to the identity authentication method based on the “username + password”, people have proposed various two-factor authentication solutions such as Google auth dynamic password, fingerprint authentication, and access control cards. Although two-factor authentication enhances user security, the master key used for authentication is stored on a central server. Once the authentication server is out of order or once the master key is stolen, it will pose a systemic risk and expose user privacy.

The problems described above about centralization of identity authentication also exist in application services such as network transmission, central storage, app store and transaction payment.

In dealing with the trust problem in centralized services, Rebo, CVC, IPFS have solved some service and function trust issues in a real system through the blockchain technology. However, the design ideas for Brahma OS are different. Brahma OS provides users with application services based on blockchain technology from the platform layer and operating system level. In the early planning of the Brahma OS system, Brahma OS will be based on the Android system to provide users with blockchain application components. Using blockchain technology, Brahma OS will solve the trust problem from the operating system platform. From this, Brahma OS is more like a blockchain virtual machine system.

In the future planning, Brahma OS will be deeply integrated with the hardware to give birth to a new smartphone operating system in the world of the blockchain. The network communication chip of Brahma OS and the contact chip of Brahma OS will become a brand new communication protocol which can support many mobile phone hardware manufacturers.

What kind of blockchain services does Brahma OS provide?
In the initial implementation of the Brahma OS system, Brahma OS will provide users with the following blockchain decentralized services by building a sandboxed environment for Native DApp and removing Android’s centralized service components.

To protect user privacy, Brahma OS provides users with identity authentication services based on blockchain addresses and user portraits, and offers privacy protection for user communications, calls and storage through elliptic curve public key algorithm and through Hash algorithm. As the storage and the transmission of data are encrypted, only users with a private key can have access to it. Therefore, there is no risk of data leakage in Brahma OS.

As for blockchain asset management, users can achieve ETHs and various ERC20 tokens management through the asset management components offered by Brahma OS without an extra wallet.

In terms of building an autonomous connected networks, Brahma OS dissociates both the meta-network and the “router” from existing network protocols and expects to build a peer-to-peer OS network that ensures encryption of communication data through protocol confusion from the data transmission level and build an autonomous, connected network from the configuration of the routing role.

In terms of decentralized storage services, Brahma OS offers a functional interface invoking other decentralized cloud services, including services from IPFS, Sia, Storj among many others.

In addition, Brahma OS will provide developers with a rich SDK interface and privacy API for developers to expand blockchain applications. As the DApp software on Brahma OS becomes abundant, a centralized DApp Store market will be established in the future to promote the ecological autonomy of Brahma OS through token support incentives. The appearance of more and more valuable apps like decentralized games will bring unprecedented value to developers and users of Brahma OS.

Brahma OS technical architecture

Brahma OS technical architecture is hierarchical. The entire system is decomposed into a number of higher and lower logic layer like Chain, Runtime, Framework. Taking into account compatibility issues of native Android applications, we separate virtual machine to completely isolate the runtime environment of Android App and DApp. In this way, we can increase security controls of Android App and prevent system crashes.

The current status of the development work on Brahma OS is well underway. In the development planning, the Brahma team has detailed milestones for each stage. In the third quarter of 2018, the team plans to complete the replacement of the Android centralization service and Brahma OS will connect to the Ethernet network for the first test users to operate on the system prototype.

In the blockchain world, if the blockchain platform such as Ethereum, NEO and EOS are regarded as land, and the networks like Rebol, STEEM, and IPFS as houses of different function, the Brahma OS is a beautiful multifunctional district enabled by a decentralized virtual operating system!

About Brahma OS
Brahma OS is an operating system that hosts decentralized networks by enabling the deconstruction of existing services and the use of a wide range of decentralized services and components to ensure that users can safely and easily access services on the blockchain and application.

For more information on Brahma OS
Official Website: http://brahmaos.io
Telegram Channel: https://t.me/BrahmaOS
Twitter: https://twitter.com/brahma_os
Medium: http://ift.tt/2ovG9vz
Bitcointalk: http://ift.tt/2CObLkm
Contact: Lynn
Press contact: brahmabrm@gmail.com

PR-I.CO is a communication service working exclusively for blockchain and crypto companies. Brahma OS is the source of this content; this press release is for information only and does not constitute investment advice.

Contact Email Address
prteam@pr-i.co
Supporting Link
http://brahmaos.io

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: Brahma OS Is the Decentralized Value Operating System Based on Revolutionary Blockchain Technology appeared first on Bitcoin News.



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BitcoinTV: by The Cryptoverse on YouTube

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Seven Bitcoin Were Stolen From Steve Wozniak Through Cryptocurrency Fraud



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Craig “Satoshi” Wright Sued for Billions

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Bill Gates: I Don't Think Bitcoin's Anonymity is a Good Thing

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Bill Gates Says Cryptocurrencies Have Caused Deaths

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Bitcoin Today: Prices Aim For $11000; Apple's Wozniak Gets Played

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Supposed Bitcoin co-inventor sued for more than $10 billion in cryptocurrency

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Woz: A bad person stole my Bitcoins

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Steve Wozniak Says He Was Scammed Out of $70000 Worth of Bitcoin

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Report: Coinbase made 43 percent of its 2017 revenue in December alone

The digital currency exchange and wallet service Coinbase, founded in 2012 and backed by Silicon Valley investors, recently told shareholders that it booked $1 billion in revenue in 2017. A new independent analysis says about 43 percent of that came in December when the price of bitcoin was surging ...

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Bitcoin exchange Coinbase is handing over user information to the IRS

The move comes in response to an IRS order issued in November 2016 to send records of users who bought bitcoin BTC, -1.48% between 2013 and 2015 so the agency could determine who was evading cryptocurrency taxes. Coinbase initially resisted the order, but ultimately agreed to send the ...

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Bitcoin ATMs Thriving in Michigan’s Most Populous City

Bitcoin ATMs Thriving in Michigan's Most Populous City

Low-income areas in the city of Detroit are seeing a bunch of cryptocurrency-based automated teller machines (ATM). According to local reports, ATMs are popping up in great number in liquor stores, gas stations, and cash-checking locations.

Also read: Bitwala Launching Full-Fledged Crypto-Friendly Banking Service with Debit Card

Detroit Michigan Sees a Crypto-ATM Invasion

Bitcoin ATMs Thriving in Michigan's Most Populous CityDetroit is a well known industrial city and Michigan’s most populous city. However, the region has been dealing with a tumultuous economy and the city residents have been suffering from financial hardships for years. That hasn’t stopped a large influx of bitcoin ATMs from being installed in the city as Detroit now has over 29 machines. The regional newspaper the Detroit News reveals that most of these devices reside in areas with a shortage of banks and low-income housing areas like Inkster, Highland Park, Taylor, Hamtramck, and Pontiac. There are 15 more crypto-ATMs on the outskirts of Metro Detroit as well. Ayman Rida, an executive from a company called ‘International Bitcoin’ installed a good chunk of the machines located in the Metro Detroit region.

“My company installed 15 Bitcoin ATMs last year in Detroit,” explains Rida in an Interview. Rida says most transactions are roughly between $70-80 USD. “Last year, the business grew very, very good at the locations,” Rida adds.

Services for the Unbanked and Underbanked

Cryptocurrency proponents in the area believe the Detroit crypto-ATMs help the underbanked within the region. Although, some law-enforcement officials believe some of the action may be helping facilitate illegal activities and money laundering. A cryptocurrency researcher from a Washington, D.C.-based think tank, the Foundation for Defense of Democracies (FDD) believes bitcoin in Detroit is probably being used for both of those theories.

“The truth is, it could be both scenarios,” Yaya Fanusie explains. “It’s a guess because the technology is new — We need time to collect data,”

The fact that [Bitcoin ATMs] are in the kind of areas you describe, only says how much digital currency is growing worldwide — Bitcoin has sort of grown as way to provide services to the unbanked and underbanked.

Despite the Concerns From Lawmakers Cryptocurrency Use Is Thriving in Detroit

Bitcoin ATMs Thriving in Michigan's Most Populous CityAccording to the local news outlet, 14 Detroit stores in the Metro region with bitcoin ATMs were contacted, but none of the owners wanted to make a statement. The FDD researcher Fanusie doesn’t believe that money laundering is a big issue for crypto-ATM owners in Detroit. Fanusie emphasizes, “That kind of money would essentially be noticed by federal regulators — But if you want to use them to pay a local drug dealer, say $50 to $100, then maybe it’s OK, effective.”

Michigan and the Detroit region is home to quite a few bitcoiners. Besides the bitcoin ATMs, there are large Meetup groups as well. The ‘Michigan Bitcoiners’ Meetup has over 988 members that congregate in Detroit. The ‘Detroit Blockchainers’ Meetup has 488 members, and the group holds a weekly meeting in Metro Detroit where attendees can trade cryptocurrencies with other people in person.

“Come trade cryptocurrency like it’s 1792,” the Detroit Blockchainers state.

What do you think about cryptocurrency ATMs popping up in great number in the city of Detroit? Let us know in the comments below.


Images via Shutterstock, Pixabay, and the Detroit Blockchainers Meetup.


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Europol: Hardcore Criminals Are Shifting From Bitcoin to Monero, Zcash and Dash

Europol: Hardcore Criminals Are Shifting From Bitcoin to Monero, Zcash and Dash

A multitude of representatives of law enforcement agencies from around the world have talked about the use of bitcoin by criminal elements, sometimes revealing ignorance about cryptocurrencies in the process. Now it appears that Europol at least is trying to go deeper, learning about various altcoins and how they can be used too.

Also Read: Israeli Supreme Court Forbids Bank From Denying Service to Bitcoin Exchange

Criminals Go Alt

Europol: Hardcore Criminals Are Shifting From Bitcoin to Monero, Zcash and DashThe European Union Agency for Law Enforcement Cooperation (Europol), formerly known as the European Police Office and Drugs Unit, is concerned that sophisticated criminals are switching to alternative cryptocurrencies while investigators are just focusing on bitcoin. Monero, zcash and dash are specifically mentioned as now appearing on the radar of the EU law agency.

Jarek Jacubchek, a Europol cyber-crime analyst, told Business Insider: “We can see a quite obvious and distinct shift from bitcoin to cryptocurrencies that can provide a higher level of privacy. So basically, you can achieve a higher level of privacy using these ‘altcoins’, and these altcoins are either using stealth as the basis, like monero. There are also coins like dash that do not have stealth addresses, they have transparent addresses, but they have a mixing process that is part of the protocol.”

Bitcoin Still Rules

Europol: Hardcore Criminals Are Shifting From Bitcoin to Monero, Zcash and DashThis shift from bitcoin to altcoins is supposedly fueled by two ongoing trends. First, bitcoin exchanges are coming under regulatory pressure to adopt the same anti-money laundering and know your customer (AML/KYC) practices of traditional financial institutions, such as requiring photo IDs to open accounts, which are scaring away criminals. Second, most police forces are already aware of the potential use of bitcoin and are improving their ability to track down BTC transactions by suspects. Additionally, by shifting between multiple cryptocurrencies, people can better hide their tracks from investigators.

Despite all of this, bitcoin as the original cryptocurrency is still the most popular with criminals, just as it is with law-abiding citizens. The co-founder of cryptocurrency analysis firm Elliptic, Tom Robinson, explains that “the vast majority of illicit activity in cryptocurrencies is still taking place in bitcoin, because of its ease of exchange and more advanced infrastructure”.

Do you think criminals are shifting away from bitcoin to more anonymous altcoins? Share your thoughts in the comments section below!


Images courtesy of Shutterstock.


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35 Countries, EU and FATF Agree to Revise Global Cryptocurrency Standards

PR: Viola.AI Announces Worldwide Community-Choice Campaign for the Name, Look and Persona for the World’s Smartest Love Advisor

Viola.Ai - World’s Smartest Love Advisor

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.

The world’s first Blockchain & AI driven Marketplace for love, Viola.AI is the solution to the current dating and relationships challenges worldwide. She will be the first dating and relationship A.I. that evolves with the users to help them in the stages of dating, couple-hood to marriage. Viola.AI will serve users from helping people find love, helping romance blossom, and helping sustain the relationship right till their twilight years.

The team of Viola.AI, who is also behind the dating giant Lunch Actually Group with over 14 years of success record and regional presence in Asia, has sold out their pre-sale 5 days early back in January 2018 and recently clinched The Investors Awards win at the prestigious d10e ICO Pitching Competition in Cayman Islands.

As the next move in a series of major initiatives, Viola.AI announced that it will give the power to the community to choose and vote for the name, look, and persona for its future lifetime A.I Advisor in a campaign targeting the worldwide community.

The campaign is aimed to decentralize and empower the strong and passionate Viola.AI community to decide on the A.I that they will use once the MVP is launched in May 2018.

With this decentralization initiative, the worldwide community will get to choose and vote for the name for their future lifetime A.I Advisor, how she would look, as well as her key personality traits in different cultures and communities.

Co-Founder and CEO of Viola.AI, Violet Lim, said, “Our passionate and growing community is the key driver to the success of our project, and we are thankful to have such dedicated community members who have been very vocal in showing their support and what Viola.AI means to them. We want our A.I to be used by all people from different cultures, different nationalities and different creeds. And that is why we are giving the power and opportunity to our community to let them decide on the name for the World’s Smartest Love Advisor.”

Viola.AI, who is currently gearing towards its public sale on 14 March 2018, will be launching the Community-Choice campaign after the token sale is concluded.

Harnessing on AI, blockchain technology and trustless smart contracts, Viola.AI is equipped with several core capabilities:

The Smartest Love AI: Provides highly personalized matching and discreet relationship advices which evolves according to the user’s relationship status by employing A.I. with personalised machine learning engine and natural language empathy. Viola.AI will be trained by the Group’s 13 years of accumulated service experience, 3500 datasets and 1.1 billion data points.

Real ID verification: Protects users with visual recognition technology. The deployment of decentralized system and blockchain technology enables high security and authentication of users, preventing any identity theft and protecting against data tampering and the infrastructure of Viola.AI.

Community Support: Offers strong community support via crowd wisdom with quality content and advice that addresses user’s enquiry. Viola.AI will reward users for their good and helpful advice.

Recommended-based marketplace: Provides timely recommendations to address each user’s needs for goods and services from merchants, experts and service providers.

Secure smart wallets and contract system: All transactions within Viola.AI are controlled by a secure wallet and smart contracts to ensure that users can interact and transact with contributors and merchants at ease as all parties will receive the agreed-upon revenue share or commissions.

With the strong team of Viola.AI as well as their line-up of ICO Advisors, ranging from serial entrepreneurs, blockchain and investment specialists, to tech investors with huge network, the team is confident to achieve their mission of changing the world, one relationship at a time and positively impacting billions of people worldwide. The company’s co-founders Violet Lim and Jamie Lee have successfully built Asia’s dating giant for the past 14 years and their ICO Advisors include:

• Prakash Somosundram, Serial Entrepreneur, Fintech Influencer, Singapore Government Advisor
• Kenneth Tan, Co-Founder of FundYourselfNow and Blockchain Writer
• Alex Haxton, Cryptocurrency and Blockchain Consultant
• Peter Sin, Co-Founder of Singapore Bitcoin Club
• Caleb Yap, Co-Founder of Singapore Bitcoin Club
• Brian Condenanza, ICO Advisor, Blockchain and Bitcoin Early Adopter
• Phillippe Rodriguez, President of Bitcoin Association in France and founder of Avolta Partner
• Michael Reece, Blockchain entrepreneur and Co-Founder of NicheAdNetwork
• Bruno Vanryb, Serial Entrepreneur who founded Avanquest, a listed and global software publisher
• Hong Ting Wong, early adopter of cryptocurrencies, a serial entrepreneur, founder & CEO of Botbot.AI and 2359 Media
• Lisa Clampitt, Founder and President of Matchmaking Institute in New York
• Dato Larry Gan Nyap Liou, Managing Partner at Accenture for 16 years, invested and worked with innovative technologies
• Warren Whitlock, top social influencer in blockchain space

Community users as well as the public can find out more about the community-choice campaign or about Viola.AI at the next AMA (Ask Me Anything) session on Facebook Live on Friday, 9 Mar 2018 at 9am – 10am (UTC+8) where co-founders Jamie and Violet will answer any questions they might have about the project. Users can join in and ask questions to the team via Telegram or Facebook.

**END**

For more information on Viola.AI and to join the whitelist, visit www.viola.ai

Join the discussion on Viola.AI Telegram: https://t.me/ViolaAI

Contact Email Address
christina@viola.ai
Supporting Link
www.viola.ai

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.

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Las Vegas Strippers Accept Bitcoin via QR Tattoos

Las Vegas Strippers Accept Bitcoin via QR Tattoos

There has been a lot of talk recently about the missing representation of women in the male-dominated cryptocurrency ecosystem. While Las Vegas strippers are not the representation some hoped for, they are an example of how bitcoin can help working women control their financial affairs and avoid potential problems with prudish banks.

Also Read: Bitpay Bans Payments to Merchants of Explicit Content, Cloud-Mining and Gambling

Bitcoin Dancers

Las Vegas Strippers Accept Bitcoin via QR TattoosA Las Vegas news show has featured a segment on an adult entertainment venue in the city which enables its dancers to get payments from clients directly via bitcoin transfers. The use of the cryptocurrency was primarily showcased as a privacy enhancing measure (preventing your wife from seeing the payments on the credit card bills) as well as an attraction for affluent bitcoin investors.

The Las Vegas strip club is called the Legends Room and we reported about its opening back in May 2017. The local news team interviewed the founder, Nick Blomgren, as well as a number of the adult dancers at the place. They even explained how visitors can use the in-house bitcoin ATM to buy cryptocurrency at the club. Furthermore, the dancers can choose to wear temporary QR tattoos as wallet addresses that can be scanned on a smartphone.

The Future of Adult Entertainment

Las Vegas Strippers Love Accepting Bitcoin via QR TattoosBesides the privacy concerns of the patrons, the use of cryptocurrency allows the dancers to avoid explaining to banks where they get large amounts of cash. “I’m not going to name names, but there are certain banks that… will shut down your account and actually deny you from having an account because we work in the adult entertainment industry”, said Summer Chase.

Asked how often customers want to pay with bitcoin, Brenna Sparks answered: “Oh, quite often. Like the people that come here, they are like really into crypto. I feel like it’s very smart. They are really into that.” She says she likes checking her balance a lot, “It’s fun though. Once you invest, it becomes an everyday thing.” The 26 years old dancer became interested in cryptocurrency when she was just 19. Now she and her friends think cryptocurrency may be the future for adult entertainment workers. “It’s peer to peer. It’s anonymous, and it’s instant,” Sparks said.

“When I first heard about the concept, I thought wow this is really something different, you know,” said DJ Saint Clare who gets part of her salary in cryptocurrency.

How do you feel about Las Vegas dancers having tattoos on their bodies to accept payment for services rendered? Tell us what you think in the comments section below.


Images courtesy of Shutterstock.


Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

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Justice Dept Looks to Develop ‘Cryptocurrency Strategy’

Another Thai Bank Shuts Down Accounts of Local Crypto Exchange

Another Thai Bank Shuts Down Accounts of Local Crypto Exchange

Another major Thai bank is reportedly terminating transactions involving cryptocurrencies through the bank accounts of a local crypto exchange. This decision follows a similar move by another major Thai bank, Bangkok Bank, to terminate the same exchange’s bank accounts.

Also read: Indians Look to Buy Bitcoin Overseas as Regulations Tighten

Second Bank Closes Account of Crypto Exchange

A major Thai financial institution, the state-owned Krungthai Bank, has “shut down crypto trade accounts,” the Bangkok Post reported on Monday. The bank has become the second in Thailand “to terminate transactions involving cryptocurrencies trading with Thai Digital Asset Exchange (TDAX),” a local cryptocurrency exchange.

Another Thai Bank Shuts Down Accounts of Local Crypto ExchangeThe first bank was Bangkok Bank, which decided to terminate TDAX’s accounts with the bank last week. Earlier this month, Thailand’s central bank issued a circular, asking financial institutions to refrain from getting involved in five cryptocurrency activities.

Mr. Somchai Sujjapongse, the permanent secretary of the Finance Ministry and chairman of Krungthai Bank, ordered his bank on Monday “to halt any transactions related to cryptocurrencies with TDAX through the bank’s accounts,” the news outlet elaborated, adding that:

The move followed a Bank of Thailand request that financial institutions cooperate by refraining from making or being involved in cryptocurrency transactions, as the regulatory framework supervising digital currencies remains unclear.

Another Crypto Exchange Affected

Another Thai Bank Shuts Down Accounts of Local Crypto ExchangeTDAX is a privately-owned Thai cryptocurrency exchange. According to the publication, the exchange still has bank accounts with two other financial institutions: Kasikornbank (Kbank) and Siam Commercial Bank (SCB). Last week, Kbank confirmed that it was still providing service to TDAX.

According to the Bangkok Post, a source from another major domestic cryptocurrency exchange, Bx.in.th (BX), revealed that “Bangkok Bank has already terminated the exchange’s account, but did not reveal whether the termination occurred on the same day as TDAX’s termination.” Yuthavithi Rootwararit, founder and CEO of Crypto Trading Co Ltd, said, “BX’s trading volume and value are more than ten times larger than those of TDAX.”

ICOs Postponed

Another Thai Bank Shuts Down Accounts of Local Crypto ExchangeTDAX is also preparing to launch some initial coin offerings (ICOs). However, the regulatory uncertainty has prompted the exchange to announce that its ICO plans are now postponed.

The exchange recently completed an ICO for Jfin coin by J Ventures, a subsidiary of Jay Mart Plc which is listed on the Thai stock exchange. 100 million tokens were sold at the price of 6.60 baht per token. “Jfin coin will not be affected [by TDAX’s ICO decision], as this ICO was fully subscribed to on Feb 16, while the first trading day will be held on April 2,” Mr. Poramin Insom, TDAX’s CEO and founder, was quoted by the news outlet. He added:

Although there are five or six ICOs in the pipeline, the exchange has decided to impose a two-week postponement because market participants expect the SEC to unveil its ICO regulatory framework soon…We are waiting for the ICO regulations from the [Thai] SEC.

The Thai government is in the process of establishing a regulatory framework for cryptocurrencies, which is expected “on March 8, followed by a fintech bill,” the Bangkok Post wrote. A source told the news outlet that the “ICO regulations are focused on supervising online exchanges, which will have to register themselves with the SEC.”

Do you think all banks in Thailand will follow suit? Let us know in the comments section below.


Images courtesy of Shutterstock and Krungthai Bank.


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Bitwala Launching Full-Fledged Crypto-Friendly Banking Service with Debit Card

Bitwala Launching Full-Fledged Crypto-Friendly Banking Service with Debit Card

Bitwala has announced that it is launching a new banking service with real debit cards. Its application with the Federal Financial Supervisory Authority of Germany (Bafin) is pending. Once approved, customers’ funds will be guaranteed up to €100,000. The move follows the suspension of the company’s prepaid Visa cards.

Also read: Indians Look to Buy Bitcoin Overseas as Regulations Tighten

Bitwala’s New Banking Service

Bitwala Launching Full-Fledged Crypto-Friendly Banking Service with Debit CardBlockchain-based payment service provider Bitwala announced on Monday that it is building an online bank account service, “enabling a seamless transition between the crypto and fiat worlds.” The account combines “all the features of traditional banking with the crypto economy,” the company added, noting that “We aim to introduce the new Bitwala accounts to the world within the next few months.”

The company says it has over 57,00 users currently in over 200 countries. Prospective customers can now pre-register for this new service, Bitwala detailed, elaborating:

In the next few months, we will be building a full-fledged German bank account that will come with a German IBAN, BIC along with a real debit card from Mastercard…Your funds up to €100,000 will be guaranteed.

Bitwala Launching Full-Fledged Crypto-Friendly Banking Service with Debit Card“Bitwala accounts will be fully regulated by the Federal Financial Supervisory Authority of Germany (Bafin),” the company stated, adding that its application is currently pending. With Bafin’s approval, the deposit guarantee scheme of German banks will guarantee customers’ funds of up to €100,000 (~USD$123,000).

Bitwala claims that its “accounts will be the perfect solution for those seeking secure and crypto-friendly banking services.” Customers will be able to buy and sell cryptocurrencies as well as manage their daily expenses and setting up direct debits, the company explained.

Accounts Come with Debit Cards

Bitwala Launching Full-Fledged Crypto-Friendly Banking Service with Debit CardThe new Bitwala accounts will come with a debit card linked to customers’ accounts.

“We will be issuing a contactless debit card, enabling you to spend your funds instantly in shops, online and at any ATM,” the company detailed, adding that customers’ balances “will be immediately available” on their Bitwala debit cards. Furthermore, the company says that debit cards will also “have much lower fees and higher spending limits,” compared to the prepaid cards the company previously offered.

Problems with Prepaid Cards

Bitwala formerly offered prepaid cards denominated in EUR, issued by Wavecrest Holdings Limited. Bitwala Launching Full-Fledged Crypto-Friendly Banking Service with Debit CardHowever, on January 5, the company announced that its prepaid cards had been disabled.

“Our Bitwala Card issuer Wavecrest Holdings Ltd received direction from Visa Europe to immediately suspend all Bitwala cards effective immediately,” the company wrote.

In a statement to CNBC, Visa said it had terminated Wavecrest “from our network for violating Visa’s operating regulations,” confirming it had required the company “to close its Visa card products, some of which were linked to cryptocurrency wallets.”

Alongside Bitwala, Wavecrest provided the same services to other cryptocurrency companies, including Cryptopay, Wirex, and Tenx. “Now these cards are invalid,” the news outlet emphasized.

What do you think of Bitwala’s new service? Let us know in the comments section below.


Images courtesy of Shutterstock and Bitwala.


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Chinese Entrepreneur Warns Against Mining and ICO Bans

PR: CryptoWorld LLC Announces Wall Street and the Internet of Money Conference.

Cryptoworld Internet of Money Conference.

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.

Over 30 of the world’s leading blockchain, cryptocurrency and investment experts to speak on a variety of important topics, including regulation, crypto based products, capital raising and valuation at the Intercontinental Hotel in Times Square on March 22nd 2018.

New York NY. February 27, 2018 – CryptoWorld LLC, a crypto asset consultancy firm, announced today that the firm will be hosting a unique one-day conference to address the challenges and opportunities blockchain technology presents to the investment community. The most important issues surrounding cryptocurrencies and tokens will be explored with dynamic and thought provoking sessions covering topics such as how to raise capital using cryptocurrency, lessons learned from ICO’s, how to evaluate crypto assets, regulation and investor protection, transparency, trading and execution as well as the existential risks facing the market today.

The list of speakers blends a diverse mix of practitioners, such as Alex Mashinsky, founder of the Celcius Foundation and previously founder of two of New York City’s top 10 venture-backed exits since 2000, and Michael Terpin, CEO of Transform group who has advised more than 50 ICOs. The conference also boasts leading academics including Michael Casey and Cristina Dolan from the Digital Currency Initiative at the MIT Media Lab.

“With such meteoric growth in Bitcoin, Ethereum, and other alt coins, people in the finance and particularly the investment sector, are getting bombarded with information and misinformation,” says Ronnee Ades, senior partner at the firm. The Wall Street and The Internet of Money Conference was created to gather the leading practitioners, academics and solution providers in the Blockchain and crypto asset fields to discuss, debate, educate and evaluate the current market environment and offer their prognostications about its the future.

The one-day conference will be held at the conveniently located Intercontinental Hotel in Times Square, New York City on March 22nd, 2018. Tickets to attend can be secured at cryptoworldco.com. Those who register before March 1st are eligible for discounted tickets.

About CryptoWorld LLC

CryptoWorld LLC is dedicated to providing comprehensive educational forums in the rapidly growing blockchain technology and crypto asset markets.

The CryptoWorld team, led by industry veterans has spent many years working within the eco-system of retail and institutional investors, and partnering with the world’s leading academics and industry practitioners to provide leading edge educational solutions for practical implementation and commercial success.

Contact Email Address
Cheryl@cryptoworldco.com
Supporting Link
cryptoworldco.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.

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Op Ed: Why Millennials Migrate to Blockchain Technology and Cryptocurrency in Droves

Op Ed: Why Millennials Migrate to Blockchain Technology and Cryptocurrency in Droves

Millennials welcome new industry dynamics, but they have their own motivations for supporting the ascendancy of open-source, decentralized blockchains, many of which are unique to trends common for their generation. Regardless of the reasons for their backing, millennials are indisputably crucial to the survival of blockchains. Now the largest population on Earth, millennials also enjoy more collective buying power than any other group, with $200 billion in discretionary income in 2017 expected to increase significantly this year. More so than their financial support of blockchain solutions, decentralized ledger technology also speaks to millennial values. While some of their motives for loving blockchain technology are shared with peers, there are additional reasons blockchains cater to millennial tastes over any other audience.

Disenfranchisement by the System

A generation that bears the burden of their predecessors’ financial mishaps, there is significant evidence showing that millennials are poorer than their parents were at the same age. With historically low wage growth and unrelenting inflation, this specific constituency is largely bereft of shelter in one of the biggest financial squalls of all time. Alongside student loan debts of almost $1.5 trillion in the United States alone, many millennials have largely given up hope of a healthy financial future.

Bitcoin and other cryptocurrencies represent a small rebellion to the average millennial — a chance to go against the grain and deploy their money as they see fit. Furthermore, blockchain-based efforts toward disintermediation and reducing the role of centralized authorities is a fitting driver for millennials to embrace these concepts, especially when considering their wariness toward institutionalized corruption.

Rejection of Traditional Financial Products

Despite the volatility of the cryptocurrency market, millennials see it as a more trustworthy alternative to traditional financial products like stocks, bonds and even insurance. There are many reasons why this young group’s preferences swing in the opposite direction of their parents’, but the likeliest is that they witnessed the 2008 financial crisis firsthand and don’t feel comfortable or in control as stakeholders of this system. Who would trust products that can be obscured and manipulated to such a worrisome extent without consequences? Better to participate in a newer market where entrenched stakeholders have less sway.

The evidence is resoundingly painted by the numbers when considering more millennials are choosing not to invest at all, keeping their money in cash. In fact, according to a survey of U.S. adults conducted by Bankrate, millennials prefer real estate, cash and even gold ahead of stocks. With bitcoin viewed as digital gold and other digital currencies remaining outside the realm of mainstream finance, it is no wonder that millennials prefer asset classes which  distance them from the traditional financial products pushed by Wall Street.

Achieve the Pipedream Lifestyle

One of the more troublesome trends in the millennial market is that millennials are more willing to spend big, even if they lack the funding to support their lifestyle. Part of the reason is greater exposure to media with a convincing materialistic message, which encourages to find fulfillment in entertainment, vacations, clothes and other luxuries instead.

A general lack of money is no barrier to this lifestyle as many see the financial deck stacked against them regardless. Nevertheless, the blockchain sector has found solutions to get around this financial quagmire, letting younger generations enjoy life without having to participate in the status quo. Cool Cousin, for example, is a blockchain project which lets users hire local experts during their vacation and get a great and authentic experience. The service, and platforms like it, leverage millennial ideals to create low-cost alternatives that don’t sacrifice the experiential aspect of the venture because of financial concerns.

Tech Savviness and Utility

The first generation to mature alongside the internet, millennials are a distinctly tech-savvy group. They can understand and appreciate the benefits of blockchain technology, especially its participatory aspect. For younger investors and entrepreneurs alike, the initial coin offering (ICO) model represents a more accessible, democratic way to invest in new ideas or to launch their own, without jumping through the hoops present in the status quo’s investment arena. Millennials are eager to become not just customers but also stakeholders in the applications of tomorrow and have a real knack for picking easier solutions.

Blockchains empower millennials to become part of the platforms they believe in and thus create more comprehensive and better models for various technologies. Offering more than simple financial services, this trend has led to an explosion in high-tech offerings which disrupt established paradigms. In the field of computer processing, for instance, Golem provides an intriguing case study in harnessing decentralized network power for broader uses. Participants on the platform earn tokens by sharing processing power and pay tokens for the privilege of using a remote supercomputer that draws on this network’s parallel processing capabilities. Millennials have taken to this new investment model and are determined to see their generation’s crucial apps on the chain.

Building a New World

More than having a stake in the future, millennials want to use blockchain technology to build it with their own hands. The digital ledger is a revolutionary tool for promoting pure transparency, which is a word that has little relevance to today’s politics, financial markets and business world as a whole. Millennials love the internet, but this also makes them intimately aware of its downsides, namely that it only exacerbates media bias, corporate control and political obfuscation. Many in this age group see open-source blockchain technology as an accountability tool, one that will create a better system for voting, sharing data and advertising for instance. Already, services like Horizon State and others are creating platforms that make voting and other democratic tools more accessible and transparent, further empowering younger generations.

Ushering in the Future

Millennials are growing up and can no longer be characterized as the youngest and most naïve generation. They’re waking up to the inequity present in the world and are hyper-aware of the status quo’s faults as well. Blockchains provide not just productive ways for them to air their grievances but also social and financial tools allowing millennials to demonstrate what the problem areas are and, at the same time, exactly how to fix them. While the future for blockchain technology is anything but clear, if millennials have their say, it will not only stick around but grow and flourish.

This is a guest post by Reuben Jackson. Opinions expressed are his own and do not necessarily reflect those of BTC Media or Bitcoin Magazine.

This article originally appeared on Bitcoin Magazine.



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