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[bitrealnews]

China’s Internet Censor to Start Regulating Blockchain Firms Next Month China’s internet censorship agency has approved a set of regulations for blockchain service providers in the country that will take effect in mid-February.⠀ The Cyberspace Administration of China (CAC) published its new “Regulation for Managing Blockchain Information Services” on Thursday, defining blockchain information service providers as “entities or nodes” that offer information services to the public using blockchain technology via desktop sites or mobile apps. The rules become official on February 15, according to the release.⠀ Among the 23 articles listed in the document, one requires blockchain service providers to register with the CAC within 10 working days of starting to offer services to the public.⠀ The agency also mandates that blockchain startups must register their names, service types, industry fields and server addresses. Further, it bans startups from using blockchain technology to “produce, duplicate, publish, and disseminate” information or content that is prohibited by Chinese laws.⠀ If blockchain startups fail to comply with the rules, the CAC said it would first issue a warning, while failure to act within the specified timeline would bring a fine ranging from 5,000 yuan ($737) to 30,000 yuan ($4,422), depending upon the offense.⠀ The CAC first published draft rules in October of last year. At that time, one of the articles also recommended that blockchain startups operating in fields such as news reporting, publishing, education and the pharmaceutical industry must also obtain licenses from relevant authorities prior to registration with the CAC. The final rules have dropped this article altogether.⠀ Previously, blockchain technology has been utilized to bypass China’s strict internet censorship – often dubbed “The Great Firewall.” For example, as part of the  movement and ...⠀ https://www.bitfeed.online/chinas-internet-censor-to-start-regulating-blockchain-firms-next-month/⠀ #bitcoin #technology #news #regulation #china #asiapacific #censorship https://www.instagram.com/p/BsdtcAcA7IT/?utm_source=ig_tumblr_share&igshid=3eo8ubm8chhn

[bitrealnews]

China’s Internet Censor to Start Regulating Blockchain Firms Next Month China’s internet censorship agency has approved a set of regulations for blockchain service providers in the country that will take effect in mid-February.⠀ The Cyberspace Administration of China (CAC) published its new “Regulation for Managing Blockchain Information Services” on Thursday, defining blockchain information service providers as “entities or nodes” that offer information services to the public using blockchain technology via desktop sites or mobile apps. The rules become official on February 15, according to the release.⠀ Among the 23 articles listed in the document, one requires blockchain service providers to register with the CAC within 10 working days of starting to offer services to the public.⠀ The agency also mandates that blockchain startups must register their names, service types, industry fields and server addresses. Further, it bans startups from using blockchain technology to “produce, duplicate, publish, and disseminate” information or content that is prohibited by Chinese laws.⠀ If blockchain startups fail to comply with the rules, the CAC said it would first issue a warning, while failure to act within the specified timeline would bring a fine ranging from 5,000 yuan ($737) to 30,000 yuan ($4,422), depending upon the offense.⠀ The CAC first published draft rules in October of last year. At that time, one of the articles also recommended that blockchain startups operating in fields such as news reporting, publishing, education and the pharmaceutical industry must also obtain licenses from relevant authorities prior to registration with the CAC. The final rules have dropped this article altogether.⠀ Previously, blockchain technology has been utilized to bypass China’s strict internet censorship – often dubbed “The Great Firewall.” For example, as part of the  movement and a recent pharmaceutical scandal in the country, individuals posted information on the ethere ...⠀ https://www.bitfeed.online/chinas-internet-censor-to-start-regulating-blockchain-firms-next-month/⠀ #bitcoin #technology #news #regulation #china #asiapacific #censorship https://www.instagram.com/p/BsdtSjFgiIn/?utm_source=ig_tumblr_share&igshid=1fwf4x3gc5jct

[bitrealnews]

Report Claims Chinese Mining Giant Bitmain Is Prepping for New Leadership ⠀ ⠀ ⠀ ⠀ News⠀ The cryptocurrency mining manufacturer Bitmain may have a new chief executive officer in the near future according to regional reports. Bitmain’s director of product engineering, Haichao Wang, will apparently take the lead role within the corporation but no official timetable has been announced.⠀ ⠀ Also Read: Nick Szabo: Central Banks May Turn to Cryptocurrency Reserves Over Gold⠀ Bitmain Plans to Appoint New CEO Claims Report⠀ The Beijing-based mining giant Bitmain Technologies has appointed a “potential successor” for the role of CEO at the company, according to a report from the South China Morning Post (SCMP). Bitmain has been a well known and successful mining rig manufacturer since it was cofounded by Jihan Wu and Micree Zhan in 2013. The Chinese corporation is believed to have pulled in over $4 billion in profit from mining cryptocurrency and selling ASIC equipment to the general public.⠀ ⠀ ⠀ More recently, however, there have been rumors of Bitmain employee layoffs and board shakeups over the last few weeks. On December 10, news.Bitcoin.com reported on Bitmain closing its research and development center in Ra’anana, Israel. The latest report stemming from SCMP explains that Bitmain’s director of product engineering, Haichao Wang, will be the company’s new CEO. Wang has reportedly already started the transition in December and Wu and Zhan will remain co-chairs.⠀ IPO Uncertainty⠀ ⠀ ⠀ Jihan Wu (front) and Micree Zhan (back)⠀ Wang worked for a Beijing-based semiconductor designer called Availink for seven years before joining Bitmain. The potential successor is a graduate from the well known tech school Tsinghua University in Beijing. SCMP further details that when Wang officially takes the lead, Zhan and Wu will leave “day-to-day business activities” but the pair will still play a part in large company decisions. Bitmain is still waiting for the Hong Kong Stock Exchange (HKEX) to deci ...⠀ https://www.bitfeed.online/report-claims-chinese-mining-giant-bitmain-is-prepping-for-new-leadership/⠀ #bitcoin #technology #news #nfeatured #china #bitmain #ipo #israel #hongkong https://www.instagram.com/p/BsdtMuQAfqZ/?utm_source=ig_tumblr_share&igshid=mcym6jokk8wx

[bitrealnews]

9 Unbelievable Stats That Will Make You Want to Invest in Cryptocurrencies ⠀ ⠀ ⠀ In the last 2 years or so the awareness about the term ‘Cryptocurrencies’ has skyrocketed.⠀ Why?⠀ Actually why not when cryptoassets have been the single most profitable asset class so far in history.⠀ This has been possible because money has never been created in a way it is now. Cryptocurrencies including Bitcoin, Ethereum and others are possible now due to decentralized ledger technology called ‘Blockchain’⠀ Before the advent of ‘Blockchain’, there was no alternative form of money that can be used digitally without being fiddled.⠀ But now it is !!⠀ Hence the fundamentals behind ‘Cryptocurrencies’ are strong and they are even going to become stronger as they face the test of time.⠀ That’s why let’s looking to some of the stats that might persuade you to look into cryptos if you aren’t already.⠀ 1. Decentralized & Uncensorable⠀ Cryptocurrencies like Bitcoin, Ethereum, and Litecoin are uncensorable and this feature is inherent to them because of their architecture.⠀ Their architecture is decentralized and distributed enough to make them uncensorable and are unlike the other currency systems we have worldwide.⠀ To give you a perspective here is a stats from Bitcoin’s decentralized node map across the globe:⠀ ⠀ ⠀ ⠀ So you have more than 9000 nodes where you have got Bitcoin’s ledger stored so it is way beyond the single point of failure and impossible to censor with.⠀ And mind you, this is only going to increase !!⠀ 2. A Fraction Of World Population Knows About It⠀ Another fact is that many people around the world yet don’t know about cryptocurrencies and a large chunk who knows about them aren’t that confident in investing in it.⠀ Forget about confidence now but the great opportunity lies in being first or early while investing in any asset.⠀ And crypto is one of those assets where you can be really early.⠀ If you don’t believe me read these stats:⠀ 3. Monetary Sovereignty⠀ Cryptocurrencies cam ...⠀ https://www.bitfeed.online/9-unbelievable-stats-that-will-make-you-want-to-invest-in-cryptocurrencies/⠀ #technology #bitcoin #cryptocurrency #investment #facts #beginners # https://www.instagram.com/p/Bsds3j-gSDP/?utm_source=ig_tumblr_share&igshid=19mzi80ygw33v

[bitrealnews]

Over 1,000 Crypto Projects Disappeared During 2018’s Bear Market ⠀ 2018 was a hard year for virtual currencies and blockchain projects all over the world. According to data provided by Coinopsy and DeadCoins almost 1,000 crypto-related projects had to shut down their operations in 2018. Perhaps one of the most popular projects that disappeared is BitConnect.⠀ Crypto Projects Affected by the Bear Market⠀ According to data provided by DeadCoins, there are around 800 abandoned crypto tokens in the space. Coinopsy was able to discover 483 different projects that are not being developed anymore.⠀ ⠀ Coinopsy explained that a dead coin can be considered dead if it has been abandoned or scammed. On the matter, they wrote:⠀ “A token or coin that has been abandoned, scammed, website dead, no nodes, wallet issues, no social updates, low volume or developers have walked away from the project.”⠀ Coinopsy provides up to 0.1 ETH for accurate information provided about dead projects in the market. Users need to provide proof about the projects being abandoned. Coinopsy has also categorized the coins that are no longer operating in the market. Some of the categories are Joke Dead Coins, Abandoned Dead Coins, or Scam Dead Coins, among others.⠀ ⠀ Dead coins can also be considered those that rank below 1000 in terms of market capitalization for three consecutive months. At the same time, tokens that registered a trading volume below $1,000 for three months can also be considered dead.⠀ ⠀ The Wall Street Journal has also released valuable information about Initial Coin Offerings (ICOs). According to it, more than 15% of crypto projects that released funds using an ICO had plagiarized whitepapers or copied ideas. Some other ICOs were just offering too high returns that were not able to be materialized.⠀ ⠀ At the beginning of 2018, BitConnect (BCC) had to shut down its operations since they were accused of being a pyramid and Ponzi scheme. Since that moment, their virtual currency fell down from over $400 to less than $1. The company was not able to ...⠀ https://www.bitfeed.online/over-1000-crypto-projects-disappeared-during-2018s-bear-market/⠀ #technology #bitcoin #cryptocurrencyne https://www.instagram.com/p/BsTWmFLgpMc/?utm_source=ig_tumblr_share&igshid=irsfqi7gynvz

[bitrealnews]

Crypto-Friendly Statesman Takes Over Swiss Presidency ⠀ ⠀ This article was originally posted on Bitcoin News - delivering news related to the Bitcoin network from multiple locations around the world. For more follow the link below.⠀ ⠀ After serving as finance minister of one of the most economically influential nations over the past three years, Ueli Maurer is now starting his term as President of the Swiss Confederation. Given his track record and liberal views regarding fintech regulation, Maurer’s election is considered a positive development for the Alpine nation’s expanding crypto industry.⠀ ⠀ Also read: Owner of Romanian Exchange Coinflux to Be Extradited to the US⠀ Symbolic Role With Decisive Vote⠀ Ulrich ‘Ueli’ Maurer is one of seven members of the Swiss Federal Council. The body that holds the executive power in the country is headed by a rotating presidency shared among the councillors. The position is largely ceremonial and symbolic, but the president has one important role – his vote can tip the scales when the council is divided on important decisions. On Dec. 5, Maurer was elected by the Swiss parliament for a one-year term in 2019 with the impressive support of 201 out of 209 members.⠀ ⠀ ⠀ ⠀ Ueli Maurer⠀ ⠀ The 68-year-old trained accountant has been credited for his policies as head of the Federal Department of Finance controlling the public budget, Swissinfo reports. Maurer has also demonstrated capability to understand the changes that are taking place in the financial sector and the need to adopt liberal regulations for the industry built around blockchain technologies and cryptocurrencies. Digitalization is among the president’s top priorities as well.⠀ ⠀ Over the past few years, Switzerland has gradually become one of the most crypto-friendly jurisdictions in Europe and on the global stage. Last month, the Swiss government announced a comprehensive strategy recognizing distributed ledger technologies as an important develop ...⠀ https://www.bitfeed.online/crypto-friendly-statesman-takes-over-swiss-presidency/⠀ #technology #bitcoin #cryptocurrencies #neconomy #regulations #economyregulation #startups #digitalassets #switzerland #cryptovalley https://www.instagram.com/p/BsTWaR0gh4K/?utm_source=ig_tumblr_share&igshid=1n36z9kn9ngar

[bitrealnews]

Kraken Received 3 Times More Law Enforcement Requests in 2018 Cryptocurrency exchange Kraken has revealed that it has received three times more law enforcement requests in 2018 compared to 2017. The overwhelming majority of requesting authorities is in the US. ⠀ ⠀ ⠀ ⠀ A Chokepoint for Law Enforcement⠀ San Francisco-based cryptocurrency exchange Kraken has released an infographic displaying the increasing number of law enforcement requests received in 2018. As it turns out, the bear market is not the only thing to be concerned with.⠀ ⠀ ⠀ ⠀ Evidently, the exchange has received 475 law enforcement requests in 2018 – a number three times larger compared to 2017.⠀ ⠀ The overwhelming majority of requests are coming from authorities in the US, with the Homeland Security Investigations (HSI) leading the march with 91. The FBI has issued a total of 67 subpoenas, followed by the Drug Enforcement Administration (DEA) with 40.⠀ ⠀ “You can see why many businesses choose to block US Users. Cost of handling subpoenas (regardless of licenses) is quickly becoming a barrier to entry,” tweeted the exchange.⠀ ⠀ It’s noteworthy that back in April, Kraken’s CEO and co-founder Jesse Powell, expressed his thoughts on the matter of information requests on behalf of lawmakers:⠀ Having the kind of requested information “on hand” is not the same as having the resources to compile it neatly to fit to the framework of the request…⠀ ‘Cost Are Passed onto the Users’⠀ As seen on the infographic, there are 11 different departments in the US alone who are looking to enforce their regulatory framework upon the cryptocurrency market.⠀ ⠀ Commenting on the matter was the host of CNBC’s Cryptotrader Ran NeuNer, who commented:⠀ The cost of doing Crypto business in the USA as disclosed by Kraken. There are so many different and disjointed departments all looking to enforce their little piece of jurisdiction – ultimately these costs are passed onto the consumer.⠀ ⠀ The cost of doing Crypto busines ...⠀ https://www.bitfeed.online/kraken-received-3-times-more-law-enforcement-requests-in-2018/⠀ #bitcoin #technology #news #altcoins #newsteaser #cryptocurrency #companies #bitcoinregulation #regulations # https://www.instagram.com/p/BsTWV7KgX8z/?utm_source=ig_tumblr_share&igshid=axraiot6s6x7

[bitrealnews]

Blockchain Storage: Data Integrity Certification Is the Key The blockchain currently stores many types of transaction information such as A to B transfer information, temporary information, and other information that is temporarily occupying a large space because there is no other place to store it. Commercial blockchain applications deal not only with transactions, but also the business system logic which requires more abundant data, such as resource text data, numeric data, video media data, etc., which are not stored on the blockchain.⠀ Popular Blockchain Storage Projects⠀ Sia is the earliest storage, bitcoin-based storage solution. Storj is similar to Sia in that it pulls data from a network disk. It does not provide program-accessible storage. The way to prove data integrity is by having the customer and the storage party sign a contract. Both sides are likely to be in this situation. Cheating becomes expected to provide proof of data storage.⠀ The protocol lab project first made the open source software InterPlanetary File System (IPFS), which positions itself as the infrastructure of the new transport protocol. The IPFS network is similar to the P2P network that existed ten years ago, such as eDonkey and Thunder. There is no incentive mechanism for the IPFS network, so the post-protocol lab has launched a new project called Filecoin to provide decentralized storage incentives.⠀ Lambda, however, is a program-accessible storage solution. Its underlying protocols utilizes a basic file system with object storage, Key-Value (KV) storage, and other storage types. It may be extended to provide more complex relational storage.⠀ Filecoin utilizes a more mature IPFS network. On this basis, the incentives will involve the consensus of the blockchain. Those who contribute more will be rewarded more and are imperative to prevent cheating. The most important thing in the blockchain space is that all participants can benefit and the benefits are directly proportional to the eff ...⠀ https://www.bitfeed.online/blockchain-storage-data-integrity-certification-is-the-key/⠀ #technology #bitcoin #news #blockchain #blockchainnews #blockchainadoption #opinion #filecoin #lambda https://www.instagram.com/p/BsK4UMLAB0V/?utm_source=ig_tumblr_share&igshid=666gahitt535

[bitrealnews]

Thai Government Agency Develops Blockchain Tech for Elections Voting A Thailand government agency has developed a blockchain-based solution that’s set to digitalize elections voting in the country.⠀ According to a report from Bangkok Post on Thursday, Thailand’s National Electronics and Computer Technology Center (NECTEC), a unit of the Ministry of Science and Technology, has already completed the development of the system for blockchain-based voting and is looking for trial partners.⠀ Chalee Vorakulpipat, head of the cybersecurity laboratory at NECTEC, was quoted as saying in the report:⠀ ⠀ “Nectec developed blockchain technology for e-voting that can be applied to national, provincial or community elections, as well as business votes such as the board of directors. The goal is to reduce fraud and maintain data integrity.”⠀ ⠀ At this stage, the agency is looking to test the blockchain system on a smaller scale, such as for elections in universities, provinces and communities, and is seeking partners for the test.⠀ For large-scale implementation, such as for general elections, the agency will require more time as “every voter needs to have an affordable mobile internet connection and identity verification,” Vorakulpipat said in the report.⠀ Several countries have been looking to use blockchain technology for more efficient voting processes. Back in November, South Korea announced that it was set to test a blockchain system in an effort to improve the reliability and security of online voting.⠀ In August, the municipal government of Japanese city Tsukuba tested a blockchain-based system that lets residents cast votes to decide on local development programs.⠀ The U.S. state of West Virginia also planned to roll out a blockchain-based mobile voting app to all of the state’s 55 counties so that military personnel stationed overseas can more easily cast their ballots in the 2018 midterm elections.⠀ Voting box image via Shutterstock⠀ Source: https://www.coindesk ...⠀ https://www.bitfeed.online/thai-government-agency-develops-blockchain-tech-for-elections-voting/⠀ #technology #bitcoin #news #government #blockchaintechnology #elections #blockchainvoting #voting # https://www.instagram.com/p/BsK4Bt6gIa6/?utm_source=ig_tumblr_share&igshid=n10mgtrqpm5z

[bitrealnews]

Nvidia Faces Class Action Lawsuit Over Losses After Diminished Mining GPU Demand Graphics processing unit (GPU) producer Nvidia is facing a class action lawsuit over the losses reported by the company when lower crypto prices diminished demand for GPUs by miners. Schall law firm announced the lawsuit on Dec. 24.⠀ The complaint states that “the Company made false and misleading statements to the market.” Namely, according to the announcement, Nvidia “touted its ability to monitor the cryptocurrency market and make rapid changes to its business as necessary.” Shall states that the GPU producer also declared:⠀ ⠀ “Any drop off in demand for its GPUs amongst cryptocurrency miners would not negatively impact the Company’s business because of strong demand for GPUs from the gaming market.”⠀ ⠀ As Cointelegraph recently reported, after the cryptocurrency mining crash, Nvidia was the worst reported performer in S&P 500. After a massive sell-off of its shares, the stock price of the company fell by 54 percent.⠀ In mid-November, an analysis by Susquehanna — a United States -based global trading and technology firm — observed that mining Ethereum (ETH) using graphics processing units was no longer profitable.⠀ In the Susquehanna analysis, the profit per month for GPU Ethereum miners hit $0 by Nov. 1, down from nearly $150 in July 2017.⠀ Earlier this week, Japanese firm GMO Internet announced that they would be leaving the mining sector, citing extraordinary losses over the year.⠀ Source: https://cointelegraph.com/news/nvidia-faces-class-action-lawsuit-over-losses-after-diminished-mining-gpu-demand ⠀ https://www.bitfeed.online/nvidia-faces-class-action-lawsuit-over-losses-after-diminished-mining-gpu-demand/⠀ #bitcoin #technology #cryptocurrencies #mining #bitcoinmining #court #gpu #nvidia #bitfeed https://www.instagram.com/p/Br-84yJgKFT/?utm_source=ig_tumblr_share&igshid=3u0sl99n8n44

[bitrealnews]

Major American Magazine Time Column Reports About Bitcoin’s Liberating Potential Bitcoin (BTC) has a substantial liberating potential, American mainstream newspaper Time reports on Dec. 28.⠀ The aforementioned article claims that “speculation, fraud, and greed in the cryptocurrency and blockchain industry have overshadowed the real, liberating potential of Satoshi Nakamoto’s invention.”⠀ According to the article’s author, Bitcoin “can be a valuable financial tool as a censorship-resistant medium of exchange.”⠀ Alejandro Machado, a cryptocurrency researcher at the Open Money Initiative, reportedly said that the fee on a wire transfer from the United States to Venezuela can be as high as 56 percent.⠀ To circumvent such conditions, Venezuelans have reportedly turned to cryptocurrency, receiving Bitcoin from their relatives abroad. The main alternative is to wire money to Colombia, withdraw and bring cash to Venezuela, which according to the article, “can take far longer, cost more, and be far more dangerous than the Bitcoin option.”⠀ Times suggests that Bitcoin is a good way to protect oneself from fiat currency inflation. Venezuela is prime example of that, with the inflation of their native currency projected to top 1 million percent. But there are also other similar examples, like Zimbabwe, where former president Robert Mugabe “printed endless amounts of cash.” But the author points out:⠀ ⠀ “His successors can’t print more Bitcoin.”⠀ ⠀ Bitcoin is also, according to the article, a tool to evade mass surveillance in places like China. That being said, as Cointelegraph reported in March, according to U.S. whistleblower Edward Snowden, Bitcoin isn’t optimal for avoiding government coercion, and he believes that the world needs a better option.⠀ Times also points out the advantage given by the inability of governments to censor transactions or freeze Bitcoin wallets. In fact, Cointelegraph reported in April that WikiLeaks’ Coinbase acco ...⠀ https://www.bitfeed.online/major-american-magazine-time-column-reports-about-bitcoins-liberating-potential/⠀ #technology #bitcoin #cryptocurrencies #blockchain #government #usa #china #fraud #venezuela # https://www.instagram.com/p/Br-wMXQAvY2/?utm_source=ig_tumblr_share&igshid=1kzu2ojxdwnm6

[bitrealnews]

Covesting: The Perfect Social Trading Platform For Crypto Newbies ⠀ ⠀ There is not a soul on the face of this planet that doesn’t want to make money.⠀ ⠀ Isn’t that right?⠀ ⠀ But making money online is a different ball game, and when you talk about earning money from cryptocurrencies, it is even more challenging.⠀ ⠀ Well, challenging because you need the right set of tools and the mindset to trade in cryptocurrencies.⠀ ⠀ That’s why here at CoinSutra we keep recommending you some of the best tools that you need to trade cryptocurrencies.⠀ ⠀ And to do that, cryptocurrency exchanges are very integral, plus, there is a unique trend of social trading.⠀ ⠀ Social trading makes it possible for crypto investors, who don’t understand the charts and other things, to invest successfully in cryptocurrencies. That is because not everyone is good at using these tools. Therefore, you need a collaboration of investors and traders to make the most out of it.⠀ ⠀ Covesting is one such product. It does these two jobs by providing a highly competitive exchange for traders as well as the social trading environment for investors.⠀ ⠀ In this fundamental analysis of Covesting, we will discuss:⠀ ⠀ What Is Covesting?⠀ How Covesting Works⠀ COV Token Utility⠀ Covesting Team⠀ COV Token Supply & ZRX Market Cap⠀ Where To Buy COV Token ⠀ COV Token Wallets⠀ COV Usecase & Conclusion⠀ Official COV Resources⠀ ⠀ What Is Covesting?⠀ Covesting is a secure and intuitive trading platform which makes it possible for both beginners and professionals to trade cryptocurrencies smartly.⠀ ⠀ It is a mutually convenient platform for both traders and investors where traders support investors and investors reward professional traders for their support.⠀ ⠀ In a way, it is a win-win situation for both. Every investor cannot be a full-time trader and vice-versa.⠀ ⠀ How Covesting Works⠀ ⠀ ⠀ Covesting is not merely an exchange but a complete trading platform which gives its users access to high liquidity for selected cryptocurrency pa ...⠀ https://www.bitfeed.online/covesting-the-perfect-social-trading-platform-for-crypto-newbies/⠀ #bitcoin #technology #trading #investment #services #cryptotradin https://www.instagram.com/p/Br-v2VeAWgi/?utm_source=ig_tumblr_share&igshid=1vp600vtapu92

[bitrealnews]

Use Bitcoin! Customers Condemn PayPal After It ‘Bans’ The Hacker News ⠀ Cybersecurity news resource The Hacker News (THN) has become the latest PayPal user to have its accounts frozen without warning, the company has claimed.⠀ ⠀ ⠀ ⠀ ‘At Least One Valid Reason’⠀ In a series of tweets December 28, officials reported that funds from “all” its corporate accounts with the money transmitter were no longer accessible. ⠀ “(PayPal) has permanently banned all of our accounts without mentioning any reason and hold wallet funds wrongly for 180 days. Upon asking, (PayPal Support) also refused to share any details,” they wrote.⠀ Describing the situation as “frustrating,” THN also accused PayPal of failing to provide “at least one valid reason” for its actions.⠀ PayPal has often instigated funds blocking against corporate clients, including those involved in the cryptocurrency industry, without explanation.⠀ As Bitcoinist has reported, such blocks are part of the service’s terms of use, which include the caveat that users can be frozen out of their accounts without the company being required to explain why.⠀ ⠀ Instead of giving a valid reason, company says "specific reasons for such a decision is proprietary & it is not released since that could impair PayPal's ability to do business in a safe and secure manner"⠀ Seriously @PayPal????⠀ ⠀ You have to mention at least one valid reason.⠀ ⠀ — The Hacker News (@TheHackersNews) December 29, 2018⠀ Bitcoin Doesn’t Care⠀ Almost immediately after THN made the news public, Twitter commentators pointed it in the direction of Bitcoin as an alternative.⠀ The event comes amid a progressively changing mood to centralized payment providers among tech circles.⠀ The same day, TIME Magazine had published a pro-Bitcoin article focusing on its use as a circumventive method, specifically highlighting PayPal’s Venmo as an example of middlemen who “can potentially censor, surveil, and profit” from customers.⠀ The back ...⠀ https://www.bitfeed.online/use-bitcoin-customers-condemn-paypal-after-it-bans-the-hacker-news/⠀ #technology #bitcoin #news #newsteaser #companies #bitcoinbusinesses #paypal #paymentprocessors #centralization # https://www.instagram.com/p/Br-vtfRAo9m/?utm_source=ig_tumblr_share&igshid=1bb65jtexge3y

[bitrealnews]

Crypto Market Evolves: One-Tap Solutions are About to Disrupt the Industry Photo: Chatex⠀ ⠀ Modern economy is based on the main pillar – harmonization. Alas, cryptocurrency market is an ever-evolving environment, where harmonization and simplicity are ignored by exchanges and other crypto-related businesses. There’s still a sort of technological threshold that many would-be crypto enthusiasts face while entering the market. Protracted registration procedures, unfriendly interfaces and non-transparent approaches to storing only make crypto sketchy for mere mortals.⠀ People are Skeptic about Crypto – that Needs to be Changed⠀ Unsurprisingly, it’s no easy task to get layman users involved into the crypto market. Many are unlikely to operate with crypto, because they just do not understand the very essence of crypto and the way it is transacted and stored. Michael Ross-Johnson, a CEO of Chatex, an Estonia-based company, which recently launched its Telegram-based p2p crypto exchange, comments:⠀ ⠀ “Crypto community seeks for complex solutions that will allow to obtain, trade or sell crypto anytime, anywhere. However, many ‘greenfield’ projects are just not able to cut through the noise with their seemingly user-friendly and at the same time secured solutions. You may ask why, but the answer is simple: having witnessed a great number of scams and vulnerable projects, in 2018 community takes crypto startups with a pinch of salt.”⠀ ⠀ Is There a Solution?⠀ Offering something to crypto enthusiasts without eventful roadmap and strong partnerships with giants is impossible, and hardly anyone could argue. Chatex is one of a few pioneering projects which is already supported by respective giant.⠀ On October 15th, the company launched its universal click-and-go crypto exchange, that operates with institutional-grade, cold-storage, multi-signature BitGo wallets for each type of cryptocurrency. Chatex bot is available to anyone with a standard smartphone, laptop or ...⠀ https://www.bitfeed.online/crypto-market-evolves-one-tap-solutions-are-about-to-disrupt-the-industry/⠀ #technology #bitcoin #news #cryptocurrencies #altcoins #bitcoinbtc #guestposts #startups #facebook # https://www.instagram.com/p/Br-bKtlgUfB/?utm_source=ig_tumblr_share&igshid=iiwnktzknvbc

[bitrealnews]

[bitrealnews]

Chatter Report: Vitalik Doesn’t Believe in Proof of Work, Chris Pacia Discusses Big Blocks ⠀ ⠀ ⠀ ⠀ ⠀ In this latest roundup of crypto chatter from social media, Vitalik Buterin sparks debate by declaring that he doesn’t believe in proof of work. Also, developer Rhett Creighton is accused of foul play in the Bitcoin Private pre-mine scandal. Finally, Chris Pacia clarifies his stance on large block limitations.⠀ ⠀ Also read: A Look at Some of 2018’s Most Popular Cryptocurrency Traders⠀ Vitalik Doesn’t Believe in Proof of Work⠀ Ethereum founder Vitalik Buterin turned a lot of heads recently when he tweeted to Bitcoin maximalist Giacomo Zucco that he doesn’t “believe in proof of work.”⠀ ⠀ I don't believe in proof of work!⠀ — Vitalik Non-giver of Ether (@VitalikButerin) December 25, 2018⠀ Crypto Twitter erupted with responses. One commentator, Crypto Domains, pointed out the ridiculousness of Vitalik’s comment, comparing it to not believing “in oxygen.” Crypto Domains’ remark resonated widely, not least since Ethereum itself currently runs on a proof of work model.⠀ Bitcoin Community Skeptical of Rhett Creighton⠀ The Bitcoin Private team recently released an official statement explaining that they had no prior knowledge of the BTCP coins that were covertly created during the fork that birthed the project. Instead, they were mislead by developer airk42, they insist. Airk42 had started out innocently by accepting a bounty the team had placed. He then managed to became a BTCP developer and was promoted to contributor on Github. However, when airk42 merged his own code, he left out one crucial line and a bad actor exploited this bug, creating approximately 2 million additional coins.⠀ ⠀ Many in the cryptocurrency community were suspicious of the BTCP team and their official response. In a recent live stream by bitcoin trader Tone Vays, developer Jimmy Song pointed out that former BTCP developer Rhett Creighton left the project in a rather cryptic manner t ...⠀ https://www.bitfeed.online/chatter-report-vitalik-doesnt-believe-in-proof-of-work-chris-pacia-discusses-big-blocks/⠀ #bitcoin #technology #news #nfeatured #cryptocurrency #bch #eth #vitalikbuterin #bsv # https://www.instagram.com/p/Br5Bd31gr1D/?utm_source=ig_tumblr_share&igshid=1b0i9g0o56546

[bitrealnews]

Bitmain Layoffs Could Pull Down Bitcoin Cash and Litecoin Prices in 2019, Says Crypto VC Photo: Trung Kien / Flickr⠀ ⠀ Bitmain, the world’s largest manufacturer of ASIC chips for Bitcoin mining, is reportedly running out of money, that’s why its operations across mining and blockchain development have been stopped. Therefore there are rumors about the company laying off half of its staff. The layoffs will likely occur across all divisions, but those working on newer investments like artificial intelligence and blockchain technologies are expected to be impacted most.⠀ Bitmain has already fired the entire Copernicus team which was working on the development of a new Bitcoin Cash client.⠀ Bitmain commented:⠀ ⠀ “A part of that is having to really focus on things that are core to that mission and not things that are auxiliary. As we move into the new year we will continue to double down on hiring the best talent from a diverse range of backgrounds.”⠀ ⠀ Kyle Samani, the co-founder of crypto fundMulticoin Capital, has made a guess that such a situation may soon lead to Bitmain liquidating its crypto stockpile, including lots of Litecoin (LTC) and Bitcoin Cash (BCH) tokens.⠀ ⠀ This is extremely bearish for BCH and LTC⠀ The only reason to make cuts this drastic are because you're about to run out of cash⠀ Meanwhile, they still have 1 BCH and 1M LTC on their balance sheet. Those are going to be liquidated soon to keep the lights on https://t.co/kneSRcK2li⠀ — Kyle Samani (@KyleSamani) December 26, 2018⠀ ⠀ The current Bitmain’s holding is unknown, however, a leaked financial document revealed in August that Bitmain  holds 930,932 Litecoin (approximately $28.6m), 1,021,316 Bitcoin Cash (approximately $176.7m), 22,082 Bitcoin (about $83.3m), 312,424 DASH (approximately$26m), and 1,097 Ethereum (~$142k) tokens. In general, Bitmain has $316 million worth of cryptocurrency reserves.⠀ If Bitmain really ran out of money, selling off holdings would take ...⠀ https://www.bitfeed.online/bitmain-layoffs-could-pull-down-bitcoin-cash-and-litecoin-prices-in-2019-says-crypto-vc/⠀ #technology #bitcoin #news #cryptocurrencies #altcoins #ethereum #companies #btc #bitcoincash # https://www.instagram.com/p/Br5BCK8Apw0/?utm_source=ig_tumblr_share&igshid=1q8xa8tq2oz6b