Monthly Archives: June 2018

Bitlicense Should be Smashed, Candidate for New York Governor Urges

Since the infamous Bitlicense was put into effect, the ecosystem has fought for its removal. It turns out to be much harder in practice than in theory to oust a law once it’s put into effect. The good news is groups like Startup Cities are on the case. They’ve snagged a candidate for governor to champion their cause, and they’re even holding a rally in mid July to help galvanize support for putting down a notoriously bad idea. Also read: Troll Slayer: Derek Magill Defends Peer-to-Peer Electronic […]

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Bitmain Nears 51% of Network Hash Rate: Why This Matters and Why It Doesn’t

Recent Bitcoin block data shows that Bitcoin’s mining pools BTC.com, AntPool and ConnectBTC, respectively mined about 25.7 percent, 16.1 percent and 0.2 percent of all new blocks over the past week. This makes for a combined hash rate of 42 percent; an all-time high for the Chinese mining giant’s mining pools. Several media sources have since covered this news, reporting that this near-dominance is a major risk to the Bitcoin network. How true are these claims? 51% Attacks When mining bitcoin, new blocks are produced by mining […]

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Could You Be Mining Without Even Realizing It?

Bit Of Background It’s been another big year for Cryptocurrencies this year with many more groundbreaking moments taking place. This is all set to continue too. Sadly, a lot of the news has however focused on one of the major negatives of this new digital economy – fraud / scams. There have been almost daily articles highlighting another massive loss of money or fraudulent attempt to Crypto mine navigating around the national grid power supply meters or stealing power from computers. In fact in this latter case, […]

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Coinbase CEO Brian Armstrong Launches Cryptocurrency Charity Fund

On June 27, 2018, Coinbase CEO Brian Armstrong announced his new cryptocurrency charity fund, GiveCrypto. Armstrong established the philanthropic venture to financially empower people with direct cryptocurrency distributions. Armstrong and partner Rose Broome, previously co-founder and CEO of HandUp.org, have already raised $1 million from prominent cryptocurrency community members. They plan to raise $10 million by the end of 2018 and $1 billion over a two-year time frame. Purpose The nonprofit’s mission is to give 100 percent of its cryptocurrency contributions to impoverished people, an altruistic goal […]

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Korea’s Kakao Corp. Considers Private Placement to Raise Funds for Blockchain Subsidiary

Ground X, the blockchain subsidiary of Kakao Corporation, is considering offering a private placement to raise funds. South Korea’s messaging app operator Kakao Corp. is considering offering a private placement to attract investors to develop their blockchain subsidiary, Bloomberg reports today, June 28. Kakao Corporation’s blockchain initiative, the Tokyo-based Ground X, was announced at the end of March as part of the messaging app operator’s new Kakao 3.0 business plan aimed at the wider Asian markets. Bloomberg writes that Ground X aims to release a test version […]

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Germany’s SolarisBank to Serve Blockchain and Crypto Companies

German solarisBank will cooperate with blockchain and crypto companies from Europe. Crypto and blockchain companies from the European Economic Area (EEA) can now conduct business through the fully licensed German solarisBank, Cointelegraph auf Deutsch reports Thursday, June 28. With its ‘Blockchain Factory,’ solarisBank offers its customers a so-called ‘blockchain company account’, which can only be opened in fiat currencies. These accounts are intended for the banking needs of blockchain companies, which are still not met by most German banks, according to Cointelegraph auf Deutsch. In addition, with […]

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Trustless Bitcoin Cash Betting is Coming — Chainbet Reveals Working Prototype

Just recently, news.Bitcoin.com reported on the trustless betting concept called Chainbet designed by the Electron Cash lead developer Jonald Fyookball. Since then, Chris Pacia performed the first atomic bet on the Bitcoin Cash network and now the project is seeing contributions from other developers as well. Now the programmers have revealed they have developed a working prototype that executes BCH wagers in a decentralized and trustless fashion. Also read: Cryptocurrency Firm Circle Sees Institutional Interest Spike 30% Chainbet Developers Produce a Working Prototype The protocol Chainbet is moving […]

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South Korean Financial Watchdog Releases Stricter AML Guidelines for Virtual Currencies

South Korea’s financial regulator releases a new set of AML guidelines for transacting in virtual currencies. South Korea’s top financial regulator has released a set of revised anti-money laundering (AML) guidelines for virtual currencies, according to a press release published this week. The press release notes that the Financial Services Commission (FSC) conducted on-site inspections of three domestic banks – Nonghyup, Kookmin, and Hana Bank – the results of which prompted the update to AML guidelines. The new guidelines note that cryptocurrency exchanges must conduct Customer Due […]

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Silk Road’s Ross Ulbricht Denied Review of Prison Life Sentence by Supreme Court

Ross Ulbricht, currently serving a life sentence for his participation in the now-closed Silk Road marketplace, has his sentence review denied by the Supreme Court. The U.S. Supreme Court has denied the review of the life sentence of Ross Ulbricht, also known as the “Dread Pirate Roberts” of the Silk Road darknet marketplace, according to a court order released today, June 28. Twitter account @free_ross tweeted the news today, calling the court’s decision “devastating:” “SCOTUS denied #RossUlbricht cert petition this morning after holding it pending Carpenter. This […]

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Crypto Markets Budge Little, Bear Trend Shows Scant Signs of Reversal

Crypto markets are seeing little momentum today, June 28, with price fluctuations of within a 2 percent range among all of the major cryptocurrencies. Crypto markets are seeing little momentum today, June 28, as data from Coin360 shows, with price fluctuations of within a 2 percent range among all of the major cryptocurrencies. Market visualization from Coin360 Bitcoin (BTC) is trading around $6,099 at press time, down just a fraction of a percentage point over the 24-hour period. Earlier this week, on June 24, BTC plummeted to $5,833, […]

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