Monthly Archives: November 2019

Former PBoC Head: China’s Digital Yuan Will Favor Payments and Retail

China’s digital currency approach will favor international payments and domestic retail system, former PBoC governor Zhou Xiaochuan said. China’s digital currency approach will be favoring international payments and domestic retail system, a former senior official said. Zhou Xiaochuan, the president of the Chinese Finance Association and former governor of the People’s Bank of China (PBoC), outlined two types of implementations of central bank digital currencies (CBDCs) speaking at the 2019 Caixin Hengqin Forum, local publication Caixin reports Nov. 26. The first type is an electronic payment-oriented domestic […]

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New Crypto-Stealing Malware Infected 80,000 Computers, Microsoft Says

Microsoft security analysts reveal that cryptocurrency-stealing malware “Dexphot” already infected 80,000 computers earlier this year. The Microsoft Defender ATP research team shares insights on a new cryptocurrency-stealing malware variant that has infected close to 80,000 computers. On Nov. 26, Microsoft security analysts revealed that the malware, called Dexphot, had already infected close to 80,000 devices since October 2018, reaching its peak in the month of June of this year. The malicious code reportedly hijacks legitimate system processes to disguise its nefarious activity, with the ultimate goal of […]

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Another Research Paper Finds Flaws With the Lightning Network

On November 21, researchers from Hungary and Institute for Computer Science and Control published a critical examination of the Lightning Network, the protocol intended to amend BTC’s scalability issues. The researchers’ simulation findings indicate the Lightning Network is “economically irrational for the majority of the large routing nodes who currently hold the network together.” Also Read: Report: Lightning Network Still Way off Being Ready for Commercial Use Current Lightning Network Routing Is Not Economically Viable Many BTC supporters have long believed that the Lightning Network (LN) will […]

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Op Ed: Want to Learn About Bitcoin? Try Contributing a Transcript

Continuing the series on the various ways one can learn about the technical aspects of Bitcoin, in this article we will focus on transcripts and contributing to or reading the archive of transcripts maintained by Bryan Bishop (kanzure). In the early years of Bitcoin’s history, all communication involving Satoshi Nakamoto occurred online on mailing lists, IRC and the BitcoinTalk forum. These years are well archived by the Satoshi Nakamoto Institute. There are no recordings of Satoshi speaking, presumably as they could have been used to identify him. […]

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Can Crypto Platforms Help Loyalty Schemes in Shops Make a Comeback?

Consumers are increasingly being turned off by the loyalty schemes offered by major retailers. Can crypto-based platforms help turn this around? Retailers have been offering loyalty schemes for decades — but ensuring they are attractive enough to generate repeat customers is easier said than done. Bond’s Loyalty Report, which surveyed 55,000 consumers in 2019, exposed these challenges in a stark way. Although 73% of those polled said they were more likely to recommend a brand with a good loyalty program, personalization is proving crucial for keeping these […]

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South Korea Progresses Bill to Provide Legal Foundation for Cryptocurrencies

The South Korean National Assembly has progressed a bill to provide a legal foundation for cryptocurrencies in the country. South Korea’s National Assembly is progressing a bill that will provide a legal basis for cryptocurrencies in the country. The bill categorizes virtual currencies as digital assets and intends to bring regulatory clarity and transparency to crypto markets in South Korea, English-language newspaper Korea JoongAng Daily reports on Nov. 27. According to the report, the bill was passed by the National Assembly’s national policy committee and still needs […]

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Bitcoin ATM Firm Partners With Largest Shopping Mall Operator in US

Bitcoin ATM firm Bitstop partnered with the largest American shopping mall operator Simon Malls to install a Bitcoin ATM at several of its locations. Miami-based Bitcoin (BTC) automatic teller machines (ATM) firm Bitstop has partnered with the largest shopping mall operator in the United States, Simon Malls, to install Bitcoin ATMs at several locations.  BitStop announced on Nov. 26 that the firm has already installed Bitcoin ATMs at five Simon Malls locations in California, Florida and Georgia. Bitstop co-founder and CEO Andrew Barnard said that the machines […]

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Ripple-Backed Omni Rentals to Shut Down by Late 2019: Report

Omni Rentals, a $35 million-funded storage and rental startup backed by major crypto firm Ripple, is reportedly shutting down its operations. Omni Rentals, a $35 million-funded storage and rental startup backed by major crypto firm Ripple, is reportedly shutting down its operations. As Omni is expecting to close its platform by the end of 2019, about 10 of Omni’s engineers will be hired by major American crypto exchange and wallet service Coinbase, tech-focused publication TechCrunch reports Nov. 25. Omni has not made an official closure announcement at […]

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US CFTC Obtains Over $1.3B in Administrative Penalties in 2019

The U.S. CFTC has obtained over $1.3 billion in administrative penalties in the fiscal year 2019, which included funds collected from cryptocurrency operators. The United States Commodity Futures Trading Commission (CFTC) has obtained over $1.3 billion in administrative penalties in the fiscal year 2019, which included funds collected from cryptocurrency operators. According to the CFTC’s annual report for the 2019 financial year, the regulator obtained monetary relief in its enforcement actions — including in the form of civil monetary penalties, disgorgement, and restitution — totaling $1,321,046,710. The […]

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Travala Partners With Booking.com – 90,000 Crypto Accepting Destinations Added

On Monday, the cryptocurrency-accepting online travel agency and metasearch engine Travala announced a strategic partnership with the firm Booking.com. According to Travala the collaboration adds Booking.com’s accommodation listings to the Travala portal, adding 90,000 destinations to over 230 countries worldwide. Also read: With Christmas Approaching, Here Are Some Travel Sites Accepting Crypto Travala Partners With Accommodation Aggregator Booking.com During the last few years cryptocurrencies have been adopted by lots of companies, and crypto users can now spend their assets on all types of goods and services. The […]

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