Monthly Archives: July 2020

Christophe Cieters: Monopoly Money

As money developed and people opted to place it in secured storage, banks started issuing banknotes which represented a client’s deposit at the bank and the promise to redeem each note for the amount of gold it represented at a 100% reserve rate. **The following essay was written by Christophe Cieters and published on March 3, 2016. “Monopoly Money” was originally published on the website notbeinggoverned.com, and is reprinted here on Bitcoin.com for historical preservation. The opinions expressed in this article are the author’s own. Bitcoin.com is […]

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Cryptocurrency News From Japan: July 5 – July 11 in Review

Tosei real estate and Tokyo Financial Holdings issued an asset-backed digital financial product, Coinage registered with Japanese authorities as an exchange and more headlined news from Japan this past week. This week’s headlines from Japan included real estate player Tosei and Tokyo Financial Holdings listing an asset-backed digital financial product, Cointelegraph Japan interviewing a former Japanese central bank staffer, Coinage registering as an exchange with Japan’s financial services agency, and a life insurance company testing digital asset billing transaction.  Check out some of this week’s crypto and […]

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Hacker stole 336 BTC from Crypto exchange Cashaa

Cryptocurrency exchange Cashaa said hackers took 336 bitcoin from one of its wallets. The company has stopped all crypto-related transactions. U.K. based cryptocurrency exchange Cashaa reported hackers took more than 336 Bitcoin. The company has stopped all the crypto-related transactions, however, prima facia users are not affected by this hack.  In a media brief shared with Cointelegraph, Kumar Gaurav, CEO of Cashaa said that one of their wallets was compromised and more than 336 Bitcoin was sent to the hacker. He also suspects that hacker is from […]

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To Accelerate Cryptocurrency Adoption, We Must First Improve User Experience

Cryptocurrency adoption is inevitable, but without strengthening our approach to user education, the process will be slow. Only with increasing difficulty can one recall a time when the majority of the world was yet to adopt the internet. In 1995, user adoption of the internet had​ ​only reached​ 10% of American households, five years after the very first web browser was launched. Another five years later, in the year 2000, 50% of the United States nation had already adopted the internet. Imagining today’s world without internet is […]

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OCC Seeking to Remove Structural Barriers to Financial Inclusion

The OCC launched a project to identify ways to improve financial inclusion and remove barriers to credit access. The Office of the Comptroller of the Currency, or OCC, launched a project aimed to improve financial inclusion of underserved populations. Called REACh, which stands for Roundtable for Economic Access and Change, will bring together banking industry leaders and national civil rights, business and technology organizations to identify and reduce barriers and increase access to capital and credit. The group met on July 10 to start looking for projects […]

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Chinese Authorities Confiscate $15 Million in Cryptocurrencies, Arrest 10 Scammers

Chinese authorities have seized cryptocurrencies worth about $15 million while bringing down a scam involving fake Huobi tokens. In addition, ten people were arrested while luxury cars and real estate were confiscated. The police in the Chinese city of Wenzhou, Zhejiang province, have cracked a criminal case and seized millions of dollars worth of cryptocurrencies, local media reported Thursday, calling the case the country’s “first criminal case involving smart contracts.” The authorities began investigating the case after receiving a complaint in April from Li, a Chinese citizen […]

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Bitcoin Price Ready for $10K Retest as Algorand, Tezos Continue Surge

Even though Bitcoin price has shown some weakness, key support levels are holding as BTC prepares for another shot at $10,000. The price of Bitcoin (BTC) has been showing weakness throughout the week. However, the key support level is holding up, and this triggered the continuation of many altcoins such as Tezos (XTZ) and Algorand (ALGO), which are soaring on July 11, gaining over 9% and 17%, respectively.  The massive surges in altcoin price usually occur when Bitcoin remains calm and this is what we have seen […]

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Startup Helps Reduce Child Labor in Africa & Aspires to Work with Tesla

A blockchain startup helps car manufacturers ascertain that the raw materials they use are not produced by children. Recently, the venture arms of corporate giants Volvo and Total invested in blockchain traceability startup Circulor that helps reduce child labor in Africa and aspires to work with Tesla, GM and Ford. Prior to an investment by its venture arm, Volvo was testing Circulor’s platform for over a year. The startup was helping the carmaker to verify the origins of cobalt used in its batteries. Cobalt, as is with […]

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DOGE Tik Tok Pump Likely Over, OKCcoin CMO Says

With Dogecoin’s price falling, OKCoin’s CMO says the Tik Tok-fueled asset pump appears over. Dogecoin’s (DOGE) price has fallen notably after social media enthusiasts promoted the asset for days on Tik Tok in an effort to send the asset to $1. The escapade shows signs of conclusion according to OKCoin CMO Haider Rafique.   “The Doge/Tik Tok effect is really down to the vitality of the Tik Tok platform, more than the crypto industry, as it thrives off of creating viral challenges – a category in which this Dogecoin […]

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Decentralized File Sharing, Explained

What is decentralized file sharing, how does it work, and what are the main benefits of a peer-to-peer sharing model? Are there decentralized file sharing use cases already in operation? Two examples where IPFS has been used are with Wikipedia and the Android version of the Opera browser. The Turkish government previously attempted to ban Wikipedia, citing it as a national security threat. Hacktivists uploaded a version of Turkish Wikipedia and posted it using IPFS as a way of circumventing the ban. IPFS has also been integrated […]

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