Top Crypto News – 28/06/2018

Exclusive: Coinbase Will Add GBP Support to Ease Withdrawals in UK

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The Coinbase UK CEO has confirmed that support for GBP withdrawals and deposits will be rolled out over the next few weeks. In an interview with NewsBTC, he also said that Coinbase Custody has had a ‘lot of interest’ and that they have had to restrict how many investors they can take on.

Support for GBP Payments Incoming

Coinbase UK CEO Zeeshan Feroz said that Coinbase will be supporting GBP wires in the next few weeks. At present, Coinbase use Estonian bank LHV to process payments which are all done in euros. UK users have to withdraw euros from Coinbase using SEPA transfers or via mobile banking apps such as Revolut.

In March, Coinbase partnered with UK bank Barclays which opened them up to both GBP payments and the Faster Payments Scheme. This is one of the first collaborations where a UK bank has agreed to accept money that was previously held as a cryptocurrency.

Feroz told NewsBTC: “The biggest thing for me is rolling out access to faster payments for UK consumers. It’s been a huge challenge for us and I think it was a good result for us to get access to that. Over the next few weeks, we’ll be rolling that out for all customers. UK users will be able to deposit Sterling and withdraw Sterling out into their bank accounts using faster payments.”

Huge Interest by Institutional Investors

Currently, 6% of Bitcoin transactions are made in GBP and the UK economy is the fifth largest by GDP. Feroz has previously pointed out that the UK market is the largest in Europe. However, Coinbase are not just looking to attract individuals but have recently launched a suite of products aimed at instituitonal investors.

On Coinbase Custody, he said: “We have had a lot of interest in custody. We have a pipeline of business, we selected a handful that we’re launching with and we will look to add more on. At the minute, we’re restricting the funnel as to how much we can take on until we feel the project is mature and we’ve taken on the first few customers and ironed out the initial kinks. Then we’ll open it up more.”

When asked if Coinbase will always support the same coins and tokens on both their consumer products and their instituional products, Feroz made reference to recently-acquired Paradex, an exchange based on the 0x protocol which offers support for ERC20 tokens. Coinbase also said recently that they plan to support ERC20 tokens.

Feroz said: “We will start to take a product-specific view in terms of the regulatory profiles of coins and the service they’re providing and if that allows us to extend it beyond the four coins we have, then that’s what we’ll do. You will see our businesses as they grow, the coins supported will maybe diverge. One example of that is Paradex which today is live in Europe with eight coins.”

Feroz also said that while they are looking for regulatory certainty, it is not getting in the way of adding new tokens. He said Coinbase will ‘continue to look into tokens that aren’t securites and add them in the future.’ Pointing out their new broken-dealer and ATS licences in the US, he said that they will be able to offer tokens that are registered with the SEC.

Written by News BTC

 

Decentralizing Popular Dapps Isn’t Just a Scaling Problem

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It’s no secret that building large-scale, fully decentralized applications is a challenge, but it turns out the hurdles have to do with more than just scaling.

Decentralized application or “dapp” developers frequently hit roadblocks, since ethereum – the go-to platform so far in dapps’ short history – can process only around 25 transactions per second, and the more transactions the network is asked to handle, the more each one costs the user. These limitations on transaction throughput are commonly referred to as “scaling” limitations, and everyone from the casual dapp user to ethereum founder Vitalik Buterin is keenly aware of them.

So when a particular dapp turns out to be less-than-totally decentralized, with parts of the software running on centralized servers, say, the solution seems obvious – speed up transaction throughput and reduce costs, and pure, blissful decentralization will naturally follow.

Turns out, though, things aren’t that simple.

Some of the most popular dapps that currently live on ethereum – which right now fall into two categories, games and exchanges – often retain centralized features, but the reasons have little to do with throughput and instead, revolve around user experience.

Take games – for developers to be able to make updates to a blockchain-based game, they typically put backdoors into the smart contracts.

Otherwise, said James Duffy, a co-founder of Loom Network, which develops ethereum-based dapps including a Q&A site called DelegateCall, developers would only be able to deploy their dapp once and never be able to modify it.

“Obviously if you’re a player in the game you want the developers to be able to update it. You want them to be able to fix bugs, add new levels, add new features,” Duffy said.

On the other hand, decentralized exchanges (DEX) keep some centralization in their processes as it relates to their order books. The reasons for this approach have to do partly with security and partly with the difficulty of assembling a single, reliable order book across a large, distributed network of computers.

And while most of these dapp projects aim to decentralize further in the future, for now, they’re happy to work slowly through that process so that users have the best experience and don’t lose money.

Duffy told CoinDesk:

“No one’s ever built a complicated app and then launched it and it just worked perfectly on day one.”

The back door dilemma

CryptoKitties was the first decentralized application to gain widespread attention and a significant userbase.

It didn’t take long, however, for critics to notice that the game is not as decentralized as it initially seemed. Another Loom Network co-founder, Luke Zhang, wrote about the backdoors in the CryptoKitties code, which allows the company behind the game to pause it entirely or alter its closed-source breeding algorithm.

While the CryptoKitties team contends that keeping the breeding algorithm a secret makes the game more fun, this choice does mean users have to trust the company itself not to tweak the algorithm in a way that would undermine the market’s pricing of kitties (some of which are very rare and in turn very expensive).

Another piece of the Cryptokitties game that was under the company’s control, until very recently, was the art assets.

Without these, a player would still own that kitty they paid 250 ether for, but instead of being able to admire its green eyes and Himalayan, orange soda-colored fur, they’d have to admire the number sequence encoded in the non-fungible token that’s at the core of the game: 99ac5586a447g9gg44665775ddf71444488773384ccccdffc.

Cute, right?

But according to Duffy, without this centralized control of the art, developers and players might abuse the privilege.

“What happens if someone uploads something illegal, like child pornography or something?” he said. “The nodes would have to have a way of censoring that to remove that data, or it would just be a complete free-for-all.”

And yet, CryptoKitties seems to be ready to take somewhat of a chance on this – on June 26 the company, now known as Axion Zen, announced that it had updated its terms of service, making it possible for third-party applications to use CryptoKitties art. And not only that but it was open-sourcing the ownership rights of the non-fungible tokens.

Still, it’s a far cry from complete decentralization, and Duffy acknowledged that there are potential pitfalls in CryptoKitties’ approach to its business model. But he said that launching a semi-centralized dapp and decentralizing it over time is “pragmatic.”

Kyle Samani, the managing partner of Multicoin Capital, echoed Duffy’s statements, saying, “Decentralization is generally a spectrum.” He called criticism of CryptoKitties’ centralized aspects “nit-picky.”

Duffy held out hope for more complete decentralization, though.

For instance, he argues that Loom Network’s approach – building a dedicated, scalable sidechain for each dapp and pegging that chain to ethereum – would enable full decentralization without having to settle for fossilized games that never add new levels or features. Updates could be made through hard forks, assuming players could come to a collective agreement.

Making a prediction, Duffy said:

“We’re going to see actual, real, fun games that are normal games that people want to play, except that they’re actually owning the in-game assets and they can do this on a fully decentralized platform.”

Order book blues

Centralized exchanges have been cryptocurrencies’ Achilles’ heel since the early days of bitcoin – MtGox being the most famous example of what can go wrong when transparent, decentralized ledgers meet opaque, centralized intermediaries.

For this reason, advocates of decentralization have long tried to build distributed alternatives. Examples on ethereum include Idex and ForkDelta, which according to DappRadar are the first- and second-most trafficked dapps over the past 24 hours.

The only problem is that both of these exchanges use centralized order books, as do most of their peers, according to Taariq Lewis, a veteran cryptocurrency developer who is building DEX technology – codenamed Lyra Protocols for now.

These centralized order books, which collect “bids” (prices offered by buyers) and “asks” (prices offered by sellers) to facilitate trades, are the norm in traditional markets.

Despite strict regulation, however, shenanigans abound on traditional exchanges. Spoofing, front-running and layering are just a few of the (illegal) tricks traders use to take advantage of each other, and this behavior is prevalent – if not worse – on crypto exchanges.

“Unregulated centralized order books are manipulation havens,” said Lewis.

A person familiar with DEX operations, who asked not to be named, added that some exchanges see order book decentralization as a way to avoid regulatory interventions. Exchanges operating centralized order books must either register as Alternative Trading Systems or avoid listing securities – which, as is becoming increasingly clear, many crypto tokens are.

Decentralizing order books, however, is anything but simple. Traders need a main order book that is visible to everyone, Lewis said, and ensuring that everyone sees the same bids and asks without a central intermediary is “an unsolved problem.”

He continued, “It’s not trivial. A lot of these things folks have been working on for decades, well before blockchain.”

Adding to these technical difficulties, Lewis said, decentralized order books can be easy targets for Sybil attacks – whereby one user or group of users creates hundreds if not thousands of identities in an effort to spam the network with information.

Still, exchanges such as Idex and ForkDelta have said they plan to decentralize their order books when the technology enables them to.

Lewis did not want to reveal too much about Lyra Protocols, but said the project was “looking into” attack-resistant, distributed order books. And Duffy said that a number of DEXs have reached out to Loom Network wanting to take advantage of dedicated sidechains for the purpose of decentralizing more of their processes.

As such, Duffy expressed confidence, saying:

“Give it a couple years and I’d say it’ll definitely be the case, just because it’s possible and if users demand it, then someone’s going to fill that demand.”

Chalk drawing image via Shutterstock
Written by CoinDesk.com

US House Unanimously Passes Bill to Help Fight Illicit Use of Cryptocurrencies

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H.R. 6069 Bill Passed

US House Unanimously Passes Bill to Help Fight Illicit Use of CryptocurrenciesThe U.S. House of Representatives has passed Bill H.R. 6069, known as the “Fight Illicit Networks and Detect Trafficking Act.”

The bill was considered by the House on Monday, June 25, and “passed unanimously,” according to California Rep. Juan Vargas, the representative who jointly introduced the bill with Rep. Keith Rothfus, announced.

The Republican Policy Committee website describes:

H.R. 6069 would require the Government Accountability Office (GAO) to carry out a study on how virtual currencies and online marketplaces are used to buy, sell, or facilitate the financing of goods or services associated with sex trafficking or drug trafficking. The GAO study would also examine how virtual currencies can be used to detect and deter these illicit activities.

US House Unanimously Passes Bill to Help Fight Illicit Use of CryptocurrenciesAfter passage of the bill, Rep. Rothfus released a statement saying, “Illicit markets where drug and human trafficking take place are constantly evolving, especially on the dark web…Cryptocurrencies can mask traffickers’ transactions, affording them a level of anonymity when conducting illegal activities.” He added that “This bipartisan legislation will help the government expose new criminal methods to move illicit funds, and provide ways to stop them.”

Bill Aimed at Fighting Illicit Use of Crypto

US House Unanimously Passes Bill to Help Fight Illicit Use of CryptocurrenciesWhile acknowledging that “Virtual currencies, such as bitcoin, dash, zcash, and monero, can be used for legal purchases,” the Committee website noted, “It has also been reported that virtual currencies are being used to run illegal online marketplaces to sell drugs, including the opioid fentanyl, and contributing to the opioid crisis in America.”

The Republican Policy Committee further claims, “according to recent reports, transnational criminal organizations are increasingly using virtual currencies for illicit activities, including drug trafficking,” citing the US Drug Enforcement Administration’s 2017 National Drug Assessment.

According to Rep. Vargas:

The anonymity behind virtual currencies has made them a preferred payment method to carry out illegal activities…Congress must understand the full extent of how virtual currencies are being used to facilitate drug and sex trafficking and propose legislative solutions to fight these crimes.

After the passage of the bill, Vargas commented that “this bill is an important first step in helping Congress understand the full extent of how virtual currencies are being used to facilitate drug and sex trafficking and will help us propose effective legislative solutions to fight these crimes. I hope to see the same level of support for this legislation in the Senate.”

US House Unanimously Passes Bill to Help Fight Illicit Use of Cryptocurrencies
U.S. Department of Justice headquarters.

Deputy Assistant Director of the U.S. Secret Service’s Office of Investigations, Robert Novy, shared a similar sentiment in his testimony before the House of Representatives Financial Services Subcommittee on Terrorism and Illicit Finance last week. He called on Congress to “help in preventing cryptocurrencies like monero and zcash, which provide users with enhanced privacy and anonymity features, from being used for illicit purposes,” as news.Bitcoin.com previously reported.

On Tuesday, the Department of Justice also announced the arrests of more than 35 people selling illicit goods in a nationwide undercover operation targeting darknet vendors. According to the notice, “Nearly 2,000 bitcoins and other cryptocurrencies, with an approximate value of more than $ 20 million” were seized.

Written by Bitcoin.com

SVK Crypto – Daily News Blog

The best cryptocurrencies to invest in 2018. The results of the survey

According to the survey conducted by international law firm Foley & Lardner, Ethereum is the most attractive cryptocurrency to investors.

The authors of the survey tried to find out the opinion about regulation, investment preferences, ICO, the probability of complete collapse of the market etc. Catherine Trkla, who heads the blockchain group in Foley & Lardner commented on the poll results:

Interestingly, the number of respondents who prefer some degree of Federal regulation is so great. The reasons may be different, but it is recognized that decentralized platform has not play a significant role. When cryptocurrencies are exchanged for USD or other Fiat currency it somehow passed through the existing regulated financial market infrastructure.

The survey involved 62 specialists who hold leadership positions or are independent investors or traders, mainly in the United States. Age ranged from 20 to 50 years. Among the interviewed investors are about 30%, business executives, about 26% of lawyers and 17% of consultants and 9%, traders is 5% developers 5% and by specialists from other regions – 8%.

Key highlights of the survey

In your opinion, what is cryptocurrency the most attractive from the investment point of view?

  • Ethereum – 38%
  • Bitcoin – 35%
  • Ripple – 5%
  • Dash – 2%
  • Zcash For / Monero – 2%
  • No – 9%

In your opinion, what cryptocurrency will be massively used to make payments for goods and services?

  • Bitcoin – 43%
  • Ethereum – 17%
  • Ripple – 10%
  • Dash – 5%
  • Zcash For/Monero – 2%
  • No – 12%

Do you think that any cryptocurrency will overtake Bitcoin in terms of market capitalization?

  • It’s possible, but it is too early to talk about it – 35%
  • Yes within 1 year – 5%
  • Yes, within 1-2 years – 14%
  • Yes, within 2 to 5 years – 18%
  • Yes, after 5 years – 5%
  • Yes, but I don’t know when – 12%
  • Never – 11%

How do you assess the probability that the cryptocurrency bubble” burst?

  • Yes, in the next 12 months – 41%
  • Yes, for 2-5 years, 29%
  • Yes, after 5 years – 4%
  • No – 27%

In your opinion, should States or Central banks to create their own cryptocurrency?

  • Yes – 25%
  • No – 58%
  • Don’t know – 17%

In your opinion, should the investors invest in the cryptocurrency exchange-traded funds (ETF)?

  • Yes, Bitcoin and other cryptocurrencies – 69%
  • Yes, only for Bitcoin – 3%
  • No – 19%
  • Don’t know – 9%

What form of transaction confirmation has the highest resistance in the long term?

  • Verification using hashing (ie Proof of work) – 28%
  • Confirmation by the Proof of rate – 28%
  • Confirmation through confirmation of identity and reputation (i.e. the reputation Confirmation) – 14%
  • No opinion – 26%

Do you think that the ICO should be regulated in the USA?

  • Yes, the U.S. Federal government – 70%
  • Yes, the respective jurisdictions of individual States – 2%
  • Yes, at the Federal level and at the level of individual States – 12%
  • No – 16%

Do you think that buying and selling of crypto-currencies should be regulated in the USA?

  • Yes, the U.S. Federal government – 57%
  • Yes, individual States – 2%
  • Yes, at both levels – 9%
  • No, neither at the Federal nor at the state level – 32%

Do you think that the use of cryptocurrency as a means of payment for goods and services should be regulated in the USA?

  • Yes, the Federal government of the United States – 37%
  • Yes, at the state level – 7%
  • Yes, at the Federal and state level – 11%
  • No – 46%

Do you feel that the industry needs to develop common standards for yourself?

  • Yes – 86%
  • No – 14%

If you believe that cryptocurrencies are in need of regulatory oversight, what exactly, in your opinion, should do the regulators of the United States?

  • Continue to fight fraud in this area – this will stop bad actors – 75%
  • To create committees and/or task force for a better understanding of the technology/market to create rules – 57%
  • To quickly determine if a cryptocurrency is actually a security – 51%
  • You need to observe but not to intervene in technology development – 51%
  • To create a “regulatory sandbox” that allows to experiment with new products and technologies without a full regulation – 49%
  • Quickly enter the regulation – 19%

The respondents were interviewed in March and April 2018.

The post The best cryptocurrencies to invest in 2018. The results of the survey appeared first on FineCrypto.

FineCrypto

SVK CRYPTO PODCAST 170 – 27/06/2018 – What’s wrong with the EOS Constitution?

https://www.podbean.com/media/share/pb-iyxm2-9415fb

Welcome to the SVK Crypto, 15 Minutes of Crypto Fame, brought to you by your host, Charles Storry. We provide daily cryptocurrency content and analysis on topics such as Bitcoin, Ethereum, Altcoins and ICO’s.

We not only produce our daily content we feature CEO’s of all exciting ICO’s! Stay tuned to find out more!

If you’d like to stay in touch or get more info from me, please SUBSCRIBE to the channel and spread the good word!

Follow us on Twitter: https://twitter.com/SVK_Crypto

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SVK Crypto – Daily News Blog

50% coins Metronome, cryptocurrency Jeff garzik’s, was in the hands of three investors

Former Bitcoin Core developer, Jeff garzik’s, during the ICO project Metronome had sold almost half of the available tokens only to three investors.

Data from blockchain Ethereum confirmed holding a giant transaction that caused the outrage of potential investors who failed to buy tokens.

Metronome was first announced Bloq, garzik’s development of the blockchain, in October 2017, when the cryptocurrency market was in the early stages of a parabolic rally in the fourth quarter. Metronome (MET), according to supporters, was to become the first cryptocurrency focused on “institutional class.”

The developers decided to limit the emission of 10 million tokens Metronome, of which 8 million were available during the ICO. The rest were kept company Bloq. The sale was carried out by holding the “downward price” auction in which the price per token is reduced with time.

However, complaints in social networks began to appear even before the end of the sale (June 25):

“In the last minutes there was a very large whales,” commented one Reddit user, showing three transactions, about 3.3 million tokens. One of the “whales” has acquired almost 2 million tokens per transaction.”

While garzik’s Blog and have to comment on ICO, criticism is amplified more and more, focusing on the discontent of garzik’s structure “vast majority” altcoins, of which he himself said a few years ago.

ICO often come under fire because of discrepancies in the distribution of tokens and bad sales management. The developers of the project Civic in July of last year even distributed their tokens through a randomized queue, trying to avoid the “whales”.

The post 50% coins Metronome, cryptocurrency Jeff garzik’s, was in the hands of three investors appeared first on FineCrypto.

FineCrypto

Get ready to cry Roger Ver: BitPico begins to attack the blockchain BCash

BitPico, a group of bitcoin developers, miners and whales, which previously had a tough stress test technology Lightning Network, launched an attack on Bitcoin Cash (BCH).

In a series of tweets, starting from June 22, the team bitPico (names of participants are kept secret) said that after testing Lightning Network strength by a coordinated attack, she intends to do the same thing with Baccano Bitcoin Cash and try to carry out the attack 51%.

“Attack [Bitcoin Cash] has begun; We expect that in 6 weeks we will have 5 000 attacking nod BCash. Then we will conduct multiple forks the chain. Roger Ver will cry”, — stated in the message.

BitPico had established itself as the main supporter of action on scaling SegWit2x. After this initiative failed, the group was not heard until March 2018, when they began to attack Lightning Network.

“We did not leave the network Batocina; we just needed a break. Today, we are optimistic and working on Lightning Network,” they announced on March 17.

At the same time, many of the problems faced by Bitcoin, for example, high commissions and long confirmation of transactions, managed to solve it.

Despite this, the supporters of Bitcoin Cash continues to cultivate the excellence of this Aldona over Bitcoin, refuting criticism from third-party sources on the Internet and in the media.

For bitPico, whose previous stress test network Lightning Network received recognition from key figures in the cryptocurrency community, including Andreas Antonopoulos, the attack on the BCH network became the target of once and for all resolve the debate about the superiority.

“We can mine transaction and discard transactions merchants without confirmation from the pool of our group. It seems that the developers of Bitcoin Cash don’t understand how easy it is to bring down their network”.

Stress test your own network, conducted by a team of Bitcoin Cash, has been harshly criticized by bitPico, who called it “centralized and controlled, and therefore fake”.

Despite all the threats of physical violence. that struck a team bitPico along with a barrage of contempt from supporters of Bitcoin Cash, plans to “break”this altcon using attack 51%, in force. Moreover, bitPico intend to forgot Bitcoin Cash and create the so-called “bitPicoCash”.

For the organization of the attack was created a separate repository on GitHub, which bitPico promise to begin to fill in the near future.

Bitcoin Cash is not the only fork of Bitcoin, which faced a threat of attack 51%. The developers of Bitcoin Gold announced that all efforts to change to prevent another attack like the one that was at the beginning of this month, when hackers stole $ 18 million.

The post Get ready to cry Roger Ver: BitPico begins to attack the blockchain BCash appeared first on FineCrypto.

FineCrypto

Top Crypto News – 27/06/2018

Korea’s Exchange Hacks: What the Country’s Crypto Scene Is Saying

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The past two weeks have seen two South Korean exchanges get attacked and robbed, sparking commentary and critique among the country’s local cryptocurrency community.

It began with the Coinrail hack on June 9. At the time, the popular South Korean cryptocurrency exchange tentatively announced a “cyber intrusion” that saw the loss of $ 40 million worth of cryptocurrencies.

The exact number and amount of tokens taken from the exchange have yet to be confirmed by the company itself, though a third-party firm assisting Coinrail gave a few estimates in a blog post the following day.

If that wasn’t enough, on June 20, Bithumb – South Korea’s largest by trade volume – also announced a major security breach in which $ 31 million was reported to be lost. In a post published on their official website the same day, Bithumb reassured customers that their assets were now securely stored in offline “cold” wallets unreachable to hackers and the stolen funds would be fully reimbursed.

Combine this environment with a recent bearish market trend taking the price of bitcoin down in a way not seen since 2014 and you get the kind of social media uproar that questions just about everything.

As one Korean cryptocurrency skeptic tweeted:

Along the same lines, @marco20bil mocked a past Coinrail advertisement boasting its security by uploading a picture of the ad and tweeting at the company:

“Anyone would look at this and see it as an insider act, no? Please catch the culprit and restore the platform back to the original state as soon as possible…You said there is no vulnerability of being hacking in an advertisement. Are you joking me right now?”

Digging Deep

For most, it’s not a matter of tech security – that’s a given for those that care – but rather about the people who operate the exchanges behind the scenes.

As @leejongsul78 puts it:

Indeed, much of the community’s ire has been pointed toward those operating the exchanges.

One user, @dongjinkim5, addressed Bithumb directly in light of their urgent notice Twitter announcement to users on June 19, pleading:

Another accused Coinrail of withholding information about what actually went down during the hack.

As might be expected, some of the furor devolved into the downright conspiratorial. For example, one user emphasized the possibility Bithumb may be creating a cover-up by claiming it had been robbed through a hack.

No strangers to risk

As far as answers go, the community can only watch and wait as the investigations unfold.

And as it stands, the government of South Korea is doing some of the heavy liftings there: the Korea Internet and Security Agency (KISA) and the Ministry of Science, Information, and Communication Technology are currently in the process of investigating both hacks, but have yet to make any public disclosures on their findings.

But South Koreans are no strangers to the riskiness of crypto markets, as just last year, another notable cryptocurrency exchange, Youbit, was hacked for a reported $ 73 million worth of bitcoin, and subsequently, filed for bankruptcy last December.

Nor are South Koreans quick to accept these incidents as merely cyber-related heists by criminals out for the money.

As reported by the Wall Street Journal, speculation arose around the possibility of the true culprit behind the Youbit hack being none other than their adversarial counterpart, North Korea. It has been reported from other sources that this is by no means the first time the South Korean National Intelligence Service has suspected North Korea to be behind cryptocurrency hacks as a method to evade financial sanctions.

One of the alleged targets was Bithumb, which reportedly saw $ 7 million pilfered during a string of attacks last year.

Still, the avid support of cryptocurrencies in South Korea remains strong, and while the fallout of past weeks events is still taking shape, eyes are not only looking to South Korea, but to the world.

As one South Korean cryptocurrency trader, @sunghq2, put it:

“The price impact that the Bithumb hacking will have is determined by the West’s reaction to the incident amplifying Asia’s reaction, which then impacts Asia’s reaction, impacting the West’s reaction, and back and forth.”

It’s just like that (slightly amended) famous saying goes: Back and forth the crypto markets go – where it’ll stop, nobody knows.

Editor’s Note: Statements in this report have been translated from Korean. Not all statements are fully translated. 
Written by CoinDesk.com

 

FOMO for Dogecon: What You Missed At the Gathering of the ‘Shibes’

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Admit it: you wish you were there.

Dance parties, rap shows, puppy parades – you name it, Dogecon had it.

And, perhaps more importantly, what this untraditional gathering of the crypto community didn’thave was pretty striking considering the circumstances: a panic over falling crypto prices.

Indeed, as Matt Condon put it on Twitter, “radical positivity” was the name of the day at Dogecon.



The four-day celebratory conference about “the social layer of crypto culture” took place in Vancouver, British Columbia. Built around the cryptocurrency with a Shiba Inu at its heart, the conference received overwhelmingly positive reviews both from attendees and those who watched from the virtual sidelines.

Even the sponsors of the event were largely unabashed on social media:

With over 200 participants having attended Dogecon Vancouver, its success – amplified by crypto Twitter – arguably brought a breath of fresh air to a community that, in recent weeks, has been bogged down with concerning news of hacks, bearish market trends and cryptocurrency forks.

As one enthusiast asked (perhaps rhetorically):

The coin behind Dogecon

The event may perhaps be proof of at least one thing: the near-zealous commitment the project still attracts, with recent charts showing that dogecoin transactions frequently outnumber those of bitcoin cash, the fourth most popular cryptocurrency in the world (by comparison, dogecoin is 40th by market capitalization, according to CoinMarket Cap).

So why the attraction? Dogecoin was always more about its community than challenging its crypto-cousin bitcoin, save for its vastly expanded token supply, faster block-times and viral memes. And the cryptocurrency inarguably suffered a blow in the wake of well-publicized scams like Moolah and the pump-and-dump schemes of Wolong.

Indeed, when the dogecoin first launched, it almost immediately attracted a following friendlier to newcomers in the crypto space than the “overly serious” bitcoin community.

Perhaps that’s SmileyGnome’s (likely rhetorical) point – that events like Dogecon seek to offer an alternative to the toxicity on display in the crypto-community on an all-too-often basis.

Or, at the very least, it’s an opportunity to praise Lord Doge.

Shiba Inu image via Shutterstock
Written by CoinDesk.com

 

Meet Three More Applications That Utilize Bitcoin Cash OP_Codes

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Three Apps That Showcase the Bitcoin Cash Network’s OP_Return Innovation

Meet Three More Applications That Utilize Bitcoin Cash OP_Codes
@_Unwriter

Over the past few weeks since the successful Bitcoin Cash network upgrade this past May lots of BCH supporters have been experimenting with the new OP_Codes and OP_Return transactions. Immediately after the fork, platforms like Memo.cash, and Blockpress also upgraded their software which allowed users more characters per written post. With all the OP_Return innovation taking place a developer called ‘Unwriter’ has created three platform extensions called Chainfeed, the _opreturn Twitter bot, and read.cash. The applications work with programs like Memo.cash, while also using the Twitter API as well.

Chainfeed: A Global Real-Time News Feed Powered by BCH OP_Return Transactions

Chainfeed is a global newsfeed that shows all the messages being created on the Bitcoin Cash network in real-time. Basically, the tool logs all the OP_Return transactions on the BCH chain and delivers the data to users on the client side. Scrolling through the app’s interface shows all the OP_Return transactions taking place right now and a portion of the feed is a bunch of gibberish. However, users can filter the platform’s query so it only finds OP_Return transactions tied to specific applications like Blockpress. Chainfeed’s data site and the info shown can be shared with direct links alongside the ability to be bookmarked as well.

“There are currently two tabs: ‘all’ and ‘featured apps.’ ‘All’ is the raw OP_Return feed,” explains the Chainfeed creator.

‘Featured Apps’ is for applications that have their own overlay application protocols (such as memo.cash or blockpress so far). It’s still early days so there aren’t many apps that make use of the OP_Return data transaction feature yet, but we will probably see a lot of exciting apps soon.

Meet Three More Applications That Utilize Bitcoin Cash OP_Codes
Chainfeed API.

The Twitter Bot ‘_Opreturn’ Turns Twitter Into an Application-Specific Bitcoin Sidechain

The developer has also created a Twitter bot called @_Opreturn which is a program that uses the Chainfeed firehouse API to monitor real-time messages sent on the BCH chain. Then the messages are replicated onto Twitter using the Twitter API. Visiting the bot’s Twitter page shows the application is quite active as it posts BCH-powered OP_Return transaction and streams them into _Opreturn’s Twitter feed. So far since Unwriter launched the bot the platform has tweeted 3,322 times and a good majority of the posts stem from the Memo.cash application.

“We’re turning Twitter into an application-specific Bitcoin sidechain,” explains Unwriter.

Meet Three More Applications That Utilize Bitcoin Cash OP_Codes
@_Opreturn

Watch All of Those Bitcoin Cash Social Media Accounts With Read.cash

Lastly, the developer Unwriter has created another BCH application called read.cash. In essence, read.cash takes all your BCH-centric social media accounts from Yours.org, Blockpress, and Memo and creates a platform that allows the owner to manage all of the tethered BCH wallets in one place. Read.cash enables users to add wallets using public keys instead of private keys. Creates a watchlist for all of the accounts’ wallets so people can view their accounts’ actions and most importantly the funds stored on these websites. Moreover, users have the ability to recharge application wallets using QR codes and the Moneybutton application.

Meet Three More Applications That Utilize Bitcoin Cash OP_Codes
Read.cash

All of Unwriters platforms are open source and the codebase and descriptions can be viewed at the developer’s Github repository. The applications Unwriter has created just scratches the surface when it comes to the potential of these censorship resistant social media platforms and the extensions that have followed. Ever since the OP_Codes were re-enabled it has caused a tidal wave of platforms that showcase innovation like the apps mentioned above and other realized concepts like trustless betting, auctions, and dice rolls.

Written by Bitcoin.com

 

SVK Crypto – Daily News Blog

An abandoned complex Intel bought for bitcoin mining

After Quebec and new York state, the only remaining place in North America for large-scale, and most importantly, profitable bitcoin mining with the use of cheap electricity is Colorado springs.

A California startup has spent $ 13 million to turn an abandoned manufacturing facility of Intel in a huge mining farm.

The California-based company 3G Venture II, owned by John Chen from Los Angeles, purchased 30 acres and over 700,000 square feet in several buildings, of which for mining cryptocurrency will be used by three premises with a total area of 85 thousand square meters.

Michael Palmer, agent of Quantum Commercial Group, who signed the deal said that the buyer was particularly attracted by the mains, once set for the needs of Intel. The complex includes a substation directly in production, as well as two separate power source. The new owner also asked the electricity supplier company Colorado Springs Utilities, to increase the capacity for the complex.

It should be noted that cheap energy prices for a long time been attracted to this area of the company, including giants such as Progressive Insurance, FedEx and Walmart, who have created there own data centers.

Earlier this month we reported that the U.S. mining company Coinmint confirmed the opening of the world’s largest mining centre, with production capacity of 435 MW, which will be located in the state of new York.

For politicians in Massena, the city nearest to the Alcoa plant, the project Coinmint was a blessing, because it promised to create an additional 150 jobs.

However, it seems that in Colorado springs the news about the emergence of a new industry has caused less enthusiasm, as local residents and authorities do not expect the creation of a large number of jobs.

Dirk Draper (Dirk Draper), President and chief Executive officer of the chamber of Commerce of the state of Colorado said that local authorities plan to attract more such companies.

The post An abandoned complex Intel bought for bitcoin mining appeared first on FineCrypto.

FineCrypto

What can a new blockchain platform Jack MA, founder of Alibaba?

Co-founder and CEO of Alibaba Group Jack MA demonstrated a new service for transferring funds based on blockchain technology and Ant Financial (formerly Alipay), a subsidiary of Alibaba Group.

According to MA, the platform completed its first transaction between Hong Kong and the Philippines in just three seconds, according to 8btc.

Ant Financial is planning to eventually run this payment platform worldwide.

MA is a major supporter of blockchain technology and believes that it is a key tool for social change in the future.

In an interview for the Wall Street Journal, MA said that:

The blockchain technology can change our world much stronger than many people think. The blockchain will be used to address issues of confidentiality, security and many others.

He was critical of the speculators who are trying to quickly capitalize on the crypto currency and believes that bitcoin is a bubble.

Technology by itself is not a bubble, but bitcoin is likely that really is. It is impossible to become rich over night.

Last month Chinese billionaire made a similar statement, speaking at the 2nd World Intelligence Congress (WIC 2018) in Tianjin.

I have been studying the blockchain and the blockchain is not a bubble. But bitcoin, Yes.

Alibaba is investing heavily in the blockchain, and artificial intelligence. Recall that this company owns the largest number of blockchain patents.

The post What can a new blockchain platform Jack MA, founder of Alibaba? appeared first on FineCrypto.

FineCrypto

SVK CRYPTO PODCAST 169 – 26/06/2018 – R3 Tech Working with RBS?

https://www.podbean.com/media/share/pb-qn6xj-94035e

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