History about how the maker of Litecoin, Charlie Lee, found out about Bitcoin

The Creator of the seventh volume of capitalization of the cryptocurrencies in the world of Litecoin Charlie Lee talked to Laura Shin in the broadcast of her popular podcast. They discussed Bitcoin and how he met cryptosphere. For starters, Lee said on the tenth anniversary of the publication of whitpaper Bitcoin and said that was very involved in activities in Cryptoprotected. He didn’t even notice that flew these years.

“I’m really surprised that so many years have passed. I have the feeling that I only yesterday learned about Bitcoin, although I first read about him back in 2011. Yes… just an amazing ten years.”

He further confessed to how really acquainted with Bitcoin. He read about the coin in the article about Silk Road, the most famous online market where in payment accepted bitcoins. This aroused his interest in the new form of digital currency that is resistant to censorship and is a much more sound form of money than the existing.

What will happen to Bitcoin next?

According to Ambcrypto, he also wished for Bitcoin to achieve its ultimate goal — to become the money we use for everyday payments. According to the Creator of Litecoin, cryptocurrency will soon replace Fiat money.

“Ten years have passed. Bitcoin and cryptocurrencies still act as a speculative asset. And we, as you know, so far only tickled the tip of the iceberg and very little progress in that direction to make them real money.”

Remembering the past, Li told how became interested in bitcoin during the Bitcoin price below $ 30. Then he had a strong feeling that the coin is “undervalued” and it had the potential to revolutionize. That was the trigger, why Do closely was fascinated by cryptosphere.

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The developers have found a vulnerability in ban applications for mining from Google

Although initially mining cryptocurrency was task, shouldered powerful PC or ASIC-s, some pioneers have decided to create apps that will allow smartphones to get the crypt. These applications quickly became popular in cryptosphere, as users sought to get some cryptocurrency by using the easy to use mobile programs on the principle “install and forget”.

At the end of July 2018, Google has done everything possible to put an end to these applications:

“We do not allow applications to mine cryptocurrency on devices. But we allow applications to remotely control the mining of cryptocurrencies”

As a result of this rule, all applications that provide the possibility of cryptocurrency mining was forcibly removed from Google Play. However, recently it became known that the ban was not fully effective.

British developers have managed to bypass the restrictions and add in the Google app JSECoin for cryptocurrency mining on smartphone — analogue of the hidden miner for Monero Coinhive.

Although the main function of JSECoin is remote control of equipment for mining, the application offers a secondary function — mining cryptocurrency directly to your phone, which obviously contradicts the new policy of Google. However, according to co-founder and technical Director JSECoin, John SIM, his company didn’t have an ulterior motives when they added this feature. Shortly after the publication of the information Google has removed the app from Google Play JSE.

Though the JSE and was removed still in Google Play, there are still many such applications that do not comply with Google’s rules, which seem at present are rather recommendatory. For example, a popular application for mining MinerGate, from the description which follows that it allows you to earn up to five pounds in a month.

Although MinerGate over 1 000 000 downloads skeptics argue that the developers profit is a blatant lie. For example, James Dawson-Show wrote:

“It is impossible to earn such money through a mobile device. To profit was 5 pounds per month need PC. The developer is the only one who gets rich using the power of millions of smartphones.”

According to a recent statement by Google, the company allows applications for mining to be in Google Play only during the grace period immediately after application. Although this explains the presence of the above-mentioned applications, it is still unclear how the JSE slipped through the radar of Google.

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References to child pornography found in the blockchain of Bitcoin can make it illegal

Researchers from Germany found hundreds of references to sexual violence against children in the blockchain of Bitcoin. It may at the official level to put him outside the law.

A study conducted at the RWTH Aachen University also found other files which violate copyright laws and privacy.

Experts said that they identified eight files sexual content. Three of them contained content that was “unacceptable to almost all world jurisdictions.”

All were analyzed over 1600 files, two of which contained links to 274 violent content, and 142 more “portals” to the Darknet. And if the records of these files are stored on users ‘ computers, they are theoretically breaking the law.

Garrigue Hileman, an expert on cryptocurrency at the University of Cambridge said that the problem of illegal content “has long been known and discussed”.

The specialist also noted that to get rid of local copies of illegal content on the blockchain will be too difficult technically for most users.

Given that the materials containing child pornography, are illegal in 112 countries, Bitcoin blockchain was under serious blow. For most users it is unclear how to put the blockchain photos. Turns out you can, but the researchers discovered that the photograph must be very small resolution and, accordingly, is of poor quality. About the video, even speech can not be.

It remains only to follow the developments to see if using regulators the results of this study.

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