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What is Bitcoin?

Bitcoin is a digital crypto-currency with no single point of failure due to its decentralized peer-to-peer architecture. The source code is publicly available and changes to the reference Bitcoin client are made via concensus within the community. Advantages of Bitcoin include irreversible transactions (i.e. no possibility of chargebacks as with credit cards), pseudo-anonymous, limited and fixed inflation, near instant transactions, multi-platform, no double-spend and little to no barriers to entry and more. It was created by an anonymous person known as Satoshi Nakamoto. Find out more at WeUseCoins.com.

Bitcoin Latest News

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Posted on 23 February 2018 | 4:36 pm

Secretive Chinese bitcoin mining company may have made as much money as Nvidia last year - CNBC


CNBC

Secretive Chinese bitcoin mining company may have made as much money as Nvidia last year
CNBC
A secretive Chinese start-up called Bitmain that dominates the bitcoin "mining" industry likely made as much as chipmaker Nvidia did last year, Bernstein analysts estimate. Based on conservative estimates of gross margin of 75 percent and operating ...

and more »

Posted on 23 February 2018 | 3:24 pm

Video Game Giant Ubisoft Is Exploring Blockchain Use Cases

Ubisoft, the company behind Assassin's Creed and Just Dance, is exploring applications of blockchain for video games.

Posted on 23 February 2018 | 3:00 pm

Bitcoin and blockchain consume an exorbitant amount of energy. These engineers are trying to change that - CNBC


CNBC

Bitcoin and blockchain consume an exorbitant amount of energy. These engineers are trying to change that
CNBC
If blockchain technology is going to revolutionize how we transact with each other, computer scientists need to solve one big problem: It can consume way too much energy. The original blockchain, which underlies bitcoin, runs on an algorithm that could ...

and more »

Posted on 23 February 2018 | 2:45 pm

What Is Bitcoin And Why Are The Price Of GPUs So High? - GameSpot


GameSpot

What Is Bitcoin And Why Are The Price Of GPUs So High?
GameSpot
You might be aware that GPU prices have skyrocketed in recent months. This is due in large part to the rise of cryptocurrencies, to which there are many. Bitcoin is the first and most popular one, but what is Bitcoin? We're here to demystify the topic ...
Five reasons 2018 could be the best year yet for cryptocurrenciesCNBC
Bitcoin Price and Cryptocurrency Markets RecoverInvestopedia (blog)
Learn how to make smart investments in Bitcoin for less than $5 per coursePopular Science
BGR -Fortune -Motley Fool
all 93 news articles »

Posted on 23 February 2018 | 1:53 pm

Elon Musk Just Revealed the Surprising Amount of Bitcoin He Owns - Money Magazine


Money Magazine

Elon Musk Just Revealed the Surprising Amount of Bitcoin He Owns
Money Magazine
Entrepreneur and engineer Elon Musk — man whose name is synonymous with boundary-pushing companies like Tesla and SpaceX — just revealed how much Bitcoin he owns. And it's not a lot. “I literally own zero cryptocurrency, apart from .25 BTC that a ...
Elon Musk just revealed how much bitcoin he owns—and it's surprisingly littleCNBC

all 4 news articles »

Posted on 23 February 2018 | 1:36 pm

'Now Accepting Bitcoin': A Retailer's Guide To Digital Currencies - Forbes


Forbes

'Now Accepting Bitcoin': A Retailer's Guide To Digital Currencies
Forbes
Digital currencies, such as bitcoin, have dominated headlines recently in almost every sector thanks to the blockchain's disruptive implications, particularly for industries that can benefit from decentralized processes and improved security. The ...

Posted on 23 February 2018 | 1:29 pm

Bank of America Now Considers Crypto a Business Risk

The bank warns its investors that cryptocurrencies could hamper its ability to comply with anti-money-laundering regulations, among other dangers.

Posted on 23 February 2018 | 1:05 pm

One of bitcoin's biggest problems is showing signs of getting better - Business Insider


Business Insider

One of bitcoin's biggest problems is showing signs of getting better
Business Insider
Bitcoin, which was designed as a cheap, transparent payment network to rival old guard Wall Street and its big banks, became more expensive to use as the price climbed to nearly $20,000 at the end of 2017. At that point, it cost upwards of $30 to ...
Bitcoin Fees Drop: Why It Happened And What It MeansCoindesk
4 Reasons Why Bitcoin Transaction Fees Are at an All-Time LowInverse
Forget Bitcoin. It's All About The Blockchain.Forbes
Financial Post
all 26 news articles »

Posted on 23 February 2018 | 11:56 am

Bringing Renewable Energy to the World Using Blockchain Technology

Bringing Renewable Energy to the World Using Blockchain Technology

Modern energy services are vital to human well-being and to a country’s economic development, yet according to the International Energy Agency (IEA), globally 1.2 billion people lack access to electricity. It’s thought that around 95 percent of these people are in either sub-Saharan Africa or developing Asia, with 80 percent in rural areas.

Ethereum-based platform ImpactPPA is attempting to turn on the lights using the power of the blockchain.

Selected as one of the top three most promising ICOs at this year’s North American Bitcoin Conference, ImpactPPA aims to disrupt renewable energy to finance and accelerate global clean energy production by decentralizing and tokenizing energy generation through power purchase agreements (PPAs). To achieve this, the platform is using blockchain technology, smart contracts and its energy protocol, the SmartPPA.

The project white paper describes how, right now, energy financing and distribution is bottlenecked by large, centralized NGOs and government agencies that have established an unwieldy financing system that can take years from proposal to product implementation.

The SmartPPA is the lynchpin of the new system and permits anyone, anywhere, to create a proposal for a project of any size. Even though ImpactPPA will allow users worldwide to access clean energy on a mobile device, the platform is primarily focusing on the emerging economies in the world.

Speaking to Bitcoin Magazine, ImpactPPA CEO Dan Bates explained that the current funding process with centralized NGOs is “too cumbersome and costly for many developing nations,” leaving many countries and their populations with limited access to power.

“ImpactPPA’s use of the blockchain and the crowd dramatically changes this paradigm, tapping into the vast potential of the socially minded impact investor and concerned citizen, looking to benefit the well-being of others while mitigating climate change,” he said.

As a company that has already been working in the traditional renewable energy (wind and solar) space for over 10 years, with projects on the ground in 35 countries, ImpactPPA’s platform is now ready to deploy with the blockchain component.

According to Bates, the team has more than 200 megawatts in discussion for PPAs around the world that they expect to begin executing within the next six months. Through its pay-as-you-go model for power, ImpactPPA is providing the most remote and underserved populations the chance to rapidly fund and deploy clean energy solutions that improve their quality of life, giving users the chance to purchase and consume energy on an as-needed basis.

“There is great need for our solutions in rural Africa as well as island nations like Puerto Rico and Haiti, which have been affected by hurricanes, just to name a few examples,” said Bates. “But as a company, we are interested in working everywhere and anywhere there is a need for power.”

ImpactPPA is currently working with the Haitian government and local partners to provide power to 42 of their coastal communities that have been left without power since Hurricane Matthew in 2016. The platform is planning on working with NGOs in the future too.

Delivering this energy to smart meters that are connected to the blockchain allows for government, utility companies, businesses or individuals to decentralize the flow of power while using the best of the blockchain to ensure trust and security of the power generated and transmitted, Bates explained.

Built on the Ethereum platform, ImpactPPA will sell its asset-based MPAQ token to enable projects, typically microgrids, to be quickly deployed.

“MPAQ token holders will be able to review and vote on proposed projects for funding by the company, giving the token-holding community a voice in the conversation about which projects should be funded,” Bates said.

ImpactPPA expects to begin its MPAQ token sale on April 22, 2018, coinciding with Earth Day, for funding projects currently in the pipeline.

It will also sell a GEN Credit to be used by consumers of the electricity generated by the renewable energy systems. It is priced in kWh and is determined by the PPA that it is attached to. Bates added that 30 percent of all net profits from implemented PPAs will be credited toward the platform’s GEN Pool. On a quarterly basis, and as long as the GEN Pool has a value of at least $100,000, ImpactPPA will use the accumulated GEN Pool to repurchase MPAQ tokens.

“It is this GEN Credit that will be exchanged by end users, buyers or proxies for the energy created by the renewable energy systems delivered to fulfill the SmartPPAs,” said Bates. “It is used to insure delivery of energy, manage storage devices, create interconnected data networks, and enable new economic models for the millions upon millions of people who will be positively impacted by the access to power.”

For Bates, the platform will deliver positive social impact in any form.

Energy begets an improved quality of life, education and self-empowerment, but energy is just the beginning for ImpactPPA.


This article originally appeared on Bitcoin Magazine.

Posted on 23 February 2018 | 11:29 am

Ethereum Governance 'Not That Bad' Says Buterin Amid Fund Debate

During an ethereum core developer meeting Friday, Vitalik Buterin argued the protocol's governance isn't functioning poorly, it's just misunderstood.

Posted on 23 February 2018 | 11:00 am

Jeffrey Gundlach says if you want to know where stocks are going next, watch bitcoin - CNBC


Barron's

Jeffrey Gundlach says if you want to know where stocks are going next, watch bitcoin
CNBC
Want to know where stocks are going next? Jeffrey Gundlach says take a look at bitcoin. "Strangely, bitcoin seems to be the poster child for social mood and market mood," Gundlach, founder of DoubleLine Capital, told CNBC's "Halftime Report" on Friday ...
Bond King: Follow Bitcoin for Stock DirectionBarron's
Gundlach says bitcoin is 'poster child' for stock market's moodMarketWatch

all 10 news articles »

Posted on 23 February 2018 | 10:44 am

Nokia Launches Blockchain-Powered IoT Sensing as a Service for Smart Cities

Nokia Launches Blockchain-Powered IoT Sensing as a Service for Smart Cities

Nokia is launching a set of services, based on Internet of Things (IoT), data analytics, and blockchain technologies, for economically and environmentally sustainable “smart cities.”

In the emerging IoT, billions of connected devices and sensors will generate vast amounts of data. Smart cities will need to retrieve, process, interpret and act upon real-time environmental data in a timely manner to ensure they remain sustainable environments for their citizens. To enable efficient IoT ecosystems for smart cities, it’s important to create new data monetization opportunities for IoT sensor network operators able to provide smart city authorities with real-time processed and analyzed environmental data.

"Cities need to become digital in order to efficiently deliver services to their habitants,” said Asad Rizvi, head of Global Services business development at Nokia. “Smart infrastructure, which is shared, secure, and scalable, is needed to ensure urban assets and data are efficiently used. We can help cities with that. In addition, we can help operators generate new revenue utilizing their existing network by providing solutions for smart city players, such as city, transport, travel and public safety authorities."

Nokia’s Sensing as a Service (S2aaS) provides intelligent analytics on environmental data gathered from IoT-connected sensors, which operators can sell to cities and other authorities. Nokia envisions IoT-based, real-time monitoring systems able to provide timely environmental information for smart city management. For example, S2aaS will detect unusual environmental behavior like illegal construction, trash burning or unusual particles in the air.

NetworkWorld notes that the idea behind the product is to provide a way for mobile network operators (MNOs), many of which use Nokia cell site equipment, to monetize existing infrastructure, such as towers, by selling live environmental sensor data to cities and others.

Nokia’s S2aaS is powered by a blockchain with a built-in micropayment platform, which supports smart contracts for “anonymized, private and secure micro-transactions that allow operators to monetize analyzed data and generate new revenue streams.”

“Our complete micropayment platform can help you quickly generate new revenue from your data,” reads a Nokia solution paper. “Based on blockchain, the distributed ledger technology that is taking finance, healthcare, and a range of other industries by storm, our platform allows you to easily integrate third parties into your data market — expanding your customer base and service offerings. And as every transaction is verified against other peers in the blockchain network, you can be sure that your platform is secure.”

Independent operators will have the option of a traditional CapEx (Capital Expenditure) business model, or a revenue sharing service model. Nokia stated that it will work with clients to identify optimal business models for their specific use cases.

Nokia will manage all hardware installation, equipping existing network sites with new environmental sensors and edge gateways. S2aaS will include a complete platform for collecting and processing sensor data hosted in Microsoft Azure, AWS, or Nokia’s private cloud, using a choice of Amazon IoT, and Microsoft IoT, or Nokia’s own AVA cognitive services platform. According to the company,  AVA “integrates cloud-based delivery, intelligent analytics and extreme automation to deliver instant and flawless personalized services.”

Nokia will present S2aaS and related services at the Mobile World Congress in Barcelona, Spain, held from February 26 to March 1, 2018.


This article originally appeared on Bitcoin Magazine.

Posted on 23 February 2018 | 9:58 am

Georgia Becomes Latest State to Consider Bitcoin for Tax Payments

Two state senators in Georgia have proposed a new bill that would allow citizens to pay their tax obligations in bitcoin.

Posted on 23 February 2018 | 8:45 am

Menendez Hints At US Action on Venezuela's Controversial Crypto

A U.S. senator who has previously spoken out against Venezuela's newly launched "petro" cryptocurrency isn't done with the issue.

Posted on 23 February 2018 | 8:05 am

Bitcoin bounces but gains could be limited - MarketWatch


Bitcoin bounces but gains could be limited
MarketWatch
After a two-day selloff, major cryptocurrencies saw moderate gains Friday as they looked to claw back losses in what's been a tumultuous few days for crypto investors. The 48-hour slide saw the No. 1 digital currency, bitcoin BTCUSD, +2.43% lose as ...

Posted on 23 February 2018 | 7:10 am

How To Avoid Crypto, Bitcoin `Pump and Dump' Scams - Forbes


Forbes

How To Avoid Crypto, Bitcoin `Pump and Dump' Scams
Forbes
It was only a matter of time. Traditional swindlers have discovered cryptocurrencies. They are using their old techniques to fleece new investors. The most recent warning comes from the U.S. Securities and Exchange Commission (SEC) and Commodity ...

and more »

Posted on 23 February 2018 | 6:53 am

Telecoms Blockchain Group Touts Demo Success, New Members

Several multinational telecoms firms have joined the Carrier Blockchain Study Group to advance blockchain use cases in the industry.

Posted on 23 February 2018 | 6:00 am

Bank of China Moves to Patent Blockchain Scaling Solution

Bank of China has filed a patent application for a process it says is better able to scale blockchain systems.

Posted on 23 February 2018 | 5:00 am

Bitcoin Is Back Over $10K, But Rally Looks Weak

Bitcoin is witnessing a minor corrective rally today, but longer-term gains may be elusive, according to price chart analysis.

Posted on 23 February 2018 | 3:45 am

Japan's Exchanges Report 669 Cases of Suspected Crypto Money Laundering

Japan's police agency has said hundreds of cases of suspected money laundering were reported from domestic cryptocurrency exchanges in 2017.

Posted on 23 February 2018 | 3:21 am

Why Venezuela Should Worry About a National Crypto

While a lot is still unclear about Venezuela's state-backed "petro" token, what is apparent is that many feel it's potentially harmful for its people.

Posted on 23 February 2018 | 2:00 am

SEC Advocacy Director Says Crypto Investors Shouldn't 'Flip A Coin'

A new SEC blog post advises potential cryptocurrency investors to do their research prior to buying a token.

Posted on 23 February 2018 | 12:00 am

Report: Mutual Funds Could Save Billions With Blockchain

Shifting to a distributed, blockchain-based infrastructure could bring huge financial benefits to the asset management industry, research indicates.

Posted on 22 February 2018 | 10:00 pm

Bitcoin Fees Drop: Why It Happened And What It Means

Not so long ago bitcoin's transaction fees were over $20, but now they're down to around $3 again. CoinDesk explores why.

Posted on 22 February 2018 | 6:30 pm

Tezos Foundation Reorganizes, Gevers Steps Down

Tezos Foundation Reorganizes, Gevers Steps Down

After months of infighting between the organizers of Tezos, a blockchain project currently in development, and the Tezos Foundation, a Swiss nonprofit that controls the project’s pursestrings, the two remaining original members of the Foundation have “voluntarily” resigned. This means that since December, the entire three-person board has been replaced.

According to an announcement by the Tezos Foundation, Johann Gevers, the former president of the Foundation, has stepped down and will be replaced by Ryan Jesperson, a Tezos project contributor.

Diego Olivier Fernandez Pons also stepped down and will be replaced by Michel Mauny, a senior researcher at Inria, the French company that developed OCaml, the programming language Tezos is written in.  

Another board member, Guido Schmitz-Krummacher, resigned in December “because he was frustrated with the infighting, which was consuming a lot of his time,” according to Reuters. He was replaced by Lars Haussmann, head of accounting firm Haussmann Treuhand AG, on January 31, 2018.

Infighting

Tezos, a blockchain project aiming to compete with the likes Ethereum and Cardano, was co-founded by Kathleen and Arthur Breitman. In an uncapped initial coin offering (ICO) put forth as a “fundraiser,” the project raised $232 million worth of bitcoin and ether in July 2017. Those funds, which ballooned in value to around $1 billion due to this year’s rally in cryptocurrencies, were put in the control of the Tezos Foundation.

The Breitmans, who retain ownership of the Tezos code through Dynamic Ledger Solutions, a Delaware-based company, have been fighting to get rid of Gevers since October. At that time, the Breitmans’ lawyer sent a 46-page letter to the two other members of the Foundation (Schmitz-Krummacher and Fernandez Pons, at the time), accusing Gevers of “self-dealing, self-promotion and conflicts of interest” and calling for his prompt dismissal.

According to reports, the dispute originated a month before, when Gevers drew up a compensation package for himself, which the Breitmans claimed was excessive and not properly disclosed. It’s likely that the event also acted as a signal to the Breitmans that in setting up the Tezos Foundation, an organization that was supposed to operate completely independently of Dynamic Ledger Solutions, they had put too much control in the hands of too few people.

On October 18, 2017, in a blog post, Arthur Breitman proposed a solution to the power struggle, which involved setting up Tezos AG, a subsidiary of the Foundation that would have its own budget and allow Dynamic Ledger Solutions to operate with less oversight. The Breitmans also proposed increasing the number of people on the Tezos Foundation board from three to seven.

Since October, Gevers had kept relatively silent on the matter until January 28, 2018, when he published a blog post (archived) outlining steps for how the Foundation would push forward with the launch of the platform. (He later deleted the post.)

“I am glad to announce that the Foundation has regained access to banking services, which  —  due to the controversy surrounding the Tezos project  —  had been suspended since October 2017,” he wrote. “This allows us to continue with our top priority, which is to build an operational team that can execute the Foundation’s mission.”

In another interesting turn of events, a few days later, in an attempt to overthrow the Tezos Foundation, community members backing the Breitmans launched an alternative Swiss foundation dubbed “T2.” Wall Street Journal reporter Paul Vigna described the move as “not unlike shareholders in a corporation proposing a new board of directors because they like the CEO more than the board.”

Listed among T2’s seven founding members were Jesperson and Mauny and Olaf-Carlson Wee, CEO of cryptocurrency investment fund Polychain Capital, an early Tezos backer.

Lawsuits

The infighting, in addition to delays in the launch of the network and a holdup on funds, led to other complications. Since October, at least four class-action suits have been filed against Tezos on behalf of contributors accusing the project of selling securities.

When the project was launched, the Breitmans portrayed the tokens as a donation to the project, but some contributors believed they were investing in a cryptocurrency that would go up in value like bitcoin. Those contributors were given vouchers for tezzies, the native token that will operate on the Tezos platform once it launches; but until the project launches, they are unable to redeem their tokens.

The changeover in board members of the Tezos Foundation may be a sign that good news is on the horizon. At the recent Cyber Days conference at the UCLA Blockchain Lab, Kathleen Breitman hinted the platform would be launching in a few weeks.  

This article originally appeared on Bitcoin Magazine.

Posted on 22 February 2018 | 2:53 pm

Venezuela's President Orders Companies to Accept Petro

Venezuela officially has its own cryptocurrency – and its president wants some of the country's state-owned businesses to use it.

Posted on 22 February 2018 | 2:45 pm

Korean Regulator Tips Cryptocurrency Prospects Back Toward “Normalization”

Korean Regulator Tips Cryptocurrency Prospects Back Toward “Normalization”

On February 20, 2018, investors saw signs of yet another directional shift in South Korea’s regulatory stance on cryptocurrencies. According to Reuters, Choe Heung-sik, the governor of South Korea’s Financial Supervisory Service (FSS), told reporters, “The whole world is now framing the outline (for cryptocurrency) and therefore (the government) should rather work more on normalization than increasing regulation.”

The head of the FSS has wrestled with cryptocurrency regulation and the lack of legislation on the industry for some time. He stated in November 2017 that “supervision [of cryptocurrency exchanges] will come only after the legal recognition of digital tokens as legitimate currency.”

Choe also warned of a bitcoin bubble in December 2017 that paired with another warning that month, when he stated, “All we can do is to warn people as we don’t see virtual currencies as actual types of currency, meaning that we cannot step up regulation for now.”

The FSS, which has been spearheading the government’s regulation of cryptocurrency trading as part of a larger task force, has had an uphill battle in the face of Korean officials’ variable attitudes to the burgeoning industry. While the FSS-led taskforce set the nation’s first official rules around cryptocurrency trading on December 13, 2017, uncertainty around issues of taxation and regulation of the exchanges remained.

January brought even less certainty to the peninsula as South Korea’s largest cryptocurrency exchanges were raided by police and tax agencies on January 10, 2018, kicking off a week of contradiction by top Korean officials that precipitated a market-wide meltdown known as “Red Tuesday” on January 16, 2018.

Choe then had to state at a parliamentary hearing on January 19, 2018, that one FSS employee was being investigated “on suspicion that he or she traded a digital currency” ahead of the government’s announcement of toughening its stance on cryptocurrency trading. At the same hearing, the Office for Government Policy Coordination also disclosed a probe into two officials for alleged profiteering on government information after the events of Red Tuesday.

Korean officials rounded off the month of January by announcing on January 23, 2018, that anonymous accounts would be banned from trading cryptocurrencies as of January 30, 2018.

Merely three weeks after the ban on anonymous accounts took effect, Choe seemed to suggest rosier regulatory prospects for the cryptocurrency industry. These statements of normalization came only days after the sudden death of Jung Ki-joon on February 18, 2018. Jung, a 52-year-old man who led economic policy for the Office for Government Policy Coordination and was instrumental in spearheading the January crackdown, died of “unknown” causes in his home, though initial reports suggested that he’d had a heart attack.

This article originally appeared on Bitcoin Magazine.

Posted on 21 February 2018 | 3:41 pm

This Upstart Cryptocurrency Exchange Is Making Inroads in Canada

Coinsquare

Cryptocurrency and precious metals exchange Coinsquare is taking steps toward its goal of leading the cryptocurrency exchange market in Canada. On February 20, 2018, it announced a new partnership with Processing.com, after wrapping up a recent investment of $30 million, for a total $47 million raised in the last four months.

The partnership with Processing.com will allow Coinsquare to facilitate instant fiat currency payments of digital currencies for the general public through debit and credit card transactions.

In a release, Processing.com’s James Bergman said:

“We are very excited to partner with such a respected and fast-growing trading platform as Coinsquare. As digital currencies increasingly make their way into the mainstream conscious, service providers have a responsibility to ensure the broader public can access the rapidly growing blockchain ecosystem.”

Marketing Strategy

Besides increasing its Canadian market share, Coinsquare also has plans to move on to establishing new exchanges internationally, initially in the U.S. and the U.K.

Coinsquare CEO Cole Diamond acknowledges that he is continuing original owner Virgile Rostand’s marketing strategy of emphasizing Coinsquare’s Canadian foundations, with its economic and political stability and relatively light regulatory environment.

Diamond said: “Virgile Rostand, Coinsquare's founder, was an early industry pioneer and blue-chip banking industry veteran. He built a custom platform that is unrivaled in Canada, boasting extremely high security standards."

Coinsquare is also continuing Rostand’s unprecedented service to the French-speaking community.

In an interview with Bitcoin Magazine, Diamond noted: “We are the only trading platform that we know of that has a French website. Five percent of our users view our website in French, and we have been commended for it and are proud of it.”

A recent review of exchanges by education website Blockgeeks, placed Coinsquare in the top 10 exchanges. Forex also reviewed Coinsquare and gave it a thumbs up.

Despite positive reviews, however, there have been some dissatisfied customers who have voiced concerns on social platforms and below the Forex review. Common complaints cite long wait times, lost funds, high fees and a non-responsive staff. Comments on other sites also mentioned an unclear fee structure and lack of customer support. Coinsquare has not responded to request for comment from Bitcoin Magazine regarding these concerns.

Canadian compliance expert, Amber D. Scott, CEO of Outlier Solutions told Bitcoin Magazine: "With price volatility and a massive influx of new clients, most exchanges are likely having some growing pains and Coinsquare is likely no exception."

Diversification as a Priority

Coinsquare, based in Toronto, Canada, wants to diversify its business beyond cryptocurrency holdings.

The company already has its own mining operation with 2 MW of power and 1700 mining units in operation.

They are planning to invest in two more mines. Canada, particularly the province of Quebec, is attracting lots of interest from mining companies based on inexpensive electricity and cooler temperatures.

“Canada is about to become a central source,” explained Diamond in a recent interview with Global News. “I think there’s definitely a rush happening now. I think we’re going to have a significant amount of mining in the next few months.”

Trading precious metals is also a part of Coinsquare’s diversified holdings. They trade in silver coins and silver and gold bars.

Coinsquare is planning a Trading and Arbitrage division to take advantage of cross exchange and hedge opportunities.

Also in the works is the launch of CoinCap Funds, a group of funds focused on investments across the digital asset landscape.

Security

According to Coinsquare, they store 98 percent of their assets in cold storage and their trading platform is based on the same technology as that used by the NYSE.

While Bitfinex and Coinbase announced recently they are adopting SegWit, Coinsquare does not have any plans to follow suit just yet.“The decision to use Segwit is an ongoing discussion at Coinsquare and we are not for or against it at this time,” said Diamond.

Meanwhile, they are working on developing trading platforms for international markets and white labelling and licensing its technology for markets around the world.

Coinsquare offers trading in Bitcoin, Bitcoin Cash, Ethereum, Dash, Dogecoin and Litecoin and has a special OTC service for those wanting to trade large amounts.

Scott is optimistic about the future for Coinsquare: “At this stage, Canada has taken a relatively light touch from a regulatory perspective. This has been a boon for exchanges like Coinsquare in many ways. They’ve been able to focus on managing their risks and building their business, rather than fitting into paradigms that weren’t built with them in mind.”

This article originally appeared on Bitcoin Magazine.

Posted on 21 February 2018 | 2:02 pm

SegWit is Coming to Coinbase and Bitfinex’s Bitcoin Exchanges

SegWit is Coming to Coinbase and Bitfinex’s Bitcoin Exchanges

Today, two of the world’s largest cryptocurrency investment platforms, Coinbase and Bitfinex, both announced that they were adopting support for Segregated Witness (SegWit) protocols for bitcoin (BTC) traded on their exchanges.

In its announcement, Bitfinex stated, “The SegWit implementation means Bitfinex users can benefit from lower BTC withdrawal fees (approximately 15 percent) and improved processing times on transactions across the Bitcoin network.” The exchange did make clear that the support for bitcoin deposits and withdrawals using pay-to-script-hash (P2SH) SegWit addresses were the only ones thus far slated for bitcoin and not applicable to bitcoin cash (BCH).

Coinbase, on the other hand, tweeted that it had finished testing for SegWit for Bitcoin. It will phase in the launch, with the goal of “targeting a 100% launch to all customers by mid next week.” Coinbase affirmed its plan for a 2018 SegWit implementation on December 15, 2017 and seemingly delivered on the SegWit statements it made on February 13, 2018.

Reasons for the support of using SegWit addresses are clear.  Prior to the activation of the Segregated Witness soft fork in August 2017, there were concerns about the scalability and malleability of Bitcoin due to the size limit of the blocks and a potential manipulation of the transaction ID. These concerns had been a source of debate for years until the “soft fork” allowed for protocol upgrades to the software.

While many hard and soft wallets already adopted support for SegWit protocols, the move by both companies is huge given the volume of bitcoin traded on each platform. At the time of this writing, both Bitfinex and Coinbase’s exchange, GDAX, accounted for nearly one tenth of global bitcoin trades over the previous 24 hours. This number underestimates the impact on BTC trading volume as it does not include Coinbase’s wallet platform. Both Bitfinex and GDAX are ranked as top 10 exchanges in the world by trading volume, at 5th and 8th, respectively.

The positive news for both exchanges comes at a time of mounting pressure from the public. Coinbase has faced community backlash on higher Bitcoin transaction fees, customers’ inability to withdraw funds to PayPal accounts and credit cards being disabled as a payment method for U.S. customers.

Bitfinex’s announcement comes on the heels of a tumultuous end to 2017 and a rough start to 2018, inclusive of new account registration issues, a CFTC subpoena and firing of auditor Friedman LLP.

With the announcements of SegWit adoption for Bitcoin, it seems that Coinbase has addressed a major issue for its consumer base, and Bitfinex has been able to release some much-needed positive news for its customers amidst its recent controversies.

For more information on Segregated Witness, check out our earlier articles on Bitcoin Magazine.


This article originally appeared on Bitcoin Magazine.

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