Big Banks Won’t Touch Crypto Clients – But These Smaller Banks Will

Cryptocurrencies undoubtedly bring new business opportunities. The expanding industry around digital assets and its customers need more and more services that traditional sectors can provide. Banking is often a bottleneck in the crypto space as most traditional institutions are still reluctant to get their feet wet. Smaller banks, however, are more willing to occupy this niche and reap the rewards.
Also read: Crypto Banking Expands With Positive Interest Rates and New Services
Aiming for a Reward That Justifies the Effort
Navigating the regulatory maze, in the midst of which most crypto companies operate these days, is not easy. Organizations from other industries which work with crypto firms have to deal with the same obstacles. It’s often hard to do business and make a profit. But the current situation also creates opportunities, for there’s a margin to be made in this kind of environment. And it’s usually the small, young and hungry businesses that accept the challenge, hoping that the reward will justify the risks and efforts.
Most big banks have been shying away from the cryptosphere, be it because of the regulatory uncertainty, the volatile nature of the market, or maybe they just see a threat to their good old ways of banking. But small-size financial institutions and representatives of the nascent fintech industry cannot afford to be so shy. In the fast-moving cryptoconomy, every opportunity the growing sector offers is worth exploring and exploiting.

The case of the German WEG Bank illustrates this very well and shows that banks and crypto companies can cooperate in a mutually beneficial way. In the summer of 2018, as part of a partnership deal, the crypto payment provider Tokenpay Swiss AG acquired a 9.9% stake in the bank with plans to increase its share in the future. And this spring, Nimiq, a provider of browser-based payment solutions, also bought 9.9% in WEG Bank. The two now work on a crypto-fiat product called Nimiq Oasis.
A Bridge Between Two Financial Worlds
WEG Bank is now promoting itself as an institution that bridges the gap between traditional banking and digital currencies. According to an announcement posted on Twitter, it has recently secured “full access to a crypto trading and custody license in Estonia.” The bank noted that it’s also applying for a securities trading and custody license in Germany. The licensed Estonian vehicle, WEG Bank later clarified, is WEG Blocklink OÜ, which is its sister company that will act as a servicer to WEG Bank AG.
Estonia has been a leading force in Europe when it comes to creating a favorable business climate for crypto companies. However, it’s been reported that authorities in Tallinn have started tightening some of the rules applicable to the sector. The new regulations oblige locally registered entities to keep their headquarters in the jurisdiction, while foreign companies are required to maintain an office in the Baltic country.
Fiat Products Backed With Crypto Assets
Having crypto companies among stakeholders is not a mandatory prerequisite to being a crypto-friendly financial institution. Since the launch of its crypto business six years ago, San Diego-headquartered Silvergate Bank has established itself as one of the few banks in the United States that is readily providing services to the digital asset industry. It serves more than 500 entities dealing with cryptocurrencies.
Silvergate has announced its intentions to offer loans collateralized with cryptocurrency. In a filing with the U.S. Securities and Exchange Commission, the lender describes its Silvergate Exchange Network (SEN) and explains that “an exchange client could hold the digital currency collateral, we could use the SEN to initially fund the loan from our balance sheet, and in the event of a collateral deficiency, we could immediately sell the digital currency collateral through our exchange client and use the SEN to bring the resulting funds back to our balance sheet.” Further elaborating, the bank points out:

We believe there may be attractive opportunities to provide digital currency borrowing facilities to deepen our high quality customer relationships and further enhance our interest income.

Other crypto-friendly banks operating in the United States include New York-based Quontic, which is now providing services to crypto companies in its strictly regulated jurisdiction. Elsewhere in the U.S., businesses from the industry can manage their finances with the help of institutions like Simple Bank and Ally Bank. In Europe, corporate and private clients can rely on the banking services provided by a new generation of online and mobile banks such as Revolut, Wirex, Bankera, and Bitwala.
Fintech startups have immensely helped the expansion of crypto banking. Their platforms turn your smartphone into a bank office or a crypto exchange, challenging the traditional understanding of what banks should look like. They are willing to experiment and cater to the needs of crypto businesses and users. In the face of this competition, large financial institutions have yet to integrate digital assets into their business models and strategies.

Banks working with cryptocurrencies and companies specializing in crypto-related banking are likely to see more regulatory clarity in the future with the adoption of comprehensive national legal frameworks. Along with Estonia, Malta, Gibraltar, and Switzerland form a group of nations where crypto businesses can operate in a friendly regulatory environment. For example, financial authorities in Switzerland recently licensed two companies, SEBA Crypto AG and Sygnum AG, to serve as banking institutions for the country’s growing crypto industry.
And under increasing pressure, old Swiss banks like Zurich-based Maerki Baumann are turning towards the crypto market. “We suddenly had 400 people wanting to talk with us. And they were exactly the kind of people we had been struggling to access for 10 years with traditional private banking offerings,” CEO Stephan Zwahlen told Swissinfo last month. “We found that they were typically between 30 to 40 years old, very well educated and with an entrepreneurial mindset,” he added, speaking about how his bank found an alternative revenue source in the Swiss crypto sector.
Expanding banking services are sure to attract more investors and users. If you are looking to safely and securely enter the crypto space, you can do so by purchasing bitcoin cash (BCH) and other major coins with a credit card at You can also freely trade your cryptocurrencies on our noncustodial, peer-to-peer marketplace, which already has thousands of users around the world. Also, check out our newly launched premier trading platform Registered users can access it right now.
Do you expect to see large banks offering services to clients dealing with cryptocurrency in the future? Tell us in the comments section below.
Images courtesy of Shutterstock.
Do you need a reliable bitcoin mobile wallet to send, receive, and store your coins? Download one for free from us and then head to our Purchase Bitcoin page where you can quickly buy bitcoin with a credit card.
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Bron : Bitcoin en toekomst van crypto

Review: Coinfinity’s Card Wallet Provides Tamper-Proof Cold Storage

Outside of exchanges, few cryptocurrency industries are as prosperous as custody. At this stage in Bitcoin’s lifespan, trading crypto and storing crypto appear to be the most popular use cases for crypto – in that order. As a result, a thriving aftermarket for crypto storage solutions has sprung up, both custodial and non-custodial, hot and cold, online and offline. Card Wallet from Coinfinity is the latest product to enter the fray, providing a secure way for storing BTC and ETH offline.
Also read: Developer Reveals Token Reward Platform Fueled by Bitcoin Cash
Cold Storage Is Hot Right Now
As the dangers of storing funds online in custodial wallets and exchanges have been emphasized through a plethora of hacks and exit scams, the cold storage business has boomed. From hardware wallets resembling fancy thumb drives to devices disguised as calculators and credit cards, the range of ways to self-custody digital assets seems endless. The simply named Card Wallet by Coinfinity does exactly what it sounds like. On the surface, this plastic card looks like an extremely low-tech way to store bitcoin core or ether, but its unprepossessing exterior is deceptive. Peer a little closer at the credit card-shaped wallet and you’ll notice some interesting details.
The Coin Wallet arrives inside a slender cardboard sleeve.
There are all kinds of anti-counterfeiting measures at play on the Card Wallet’s service, including microprinting and continuous color gradient techniques, giving it a look more akin to cash. The banknote-based design makes sense once you learn that Coinfinity – Austria’s first Bitcoin company – developed this device in conjunction with the Austrian State Printing House. They’re best known for printing passports, a skill they’ve refined over the course of 200 years, and thus know a thing or two about anti-counterfeiting.
Forgery-Proof Crypto Storage
The notion of forgery sounds strange in a crypto context. After all, bitcoins are impossible to falsify. The reason why the Austrian State Printing House has gone to town on the anti-forgery techniques they’ve used is to prevent fake cards from entering circulation and to provide guarantees that the private key, which was generated offline, remains offline. The private key for the cryptocurrency address printed on the card is concealed beneath a hologram on the back. It’s accompanied by a warning not to scratch this area – not even a little, just to test it – as to do so would be to risk the security of your funds. The Card Wallet is basically a modern version of the Casascius physical bitcoins that have become collector’s items today.
Save for the wallet address printed across the center, the BTC and ETH wallets look identical.
The code printed beneath the Card Wallet’s seal can be thought of as Schrödinger’s key: until the moment it is observed through scratching off the protective covering, it effectively doesn’t exist. The manufacturer has no record of it. As a result, you can send funds to the address printed on the front of the card, but you can’t retrieve them until you reveal that seal, and doing so will essentially penalize you to the tune of the $67 the Card Wallet retails for. Think of it as an extremely high BTC network fee, and use it as an incentive not to dip into the funds stored on the card, save for an emergency.
Of course, technically nothing is stored on the card: it simply holds the secret code needed to send the bitcoin from the address in which it is currently locked on the BTC network to a new address on the network. To all intents and purposes, though, Card Wallet might as well physically hold those coins, since without it to hand, you’ll never be able to move those coins again.
Testing the Card Wallet
Unlike a hardware wallet, there’s nothing to power up or plug in here, but that doesn’t mean that testing the Card Wallet is an entirely analog experience. There is, after all, the QR code printed on the wallet, which, when scanned, reads the BTC address printed along the center. In testing, I scan the code using the Wallet and am prompted to select the amount of BTC I wish to send. When I drag the slider, the funds are released and that’s it: the first satoshis prepare to wing their way to my Card Wallet.
When the time comes to move or sell that bitcoin, I will remove the security seal and import the private key that’s revealed underneath into a noncustodial wallet such as Electrum. In theory, you could continue to use the wallet address securely, even with the seal scratched off, provided you destroyed the exposed private key. There would be little advantage to doing so, however, and it makes sense to view the wallet as compromised once the key has been revealed.

On the reverse of the card, there’s another QR code that can be scanned, marked Chainlockcode (CLC). This requires installation of a dedicated mobile app, which will display the balance of the card – and of any other Card Wallets you wish to integrate into it – allowing you to manage all your cards within one app without revealing their private keys. Most people are unlikely to need this, since typing the wallet address into a block explorer achieves the same result, but if you’re a serial Card Wallet collector, it might prove useful
Alternative Cold Storage Solutions
While Coinfinity doesn’t support BCH at this time, bitcoin cash holders have the option of generating their own paper wallets, which can be printed at home. This theoretically provides the same security guarantees, and with the wallet folded and sealed correctly, it is effectively tamper-proof, albeit without the same allure as Card Wallet’s impressive shiny hologram. Cold storing cryptocurrency isn’t about showing off, however, and the winning wallet is the one that keeps your funds the safest.

Some bitcoiners will balk at paying $67, in the Card Wallet, for a cold storage solution they could roughly replicate at home for the cost of a sheet of printer paper. Others will appreciate the imperviousness of the Coinfinity card, its convenient credit card shape, and its superior tamper-proof seal. As such, its value is really in the eyes of the beholder. For the same price you could pick up a basic hardware wallet, which will allow you to send, receive, and store a range of cryptocurrencies. That said, there’s something magical about the seal on the Coinfinity that challenges you not to sully it, but rather to sporadically send funds to it, building up your nest egg over time.
What are your thoughts on Coinfinity’s Card Wallet – would you use it? Let us know in the comments section below.
Disclaimer: does not endorse or support claims made by any parties in this article. None of the information in this article is intended as investment advice, as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any products, services, or companies. Neither nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Images courtesy of Shutterstock.
Do you need a reliable bitcoin mobile wallet to send, receive, and store your coins? Download one for free from us and then head to our Purchase Bitcoin page where you can quickly buy bitcoin with a credit card.
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Bron : Bitcoin en toekomst van crypto

PR: and Watford FC Drive Bitcoin Awareness

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. is not responsible for or liable for any content, accuracy or quality within the press release.
Thursday, September 12th – The Bitcoin logo (₿) will appear on the shirt sleeve of Premier League football club Watford this season, as part of an educational drive led by the innovative sports betting brand
The logo is part of a wider campaign to improve awareness around Bitcoin and educate the public on the benefits of using cryptocurrencies.
It is led by Watford FC’s primary shirt sponsor,, which announced a landmark deal with the Hornets team in June.
Justin Le Brocque, Head of Marketing, said: “The crypto community have been hugely supportive of us since we began, so putting the Bitcoin logo on the sleeve felt like a fun way to give something back while also showing them our support.”
The sponsorship will be crowd-funded, allowing anyone who holds Bitcoin the exclusive opportunity to share in the perks granted to Watford FC sponsors. Contributors can bid for public LED space shown live during matches, use of the Bitcoin box for eight people and exclusive Watford FC merchandise.
“Some of the biggest challenges we and others like us face is raising awareness, dispelling common myths around cryptos and educating the public on the advantages and opportunities presented by cryptocurrencies,” added Le Brocque.
“Our partnership with Watford marks a major disruption in the world of traditional sports sponsorship, and by adding the Bitcoin logo we hope this world’s first partnership will create even more buzz around cryptocurrencies.”
Scott Duxbury, Hornets’ Chairman & CEO, added: “Placing the Bitcoin logo on a Premier League shirt is something that challenges the accepted norm. We’re excited about the partnerships and the potential for new global conversations that it could help start for our club.”
To celebrate the Bitcoin sponsorship with all Bitcoin holders, is also giving away a 2 mbtc Free Bet to all players if Watford scores against Arsenal this coming Sunday. More information on the amazing offer can be found
Last month, announced a pioneering three-year partnership with Watford, marking the first time a company known for blockchain and cryptocurrency expertise had appeared on the front of a Premier League shirt.
The announcement was accompanied by the launch of’s ‘Know No Borders’ campaign, which highlights the brand’s commitment to putting players at the heart of the action, no matter their country, sport, team or currency. accepts a range of fiat and cryptocurrencies, including Bitcoin, to deliver the very best in fun, fast and fair gaming.
To get involved, all you need to do is visit the site
Founded in 2016 as part of the Coingaming Group, is a leading multi-currency sportsbook operator that has redefined online sport betting by combining cutting-edge technology with cryptocurrency expertise and a passion for offering its players with the ultimate fun, fast and fair gaming experience. provides an expansive range of betting action across all major sports and eSports, offering players more than 350,000 pre-match events per year, as well as comprehensive in-play content and one of the industry’s most diverse array of both crypto and local currencies.
It is the first sportsbook of its kind to introduce streaming across all major sports and a cash out function with recognised as being a rising star within the online sports betting world. prides itself on its secure and trustworthy betting service, with withdrawal times of around 1.5 minutes among the fastest in the industry.
For more information about, please visit
Lucy Thomas,
Head of PR & Sponsorship,
Coingaming Group,
Supporting Link
This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
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Bron : Bitcoin en toekomst van crypto

Developer Reveals Token Reward Platform Fueled by Bitcoin Cash

There’s a new crypto platform called Honeypoints that just released for beta testing on Apple’s Testflight. The digital currency application created by two former employees aims to fuel merchant adoption with loyalty rewards. The Honeypoints app is meant to stimulate retail acceptance by rewarding customers with unique crypto tokens when they make a purchase or show loyalty.
Also Read: SLP Developers Publish Specs for a Unique Type of Non-Fungible Tokens
Honeypoints: An SLP Token Reward Platform Built on the Bitcoin Cash Network
Last week at the Try Swift conference in New York, former software engineer Jean-Baptiste Dominguez unveiled a new crypto-based rewards application powered by the Bitcoin Cash (BCH) chain called Honeypoints. The latest SLP project was also designed by’s former developer Alfonso Rocha, and both cofounders aim to “make cryptocurrencies available to everyone.” The new application is currently in beta for iOS devices and the Honeypoints team plans to launch worldwide on Sep. 30. Basically, the Honeypoints platform acts as a crypto wallet that allows users to store BCH and Simple Ledger Protocol (SLP) tokens. But the application’s main feature allows anyone to construct a loyalty program that rewards patronage with SLP token rewards. At the Try Swift conference, attendees got their first glimpse of the powerful SLP protocol combined with BCH and Dominguez told the audience how retailers and brands can create Honeypoint reward programs.
“We empower businesses and individuals to retain their customers through a crypto-currency reward token — Coming soon,” the website reads.

After creating a custom Honeypoints card system merchants can reward crypto tokens to customers who make purchases in-store or online. Retailers and brands could also reward patrons who share social media posts on Twitter, handle a specified task, and even be rewarded for simply visiting a website. Dominguez and the Honeypoints team hopes to see the SLP token system mature greatly with tokenization bringing the same value to the table as it did with Ethereum. While demonstrating the new platform, Dominguez told the Try Swift attendees that “you don’t need a development team to have your enterprise-grade system for your most loyal customers.” The software engineer added:
We don’t want anybody to be confused or scared by the concept of cryptocurrencies. We just want them to enjoy the benefits of the technology. Everything that we’ve done, from the concept to the app itself, is designed to be useable for everyone instantly.

Software engineer Jean-Baptiste Dominguez at the Try Swift event in New York.
Testing Honeypoints Beta Version
Using the Honeypoints application is intuitive for anyone who has used a crypto wallet before, but it’s also simple enough for crypto newcomers as well. The wallet side of the app can store send and receive BCH, alongside the ability to store SLP tokens in a noncustodial fashion. Honeypoints uses a four-digit PIN to secure the wallet and a mnemonic seed phrase for backup and restoration purposes. The PIN is needed if you want to access the mnemonic’s 12-words and initiate a wallet restoration process as well. Right now, the beta wallet shows you balances in BCH and SLP tokens and also lets you purchase BCH for gas. If someone randomly sends you a token to your Honeypoints wallet, you can choose if you want to add it to the wallet’s balance or not. On the bottom right there’s a compass icon that says Discovery which shows how people can earn reward tokens by tweeting something from their Twitter account or handling another task. For instance, on the Honeypoints beta version, there’s a “Spice Must Flow” task available and if you share a meme from the Spicefeed on Twitter you get 200 spice.
A look at the beta version of Honeypoints.
The beta version also gives you the ability to forge a new SLP token from the wallet interface by pressing the “Create token” tab. You can customize the SLP token’s name, ticker, quantity, number of decimals, tether a document URL, and choose if the minting baton will be active or not. Just like the rest of the SLP applications out in the wild today, a small fraction of BCH (gas) is needed to create tokens and send them as well. The Honeypoints beta release from Apple’s Testflight also allows users to toggle between the BCH livenet and testnet.
‘Bitcoin Cash Development and Awareness Is at an All-Time High’
The SLP ecosystem has become very popular since the summer of 2018 and there’s a whole universe of ideas and token projects in the making. There have been thousands of SLP tokens created onchain and developers have even figured out how to create nonfungible SLP tokens and pay BCH dividend payments to token holders. At the Try Swift event in New York, Dominguez exposed the benefits of SLP tokens fueled by the BCH chain to a global audience.

HoneyPoints is now in public beta. 🐝 Get crypto rewards from your favorite places by downloading the iOS beta from:
— HoneyPoints (@honey_points) September 7, 2019

The Honeypoints founders believe the demonstration has shown attendees a real-world use case that leverages cryptocurrency solutions. The Honeypoints engineers explained in a press release on Sep. 12 that the team chose BCH because it’s “20X cheaper” than using token systems that stem from Ethereum. “Recent tests of the Bitcoin Cash blockchain also proved that it can handle more transactions than Ethereum while keeping its costs low,” the press release highlights. Moreover, the startup emphasized that a Honeypoints token rewards system is friendlier to the environment than creating paper rewards programs.
Seeing the SLP system mature significantly, and after the Bitcoin Cash City conference in North Queensland, Australia, the Honeypoints creators Dominguez and Rocha believe “Bitcoin Cash development and awareness is at an all time high.” To them, it’s the perfect time to launch the crypto rewards platform and the team is currently onboarding their first retailers and brands via the Honeypoints beta Telegram group. You can follow the Tokyo-based startup’s Twitter page for upcoming announcements on when the application launches at the end of the month. SLP platforms are appearing left and right these days, and the rewards system is another token project built using the BCH chain in a unique manner.
What do you think about the Honeypoints application? Let us know what you think about this application in the comments section below.
Image credits: Shutterstock, Honeypoints, Pixabay, and Twitter.
Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Cash Block Explorer tool? Our block explorer can also search the SLP universe of tokens too. Simply complete a Bitcoin Cash or SLP token address to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry.
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Bron : Bitcoin en toekomst van crypto

Crypto’s Forgotten Altcoins Re-Emerge: A Look at What’s Happening

During the crypto bull market of 2017, everybody was happy. It wasn’t just the BTC maximalists, BCH enthusiasts, or proponents of ETH. Privacy coins like monero were doing great, and even charity-supporting “comic relief” coins like doge were riding high. Since that enchanted time, however, the diverse class of tokens known as altcoins has somehow faded into obscurity. Just recently though, the tectonic plates of alt-crypto deadlock appear to be rumbling, and change might be just on the horizon for the spare change of the crypto world.
Also Read: David Chaum’s Elixxir Invites Smartphone Users to Test Private Messaging
The Lost Altcoin Conversation
On December 17, 2017, BTC reached an all-time high of over $20,000. Three days later, on December 20, BCH would peak at almost $4,000. In the same general time period ETH, XRP, LTC, and other market cap leaders would also achieve apogee, with the at-press-time-valued $0.0024, dogecoin then being worth well over a penny. While it’s clear to see why interest in the 2000+ altcoins on the market has waned since 2018 shattered so many crypto fantasies, market activity last week indicates something new may be on the horizon for crypto’s forgotten class.
Weekly numbers are up for many non-BTC tokens.
In the past week, a slight dip in BTC dominance has gotten some in the space excited about their altcoin pet projects, announcing with gusto to crypto Twitter that alt season is back. Others are not so sure, and remain understandably wary of the recurrent hype. Regardless, at press time EOS, ETH, and XMR are all up significantly over the last week, with EOS enjoying a seven-day price surge of over 12%. Though not merely an “altcoin” by the standards of many, BTC competitor bitcoin cash has also experienced a significant rally.

Crypto Twitter in a nutshell:
____#altseason $btc $alts
— CryptoLeee 🍜 (@CryptoLeee) September 10, 2019
The Forgotten Fun of Hunting Longshots
Time was that folks used to find interesting, fledgling projects, research them, and then load up on mounds of tokens for fractions of a penny. The excitement of this heavy bag holding for nascent projects was intoxicating. “If this even hits one dollar, I’m gonna be rich!” While investors are still doing this, the focus at large in the crypto space has shifted to the narrow world of BTC maximalism and basic religious hatred for anyone, not into the “right” crypto, or dominant ones. Still, Twitter accounts like that of Crypto Seer are holding out hope:

#Altcoin Marketcap Dominance. If you’re not too zoomed in it’s not that hard to really be patient. You just gotta wait for 2-3 months of sideways and you’ll know where we’ve bottomed.
— Crypto Seer (@crypto_seer) September 4, 2019
Financial experts and other Twitter commentators, however, are speculating that until BTC hits a new all-time high, nothing much should be expected from the legions of hopeful tokens in the shadows. RT host and well-known BTC maximalist Max Keiser doesn’t mince words when it comes to his own views on the matter. Citing a still steady and growing BTC dominance, the bombastic crypto influencer tweeted on September 3rd:
Alts never coming back… Sorry.

How Altcoins Can Gain Traction
In the fast-moving, oft-sensationalized world of crypto, there is no shortage of scams. Unfortunately, this reality has led to a kind of polarization in the space, where sometimes, no matter how good an idea is, if it ain’t BTC, it often isn’t going to be well-received. The tendency of money in economics is to consolidate into the most saleable good. For students of the Austrian school, this fact is well understood. The money that is most useful and liquid globally, will be the one most people want to use. On top of this framework, though, micro-economies and unique demand for various customized projects and initiatives still exist. This is where altcoins and unique tokens like those of the Simple Ledger Protocol (SLPs) can come in and provide flexible utility to major players.
Interesting projects like Augur, an incentivized system for predicting future events accurately, and dividends for anonymous bearer shares on BCH using SLPs, are illustrative of the continuing innovation the crypto space encourages. Stablecoins and exchange coins like USDT and BNB are also an emergent force, and are molding the market in unique ways, with a tendency to be viewed as more respectable and reputable than other alts.
The number of coins on the market has proliferated exponentially over the past years, so sifting through the heaps obscure tokens to find a winner can be a daunting task. Back in May, 2018, there were around 1,500 altcoins on the market. At press time there are well over 2,300. Deciding which are gems and which are shit takes time, so in a sense the migration to major tokens and the proportional, contemptuous distaste for alts is understandable. This shift could bode well for SLPs, however, and tokens built on top of established and reputable chains, providing unique functionality to already well-respected blockchain eco-systems.

USD: The World’s Biggest Shitcoin
If all the world is a crypto market, and Carl Menger’s monetary theory was correct, there will eventually be a clear winner as the top dog, used-for-almost-all-transactions money of the world. Viewing the current global reserve currency under the lens of a crypto perspective, the USD fails to pass the test of a good token. It’s centralized, built on extremely shoddy and dysfunctional “code” (violent laws and fiat mandates), and, in the words of Donald Trump, is created not from market demand but from “thin air.”
Whether alt season is upon us or not is anybody’s guess. That notwithstanding, many crypto advocates are happy to see their beloved class of tokens reemerge from the shadows a bit, and step back into the mainstream conversation. Polarized and venomous as the space may be, there is still one thing many agree on, and that’s the fact that the broken fiat system is rapidly becoming obsolete, and a new system is on the way. Which long-shot alt or top market cap player will finally upset the apple cart is worthy of some popcorn-munching attention, either way.
What’s your favorite token? Let us know in the comments section below.
Images courtesy of Shutterstock.
You can now purchase Bitcoin without visiting a cryptocurrency exchange. Buy BTC and BCH directly from our trusted seller and, if you need a Bitcoin wallet to securely store it, you can download one from us here.
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Bron : Bitcoin en toekomst van crypto

Greta Thunberg Joins Satoshi in Questioning Bank Bailouts

Saving planet Earth is a noble goal with many different dimensions. Climate change needs to be addressed vigorously as our world warms up faster than ever. Economic development needs a higher degree of financial freedom to provide everyone access to opportunities and wealth. A teenager from Scandinavia, dubbed a “next generation leader,” has once again challenged governments and politicians. “If we can save the banks, we can save the world,” Sweden’s Greta Thunberg told those who always find money to postpone the problems but often claim real solutions are too expensive.
Also read: Initiative to Curtail Negative Interest Rates Gains Traction in Germany
The Greta Thunberg Effect
Greta, a 16-year-old student from Stockholm, has become a loud voice for bold action against the looming “climate crisis” as she calls it. Last year, the self-made environmental activist began her “school strikes” to protest the inability of decision makers and the current generation of grownups to tackle the issue. Handing out leaflets stating “I am doing this because you adults are shitting on my future” outside the Swedish parliament during school hours was how she chose to send her message.
She started her campaign before Sweden’s general elections in September 2018, after the hottest summer in over two centuries brought heat waves and wildfires to the Nordic country. Greta missed school for three weeks to sit down in front of the Riksdag and demand that her government take steps to reduce carbon emissions in accordance with the Paris Agreement. After the election, her “Skolstrejk för klimatet” protest continued on Fridays, inspiring similar actions by thousands of students around the world in what has been dubbed the “Greta Thunberg effect.” She is now participating in demonstrations throughout Europe as well.

The strategy eventually gave her a world stage where she told business leaders their financial success comes with an unthinkable price tag, warned politicians all their parties have failed, and told media not enough has been done to create broad public awareness about climate change. Her blunt manner and the way she puts the problems of global warming in perspective made her a coveted public speaker for the cause of all scientists and activists who point out we have only about a decade before our mistakes become irreversible.
Not content with limiting herself to protests and speeches, Greta Thunberg has set a personal example for how everyone can reduce their carbon footprint, including giving up flying and switching to a meat-free diet. She also managed to convince her own parents, Swedish opera singer Malena Ernman and actor Svante Thunberg, to implement these life-style changes in their family. Her efforts won support from academics and global leaders, while philanthropists and investors donated funds to the grassroots movement Extinction Rebellion and school strike groups in various countries.
We Have Money, We Lack Will
Thunberg’s latest mission took her on a sail across the Atlantic this past August. The 16-year-old crossed the ocean from Plymouth in the U.K. to New York in a 60-foot racing yacht, a vessel equipped with solar panels and underwater turbines. The trip was announced as carbon neutral and was organized to demonstrate Greta’s commitment to the goal of reducing CO2 emissions. It started on August 14 and took about two weeks. On the other side of the pond, the young activist will be attending the United Nations Climate Action Summit in New York City and the COP 25 climate change conference in the Chilean capital Santiago.
Greta Thunberg arrived in America ahead of the September 20 global climate strikes which are expected to bring to the streets millions of protesters in over 150 countries. They are scheduled to coincide with the UN summit on climate change which kicks off on September 23. Greta’s relentless activism helped inspire the protests. “I want September 20 to be a tipping point. I want world leaders to feel like they have too many people watching them,” she said during an event on Monday, directly confronting elites as usual. And her strongest message was addressed to those who insist it’s too expensive to deal with the climate crisis by adopting comprehensive new policies:

If we can save the banks, we can save the world.

Quoted by the Common Dreams portal, Greta further noted that “If there is something we are not lacking in this world, it’s money. Of course, many people do lack money, but governments and these people in power, they do not lack money.” The Swede believes we also need to have the polluters pay for the damage they are causing. “So, I would not even respond to that argument, because it has been said so many times, the money is there. What we lack now is political will and social will to do it,” she stressed.
Indeed, the last global financial crisis showed governments are willing to spend billions to save financial institutions deemed too big to fail, despite the wrong decisions of their very well paid managers. According to a paper authored by Deborah Lucas, finance professor at the MIT Sloan School of Management, the total direct cost of crisis-related bailouts during the 2008 financial meltdown in the U.S. alone was about $498 billion on a fair value basis. That amounted to 3.5% of the country’s gross domestic product in 2009. Lucas also found the main beneficiaries were the large, unsecured creditors of financial institutions, big institutional investors, pension and mutual funds, insurance companies, and sovereigns.

Calculating the cost of bank bailouts correctly is important as their real price tag often remains hidden from taxpayers whose money is spent to rescue wealthy bankers. That’s even more important now when the next financial crisis seems to be on the horizon, with central banks preparing for new interest rate cuts and planning for more quantitative easing. Just as Greta points out, the funds are there and they are definitely more needed elsewhere. Supporting the limiting of factors that lead to intensified climate change is worth more than financing policies which simply postpone the problems of the traditional financial system for the next generations to solve.
While inventing Bitcoin, Satoshi Nakamoto must have thought about these matters. We know the creator of the world’s first decentralized cryptocurrency inscribed into the genesis block the Times headline “Chancellor on Brink of Second Bailout for Banks” from the Jan. 3, 2009 issue. It’s difficult to know exactly why Satoshi did so, but he was likely worried about the continued wasting of people’s money on saving failed corporations that under normal market conditions would have been left to go bankrupt, just like thousands of homebuyers, for instance.

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Do you think the world would have enough money to adequately address the problems of climate change if it didn’t spend so much on bank bailouts? Share your thoughts on the subject in the comments section below.
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PR: Bitmain Announces Highly Anticipated World Digital Mining Summit

Cryptocurrency mining leaders to speak include: Jihan Wu (Bitmain Co-Founder), John Ge (Matrixport CEO), Marco Streng (Genesis Mining CEO), and more.
HONG KONG, JULY, 30 2019 – The World Digital Mining Summit (WDMS) hosted by Bitmain – the world’s top 10 and China’s second largest fabless chipmaker – is set to return on 8-10 October in Frankfurt with a focus towards industry investment and innovation for the mining sector.
The second edition of the WDMS will expand its mining agenda to include various financial solutions into digital mining, mining optimization solutions, and showcase top mining and blockchain companies.
Over the two-day mining summit, attendees will have the opportunity to undertake workshops, hear keynote speeches from the industry’s leading minds, and meet new and old acquaintances from the mining industry.
Thought leaders confirmed to speak include Jihan Wu (Bitmain Co-Founder), John Ge (Matrixport CEO), Marco Streng (Genesis Mining CEO), amongst others. A full and updated list can be found here.
The 2019 WDMS will also provide attendees a chance to network with key industry decision makers, mining experts, investors and entrepreneurs.
The summit comes at an important time for the development of the cryptocurrency mining industry as the sector matures and demand for new and innovative ways to enhance digital mining grows.
WDMS continues to be the ideal setting for global miners to gather, share ideas and shape the future of the mining industry.
The full event agenda and ticket details for attendees can be found here.
Members of the press can apply for a pass by sending an email to
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Indian Lawmaker Raises Hope of Positive Crypto Regulation

A member of the upper house of the Indian parliament has given the crypto community some advice on what can be done to influence the government’s crypto decisions. He encourages anyone to reach out to him and discuss their concerns, including issues related to the draft bill to ban cryptocurrencies in India. His words and suggestions have given the crypto community hope.
Also read: India’s Popular ‘Who Wants to Be a Millionaire’ Show Gives Crypto a Boost
Rajya Sabha MP Ready to Discuss Crypto
Indian Member of Parliament (MP) Rajeev Chandrasekhar has given the crypto community some advice in Tuesday’s episode of the Blockworks Group’s Untold Stories podcast. He discussed various crypto-related topics, ranging from the Indian government’s policies and the draft bill to ban cryptocurrencies to the banking restrictions by the central bank and the supreme court hearing. The MP is scheduled to meet with some members of the Indian crypto community next week.
Chandrasekhar is a member of Rajya Sabha, the upper house of the parliament of India, and the ruling party, Bharatiya Janata Party (BJP). He represents the state of Karnataka, of which Bengaluru is the capital.
BJP MP Rajeev Chandrasekhar
During the podcast, the MP was asked about the report and draft bill to ban cryptocurrencies, submitted by an interministerial committee headed by former Secretary of the Department of Economic Affairs Subhash Chandra Garg. The question came from Nischal Shetty, CEO of local crypto exchange Wazirx, who was a guest on the podcast. He informed the MP that this bill proposes a ban on cryptocurrencies in India without involving or consulting any industry experts. “Can we expect industry participation to make the report more positive, and better for our crypto ecosystem in India?” the CEO asked the MP.
“Those of you, who have a view on crypto and believe that there is sufficient room, in the public policy space, for the policies to evolve and be inclusive of innovation, and at the same time, address the security and other concerns. They should just reach out to me,” Chandrasekhar replied, elaborating:
I have the ability to create, let us say, documents with your inputs, and have that presented either in parliament or to the government.
“So, don’t worry about what goes on in government, and that is one particular point of view,” he remarked. “India is a fairly vibrant democracy in the sense that you can still approach people like me, and evolve an alternate view and have that alternate view be discussed, narrated, and debated within government. I can do that, you know, I’d encourage you to reach out to me.”

First Step to Influencing Government’s Policies
Chandrasekhar further detailed how anyone can get in touch with elected representatives and discuss their concerns, adding that many are already doing so on all kinds of issues. He reiterated that India is a vibrant democracy and there are many MPs like him who would listen. Many of them can be contacted via Twitter or Facebook; some have even posted their mobile numbers online, he said. The MP proceeded to encourage the crypto community to reach out and meet with him to discuss their concerns, declaring:
I actively encourage people to come, sit with me, and believe in my ability to articulate their positions, and their points of view to people in government and their leadership of the government, and hopefully persuade them to do the right thing.
As for the pending crypto case at the country’s supreme court, he admitted that he has not studied the case and has only read about it in media reports. Nonetheless, the MP emphasized: “I’m happy to look at it, I’m happy to even suggest an approach that is workable, if there is any room for that. I am happy to engage. I never say no to having a conversation with anybody on any issues related to technology.”

Sathvik Vishwanath, CEO of local crypto exchange Unocoin, tweeted that he felt “super pumped” after listening to Chandrasekhar. He is scheduled to meet the MP next week. Noting that the lawmaker “acknowledges innovation and can also influence policymaking,” Vishwanath is now convinced:
Banning need not be the destiny of crypto in India.
MP Wants to Help Crypto Community
Shetty is also meeting Chandrasekhar next week to further discuss the issue concerning crypto regulation in India. He has also been running an “India Wants Crypto” social media campaign, calling for positive crypto regulation in the country. The campaign has entered its 315th day.
Besides being an MP, Chandrasekhar is an entrepreneur with experience in technology, finance, entrepreneurship, and the economy. He founded BPL Mobile in 1994 and Jupiter Capital in 2005. The latter is an investment and financial services firm headquartered in Bangalore, with a presence in nine countries. Bangalore, known as a high-tech hub of India, ranked number one in the country for crypto jobs, according to job listing site Indeed.
In 2006, Chandrasekhar was elected to the Rajya Sabha to represent Urban Bengaluru, after serving on several committees including the Prime Minister’s Council on Trade and Development. He has also been on various standing and select committees of parliament including defense, finance, telecom, urban development, GST, and real estate. The MP has advocated and intervened on issues such as governance and regulatory reforms, policymaking, institution building, freedom of speech, net neutrality, privacy, protection of children, national security and the welfare of the armed forces personnel.
Wazirx CEO Nischal Shetty
Shetty told Wednesday:
He said he wants to help. And the best thing is that he’s previously helped with net neutrality in India and with making privacy laws better for people. I’m looking forward to the meeting and knowing his background I’m confident he’ll help us.
“He has a tech background and that will help crypto immensely as he understands technology really well,” the Wazirx CEO elaborated. “He has been an entrepreneur who has been instrumental in the telecom revolution of India. It is natural for him to understand cutting edge technologies such as crypto. We’re going to discuss the way forward with him, get his inputs and chart out our next path under his guidance.”
Chandrasekhar Asked RBI to Develop Framework
The Rajya Sabha MP has previously urged the government and the Reserve Bank of India (RBI) to develop a framework to handle new innovations and trends. In December 2016, he wrote a letter to the late Finance Minister Arun Jaitley, detailing some issues he expected to emerge as the government and the RBI moved to increasingly digitize the Indian economy. Particularly, he suggested that the banking and payments ecosystem would need to be transformed.

Citing a surge in domestic bitcoin trade, a “move of black economy to the dark internet,” and how “The surveillance and policing requirements are challenging,” he wrote:
I suspect the government and RBI are ill-equipped currently to deal with this … I am drawing your attention to the need to be ahead of the curve on this rather than behind and so the RBI must develop the capabilities on this urgently.
However, the duo did not create any framework. The RBI and the Ministry of Finance independently dealt with the rising interest in cryptocurrencies by issuing several warnings to the public about the risks associated with them. When interest did not wane, the central bank issued a circular, banning regulated financial institutions from providing services to crypto businesses. The ban went into effect in July last year, and banks subsequently closed the accounts of crypto exchanges, forcing some of them out of business.
Chandrasekhar shared his thoughts on why the RBI decided to issue a banking ban instead of setting up a framework to deal with crypto assets. He asserted that there are two ways of addressing a problem in any governmental system. One is to stay ahead of the curve, which he said is hard for a government to do, while the other is to shut down the threat. While maintaining that he himself does not want “innovation to be trampled by a paranoid approach to regulation,” the MP acknowledged that the RBI has chosen this path.
During last month’s supreme court hearing of the writ petitions against the RBI ban, the court gave the central bank two weeks to answer the representation filed by the Internet and Mobile Association of India (IAMAI) regarding measures crypto exchanges could take. The hearing is scheduled to resume on Sept. 25.
Do you think the Indian crypto community will succeed in convincing the government to introduce positive crypto regulation with the help of MP Chandrasekhar? Let us know in the comments section below.
Images courtesy of Shutterstock, Rajeev Chandrasekhar, and Nischal Shetty.
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The Hype Has Faded But Demand Remains for Enterprise Blockchains

The days when blockchain was portrayed as a cure-all for businesses of all kinds have gone. Now that the hype has faded, enterprise blockchain projects have quietly begun to ship. While some of these initiatives have faded into obscurity, others have prospered, suggesting that there’s life in enterprise blockchain yet.
Also read: David Chaum’s Elixxir Invites Smartphone Users to Test Private Messaging
After a Shaky Start, Enterprise Blockchain Adoption Ramps Up
When IBM and shipping giant Maersk teamed up to create a blockchain solution for supply chains, the two goliaths seemed to be shooting towards an open goal. The product, dubbed Trade Lens, would help shipping companies manage cargo and inventory, eliminating the vast bulk of administrative work required to keep track of consignments, cutting costs by up to 20% in the process.
The promise was of an “open and neutral” supply chain platform “underpinned by blockchain technology” and “supported by major industry players.” The project was slow to gain traction, however, with the duo initially finding it hard to secure major partners. Now, almost two years on, the project is finally gathering momentum, but the question still remains as to why two major players found it so hard to bring partners onboard. The answer may lie in the way that IBM-Maersk envisioned their blockchain from the outset, and the level of trust they asked their partners to place in them.
Rick Schmitz, CEO of hybrid blockchain LTO Network, has a theory as to why the shipping project floundered initially. “The real potential and the value of blockchain integration comes from creating a global level playing field,” he told “A consortium is not the optimum way to go as it merely recreates an already existing permissioned system.” Schmitz remains a staunch advocate of enterprise-ready blockchains, but maintains that the optimal approach is a solution that enables businesses to control their own sidechain and broadcast transactions to a main chain that is not controlled by any single entity – particularly when that entity is a close competitor.

More Mainstream Companies Enter the Fray
Following scores of trials, most of which have ultimately resulted in little traction, businesses are beginning to commit to blockchain in greater numbers, and for wider ranging projects. Having transitioned from the realm of the exotic to the ordinary, blockchain can now be used by businesses without raising too many eyebrows. This week, it was revealed that Mastercard is constructing a blockchain-based payment solution with the aid of R3. Designed to facilitate cross-border payments, it follows a multi-blockchain patent filed by the payment processing giant in 2018.
As with many of these announcements, details of what the initiative will entail, or why a blockchain is needed, remain sketchy. In fact, in a carefully crafted soundbite accompanying the release, Peter Klein, executive vice president of New Payment Platforms for Mastercard, managed to avoid mentioning the word “blockchain” altogether, speaking instead about “Developing a new and better cross-border B2B payments solution by improving worldwide connectivity in the account-to-account space,” whatever that means.
There may be a justifiable use case for blockchain in this, and in so many other initiatives utilizing distributed ledger technology, but it can be hard for onlookers to ascertain why. The opacity of enterprises experimenting with the tech, coupled with a tendency to deal in business speak and platitudes, means the public are left none the wiser as to how or why blockchain is being deployed.

Trust Us, We’re Competitors
In tracking the uptake of enterprise blockchain to date, there are lessons to be learned from the failures as well as the successes. In IBM and Maersk’s logistics supply chain, there’s a bit of both. At first, third parties were slow to join the endeavor, with the first clue as to why lying in the fact that IBM and Maersk retain all rights to intellectual property on the blockchain. The job for the duo has since been to assuage the fears of potential partners. Persistent assurances from IBM regarding data privacy, governance and the publication of APIs seem to have had a positive effect on adoption of the blockchain, as does its rebranding from “joint venture” to “joint collaboration.”
The move is a smart one, as it is not unreasonable to argue that private blockchains are a misapplication of the technology on which they are built. On the surface, blockchain appears to offer a solution for supply chain companies in which all parties are equal. Shippers, manufacturers and suppliers all have differing and sometimes conflicting interests at stake, and as such, the only way to ensure equal access is to create a level playing field for every stakeholder. Instead of creating a trustless blockchain in which all network partners were equal, IBM and Maersk’s blockchain placed Maersk at the head of the table.

For smaller competitors, that pitch has dubious benefits and a high risk profile; an invitation from Maersk to place all your eggs in their cargo hold and observe as they steer the ship to whatever port they deem best. In the case of Trade Lens, IBM complicated matters by insisting that partners adopt proprietary IBM systems and products in order to onboard. That meant that for any company not already using IBM, the costs of integration were substantial. Permissioned blockchains have a habit of developing an unholy trinity of undesirable qualities in the form of poor trust and transparency issues, high costs, and limited functionality. IBM and Maersk have since recovered from these setbacks, and now have over 15 carriers and 90 companies using their blockchain, with the latest participant the Customs Department of Thailand.
The Inexorable March of Enterprise Blockchain
To date, most of the enterprise blockchain projects of note have been based upon IBM’s Hyperledger or R3’s Corda. Next week, there’ll be a new blockchain network in town for businesses to play about on. Hedera Hashgraph is about to launch, promising to serve as an enterprise-ready, highly scalable alternative to existing chains. With major corporations like Boeing, Deutsche Telekom, and IBM involved, it’s got the credentials to attract businesses eager to experiment with the latest tech. Despite questions over its claimed throughput, and its ability to deliver state proofs of transactions, Hedera looks set to claim a large slice of the enterprise pie.

If there are lessons to be learned from the performance of enterprise chains to date, it is that blockchain is only useful when you play to the strengths of the technology and work within the ethos of what made it so compelling in Bitcoin to begin with. After all, centralized blockchains are nothing more than databases controlled and run for the benefit of their owners.
What are your thoughts on the success of enterprise blockchain projects to date? Let us know in the comments section below.
Images courtesy of Shutterstock.
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California City Official Uses Bitcoin Cash to Purchase Cannabis

In California, cryptocurrency payments are making headway in the cannabis industry as Berkeley City Councilmember Ben Bartlett became the first elected official to purchase cannabis using a digital asset. On Tuesday, Bartlett utilized bitcoin cash (BCH) and Cred’s LBA token to facilitate the transaction at the Ohana Cannabis dispensary in Emeryville.
Also Read: Bitmain Launches Next Gen Miner as Bitcoin Hashrate Touches 100 Exahash
BCH and the Universal Dollar Stablecoin Used by an Elected Official to Purchase Cannabis in California
Cryptocurrency enthusiasts have long dreamed of the cannabis industry and the cryptocurrency economy joining forces. On Sep. 10, the two industries made significant strides toward this effort when Berkeley City Councilmember Ben Bartlett purchased cannabis at a dispensary with crypto assets. The purchase at the Ohana Cannabis dispensary in Emeryville was part of a demonstration that showed the benefits of stablecoins and blockchain settlement.
Berkeley City Councilmember Ben Bartlett.
The Ohana dispensary accepts bitcoin cash (BCH) and then takes advantage of the crypto financial platform Cred’s LBA token to finalize the settlement in the Universal Dollar. When Councilmember Ben Bartlett made the purchase, the Blockchain Advocacy Coalition and the Cred team was there on site to show the group of elected officials how digital currency solutions work. The cofounder of Cred, Dan Schatt, explained during the demo that digital currencies add far more benefits than traditional payment services.
“We are thrilled to build technology that solves real problems for customers, merchants, and politicians which will help usher in the next 100 million users of crypto,” Schatt noted during the event. The Cred cofounder added:
Not only does crypto result in significant cost reduction for consumers and merchants, but it also enables highly productive tax collection, transparency, and predictability for city and state governments.
Bitcoin cash, Cred’s LBA token, and the Universal Dollar were used during the cannabis purchase demo with Berkeley City Councilmember Ben Bartlett.
The Blockchain Advocacy Coalition and California’s AB 953
The Universal Dollar stablecoin is an Ethereum-based token backed by USD and was created by the Universal Protocol Alliance. The group is made up of blockchain organizations including Blockchain at Berkeley, Uphold, and Cred. With members of Cred and the Blockchain Advocacy Coalition (BAC) helping, Councilmember Bartlett’s purchase “took seconds and resulted in substantially lower transaction fees for the dispensary.” Right now the BAC is sponsoring the assembly bill AB 953 which would allow the state to accept cannabis tax through a stablecoin. “AB 953 will allow cannabis companies to pay their taxes via virtual currency, specifically stablecoins,” the BAC website details. “This solves a significant banking issue for the state and lays the groundwork for broader statewide adoption of virtual currency.” At the time of writing, more than 70% of California’s state-endorsed cannabis industry is unbanked and these businesses are having issues dealing with financial institutions. Cannabis businesses incur significant risk by handling large cash deposits.
California has always been ahead of the game when it comes to the cannabis industry.
Many other cannabis-friendly states like Colorado and Oregon are having the same financial issues. California aims to innovate by creating progressive laws that help ease the problems cannabis operations are dealing with. “By providing a cash-free method of cannabis tax payments, AB 953 can reduce costs and safety risks for cities and businesses,” said Bartlett. The Berkeley City Councilmember also stated:
The Green Rush is a 21st-century industry; it deserves a 21st-century payment system. Tax payments in digital currency will help bring this new industry into the light.
California has been at the forefront of digital innovation, with epicenters like Silicon Valley and pioneering legalized cannabis for medical use in 1996, before opening the state to recreational use 20 years later. After the demonstration using BCH and Ohana Cannabis settling the transaction in the Universal Dollar, Councilmember Bartlett told attendees at the Emeryville dispensary that he also plans to have his staff draft a report on the benefits of accepting cannabis using digital asset solutions.
What do you think about the first elected official purchasing cannabis using bitcoin cash and settling in a stablecoin to pay government taxes? Let us know what you think about this subject in the comments section below.
Image credits: Shutterstock, Cred,, Berkeley City, Universal Dollar logo, and Pixabay.
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Market Outlook: Uncertainty Builds With Thin Trade Volumes and Bitcoin Futures Launch

Digital currency markets have dropped in value over the last three weeks, losing $25 billion since mid-August. Market prices have been creeping downward on thin global trade volume and the last two months of volatility seem to be taking a toll on short-term bullish optimism.
Also Read: Bitmain Launches Next Gen Miner as Bitcoin Hashrate Touches 100 Exahash
Cryptoconomy Loses $25 Billion in Three Weeks
Cryptocurrency market confidence seems to be dwindling as many digital assets have struggled to surpass higher price ranges over the last few weeks. Three weeks ago, market prices were much higher and the market cap was roughly $282 billion for all the crypto markets combined. On Sep. 11, the global valuation for all 2,000+ cryptocurrencies is now $261 billion, indicating a loss of over 7%. Wednesday’s trading sessions show bitcoin core (BTC) is hovering just above the $10K zone between $10,025 to $10,225 over the last 24 hours.
Top 10 cryptocurrency market prices on Sep. 11, 2019. Did you know just launched a secure, professional-grade trading platform called Check it out today.
BTC is seeing $15.7 billion in global trades and has a market valuation of roughly $180 billion or 69% of the entire crypto market cap. Ethereum is following behind BTC and hovering around $177 per coin. ETH markets are down 1.5% today and are down 0.06% over the last seven days. XRP markets lost 2.3% today and 2.2% for the week as each XRP is swapping for $0.25. Lastly, the fifth largest market valuation still belongs to litecoin (LTC) as each coin is swapping for $69. LTC markets are down 1.87% today but have gained 2.6% over the last seven days.
Bitcoin Cash (BCH) Market Action
The fourth largest market capitalization is held by bitcoin cash (BCH) at the moment. BCH is coasting along between $290 and $305 over the last 24 hours. There’s roughly $1.27 billion in global BCH trade volume and bitcoin cash has a market cap of over $5.3 billion at the time of writing. BCH has lost 2.8% in the last 24 hours, but over the last week BCH market prices are only down by 0.44%.
BCH/USD price on Sep. 11, 2019.
Bithumb is trading the most BCH this Wednesday with $544 million in global trades. There’s also Coinbene, Coinex, P2pb2b, and Bibox as well following behind the South Korean exchange in BCH trade volume. Tether (USDT) is the top trading pair with BCH today capturing 59.7% of all BCH trades worldwide. This is followed by trading pairs like BTC (18.7%), USD (9.5%), ETH (9.2%), KRW (1.6%), and the EUR (0.56%). Over the last seven days, BCH transactions per day (TPD) have been averaging roughly 45,000 to 55,000.
Macroeconomic Storms Fail to Push Crypto Markets Higher
Over the last two months, many cryptocurrency supporters believe that macroeconomic turmoil pushed the price of BTC and other cryptocurrencies upwards. However, on Tuesday, BTC/USD prices dropped to $9,930 quickly before jumping back up over the $10k range. Most digital assets have at least two significant resistance levels before gaining the same headway they had weeks ago. The chief investment officer of asset manager Arca, Jeff Dorman, explained on Sep. 3 that the macroeconomic turmoil which was attributed to the spike last month has seen negative correlations in recent days.
Many speculators believe macroeconomic storms will push cryptocurrency and precious metals markets much higher.
“August began with a 20% rally in Bitcoin led once again by the same macro factors that have supported it for most of this year – endless rate cuts from global central banks, declining currencies including the critically important Chinese yuan, a series of Trump tweets about tariffs and reckless monetary policy, a nasty decline in equities, and, of course, the potentially significant impact of a no-deal Brexit,” Dorman remarked. The “end of an ugly and peculiar month” retrospective continued:
Unfortunately, the perfect macro storm was erased throughout the rest of the month as these negative correlations broke down and Bitcoin and other digital assets ended the month in the red.

The Federal Reserve should get our interest rates down to ZERO, or less, and we should then start to refinance our debt. INTEREST COST COULD BE BROUGHT WAY DOWN, while at the same time substantially lengthening the term. We have the great currency, power, and balance sheet…..
— Donald J. Trump (@realDonaldTrump) September 11, 2019

Price Perspectives From Crypto Twitter
Crypto Twitter (CT) has seen an awful lot of opinions and technical analysis takes on the price of BTC and other digital assets. This week, Twitter user Planb who often comments on crypto analysis believes the price of BTC is being fueled by stock to flow trends. “Proof is in: bitcoin price is mainly driven by stock to flow, not by any other factor — Cointegration, not correlation, is key: BTC price has been and likely will be below and above S2F model value every year,” Planb stated on Sep. 7. The next day Mr. Jozza commented on BTC/USD on-balance volume (OBV) and his outlook seemed dreary. “That is not a happy OBV — A market creeping up on thin volume doesn’t fill me with confidence,” he tweeted. The crypto trader at Texas West Capital known as the Wolf of All Streets remarked on Twitter that even during the price drops he’s always bullish in regards to the long term.
“When someone asks me if I am bullish or bearish on bitcoin, the answer is always bullish,” the Wolf of All Streets stated on Sep. 11. “I believe that this market will continue to trend up over a long time frame, even if the price drops significantly in the short term — I will buy those dips.”
Investors Move Away From Safe Haven Assets as Gold Sees Worst Daily Decline in Two Years
After spiking in parallel with cryptocurrencies last month, the price of gold saw the worst daily decline in years on Sep. 5 and has dropped for a fourth straight session on Sep. 10. During the first drop in value last week since the initial rise, frontier markets investor Mark Mobius told CNBC that digital currencies and gold need to come together. Mobius explained that digital assets could trigger gold prices and bolster the demand for the precious metal. However, analysts are seeing investors leave safe haven assets and investing in riskier growth markets instead. “Globally we are seeing a shift back towards growth assets and that’s coming at the cost of the safe havens,” remarked Michael McCarthy, chief market strategist at CMC Markets on Tuesday. Since touching a high of $1,557 on Sep. 4, gold spiked to its highest price range in six years, but bullion spot prices tumbled by more than 5% to $1,493 today.
Gold spot prices on Sep. 11, 2019.
BTC/USD Shorts Rise While ICE Preps for Bakkt’s Upcoming Bitcoin Futures
Overall, crypto market observers are uncertain of where prices will be in the short term. BTC/USD short contracts are not nearly as high as they were months ago but they are starting to rise steadily. As far as ETH/USD shorts are concerned, markets have been meandering along with no significant increases or decreases in short contract volume.
BTC/USD shorts on Sep. 11, 2019.
The long-awaited futures products from Bakkt continue to make headway as the exchange has started letting customers initiate deposits. However, the ICE futures notice explains clients are required to deposit $3,900 to participate in monthly and daily futures contracts on Monday, Sep. 23. Speculative requirements rather than initial hedge rates mandate depositing $4,290 to participate in Bakkt’s bitcoin futures markets. Some speculators think that the physically-delivered futures markets may create price discovery.
“Seven business days until the Intercontinental Exchange (ICE) is offering physically settled Bitcoin futures through its Bakkt unit. It will act as exchange, clearinghouse and settlement authority. ICE BTC futures will create price discovery apart from any cash market influence,” Planb tweeted on Wednesday. “CME is cash-settled, therefore dependent on (an average of) exchange rates, thus sensitive to manipulation & fraud. Institutions don’t like that. ICE/Bakkt has its own price based on real bitcoin,” he added.
Where do you see the cryptocurrency markets heading from here? Let us know what you think about this subject in the comments section below.
Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.” Cryptocurrency and gold prices referenced in this article were recorded at 12 p.m. EST on Wednesday, Sep. 11, 2019.
Images via Shutterstock, Trading View, Markets, Getty,, Wiki Commons, and Pixabay.
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Connecting Cash to the Internet Using Stablecoins

Most often overlooked in the fintech space is the world’s most scalable and private payment system: cash. It is used in every country around the world and despite its much exaggerated demise, according to the G4S Global Cash Report 2018, cash circulation has risen to 9.6% of GDP across developed and emerging market countries since 2000, up from 7%. Cash is still king for now, despite concerted attempts to usurp it.
Also read: David Chaum’s Elixxir Invites Smartphone Users to Test Private Messaging
The War on Cash Is in Full Swing
Cash settlements are direct and final, with particular usage for smaller value transactions accounting for 60-80%, as per the same GS4 report. Overall it is an essential pillar of civilization as cash is the primary mechanism by which the world conducts payments and trade. Were cash to disappear suddenly, the economy of various countries would be severely affected.

Having recently attended the ESTA forum 2019 in Vienna, an annual event for Europe’s cash management industry, I was able to get a grasp on the situation:

The War on Cash is in full swing and many cash management providers don’t know how to react to this development. A recent IMF blog post comes to mind that explains how cash can be removed from the economy by charging a 4% fee to convert between cash and bank money.

Central banks want their interest rates to go negative and in some countries in Europe they are already negative. Cash is an effective escape from this and therefore central banks want to eliminate cash.

Nobody seems interested in defending cash from the larger powers that be in commercial banks and central banks, both of whom would prefer everything to be digital so that they can exert more control.

In Emerging Markets, Digital Services Need Cash
While negative interest rates and cashless economies are a talking subject in many developed countries, it’s a pipe dream for most of the world’s population. Only about 30 of the world’s 180 currencies are internationally floated and of them only about a third are effectively used for cross border trade.

For the many billions of people in the world, cash will continue to play a key role for the foreseeable future as will positive interest rates and higher inflation.
In fact, the adoption of digital services and products in emerging markets relies on the ability to move between cash and digital money. Many people may tout the effectiveness of mobile money in Africa and how that can be a path forward for the developing world, but in order to get a mobile money balance you need to visit an agent who will top it up. Therefore, every unit of currency in the mobile money system is backed by an equivalent amount of cash.
The reality on the ground is that mobile money is not replacing cash, but instead cash is a necessity for mobile money services to take off in the first place.
Stablecoins Provide the Bridge Between Cash and Digital
Cryptocurrency has an important part to play in connecting cash-based markets to the digital economy. In particular, stablecoins are perfectly suited for this as a type of cryptocurrency where the value is pegged to the value of another more stable asset, like a national currency.
The mechanism for maintaining the peg can be classified in two ways: trusted and trustless. When a stablecoin is trusted, it means a central authority is in charge of the reserves and maintaining the peg (think: True USD, USD Tether, Gemini Dollar). Trustless stablecoins on the other hand are managed by smart contracts which control the reserves and maintain the peg (think: Makerdao, Bitusd, Stable.php).

While most stablecoins are trusted and pegged to the US Dollar, we are increasingly seeing new projects branching out to include stablecoins for exotic currencies such as Indonesian rupiah, Philippine peso, Brazilian real, Vietnamese dong, South African rand and potentially many more.
This is where trustless stablecoins especially get to shine, as the creation of, say, a trustless Philippine peso stablecoin only requires crypto infrastructure – circumventing the traditional banking system – which makes it a lot easier for companies to enter that market.
Why Stablecoins Matter
Stablecoins are important for digital services to take off in emerging markets because they simplify the process of converting cash to digital money, without having to factor in the volatility of an asset like bitcoin. As a form of digital cash, stablecoins can then be integrated with any of the digital services provided by companies in that market.
Okra Solar serves as a great example of how stablecoins can be used to connect cash-based markets to a digital service: in the Philippines, residents can get their power from the solar grid provided by Okra and pay for their bills with stable.php, a stablecoin they can buy locally with cash. As an extra benefit, while this stablecoin was initially acquired to pay for solar electricity, those same people effectively now also have a way to access the wider world of cryptocurrencies using cash – especially relevant in markets with weaker currencies.
As more digital services are aiming for customers in emerging markets, stablecoins will become increasingly important as the connecting thread between cash and the digital economy. All it takes is a cash in, cash out network designed to make crypto accessible to everyone.

George Harrap is the CEO & Co-Founder of Bitspark. Having started in early 2011, George is an early adopter of Bitcoin and blockchain technology. In 2014, he co-founded Bitspark with the intention of bringing greater financial access to everyone. Through a network of cash points, mobile app and DEX, Bitspark uses cryptocurrencies to form the bridge between the old and new worlds of finance.
Op-ed disclaimer: This is an Op-ed article. The opinions expressed in this article are the author’s own. is not responsible for or liable for any content, accuracy or quality within the Op-ed article. Readers should do their own due diligence before taking any actions related to the content. is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any information in this Op-ed article.
Images courtesy of Shutterstock.
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Bron : Bitcoin en toekomst van crypto

David Chaum’s Elixxir Invites Smartphone Users to Test Private Messaging

In an age where Google, Facebook and the NSA are known to be harvesting as much as our communications as they can, many people are concerned that online privacy now only exists in the history books. One project trying to address this is the metadata-shredding platform Elixxir, led by cypherpunk innovator David Chaum, which now lets smartphone users test the network’s private messaging capabilities.
Also Read: Total Surveillance Coin Will Be a Dystopia if Controlled by Facebook or Government
Metadata-Shredding Platform Launches Public Alpha
Elixxir, the latest creation of the man known as the “father of online anonymity,” David Chaum, has announced the launch of the Xx network public alpha. Maintained by a team of nodes run by independent operators, the Xx network alpha represents the first public demonstration of Cmix, the transaction network that shreds metadata and provides unprecedented consumer privacy and security.
“We’ve worked very hard over many years to design and develop the Elixxir privacy protecting platform and now users can access the platform for private communication. It’s one thing to talk about and describe such a platform, it’s quite another to make it available for use on a smartphone. I’m very proud of our team for getting this done,” said David Chaum.

In the weeks ahead, users will have a chance to test the Xx network public alpha for themselves. Currently, select partners are testing the public alpha. The developers say that the public alpha will immediately be capable of processing 500 transactions per second, and they expect it to scale within weeks to 2,500-5,000 transactions per second.
The Xx network public alpha nodes are run by a cross-section of selected node operators around the world. Operators include, Chainzilla, Everstake, Incrypt, Iqlusion, and Simply VC. Hand-picked by Elixxir, these node operators will contribute their expertise and feedback to inform the Xx network decentralized beta later this year.
“It’s great to see Elixxir is available publicly for high volume testing. I’m a supporter. Some things about my life are confidential, that’s why I’m looking forward to using their privacy protecting platform,” commented Roger Ver, Executive Chairman of
How Elixxir Protects Users’ Metadata
Communication metadata is the information on the times, origins and destinations of phone calls, emails and instant messages, as opposed to their actual content. It can be used against people by advertisers, scammers, identity thieves, and even hostile governments.
The former National Security Agency (NSA) and Central Intelligence Agency (CIA) Director, Michael Hayden, famously said in 2014 that “We kill people based on metadata.” He explained that “metadata alone can provide an extremely detailed picture of a person’s most intimate associations and interests, and it’s actually much easier as a technological matter to search huge amounts of metadata than to listen to millions of phone calls.”
According to the Cmix whitepaper, Elixxir is working to provide protection against the harvesting and exploitation of metadata by fulfilling two core values fundamental to achieving true security and privacy. The first value is anonymity, protecting the identity of participants in activities; for example, a message sender and recipient. This means that an adversary cannot map any input to the corresponding output with any higher probability than random guessing, even if the adversary has compromised most of the system. The second value is integrity – verifying the trustworthiness of the transaction system. This means, for example, that at any given point, either the system delivers all messages without alteration, or, in the event of a failure, any malicious mixnode is identified with high probability.

To achieve both anonymity and integrity, the system brings together two key concepts: mixnets and precomputation. Mixnets, also known as mixing networks, were first described by David Chaum in 1981. A mixnet lays down cryptographic rules for messages or transaction activity from a set of users to be relayed by a sequence of trusted intermediaries known as mixnodes. These are computer servers that receive a batch of encrypted messages, randomly permute or “mix” them, and then send them forward. Mixnets typically protect the contents of messages with public key encryption. The mixing process provides anonymity, while the public key encryption provides integrity.
The main drawback to traditional mixnets is that they are slow; the public key encryption process takes computers a long time to perform, making mixnets too slow for most consumer uses. The Cmix system is designed to solve this problem by using precomputation. Precomputation allows mixnodes to do all the time-consuming work of public key cryptography before the real-time phase of handling messages between senders and recipients. The result, according to the developers, is a very efficient kind of mixnet that allows users to send and receive messages in real-time without compromising on security and privacy.
Mixnodes perform the work of decrypting messages and mixing traffic to hide the associations between senders and recipients. The work of mixnets is performed in three phases: setup, precomputation, and real-time. In the setup phase, mixnodes establish secret and shared public keys, which can be used as a seed to derive unique values for every session. The precomputation phase is performed once for each real-time phase. The mixnodes establish shared values to circumvent the need for public key operations during the real-time phase, with each mixnode in an n-member team doing 1/n of the decryption work. In the real-time phase, mixnodes receive messages, perform the decryption work prepared for with precomputation, and pass the message on to the next mixnode.
Cypherpunk Creator of Digital Cash
David Lee Chaum is known as a pioneer in cryptography and privacy-preserving technologies, and widely recognized as the inventor of digital cash. In 1995 his company Digicash, an electronic money corporation, created the first digital currency with ecash. The renowned cypherpunk once lamented that internet technologies would create a dossier society where government would catalog information on each individual and track every person and keep tabs on their comings and goings.

What do you think about Elixxir and the launch of the Xx network public alpha? Share your thoughts in the comments section below.
Images courtesy of Shutterstock.
Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Markets, another original and free service from
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Bron : Bitcoin en toekomst van crypto

Bitmain Launches Next Gen Miner as Bitcoin Hashrate Touches 100 Exahash

Last Thursday the China-based mining rig manufacturer Bitmain announced the launch of two new Antminers that offer hashrates between 53 to 64 terahash per second (TH/s). When the Antminer sale started on Monday, first batch devices sold extremely fast and Bitmain expects to deliver units by mid-November. Meanwhile, the combined SHA256 hashrate (BCH and BTC) has grown exponentially, touching 100 exahash per second (EH/s) on Tuesday.
Also Read: Plans to Build $50M Bitcoin Cash Tech Park Revealed
Bitmain Launches Two New Next-Generation Miners With Hashrates of 53-64TH/s
Mining coins like BCH and BTC is extremely competitive and recently mining rig manufacturers have been launching next-generation devices making the competition even greater. Last week, on Sep. 5, Bitmain Technologies announced the launch of its newest set of Antminers after releasing multiple versions of SHA256 mining rigs over the last few months. The latest versions include the Antminer S17e and the T17e which will be sold in three batches. According to Bitmain’s specifications, both machines have been optimized to perform with “significant improvements to power efficiency and hashrate.” The S17e has an average hashrate of 64TH/s and 45 joules per terahash (J/TH). The Antminer T17e offers hashrate speeds of up to 53TH/s and power efficiency of roughly 55J/TH. So far both batches of the new Antminers have sold out and the last sale will end Wednesday morning on Sep. 11.

In addition to the new Antminers, Bitmain introduced a compensation strategy for delivery delay. So if mining rigs are not shipped on the specified delivery dates then Bitmain will compensate customers with coupons for each day of delay, based on PPS rewards of the mining pool and electricity cost deducted. Bitmain explained that both new models have been created for better efficiency and longevity as well. “Both new models have been designed for more stable operations in the long-term to reduce maintenance costs for customers,” Bitmain detailed last week. “This is made possible through the dual tube heat dissipation technology which improves how efficiently heat dissipates. The models are also equipped with a more secure software system to prevent malicious attacks.”

Bitmain will also be hosting the second annual World Digital Mining Summit (WDMS) in Frankfurt Germany on Oct. 8-10 2019. The two-day event will bring together some of the biggest entrepreneurs in the mining industry like Genesis Mining Marco Streng and Bitmain’s cofounder Jihan Wu. One specific event at the WDMS conference announced this week will be a contest for the “top ten mining farms around the world.” This will allow the mining industry to vote on the best mining farms out there today. In order to participate, miners need to disclose their location, capacity, mining farm systems, hosting price, length of operations, and submit photos of their crypto mines. Participants must submit all required materials by email before September 13 and winners will receive VIP tickets to WDMS.
High-Powered Mining Rigs Push the SHA256 Hashrate Above 100EH/s
With 64TH/s and 45J/TH, the new Antminer S17e would be the most profitable mining rig today, according to At the time of writing, calculating current prices and with an electricity cost of $0.13 per kWh, the S17e would profit by $8.86 per day mining BTC (if it was available to the public today). Profits per day might be entirely different depending on the price per coin on Nov. 2019 and network difficulty. The new Antminer models will compete with the Microbt Whatsminer M20S (68TH/s), Ebang Ebit E11++ (44TH/s), and the Strongu STU-U8 pro (60TH/s).
Top 12 mining rigs on Sep. 10, 2019.
The rest of the competitive mining rigs in the top list are other Bitmain models too such as the S17 pro (53TH/s), and the S17 (56TH/s). In 2019 Bitmain has released a wide assortment of SHA256 compatible miners including the new legacy S9 series, and the T version models. There’s still a bunch of low hashrate miners available on the Bitmain website, but most higher performance machines are selling out quickly. Still, with an electricity cost of $0.13 per kWh, any mining rig on the market that performs at more than 13TH/s is profiting at today’s BTC and BCH prices. On Sep. 10, it is currently 4% more profitable to mine on the Bitcoin Cash blockchain according to prices and Coin Dance statistics.
On Sep. 10, 2019, at 12 p.m. EDT, it was 4% more profitable to mine the BCH chain. Do you want to maximize your Bitcoin Mining potential? Plug your own hardware into the world’s most profitable Bitcoin mining pool or get started without having to own hardware through one of our competitive Bitcoin cloud mining contracts.
Both chains’ SHA256 hashrate combined on Sep. 10 crossed the 100 exahash per second (EH/s) region as BTC captured 98.53EH/s and BCH gathered 2.4EH/s. If and when SHA256 networks can exceed 500 exahash per second, the processing power will penetrate the zetahash era. BTC’s hashrate is 8X more powerful than Dec. 2017 at the height of the bull run, and this past June the BTC hashrate was 55EH/s which nearly doubled in three months. The BCH network hashrate has hovered between 2-2.6EH/s over the last three months with 11 pools processing BCH blocks. There are 10 pools mining BTC with 18.1% of the hashrate being stealth mined by unknown miners. On Sep. 10, 22% of the BCH network hashrate consists of unknown mining pools as well.
On Sep. 10, 2019, both SHA256 networks (BTC & BCH) combined crossed 100EH/s.
With market prices at what they are today, both BCH and BTC miners are seeing significant profits compared to last year’s prices. At current speeds, both SHA256 networks’ reward halvings will be at different times. The BTC chain is expected to see its reward halving in 248 days on May 16, 2020, while the BCH chain is expected to cut its block reward on April 8, 2020. Both dates are not exact and the time could change if hashrates increase or decline from here. The onslaught of new machines produced by manufacturers like Bitmain, Strongu, Innosilicon, and Microbt should continue to increase the overall SHA256 hashrates on both networks.
What do you think about the latest Bitmain miners and the exponential SHA256 hashrate? Let us know what you think about this subject in the comments section below.
Disclaimer: Readers should do their own due diligence before taking any actions related to the mentioned manufacturers and products associated with this article. or the author is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services, products, websites, and vendors mentioned in this article. This editorial review is for informational purposes only.
Image credits: Shutterstock, Bitmain,,, Coin Dance, Wiki Commons, and Pixabay.
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Bron : Bitcoin en toekomst van crypto

Plans to Build $50M Bitcoin Cash Tech Park Revealed

At the Bitcoin Cash City conference in North Queensland, the CEO of Code Valley, Noel Lovisa, announced plans to build a $50 million dollar Bitcoin Cash tech park in the city of Townsville. The plan is to aggregate startup companies and there are more than 12 Bitcoin Cash focused startups already on board. Additionally, the BCH tech park creators aim to create a sister project with a mining and server facility built near the Kennedy Energy Park.
Also Read: Emergent Coding, Adoption Incentives and Practical Use – Bitcoin Cash City, Day 2
Code Valley CEO Announces Bitcoin Cash Tech Park
Over the last two years, many BCH proponents have heard about the city of Townsville on the coast of North Queensland, Australia. The city is well known for its dense population of BCH supporters and the 78 bitcoin cash accepting merchants. On Sep. 4-5, Townsville hosted the first annual Bitcoin Cash City conference, a BCH-centric event in a city full of supporters, developers, and BCH retailers. During the two-day event, participants heard from Code Valley team members like senior software engineer Mark Fabbro and CEO Noel Lovisa. The two discussed a subject called Emergent Coding which is essentially a software supply-chain or global compiler network that will work in concert with the BCH chain. “If the utility of BCH is going to be an international currency then at some point we’ve got to get the global economy using bitcoin cash,” the Code Valley CEO insisted during his talk at the event. Lovisa also told conference attendees that emergent coding will bring “a serious amount of economic activity onto the Bitcoin Cash blockchain.”
Code Valley CEO, Noel Lovisa, speaking to Bitcoin Cash City conference attendees in Townsville. He told the crowd that day that the Code Valley team had won a tender and they have plans to build a $50M Bitcoin Cash tech park in Townsville, North Queensland.
Lovisa further said that with emergent coding, the company didn’t want to stop there and aimed to leverage the benefits of Bitcoin Cash City as much as they could. So the company formulated a plan to create a Bitcoin Cash tech park based on Emergent Coding technology in Townsville. In Lovisa’s eyes, Townsville has an edge on adoption already and the city is “a year or more ahead” than most urban areas. The Code Valley executive told the event participants that a tender came up from the city for the redevelopment of the North Rail Yard and they won the tender. This means the project will partner with the city to develop the tech park Lovisa revealed. After the Bitcoin Cash City conference, spoke with Lovisa to get more information about the BCH tech park in Townsville.
The slide images of the model Bitcoin Cash Tech Park.
A Technology Park Fueled by Bitcoin Cash Innovation (BC): How did the Bitcoin Cash City Conference turn out?
Code Valley CEO, Noel Lovisa (NL): When all the delegates are eager to return next year for the 2020 Bitcoin Cash City Conference, I think you can say it was successful. A combination of a location in sunny North Queensland, extraordinary Bitcoin BCH adoption and differentiation such as a helicopter scenic built into the premium ticket, together with a great organizing effort managed to attract all the big names for speakers and sponsorship. It was really fun for a conference to walk the talk too with tickets in BCH, flights in BCH, accommodation in BCH, food, taxis, etc. We are planning a much larger event next year built upon this successful model.

BC: Can you tell our readers what initiated the planning for a $50M Bitcoin Cash Tech Park to be built in North Queensland?
NL: A North Queensland innovation called Emergent Coding is the fuse that lit the BCH tech park tender proposal. Emergent Coding is a distributed software development technology which trades the ability to specify completely bespoke software for extraordinary advances in software design speed, cost, native performance, and resource usage. Emergent Coding solves software’s “double-spend” problem to permit the first feasible developer specialization. It aims to combine the world’s 30 million developers into a single cohesive unit that designs software. Since these 30 million developers are spread around the world, Bitcoin Cash is ideal for rewarding these developers for their design contributions.
The architect who designed the Bitcoin Cash Tech Park attended the conference as well.
With such a large innovation and recognising the many startups moving into the Emergent Coding space, it was decided that a Bitcoin Cash tech park would be the ideal vehicle to anchor much of the development benefit for North Queensland. When the City’s North Rail Yard redevelopment tender came up, and given the Rail Yards are the traditional tech center of the city circa 100 years ago, making it the modern tech center of the city while preserving these heritage-listed buildings of the original yards seems like an unbelievable opportunity. While we have won the tender, there is still much to do before we can make the Bitcoin Cash Park a reality.
Clearly, North Queensland is investing big in the future of Bitcoin Cash and as seen by the conference, North Queensland gets stuff done.
BC: When is the BCH tech park project starting?
NL: It has been a very exciting year with our tender application initially being shortlisted, then winning the right to partner with the city on the project. Presently we are racing to reach a heads-of-agreement before Christmas as the local government goes into caretaker mode ahead of the election next year. While the site is complicated by the heritage aspects, we have put an experienced team together and expect to begin construction mid next year.
Proposed Bitcoin Cash Tech Park plans. Are you a Bitcoin developer? Did you know you can create your own Bitcoin Cash app with the Bitbox and Badger Wallet SDKs, get started with BCH tokens through the SLP SDK, and build your knowledge base with our Bitcoin Cash developer guides.
BC: During your talk at the Bitcoin Cash City conference, you mentioned 12 Bitcoin Cash focused tech startups in the area are involved with this project. Which BCH startups are included in this list?
NL: Leading the startup list is Code Valley Corp P/L and Aptissio Australia P/L, with the latter securing about $1 million in its first seed round and already delivering their first Bitcoin Cash products into the market. Aptissio’s focus is about applying Emergent Coding to BCH software development and they already have more than 700 Emergent Coding Agents online in addition to Code Valley’s 1,400 Agents. Aptissio hopes to field a BCH full node in the near future which may well be the most exciting Bitcoin Cash development since the fork.
It promises to amplify BCH developer productivity, provide a new developer funding model which excludes the possibility of capture, eliminates duplication of effort intrinsic in incumbent development, and much more.
Proposed Bitcoin Cash tech park plans.
But coming back to your question, Aptissio may be the leader and furthest along with the application of Emergent Coding, however there’s Echt Fin P/L, Lexcode legal P/L, Bitcoin BCH P/L, Townsville Mining P/L, Appening P/L, Cyclone AI P/L, SatoshiwareNQ P/L, Townsville Technology Precincts P/L and several beginning to appear in SOCAL such as Straya LLC, Coactive Blockchain LLC. These startups are in various stages of funding and active development and all in the Emergent Coding Bitcoin Cash space.
BC: Can you tell our readers about the mining and server facility to be built near Kennedy Energy Park?
NL: The sister project to the BCH tech park is the server complex. Emergent Coding has a vast need for server capacity to support its design agents and is dependent on Bitcoin Cash, so we want to support the Bitcoin Cash network with some domestic mining. North Queensland has an incredible site that promises to be highly competitive in terms of renewable energy, cooling, data, and low-cost real estate. We have completed a comprehensive technical due diligence on the site and are in negotiations over its development. I can not say more about this project at this time but watch this space.
Check out the full version of Noel Lovisa’s Bitcoin Cash City tech park announcement in the video below.

What do you think about the BCH tech park planned for Townsville? Do you think this will help bolster BCH adoption and industrialization? Let us know what you think about this project in the comments section below.
Image credits: Shutterstock, Bitcoin Cash City Conference, Code Valley, Noel Lovisa, and Pixabay. Bitcoin Cash Tech Park photos are not final depictions and the park design is subject to change.
Are you a developer looking to build on Bitcoin Cash? Head over to our Bitcoin Developer page where you can get Bitcoin Cash developer guides and start using the Bitbox, SLP, and Badger Wallet SDKs.
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Bron : Bitcoin en toekomst van crypto

Government Hates Crypto Because It Empowers the People, Not Because It’s Used for Crime

A recent article from MIT Technology Review has leveraged a somewhat sensationalist headline to stir up fear about bitcoin and crypto. The article, written about a “hidden” government weapon to be deployed against Bitcoin, references September 3 senate subcommittee testimony by Washington D.C. consulting firm Financial Integrity Network. In the testimony, Vice President of the firm David Murray calls for the Bank Secrecy Act to be expanded to include regulating bitcoin miners as traditional financial institutions. With the U.S. dollar already backing most crime worldwide, one is left to wonder why so much focus is directed at crypto, and so little at the largest perpetrators of violence on earth — governments.
Also Read: The 3 Top Drivers of Crypto Adoption – BCH City Wrap-Up

Sordid Affairs at MIT
While the MIT publication drums up fear of unfeasible regulation of bitcoin miners via an almost 50-years-old “hidden weapon,” things at the crypto-involved Massachusetts Institute of Technology aren’t looking so regulated, either. Last week’s resignation of head of the MIT Media Lab, Joi Ito, follows the revelation that he had been secretly accepting huge donations from then-convicted sex offender Jeffrey Epstein, who was arrested for additional charges of sex trafficking of minors in July, and reportedly killed himself in a Manhattan jail cell on August 10.
MIT is conducting an internal review of the Epstein matter, which could be connected to donations from such influential tech-savvy billionaires as Bill Gates. The school has a history of taking underhanded jabs at disruptive and subversive tech like Bitcoin, and remaining tellingly silent when human rights activists are put on the spit of government persecution, or when ties with brutal, U.S.-supported dictatorial regimes like Saudi Arabia are concerned. In a joint-authored MIT Media Lab-connected piece published to The Atlantic in 2016, the writers state:
The [bitcoin] cryptocurrency is a powerful tool for early adopters and middle-class entrepreneurs, but it may not provide the opportunities in the developing world that its advocates claim.

That’s fair enough, and at face value a pretty innocuous and possibly substantial claim. But the Bitcoin critical hint-drops continue throughout the piece, suggesting to readers that they “dig into the ways mobile money is embedded in new, networked systems of control and value enclosure, as opposed to being a purely grassroots phenomenon for social inclusion.”
Tellingly, the url for the piece includes the word “hype” and the original title, prior to being edited, was “The New Bitcoin Myth.” For anyone that can read between the lines here, The Atlantic piece is an attempted attack on the utility of crypto and its revolutionary potential, coming from a massively government-funded university. According to a 2017 letter from MIT president L. Rafael Reif:
Congress will shape the final terms. But because we rely on federal funding for 66% of our campus research support, we must take this “blueprint” seriously, for both what it says and what it signals.
The Atlantic has since changed the title of the 2016 MIT-penned crypto hit piece to “Can Bitcoin Be Used for Good?”
Indeed, the block size limitation critiques made in the article are valid, but that was 2016, prior to the BCH fork remedying this issue. Even the sometimes lagging transactions of that time didn’t make legacy services truly better, anyway, and for someone looking to escape the anvil-heavy shackles of the fiat banking racket, BTC still held great utility. The MIT/Atlantic piece promotes fiat transfer services over crypto alternatives, and takes aim at so-called “Bitcoin do-gooders.” At the end of the day, it reads a lot like any other crypto faux intelligentsia screed.

True Power Through P2P
In the crypto space, seeing which altruist can shout the loudest about adoption and inclusion is the norm. But prattling on about government regulation helping to mainstream crypto, or stablecoins like USDC helping to “bank the unbanked” is largely fruitless when it comes to real world application. One voice is noticeably underrepresented here: that of the simple peer-to-peer trader.
What the aforementioned MIT secret weapon piece fails to note is that crypto can indeed already help anyone. If the banks would get out of the way, and with them, the state. Thanks to ever-increasing regulations designed by global groups like the Financial Action Task Force (FATF), tax agencies like the IRS, and government talking heads or financial regulators, the “unbanked” still cannot access these revolutionary technologies freely. pointed out in a recent article on stablecoins that even access to the services supposedly tailor-made for the unbanked can require bank account information. A simple wallet, internet connection, and willing market is all that is truly required. So why do governments seek to complicate crypto? Maybe they’re not so much concerned with human trafficking and terrorism, after all, but more with maintaining control of the global money supply.

The Crypto Revolution Is Now
If politicians and lawmakers of the world truly want to help abused children, impoverished people, and victims of all sorts of other crimes and violations of humanity, they should turn the camera — and the handcuffs — back on themselves. Demanding that the unbanked and financially struggling of the world first pass through impossible KYC drawbridges, treating everyday P2P traders of crypto as criminals, and gaslighting an entire movement based on actions the government itself is more guilty of than anyone else — like murder, sex abuse, trafficking, and terrorism — perhaps it’s time to let the free market and local communities regulate themselves. This can be, and is currently being done in spite of the prevailing evil paradigm, via the understanding of individual self-ownership and economic sovereignty.
Eat BCH is a bitcoin cash initiative helping to feed people in Venezuela and Africa.
Wonderful charities and aid initiatives for helping the underprivileged of the world directly, already exist. Eatbch, for example, is a “Peer-to-Peer Electronic Cash-to-Food System” that collects BCH donations to feed hungry people in economically struggling regions of the world. A member of the South Sudanese team reported to
We started the charity part-time on weekends in the capital, Juba, in our neighbourhood and then expanded to some of the most affected areas by the conflict, such as the town of Yei or Bor. There, we were able to feed over 500 internally displaced people, mostly elderly and children. We were able to do that through our colleagues whom we trained after coming back from the blockchain conference.
Other notable crypto-friendly initiatives include Airdropvenezuela, Coins 4 Clothes, and EFF. Beyond organized efforts, though, the real revolution of peer-to-peer electronic cash is individual financial sovereignty. The more wealth everyday individuals can build, the better they can help themselves, their communities, and grow their visions for making the world a better, more free and humane place. This is something no centralized government can ever do, as the intimate, one-on-one relationships and knowledge held by private individuals in community with one another can not be “processed” or formalized by monolithic, inefficient, violence-based institutions like the state.
The reason that so many crypto regulations are being introduced while governments evade scrutiny for the very same crimes is simple: their money is not sound. Not even conceptually. Bitcoin is. If critical mass is reached, and everyday folks realize that economic sovereignty is possible, it’s game over. The Monopoly board will have to be folded up, and the sulking bullies sent home. It’s highly unlikely they’ll go without a fight.
What are your thoughts on crypto regulation and economic freedom? Let us know in the comments section below.
Op-ed disclaimer: This is an Op-ed article. The opinions expressed in this article are the author’s own. is not responsible for or liable for any content, accuracy or quality within the Op-ed article. Readers should do their own due diligence before taking any actions related to the content. is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any information in this Op-ed article.
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Total Surveillance Coin Will Be a Dystopia if Controlled by Facebook or Government

Digital currency provides unprecedented abilities to spy on and control what people do, and having that power in the hands of a few people is very dangerous. The Big Tech monopolies of Silicon Valley are building a future where your every action is monitored, and giving Facebook control over what you can and can’t do with your money will be the same level of dystopia as having a politician do the same.
Also Read: Capital Controls in Argentina Demonstrate Dangers of Government-Controlled Money
Libra Is The Exact Opposite of a Cryptocurrency Ideal
There has been a lot of attention given to Libra in the cryptocurrency community ever since Facebook has announced its plans for the digital coin. On social media and forums people were predicting it would be an on ramp to the new economy, and in conferences and other events people were talking about it as evidence that crypto is going mainstream. Some companies servicing the market have even announced that they are set to incorporate Libra into their current offerings. While the attention is understandable as Facebook is a huge company and its choosing to issue a digital token is a major event, the excitement is misplaced.
Cryptocurrency was invented to bring economic freedom to the world and provide people with a way to transfer money without intermediaries that can censor or block them. Libra will most surely be the exact opposite of this ideal. It will be a system for transferring value only between parties that are identified and pre-approved by the controlling bodies. And it may also be far worse than the current banking system.

Facebook makes its money selling your data. Not just your age, gender, and location, but also who you vote for, what causes you support and much more. It invests heavily in big data, artificial intelligence and other technologies to be able to track and commodify your every action on the Internet and in the real world. As its market value and billions in earnings prove, the company is very good at doing this, only second to Google perhaps. No bank in the world can match that. Giving Facebook the power to monitor every financial transfer you make is handing the social media juggernaut an incredibly powerful new tool to exploit you with.
Facebook and Government Are Closer Than You Think
It needs to be clear that the intention of Facebook is not to compete with banks, PayPal or credit cards, but to dominate all financial activities of its users. When payment apps started off in China they were just a way to send money to your contacts, but soon grew to become a universally accepted way to pay for everything and anything across the country. The ease of using a digital system like that is driving out all other payment methods in China, and Facebook will try to emulate that as much as it can in the rest of the world. Unlike the Chinese model however, Libra will not be just a conduit for local currencies, but its own coin backed by fiat.
This presents a direct threat to governments and central banks, and these have responded by putting a lot of pressure on Facebook. The company in reaction has basically said that it will bend over backwards to tailor the system to the desires of politicians in order to get their approval. This means that it will employ its full technological capabilities to make sure that users don’t do anything that the government disapproves of. And that will create a total surveillance system in a way that is not even imaginable for the banks to do.
K Street, the center of Washington, D.C.’s lobbying industry
Facebook has also not been idly waiting for governments to tell it what to do, and has been busy spending money to influence politicians to see things its way. The company is reportedly hiring the services of top lobbyists in Washington D.C., and probably doing the same in other capitals around the world as well. The social media giant is additionally embedding itself with governments by recruiting well connected politicians into its ranks, such as former British Deputy Prime Minister Nick Clegg, who is now Vice-President for Global Affairs and Communications at Facebook. This means that the company can be seen as part of the overall governmental system, not necessarily some free market venture competing fairly and just having to protect itself from government intrusion into its business.
How to Prevent a Total Surveillance Dystopia
The Big Tech monopolies of Silicon Valley are powerful data brokers with an insatiable hunger for all your personal information. Moreover, they use their dominance over mass communication platforms such as Twitter and YouTube to silence voices they disagree with over political questions, or at the behest of governments. If the same standards and tactics will be now be used with the new crypto money Libra, it will mean that they are going to harvest any transaction you make to build a profile of your behavior and desires, and if you stray from the path allowed by those in charge, you will be locked out of access to the system. Therefore, anyone that values economic freedom and privacy needs to avoid Libra like a fire in an oil refinery.

Digital currency can be used to create an undeniable and immutable record of any purchase you ever made if it is tied to your personal identity as Facebook wants. To avoid putting this power in the wrong hands, users need to choose projects created by real crypto developers, such as those of Bitcoin Cash (BCH), which make a deliberate effort to increase the privacy of users.
What do you think about Facebook’s planned digital currency and its relation to government? Share your thoughts in the comments section below.
OP-ed disclaimer: This is an Op-ed article. The opinions expressed in this article are the author’s own. is not responsible for or liable for any content, accuracy or quality within the Op-ed article. Readers should do their own due diligence before taking any actions related to the content. is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any information in this Op-ed article.
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India’s Popular ‘Who Wants to Be a Millionaire’ Show Gives Crypto a Boost

One of the most popular reality TV shows in India called Kaun Banega Crorepati, based on the show ‘Who Wants to Be a Millionaire,’ has just given crypto a boost. A contestant on the show was asked a question about Facebook’s Libra cryptocurrency, and the show’s host, Amitabh Bachchan, proceeded to explain what cryptocurrencies are to millions of viewers.
Also read: Indian Government’s New Report Views Crypto Positively
Indian Version of ‘Who Wants to Be a Millionaire’
Kaun Banega Crorepati (KBC) is one of the most popular reality TV shows in India. Based on the British program “Who Wants to Be a Millionaire,” the game show began airing in the year 2000 and is now in its 11th season. It is hosted by veteran actor Amitabh Bachchan. During Monday’s episode, he asked a contestant about Facebook’s Libra and then talked briefly about cryptocurrencies in general.
An episode of Kaun Banega Crorepati.
Himanshu Dhuria, a 19-year-old contestant from Uttar Pradesh who is training to be a commercial pilot, was in the hot seat. Among the questions presented to him was “What is Libra, proposed by Facebook?” He had to choose between four options: artificial intelligence camera, instant messenger app, short video platform, and cryptocurrency.
Similar to its Western counterparts, the show allows the use of lifelines to help contestants answer difficult questions, such as asking the audience, removing two of the four choices (50:50), and asking experts. Without using one of his lifelines, Dhuria correctly answered that Libra was a cryptocurrency. Host Bachchan then proceeded to briefly explain what cryptocurrencies are, stating:
Cryptocurrency is a form of digital and global money system — currency. Bitcoin, litecoin, [and] ripple are some existing cryptocurrencies.
KBC host Amitabh Bachchan.
The Indian crypto community is overjoyed that millions of KBC viewers have now been exposed to cryptocurrency. Nischal Shetty, CEO of local crypto exchange Wazirx, tweeted after the show that “Millions of Indians now know about crypto thanks to this.”
According to local media, the game show is among the most popular in India. reported earlier this month that the show racked up a viewership of 246 million in 2017, which dropped to 223 million the following year. Data by the Indian Broadcast Audience Research Council (BARC) shows that, in September 2017, KBC was the second most watched show in the country.
Danny Boyle’s 2008 film Slumdog Millionaire was loosely based on this show. It won eight out of the 10 Oscars it was nominated for at the 81st Academy Awards, including Best Picture. Further, the host in the movie, a role portrayed by Anil Kapoor, was based loosely on Bachchan. The actor has since appeared on a celebrity version of KBC. Bachchan himself is also an actor and producer. He gained popularity in the early 1970s and has won numerous awards.

Facebook’s Libra Scrutinized Globally
Facebook unveiled its plans in June for a newly formed subsidiary, Calibra, to provide financial services via the Libra network. “The first product Calibra will introduce is a digital wallet for Libra, a new global currency powered by blockchain technology,” the social media giant detailed. “The wallet will be available in Messenger, Whatsapp and as a standalone app — and we expect to launch in 2020.”
Since Facebook’s announcement, many countries have been scrutinizing Libra due to its massive scale which could propel the digital currency into the mainstream, jeopardizing the role of central banks worldwide. Several U.S. lawmakers have voiced their concerns and tried to stop Facebook from continuing its work on the project. The G7 countries have held several discussions on the matter. There have even been reports that some countries are escalating their efforts to launch central bank digital currencies to get ahead of Libra. China, for example, is reportedly close to launching its own digital currency that will resemble Libra.

As for India, former Secretary of the Department of Economic Affairs (DEA) Subhash Chandra Garg said at the time that the “Design of the Facebook currency has not been fully explained.” He elaborated, “But whatever it is, it would be a private cryptocurrency and that’s not something we have been comfortable with.” Garg headed an interministerial committee (IMC) tasked with studying all aspects of cryptocurrencies and providing recommendations. The IMC has submitted its report with a draft bill entitled “Banning of Cryptocurrency and Regulation of Official Digital Currency Bill 2019” to the Ministry of Finance. The government has told the country’s supreme court that this bill may be introduced in the next parliament session.
Positive News and Supreme Court Hearings
Since the IMC report and draft bill were made public on July 22, the Indian crypto community has been putting a lot of effort into convincing lawmakers how flawed the recommendations are. Instead of banning cryptocurrencies, the community is calling for positive regulation for the Indian crypto industry.

The Indian crypto community’s efforts have gained the support of some major industry groups such as the Internet and Mobile Association of India (IAMAI) and the National Association of Software and Services Companies (Nasscom). Both believe that banning is not the solution. The IAMAI also has a writ petition pending at the supreme court which challenges the banking ban by the Reserve Bank of India (RBI). The central bank issued a circular in April last year, banning banks from providing services to crypto businesses including exchanges. The ban went into effect 90 days later.
Last week, the Steering Committee constituted by the DEA, also under the chairmanship of Garg, submitted its final fintech report to the finance minister. The report put crypto in a positive light. It states that the “Use of digital tokens resolves the issue of multiple currencies, improves liquidity and capital compliance costs, allows for micro-payments and expedites the payment process, which further eliminates liquidity risks.” It further adds that “The mechanisms surrounding cryptocurrencies, particularly the blockchain and initial coin offerings (ICOs), are revolutionizing the global fintech landscape.”
The Indian supreme court is scheduled to resume hearing the case against RBI’s banking ban on Sept. 25. During the latest hearing of this case, the court ordered the central bank to reply to the representation filed by the IAMAI which outlines measures crypto exchanges could implement such as those related to KYC and AML. Meanwhile, the case concerning the country’s crypto policies has been moved to the end of January.
What do you think of this popular Indian TV show mentioning cryptocurrency and Libra? Let us know in the comments section below.
Images courtesy of Shutterstock, Fox Pictures, and Sony TV India.
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Roger Ver Shares His Story in New Video Series

As someone who was there from virtually the start, Roger Ver has seen and done it all in Bitcoin. A tireless evangelist for Bitcoin since long before it was cool, Ver remains a vocal proponent of the benefits of peer-to-peer cash and its power to effect positive change in the world. Every day this week, Roger Ver will be sharing a chapter from his life story in a multi-part video series. Rich in anecdotes, it provides a fascinating insight into how Roger Ver and Bitcoin became inexorably intertwined.
Also read: Despite Setbacks, Darknet Markets Show Continuous Growth in 2019
Roger Ver Revisits His Formative Years
From preaching the gospel of Bitcoin to anyone who would listen to funding early crypto startups, Roger Ver’s support for the industry has known no bounds. Bitcoin’s first angel investor remains an outspoken advocate for Satoshi Nakamoto’s creation, and is perhaps best known today for his support of Bitcoin Cash. An instantly recognizable figure within the cryptocurrency space, Roger Ver’s entrepreneurial spirit shone through from an early age.

In the first video in the series, published on September 9, Ver explains how his fifth grade class invented its own fiat currency, named after their teacher Lindy. Lindyland dollars would be used to pay kids for work or other tasks completed. The job that earned the most Lindyland dollars was carrying the food cart from class to the cafeteria, a task which Ver took on despite it meaning he would lose five minutes of recess each day.
“When you’re in the fifth grade, recess is the most important thing in life, but I wanted to earn those Lindyland dollars,” Ver recounts. “A lot of kids didn’t understand the difference, that one Lindyland dollar was not worth one US dollar – the actual exchange rate was 50 to 1.” The Chief Executive then confesses the money-making scheme he concocted, an experience which was to instill his first lesson on inflation.
Hustling in Junior High
When Roger Ver moved up to junior high, his side-hustles escalated and he found himself selling candy bars to fellow students. “My parents … took me to Costco where you could buy candy bars for 20 cents each,” Ver grins. “I had $20 of my own money, that maybe I found coins in couch cushions or whatever. I spent all of it on candy bars and then sold them at school for like 50 cents each. I was able to earn, I dunno, maybe $20 or $30 a week selling candy bars in junior high school and as a junior high school kid that was a lot of money.”’s Executive Chairman, who served as the company’s CEO for years, remains deeply involved in promoting crypto, and continues to invest in projects building new crypto protocols, applications, networks, middleware, wallets and other tools. He’s also active on the ground, getting out there to meet people at crypto conferences and global events, while striving for real world adoption of cryptocurrency as a medium of exchange and a mechanism for financial inclusion.
Having manifested itself at a precocious age, Roger Ver’s sharp eye for a deal led to him launching his first online venture in 1999 through 2000. At the peak of the dot com crash, Ver was looking for a new hard drive for his PC and discovered that in the clearance sales they were selling 9GB hard drives for around $100. Checking on Ebay he found that the same drives would fetch almost $400 online.
“I am going to use every last penny I have to buy these hard drives,” he recalls. “So I had $1,400 of my own money. I bought 14 of those hard drives, I kept one for me and sold the other 13 on Ebay.” He continues:
So I went and took the $4,000 that I made in profit plus the $1,400 I had before, so I had around $5,000 and I went and bought $5,000 of additional computer parts and I sold those pretty quickly … I thought, wait a minute, I can make $5,000 a week just selling computer parts on eBay? I’m done with college.
In subsequent episodes of Roger Ver’s video retrospective, the bitcoin entrepreneur picks up where he left off, in a frank interview that reveals how:
He sold Magic the Gathering cards and Beanie Babies on the internet in high school.
He went to prison for selling firecrackers online.
He sold his Lamborghini to buy more bitcoin.
At the end of the first episode, Ver sums up his business philosophy succinctly:
“All any business is, is moving something from where it is worth less to where it is worth more … The value is in the mind of the beholder.”

What are your thoughts on Roger Ver’s business story? Let us know in the comments section below.
Images courtesy of Shutterstock.
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Despite Setbacks, Darknet Markets Show Continuous Growth in 2019

Since the birth of the Silk Road, there’s been a cat and mouse game between global law enforcement and darknet market (DNM) operators. Over the last two years, law enforcement agencies have knocked out a slew of markets like Hansa and the massive Alphabay. Months later, Dream and Wall Street disappeared and online DNM communities were deplatformed. Despite the obstacles along the way, there are still more than 12 active DNMs today and forums filled with hidden market participants that are growing in number once again.
Also read: This Short Animation Might Make You Think Twice About Taxes
The Last Two Years Have Been Hard for Darknet Market Participants
Global law enforcement has been dedicating significant energy toward shutting darknet markets down. It’s similar to the drug war on the streets, but the investigations and battles are fought in the deepest recesses of the web. In the summer of 2017, investigators made headway when a major operation orchestrated by the FBI, DEA, Dutch National Police, and Europol told the world it had shut down the massive DNM Alphabay. The marketplace, just like the Silk Road, sold illicit narcotics for cryptocurrencies and managed to attract 200,000 users and 40,000 vendors.
One of the biggest DNM takedowns was the fall of Alphabay in 2017 and that year the Dutch police force and Europol operated Hansa for more than 30 days collecting information.
People could choose between 100,000 listings for fraudulent documents and more than 250,000 listings for marijuana and chemical substances. After the police teams shut down Alphabay, they also took over the DNM called Hansa, which saw a huge influx of users after Alphabay went dark. The law enforcement agencies operated Hansa undercover, collecting info on customers and vendors while recording data stemming from more than 50,000 cryptocurrency transactions.
The publication Deepdotweb was seized by global law enforcement last year.
Many people believe that the Hansa undercover operation led police to discover a lot more information about the DNM ecosystem. After the two marketplaces were shut down, the following year was filled with random DNM vendor and buyer arrests almost every other day. One particular website, Deepdotweb, a portal that published stories on these arrests, alongside DNM links and reviews, was seized in May 2019. Western District of Pennsylvania prosecutors published a 13-page indictment against, Deepdotweb’s (DDW) owners. The month prior, Reddit banned a subreddit called /r/darknetmarkets after the forum had gathered 180,000 subscribers.
/r/darknetmarkets was banned last year for breaking Reddit’s rules.
Reddit admins said the ban followed a new rule, which forbids the discussion of certain types of goods on the Reddit platform. The subreddit /r/darknetmarkets violated “Reddit’s policy against transactions involving prohibited goods or services,” according to the company. A few months later, Reddit also shut down /r/darknetmarketsnoobs for the exact same violations. Following the online community and the DDW publication takedown, the popular Dream Market closed its doors and Wall Street followed in a suspected exit scam.
Over 12 Active Markets in 2019 and a New Forum
Despite the loss of all these markets and the online communities, both parts of the DNM ecosystem are continuing to grow relentlessly. On Sep. 8, 2019, there are 12 darknet marketplaces that are still active according to The site is updated regularly with DNM information and the last update was two weeks ago. The chart does not provide a comprehensive list of all the DNMs available, as there’s a whole lot more on a hidden list. Well known and established DNMs currently listed as “online” and “active” include the Majestic Garden, Samsara Market, Cannazon Market, Berlusconi Market, Empire Market, Agartha Market, Yellow Brick Market, Horus Market, Genesis Market, Cryptonia Market, Grey Market, Dark Market, and Nightmare Market. has published descriptive information on seven of the current operational DNMs as of June 2019. All of them offer different wares for sale, and different marketplace features like multi-currency support, multi-signature and escrow systems, and on some of them you need an invite from a participating member to join.
There are more than 12 active darknet markets online as of mid-August 2019.
In addition to the slew of DNMs still available, a new Reddit forum called /r/darknet has been growing exponentially. Since the subreddit forum’s inception, there have been more than 61,000 subscribers. In the same manner, like the old forum, the new /r/darknet has a ‘marketplace Monday discussion,’ which is quite lively, a ‘marketplace mega-thread,’ and everyday conversations about things like dab cartridges, Netflix accounts, vendor reputation, and operations security (opsec) methods.
/r/darknet has more than 61,000 subscribers and is very active.
The forum has grown so large that subscribers have been begging /r/darknet moderators to clean up the place. For instance, a popular post written on Sep. 7 is called “Mods if you don’t clean this place up you’re going to be featured on CNN.” In the thread, /r/darknet subscribers discuss how big the forum has become and a few people insist that the forum’s mods needed to do something about some of the posts.
“[The OP] maybe a bit extreme about the whole CNN thing, but everyone’s publically asking the most stupid questions that reveal much more than they think are, mods should nuke some threads every once in a while,” one person commented on the thread. “The mod team needs a revamp — There are tons of rule-breaking posts,” another Redditor remarked.
The Continued Strength of the Agora
Despite the paranoia, there are posts every hour with people asking all types of DNM questions on the forum. The mods do have rules like accounts younger than four days can’t comment or post and discussing carding schemes is strictly prohibited. Moreover, posts that ask about markets going down are automatically removed as well. “These posts are low effort and fill up the forum,” explain the /r/darknet mods’ rules. Even though some of the largest DNMs have bitten the dust over the last two years, the ecosystem’s participants don’t seem to care. Just like the mythical serpentine water monster the Hydra, every time law enforcement chops off a DNM head, several more DNMs appear.
The tighter law enforcement grips, the more DNMs slip through their fingers.
As long as the globalized drug war continues, law enforcement and DNM participants will battle for supremacy, with one group taking the lead at times. Even though it sometimes seems the three-letter agencies are winning, there will always be people who believe that vices are not crimes and consenting adults will continue to do what they want. Just like the founder of the Silk Road once stated, these markets derived from an anti-authoritarian stance tied to Agorism and the movement is much larger than it was back in 2011-2012.
“Every single transaction that takes place outside the nexus of state control is a victory for those individuals taking part in the transaction, so there are thousands of victories here each week and each one makes a difference, strengthens the agora, and weakens the state,” the Dread Pirate Roberts (DPR) told the DNM community back in 2012.
Looking at the plethora of DNMs active today and the rise of the /r/darknet forum shows the anti-authoritarian belief system and market economy is still thriving.
What do you think about the DNM ecosystem, the active markets, and the growing darknet Reddit forum in 2019? Let us know what you think about this subject in the comments section below.
Disclaimer: Readers should do their own due diligence before taking any actions related to the mentioned marketplace domains, vendors, and products associated with this article. or the author is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services, products, websites, and vendors mentioned in this article. This editorial review is for informational purposes only.
Image credits: Shutterstock, Various DNM logos, Pixabay, Wiki Commons, and Reddit.
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Bron : Bitcoin en toekomst van crypto