Report Insists ‘Bitcoin Was Not Purpose-Built to First Be a Store of Value’

There’s been furious debate over the last few years on whether or not Satoshi created Bitcoin to be a peer-to-peer cash system or a purpose-built store of value. Lately, a few BTC proponents claim that Satoshi deliberately built Bitcoin to be a store of value (SoV). Despite the SoV narrative, the cofounder of OB1, Samuel Patt, wrote an in-depth research report uncovering nearly “everything Satoshi ever wrote,” which makes him firmly believe Satoshi’s invention was really “built for payments.”
Also read: Bitcoin.com’s Local Bitcoin Cash Marketplace Is Now Open for Trading
Store of Value Vs. Payments
BTC maximalists have been pushing the idea that Satoshi Nakamoto purposely designed Bitcoin to be a store-of-value (SoV) or the next digital gold. This debate has raged on for years, but more recently certain so-called thought leaders have determined that Bitcoin was meant to be an SoV and there’s absolutely no way it was designated to be peer-to-peer cash. Some have even said that Satoshi used the words peer-to-peer and cash because they think he/she couldn’t come up with anything better, while some have had the audacity to say they would go back in time and remove the words “cash” from the white paper.

One BTC proponent, Dan Held, cofounder of Zeroblock and Interchange HQ, has been bolstering the SoV narrative for quite some time. Held calls bitcoiners who believe otherwise the “cheap payments side” and often dismisses those who disagree him by saying “you don’t get it.” “Still think Bitcoin was meant for cheap coffee payments? Then you need to read this thread,” explained Held on Twitter. Throughout the subsequent thread, Held shares a variety of quotes from Satoshi that makes him believe the technology was purposely built to serve as a store of value.

However, on June 6 the cofounder of OB1, Samuel Patt, stated that he disagrees with the SoV theory and Held’s subjective valuation. OB1’s Patt has written a post called the “Breakdown of all Satoshi’s Writings Proves Bitcoin not Built Primarily as a Store of Value,” which shows Satoshi’s writings predominantly lean toward a payment system. Patt’s highly detailed post combs through hundreds of forum threads, emails from Satoshi, and the software itself. “After reviewing all of Satoshi’s writings, I can confidently state that Bitcoin was not purpose-built to first be a store of value — It was built for payments,” the research paper notes. Alongside this, Patt says he is merely debating the historical premise that BTC was purpose-built to be an SoV. Not what BTC is today or what it should be in the future, the author details.
“But that doesn’t mean that people should be given a free pass to rewrite history and make false claims about Satoshi’s intentions,” Patt writes. “That’s intellectually dishonest and needs to be called out.”

Satoshi Made Statements Supportive of the Payments Side and Never Discouraged Others From Talking About in This Manner
Patt’s research cites every single tweet within Held’s SoV Twitter thread and countless other comments from Satoshi’s online statements. Satoshi had also mentioned Bitcoin as a use case for payments 34 times and Patt also highlights that throughout the many Bitcointalk.org threads Satoshi never corrected people for referencing Bitcoin as a payment vehicle. “Satoshi encouraged these efforts and joined in many of these threads,” Patt details. The OB1 cofounder also details how people like Held have stated that Satoshi only mentioned these things to get the attention of cypherpunks.

Patt suggests that Held believes that Satoshi created an elaborate “marketing” scheme in order to get people to use Bitcoin. To Patt, the answer is far simpler than these claims. “Satoshi intended Bitcoin to be used for payments, and he reached out to the cypherpunks because he knew they would like the idea — Occam’s razor applies here, there’s no reason to propose a substantially more complex answer than the simple one,” Patt’s research paper details.

Crypto Luminaries Weigh In
Throughout the day, a few other well-known cryptocurrency advocates revealed that they agreed with Patt’s research. I’ve always maintained that payments were what Satoshi originally intended Bitcoin for, not ‘Store of Value,’” explained Vinny Lingham on Twitter. “That said, he left Bitcoin, so the community is now in control, for better or worse.” Multicoin Capital managing partner Tushar Jain said: “Satoshi clearly built BTC to be a medium of exchange — It’s literally called peer to peer digital cash in the title of the white paper.” Cornell professor Emin Gün Sirer shared his opinion as well concerning Samuel Patt’s study and stated:
An incredibly careful, detailed, and devastating post that takes down the false narrative that Satoshi was attempting to build a Store of Value.
Of course, Held and other SoV fans disagreed with Patt’s research and observations. Juan Galt detailed on Twitter that “Bitcoin was purpose-built to end central bank manipulation over interest rates and money supply.” “As to what the best technical path to get there is, the market continues to vote, Store of Value first, then Medium of exchange later, after scale, volume and price stability,” Galt added.

Held insisted he was “the first ever include both the white paper, forum posts, protocol, and timing” all of which he wrote to battle the “muh payments narrative.” It remains to be seen which narrative will triumph in the end with this seemingly never-ending debate. There are a lot of crypto enthusiasts who believe that a peer-to-peer electronic cash system is needed to bolster economic prosperity and don’t believe that people just holding and mere speculation works well over time. Over the last few months, the conversation concerning Bitcoin being specifically designed to be an SoV caused Patt to respond in a very detailed manner. It’s likely the crypto community will continue to debate this subject until people are truly satisfied that the market has answered.

What do you think about the debate about Bitcoin being designed to be an SoV versus a P2P payment system? Let us know what you think about this subject in the comments section below.
Image credits: Shutterstock, Twitter, Samuel Patt, and Pixabay.
At Bitcoin.com there’s a bunch of free helpful services. For instance, check out our Tools page!
The post Report Insists ‘Bitcoin Was Not Purpose-Built to First Be a Store of Value’ appeared first on Bitcoin News.
Bron : Bitcoin en toekomst van crypto

Blockstream Developers Alleged to Earn $850K Per Year

There are perks to working for Blockstream, aside from having to answer to Samson Mow. Developers for the Bitcoin Core software company are alleged to earn up to $850K per year thanks to a “stock option” that sees them paid 20% of their salary in BTC. That BTC is pegged at the price bitcoin was at in 2014, meaning that employees are paid around 85 BTC annually as part of their salary, a bonus of around $700K at current prices. That’s according to a new website called Cashbleed that claims to lift the lid on Blockstream’s salary structure.
Also read: In a World Where Central Planners Push Debt, Cryptocurrencies Look Better Every Day
Blockstream and the Reputed Golden Handcuffs Deal
Technically speaking, Blockstream employees could walk away from the company any time they want. In practice, there is no incentive to do so thanks to a salary option in which 20% of their wage is payable in BTC, perennially capped to the price it was at in 2014 when the firm was founded. That’s according to Cashbleed.com, a controversial website registered in the last 48 hours that makes some back of the envelope calculations and some bold claims.

The website describes the arrangement as a “scheme” that is ongoing, making it “very difficult for investors to get a return on their investment.” Blockstream, responsible for such Bitcoin Core technology as Segwit and Liquid, has raised $101M over three rounds from the likes of AXA and Mosaic Ventures. Cashbleed ventures: “Suppose an engineer was hired at $150,000 a year, and an extra 20% of their salary was paid as a bonus on top in Bitcoin. 20% of the salary would be $30,000. Blockstream then pays that amount in BTC assuming a price of $350/BTC. $30,000 / $350 = ~85 BTC to the employee, worth roughly $700,000.” It continues:
In effect the employee earns $850,000 a year. The salaries of senior executives are likely to be higher than this modest amount for an engineer.
The site came to light after Bitcoin.org owner Cobra tweeted a link to Cashbleed.com, writing in withering terms of how “Blockstream’s employees have been paying themselves grossly inflated salaries, despite the company’s lack of success with any real products.”
Allegations Receive a Mixed Response
Reaction to the allegations has been mixed, with Blockstream acolytes leaping to the company’s defense, while others have blanched at the sky-high salaries staff are allegedly entitled to. “So what?” shrugged one commenter. “They negotiated to be paid in the currency of their choice and it’s appreciated in value against USD. They took both the upside and downside risk.” “I would be pretty pissed if the company I worked for rescinded a stock option agreement after 5 years just because the stocks became 22x more valuable,” defended another Blockstream supporter. “If they purchased the BTC for the purpose of satisfying employee compensation packages the BTC isn’t even theirs to begin with.”
Estimated pay for Blockstream employees according to Cashbleed
If the alleged pay structure is broadly accurate, it may be so generous as to threaten Blockstream’s sustainability, according to Cashbleed. The website claims: “These obscene salaries are quickly depleting Blockstream’s Bitcoin reserves. We estimate the company won’t be able to survive more than a year of operation without raising another round of investment.”
On Subreddit forum r/btc, most commenters took aim at the source of the news, Cobra, with one instructing: “There is no evidence, it’s all made up. No sources, no nothing, just made up numbers and theories. Don’t fall for the snake’s tactics. Next week he’ll be back to praising Blockstream and bad mouthing BCH like he always does. He just wants a paycheck from Blockstream.”

Cobra is an enigmatic character who is known for his fierce and often contradictory opinions. In the past year, for example, he has oscillated between support for bitcoin core and bitcoin cash. Regardless of the veracity of the allegations, if Cobra was looking to cause a stir, he succeeded. On crypto Twitter, the debate rumbles on about one of the most controversial companies in Bitcoin and its controversial antagonist, Cobra.
Do you think these allegations about Blockstream are true? Let us know in the comments section below.
Images courtesy of Shutterstock.
Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry.
The post Blockstream Developers Alleged to Earn $850K Per Year appeared first on Bitcoin News.
Bron : Bitcoin en toekomst van crypto

In a World Where Central Planners Push Debt, Cryptocurrencies Look Better Every Day

Economists have been predicting a worldwide recession which could pose a risk to financial stability throughout various countries. Fear of an economic downturn has caused the central bank of Australia to cut interests rates on Tuesday and both the U.S. Federal Reserve and the Reserve Bank of India are in the midst of discussing slashing interest rates as well. What is more frightening is the fact that smaller financial institutions are also offering negative interest rates to consumers in a predatory fashion.
Also read: Bitcoin Cash Markets and Network Gather Strong Momentum in Q1
Governments and Financial Institutions Push More Debt, Negative Interest Rates, and Trade Wars
On June 4, an international contributing editor from the publication Sovereign Man discussed how he was offered a 10-year mortgage from Denmark, Nordea with a negative interest rate of minus 0.12%. The writer detailed how he once thought that this type of lending traditionally stemmed from big banking institutions but nowadays he says “negative interest rates are the norm.” “In other words, the bank would pay me to take out a loan — Thousands, if not tens of thousands of Danes will go out and take out mortgages that will pay them every month.” The Sovereign Man editorial emphasizes “how broken the financial system really is.”
“Now, institutions and governments are incentivizing people to consume, instead of save. In fact, they’re paying people to go into debt,” the editorial details.

The day before the central bank of Australia cut interests rates for the first time in three years. Interestingly, on the same day, the Reserve Bank of India’s six-member monetary policy committee (MPC) started discussing slashing rates to help curb inflation as well. In addition to India and Australia, the St Louis Federal Reserve President James Bullard and Fed Chair Jerome Powell talked about an interest rate cut too because the U.S. dollar has been under a lot of pressure. To make matters worse, the world is dealing with the current trade war spawned by U.S. President Trump. The World Bank Group, a family of five international financial organizations, coincidentally downgraded its 2019 growth forecast because of subdued trade growth.
The World Bank Group downgraded the global economy’s growth outlook n a report published on June 4, 2019.
Making the Insanity of the Financial System Work for Your Benefit
In the midst of all the fears of a spiraling economy possibly heading toward another deep recession, Sovereign Man editor Alex Moneton asserts that “it isn’t all doom and gloom.” In fact, when the global economy seems backward, Moneton and many others believe “you can make the insanity of the financial system work for your benefit.” There are alternative investments that can be extremely profitable in the future, Moneton claims, and all it takes is some willingness to find them and patience.

Sovereign Man describes investing in certain low-valued tech companies that have a solid foundation, but there are also the opportunities presented by cryptocurrencies. Digital currencies like bitcoin cash (BCH) and many others have outshined traditional investment assets like oil, gold, and popular stocks this year. Meanwhile, economic fears this year have pushed gold (Au) prices higher as Au values tallied a fifth straight session climb this week, capturing decent gains month after month since the first of the year. But Carlo Alberto De Casa, chief analyst at broker Activtrades, has written that gold prices are nearing all-time highs again and have yet to press past the upper resistance.
“The next target could now be the resistance area of $1,350-$1,370, a level which has always stopped gold in the last 4 years,” the analyst wrote this week.

Even though gold has been a safe haven asset for millennia, digital assets have proven to be more suited for permissionless free trade. Gold will likely still hold value due to its intrinsic value for things like jewelry and electronic components and people have always appreciated that Au is scarce. But cryptocurrencies like bitcoin cash (BCH) are not only scarce, but they also allow people to send the funds across borders for less than a U.S. penny per transaction. You cannot move $10 million dollars worth of Au so easily across the world due to gold’s weight, the need for strong security, and shipping costs. Even the head of Real Asset Strategy at Wells Fargo, John LaForge, revealed on May 28 that he believes investors are not looking toward the shiny yellow metal these days. LaForge told the press that gold prices no longer look attractive and investors should look elsewhere for defensive assets.

Cryptocurrencies Are Defensive Assets Due to Their Provision of Permissionless Capital Mobility in a World of Austerity Measures and Economic Uncertainty
Alternative investments like cryptocurrencies have shown incredible resilience this year and have been climatic in comparison to even gold’s rise in value. For instance, gold (Au) was priced at $1,284 per troy ounce on Jan. 1, 2019 and has increased 3.97% when spot markets opened this morning on June 6 at $1,335 per ounce. In contrast, bitcoin cash (BCH) prices on Jan. 1, 2019 were around $150 per unit and since then BCH prices ($385 per coin at press time) have increased in value by a whopping 156%. In a world that’s filled with predatory negative interest lending, trade war escalation, central banks causing more economic busts and booms, and nation-state issued currencies suffering from hyperinflation, digital assets continue to look better every single day.

Economists are predicting the world is headed toward a deep recession that could resemble the hard times global citizens experienced in 2008 or worse. The value of sending permissionless hard money like BCH across borders is becoming greater than ever. As Sovereign Man discussed, markets aren’t rational, but there are ways to escape the wrath of the storm. Beneath all the chaos there are smart investors making key decisions at a time when precious metals markets and global equity markets are becoming archaic relics. While the economy falters, the acceleration of cryptocurrency performance will shine brightly as an investment in permissionless capital mobility coupled with noncustodial solutions. If hard economic times push more individuals toward the incentives of cryptos, it might just be the learning experience people need to stop making the same economic mistakes over and over again.
What do you think about the world economy and where it’s heading? Do you believe a global recession is coming? Do you think cryptocurrencies like bitcoin cash are defensive assets against failing currencies and the faltering economy? Let us know what you think about this subject in the comments section below.
Images credits: Shutterstock, Twitter, The World Bank Group, and Pixabay.
Now live, Markets.Bitcoin.com – A comprehensive, real-time listing of the cryptocurrency market valuations. View prices, charts, transaction volumes, and more for the top 500 cryptocurrencies trading today.
 
The post In a World Where Central Planners Push Debt, Cryptocurrencies Look Better Every Day appeared first on Bitcoin News.
Bron : Bitcoin en toekomst van crypto

Why Bitpay Is Really Charging More for BTC Transactions

Bitpay has recently been attacked on social media for charging an extra fee for BTC transactions that it doesn’t ask of BCH users. The reality is that the company simply has to cover its operational costs related to the BTC network, where fees are currently very high again.
Also Read: How to Check Median BTC and BCH Transaction Fees
BTC Transaction Are Far More Expensive Than BCH
Bitpay, the popular payment processor that enables merchants to accept bitcoin cash (BCH) and bitcoin core (BTC), has received flack recently from advocates of the latter cryptocurrency. The company is accused of charging an extra fee on BTC transactions in order to push users to choose BCH. However, Bitpay’s fee structure has not changed; it still charges just 1% to process transactions, and the Network Cost charge they refer to was first introduced back in early 2017.
This Network Cost is a charge that helps the processor cover miner fees required for handling the payments. After a user pays an invoice and a miner fee on their side, Bitpay has to pay additional network fees on its side to move all its invoice payments so it can combine them for processing in something called an Unspent Transaction Output (UTXO) sweep.
Bitpay payment flowchart from customer to merchant
Bitpay explains on its support portal that if a Network Cost amount is calculated to be lower than $0.01 and less than 0.05% of the invoice price, the processor does not charge it. Thus BCH payments, which most often are well below this threshold, can appear to be exempt.
It is important to note that BTC network fees are orders of magnitude more expensive than those for BCH. For example, at the time of writing, the current median fee for BTC is $2.61, which is over 2,300 times higher than the current median fee BCH of just $0.0011. This means that a payment of $10 with BTC can cost over 26% to handle in a timely manner while with BCH it is virtually 0%. With such big differences, no company accepting on-chain payments that needs to stay in business can be expected to ignore the issue for all possible sizes of transactions.
So Who Is Really Keeping Fees High?
The reason BTC fees are currently as high as they are is that the network is suffering from heavy congestion due to insufficient space to handle all transactions. If you are new to the cryptocurrency community, and are unfamiliar with the whole block-size debate, you might assume this is a problem that will be fixed in time. However, as far as bitcoin core advocates are concerned, this is a feature and not a bug. They see high BTC fees as a way to push users onto their Lighting Network and want to eventually make on-chain transactions as rare and as expensive as “chartering an oil tanker.”

All this points to bitcoin core advocates attacking Bitpay just for exposing the high fees they themselves are responsible for. This isn’t the first time they have targeted the leading payment processor due to its support of BCH, putting politics ahead of users’ best interests.
What do you think about the higher BTC fees? Share your thoughts in the comments section below.
Images courtesy of Shutterstock, BitPay.
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 Bitcoin.com Markets, another original and free service from Bitcoin.com.
The post Why Bitpay Is Really Charging More for BTC Transactions appeared first on Bitcoin News.
Bron : Bitcoin en toekomst van crypto

Greenpages.cash Will Help You Find Merchants Accepting Bitcoin Cash

Cryptocurrency needs places where you can spend it. Bitcoin cash, with its low-cost and fast transactions, is a good option for merchants and buyers. A platform called Greenpages.cash helps you find stores that will readily accept your BCH.
Also read: New Browser Extension Enhances BCH Addresses for Easy Tipping
BCH Merchant Directory Lists Over 1,000 Stores
Greenpages.cash is a community-maintained BCH merchant directory that currently lists well over 1,000 merchants processing bitcoin cash payments. You can find both brick and mortar and online stores accepting BCH. A useful search feature allows you to look for a particular platform by name, product and service, or location.
The website offers many filtering options that will let you pull listings by categories. For example, you can search for physical stores where bitcoin cash is accepted. Alternatively, you can find gift card sellers and Openbazaar vendors. You can also select products and services offered on the Forra online marketplace or reachable via the Tor browser.

Green Pages has a separate section for merchants selling gift cards which offer you a great opportunity to spend BCH indirectly in stores that don’t currently accept cryptocurrencies. Bitcoin.com is one of the listed vendors. Check out our Spend Bitcoin Cash page, where you can shop online for a variety of products and order gift cards of major retailers such as Adidas, Macy’s, and The Home Depot.
The BCH merchant directory has an interactive map that allows you to locate hundreds of stores around the world where bitcoin cash is accepted for payments. The page lets you calculate the price of the cryptocurrency in U.S. dollars, euros, British pounds or Chinese yuan. You can also learn the latest news and developments in the crypto space from news.Bitcoin.com.
What other platforms listing BCH supporting merchants do you know? Tell us in the comments section below.
Disclaimer: Readers should do their own due diligence before taking any actions related to third party companies or any of their affiliates or services. Bitcoin.com 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 third party content, goods or services mentioned in this article.
Images courtesy of Shutterstock, Greenpages.cash.
Enjoy the easiest way to buy Bitcoin online with us. Download your free Bitcoin wallet and head to our Purchase Bitcoin page where you can buy BCH and BTC securely.
The post Greenpages.cash Will Help You Find Merchants Accepting Bitcoin Cash appeared first on Bitcoin News.
Bron : Bitcoin en toekomst van crypto

India’s Central Bank Denies Knowledge of Bill to Ban Cryptocurrencies

India’s crypto regulation is reportedly ready and there has been much speculation about what it contains. An Indian lawyer has gotten some answers from the Reserve Bank of India about a bill allegedly seeking to ban cryptocurrencies. Surprisingly, the central bank claims that it does not have any knowledge of this bill and did not endorse any ideas towards a complete ban on cryptocurrencies.
Also read: Indian Cryptocurrency Regulation Is Ready, Official Confirms
RTI Request to RBI
Indian lawyer Varun Sethi, founder of Blockchain Lawyer, revealed Wednesday that he has received a reply to the Right to Information (RTI) request his team filed with the country’s central bank, the Reserve Bank of India (RBI).
This RTI was filed on May 7 following an article published on April 26 by the Economic Times about a bill entitled “Banning of Cryptocurrencies and Regulation of Official Digital Currencies Bill 2019.” The article cites an unnamed government official claiming to have knowledge of the bill. “Our team was expecting to get insights about RBI role in helping draft the bill since it had been proactive in educating and informing investors about risks of cryptocurrencies,” the Blockchain Lawyer team explained after receiving a reply on June 4.
Varun Sethi
While the article claims that several government ministries were involved in the drafting of this bill, Sethi and his team decided to file their RTI with the central bank. Noting that the RBI has been a key minister in informing investors about the risks associated with cryptocurrencies in the past, Sethi explained:
We feel that the Reserve Bank has been issuing these notifications to investors so we thought that they must be aware of this bill and I feel that they are a good contributor to this proposed bill so they might have some information.
This is not the first time Sethi filed an RTI with the central bank. After the RBI issued its infamous circular in April last year banning banks from providing services to crypto businesses, he filed an RTI asking what research it did before imposing this restriction. “The RBI specifically mentions that it conducted no research or consultation before the implementation of [the] restriction,” he was quoted as saying. A number of industry participants have filed writ petitions with the country’s supreme court to lift the ban. The court is expected to hear the case on July 23.
Another RTI was recently filed regarding this bill but with the Department of Economic Affairs instead of the RBI. However, it was rejected based on RTI’s Section 8(1)(i).
RBI Denies any Knowledge or Involvement
The RTI Sethi filed contains five nine-part questions primarily concerning the central bank’s role in the aforementioned bill.
In its reply, the central bank denied “any written correspondence from other ministerial departments officially to RBI,” declared that it had never “sent out official communication to other departments for this matter,” and confirmed that there had not been “any communication received from Central Government in this matter.”

Further, the RBI claims that it had neither received any copy of this draft bill nor held any internal meeting “to discuss, deliberate and decide the plan of action ahead of how to ban cryptocurrencies and regulate official digital currency bill.”
Sethi summarized:
RBI has actually stated that they have not received any communication from any department and they have also not given any communication to any government department pertaining to [the] drafting of this bill and this is very surprising.
The lawyer reiterated, “we felt that RBI was a very crucial contributor for drafting this bill,” noting that “this is very interesting that if a draft bill is being created, [and] no communication either to or from RBI has actually happened.”
RBI Did Not Endorse a Complete Ban
The Economic Times article also reported that “A number of government departments including the Department of Economic Affairs (DEA), Central Board of Direct Taxes (CBDT), Central Board of Indirect Taxes and Customs (CBIC) and the Investor Education and Protection Fund Authority (IEPFA) have endorsed the idea of a complete ban on the sale, purchase and issuance of all types of cryptocurrency,” citing the unnamed government official.

Responding to questions about its involvement, the central bank proceeded to deny endorsing any such idea to other government departments, emphasizing that it never received any “written communication” or “copy of such endorsement from any other government department in this matter.”
Sethi described:
RBI did not actually propose any ban on crypto assets … [We also asked] did anyone else also propose these things to RBI … RBI said no.
Moreover, the central bank also does not have information to share regarding any delays on crypto regulation.
Why Wasn’t RBI Involved?
According to the Economic Times, the unnamed government official told the news outlet that the crypto-banning bill had been “circulated to relevant government departments.”
One of the questions in the RTI concerns the relevancy of the central bank for the drafting of this bill. “Is there information that RBI is not the relevant authority to take decisions in this matter?” Sethi asked, anticipating that the central bank might say that it had no knowledge of this bill. The central bank simply replied that it “does not have information in this regard.”
Drilling deeper, Sethi asked if the RBI had made any efforts to obtain a copy of the draft bill that had apparently been circulated to other relevant government departments, given that the RBI claims on its website that it “has been initiating many investor education notifications educating investors to refrain from investing in cryptocurrencies and risks involved therein.”

He also questioned, “what are the legal rights as per the powers entrusted with RBI, in case the bill is being discussed without the knowledge of RBI?” While maintaining that it did not have the information to answer these questions, the central bank confirmed that it had never “issued any circular/notification/public communication in this matter on its official website regarding such bill.”
Regarding the view of the committee with representatives from the DEA, CBDT, CBIC, and the IEPFA that “already there is a lot of delay in taking action against cryptocurrency,” the lawyer asked if an RBI officer was part of the committee and if the RBI made any submissions in this matter. The central bank replied, “RBI does not have information in this regard.”
Sethi reiterated, “RBI clearly stated that it had not received any communication from any government department or given any information to any government department in this matter,” and no RBI officer helped draft this bill. He elaborated:
This comes as a surprise since RBI is a key player in investor education and protection … not even a single RBI officer is actually part of the committee that has been created for [the] drafting of this bill.
Nischal Shetty, CEO of local crypto exchange Wazirx, commended Sethi for getting an answer out of the RBI and for “busting misinformation in the crypto sector in India.” He previously told news.Bitcoin.com that traders in India were not deterred by this rumor and his exchange saw rising trading volumes. “The report did not really affect volumes at all … Unless we hear something concrete from our finance department I don’t think it’s going to affect existing traders,” he shared. Commenting on RBI’s replies, the CEO remarked:
Is the bill even real or has there just been fake news being spread?
The Questionable Minutes
The Economic Times also claims to have reviewed minutes of the interministerial meeting which states that “There is an urgent need to ban sale purchase and issuance of cryptocurrency.”

Sethi asked the central bank to confirm if said minutes were from any meetings held at the RBI or any of the offices it controls or regulates. He also wanted to know if the RBI has the right to share such minutes with the news outlet. Without confirming or denying, the bank simply answered:
It is not clear as to which minutes of the meeting is being quoted by the news article published in Economic Times.
This RTI has significantly shed some light on the rumor of the bill to ban cryptocurrencies in India. Last week, the country’s new finance secretary, Subhash Chandra Garg, reportedly confirmed that the cryptocurrency regulation is ready. He heads an interministerial panel tasked with studying all aspects of cryptocurrencies and drafting India’s crypto regulation. India will be participating in the G20 meetings this month where crypto asset regulations and standards will be heavily discussed.
Do you think this bill to ban cryptocurrencies is legitimate? Let us know in the comments section below.
Images courtesy of Shutterstock and Varun Sethi.
Are you feeling lucky? Visit our official Bitcoin casino where you can play BCH slots, BCH poker, and many more BCH games. Every game has a progressive Bitcoin Cash jackpot to be won!
The post India’s Central Bank Denies Knowledge of Bill to Ban Cryptocurrencies appeared first on Bitcoin News.
Bron : Bitcoin en toekomst van crypto

Hotels and Realtors in Venezuela’s Historic Cumaná City Accept Bitcoin Cash

For years Venezuelans have been surviving the harsh economic climate of their country, beset by hyperinflation and political instability. Small businesses have been hit the hardest. But even in these difficult conditions, the ingenuity and hard work of Venezuelan entrepreneurs has allowed them to provide food for their families and services to their communities. Many of them are now using bitcoin cash as an alternative to the national fiat and Cumaná is one of the cities where adoption is growing.
Also read: Venezuelan Mining Parts Supplier Coincoin Now Accepts Bitcoin Cash
Bolivar Inflation Pushes More Venezuelans Towards BCH Adoption
The rapid depreciation of the bolivar has made it difficult to maintain a business, plan for the future and impossible to preserve the value of your income. That’s why many Venezuelans, both merchants and their customers, have sought alternative payment options and some have already found them in cryptocurrencies. Bitcoin cash, with its fees of less than a cent per transaction, is ideal for small, everyday payments in countries such as Venezuela, where poverty has led to widespread economic and social exclusion.

Bitcoin cash adoption has been growing fast during the past couple of years and according to the Marco Coino app, there are now over 200 businesses in Venezuela accepting BCH. Many of them are in the capital Caracas but the number of stores has been increasing in other cities as well. Not all of them are known to the world yet or even to their neighbors. Local Bitcoin Cash communities help a lot with spreading the word about the next store or restaurant that is open to BCH enthusiasts and willing to accept their electronic cash.
The members of one such community believe Bitcoin Cash brings “the original essence” of the cryptocurrency created by Satoshi Nakamoto. They are working to promote “the expansion and adoption of the money of the future” in the city of Cumaná, capital of the Venezuelan state of Sucre, which is located about 400 km east of Caracas. The region is home to merchants from various industries that take bitcoin cash.
Small Businesses in Cumaná Introduce Bitcoin Cash Payments
Several businesses based in Cumaná already accept BCH, Gustavo Torres, Bitcoin Cash ambassador in the city, told news.Bitcoin.com. Torres is the administrator of the Bitcoin Cash Cumaná Telegram channel and runs a social network of Bitcoin Cash enthusiasts. He shared that there are two real estate agencies, two hotels, a food store and a restaurant that welcome direct bitcoin cash payments.
Gustavo Torres at the Figueroa y Asociados C.A. real estate agency
La Casa de Lucas tasca restaurant, which started accepting BCH recently, can be found at the ferry terminal of the local seaport. Another representative of the hospitality industry which will let you pay with bitcoin cash is the Astoria hotel located on Sucre Ave 51. It is one of the first and oldest hotels in the central area of the historic city. Cumaná is actually the first continuously-inhabited settlement established by Europeans in South America.
La Posada Betsy Mar hotel
Another hotel where visitors can pay with bitcoin cash is called La Posada Betsy Mar and is near the beach in Cumaná. Agro Franco is a small store in the city’s main market which sells fish, chicken and pork meat, beans, grains, other foods and agricultural products. It has accepted bitcoin cash since March of this year. Gustavo Torres has helped all these small business owners by installing Bitcoin.com wallets on their mobile devices. This allows them to accept BCH payments and securely store their cryptocurrency.
Agro Franco food store
Venezuelans use a number of platforms to convert their crypto income from business revenues and remittances to fiat currency, often U.S. dollars or local bolivars. The P2P exchange Localbitcoins was a popular choice in the country, at least before it removed in-person cash trades from its options. Now, a true peer-to-peer alternative which launched on June 4, Local.Bitcoin.com, is gaining traction. The bitcoin cash marketplace allows users to trade BCH privately with anyone in the world.
Other exchanges where Venezuelans buy or sell bitcoin cash among major cryptocurrencies include Basichange.com, Cryptoway.io, and Ccoins. Airtm.com is a platform popular for sending, receiving and exchanging numerous fiat currencies including the bolivar with U.S. dollars, Torres added. He also pointed out that an option to exchange BCH with local fiat money would be a great addition to any crypto wallet and will make his task of persuading merchants to start accepting BCH payments much easier.
Do you expect BCH adoption to continue to grow in Venezuela and neighboring countries in South America? Tell us in the comments section below.
Disclaimer: Readers should do their own due diligence before taking any actions related to third party companies or any of their affiliates or services. Bitcoin.com 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 third party content, goods or services mentioned in this article.
Images courtesy of Shutterstock, Gustavo Torres.
Enjoy the easiest way to buy Bitcoin online with us. Download your free Bitcoin wallet and head to our Purchase Bitcoin page where you can buy BCH and BTC securely.
The post Hotels and Realtors in Venezuela’s Historic Cumaná City Accept Bitcoin Cash appeared first on Bitcoin News.
Bron : Bitcoin en toekomst van crypto

Former Mt Gox CEO Mark Karpeles Announces New Blockchain Startup

Former Mt. Gox CEO Mark Karpeles is dipping his feet back into the crypto industry as he wants to help Japan become a powerhouse within the blockchain economy. The former CEO of the now-defunct exchange told the media on June 5 about his new venture called Tristan Technologies.
Also read: Mt Gox CEO Mark Karpeles Found Not Guilty of Embezzlement
Mark Karpeles Is Back in the Crypto Business
Statistically speaking, Mark Karpeles was extremely fortunate to have been found not guilty of embezzlement in Japan, which has a 99% conviction rate throughout the land. In March, Karpeles was handed down a suspended sentence of roughly two and a half years and if he stays out of trouble he won’t have to serve time. Now the former Mt. Gox CEO has announced he’s stepping back into the crypto world and revealed his new blockchain startup to media outlets. Regional publication The Mainichi detailed that Karpeles’ new venture called Tristan Technologies aims to utilize his expertise with cryptographic technology.
On June 5, Mark Karpeles spoke to the Foreign Correspondents’ Club of Japan 公益社団法人 日本外国特派員協会.
According to Mainichi reporters, Karpeles told the press that he wants Japan to be the global leader when it comes to blockchain technology. So he’s established a startup in the country that aims to provide a new operating system (OS) that uses a distributed ledger technology framework and claims to be faster than OS competitors.
“Japan used to be engineering superpower in terms of its PCs but right now, taking the cloud for example, it’s the U.S. that dominates,” the former Mt. Gox CEO told the press. “But I still believe in the potential Japan has and I would like to develop that — My love for Japan has not changed.”

Mark Karpeles, former CEO of Mt. Gox, says “it’s been a very long road to today” when talking about his situation. He says “I had to start form zero” about his current financial status. He added “I want to make great things in the future again and I’m working toward this goal.” pic.twitter.com/u790drJS3q
— FCCJ (@fccjapan) June 5, 2019

Last year, in mid-April, it was reported that Karpeles landed a C-level position as the chief technology officer (CTO) for a firm called London Trust Media (LTM). It is uncertain how long Karpeles worked there, but the firm did not stray too far from the cryptocurrency industry either. LTM is a technology company that invests in virtual private network companies and digital currencies. The startup has created apps like Inbrowser for Mobile, and a cryptocurrency market cap monitor for Slack. When Karpeles disclosed this information last year, he was interviewed by the press in Tokyo’s Shinjuku district. At the time, Karpeles also revealed that there were times after his prison release when he feared for his safety and he was still facing embezzlement charges.
“After I came out, I felt like in a kind of dream, like I didn’t feel things were real — Even today I’m not sure yet,” Karpeles told the media.
Karpeles also still runs a blog called Magicaltux.net, which shares information about cryptocurrencies and blockchain technology. In the blog he also expresses opinions concerning what should happen with the current Mt. Gox civil rehabilitation plan. “As I see things Coinlab is still today the largest obstacle to getting this situation solved promptly,” Karpeles wrote. Karpeles emphasized to the press this week that he currently holds no digital assets. “I wouldn’t say I’m rich today,” Karpeles said, noting that he was starting his life from scratch. The former exchange operator has also published a book called “Cryptocurrency 3.0” and told regional reporters in Japan that he still finds great interest in the crypto space. It’s unclear what Tristan Technologies’ new blockchain operating system will offer in a time where distributed technology projects have taken a backseat, with most people now focused on cryptocurrencies that have real use cases. But it’s a sure bet with the latest announcement that the crypto community will be hearing a lot more from the former Mt. Gox CEO.
What do you think about Mark Karpeles’ new blockchain venture? Let us know what you think about this story in the comments section below.
Image credits: Foreign Correspondents’ Club of Japan, Twitter, and Pixabay.
Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry.
The post Former Mt Gox CEO Mark Karpeles Announces New Blockchain Startup appeared first on Bitcoin News.
Bron : Bitcoin en toekomst van crypto

There’s 100 Unclaimed Bitcoin Cash Wallets Hidden Worldwide

Over the last few months, the geocaching treasure hunt Findbitcoin.cash has gathered a bunch of new hidden BCH treasures. At the time of publication, there are approximately 105 concealed bitcoin cash wallets hidden all over the world with a large portion of these funds hidden in the U.S. and Australia.
Also read: Bitcoin.com’s Local Bitcoin Cash Marketplace Is Now Open for Trading
Hide Treasures or Become a BCH Scavenger With Findbitcoin.cash
Bitcoin cash supporters have seen a ton of innovative projects over the last few months and some of them have given people a new and fun experience to play around with. One initiative called Findbitcoin.cash gives people a sense of adventure because it allows them to both hide and search for BCH wallets anywhere in the world. Geocaching treasure hunt games have been extremely popular over the last few years and the creators of Findbitcoin.cash have brought the trend to the BCH ecosystem.

The platform gives people basic directions on how to print a bitcoin cash-loaded paper wallet and hide it in an obscure location. The website provides its own paper wallet generator, which creates a random public and private key pair for the creator. If a person decides to hide a bitcoin cash wallet using the platform they will need the public key in order to add it to the Findbitcoin.cash listings along with a hint about where the treasure can be found.

The BCH geocaching service recommends that people hiding BCH loot should print two copies of each wallet they are going to hide. This way if anything happens to the wallet, from say the weather or an animal, they can sweep the wallet later after they are satisfied it was compromised by the elements or too long has elapsed and the wallet was never found. Findbitcoin.cash also recommends that people use a plastic ziplock bag to protect the paper wallet from the weather or the hider could laminate it too. After creating the paper wallet, you can create a listing that gives people a description of the area where you hid the funds and you can add a few pictures as well of the surrounding location.
For instance, there’s this BCH hidden treasure taped to the Amway sign in front of the Amway World Headquarters. The specific post from Michigan offers a geolocation on the map and a picture of the Amway building. There’s also a comment section on each post too and the Findbitcoin.cash team says they “will be monitoring the addresses that are posted, so we can ensure that there are no points on the map with which there are no longer any wallets.”

Then there’s another posting called the “one of a kind Toronto Raptors wallet” which contains 0.2231669 BCH or $88 at the time of writing. Members of the BCH community have helped top the wallet up and the funds have been hidden somewhere in Toronto. “It won’t be easy to find,” explains the person who hid the BCH. “In order to learn where the wallet is, the Toronto Raptors need to win their games — Each game won, we will release a bigger clue — Each game lost, we will release a really small clue and clues will be added to this page.” So far there’s been one clue released so far on June 3 which states that the wallet is “within 1,000 foot radius of the house on the hill.” The Findbitcoin.cash platform’s paper wallets also have a message printed on them which explains what Bitcoin Cash is and how the finder or treasure hunter can learn more about the innovative technology.
“Congratulations — You have found a bitcoin cash paper wallet,” the paper wallets message reads. “Yes, this paper is worth real money. Bitcoin cash is a form of digital currency. It allows you to send or receive any amount of money to or from anyone in the world, anytime you want, virtually for free.”
Bitcoin Cash Has Been Hidden in 18 Countries and 6 Continents
The paper wallet then instructs the person who happens to find the money to head to the Findbitcoin.cash website, where it will teach them about bitcoin cash and how to claim the funds. Right now there’s been a total of 294 wallets hidden throughout nearly every continent in the world and 189 have been found so far. Out of the 18 countries that have seen people concealing wallets for the Findbitcoin.cash treasure hunts, the U.S. and Australia have been the most dominant areas. Out of the 105 unclaimed to date, there is a bunch of BCH treasures hidden in Thailand, India, Venezuela, Milan, Japan, and the Netherlands. Findbitcoin.cash also has a dedicated Twitter handle and Reddit forum called r/findbitcoincash so people can post about their hidden treasures and follow updates.

The BCH community has always been about fervently pushing BCH adoption and accessibility throughout the world. The BCH-based geocaching treasure hunt gives people a chance to not only learn about the benefits of the Bitcoin Cash network, but it also provides a recreational activity for those who dig the challenge of treasure hunts. With Findbitcoin.cash, people can savor both aspects of the hunt, relishing the ability to hide funds and clues but also allowing anyone from any location to scavenge for these digital treasures.
What do you think about the Findbitcoin.cash treasure hunting platform? Let us know what you think about this subject in the comments section below.
Image credits: Shutterstock, Findbitcoin.cash, and Pixabay.
Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry.
The post There’s 100 Unclaimed Bitcoin Cash Wallets Hidden Worldwide appeared first on Bitcoin News.
Bron : Bitcoin en toekomst van crypto

Why Darknet Drug Sales Are on the Rise

The public’s appetite for darknet drugs remains undaunted. A major new survey has shown consistent growth in online drug sales since 2014, with Scotland, Brazil and England leading the demand for narcotics procured off the darknet. Despite numerous darknet markets (DNMs) and supporting infrastructure including clearnet link sites and bitcoin mixers being shut down this year, business is booming.
Also read: The Darknet Rises With 6 New Markets
Why the Growth of Darknet Drug Sales Is a Good Thing
Global Drugs Survey (GDS), the largest poll of its kind, has published its 2019 report into the state of the recreational drugs market. It questioned more than 123,000 people from over 30 countries. GDS findings include darknet drug purchases more than doubling in England since 2014, with 28.6% of respondents professing to having purchased drugs from DNMs.
Bizarrely, GDS founder Dr Adam Winstock told the BBC that the greatest risk associated with buying drugs online involves extortion. “If you’ve given your name, somebody knows you’ve bought illicit drugs,” he said. “And then there’s a possibility that they will blackmail you.” There is no credible evidence to support this assertion. Moreover, the same reasoning, if it were true, could be applied to real world purchases of drugs.
A selection of wares currently for sale on Nightmare market.
While hard drugs such as heroin, crack cocaine, and xanax can be harmful, wherever they are purchased, the reputation system used on DNMs has been shown to build trust, minimizing the risks of purchasing narcotics that have been cut with harmful adulterants. Moreover, purchasing drugs online mitigates the threat of being robbed or sold diluted or fake substances. As a consequence, many drug users use DNMs not only for convenience, but also for safety.
Irresponsible reporting by mainstream media such as the BBC has left the public dangerously misinformed, leaving the impression that darknet markets are the riskiest way to purchase drugs, when in fact the reverse is true. For technically competent web users, DNMs are safer in almost every way than buying on the street.
What the Average Drug User Looks Like
In the 2019 Global Drug Survey, 87% of respondents were white and 59% were male, with a mean age of 29. The most popular illegal drugs used in the last 12 months were cannabis followed by MDMA, cocaine, amphetamines, LSD, and magic mushrooms.

Among darknet buyers, over 25% of those who purchased drugs from a DNM in the last year were doing so for the first time. MDMA, LSD, and cannabis were the most popular drugs bought on the darknet. “Over the last 6 years, there has been a year on year increase in the percentage of GDS participants obtaining drugs on the darknet in most countries,” notes the survey.
Business as Usual on the Darknet
Despite the usual spate of takedowns, exit scams, DDoSes, and doxings, DNMs remain in rude health, with new markets springing up to replace those that are shuttered. In the absence of trusted DNM gateways such as Deepdotweb, users can consult clearnet services such as dark.fail, cross-referencing its information with that to be found on onion forum Dread. “I think we need to be showing major recognition and appreciate for [dark.fail’s] efforts,” reads one recent post on Dread. “Consistent legit working onion for (almost) every DN recourse. It is incredibly impressive and a massive improvement from deepdotweb (RIP). Without dark.fail I (and others here) would probably have to be fumbling around Reddit, scouring for (inevitable) phishing links from a bunch of teenage edgelords.”
A sample thread on Dread, praising monero
Other popular threads on Dread encourage the community to use monero everywhere instead of BTC (“It is in our power as a community to change the mainstream behavior”), shame scammers, and praise reputable vendors. DNMs currently seeing the most action include Empire, Nightmare, and Cryptonia. While some of these will inevitably fail, the sheer number of markets that are available means there will always be somewhere for cryptocurrency users to get their fix. When trusted vendors are forced to migrate to a new market, their PGP key gives users confidence that they are still dealing with the same entity. Purchasing drugs online still necessitates a degree of risk, since these substances are still illegal in most countries. Given the convenience and quality assurances compared to street purchases, however, coupled with increasing adoption of crypto assets, it is no wonder that DNMs are growing in popularity.
Have you tried visiting any of the new darknet markets? Let us know in the comments section below.
Disclaimer: Bitcoin.com 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 Bitcoin.com 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.
Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry.
The post Why Darknet Drug Sales Are on the Rise appeared first on Bitcoin News.
Bron : Bitcoin en toekomst van crypto

New Browser Extension Enhances BCH Addresses for Easy Tipping

Bitcoin cash is a great fit for tipping online creators as it offers extremely low fees which is needed for small payments with cryptocurrency to make sense. A new tool aims to make the tipping process easier, removing the need to manually copy and paste BCH addresses.
Also Read: How to Use a Physical Security Key to Safeguard Your Cryptocurrency Exchange Account
Easy Tipping Extension for BCH Addresses
Snappy Cash is a recently released browser extension that enhances bitcoin cash addresses for easy tipping. It automatically finds any BCH addresses written in plain text on the websites you are viewing and conveniently adds QR codes that you can scan on your desktop for tipping via mobile wallets as well as integrated Badger Wallet widgets. The extension also optionally converts address selections and you can set it to ignore certain sites if you wish. Snappy Cash is available for installation on Mozilla Firefox and Google Chrome.

Bridging the gap between your wallet and who you tip! This browser extension enhances plain-text #BitcoinCash addresses with QR codes and integrated Badger Wallet widgets. @cgcardona @ColinAd33006332 @BitcoinCast pic.twitter.com/HFPl8qZiXI
— Sterling Beason (@SterlingBeason) June 4, 2019

If you are not yet familiar with the popular Badger Wallet, it is a noncustodial bitcoin cash light client wallet which also stores SLP-based tokens built on the BCH network and serves as a gateway to a multitude of other apps and services. It was originally launched for Chrome and Firefox as a browser wallet, but now there is an Android version and an app for Apple iOS was recently added as well.
What do you think about this new tool for easy BCH tipping? Share your thoughts in the comments section below.
Disclaimer: Readers should do their own due diligence before taking any actions related to third party companies or any of their affiliates or services. Bitcoin.com 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 third party content, goods or services mentioned in this article.
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 Bitcoin.com Markets, another original and free service from Bitcoin.com.
The post New Browser Extension Enhances BCH Addresses for Easy Tipping appeared first on Bitcoin News.
Bron : Bitcoin en toekomst van crypto

PR: Monarch Wallet Updates Bring SLP Support

Monarch Blockchain Corporation has updated the Monarch Wallet for Android & iOS with a new user interface, full transaction history support for all tokens, SLP token support, SLP Faucet where users can receive free SLP tokens and their Universal KYC Has Also Been Launched!
Monarch Blockchain Corporation is excited to announce new Monarch Wallet updates for Android and iOS, and the Launch of their Know Your Customer (KYC) 2.0. KYC 2.0, or what they are calling Universal KYC is an updated KYC experience that is web-based and allows users the ability to review available services, highlight application status, and prompt users to resolve any issues that may prevent approval of applications. Users will be able to update their KYC data to be used for future Monarch services. KYC 2.0 proves an essential aspect of realizing Monarch’s new business model. Partners that plug into the Monarch ecosystem will be able to quickly onboard new users who already have their KYC data ready to go.
Robert Beadles, President of Monarch Wallet, “Crypto is confusing for people, with all the various apps, cryptocurrencies, blockchains, services, and companies to choose from we aim to make it easy to access all of our partners from the Monarch Wallet with one KYC and one user login. I think its huge for adoption and the universal KYC for all our partners is live now!”
With this update, Users will now have the ability to store, send, and receive all Simple Ledger Protocol (SLP) tokens. The update is exciting as there are very few wallets, let alone universal decentralized crypto wallets that support the Emerging SLP standard protocol built on the BCH blockchain. SLP operates similarly as Ethereum’s ERC20 standard but is on the much faster BCH network. SLP is robust, simple, offers flexible issuance, and is the first and currently only BCH token system to support light wallets. Also, there is a unique faucet feature accessible from the details screen in the Monarch Wallet where users can tap the faucet button, be directed to a site, paste their code and receive free SLP tokens to their Wallet occasionally. The Monarch Wallet has also pinned the Official SLP token as a default currency in their Wallet.
With the new updates to the Wallet also comes a new user interface that makes the app look better on devices and is easier to navigate and use. The update now also brings transaction histories for all currencies supported in the Monarch wallet. Over 1900 cryptocurrencies will now have their wallet transaction histories available in-app, or at the very least have a 3rd party web page that displays the history. The update is a much-welcomed development as before only specific currencies supported full transaction histories.
To take full advantage of these new updates to the Monarch Wallet, download the app at https://monarchtoken.io/#download
Monarch is excited for these updates as they are in addition to The Monarch Wallet’s already impressive list of features like having some of the lowest fees for buying and selling BTC & ETH with Fiat, the ability to store, send, and receive over 1900 cryptocurrencies while ensuring users own their keys and seeds. Qualified & approved users can even earn up to 7.1% APR interest on select cryptocurrencies. Users can also make most ERC20 token swaps using the integrated ERC20 Decentralized Exchange, stay up to date with latest crypto news, track their portfolio, and check market prices for their favorite tokens. With these new updates, The Monarch Wallet is one of the, if not the most feature packed, free to download, universal decentralized crypto wallets available on the market.
To stay up-to-date with all things Monarch, be sure to join their Telegram Community Channel of over 28,199 members here: https://t.me/MonarchToken
Contact Email AddressBeadles@monarchtoken.io
Supporting Linkhttps://monarchtoken.io/#download
The post PR: Monarch Wallet Updates Bring SLP Support appeared first on Bitcoin News.
Bron : Bitcoin en toekomst van crypto

Malaysia Begins Approving Crypto Exchange Registrations

Malaysia’s securities commission has begun registering cryptocurrency exchanges after it started regulating the crypto space earlier this year. The first three crypto trading platform operators have been conditionally approved and given nine months to comply with registration requirements. Meanwhile, 19 crypto exchanges have been told to cease operations.
Also read: Indian Supreme Court Postpones Crypto Case at Government’s Request
First 3 Registrants
The Securities Commission Malaysia (SC) announced Tuesday that it has registered three Recognized Market Operators (RMOs) to establish and operate digital asset exchanges (DAX) in the country. Malaysia started regulating its crypto industry in January, requiring anyone interested in operating a crypto exchange to register as an RMO with the commission. According to the announcement:
The three registered DAX operators are: Luno Malaysia Sdn Bhd, Sinegy Technologies (M) Sdn Bhd, Tokenize Technology (M) Sdn Bhd. The SC has given the new RMOs up to nine months to fully comply with all regulatory requirements.

The three will become the country’s first regulated crypto exchanges once they comply with the regulatory requirements. The commission also “advises members of the public to be mindful of the risks related to trading in digital assets, including risks of trading on exchanges that are not registered with the SC.”
David Low, general manager of crypto exchange Luno’s Southeast Asian operations, confirmed that once his exchange has met the commission’s conditions, it “will become one of only three digital asset exchanges to be regulated in Malaysia, allowing investors to buy, sell and store cryptocurrencies.” Headquartered in London with regional hubs in Singapore and Cape Town, Luno entered Malaysia in 2015. The exchange claims to have close to 3 million opened wallets across over 40 countries.
19 Exchanges Must Cease Operations
The Securities Commission Malaysia has also ordered 19 crypto trading platforms to cease operations in the country and return funds and assets to investors, effective June 1. “Entities which have not been approved by the SC, including those which have previously been operating under the transitional period, are required to cease all activities immediately and return all monies and assets collected from investors,” the regulator emphasized, noting:
Operating a DAX without authorisation from the SC is an offence under securities laws … A person in breach may be liable to a fine or imprisonment term or both.
The commission maintains a regularly updated list of all approved exchange operators and those that are required to cease operations.

The 19 exchanges are Aes Signatum Berhad, Arbor Digital, B4u Exc, Belfrics Malaysia, Bitpoint Malaysia, Blokmy, Chako Global, Ezytronics (World Cloud Ventures), Finx Blockchain (Finx Capital), Getcoinapp, Gigaex, Mcp International, Mx Global, Pinkexc, Mbaex Online Pte Ltd. (Tezatech), Udax International, Upbit Malaysia, Vardiz Commerce, and Xbit Asia.
Regulation and Registration
Malaysia enacted the “Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019” on Jan. 15. The SC subsequently amended its Guidelines on Recognized Markets on Jan. 31 to introduce new requirements for crypto trading platform operators.
On Jan. 15, 45 crypto exchanges were operating in the country, according to the regulator’s website. Anyone wanting to operate a crypto asset platform had to submit an application to the commission by March 1, the regulator said at the time. Twenty-one of them were ordered to cease operations on March 1.

Datuk Syed Zaid Albar, the chairman of Securities Commission Malaysia, explained that “The new framework is part of the SC’s efforts to promote innovation while ensuring investor protection in the trading of digital assets.”
Low commented on Tuesday that “The regulation will ultimately bring clarity and protection to consumers and will ensure that all cryptocurrency businesses have adequate standards in place to protect investors and their funds.”
Another country that requires crypto exchanges to register with its financial regulator is Japan. However, they have to fully satisfy all the requirements before they can be registered. So far, 19 crypto exchanges have been registered and more than 140 have expressed interest in registering, the country’s top financial regulator has told news.Bitcoin.com. In addition, the media reported last week that the G20 leaders will discuss having a crypto exchange registry.
What do you think of how Malaysia regulates crypto exchanges? Let us know in the comments section below.
Images courtesy of Shutterstock and the Securities Commission Malaysia.
Are you feeling lucky? Visit our official Bitcoin casino where you can play BCH slots, BCH poker, and many more BCH games. Every game has a progressive Bitcoin Cash jackpot to be won!
The post Malaysia Begins Approving Crypto Exchange Registrations appeared first on Bitcoin News.
Bron : Bitcoin en toekomst van crypto

Anypay and Cointext Launch BCH-Powered Remittance Solution for Merchants

On June 3, crypto startups Anypay and Cointext debuted a global remittance application for independent merchants. The new payment solution utilizes bitcoin cash (BCH) and allows anyone from anywhere to send funds faster and cheaper than traditional remittance platforms.
Also read: Bitcoin.com’s Local Bitcoin Cash Marketplace Is Now Open for Trading
The New Anypay and Cointext Remittance Solution Aids Capital Mobility
The value of remittances being sent overseas and across borders is greater than ever and Anypay.global has teamed up with Cointext.io to make cross-border payments easier. For less than a U.S. penny per transaction, bitcoin cash can be easily transferred across the globe in a permissionless manner. Both startups believe that cross-border, crypto remittance can be a thousand times cheaper than traditional banks, forex firms, and even alternative financial transfer operations. When Anypay and Cointext revealed the latest partnership and the launch of the new remittance platform, Cointext founder Vin Armani detailed how low cost, decentralized payment networks like bitcoin cash can transform the remittance industry.

“One of the most overlooked prerequisites for the spread of economic prosperity and individual sovereignty is capital mobility — So often, when we see communities lifted from poverty it is due to an influx of outside capital, making an investment or purchasing goods and services from productive individuals,” Armani told news.Bitcoin.com after the announcement. “Entrepreneurs who have brilliant solutions to pressing problems don’t just come from the developed world.” Armani added:
Enabling money to flow, from any human on the planet to any other human on the planet, instantly and at incredibly low cost, is the great promise of Bitcoin. Bitcoin Cash enables that promise to still be realized. I know that this remittance platform with Anypay and Cointext is just the first glimpse of what will become a global movement of individuals taking back their financial sovereignty and connecting a global community dedicated to increasing human flourishing.
Connecting Cross-Border Payments to Friends and Family, No Matter the Distance
Essentially Cointext users can send any amount of BCH to a mobile phone in 42 countries by text message. If an individual wants to utilize the Cointext and Anypay remittance solution, all they would have to do is visit an Anypay.global merchant and request a specific amount of cash. Then the merchant can generate an Anypay invoice which will contain a five-digit short code specifically designed for Cointext users. After that, when the shopkeeper’s invoice is paid by the person sending funds using Cointext, the vendor can hand the cash to the recipient. Anypay cofounder Steven Zeiler said that he was thrilled to launch an application that transcends borders for far less than what today’s remittance incumbents charge.
“Anypay connects friends and family no matter the distance,” said Zeiler. “Instantly receive money from anywhere for free — It’s easy.
“International remittance has always been one of Bitcoin’s most promising applications,” Cointext founder Vin Armani explained. “Until now, there hasn’t been a user experience simple to use even for someone’s grandmother who lives in a village in the ‘old country’.”
BCH evangelist ‘Käptn Kook’ published a video that demonstrates just how easy the Cointext and Anypay.global remittance solution can be with a man named Mohammed Mustapha Yakubu who lives in Accra, Ghana. Mohammed’s brother Lamin resides in Heidelberg, Germany and Mohammed requested cash from a local vendor and relayed the shortcode to his brother on a phone call. Lamin simply paid the invoice using the Cointext shortcode and the merchant gave Mohammed the cash in just a few minutes. “What just happened here is Mohammed bought cash in Ghana and he did it by having his friend in Germany send cryptocurrency to the store,” remarked Anypay cofounder Derrick Freeman.
The Bitcoin Cash (BCH) community was pleased to hear about the partnership between Anypay and Cointext and the announcement was a top post on the Reddit forum r/btc. A report by the World Bank estimates global remittances are well over half a trillion dollars annually and climbing. Many BCH supporters believe that bitcoin cash can make a significant dent in the $600 billion per year overseas remittance industry. Anypay and Cointext’s solution, alongside the benefits of BCH cross-border transfers, give the end user lower costs and quicker global money payments within minutes.

What do you think about the Cointext and Anypay.global remittance solution? Let us know what you think about this subject in the comments section below.
Image credits: Shutterstock, Anypay.global, Pixabay, and Cointext.
Want to create your own secure cold storage paper wallet? Check our tools section. You can also enjoy the easiest way to buy Bitcoin online with us. Download your free Bitcoin wallet and head to our Purchase Bitcoin page where you can buy BCH and BTC securely.
The post Anypay and Cointext Launch BCH-Powered Remittance Solution for Merchants appeared first on Bitcoin News.
Bron : Bitcoin en toekomst van crypto

BCH Businesses Launch Development Fund for Bitcoin Cash

On May 30, the FVNI Development Society in collaboration with Bitcoin.com, Bitcoincash.org, Electron Cash, Bitcoincash.com and a multitude of individuals and businesses in China launched a new fundraiser to support the software engineers who maintain the technical development of the Bitcoin Cash network. The goal for Phase One is to raise 800 BCH by August 1, 2019, and BCH supporters can help fund development by visiting Bitcoin.com/fundraise, the front page of Bitcoincash.org and a number of other websites.
Also read: Bitcoin.com’s Local Bitcoin Cash Marketplace Is Now Open for Trading
Help Fund the Bitcoin Cash Roadmap
The developers of Bitcoin Cash need support from the community and more importantly from businesses to continue implementing the roadmap toward becoming peer-to-peer cash for the planet’s 7.7 billion citizens. The executive director and cofounder of FVNI Development Society, David R. Allen, has coordinated a fundraiser with several groups so that the business community and individuals can get involved with funding many of the developers who have been great assets to the BCH ecosystem. FVNI is a non-profit organization that supports Bitcoin Cash software developers and has provided support to projects such as Bitcoin ABC, Electron Cash, and the Bitcoincash.org website.

FVNI was set up in early 2018 as a not-for-profit society. Allen told news.Bitcoin.com that it was clear there was a need for an organization to help support the work of many teams and projects working on the infrastructure that forms the foundation under the growing Bitcoin Cash economy. Grants are allocated by a selection committee, with the mandate of investing in the needed technical development for the long term success of Bitcoin Cash. Bitcoin Cash has the potential to increase economic prosperity across the globe and by supporting infrastructure development, the recently announced fundraiser aims to bring us one step closer to accomplishing that. So far, over 100 BCH has been raised since June 1, and supporters were pleased to see how easy it is to donate.
One supporter, discussing the subject on the Reddit forum r/btc, remarked:
Done — I hope everyone donates a little to this cause. As Amaury has said, we need to invest in the infrastructure and development of BCH — By donating you are supporting those that support economic freedom.
The Bitcoin Cash Development Fund can be found on four different prominent BCH websites.
At the moment, people can support the BCH developers by visiting one of four websites: Bitcoin.com/fundraise, Bitcoincash.org, Electroncash.org and Bitcoinabc.org. On the front page of Bitcoincash.org, there is a Bitcoin Cash Development Fund window that shows a QR code for the BCH donation address and one that can be copied and pasted as well. From time to time, the window flashes orange when a new payment comes in so people can see the donations in real-time. It also tells a percentage of how much of the 800 BCH has been raised so far, alongside how many donations made and how many days are left to donate. At press time, there are 57 days left to donate to the Bitcoin Cash Development Fund.
At Bitcoin.com’s fundraiser, page donors can choose to donate to the general fund or choose to donate to a specific development team as well. Developers are important to the continued success of Bitcoin Cash (BCH) becoming a global currency for the world to enjoy.
Bitcoin Cash Is an Important Tool for Those Who Need Permissionless Money
When a BCH proponent visits Bitcoin.com/fundraise, the same types of data will be displayed so people can see how much has been donated so far and contribute. Bitcoin.com’s portal has four different development teams that can be donated to: Bitcoin ABC, Unlimited, BCHD, and Bcash developers. Visitors to the Bitcoin.com/fundraise page can also donate to any of the teams using the Badger Wallet. If you are a Badger Wallet user simply press the “Donate With Badger” button and it will direct you to the Badger application. If you don’t know which team you would like to specifically donate to, then you can simply donate to the BCH General Fund and your donation will go toward Bitcoin Cash development. All of the funds raised help push technical development and areas that will maximize the success of BCH.
The executive director and cofounder of FVNI Development Society, David R. Allen.
Since the fundraiser launched, news.Bitcoin.com spoke with David R. Allen in regard to the recent Bitcoin Cash Development Fund.
“Bitcoin Cash was built to provide economic freedom to anyone in the world,” Allen said. “It’s also a very important tool for a variety of countries who need permissionless money and regions that have a majority of citizens who are underbanked. The developers behind the scenes work relentlessly every day to improve the protocol, so it can be the scalable cryptocurrency Satoshi had designed.” Allen continued:
Software infrastructure and engineers create a strong foundation for BCH and those who have built businesses on the chain need a reliable network. The only way this can happen is through constant and diligent maintenance of the protocol and that calls for bright and innovative software developers.
Allen stated that the current campaign to raise 800 BCH is Phase One of the goal toward the immediate needs of developers. Following this campaign, stable ongoing funding and corporate support will be sought for long-term infrastructure development. If you want to support the vision of peer-to-peer cash for every individual on the planet then consider visiting Bitcoin.com/fundraise or Bitcoincash.org and donate to BCH development today.
What do you think about the Bitcoin Cash Development Fund? Let us know what you think about this project in the comments section below.
Image credits: Shutterstock, Bitcoincash.org, Electroncash.org, Bitcoin.com, FVNI Development Society, David R. Allen, and Pixabay.
Want to create your own secure cold storage paper wallet? Check our tools section. You can also enjoy the easiest way to buy Bitcoin online with us. Download your free Bitcoin wallet and head to our Purchase Bitcoin page where you can buy BCH and BTC securely.
The post BCH Businesses Launch Development Fund for Bitcoin Cash appeared first on Bitcoin News.
Bron : Bitcoin en toekomst van crypto

Markets Update: Cryptocurrency Prices See a Slight Correction

Cryptocurrency prices have corrected over the last 24 hours as most digital assets have dropped in value between 6-10% since June 2 at around 6:45 p.m. EST. At press time the entire cryptoconomy is valued at $250 billion with about $80.5 billion in global trades in the last day.
Also read: Bitcoin.com’s Local Bitcoin Cash Marketplace Is Now Open for Trading
Bulls Get Pushback
Digital currency values are lower this week after many coins dropped a few percentages during Sunday evening’s trading sessions. Crypto bulls started showing some exhaustion during our last markets update but global trade volume has remained roughly the same. On June 4 at press time, the price per bitcoin core (BTC) is around $8,011 and BTC has a market capitalization of about $142 billion. BTC is down 6% today and has lost 7.9% over the last seven days.

The second largest market valuation is ethereum (ETH) and each coin is trading for $250. ETH has a total market cap of around $26.6 billion and has lost about 4.7% over the last 24 hours. Ripple (XRP) is trading for $0.41 per XRP, having dropped 5.9% in the last day. Lastly, the fifth largest market valuation is held by litecoin (LTC) and each LTC is swapping for $105 per coin. LTC charts show a loss of 5.8% for the day and 7.4% for the entire week.
Bitcoin Cash (BCH) Market Action
Bitcoin cash (BCH) prices have dipped as well and each coin is trading for $397 per BCH at press time. BCH has lost 7.4% for the day and over the last seven days prices have dropped by 8.2%. Currently, bitcoin cash has an overall market cap of about $7 billion and over $2.1 billion in global trades in the last 24 hours. The top exchanges swapping the most BCH today include Coinbene, P2pb2b, Hitbtc, Binance, Huobi Pro, and Digifinex.

42.7% of today’s BCH trades are paired against tether (USDT) which is followed by BTC, capturing 26.1% of trades. Other strong BCH pairs on June 4 include USD (16.5%), KRW (7.8%), EUR (2.4%), JPY (1.9%), and TUSD (0.73%). Since April 1 BCH has seen a significant increase in daily onchain transactions with 35,000-150,000 transactions per day and on June 4 there’s been around 51,000 so far.

BCH/USD Technical Indicators
Looking at the 4-hour BCH/USD chart on Kraken shows that bulls have lost the reins temporarily. Technical indicators show that most oscillators are either impartial signals or sell signals. For instance, the MACd, a momentum oscillator that subtracts the longer-term moving average from the shorter-term moving average, shows bears may pull the price down a bit lower. However, the 4-hour Relative Strength Index (RSI ~32.93) is hovering in the middle after touching overbought conditions on June 3.

The two Simple Moving Averages (SMA) reveal the 100 SMA is still above the longer term 200 SMA trendline. This indicates that the path toward the least resistance is still the upside despite the recent correction. Order books show some fresh resistance above the $400 mark and some walls within the $430-450 range as well. On the backside, if bears attempt to bring the price lower than they will be stopped at support foundations between $375-340.
Crypto Assets, Precious Metals and the Tumultuous World Economy
It seems that crypto prices are consolidating at the moment and intraday traders are searching for new positions. The downturn also follows alongside U.S. stocks tumbling in value with Dow Jones Industrial Average (DJIA) losing 365 points on June 3 and Nasdaq and S&P followed suit. Precious metals saw small increases yesterday and the price of gold is nearing a 13-month high. Some believe that precious metals like gold and silver and cryptocurrencies will be fueled by economic uncertainty as both types of markets have seen significant jumps in value.

It’s likely due to the U.S. dollar’s drop in value which was sparked by commentary stemming from the St Louis Federal Reserve President James Bullard and Fed Chair Jerome Powell. Spectators believe the U.S. central bank is contemplating an interest rate cut in order to stabilize the American economy and dollar. As it stands, digital asset market values have increased a great deal in 2019. Even with the dip in value over the last 48 hours, at current market prices, cryptocurrency investments have still outpaced stocks, gold, and crude oil by a long shot.
Where do you see the price of bitcoin cash and the rest of the crypto 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 Bitcoin.com 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.”
Images via Shutterstock, Trading View, Bitcoin.com Markets, and Coinlib.io.
Want to create your own secure cold storage paper wallet? Check our tools section. You can also enjoy the easiest way to buy Bitcoin online with us. Download your free Bitcoin wallet and head to our Purchase Bitcoin page where you can buy BCH and BTC securely.
The post Markets Update: Cryptocurrency Prices See a Slight Correction appeared first on Bitcoin News.
Bron : Bitcoin en toekomst van crypto

How to Use a Physical Security Key to Safeguard Your Exchange Account

If you are keeping funds on a cryptocurrency platform such as a centralized exchange it is highly advisable you make sure your accounts are as safe as possible. Using a physical security key can greatly help with this as well as safeguarding other private services such as email and cloud storage.
Also Read: Israeli Supreme Court Stops Bank From Closing Exchange’s Account
Secure Your Crypto Accounts With a Physical Key
A physical security key is a piece of hardware used for verifying you have permission to access sensitive online services. It can be used for securing accounts on cryptocurrency exchanges employing two-factor authentication, replacing more vulnerable methods such as receiving verification codes via SMS. It greatly reduces the risk of hackers remotely taking over your account with cyber attacks such as phone porting, as they now need to have the actual device in their hands to gain access to your account.
Yubico.com Screenshot
One such physical security tool for crypto exchange accounts is Yubikey, which supports platforms such as Bitbay, Bitfinex, Bitmex and Kraken, among hundreds of other services. It is a line of small USB devices that fit into your computer and verify authentication with the press of a button. Many more platforms can be used with these tools and Coinbase exchange recently announced it is also gradually rolling out support for universal second factor security keys to its users, calling them “the gold standard of modern account security.”
Are you using any devices to secure your cryptocurrency holdings? Share your experience in the comments section below.
Disclaimer: Readers should do their own due diligence before taking any actions related to third party companies or any of their affiliates or services. Bitcoin.com 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 third party content, goods or services mentioned in this article.
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 Bitcoin.com Markets, another original and free service from Bitcoin.com.
The post How to Use a Physical Security Key to Safeguard Your Exchange Account appeared first on Bitcoin News.
Bron : Bitcoin en toekomst van crypto

Crypto Beats Fiat in Round the World Payments Race

Four contestants are currently racing their way around the globe in a quest to reach Amsterdam first. The Payments Race runs westwards from London, circling the globe before finishing at the Money 2020 event in the Dutch capital today, June 4. In keeping with its theme, each contestant must use a different payment method throughout their journey. Alex Hobern has selected cryptocurrency as his sole means of sustenance and survival on the winner-takes-all journey.
Also read: Bitcoin.com’s Local Bitcoin Cash Marketplace Is Now Open for Trading
Round the World Payments Race Showcases the Future of Money
Cash, card, mobile and crypto are the four payment methods available for the Round the World Payments Race, with one assigned to each racer. Northern Ireland, Hong Kong and Lithuania are among the checkpoints to be visited during the course of the westward circumnavigation.
Crypto candidate Alex Hobern is accustomed to drumming up publicity in his role as a social media creator and TV personality, but he’s a confessed newb when it comes to cryptocurrency. As such, his journey is one of self-discovery as much as it is global conquest. The rules of the challenge mandate that he can’t use crypto surrogates such as cryptocurrency debit cards or BATMs: Hobern is only permitted to spend crypto in its purest P2P form.
Alex Hobern
The Challenges of Living on Cryptocurrency
When asked by news.Bitcoin.com why he had selected cryptocurrency from the available options, Hobern explained: “In my view, it poses the biggest challenge. With a large and dedicated community, its adoption by merchants is extremely low. Being someone who thrives out of their comfort zone, I decided it was the best way to make the trip an actual challenge.” He confesses to having known “absolutely nothing” about cryptocurrency prior to the race save for a few tales from mates who got rich during the market mania of 2017. To help him out, London-based cryptocurrency payment service Wirex gave him a crash course on everything he should know before setting out.
Cryptocurrency’s suitability for spending is a matter that’s fiercely divided its community. While a significant proportion of BTC users have no desire to spend their coins, which they believe to be a store of value, others are eager to deploy their crypto as P2P cash including BCH, LTC, and DASH owners. Alex Hobern speaks glowingly of the support he’s received from the crypto community on his journey, but admits to having experienced difficulty in finding businesses that would accept cryptocurrency. He even visited a place called the Crypto Cafe that wouldn’t accept his digital coins.
Prior to arriving in Europe, Alex’s team were firmly in the lead, based on points scored for completing various payment challenges along the way. However, he found it difficult to complete the ‘Different modes of transport’ challenge in Europe using crypto, where he instead resorted to ticking off as many countries as possible to gain additional points.

Found a little spot in Hong Kong that accepts #Crypto… #TeamCrypto are eating tonight that’s for sure ! 🔥 #PaymentsRace #TeamCrypto #RTW #Money2020 pic.twitter.com/QqJZVWVhnL
— Alex Hobern (@alexhobern) May 30, 2019

Crypto’s Value Is Universally Recognized
Despite the difficulties of spending cryptocurrency in certain places, in every country Hobern has visited, there were people willing to welcome him and his crypto with open arms. Trip highlights have included yachting in San Francisco bay, with the aid of Cheung Tan from Token, who purchased tickets, enabling Hobern to pay him in BTC. Future.Travel and Trippki were used to arrange flights and hotels, all paid for in crypto, leaving Hobern with the task of meeting crypto enthusiasts on the ground to help him get around.

Hell yeah… what a wild ride it was. Round the world in 2 weeks using crypto 🔥🔥 #TeamCrypto #PaymentsRace pic.twitter.com/IksuLYa0xI
— Alex Hobern (@alexhobern) June 4, 2019

During the course of his trip, which finishes today, Hobern has managed to spend cryptocurrency in the U.K., Ireland, Canada, U.S., Hong Kong, Dubai, Austria, Slovakia, Hungary, Italy, Lithuania, Finland, Belgium and Amsterdam, primarily in BTC, ETH, and LTC. The difficulties of using bitcoin core for small payments became evident on at least one occasion, when Hobern found that the cost of the transaction fee exceeded the cost of the goods.
Team Crypto was first to cross the finish line a few hours ago, but will need to wait to find out whether they accrued more points than the other teams. Win or lose the Round the World Payments Race, Alex Hobern claims to have developed a love for all things crypto, and a desire to get into investing and trading when his epic journey wraps up in Amsterdam later today.

#TEAMCRYPTO first to cross the line. Thanks so much to everyone who supported along the way. No idea where we stand on points but a special shout-out to @wirexapp @FutureTravel14 @Trippki_ @bitrefill and @token_io for making this possible 🔥🔥🤟🤟 #PaymentsRace pic.twitter.com/dPl5Q3iIOx
— Alex Hobern (@alexhobern) June 3, 2019

Do you think it would be difficult to travel the world on cryptocurrency? Let us know in the comments section below.
Images courtesy of Shutterstock.
Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry.
The post Crypto Beats Fiat in Round the World Payments Race appeared first on Bitcoin News.
Bron : Bitcoin en toekomst van crypto

Bitcoin.com’s Local Bitcoin Cash Marketplace Is Now Open for Trading

The highly anticipated Local.Bitcoin.com is now available to the general public. As of right now, anyone in the world can use the service to trade bitcoin cash (BCH) securely. Since pre-launch signups were announced last month, thousands of traders have created accounts and there are over 2,200 active offers ready to go.
Also read: Creating Your Own SLP-Based Token Using Memo
Local.Bitcoin.com: Prepare to Trade Bitcoin Cash Peer-to-Peer
The Bitcoin.com team has been busy preparing for the launch of our private, peer-to-peer trading platform for the BCH community called Local.Bitcoin.com. We believe that BCH has the means to provide every global citizen with economic freedom, helping liberate them from the confines of the current manipulated economies people are forced to live with today. In contrast to government-issued fiat, the Bitcoin Cash network is a decentralized, peer-to-peer electronic cash system that moves beyond borders and can help the world enjoy a new monetary renaissance. In honor of the 30th anniversary of the Tiananmen Square protests, Bitcoin.com decided to launch the over-the-counter BCH marketplace on June 4.
CEO Roger Ver and the rest of the Bitcoin.com team are motivated by the positive ways in which widespread Bitcoin Cash use will make the world a better place.
Our team announced the launch of Local.Bitcoin.com during the second week of May and since then there’s been a ton of interest from crypto enthusiasts around the world. So far the marketplace has seen 7,680 signups, 3,118 total offers and 2,202 active offers from traders out of 3,118 created since launch. A great number of Local.Bitcoin.com signups stem from the U.S. (24.5%), Nigeria (6.1%), Indonesia (5.7%), India (5.1%), and the Philippines (4.7%).

There’s also a decent amount of accounts coming from the U.K., Canada, Zimbabwe, Venezuela, and Russia. Currently, 37.8% of traders plan on swapping with USD but there’s a large number of trades exchanging with EUR, INR, NGN, IDR, PHP, GBP, THB, and CAD. The most popular choice of payment is bank transfer (33.4%) but the second largest payment is in-person cash trades (16%). This is followed by Paypal (14.4%), cash deposit (7.8%) and Western Union (5.7%) while gift cards (2.7%), Moneygram (2%), Skrill (1.8%), and Venmo (1.2%) follow behind.

Today’s grand opening of Local.Bitcoin.com in honor of the Tiananmen Square protests will help make bitcoin cash accessible to anyone who wants unrestricted access to a tool that fosters economic freedom. Bitcoin’s first angel investor and the CEO of Bitcoin.com, Roger Ver, is thrilled to see all the signups and action taking place on the peer-to-peer market during the pre-launch up until the opening day. Ver ventured during the launch:
Local.Bitcoin.com is a game changer for not only for cryptocurrency trading, but for global trade as well.
Getting Started
Signing up for Local.Bitcoin.com is easy and only takes a few minutes. If you want to get in on all the private, over-the-counter trading action happening on our BCH marketplace then go directly to the trading platform’s signup page. Local.Bitcoin.com will ask you to create a username and password for the exchange and the system will also generate a private key offline. Everything is encrypted using AES256-CBC to a PBKDF2-stretched version of your password, ensuring that our company has no access to your Local.Bitcoin.com wallet as the entire process is completely noncustodial. After you complete the signup process, the system will send you a confirmation email so you can access your account settings and create trades.
Browsing the Local.Bitcoin.com trades during the grand opening.
Now that the market is open you can create offers and trades while also being able to browse the active trades currently listed. You can customize your account setting and change your username, write a blurb about yourself, edit your email address, and add a phone number as well. The account setting section will allow you to set up two-factor authentication and download your Local.Bitcoin.com wallet’s backup. Additionally, in the settings section, you can generate a referral code in order to invite family members and friends. For every person you refer, you earn 20% of the fees for the lifetime of all the users who sign up through your unique code.

Local.Bitcoin.com is a great noncustodial service that allows individuals to trade with each other freely. With Local.Bitcoin.com’s blind escrow system no one touches your money but you and it is technically impossible for our website to spend BCH held in escrow. The escrow makes it so both parties can complete a trade on their own, unlike competitor OTC services where the escrow is held by the third party for a short period of time. Bitcoin.com can help with dispute resolution but we can only allow the funds to be spent by the buyer or seller using the opcode OP_CHECKDATASIG. This opcode is only available using the Bitcoin Cash network and it enhances the decentralization of the Local.Bitcoin.com service. This is a significant technological achievement as the platform provides a way for users to leverage a noncustodial escrow system for the exchange of any product in any country. For instance, two BCH community members have already written some fascinating methodologies on how people can trade on our local market in a Shapeshift-like manner for other digital currencies or for literally anything.
“In general, [Local.Bitcoin.com] could be used for any trade paid with Bitcoin Cash,” BCH proponent Cláudio Gil said on the Honest.cash social network. “The same way you can choose “Cash (in person)”, meaning you will meet in person and pay cash for BCH, you could agree to trade stamps or even potatoes for BCH.”

Check Out the New Peer-to-Peer BCH Matchmaking Service Today
Today is a big achievement for Bitcoin.com and a milestone that will be remembered for quite some time. Launching a peer-to-peer BCH marketplace makes bitcoin cash far more accessible and we hope it inspires free trade that transcends borders and traverses all walks of life. If you want to learn more about Local.Bitcoin.com, visit our frequently asked questions (FAQ) section. There’s also a series of guides that provide step-by-step instructions on how to buy and sell on Local.Bitcoin.com after browsing existing offers. Another guide gives directions on how to stay safe and secure while trading with peers. So if you want a more personal trading experience and the ability to buy and sell bitcoin cash in a noncustodial manner, head to Local.Bitcoin.com and check out what our new peer-to-peer BCH matchmaking service has to offer.
What do you think about Local.Bitcoin.com? Let us know what you think about this subject in the comments section below.
Image credits: Shutterstock, Pixabay, and Local.Bitcoin.com.
Did you know you can also buy Bitcoin Cash online with us using a credit card? Download your free Bitcoin wallet and head to our Purchase Bitcoin page where you can buy BCH and BTC securely.
The post Bitcoin.com’s Local Bitcoin Cash Marketplace Is Now Open for Trading appeared first on Bitcoin News.
Bron : Bitcoin en toekomst van crypto

Israeli Supreme Court Stops Bank From Closing Crypto Exchange’s Account

In February 2018, the Supreme Court of Israel issued a temporary injunction order forbidding a major bank in the country from halting the activity of a local cryptocurrency exchange. Now the bank has been forced to accept that the company’s account will remain open indefinitely.
Also Read: Community Funding and Bringing Smart Contracts to BCH in the Weekly Update From Bitcoin.com
Banks Can’t Ban Crypto Exchanges for No Reason
Tel Aviv-based cryptocurrency exchange Bits of Gold can continue to have an account with Bank Leumi thanks to the intervention of the Israeli Supreme Court. The court has advised the bank to accept the appeal of the exchange against the closing of its account and the two sides reached a settlement that the judges validated as a ruling on Monday. The three supreme court judges who presided over the case also wrote that the exchange will continue its operations with “virtual coins” in compliance with any future regulations if and when those will be issued.

The exchange told local media that “This is a tremendous achievement for the company and the digital currency community, when the Supreme Court actually intervened and forced the bank to allow the company to manage an account whose main activity is connected to digital coins, despite the bank’s objection in principle.” Yuval Roash, CEO of Bits of Gold, added: “We worked hard to set up a company that met regulatory requirements in a new industry, and that work paid off. We managed to prove to the court that we are worthy of the trust of the banking system and that the attempt to close our bank account was wrong.”
Final Chapter in Bits of Gold vs. Leumi Saga?
In 2015, Bank Leumi decided to close the account of Bits of Gold, which is legally licensed as a currency changer business, only because it deals in cryptocurrency. The exchange turned to the courts and for several years kept working thanks to an injunction while awaiting a final verdict. In 2017, the Tel Aviv District Court authorized the bank to disallow Bits of Gold from trading in bitcoin, and the company appealed this decision to the Israeli Supreme Court which issued a temporary injunction. In early 2018 the Supreme Court ordered that the company can keep its account until a ruling was issued on the entire case.
Tel Aviv
This latest development should mean that the bank will no longer discriminate against businesses that deal with cryptocurrency without a justification to do so, however this does not mean that Leumi is now welcoming this type of activity. In the Bits of Gold settlement, the bank says that it reserves the right to examine each action in its account and take steps it thinks are needed to minimize risks from the company’s activity, and that this is not a precedent or an agreement for accepting any accounts in similar cases.
What do you think about this legal development in Israel? 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 Bitcoin.com Markets, another original and free service from Bitcoin.com.
The post Israeli Supreme Court Stops Bank From Closing Crypto Exchange’s Account appeared first on Bitcoin News.
Bron : Bitcoin en toekomst van crypto