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| April 21, 2018

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Taiwan Mining Chip Manufacturer Sees Record Sales Amid BTC Bounce

April 21, 2018 |

Taiwan Mining Chip Manufacturer Sees Record Sales Amid BTC Bounce

The world’s largest independent semiconductor manufacturer, Taiwan Semiconductor Manufacturing Company (TSMC) has reported record sales during  March 2018. TSMC’s president has attributed the company’s performance in part to demand for the hardware required to mine cryptocurrencies.

Also Read: Bitcoin Cash Smashes Through $ 1,000 USD 

World’s Largest Semiconductor Manufacturer Reports Record Sales

Taiwan Mining Chip Manufacturer Sees Record Sales Amid BTC BounceDuring a recent shareholder conference call, the Taiwan Semiconductor Manufacturing company announced revenues of 248 billion TWD (approximately $ 8.46 billion USD) during the first quarter of 2018 – a 6.1 percent year-on-year increase.

The company also recently revealed that March comprised the best performing month in TMSC’s history, with the company reporting approximately $ 3.5 billion USD in revenue in March alone. TMSC’s March profits comprised roughly 41 percent of the company’s earnings during Q1 2018.

Cryptocurrency Mining Drives Demand for TSMC Chips

Taiwan Mining Chip Manufacturer Sees Record Sales Amid BTC BounceC.C. Wei, the TSMC’s president and co-chief executive officer (CEO), has described cryptocurrency mining as a notable driver of demand for TSMC’s products, stating that “These results were mainly driven by strong demand from high-performance computing such as cryptocurrency mining.”

Mark Liu, TSMC’s other co-CEO, expressed the company’s expectation that demand from the cryptocurrency mining industry will continue to be strong throughout 2018, despite anticipating reduced sales for its 28mm chip. “We see very strong demand in the first quarter from cryptocurrencies. During the second quarter, while we do see some weakness in the 28mm chip, the [demand for] the rest of the technology is still very strong on cryptocurrency,” said Mr. Liu.

Despite the impressive performance during March, overall, TSMC performed slightly below expectations during the first quarter of 2018, with the company’s earnings per share of 59 U.S cents falling just one cent below consensus estimates.

TSMC Stock Prices Fall Amid Decreasing Smartphone Demand

Taiwan Mining Chip Manufacturer Sees Record Sales Amid BTC BounceDespite the record performance in March, TSMC shares have experienced a slump in recent days, as waning demand for smartphones prompted the company to adjust its end of year revenue prediction. TSMC now anticipates growth of 10 percent during 2018, down from its previous prediction of 15 percent.

Medhi Hosseini, an analyst for Susquehanna Financial Group, has stated: “We are lowering our estimates for [TSMC] to account for a steeper-than-expected inventory digestion by premium smartphone customers, particularly Apple.”

Do you think that demand for mining hardware will continue to grow, or stagnate during 2018? Share your thoughts in the comments section below!


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The post Taiwan Mining Chip Manufacturer Sees Record Sales Amid BTC Bounce appeared first on Bitcoin News.

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Big Money Meets Secretly with Regulators to Protect Ethereum

April 21, 2018 |

Big Money Meets Secretly with Regulators to Protect Ethereum

Big money venture capitalists and law firms met in secret, roughly a month ago, with the US Securities and Exchange Commission (SEC), according to two major media outlets. The SEC has been particularly active this year, causing those with interest in pet coins and projects to lobby the agency for special protection. Top of the list was a push to provide “safe harbor” for Ethereum.    

Also read: Telegram Uses Bitcoin in Effort to Thwart Russian Authorities

Big Money Lobbies for Ethereum in Secret

Andreessen Horowitz,  Union Square Ventures, along with powerhouse law firms Cooley, Perkins Coie, and McDermott Will & Emery, formed an ad hoc association, the Venture Capital Working Group. It appears to exist in an effort to influence what some see as inevitable, regulation. Almost weekly, the SEC has made noise about cryptocurrencies in one form or another, and the broader ecosystem continues to debate whether to go further underground or embrace government intervention.

Online political journal Politico broke the story, insisting a “group of venture capital firms with investments in digital currency-related companies has asked the SEC for a safe harbor from securities laws for certain projects.” Perkins evidently led the effort, flooding the SEC with a nearly 50 page note. The note “argues that while certain digital tokens sold to select investors before wider availability may qualify as securities, they should be granted protection from regulations once they are used for a non-investment purpose.”

Big Money Meets Secretly with Regulators to Protect Ethereum

It has been long thought if the SEC were to overtly designate a cryptocurrency coin or token a “security,” the weight of legal implications alone would probably kill it. Compliance would necessarily mean hoards of expensive lawyers, etc. The working group, therefore, wished to get ahead of that possible future by proposing safe harbor for some coins they feel are objectively not securities, hoping to secure what Politico refers to as “no action letters.”

Chief among the working group’s concern, evidently, is the second most popular cryptocurrency by market capitalization, Ethereum. Ether, the group’s plea to the SEC reads, “is a good example of this type of protocol token that has become so decentralized it should not be deemed a Security.” Saddling ether with the “security” tag, again, might sideline a great many future projects built on top of its network. Presumably, these are present and future companies the working group has heavily invested in.

Regulations for Thee, Not for Me

“Though many digital currencies run off code related to the Ethereum network that uses ether,” Politico was keen to point out, “the working group does not believe the safe harbor would necessarily apply to those tokens.” The key, then, just might be in what the term “decentralization” means, going forward. The document insists, “To remedy the uncertainty and confusion in this space, we are proposing a non-exclusive safe harbor to help provide guidance to the industry on what constitutes an ‘investment contract’ and how the investment contract law and guidance should apply to utility tokens.”

Ethereum has been credited/blamed for the boom in crowdfunding popularized with initial coin offerings, ICOs. The easy onboarding of ICOs has fueled a boom throughout most of 2017, and there appears to be little let up going into the second financial quarter. The SEC is on record as stating ICOs, to a project, are all securities, and so fall under the agency’s jurisdiction.

Big Money Meets Secretly with Regulators to Protect Ethereum

“Under the terms of the safe harbor,” Politico continues, “digital currencies would not be subject to securities law, including the so-called Howey test, once they achieve certain benchmarks centered on blockchain software functions. Pre-sales of tokens would continue to fall under securities law.”

The group, comprised of the two biggest venture capital funds within the ecosystem, “met with the S.E.C. in Washington on March 28 to present their idea for a safe harbor that would allow some tokens to be categorized as ‘utility tokens’ rather than securities,” according to the New York Times, who picked up the story a day later. Whereas coins such as bitcoin cash (BCH) did not arise from an ICO and have no central organizing body, they appear to be safe and sufficiently “decentralized.” Ethereum, however, is another matter altogether. It did sell ether initially through a primitive form of an early ICO. As of this writing, there is no word as to whether the SEC accepted the group’s definitions and requests.

Do you think it’s time for the ecosystem to embrace regulation? Let us know in the comments section below.


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The post Big Money Meets Secretly with Regulators to Protect Ethereum appeared first on Bitcoin News.

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Kraken CEO Condemns “Hostile” Questionnaire Issued by New York AG

April 21, 2018 |

Jessie Powell, the CEO of U.S.-based cryptocurrency exchange Kraken, has publicly stated his refusal to answer a questionnaire issued by the New York Attorney General’s office. Mr. Powell has described the questionnaire – which was sent to thirteen virtual currency exchanges operating in the United States – as hostile to both cryptocurrencies and the virtual currency sector generally.

Also Read: Institutional Demand for Bitcoin and Crypto Resurges

Kraken CEO Rejects Questionnaire From New York Regulators

Kraken CEO Condemns "Hostile" Questionnaire Issued by New York AGThe chief executive officer of major cryptocurrency exchange Kraken, has criticized a questionnaire sent to thirteen cryptocurrency exchanges operating in the United States by the office of the New York Attorney General.

Kraken described the questionnaire for “Virtual Markets Integrity Initiative” as comprising a “tone-deaf response” to the emerging cryptocurrency on the part of New York’s regulators. The company claims to be “happy to help government understand our business” under “ordinary” circumstances, however, describes the questionnaire as being overtly “hostile to crypto,” and indicative of hostility toward the industry on the part of the state of New York generally.

On his private Twitter account, Mr. Powell also described acceptance of the questionnaire as comprising “placative kowtowing.”

Eric Voorhees, the chief executive officer of Shapeshift, thanked Mr. Powell for his comments on Twitter, stating “thank you for taking the ethical stance and speaking up for what’s right. Crypto has brought more transparency to finance and protection to consumers than the last 100 years of bureaucratic nonsense that has spilled from the sewers of New York.”

Office of New York Attorney General Issued Questionnaire to Thirteen Cryptocurrency Exchanges

Kraken CEO Condemns "Hostile" Questionnaire Issued by New York AGThe so-called questionnaire comprises a 34-point survey requesting that exchanges provide information including that pertaining to their ownership structure, basic operations, know-your-customer (KYC) policies, and anti-money laundering procedures by May 1st.

The questionnaire has been issued to Coinbase, Inc., Gemini Trust Company, Bitflyer USA, Inc., iFinex Inc (Bitfinex), Bitstamp USA Inc., Payward, Inc. (Kraken), Bittrex, Inc., Circle Internet Financial Limited (Poloniex), Binance Limited, Elite Way Development LLC (Tidex), Gate Technology Inc, Itbit Trust Company, and Huobi Global Limited.

New York Attorney General, Eric Schneiderman, claimed that “With cryptocurrency on the rise, consumers in New York and across the country have a right to transparency and accountability when they invest their money. Yet too often, consumers don’t have the basic facts they need to assess the fairness, integrity, and security of these trading platforms” in a press release issued on April 17th. “Our Virtual Markets Integrity Initiative sets out to change that, promoting the accountability and transparency in the virtual currency marketplace that investors and consumers deserve,” Mr. Schneiderman added.

Following Mr. Powell’s rejection of the questionnaire, Amy Spitalnick, a spokeswoman for Eric Schneiderman, described the questionnaire as having requested “very basic information that any credible platform should have on hand and be willing to share with their investors […] Legitimate entities generally like to demonstrate to their investors that their money will be protected.”

How do you feel about the questionnaire issued to cryptocurrency exchanges by the office of the New York Attorney General? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Times of Israel


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No, Visa Doesn’t Handle 24,000 TPS and Neither Does Your Pet Blockchain

April 20, 2018 |

No, Visa Doesn’t Handle 24,000 TPS and Neither Does Your Pet Blockchain

When it comes to measuring the speed of new blockchains, the comparison is always with Visa. Despite not being a blockchain, the 24,000 transactions per second Visa reportedly handles have attained mythical status. That figure is unquestioningly trotted out whenever scaling is discussed. In reality, claims of Visa’s throughput, as well as those of emerging blockchains, have been greatly exaggerated.

Also read: The Bitcoin BCH Block Explorer Explodes With Blockchain Data

Visa, Scaling, and the 24k Hoax

Visa CEO: Bitcoin is Not a Payment SystemBitcoin was envisaged as a payments system and so it was natural, long before the store of value notion emerged, that comparisons would be made with existing global payment systems. Bitcoin’s early adopters knew that if the technology took off, some time in the future it would need to handle magnitudes more transactions per second than the 7 it could muster. Someone mentioned Visa with their magical 24k per second, and it’s stuck ever since.

Only that figure isn’t entirely accurate. In fact it’s not even remotely accurate. In reality, Visa processes around 1,700 transactions per second, a figure it rarely exceeds. The larger number is the one that Visa claims, and it’s the one that’s usually referenced in comparison to bitcoin and every other blockchain. In theory Visa should be able to handle that volume – in fact it’s been reported that its servers can handle as much as 56k tps – but that’s all theoretical, much like the claimed throughput of new blockchains that can operate at the speed of light in the lab, but significantly worse in the wild. There’s a big difference between operating a testnet on a bunch of Amazon servers and a mainnet distributed around the globe.

You Can’t Have Your Cake and Eat It

Speed and throughput come at the expense of decentralization, and the more you increase the former, the more of the latter you lose. Blockchains such as EOS and NEO are certainly faster than bitcoin, but they’re also highly centralized because they rely on a much lower number of validator nodes, among other things. There is nothing inherently wrong with having a fast but semi-centralized blockchain, but it is never going to become a global payment system with censorship-resistant properties that can rival bitcoin.

No, Visa Doesn’t Handle 24,000 TPS and Neither Does Your Pet Blockchain

Even at 1,700 transactions per second, Visa is still significantly faster than bitcoin and most other blockchains, but this figure is at least a far more realistic one to reference and a more achievable one to aim for. Blockchain scaling can be implemented in a range of ways, from increasing the block size to layer two solutions (Lightning Network) to using techniques such as sharding, all of which carry various trade-offs. There is no reason why Bitcoin Core, Bitcoin Cash, and other blockchains cannot reach much higher speeds and levels of throughput without compromising on their decentralization, but this will take time and tech.

No, Visa Doesn’t Handle 24,000 TPS and Neither Does Your Pet BlockchainFor now, any time a new blockchain starts making promises about “beating Visa’s 24,000 tps”, be sceptical and examine the fineprint. IOTA’s meant to be fast and scalable, but like a kid who’s terrified of removing the stabilizers from their bike, it still doesn’t function without its coordinator. Hashgraph is also meant to be fast, but it comes with threats to sue anyone who tries to fork it and any blockchain that can be sued isn’t a decentralized network. Come to think of it, it’s more like Visa.

Do you think the performance of new blockchains is typically overstated? Let us know in the comments section below.


Images courtesy of Shutterstock, and Twitter.


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The post No, Visa Doesn’t Handle 24,000 TPS and Neither Does Your Pet Blockchain appeared first on Bitcoin News.

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German Cops Look Hard at Antics of ICO Savedroid After Ghost Prank

April 20, 2018 |

German Cops Look Hard at Antics of ICO Savedroid

The same German online news outlet that broke the Savedroid supposed exit scam, turned gotcha publicity stunt, is reporting prosecutors just might have a legal case against the initial coin offering (ICO) outfit.

Also read: Bitcoin in Brief Thursday: ICO Scares Investors with Ghost Prank

German Prosecutors Consider Legal Action Against Savedroid

Wirtschafts Woche, the same German source that announced a $ 50 million exit scam by ICO Savedroid, is reporting prosecutors in Frankfurt are examining the “extreme advertising campaign” of the startup. After an elaborate hoax was played on its investors and the public, the company has been doing heavy damage control. According to the online news group, prosecutors have begun a “preliminary investigation.”

A day or so ago, nearly every media outlet in the space ran headlines about tens of millions of dollars ghosted by a brazen ICO founder. He appeared on a beach, Egyptian beer in a frame beside him. Safedroid’s website featured a well-known meme, circumstantially suggesting yet another ICO has orchestrated an exit scam.

German Cops Look Hard at Antics of ICO Savedroid

But this one seemed off. Veteran journalists, and these very pages, wondered aloud if this wasn’t just a publicity stunt. By later that evening, the site was back up, insisting they were joking and trying to educate the ecosystem about the potential of fraud. “That could have legal consequences for Savedroid now,” the German website stated.

Founder Yassin Hankir released a video statement, asking the public “let me apologize for the drastic campaign.” Indeed, even the company’s Telegram account ghosted during those hours. In situations like these, especially with new investors to whom ICOs are geared, dangerous emotions are often involved, including drastic measures of self harm. Losing considerable sums is no laughing matter, especially if it’s your money.

German Cops Look Hard at Antics of ICO Savedroid
Yassin Hankir

For Education Purposes

Mr. Hankir continued, “We’ve noticed in the past few months that there are a lot of scams in the industry and we believe this is just the tip of the iceberg. That’s why we wanted to use this very drastic method to show that even we, as a very heavily regulated German company, could easily have run away with all investments.”

Noted.

Wirtschafts Woche also revealed that indeed police have visited Mr. Hankir to discuss the issue.

Would you invest in Savedroid now? Let us know in the comments section below.


Images courtesy of Shutterstock.


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The post German Cops Look Hard at Antics of ICO Savedroid After Ghost Prank appeared first on Bitcoin News.

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Mt Gox CEO Mark Karpeles Lands New Job — CTO for Cryptocurrency Firm

April 20, 2018 |

Mark Karpeles Lands a Job — CTO for a Firm Associated With Cryptocurrencies

The infamous former CEO of the now defunct bitcoin exchange Mt Gox, Mark Karpeles, is trying to start over with a clean slate in life. Karpeles has revealed to the media that he’s started a new C-level position as the Chief Technology Officer (CTO) for a firm called London Trust Media. The technology company invests in virtual private network companies and cryptocurrencies.

Also Read: Indian Exchange Takes Central Bank to Court Over Bank Ban

The Notorious Mark Karpeles Lands a C-Level Position With a Firm That Dabbles in Cryptocurrency Investments and Runs the Largest VPN Service Worldwide

Mark Karpeles is starting a new job, and he will be working with a company that’s into technology like virtual private networks (VPN) and cryptocurrencies. Karpeles has accepted a CTO position at a firm called London Trust Media (LTM), a company that owns VPN providers such as Private Internet Access, but has also injected funds into digital currency investments such as Purse.io, Zcash, Blockexplorer, and more. The former Mt Gox founder will now work remotely for the Denver-based firm who oversees the world’s largest VPN company alongside its recent cryptocurrency investments.

Mark Karpeles Lands a Job — CTO for a Firm Associated With Cryptocurrencies
Mark Karpeles will be the CTO for London Trust Media the firm that owns the largest VPN provider worldwide and invests in cryptocurrency investments like Purse.io and Zcash.

It seems Karpeles also lives a paranoid life, where he switches apartments in Japan every few months in fear of his safety. Karpeles also is afraid to set his bag down when being interviewed by the press in Tokyo’s Shinjuku district. Karpeles is still on trial for embezzlement charges and in Japan, there is a 99 percent conviction rate. The case could still see an outcome where the former cryptocurrency exchange operator finds himself in prison.

“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 explains this week in Tokyo.

Mark Karpeles Lands a Job — CTO for a Firm Associated With Cryptocurrencies
Mark Karpeles is still on trial in Japan.

A Second Chance in This Fight’s Critical Hour

Karpeles also believes the administrators behind the Russian bitcoin exchange BTC-e and the accused Alexander Vinnik were behind a string of attacks that hit Mt Gox back in 2011. Alexander Vinnik had been arrested in Greece for being a suspect in a massive money laundering law enforcement sting, and allegedly Vinnik and BTC-e had connections with the missing Mt Gox funds. “What he did, Mt Gox is a victim of this, which means that all creditors are victims of this, and I am too a victim of this,” explains Karpeles in his recent interview. However, Vinnik has denied allegations of being tied to BTC-e, and the Russian has not yet been charged with any connections to the Mt Gox investigation.

Karpeles’ new C-level position for a firm that dabbles in cryptocurrency investments also follows his recent statements on a Reddit Ask-Me-Anything (AMA) about not wanting to receive the possible billion-dollar bankruptcy settlement that he could inherit. Moreover, even though Karpeles accepted a job as the CTO at London Trust Media he recently explained he wants very little to do with the cryptocurrency industry.  

“The only thing I’m touching related to cryptocurrency is how to solve this bankruptcy — Nothing more,” Karpeles states.

Bitcoin right now is, I believe, doomed.

The company London Trust Media is pleased to welcome the former Mt Gox CEO onboard as the firm’s new CTO. Andrew Lee, the co-founder, and chairman of London Trust Media explains he looks forward to helping Karpeles move forward. “I am more than willing to give a second chance to Mark in this fight’s critical hour,” Lee notes.

What do you think about Mark Karpeles working for London Trust Media and still being associated with the cryptocurrency industry? Let us know your thoughts on this story in the comments below.


Images via Pixabay, London Trust Media, AP, and Getty. 


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The post Mt Gox CEO Mark Karpeles Lands New Job — CTO for Cryptocurrency Firm appeared first on Bitcoin News.

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PR: After the First Blockchain Transaction in US, Real Estate Marketplace Propy Announces a New Developer Program

April 20, 2018 |

Real Estate Marketplace Propy Announces a New Developer Program

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

California-based blockchain startup Propy, is bringing the commercial use of blockchain technology to the US. After facilitating the first US Blockchain-based real estate deed in Vermont, Propy announced a new open source Developer Program.

The idea behind Propy: it allows anyone to buy or sell real estate, anywhere, online. Propy provides an efficient crypto and fiat payment and an immutable record on the blockchain, ensuring that title deeds and property rights will be there forever.

In March 2018, the San Francisco based firm completed its very first government-sanctioned use of blockchain for a public service in the US. That is, in fact, their second global achievement, after the first ever purchase of property using blockchain in Kiev, Ukraine, back in September 2017.

Propy Platform consists of three systems, two of which are powered by Ethereum smart contracts and require PRO tokens. To further develop the Decentralized Registry, Propy is announcing a Developer Program – designed to encourage blockchain developers and researchers to build efficient solutions for the real estate market, on top of Propy’s registry. The first phase of the program will be: localizations for the Title Registry, a Blockchain Property Explorer, and “Title Mining”. In a recent blog post, Propy describes how the Title Mining protocol will allow users (Title agents, lawyers, notaries, and real estate professionals) to “mine” title history — which means that they will digitize title records and store them on blockchain, a critical measure for those locations where the records are vulnerable to political regimes, corruptions, and hacking.

In the US real estate buyers lose over $ 900m annually in real estate fraud and pay more than $ 10bn for title insurance due to inefficient property data access. Propy aims to increase efficiency and security in the public sector.

“We’re ready to help US counties and other countries set up the blockchain registry for free. The developer program helps us accelerate the platform’s growth and ultimately give more governments the chance to integrate their land registry on Blockchain” expressed Propy’s CTO, Alex Voloshyn.

Participants in the Developer Program will receive multiple benefits and grants in PRO. The first whitelisted group of developers will receive a grant, that will be announced on Propy’s telegram channel: https://t.me/propy

About Propy

Propy is a global real estate store with a decentralized title registry. Propy aims to solve the problems facing international real estate transactions by creating a novel unified property payment solution and asset transfer platform on blockchain.

Contact Email Address
su.panya@prhacker.com
Supporting Link
https://t.me/propy

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. 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 content, goods or services mentioned in the press release.

The post PR: After the First Blockchain Transaction in US, Real Estate Marketplace Propy Announces a New Developer Program appeared first on Bitcoin News.

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Bitcoin in Brief Friday: Truths, T-Shirts, Things That Matter

April 20, 2018 |

Bitcoin in Brief Friday: Truths, T-Shirts, Things That Matter

In today’s Bitcoin in Brief we are focusing on some truths that have been uttered recently in regards to the latest attempt by authorities in New York to cross borders, when it comes to crypto controls and regulations. Also, crypto T-shirts, inspired by digital aesthetics, have been put on sale. Do you want to know why their design is a bit old-fashioned? Crypto markets are to blame…

Also read: Bitcoin in Brief Thursday: ICO Scares Investors with Ghost Prank

Speaking from Crypto Perspective

Bitcoin in Brief Friday: Truths, T-Shirts, Things That MatterKraken CEO, Jesse Powell, has been praised for saying what many in the crypto community have been thinking about the latest actions by authorities in New York. The state’s Attorney General, Eric Schneiderman, has sent letters to 13 crypto exchanges as part of his inquiry into policies and practices employed by the trading platforms. “Consumers have the right to transparency and accountability when they invest,” Schneiderman said, adding that many cryptocurrency traders do not have access to the “basic facts” needed to assess the integrity and security of these platforms.

Bitcoin in Brief Friday: Truths, T-Shirts, Things That Matter
Eric Schneiderman

Not complying with Schneiderman’s probe, Jesse Powell has refused to send complete the questionnaire, opt instead to respond with strong-worded language. “Kraken’s BitLicense prompted exit from New York in 2015 pays another dividend today. When I saw this 34-point demand, I immediately thought ‘The audacity of these guys – the entitlement, the disrespect for our business, our time! […] I realized that we made the right decision to get the hell out of New York,” he said in a Twitter post. Kraken’s chief executive was referring to the controversial licensing regime for crypto companies in the state.

Thanks for the Ethical Stance!

In his post, Powell also said that his company would be happy to help government understand the business, but “this is not the way to go about it.” “When is it going to be enough for New York? We did all this once already, and then you gave us the BitLicense […] This ‘questionnaire’ we received today proves that New York is not only hostile to crypto, it is hostile to business,” he stated. “Somebody has to say what everybody’s actually thinking about the NYAG’s inquiry. The placative kowtowing toward this kind of abuse sends the message that it’s ok. It’s not ok. It’s insulting,” Kraken CEO tweeted.

Bitcoin in Brief Friday: Truths, T-Shirts, Things That MatterPowell’s comments received support from colleagues and members of the whole community. “Jesse – thank you for taking the ethical stance and speaking up for what’s right”, Shapeshift CEO Erik Voorhees wrote on Twitter. “Crypto has brought more transparency to finance and protection to consumers than the last 100 years of bureaucratic nonsense that has spilled from the sewers of New York,” he said.

From Crypto Truths to Crypto T-shirts

A “Crypto T-shirt” is now available from The Hundreds. As they say, it’s “inspired by digital aesthetics and iconography, featuring graphic flips on cryptocurrency logos, services, and sites”. The T-shirts can be ordered online. They take cryptos for the limited edition. You can buy yours with any of the following digital coins: Bitcoin, Bitcoin Cash, Litecoin, and Ethereum. However, keep in mind that it’s available for purchase only through a Coinbase account.

Bitcoin in Brief Friday: Truths, T-Shirts, Things That MatterAccording to the product’s description, the back print is a Bitcoin flip, rendered in wire frame, and with the RGB color spectrum used in the representation of images in electronic systems. The graphs refer to the rise and fall of the mentioned cryptocurrencies. The currently available designs on the T-shirt, however, depict a drastic drop. The message is a bit outdated, as it doesn’t represent what we are currently witnessing in the markets. Bitcoin is now trading well over $ 8,000 USD, while Bitcoin Cash just crossed the $ 1,000 dollar mark.

Exciting Things Happening With  Brave Browser

Privacy web browser Brave Software and Dow Jones Media Group have just announced a partnership through which the companies aim to test blockchain technology in digital publishing, among other exciting plans. Under the agreement, Brave will provide access to premium content from Dow Jones to a limited number of users who download the Brave browser. The available content set features full access to Barrons.com or a premium MarketWatch newsletter.

Bitcoin in Brief Friday: Truths, T-Shirts, Things That MatterThe companies intend to experiment with blockchain-based technologies in media and advertising. A number of innovative solutions in the news and information space will be tested. Content will be delivered via Brave’s blockchain-based digital advertising and services platform. Under the agreement, Barron’s and MarketWatch, both Dow Jones Media brands, will become verified publishers on the Basic Attention Token (BAT) platform, developed by Brave.

Do you think Kraken CEO Jesse Powell did the right thing refusing to comply with NYAG’s inquiry? Share your thoughts on the subject in the comments section below.


Images courtesy of Shutterstock, Brookings.


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The Bitcoin BCH Block Explorer Explodes With Blockchain Data

April 20, 2018 |

The Bitcoin BCH Block Explorer Explodes With Blockchain Data

Bitcoin.com is a web portal loaded with resources tethered to the heart of the cryptocurrency revolution. Just recently we launched our new blockchain explorer which allows anyone to verify transactions and other data tied to the Bitcoin blockchain. We want to give our readers a little more insight on this awesome tool.

Also Read: Indian Exchange Takes Central Bank to Court Over Bank Ban

Check Out the Bitcoin BCH Block Explorer

A blockchain explorer is a neat tool that acts like a search engine for the BCH network and other public blockchains. These explorers search addresses, balances, block history, and transactions so network users can verify every action taking place on the blockchain. There are many situations where you may want to search some data on Bitcoin.com’s Bitcoin BCH Block Explorer. For instance, say you sent a large amount of BCH to a friend and you want to make sure the individual got the funds. Our explorer will find the transaction by using a sending or receiving address, or a  transaction ID number.

The Bitcoin BCH Block Explorer Explodes With Blockchain Data
Search an address, transaction, or block with the Bitcoin BCH Block Explorer in a variety of currencies, Cash address functionality, and multiple languages.

The Bitcoin BCH Block Explorer shows users the latest transactions that have been broadcast and processed to the BCH chain, and users can further investigate mined blocks, inputs, outputs, and a transaction’s byte size. Further with the May 15th Bitcoin Cash hard fork approaching, the BCH Block Explorer will be very useful when searching for scripts, and OP codes. Our explorer users can already see messages that have been posted on the platform Memo, a social media feed that utilizes the BCH network to display content. In the future, this writing functionality will be introduced to the Bitcoin.com Wallet

The Bitcoin BCH Block Explorer Explodes With Blockchain Data
The latest blocks and transactions taking place on the bitcoin cash chain is updated in real-time.

Explorers Are Important Tools for This Emerging Economy

Additionally, the blockchain browser features a Cash address switch which can toggle between legacy BCH addresses and the new BCH address implementation. The BCH Block Explorer also can be viewed in six language settings including Japanese, English, Chinese, Swedish, Indian, and Korean. Important data included in a search will show transaction size and the number of confirmations.

The Bitcoin BCH Block Explorer Explodes With Blockchain Data
Bitcoin.com’s BCH Block Explorer shows written Memo transactions.

Moreover, the platform also presents the total value of a transaction or block including network fees and fees per byte. Alongside this block or transaction values can be read in formats such as the USD, AUD, RUB, INR, JPY, CNY, and more. Users can even share the block explorer link across an array of social media platforms. 

It’s safe to say Bitcoin.com has got you covered when it comes to resources surrounding the bitcoin ecosystem. In addition to our awesome block explorer, we have a BCH-centric store, an uncensored forum, a high-stakes casino, a mining pool, a newsdesk, and real-time price statistics and charts to get a better visualization of this emerging economy. The Bitcoin BCH Block Explorer is just another addition to our wide variety of tools and resources offered here at Bitcoin.com, and things are just getting started.

Have you tried our Bitcoin BCH Block Explorer? Let us know what you think in the comments below. 


Images via Shutterstock, Bitcoin.com, and the Bitcoin BCH Block Explorer


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Bitcoin Cash Smashes Through $1,000 USD

April 20, 2018 |

Bitcoin Cash Smashes Through $  1,000 USD

Bitcoin cash (BCH) is now trading at $ 1,000 USD, returning the price to levels not seen since late March of this year. Analysts have attributed the spike to after-tax-season liquidity, strong volume, and a passionate and active community supporting the project.

Also read: Bitcoin Cash Gains Advance 4% Above BTC

Bitcoin Cash Smashes Through $ 1,000

The price of Bitcoin Cash has rallied to test levels above $ 1,000 for the first time since March. The move comprises a gain of more than 60% when measuring from early April’s low of approximately $ 610.

Days ago, CNBC’s Brian Kelly, of the popular financial news program Fast Money, made his case for an all out buy of exactly one cryptocurrency, Bitcoin Cash. Describing his recommendation as “a bit controversial,” Mr. Kelly stood before a monitor to better flesh out his reasoning.

He acknowledged how bitcoin core and Bitcoin Cash often trade together, following one another up and down. He described BCH as being in the Monty Python Zone. Famously, its skits often portrayed characters who simply refused to give up even when it was obvious to everyone else they should. “Bitcoin Cash has been left for dead,” Mr. Kelly insisted. “It’s gotten absolutely crushed, so maybe it’s mostly dead but it’s not dead yet!”

Bitcoin Cash Smashes to $  1,000 USD

Whilst many traders recoiled in fear as the cryptocurrency crash of 2018 drove down prices, smart money was waiting waiting on the sidelines for cheap prices on high performing markets. After watching BCH plummet by roughly 75% during the early months of 2018, many large buyers evidently began to accumulate. “We’ve got a potential breakout coming. We’ve got increasing volume,” Mr. Kelly hurriedly explained.

“Look at where we are on the charts,” he insisted, pointing to a mountainous graph. He urged that the price of 790 USD for the decentralized currency, at the time, was moving from a support indicator to an all out resistance level. In the shorter term he showed how BCH volumes were spiking, indicating “something might be changing here.” Asked about the broader controversies about which was the real bitcoin, core or cash, Mr. Kelly said he prefers the bottom line: buy low, sell high. He also said in his trading he hadn’t seen problems with liquidity, and that he’d be “buying the dip” on recent FUD news such as the New York Attorney General querying crypto exchanges.

Bitcoin Cash Fills a Vacuum 

Bitcoin Cash started to rumble Wednesday, the 17th, when it gained more than 10% in 24 hours – placing it among the top performing markets. In the days following, BCH continued to gain momentum, gaining a further 26% between April 18th and April 20th. 

Analysts said a combination of factors influenced its overall breakout. One was the US taxpayer season coming to an end even after its Internal Revenue Service allowed an extra day due to computer problems. Many in the ecosystem believed the incredible gains of last year triggered a capital gains tax like never before, and a great many US enthusiasts were selling off their holdings to pay.

Bitcoin Cash Smashes to $  1,000 USD

And while gurus such as Tom Lee of Fundstrat predicted after the tax season bitcoin core (BTC) prices would increase, it appears BCH is taking that to heart. Both BTC and ethereum were up as well, but still in single digits as of this writing.

For BCH proponents, its eventual rise in price isn’t that much of a shock. They maintain Bitcoin Cash’s miniscule transaction fees, super quick confirmations, and steady network make it an obvious choice for both average investors and for businesses. In fact, as bitcoin core has seen a drop in businesses accepting it, this could be the right opportunity for BCH to fill that vacuum.

Are you bullish on Bitcoin Cash? Let us know in the comments below.


Images via Shutterstock.


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