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Jamaica Stock Exchange Plans to Offer Cryptocurrency Trading

August 14, 2018 |

Jamaica Stock Exchange Plans to Offer Cryptocurrency Trading

The Jamaica Stock Exchange (JSE) has announced it plans to allow investors the ability to trade cryptocurrencies through the regulated stock exchange. According to the JSE, the Canadian-based Blockstation will help facilitate the crypto-trading services.

Also read: Malta Tops Exchange-Based Crypto Trade, Russia Leads in OTC Volume

Jamaica Stock Exchange Plans to Facilitate Crypto-Asset Trades in 2018

Jamaica Stock Exchange Plans to Offer Cryptocurrency TradingThe Jamaica Stock Exchange is interested in offering its clientele the ability to invest in digital assets. The JSE announced on Tuesday that the organization is partnering with the company Blockstation by signing a memorandum of understanding (MoU). The MoU states the two firms will enable JSE customers the ability to trade blockchain tokens within a secure and regulatory framework. JSE says that Blockstation’s network is well suited for managing digital currency trades, and the clearing and settlement of blockchain tokens.

Satisfying Considerable Investor Interest in Digital Assets

The two organizations believe the agreement will be a milestone as it could become the first international stock exchanges that will allow cryptocurrency trades. At the moment only digital currency futures, options, and exchange-traded notes are traded in a regulated stock exchange type of environment. JSE has been working with Blockstation by completing tests and hosting a successful live workshop with brokerage members and local regulators.

“We are excited to implement this service with our clients, satisfying considerable investor interest in digital assets. We are also proud to be at the forefront of bringing innovation to capital markets,” explains Marlene Street Forrest, the Managing Director of the JSE.

We are very comfortable moving forward based on the training and support provided by Blockstation, and because their trading platform incorporates familiar compliance rules to ensure a fair marketplace.

Jamaica Stock Exchange Plans to Offer Cryptocurrency Trading

The Importance of Offering Digital Assets Through Regulated Financial Institutions

Since the JSE launched its principal stock exchange in Kingston, Jamaica the organization has seen a lot of development. To accommodate growth the JSE launched its online trading platform in 2015, which at the time was the first of its kind within the Caribbean, enabling clients to view market performance, and buy and sell securities. A broker member of the JSE from the firm Sagicor Investments, Kirk Brown, says the JSE decision to offer digital currency trading is paramount for the growth of this budding tech-driven economy.         

“It is very important for investors to be able to invest in digital assets through their traditional financial institutions,” Brown emphasizes.

It’s exciting to be at the cutting edge where digital currency demand meets safe reliable access.

What do you think about the Jamaica Stock Exchange planning to offer digital currency trading services? Let us know your thoughts on this subject in the comment section below.


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The post Jamaica Stock Exchange Plans to Offer Cryptocurrency Trading appeared first on Bitcoin News.

Bitcoin News

ICO Regulations Round-Up: Fundraising Law, Jeju Island, Self-Directed IRAs

August 14, 2018 |

ICO Regulations Round-Up: Fundraising Law, Jeju Island, Self-Directed IRAs

In recent news pertaining to initial coin offerings (ICO) regulations, an EU report has advocated the regulation of ICOs according to crowdfunding legislation, the governor of Korea’s Jeju Island wants his jurisdiction to become a special economic zone regarding cryptocurrencies and blockchain, and the U.S. SEC has warned consumers regarding the risks of self-directed Individual Retirement Accounts that offer exposure to ICOs and cryptocurrencies.

Also Read: Markets Update: Bloody Crypto-Markets Suffer More Losses

EU Report Advocates Incorporating ICOs into Fundraising Laws

ICO Regulations Round-Up: Fundraising Law, Jeju Island, Self-Directed IRAsThe European Parliament’s Committee on Economic and Monetary Affairs has published a draft report proposing that initial coin offerings become regulated under crowdfunding legislation.

The report states: “This Regulation gives the opportunity to ICOs that want to prove their legitimacy to comply with the requirements of this regulation. Whilst this regulation may not provide the solution for regulating the ICO market, it takes a much-needed step towards imposing standards and protections in place for what is an excellent funding stream for tech start-ups. […] Crowdfunding service providers that wish to offer an ICO through their platform, should comply with specific additional requirements under this Regulation. However, private placements, ICOs raising in excess of 8,000,000 [euros] or ICOs that do not use a counterparty do not fall within the scope of those requirements.”

The report asserted that “at present initial coin offerings are operating in an unregulated space and consumers are at risk from fraudulent activity taking place in this market,” emphasizing that the regulation of ICOs would provide greater protection to investors.

Jeju Island Governor Seeks to Build ICO Hub

ICO Regulations Round-Up: Fundraising Law, Jeju Island, Self-Directed IRAsWon Hee-Ryong, the governor of Jeju Island, the largest island located off the coast of the Korean Peninsula, has requested that South Korea’s central government designate the island as a special economic zone for cryptocurrency and distributed ledger technology. The governor met with a number of policymakers and other high-ranking government officials on Wednesday, according to local media.

“Blockchain is an opportunity for Korea to take the lead in global internet platform [development], […] Blockchain can cut costs, provide stable transactions and essentially has the potential to become a game changer that could alter the ecosystem of the internet platform industry,” Won said. “For Korea to become a leader rather than a consumer of this new global industry, we need to quickly allow [the operation of] blockchain and cryptocurrency [firms].”

Emphasizing the need for a permissive stance regarding initial coin offerings, governor Won stated: “Entrepreneurs looking to innovate should be allowed to raise funds through cryptocurrency.”

SEC Warns of Self-Directed IRAs and ICOs

The United States Securities and Exchange Commission’s Office of Investor Education and Advocacy (OIEA) has published a report that seeks to warn investors of the potential “risks associated with self-directed Individual Retirement Accounts (self-directed IRAs)” in which initial coin offerings and cryptocurrencies are highlighted.

The report states that “Certain self-directed IRAs allow investment in so-called “digital assets,” which include crypto-currencies, coins, and tokens, such as those offered in so-called initial coin offerings (ICOs),” asserting that “Fraudsters may use the allure associated with ICOs and other digital assets to entice self-directed IRA investors with the promise of high returns. While it is possible that digital assets may provide fair and lawful investment opportunities, they may also be conducted without SEC registration or a valid exemption from registration, and may not provide complete or accurate information to aid investors in making informed decisions.“

Lori Schock, the director of the SEC’s OIEA, stated: “Now that some self-directed IRAs include digital assets — cryptocurrencies, coins and tokens, such as those offered in so-called initial coin offerings — we think it is important to alert investors about the potential risks and fraud involved with these kinds of investments that may not be registered.”

Do you think ICOs should be governed by crowdfunding legislation? Share your thoughts in the comments section below!


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At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

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PR: Keynote Launches $6 Million Diversity and Inclusion Fund for the Global Blockchain Industry

August 14, 2018 |

Keynote Launches $  6 Million Diversity and Inclusion Fund for the Global Blockchain Industry

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.

Keynote Launches a new fund to support diversity and inclusion in the development and use of blockchain technology.

Keynote​ is thrilled to launch a new $ 6 million Fund to support diversity and inclusion in the blockchain industry. The fund exists to ensure everyone has the opportunity to play an active role in the development and evolution of blockchain and opportunities to work and develop in blockchain are open to all regardless of age, disability, gender identity or gender expression, race, ethnicity, religion or belief, sex, sexual orientation or any other equality characteristic.

This year, Keynote are particularly encouraging applications to speak, volunteer and attend the World Blockchain Forum London from young people, women and people and people with disabilities as these groups are currently under-represented in the blockchain industry. These opportunities are aimed at those who will benefit most from this opportunity and who might not otherwise have the opportunity to develop their careers and knowledge within the industry. Applications to speak, volunteer or attend will be accepted on a rolling basis and will close on Friday 17 August 2018.

Keynote’s founder and CEO, Moe Levin, commented:
Digital currencies and blockchain, are intended to be democratizing and equalising and it’s really important the industry is representative of the population across globe. Diversity is the basis for collective achievement, and we therefore need more people to join the blockchain conversation. The range of perspectives and experience diversity brings is an asset to the blockchain industry.”

Over the last six years Keynote has invested $ 3 million into the education of young people in blockchain in marginalized and underserved populations. This Fund will now enable Keynote to continue and extend its support to ensure the blockchain industry is inviting perspectives from a diverse range of people from across the globe to activate new ideas, conversations and educative experiences

Keynote Chief of Communications, Amandah Hendricks says:
“It’s important to understand this fund exists not only to both support diversity in blockchain technologies, it’s also about bringing more people into the general cryptocurrency conversations. Awareness and good communication are key to a more diverse and inclusive environment and this will be a big focus at this year’s World Blockchain Forum in London. We are looking to support new and fresh perspectives and give a voice to everyone.”

The $ 6 million Fund will be officially launched at this year’s World Blockchain Forum held in the heart of London at the Old Billingsgate. Tickets are available at: ​london.keynote.ae/tickets​ and a full list of confirmed speakers and the agenda can be found​ ​here​.

For expressions of interest, please contact Amandah Hendricks, Chief of Communications, at amandah@keynote.ae​. Applications will be accepted on a rolling basis and will close on Friday 17 August 2018.
If you would like to be a part of facilitating global change via blockchain education through a ​partnership with us, please contact Amy Issersohn, Chief Strategy Officer, at amy@keynote.ae.

About Keynote

Keynote was launched in 2012 by blockchain strategist Moe Levin. Further information and details about Keynote and the event can be found at:​ ​london.keynote.ae

The World Blockchain Forum is the world’s largest two-day blockchain conference and will feature a star-studded lineup of over 100 world class presenters including a special fireside chat with influencers who have been part of some of the largest ICOs to date. The focus is on blockchain technology; specifically investments, successful past and future icos within the industry, legal implications and regulations, and how decentralization is disrupting the banking industry.

For media inquiries, please contact Amandah Hendricks Chief of Communications, at
amandah@keynote.ae

Supporting Link
https://london.keynote.ae

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.

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Bitcoin News

Markets Update: Bloody Crypto-Markets Suffer More Losses

August 14, 2018 |

Markets Update: Bloody Crypto-Markets Suffer More Losses

Leading up until this Tuesday a great majority of cryptocurrency markets have lost considerable value over the past few days. Since our last markets update this past Saturday, the overall cryptocurrency capitalization as a whole has dropped significantly by losing $ 20 billion USD. All eyes will surely be fixed on digital asset charts this week as there’s been a plague of bearish market sentiment cast over the entire crypto-economy.

Also read: Coingeek Speaks on Consensus Changes and Next-Gen ASIC Chip 

There’s Blood in the Crypto-Streets

When it comes to cryptocurrency markets today on August 14, there’s an awful lot of ‘blood in the streets.’ During yesterday’s trading sessions, the entire cryptocurrency economy dropped under the sub-$ 200B zone and today the valuation is hovering around $ 195-199B. This is due to the extreme losses many digital currencies have suffered through over the past three days. A great majority of coins are seeing losses between 3-25 percent today as many assets have touched their previous bottoms or lower. Overall trade volume this Tuesday has increased, likely because prices are so low right now, and over the last 24-hours around $ 15.9B cryptocurrencies have been traded.

Markets Update: Bloody Crypto-Markets Suffer More Losses
The top ten digital assets today on August 14, 2018, at 10 am EDT.

Bitcoin core (BTC) has been able to dodge a lot of the downward blows as the currency has lost a lot less percentage wise than most other coins. This has led to BTC dominance or its market capitalization measured in comparison with the entire crypto-economy valuation to spike upwards of over 54 percent. Out of the top ten digital assets, cardano (ADA) has taken the biggest blow and has sunk to the 8th highest position because it lost over 16.8 percent in value over the last 24-hours. The price of ADA has dipped to around $ 0.09 per coin at the time of publication.

Markets Update: Bloody Crypto-Markets Suffer More Losses
Out of the top ten digital assets, cardano (ADA) has lost the most over the last 48-hours.

This is followed by the second biggest top ten loss with ethereum (ETH) seeing its market value lose 16.1 percent today with one ETH trading for $ 268. The third largest top ten loss today belongs to EOS as its markets are down 13.7 percent with one EOS trading for $ 4.44 per coin.

Bitcoin Core Market Action

Bitcoin core markets are down 3.94 percent today, and the cryptocurrency has been fighting to hold above $ 6,050-$ 6,175 per coin over the last day. Last night the BTC/USD price dropped to $ 5,880 coming awfully close to the currency’s assumed bottom at $ 5,774. Today BTC trade volume over the last day has been fairly decent at $ 5.5B and the currency’s entire market valuation is about $ 106B at press time.

Markets Update: Bloody Crypto-Markets Suffer More Losses

The top five exchanges swapping the most BTC includes Bitflyer, Okex, Bitfinex, Binance, and Coinbene. The trading pairs seeing the most swaps today with BTC includes tether (USDT 50.2%), USD (26.5%), JPY (11.3%), EUR (4.7%), KRW (2.4%) and bitcoin cash (BCH 1.88%).

Markets Update: Bloody Crypto-Markets Suffer More Losses
BTC/USD 4-H, August 14, 2018, 10 am EDT Coinbase.

Bitcoin Cash (BCH) Market Action

Bitcoin cash markets have seen a 24-hour loss of around 15 percent today and the currency’s market capitalization is around $ 8.5B. At the moment bitcoin cash is trying to stay above $ 490-515 at the time of writing but bulls have been struggling. Last night BCH dipped to a low of $ 472 on Bitstamp, but trade volume had spiked over $ 400M+ pushing the price back up after the drop.

Markets Update: Bloody Crypto-Markets Suffer More Losses

The five leading bitcoin cash exchanges today include Coinex, Okex, Binance, Hitbtc, and Bitfinex. The currencies that are currently being traded with bitcoin cash the most includes tether (USDT 49.1%), BTC (27%), USD (13.1%), QC (2.83%), ETH (2.79%), and the KRW (1.88%).

Markets Update: Bloody Crypto-Markets Suffer More Losses
BCH/USD 4-H, August 14, 2018, 10 am EDT Bitfinex.

The Verdict: Volatile Markets and Heavy Losses Increase Uncertainty

Digital asset markets have been wild over the past few weeks and many traders seem uncertain about where the ‘good-ship-crypto’ will go from here. 2017 was an exceptional year and the past seven months of 2018 has been literally the exact opposite as far as cryptocurrency values are concerned. The cryptocurrency economy as a whole has lost considerable value which in turn is brewing deep skepticism towards the future of certain crypto-markets. For now, most traders remain uncertain of where things will go and many are praying they played their positions correctly in hopes they don’t get squeezed. At the moment digital asset prices are starting to see a slight recovery after the significant losses last night. 

Where do you see the price of BTC, BCH and other coins headed from here? Let us know in the comment 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.”


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Bitcoin News

Firm Behind Japanese Cryptocurrency ‘Spindle’ to Relocate to London Amid Investigation

August 14, 2018 |

The Japanese cryptocurrency Spindle, known for being promoted by the Japanese popular singer, actor and talent Gakuto Oshiro (45), aka GACKT, has announced it’s withdrawing from Tokyo to relocate its headquarters in London, amidst rumors that the Tokyo Metropolitan Police is investigating unregistered sales of cryptocurrencies made by the company.

Also read: J-Pop Star GACKT Caught Between Crypto Company Spindle and Minister’s Gaffe

Japan Unsuitable for Crypto Business

GACKT told news.Bitcoin.com in an interview online that there is a considerable disparity in Japan compared to overseas in regard to crypto, explaining, “Black Star&Co. decided to move to London, where it originally started, because [in Japan] it takes a tremendous amount of time for various procedures to take place. [They decided] it would not be suitable for a cryptocurrency business, which essentially needs to be speedy, to remain in such an environment.”

Japanese Cryptocurrency Spindle to Relocate in London Amid Investigation
GACKT

Black Star&Co, the developer company behind Spindle, said it will withdraw from Tokyo to take up an office in London from August 15th, where it shall be known as Black Star Capital Ltd (UK). The company was earlier involved in a scandal that shook the Japanese Minister of Internal Affairs and Communications, Seiko Noda, accused by Japanese media of exercising pressure on a government investigation into a crypto exchange company.

In January 2018, Noda’s secretary and aide allegedly invited an agent of the Financial Service Agency (FSA) and a representative of the cryptocurrency exchange operator to her parliamentary office to ask general questions. As a cabinet minister, Noda was accused of exerting pressure on an official government investigation.

On July 19th, it was reported that the company tied to Spindle and GACKT was suspected by the FSA of violating the fund settlement law and that it had been slapped with a warning in mid-January 2018. The company, which began dealing its own cryptocurrency, Spindle, aka GACKT Coins in October 2017, received administrative guidance from the FSA in February 2018 to discontinue selling cryptocurrencies.

Japanese Cryptocurrency Spindle to Relocate in London Amid Investigation

However, the spindle (SPD) altcoin, which was listed on five foreign crypto exchanges in May, was pre-sold with one coin priced at 30 yen ($ 0.27 US), but the value later lowered to less than 0.4 yen ($ 0.0036 US). Investors who believed in GACKT, the promoter of Spindle, and purchased the coins made a significant loss. Moreover, GACKT and his allies sold immediately after the coin was listed, and made a lot money from doing so, news.livedoor.com reported. It was also reported that the Tokyo Metropolitan Police Cyber Crime Unit has been extremely attentive to such opaque transactions.

Spindle Investors Will Be Upset

In a press release, the company announced that it is moving its head office from Tokyo to London because it has more partners familiar with the technology and design in Europe and in the U.S. “We wish to keep in close contact with them,” the company said in the press release. “Given Japan’s current stance on [crypto] regulation and financial investments, it is difficult to expand further our business [here],” the company said in a statement. An individual involved in IT business told the Japanese press that Spindle had hired GACKT as a ‘publicity man’ in order to target Japanese people in general, including his fans. “If [GACKT] plans to move away from Japan now, many people will be really upset. Many will take this as he’s running away just before the authorities approach them,” the man told news.livedoor.com. The company also stated its intention to change its personnel related to project advisory.

“Japanese people are extremely dependent on statutory currencies issued by the country and the nation’s administration also has a low understanding of cryptocurrency itself,” GACKT told news.Bitcoin.com, “it is actually safer for investors to put Spindle in an infrastructure management where it can expand, grow and thrive,” he concluded.

What do you think of Spindle moving out of Japan as the police is reportedly investigating its earlier sales of spindle coins? Share your thoughts in the comments section below.


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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 Satoshi’s Pulse, another original and free service from Bitcoin.com.

 

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Bitcoin News

Reports: India’s Crypto Regulations Delayed, Government Considers ‘Crypto Tokens’

August 14, 2018 |

Reports: India's Crypto Regulations Delayed, Government Considers ‘Crypto Tokens’

The Indian government previously planned to submit the proposal for crypto regulations in July. However, a senior official has revealed that the regulatory framework for cryptocurrencies in India has been delayed and will likely be ready by the year’s end. Meanwhile, the government is reportedly considering “launching crypto tokens for financial transactions.”

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Indian Regulations Delayed

Reports: India's Crypto Regulations Delayed, Government Considers ‘Crypto Tokens’
Subhash Chandra Garg.

The Indian government has been working on cryptocurrency regulations. A panel was set up in December last year under Subhash Chandra Garg, secretary in the department of economic affairs, to propose crypto regulations in India. The proposal was supposed to be ready in July and the regulations unveiled in September.

However, Quartz reported on Sunday, August 12, that a senior government official familiar with the panel’s discussions indicated that “now that ‘looks difficult’.”

The publication wrote, “India’s cryptocurrency regulations will likely come by end of 2018,” adding:

A finance ministry panel is still evaluating how to treat blockchain and cryptocurrencies separately.

The official explained to the publication that “there are lots of issues that need understanding and lots of studying needs to be done.”

The news outlet elaborated, “the key issue facing the panel is if regulations can be drawn up to push the use of blockchain independently” and quoted the official describing:

Blockchain is an interesting thing. We definitely want to milk it effectively for financial transactions. So all officials are really trying hard to understand how to separately use blockchain, without cryptocurrency…And understanding a new software takes time.

Indian Government’s ‘Crypto Tokens’

Reports: India's Crypto Regulations Delayed, Government Considers ‘Crypto Tokens’ On Friday, August 10, DNA India reported that the Indian government “is considering launching crypto tokens for financial transactions in the country, even as the existing ban on cryptocurrencies is likely to continue.”

While “crypto tokens are based on blockchain application,” the news outlet described that unlike cryptocurrencies, a “crypto token is a representation of money. It can’t be used in place of fiat money.”

The panel headed by Garg is also “studying the possibility of using various crypto assets, including cryptocurrency,” a senior official in the finance ministry explained and was quoted saying:

The committee is examining if crypto tokens can be used to replace smart cards such as metro cards in the public sector to start with. Similarly, in the private sector, it can be used in loyalty programmes such as air miles where its use is limited to buying the next ticket and can’t be converted into money.

While admitting that the new technology has a lot of promise, the publication noted that “Garg categorically denied allowing [the] use of cryptocurrency in any manner including in payment systems.”

When do you think India will finally come up with crypto regulations? What do you think of the government considering launching crypto tokens? Let us know in the comments section below.


Images courtesy of Shutterstock and the Indian government.


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PR: GaxCoin ICO Launches Private Sale

August 14, 2018 |

GaxCoin ICO Launches Private Sale

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.

We are pleased to announce the start of the sale of GaxCoin. The launch of our Initial Coin Offering is scheduled for 11 August 2018; a fundamental date for all those who wish to contribute to our Startup Blockchain project, to the creation of the Platform and its innovative and completely autonomous Ecosystem, which continues to be developed and which has its cardinal points in stability, simplicity and reliability.

According to an important popular report by specialized research company, the growth of ICO system has a huge potential totalizing, for the current year, contributions equal to 1.66 billion dollars with 480 ICO launched. The rhythm is still increasing and the results are surprising.

GaxWorld, thanks its architecture, boasts some characteristics that are making our fundraising unique: the project foresees that 40% of the funds will remain in provision and spent for the compensation of the Providers of the various services. The elegance of this technology, the security and confidence it can boast of, greatly increases expectations.

GAX World will be built around the ICO of GaxCoin: four industries to which billions of dollars are dedicated every day in the world. The relevant markets are in continuous expansion and are of global interest: Travel and Holidays, E-learning, Betting & Casinò and Work & Freelance and a very rich innovative Crypto Marketplace will complete the package!

Thanks to our Main Sponsor totowinbet.com, the ICO launch has been possible and GaxClub has already started the development of all the Platforms in collaboration with the technical experts of the best known online gaming structure in Malta.

In the first phase of our Private Sale, GaxCoin ICO will formalize the promised commitment through a pool of Private Investors, which commit to invest more than USD 6 millions in our ICO and therefore enable the global development of the milestones mentioned in our Whitepaper. Immediately after the private sale, four important steps have been planned, ready to be offered to contributors in the next months: the initial contributors will have up to a 50% bonus on subscription!

The solidity and relevant success of our ICO, in addition to the confirmed funds that will be deposited during the Private Sale and an amazing sponsor like TotoWinBet, is guaranteed by a team of Professionals working for most of the group’s operating companies in Malta, Italy and Bulgaria. They are already working together to develop the most complete platforms in the industry.

An innovative and decentralized system allowing people around the world to book business & leisure travels, to learn with the best online E-learning facilities, to hire the most successful Freelancers in the world for your IT, Marketing Consulting and Translation needs, and an easy access global Marketplace. A Blockchain based Gaming & Betting Platform will complete the package offering fun and enjoyment at gaming tables and sports bets!

For those who want to invest in online casino gaming, we have developed a White Label Bet & Casino, platform ready to use. Everyone can choose a personal name and logo and start an online business in the entertainment sector ! Easy, ready and cheap! A real complete gaming platform ready to be personalized and branded, managed by experienced GaxCoin developers and available for the equivalent of just a few dollars.

Join our incredible Project now or subscribe to the Whitelist to get 5% Bonus Extra guaranteed during all ICO steps!

Or Join private contributors in the Private Sale step with Custom Bonus!!

Press Contact Email Address
info@make-ico.com

Supporting Link
http://www.gaxcoin.com

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.

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Bitcoin News

Japan’s Internet Giant GMO Unveils New Crypto Priorities, Exchange Profits Up 7-Fold

August 14, 2018 |

Japan's Internet Giant GMO Unveils New Crypto Priorities, Exchange Profits Up 7-Fold

Japan’s GMO Internet has unveiled new priorities for its cryptocurrency business along with the performances of its crypto exchange and mining operations. The changes going forward result from the bear market and increased total hash rate.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

GMO Coin Profits Up 7.3-Fold

Japan's Internet Giant GMO Unveils New Crypto Priorities, Exchange Profits Up 7-FoldJapanese internet giant GMO published its second-quarter results for this fiscal year on Thursday. The report details the performances of the company’s cryptocurrency operations as well as changes in future plans.

In the second quarter, GMO’s overall crypto business generated a “revenue of JPY 2.6B [~US$ 23,481,811] in just a year since the launch,” the report reads. It also generated operating profits of 250 million yen (~$ 2,257,744) in the quarter compared to a loss of 730 million yen (~$ 6,592,612) the previous quarter.

For GMO Coin, the company’s crypto exchange operation, its “revenue increased 7.3-fold” in the second quarter compared to the previous. Its Q2 net sales were 1.42 billion yen (~$ 12,824,623) with operating profits of 550 million yen (~$ 4,967,283). In the first quarter, the subsidiary made a loss of 760 million yen (~$ 6,863,883).

Japan's Internet Giant GMO Unveils New Crypto Priorities, Exchange Profits Up 7-Fold

Furthermore, GMO revealed that its crypto exchange’s “customer accounts are growing steadily,” with about 177,000 accounts opened in one year.

Mining Revenues Up 92%, Unexpected Loss Incurred

GMO’s crypto mining business generated 1.17 billion yen (~$ 10,568,436) in revenue in the second quarter, up 91.8% from the previous quarter. While “our hash rate is increasing as expected,” the company made an overall loss of 360 million yen (~$ 3,252,429).

Noting that the “loss was against our expectation,” the company proceeded to change its mining business policy. In July, GMO mined 568 BTC, a slight increase from the previous month of 528 BTC. However, the hash rate in July was 384 PH/s, unchanged from the previous month.

Japan's Internet Giant GMO Unveils New Crypto Priorities, Exchange Profits Up 7-Fold

Citing external, “uncontrollable factors,” namely the low price of bitcoin and the increasing total hash rate, GMO detailed a change of priorities.

Previously, the company’s top priority was to mine cryptocurrencies in-house, then to offer cloud mining services to the public before selling mining machines. The new strategy puts selling the machines first, then mining in-house before offering their cloud mining services. The company will also “secure a more inexpensive power supply” to lower electricity costs for mining.

Japan's Internet Giant GMO Unveils New Crypto Priorities, Exchange Profits Up 7-Fold

GMO hopes that the change in strategy will lead to more control over their investments and an earlier payback. Meanwhile, the company still plans to ship GMO miners B2 and B3 at the end of October.

What do you think of GMO’s new priorities and performances of the crypto exchange and mining operations? Let us know in the comments section below.


Images courtesy of Shutterstock and GMO Internet.


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Bitcoin News

Venezuela’s Constituent Assembly Drafts Law to Create Central Bank for Crypto

August 14, 2018 |

Venezuela's Constituent Assembly Drafts Law to Create Central Bank for Crypto

A member of the Venezuelan National Constituent Assembly has reportedly revealed that the assembly is preparing a reform to the country’s Constitution that includes a central bank for cryptocurrencies. This follows the Venezuelan government’s latest effort to tie the new bolivar currency to the petro.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Central Bank for Cryptocurrencies

Hermann Escarra, a member of Venezuela’s National Constituent Assembly, has revealed the assembly’s plan for cryptocurrencies in an interview with Reuters in Caracas on Thursday. He divulged:

The National Constituent Assembly of Venezuela…is preparing a reform to the Constitution that would include a central bank for crypto-assets and a superior court to the Supreme Court of Justice.

Reiterating that the central bank for crypto will be incorporated, he elaborated, “There will be the central bank with its functions in exchange, monetary and financial policy.” He also emphasized that, as part of the reform, “a court will be created that will be above the supreme court.”

Venezuela's Constituent Assembly Drafts Law to Create Central Bank for Crypto
Hermann Escarra in an interview with Reuters. Photo credit: Reuters.

Escarra, described by Reuters as “one of the most influential members of the assembly that prepares the changes to the 1999 constitution,” said that “the draft changes to the Constitution will be presented in 35 days to the board of the Constituent Assembly.”

In May last year, Maduro called for a constituent assembly to draft a new Venezuela Constitution to replace the 1999 Constitution of his predecessor, Hugo Chávez. The Constituent Assembly elections were held on July 30 last year. However, “The assembly was controversial from the start, with opposition activists denouncing it as unconstitutional while its supporters argued it would bring peace to the polarised South American nation,” the BBC detailed.

Escarra further elaborated:

The reform is expected to include the petro, a cryptocurrency announced by the government of President Nicolás Maduro in February as a way to increase its foreign exchange earnings, in the midst of the economic crisis and the sanctions imposed by the United States.

Venezuela’s ‘Crypto’ Efforts

Earlier this year, the Venezuelan government launched a digital currency called the petro which Maduro claimed to be a cryptocurrency backed by the country’s oil reserves.

Venezuela's Constituent Assembly Drafts Law to Create Central Bank for CryptoHowever, the petro is met with much controversy since all claims regarding this digital currency, including how much money it has raised, are not backed by any proof. In addition, “Cryptocurrency experts have said the petro suffers from a lack of credibility because of a lack of confidence in Maduro’s government and the mismanagement of the country’s existing national currency,” Reuters described.

In June, the Maduro government dismissed the country’s Superintendent of Cryptocurrencies, Carlos Vargas, who was in charge of promoting and selling the petro. He was replaced by Joselit Ramírez. Economist Víctor Álvare told El Nacional publication that “The measure is due to the fact that Superintendent Carlos Vargas failed to sell the cryptocurrency.” He detailed:

The measure is a revelation that the objectives, goals and expectations of obtaining 5 billion dollars from the petro were not met, a matter that practically disappeared from the official discourse.

On July 25, Maduro announced that the country’s new currency, the Sovereign Bolivar (Bolivar Soberano), will be linked to the petro. The new bolivar is scheduled to be released on August 20, as news.Bitcoin.com previously reported.

What do you think of Venezuela’s Constituent Assembly drafting law to create the central bank for cryptocurrencies? Let us know in the comments section below.


Images courtesy of Shutterstock and Reuters.


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Bitcoin is a Permissionless, Decentralized Firearm: Cody Wilson is Satoshi Nakamoto

August 14, 2018 |

Bitcoin is a Permissionless, Decentralized Firearm: Cody Wilson is Satoshi Nakamoto

The path to a cryptocurrency revolution might just run through a sleepy Austin, Texas industrial park, home to offices of Cody Wilson and his company, Defense Distributed in the United States. Parallels exist between downloadable files from a website, allowing users access to 3D printable firearms, and a permissionless, decentralized, censorship-resistant medium of exchange. If the world’s most powerful government succeeds in preventing Mr. Wilson from engaging in basic speech, hold on to your electronic wallet because it could be next.  

Also read: Report: 15,000 Twitter Crypto Scam Giveaway Bots

You Are Responsible Enough to Read Unapproved White Papers and Controversial Firearm Schematics

The fate of cryptocurrency’s future could very well rest in the hands of a 30-year-old former law school student who has been called The Most Dangerous Man in the World by Wired magazine. No one could have foreseen this, of course, least of whom Satoshi Nakamoto when he delivered his white paper, Bitcoin: A Peer-to-Peer Electronic Cash System not quite a decade ago.

In it, the pseudonymous author went about detailing technical aspects of a trustless digital cash system with a decentralized audit log, a database conferring immutability for transaction recordings. The history is well known by most Bitcoiners, and today an entire universe of variations on that Bitcoin theme have sprouted.

Bitcoin is a Permissionless, Decentralized Firearm: Cody Wilson is Satoshi Nakamoto

They’ve done that because, for the most part, a healthy portion of the world has access to critical information regarding cryptocurrencies. And it is a universe unto itself: initial coin offerings, alternative coin projects, tokenizing, blockchain technology, speculation, exchanges, crypto loan products, etc. The list is virtually endless. What is in store for decentralized, digital money is in large measure up to how governments react.

A sizeable number of enthusiasts will suggest there is no scenario by which crypto can be completely snuffed out. This is true as far as we understand at the moment. It is always dangerous to underestimate the power of government, however. A few twists and legal turns here, a few draconian laws there, and, yes, even Bitcoin could be stifled, albeit not killed outright – the genie is surely too far from the bottle now for Bitcoin to be snuffed out.

Cody Rutledge Wilson is Satoshi Nakamoto

Governments have every incentive to make life hard for Bitcoiners, even if such policies seem largely benign at the start. If cryptos gain adoption on a massive scale, it is not inconceivable that crackdowns could begin. In the United States this will happen under the pretext and ruse of its legal system. The media, always looking to be law enforcement’s lapdog, may dutifully portray those who dabble in crypto as criminals or worse. It’s not difficult to see this already happening in pockets of the US.

All it will take is precedent, a legal prosecution upholding the idea some thoughts are too dangerous to allow digitally. If said thoughts are too contrary to government whim, and courts agree, applying a vague standard of censorship, it could have major ramifications for cryptocurrency adoption.

Bitcoin is a Permissionless, Decentralized Firearm: Cody Wilson is Satoshi Nakamoto

That standard already has one puzzle piece: Ross Ulbricht and Silk Road. Mr. Ulbricht, when all was said and done, was convicted for operating a website where illegal goods and services exchanged. He was given two life sentences, and without the possibility of parole. Have a website where people engage with it and wind up doing something illegal, and the publisher/owner is on the hook for legal consequences.

Enter Cody Rutledge Wilson, the notorious cryptoanarchist in Austin, Texas who shocked the world five years ago when he squeezed off the first shot from a printed plastic 3D mold. At the time, Mr. Wilson was considered a nuisance, an attention-seeker whose weapon, The Liberator, was thought to be irresponsible at most. Just as quickly, however, the US Department of State sought jurisdiction over Mr. Wilson’s project.

Cody Rutledge Wilson is Julian Assange

The bureau sent a cease and desist order to Mr. Wilson and his nascent company, Defense Distributed. The letter briefly explained hosting downloadable 3D gun files would be in violation of an international arms act. Mr. Wilson immediately cooperated, taking down CAD files which by that time had been downloaded some 100,000 times.

He was subsequently interviewed by authorities, and sent on his way as an ideological crank. He has never been arrested. He has never been charged with a crime. After waiting years for clarification on the substance of the State Department letter, Mr. Wilson lawyered up and went proactive. He sued the federal government on two grounds: First Amendment speech and Second Amendment right to keep and bear arms.

Bitcoin is a Permissionless, Decentralized Firearm: Cody Wilson is Satoshi Nakamoto

In the United States, the first ten amendments to its constitution are known as the Bill of Rights. They were a compromise to get the constitution ratified back in the late 18th century, assuring skeptical states the federal government would be kept in check on critical issues. The First Amendment begins “Congress shall make no law ….” No law. Not one. Not three because three is a small number. Not a few because, gosh, things are bad. No. Law. Essentially five basic freedoms flow from it: religion, speech, press, assembly, petition. Speech was considered so central to the US founding it was among the first freedoms congress (lawmakers) were prevented from abridging. No. Law.

The Second Amendment is particular to the US in that it has been interpreted to mean a citizen has the right to own firearms, something most governments are loath to admit. More mainstream groups over the years have attempted to champion gun sports and hunting as viable reasons to have such access, but let us no longer mince words: the Second Amendment exists to enable citizens to shoot corrupt government officials. Governments might have overwhelming armaments and technology, but resistance to tyranny has been won with far less. Gun control simply means persons in government costumes with guns will stop others from possessing certain firearms, and, if successful in this case, even so much as reading about them.

Freedom.Bitcoin.com

On August 1st of this year, Mr. Wilson again published firearm files on the Defense Distributed website. He was able to do that because after agonizing legal arguments and court battles, the federal government knew they would ultimately lose on the merits. So they did the next best thing, considering. They struck a deal with Mr. Wilson. He would be able to host those files. Almost immediately, states’ Attorneys General filed injunctions, once again, to have the files removed. Mr. Wilson complied, even after having a formal agreement in place. It appears each state, or most of the 50, will come after Mr. Wilson one at a time, attempting to ruin him financially. They want Cody Wilson to give up and go away.  

There will be many attempts to manipulate this issue, many ways to frame it for the broader public and opportunistic politicians. It is beyond understandable to be wary of guns, to associate them with vicious forms of violence. A lot of Bitcoiners are enthusiasts because crypto is such a peaceful pursuit. To read decentralized money is on par with decentralized firearm access could be unsettling at first. And readers might need time to chew on the idea before coming fully onboard. Perhaps as readers are reminded by the hectoring of friends, family, government officials, “Why do you need cryptocurrency? We already have digital money backed by the country! Why do you get to be your own bank? Shouldn’t banks have the right to know what you’re doing with that money? Everyone should pay their fair share in taxes, including cryptocurrency users!” they’ll begin to see how ominously close digital assets are to digital firearm files.

Bitcoin is a Permissionless, Decentralized Firearm: Cody Wilson is Satoshi Nakamoto

No need to become a raging gun nut. No need to even own a gun. The key principle is no person should have the power to take that choice away from someone else. And, yes, Bitcoin.com is a business, and we’re working night and day to bring about more economic freedom to the world through bitcoin cash. Our corporate mission is to also work toward a less coercive, more voluntaryist community.

Censorship is particularly odious because it robs people of thought, new ideas, inquiry, the science of innovation. We believe you’re smart enough, good enough to handle reading a firearm blueprint should you be so inclined. So should everyone else. We believe you’re smart enough, good enough to handle being your own bank, deciding with whom you wish to trade. So should everyone else.

OP-ed disclaimer: This is an Op-ed article. The opinions expressed in this article are the author’s own. Bitcoin.com does not endorse nor support views, opinions or conclusions drawn in this post. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the Op-ed article. Readers should do their own due diligence before taking any actions related to the content. 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 information in this Op-ed article.

Do you think it’s important to support projects like Defense Distributed? Let us know in the comments section below. 


Images via Pixabay.


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