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BCH Devs Lock in Code for the Chain’s Next Upgrade: Schnorr and Segwit Recovery

February 20, 2019 |

BCH Devs Lock in Code for the Chain’s Next Upgrade — Schnorr and Segwit Recovery

On Feb. 14, a group of Bitcoin Cash (BCH) developers sat down and discussed the featured items for the scheduled upgrade this coming May. According to the programmers, two specific features will be ready for the upgrade: Schnorr signatures and Segwit recovery. The developers also detailed that certain features like nullfail and the 100-byte transaction size will not be ready for the May hard fork.

Also read: Cryptocurrency Can Now Be Purchased at 10,000 French Tobacco Shops

Two New Features Make the Cut for the Upcoming Bitcoin Cash Hard Fork

On Valentine’s Day, cryptocurrency developers Mark Lundeberg, Antony Zegers, Amaury Séchet, Jason B. Cox, Andrea Suisani, and Matias Garcia discussed the upcoming May upgrade with the meeting’s host David Allen. The fourth meeting was published to Youtube so BCH participants can listen in on what’s going on with development. At the moment the developers say that two improvements are ready for the May upgrade while a few others will have to wait until the next fork.

“Schnorr signatures and Segwit recovery will be ready for the May upgrade,” the video explains. “Other items such as nullfail, minimal data push, and amending the 100-byte transaction size limit will not be ready for this upgrade.”

BCH Devs Lock in Code for the Chain’s Next Upgrade: Schnorr and Segwit Recovery

The team of developers also discussed the testing and planning for the upgrades prior to the hard fork commitment. Examples include setting up a common source for shared information, deciding on common parameters, the concept of a persistent node with mining pool, and other test plans.

“There are a number of items that we had looked at over the last few months that were in consideration for the May hard fork — So far it looks like only a couple of the upgrade features will make it, like Schnorr,” explains developer Jason B. Cox. “That [feature] is looking pretty good so far and it’s gotten a lot of code review. There’s the Segwit recovery which I believe is also going to make it.”

“Yeah I don’t think there are going to be any more items added, but Schnorr has like one patch to go to make it work,” Bitcoin ABC’s lead developer Amaury Séchet replied to Cox.

Mark Lundeberg further explained the Segwit recovery feature, seeing how it wasn’t discussed during the last meeting and not many people know what it is, in comparison with the Schnorr feature. Lundeberg detailed that there is a specifications page up now up at the Bitcoin Cash repository which explains and shows the code to the Segwit recovery concept. Essentially, when BCH is sent to a Segwit address it can no longer be accepted on the BCH chain due to the clean stack rule. Lundeberg explains this feature will make Segwit addresses exempt from the clean stack rule and the coins will be recoverable.

BCH Devs Lock in Code for the Chain’s Next Upgrade: Schnorr and Segwit Recovery

Schnorr Likely to Be Added to the Bitcoin Cash Chain First

At the moment, the two new features are “frozen” into the BCH protocol so developers can begin experimenting on the testnet. Overall, the BCH programmers seem confident in the two featured upgrades for May and it seems Schnorr signatures may be implemented on BCH well before BTC developers get to it. However, Bitcoin Core developers are currently in the midst of working on Schnorr signatures as well and Blockstream just published a new standard for multi-signature transactions called MU-Sig. The protocol purportedly helps bolster the Schnorr implementation. In fact, Core developer Greg Maxwell boasted about the new MU-Sig protocol on the r/btc forum and made some dubious claims.

“Sounds like Bitcoin ABC is rushing ahead to deploy our signature scheme proposal (bip-schnorr),” Maxwell stated.

However, many BCH supporters didn’t care for Maxwell’s trolling commentary and explained that he and Blockstream developers “did not invent the Schnorr concept.” Mark Lundeberg said that he was aware of the MU-Sig protocol and explained that “BCH can use this too — it’s something purely on the wallet side; the nodes continue to verify the Schnorr Signatures the exact same way regardless.”

Overall, BCH enthusiasts on Reddit and social media seem positive about the upcoming upgrades and many supporters wholeheartedly believe that Schnorr will be implemented before the BTC camp plans to upgrade.

What do you think about the two features locked in for the scheduled BCH hard fork this May? Let us know what you think about this subject in the comments section below.


Image credits: Shutterstock, Youtube, and Bitcoin.com 


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The post BCH Devs Lock in Code for the Chain’s Next Upgrade: Schnorr and Segwit Recovery appeared first on Bitcoin News.

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Survey Ranks South Africa Top for Cryptocurrency Ownership

February 19, 2019 |

Survey Ranks South Africa Top for Crypto Ownership

South Africa has been ranked as the top country for ownership of cryptocurrency, according to a global survey by social media management company Hootsuite and global agency Wearesocial. The survey found that 10.7 percent of internet users in the country own cryptocurrency. Thailand is second, with 9.9 percent of mobile users owning cryptocurrency and Indonesia third with 9.5 percent, while the global average was 5.5 percent.

Also read: Drug Dealer Fights to Prevent Canadian Police From Forfeiting his BTC

Africa Steadily Embraces Cryptocurrency

The Global Digital Report 2019 also placed other sub-Saharan African countries such as Ghana and Kenya within the top 45 nations in the world where a large number of people owned cryptocurrency such as bitcoin. The results were based on the survey of internet users aged between 16 to 64 years during the six months to September 2018.

The survey confirms that Africa has embraced the digital currency revolution. A growing number of people on the continent are utilizing cryptocurrency to fulfill both personal financial needs and entrepreneurial ventures such as transferring goods, services and money internationally and domestically.

Survey Ranks South Africa Top for Cryptocurrency Ownership

There is also an emerging generation of Africans buying virtual currencies as investment vehicles, while a relatively small number of Africans trade digital currencies speculatively for profit.

In, 2018, Paxful Inc., a peer-to-peer bitcoin exchange, reported seeing significant growth in Africa. The U.S.-based company said Africans now accounted for the largest number of people buying and selling cryptocurrency on its platform, with average monthly transactions totaling $ 64.5 million.

Over the past year, users from the African continent of 1.2 billion people soared by 225 percent, Ray Youssef, chief executive officer of Paxful, said. Transactions on the exchange climbed 60 percent in Nigeria, Africa’s biggest economy, 25 percent in South Africa, the continent’s most sophisticated economy, and by up to 100 percent in other parts of Africa.

South Africa Consults on Crypto Regulation

The top ranking for South African cryptocurrency ownership comes at a time when monetary authorities in the country have asked the public to make submissions on policy and regulatory proposals for crypto assets like bitcoin. There is currently no regulation for cryptocurrencies in South Africa, a situation which has prompted the South African Reserve Bank (SARB) to come up with measures that provide legal protection or recourse to investors and users.

Survey Ranks South Africa Top for Cryptocurrency Ownership

Whereas the rest of the South African financial system is tightly regulated to prevent issues of market failure, the crypto market isn’t, SARB said. In its policy paper, the central bank makes several proposals including leaving crypto-assets without legal tender status, so as not to recognize them as electronic money.

The document also recommends that an appropriate regulatory framework be developed through a registration process for crypto-asset service providers. It also proposes a review of existing regulatory frameworks followed by new regulatory requirements or amendments to existing regulations.

“The phased approach, starting with the registration requirement, could lead to formal authorization and designation as a registered/licensed provider for crypto asset services operating in South Africa at a later stage,” states the central bank.

What do you think about growing cryptocurrency ownership in Africa? Let us know in the comments section below.


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The post Survey Ranks South Africa Top for Cryptocurrency Ownership appeared first on Bitcoin News.

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Bank of Spain Report: Bitcoin Is a Solution for a System Without Censorship

February 19, 2019 |

Bank of Spain Report: Bitcoin Is a Solution for the Creation of a System Without Censorship

A recent report published by the Bank of Spain states that Bitcoin is a solution for the creation of a system without censorship. This is in contrast to public comments made by most central bankers who are prone to attack cryptocurrency with little insight into why it is needed.   

Also Read: Survey: ‘Blockchain’ Was Most Overrated Buzzword of 2018

Explaining Peer-to-Peer Electronic Cash to Bankers

Banco de España, Spain’s central bank and supervisor of the Spanish banking system, recently published a report aiming to explain how Bitcoin works. The document details the functions of the cryptocurrency, as well as analyzing its strengths and weaknesses from the point of view of the established financial order. It also explains that the best way to understand the aims of the new system is by consulting the original Bitcoin whitepaper written by Satoshi Nakamoto.

Bank of Spain Report: Bitcoin Is a Solution for a System Without Censorship

The report mentions that according to Nakamoto the world needs “an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.” Thus the goal is to create an electronic payment system similar to cash which allows remote payments without the need for the intermediation of institutions such as banks. This is meant to enable truly irreversible payments and reduce intermediation costs.

A System Without Censorship

The report concludes that cryptocurrency was envisioned as a payments system without the possibility of transaction censorship or a central authority with the power to authorize or reject transactions. It states that “bitcoin is an imaginative and elegant solution to this problem” of “the creation of a system without censorship.” However the central bank’s report also determines that traditional payment systems do not seek to resolve this problem and therefore cryptocurrency is not an alternative to them.

Bank of Spain Report: Bitcoin Is a Solution for a System Without Censorship

In line with the common position usually expressed by central bankers, the report ends by saying: “Taking into account that for most agents the existence of trusted intermediaries is not a problem, along with the costs and inefficiencies generated when an attempt is made to eliminate these intermediaries, it does not seem that bitcoin, as it currently stands, is going to have a significant impact for the financial sector as an alternative payment system to the traditional channels.”

What do you think about the conclusions of this report? 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 Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post Bank of Spain Report: Bitcoin Is a Solution for a System Without Censorship appeared first on Bitcoin News.

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Cryptocurrency Can Now Be Purchased at 10,000 French Tobacco Shops

February 19, 2019 |

A partnership between French company Digycode and national point of sale (POS) provider Ingenico has gone live, making it possible to buy cryptocurrencies offline at 10,000 tobacco shops in France – just under half of the total number of licensed tabacs in the country. BTC, ETH, LTC, XRP, and DASH are currently available, with BCH and XMR scheduled for sale in the near future.

Also read: Bitcoin Goes on Sale in 24 French Tobacco Stores

Significantly Expanding Customer Reach

Digycode, a subsidiary of Toulouse-based parent company Digital Service, has not seen much reseller traction for its crypto services since its launch in August 2017, with only 30 POS spread across the country by the latter half of 2018. Not that this has impacted profits: Digital Service CEO Christopher Villegas reports that the Digycode product, previously in the form of prepaid cards, brought in revenue to the value of €1 million ($ 1.1 million) serving over 20,000 customers.

Their hitherto limited reach is now set to change thanks to a triage partnership agreement with payment solutions firm Ingenico and numerous tobacco outlets dotted all over the nation. Ingenico has POS terminals in 10,000 shops spread out across the country, significantly broadening Digycode’s end-customer reach. In effect, this gives Digycode access to a 42% market capture of the 24,000 licensed tobacco shops open for business.

Cryptocurrency Can Now Be Purchased at 10,000 French Tobacco Shops
Buyers can pinpoint their closest participating tabac crypto seller on the Digycode website

A Packet of Smokes and Some Bitcoin, S’il Vous Plait

In France, tabacs, as tobacco outlets are commonly known, sell more than just nicotine. They also offer national lottery tickets, resell mobile recharge vouchers, act as utility bill payment points, and have a selection of newspapers and magazines up for grabs. Thus, in customer’s minds, it’s a one-stop-shop for miscellaneous on-the-go transactions.

The service, which went live on Feb. 11 2019, is available at all tabacs equipped with Devlyx cash registers – a brand particularly popular with tobacconists and newsagents. Thanks to this agreement, consumers can now turn cryptocurrency investors as easily as lighting a cigarette.

Shoppers can purchase vouchers to the value of €20 ($ 23), €50 ($ 57), or €200 ($ 226), and convert them for the crypto of their choice on the Digycode website, where they’ll be added to the user’s wallet. On the menu is bitcoin core (BTC), ethereum (ETH), litecoin (LTC), ripple (XRP), and DASH.

Better Benefits, Higher Fees?

According to Villegas, the hefty 8 percent service fee will be offset by the value-added benefits that differentiates this service offering from online purchasing platforms, including privacy concerns with sharing bank details online, scam concerns on unrecognized platforms, and “devirtualization” of digital currency by bringing it into the real world.

The company is no stranger to the world of virtual currency. Digital Service has been active in the country’s crypto space since 2014. In 2016, it launched bitcoin purchasing platform Zebitcoin and extended its service offering in 2018 with the launch of Zebitex, the first euro-crypto exchange in France.

Regulators’ Stance

In November 2018, overeager reporting by French radio station Europe1 stated that the Federation of Tobacconists had obtained authorization to act as cryptocurrency point of sales. Both the Federation and the Banque de France, the country’s central Bank, were quick to clarify that no such agreement had been reached.

Instead, what was being referred to was a commercial agreement between POS-terminal supplier Bimedia and bitcoin platform Keplerk. The partnership would enable tabacs to provide coupon sales for the Keplerk platform, a service that came into effect in January 2019.

Cryptocurrency Can Now Be Purchased at 10,000 French Tobacco Shops
The French have been able to start the new year with an interesting new addition to their daily tabac shopping options

French regulators continue to maintain the position that cryptocurrencies, as speculative assets, should not be deemed currency, and has issued several warnings to lay investors that partaking in such investments are done at their own risk. Since cryptocurrency sales are legal tender, authorities have no bearing on such transactions.

Small Steps Lead to Giant Leaps

Similar to Zebitcoin, Digycode requires KYC. The initial onboarding process, therefore, isn’t quite as plug-and-play as tabac clientèle will be accustomed. Seeing a “Bitcoin sold here” sign at the corner store is also not akin to lining up to buy it. On the other hand, with cryptocurrency continuing to gain traction and the Yellow Vest movement burning banknotes, it could very well be a case of “build it and they will come.”

While the availability of cryptocurrency at convenience shops is a way off from actively fostering adoption, awareness and availability are crucial first steps.

Digital Service CTO Pierre-Guy Bareges explained to news.Bitcoin.com:

We strive to democratize access to cryptocurrencies for the general public by making local availability and simplicity at the core of our product. Prior to Digycode, buying cryptos in cash was a cumbersome experience especially if you happened to live in small towns or rural areas.

He divulged that they’re planning expansion to other European countries and French territories abroad, as well as the addition of other cryptocurrencies like bitcoin cash (BCH) and monero (XMR).

With this move, Villegas’ grand vision that “anyone [in France] will be able to buy bitcoins for less than 10 kilometers from home” could become a reality.

What are your thoughts on French tabacs starting to sell cryptocurrency? Let us know in the comments section.


Images courtesy of Shutterstock and Digycode.


Need to calculate your bitcoin holdings? Check our tools section.

The post Cryptocurrency Can Now Be Purchased at 10,000 French Tobacco Shops appeared first on Bitcoin News.

Bitcoin News

Coinbase Acquires Cryptocurrency Surveillance Company Neutrino

February 19, 2019 |

Coinbase Acquires Cryptocurrency Surveillance Company Neutrino

Coinbase has acquired the cryptocurrency surveillance company Neutrino, whose team will be joining the American exchange’s European operation. The Milan, Italy-based startup develops blockchain intelligence platforms for crypto companies as well as law enforcement agencies.

Also Read: Survey: ‘Blockchain’ Was Most Overrated Buzzword of 2018

Coinbase Acquires Neutrino

Coinbase, the San Francisco-based cryptocurrency exchange, announced on Feb. 19 that it has acquired Neutrino, which it described as a blockchain intelligence platform. The team of blockchain engineering and security experts will join the exchange’s workforce, and Neutrino will continue to operate as a standalone business based out of Coinbase’s London office.

Coinbase Acquires Cryptocurrency Surveillance Company Neutrino

“Blockchain intelligence is increasingly important in the crypto ecosystem, and is necessary to achieve our mission of bringing the open financial system to the world,” stated Varun Srinivasan, Engineering Director at Coinbase. “By analyzing data on public blockchains, Neutrino will help us prevent theft of funds from people’s accounts, investigate ransomware attacks, and identify bad actors. It will also help us bring more cryptocurrencies and features to more people while helping ensure compliance with local laws and regulations. Neutrino’s technology is the best we’ve encountered in this space, and it will play an important role in legitimizing crypto, making it safer and more accessible for people all over the world.”

Intelligence Platform for Law Enforcement Agencies

Neutrino was founded in 2016 by a team of cyber security specialists with over 30 years of experience in the field of technology exploitation and intelligence gathering. The company offers a platform specifically developed for companies operating in the cryptocurrency ecosystem. It promises to enhance AML/KYC checks and procedures by setting up customized “red flags” that involve checking the origin of incoming funds, verifying suspicious spending behaviors and more.

Coinbase Acquires Cryptocurrency Surveillance Company Neutrino

Neutrino has also developed a platform specifically for law enforcement agencies, built for criminal investigations and intelligence gathering. It allows investigators to follow the flow of specific coins and their interaction with exchanges, mixers and other services as well as to spot people buying and selling goods on darknet markets, how much they spent, what they bought and from whom. Supported cryptocurrencies it analyzes include BTC, LTC, ETH, BCH and USDT, with more promised to be coming soon.

What do you think about this acquisition of Neutrino by Coinbase? 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 Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post Coinbase Acquires Cryptocurrency Surveillance Company Neutrino appeared first on Bitcoin News.

Bitcoin News

Markets Update: BTC Tests $4,000, BCH and ETH Test $150

February 19, 2019 |

Markets Update: BTC Tests $  4,000, BCH and ETH Test $  150

The cryptocurrency markets have produced several days of bullish price action, with BTC testing resistance near $ 4,000 for the time in five weeks today. In doing so, it’s broken the 100-day moving average for the first time in 272 days. In other market action, both BCH and ETH rallied to test resistance near $ 150, and EOS spiked to again rank as the fourth largest cryptocurrency by market capitalization.

Also Read: Another ‘Satoshi’ Steps Out of the Woodwork, Calls Craig Wright a Liar

BTC Tests $ 4,000 for First Time in 5 Weeks

The cryptocurrency markets made a second bullish leg-up today, with only two of the top 50 crypto assets by market cap posting a drop in price during the last 24 hours as of this writing.

BTC rallied to test resistance at the $ 4,000 area today, marking the first time that BTC has entered $ 4k territory since Jan. 10. Today’s gains were also driven by a slight uptick in volume when compared to yesterday.

Markets Update: BTC Tests $  4,000, BCH and ETH Test $  150
BTC/USD – Bitfinex – 1D

In the last two weeks, BTC has gained approximately 16.25% since bouncing off local support at approximately $ 3,350 to currently trade for approximately $ 4,000 on Bitfinex and $ 3,900 on Bitstamp. BTC now has a market cap of $ 68.91 billion and a dominance of 51.50%.

When looking at the stochastic RSI on the weekly chart, BTC is at its strongest since December 2017.

Markets Update: BTC Tests $  4,000, BCH and ETH Test $  150
BTC/USD StochRSI

BCH and ETH Test $ 150

Bitcoin cash produced the second strongest gains of the top 50 cryptocurrencies by market cap today, rallying to test $ 150 for the first time since Jan. 10.

Markets Update: BTC Tests $  4,000, BCH and ETH Test $  150
BCH/USD – Kraken – 1D

Since bouncing off support at $ 100 on Feb. 18, BCH has gained 38.5% to currently trade for nearly $ 146. When measured against BTC, BCH is currently trading for 0.0375 BTC, an 11% gain in two days. BCH is currently the sixth largest crypto asset with a capitalization of approximately $ 2.61 billion and a dominance of 1.94%.

Markets Update: BTC Tests $  4,000, BCH and ETH Test $  150
BCH/BTC – Bittrex – 1D

Ethereum is currently trading for $ 150. In the last two weeks, ETH has gained roughly 43% over the dollar after establishing support at the $ 100 area.

Markets Update: BTC Tests $  4,000, BCH and ETH Test $  150
ETH/USD – Bittrex – 1D

When measured against BTC, ETH is currently testing resistance at the major long-term price level of 0.0375. Ethereum is the second largest crypto asset with a capitalization of $ 15.53 billion and a dominance of 11.62%.

Markets Update: BTC Tests $  4,000, BCH and ETH Test $  150
ETH/BTC – Bittrex – 1D

XRP Attempts to Convert $ 0.34 Resistance Into Support

Ripple has gained 11.5% in two days, with the markets currently attempting to establish support at the recent resistance area of roughly $ 0.34.

Markets Update: BTC Tests $  4,000, BCH and ETH Test $  150
XRP/USD – Poloniex – 1D

When measured against BTC, XRP is currently trading for nearly 0.000085 BTC after gaining more than 1% in a single day for the first time during February. XRP is currently the third largest cryptocurrency with a market cap of $ 13.86 billion and a dominance of 10.37%.

Markets Update: BTC Tests $  4,000, BCH and ETH Test $  150
XRP/BTC – Bitfinex – 1D

EOS Overtakes LTC by Market Cap

Of the top 50 markets by capitalization, EOS produced the strongest gains of the day, with the price of EOS increasing 16.9% over the dollar in the last 24 hours. Over the course of the last two weeks, EOS has gained nearly 55% to currently trade for $ 3.66.

Markets Update: BTC Tests $  4,000, BCH and ETH Test $  150
EOS/USD – Bitfinex – 1D

When measured against BTC, EOS has broken above 0.0009 BTC for the time since Sep 20, 2018. Eos is currently the fourth largest cryptocurrency with a capitalization of almost $ 3.27 billion and a dominance of 2.44%.

Markets Update: BTC Tests $  4,000, BCH and ETH Test $  150
EOS/BTC – Bitfinex – 1D

Eos’ gains have seen LTC slide one rank by market cap, with LTC currently ranked fifth with a capitalization of $ 2.95 billion. Despite this, LTC is testing long-term resistance at the $ 50 area for the first time since Nov. 14, 2018.

Markets Update: BTC Tests $  4,000, BCH and ETH Test $  150
LTC/USD – Bitfinex – 1W

When measured against BTC, LTC is against testing resistance at a major long-term price area, with Litecoin currently trading for 0.012 BTC each.

Markets Update: BTC Tests $  4,000, BCH and ETH Test $  150
LTC/BTC – Bitfinex – 1W

Do you think that markets will continue to be carried by bullish momentum for the rest of the week? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Tradingview


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.”

The post Markets Update: BTC Tests $ 4,000, BCH and ETH Test $ 150 appeared first on Bitcoin News.

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In the Daily: Kucoin Rebrand, Binance DEX, The Tie Adds Trading View

February 19, 2019 |

In the Daily: Kucoin Rebrand, Binance DEX, The Tie Adds Trading View

In Tuesday’s installment of The Daily, we begin by checking in with a couple of the leading exchanges in the cryptosphere. Kucoin has unveiled a new look and a slew of new features, while Binance is poised to launch the testnet of its long-awaited DEX. We’ll finish by examining an integration between sentiment analysis service The Tie and Trading View that will allow traders to correlate markets with moods.

Also read: Indian Government Inaugurates National Crypto Forensic Lab

Kucoin 2.0 Goes Live

On Feb. 18, Kucoin underwent scheduled downtime to ready the exchange for a major overhaul. Upon the platform’s return, traders were greeted by a new login page, new wallet addresses, new trading engine, and new dashboard. To celebrate the upgrade, traders can enjoy zero fees for the next three days. In a tweet, CEO Michael Gan noted that his team was working to further improve the platform based on user feedback. Stablecoins have a dedicated section in the redesigned exchange, where they now nestle under a tab simply marked “SC.”

In the Daily: Kucoin Rebrand, Binance DEX, The Tie Adds Trading View

The new-look Kucoin supports more order types, incorporates new APIs, and has a clearer dashboard that makes it easier for users to determine their security and account verification level. Upon logging in to the exchange for the first time since the upgrade, users will be prompted to set a trading password. Other features incorporated into Kucoin 2.0 include a tiered trading fee discount program designed to increase liquidity, and the ability for users to unilaterally freeze and unfreeze their accounts.

D-Day Looms for Binance DEX

Binance’s decentralized exchange (DEX) is inching closer to its public release. Tomorrow, Feb. 20, the testnet will launch ahead of the mainnet going live. In an announcement, the exchange explained: “Infrastructure-wise, the testnet of Binance Chain will start with 11 test nodes. We will test various combinations of nodes to optimize performance. While many have asked, the number and selection criteria of mainnet nodes are yet to be decided. At this stage, we simply want to develop a best-in-class DEX as fast as possible.”

The DEX will launch with the Binance-owned Trust Wallet integrated, before adding support for third-party hardware wallets such as the Ledger Nano S. Binance coin (BNB), which will be used as a primary trading pair and to cover fees on the DEX, has surged in price in recent weeks in the build-up to the platform’s launch.

In the Daily: Kucoin Rebrand, Binance DEX, The Tie Adds Trading View

The Tie Integrates Trading View

Technical analysis and sentiment analysis have traditionally been separate disciplines that haven’t easily intersected. The former entails staring at charts, while the latter requires gauging what communities are saying or “feeling” about particular assets, before taking an educated guess as to where the market is likely to move. Sentiment analysis service The Tie has now completed Trading View integration, enabling users to overlay charts from both disciplines.

In the Daily: Kucoin Rebrand, Binance DEX, The Tie Adds Trading View

Its BTC chart, for example, shows sentiment closely correlated with price, but with some divergence over the last three days. Alongside the traditional Trading View dashboard are metrics such as sentiment, hourly sentiment, one-hour price projection and the accuracy of this prediction expressed as a percentage. “On top of the technical indicators Trading View already offers, The Tie has added the ability to chart 13 custom indicators including sentiment, NVT ratios, relative tweet volume, and more all on the same chart,” explained the platform.

What are your thoughts on the stories in today’s news roundup? Let us know in the comments section below.


Images courtesy of Shutterstock.


Need to calculate your bitcoin holdings? Check our tools section.

The post In the Daily: Kucoin Rebrand, Binance DEX, The Tie Adds Trading View appeared first on Bitcoin News.

Bitcoin News

Indian Government Inaugurates National Cryptocurrency Forensic Lab

February 19, 2019 |

Indian Government Inaugurates National Cryptocurrency Forensic Lab

The government of India has inaugurated a national cyber forensics lab which includes a cryptocurrency forensic lab to perform crypto-related analyses. Alongside this is the inauguration of the Delhi Police’s cybercrime unit which will deal with fraud involving cryptocurrencies. It is the first cybercrime awareness and detection center in the country, according to a commissioner.

Also read: Indian Blockchain Summit Draws Policy Makers to Speed up Crypto Regulation

Indian Government’s Crypto Forensic Lab

India’s Union Home Minister Rajnath Singh inaugurated a national cyber forensic lab and the Delhi Police’s cybercrime unit called the Cyber Protection Awareness and Detection Center (Cypad) on Monday, The Hindu reported.

Indian Government Inaugurates National Cryptocurrency Forensic Lab
Union Home Minister Rajnath Singh at the Cypad and national forensics lab inauguration event.

“It is the first cybercrime awareness and detection centre opened in the country,” Delhi Police Commissioner Amulya Patnaik was quoted as saying. The national cyber forensic lab includes units such as a “memory forensics lab, image enhancement lab, network forensics lab, malware forensics lab, cryptocurrency forensics lab, damaged hard disk and advanced mobile forensics lab,” the publication wrote. Noting that the new lab will help officers detect cyberfraud, he elaborated:

We are now equipped with technology to recover data from damaged hard disks, cryptocurrency analysis, malware forensic and data can be retrieved from 33,000 kinds of mobile models available in the market. Cyberexperts will train our staff.

Cypad Will Deal With Crypto Fraud

Both the Cypad and the national cyber forensic lab are located in the same complex in Dwarka’s Sector 16 C, according to The Hindu. The lab is part of the Union Home Ministry’s Indian Cyber Crime Coordination Center.

Indian Government Inaugurates National Cryptocurrency Forensic Lab

The Cypad “aims to provide cyber investigation, cyber forensics, cyber safety and security-related services to the citizens as well as to police units and agencies of Delhi,” the publication detailed. “The centre in Dwarka will provide security services to citizens, cops and other agencies to better equip the country in the fight against cybercrime.”

Minister Singh said that cybercrime is the “biggest threat to digital India,” the news outlet conveyed. He further emphasized that Cypad “will deal with cryptocurrency fraud and international tech-supported frauds,” Devdiscourse publication noted. On Sunday, The Times of India reported that the city crime branch has busted a gang allegedly involved in a crypto scam that duped investors an estimated Rs 100 crore (~$ 14 million).

What do you think of the Indian government’s crypto forensic lab? Let us know in the comments section below.


Images courtesy of Shutterstock.


Need to calculate your bitcoin holdings? Check our tools section.

The post Indian Government Inaugurates National Cryptocurrency Forensic Lab appeared first on Bitcoin News.

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Another ‘Satoshi’ Steps Out of the Woodwork, Calls Craig Wright a Liar

February 19, 2019 |

Another Satoshi Steps Out of the Woodwork Calls Craig Wright a Liar

On Feb. 8, the chief executive of Nchain, Craig Wright, wrote a blog post that purportedly described his experience of creating Bitcoin. Wright’s essay states “I was Satoshi” but throughout the story, he refuses to reveal his keys. It’s not the first time Wright has claimed to be Satoshi, but in the comment section of his blog post, another character calls him a “liar” and claims that he is in fact the real Satoshi Nakamoto.

Also Read: Bitmain Announces New 7nm Bitcoin Mining Chip With 29% More Efficiency

So Many Satoshis With Zero Proof

It is difficult to figure out why someone would claim to be Satoshi without having the smoking gun that proves they are the creator of Bitcoin. Nevertheless, there’s been a number of self-professed Satoshis, but all of them have yet to convince the greater community. Craig Wright is probably the most famous of them all but news.Bitcoin.com has reported on various individuals who wholeheartedly believe they were involved with the creation of Bitcoin.

Recently, the notorious Wright has been writing memoirs about his experience in the early days when he allegedly invented the protocol. One specific post called “Careful what you wish for…” is one of the most telling tales he’s written in a while and the post caught a lot of flak from the community. Most of the antagonism towards it was because Wright stated he was Satoshi but also declared he does not have to prove it. Wright has also been criticized for speaking negatively about Ross Ulbricht, the Silk Road, Julian Assange, and Wikileaks.

Another 'Satoshi' Steps Out of the Woodwork, Calls Craig Wright a Liar
This man believes he is Satoshi Nakamoto.

After the post was published, readers noticed another person in the essay’s comment section calling Wright a liar and claiming to be Satoshi Nakamoto.

“Liar — You, Dr. Craig Wright never had any digital key to sign, and no single proof of his claims — He could not even transact one bitcoin from my whale wallet,” explains the individual who believes he is Satoshi. “He did create an altcoin, BSV, then begged to convert bitcoin core into his crapcoin — Come on, you have nothing. You do not even know how I composed the genesis block and what I coded inside additionally.”

The commenter continues:

Yes, I do remember You, when You did try to trick me and ask me for a subkey. (Well, that was a dead end, I was warned by Hal about you.) Yes, I do remember our little IRC chat. And Your addiction to the dark world and the flattering of ego.

PGP Key 0x5EC948A1

The person also remarks by saying that when he digitally signs, he will show the world a registered, notary depot of his scientific paper (before the publication date on the internet) and the contents of the genesis block. Furthermore, the commenter left behind his Twitter handle @realsatoshin where he’s been telling people he is Satoshi for quite some time. The individual has 2,800 followers has tweeted publicly over 1,700 times. Many of the tweets declare he is the real Satoshi and explain that he will present himself in seven years. In the comment to Craig Wright, the person leaves the PGP key 0x5EC948A1 and explains that it was signed by Gavin and others in that time.

Another 'Satoshi' Steps Out of the Woodwork, Calls Craig Wright a Liar
The individual has been tweeting about being Satoshi for quite some time.

Looking at the PGP key 0x5EC948A1 shows some interesting data and fingerprints that are tied to an email address Satoshin@gmx.com and other Satoshi related email handles. There are also a few unique dates tied to the PGP key’s data like Oct. 30, 2008, the day before the white paper published, and Jan. 3, 2009 the day the genesis block was born. Another interesting aspect to the key is it shows a revocation on May 2, 2016, the exact same day Gavin Andresen’s keys were revoked by Core developer Wladimir van der Laan.

Another 'Satoshi' Steps Out of the Woodwork, Calls Craig Wright a Liar
The PGP Key 0x5EC948A1 is tethered to the email Satoshin@GMX.com and a few others. The PGP key has interesting fingerprints and dates associated with it.

On Jan. 6 the individual who believes he is Satoshi explained that he left the project for safety reasons and to protect the project. “A decentralized system needs no controllers and rulers, only the community,” he explained to his Twitter followers. The “Satoshin” character has also made numerous comments on other editorials detailing how he created the cryptocurrency and encoded his name into the chain. He also uses the name ‘nihsotas’ on Reddit and was very much involved in the discussion between the community and Gavin Andresen back in May 2016.

The Song Remains the Same: ‘Keys or GTFO’

The news also follows Craig Wright’s open letter to the U.S. Commodity Futures Trading Commission (CFTC) concerning the regulation of tokens and the Ethereum network. It seems Wright is willing to testify under oath that he was, in fact, the creator of Bitcoin.

“My name is Dr. Craig Wright and under the pseudonym of Satoshi Nakamoto I completed a project I started in 1997 that was filed with the Australian government in part under an AusIndustry project registered with the Dept. of Innovation as Blacknet,” explains the Australian native.

So far the community is hard set on only believing a person who signs Satoshi’s early keys and that goes for any self-proclaimed Bitcoin creator. “Keys or get the fuck out” is a common statement among crypto proponents, whereas so-called “easter eggs” and comments like “maybe I’ll tell you later” just doesn’t cut the mustard. The crypto community doesn’t believe the latest individual either. Even though he called Wright a liar, bitcoiners believe the new claimant is just another Wright clone fabricating tall tales, no different than the likes of Paul Bunyan.

What do you think about the individual who claims to be Satoshi and his 0x5EC948A1 PGP keys? Let us know what you think about this subject in the comments section below.


Image credits: Shutterstock, Pixabay, MIT PGP Database, and Twitter.


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Indian Police Arrest ‘Cashcoin’ Gang Accused of Scamming Millions From Investors

February 19, 2019 |

Police in India Arrest Gang Allegedly Involved in Crypto Scam After Investors Were Duped out of Millions With 'Cashcoin'

Police in Mumbai have busted a gang allegedly involved in a cryptocurrency scam that amassed an estimated 1 billion rupees (nearly $ 14 million). The gang targeted people by launching a cryptocurrency called Cashcoin and sold it to investors, promising to double their money. 

Also Read: Indian Blockchain Summit Draws Policy Makers to Speed up Crypto Regulation 

An Intention to Cheat

Four people have been arrested in relation to the scam, which saw investors swindled out of nearly $ 14 million. The Times of India reports that those arrested are Sanjay Sontakke, 44; Rajnikant Kumavat, 46; Alpesh Barodia, 32; and Kirankumar Panchsara, 38. The four suspects allegedly launched Cashcoin a year ago, with the inspector involved in the case, Sunil Jadhav, quoted as saying: “The accused held meetings in Mumbai, Surat and other parts of Gujarat, and lured people into investing their hard-earned money by promising to double it in two months.” He added:

Initially, the gang repaid a few investors to lure more people in and then defaulted. Their intention was to cheat.

The offences drawn up by the police include cheating, breach of trust, criminal conspiracy under the Indian Penal Code and sections of the Information Technology Act. The complaint was initially lodged by a resident of Surat who alleged that 10.2 million rupees ($ 145,000) were stolen from him. Police are in the process of freezing a number of bank accounts in the country as part of the investigation. The Times reports that the police are still looking for a fifth suspect, Ashok Goyal, who reportedly played a key role in the alleged scam but is on the run.

Hostile Crypto Environment

The scam shows that even in India, where the government has been slow to come up with a crypto regulatory framework and where digital assets have historically been illegal, crypto scams can be successful. The crypto climate in India is hostile – the central and state governments are continuing to crackdown on crypto businesses, while authorities have been constantly warning investors against investing in cryptocurrencies. Banks in India have even stopped servicing crypto exchanges in the country. A scam of this nature and magnitude risks leaving the public even warier of cryptocurrencies.Indian Police Arrest 'Cashcoin' Gang Accused of Scamming Millions From Investors

There is evidence, however, that cryptocurrency adoption is moving in the right direction in India. Its crypto community has been campaigning on social media for “positive regulations” and the rollback of the banking ban, and the country’s Supreme Court is due to hear the petitions against the cryptocurrency ban by the country’s central bank. These moves will hopefully ease the world’s seventh largest economy closer to accepting cryptocurrencies, for the benefit of its 1.34 billion people.

What do you think about the Cashcoin crypto scam and others of this nature?  Let us know in the comments section below.


Images courtesy of Shutterstock.


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