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Bitcoin and the Agora: Every Transaction Outside the Nexus of State Control Is a Victory

March 23, 2019 |

The cryptoconomy means many things to many people. For example, since the inception of Bitcoin in 2009, some individuals have used digital currencies as a form of agorism otherwise known as counter-economics. These people believe that using bitcoin as a tool to avoid state harassment is one of the technology’s key features with the potential to reduce the manipulation and civil abuses perpetrated by government bureaucracy.

Also read: This Short Animation Might Make You Think Twice About Taxes

Bitcoin and Agorism

Since the creation of the Bitcoin network, many libertarians have flocked to this technology. Groups of ideologists who believe in free markets, anarcho-capitalism, and the protection of property rights have all called cryptocurrencies a tool that can be weaponized against central controllers of the world’s money. Agorists, in particular, appreciate cryptocurrencies as a means to avoid state harassment and civil abuses like taxation at all costs. Because digital currencies can be used in a private manner if the user desires then people who live counter-economically can stop funding wars, the police state, corruption, and the oligarchy.

Bitcoin and the Agora: Every Transaction Outside the Nexus of State Control Is a Victory

Agorism stems from the Greek root word “agora,” which means “open markets” and the philosophy of counter-economics was first conceived by a libertarian philosopher named Samuel E Konkin III (SEK3). Konkin asserted that agorism is the ultimate strategy for living free because it involves any types of voluntary exchange, but makes sure the state is removed from the situation.

“Everyone is a resister to the extent that he survives in a society where laws control everything and give contradictory orders — All (non-coercive) human action committed in defiance of the state constitutes the counter-economy,” explains Konkin’s Agorist Primer.

Agorists partake in black markets and operate under the noses of the state in the gray area as well, which could mean avoiding taxes, dismissing the idea of permits and licenses, operating a business under the table, and circumventing regulations. Of course, using money is a big part of the ideological process as well and agorists prefer to settle exchanges by barter and trade, cash deals, and cryptocurrencies. The reason digital currencies like bitcoin are attractive to agorists is because the money is not issued by a central authority like a bank, no corporation is behind it, and most importantly it operates completely free from the state.

Bitcoin and the Agora: Every Transaction Outside the Nexus of State Control Is a Victory

Satoshi’s Bitcoin Privacy Instructions

Satoshi spoke a few times on how bitcoin will not be the “ultimate solution to political problems,” but on Nov. 7, 2008, the digital currency’s creator insisted: “We can win a major battle in the arms race and gain a new territory of freedom for several years.” Moreover, on Feb. 6, 2010, Satoshi recommended using Tor in order to add an extra layer of privacy to crypto transactions. “You could use Tor if you don’t want anyone to know you’re even using Bitcoin,” explained Nakamoto. “Bitcoin is still very new and has not been independently analysed — If you’re serious about privacy, Tor is an advisable precaution.”

On Nov. 25, 2009, Satoshi stated:

The possibility to be anonymous or pseudonymous relies on you not revealing any identifying information about yourself in connection with the bitcoin addresses you use. If you post your bitcoin address on the web, then you’re associating that address and any transactions with it with the name you posted under. If you posted under a handle that you haven’t associated with your real identity, then you’re still pseudonymous — For greater privacy, it’s best to use bitcoin addresses only once.

‘Each Transaction Makes a Difference, Strengthens the Agora’

There are many ways cryptocurrencies can be used to remove the state from consensual trades between individuals and many digital asset proponents believe this. Agorists also believe that vices are not crimes and label the drug war a crime against peaceful civilians. The founder of the Silk Road, ‘Dread Pirate Roberts’ (DPR), also believed in the anti-authoritarian stance involved with Agorism.

“Every single transaction that takes place outside the nexus of state control is a victory for those individuals taking part in the transaction,” DPR stated back in 2012. “So there are thousands of victories here each week and each one makes a difference, strengthens the agora, and weakens the state.”

Bitcoin and the Agora: Every Transaction Outside the Nexus of State Control Is a Victory

Many believe that anti-state activity tied to Bitcoin like Wikileaks and the Silk Road helped fuel the digital currency’s real-world value during the early days. Moreover, with the dozens of darknet markets and sectors such as gambling, gray and black activities are still very prevalent within the cryptocurrency ecosystem. There are some digital currency supporters begging for cryptocurrencies to be regulated and ‘defined’ by the state. However, like it or not, on the opposite side of the spectrum, many agorists are intentionally doing things with cryptocurrencies that are considered ‘bad mannered’ and ‘uncouth.’

Bitcoin and the Agora: Every Transaction Outside the Nexus of State Control Is a Victory

Agorists and those who follow a sincere libertarian ideology believe that pro-state bitcoiners lack principles and the technology’s greatest expression of intentionality have always been anti-state. As the evolution of cryptocurrency grows more people who are anti-war, anti-state, and wholeheartedly believe in a society run by free markets will continue to be attracted to this technology.

Do you want to learn more about Agorism? Check out these links below.

What do you think about the relationship between cryptocurrencies and Agorism? Let us know your thoughts on the subject in the comments section below.


Image credits: Shutterstock, Pixabay, and Twitter.


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even look up 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.

The post Bitcoin and the Agora: Every Transaction Outside the Nexus of State Control Is a Victory appeared first on Bitcoin News.

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China Favors Tron and EOS in New Crypto Ranking But Downgrades Bitcoin

March 22, 2019 |

China Favors Tron and EOS in New Crypto Ranking But Downgrades Bitcoin

China’s Center for Information and Industry Development has released its latest crypto project ranking. Tron and EOS top the list out of the 35 crypto projects evaluated while Bitcoin has been downgraded slightly. The center also evaluated the projects independently based on basic technology, applicability, and creativity.

Also read: SEC Chair Explains Key Upgrades Needed for Bitcoin ETF Approval

March Ranking

The Center for Information and Industry Development (CCID), under China’s Ministry of Industry and Information Technology, released the 11th update of its crypto project ranking report on Friday. The number of crypto projects evaluated this month was 35, unchanged from the previous month.

“The results show that the world’s three major Dapp platforms — EOS, Tron, [and] Ethereum — still rank in the top three, [and] the scores are 155.7, 146.7 and 142.8, respectively,” the center wrote. Tron debuted last month, replacing Ethereum as the second highest ranked project. EOS has been in the top spot since it started being ranked in June last year. This month, BTC ranks 15th, down two places from the previous month. BCH also fell slightly from the 27th spot to the 31st spot.

China Favors Tron and EOS in New Crypto Ranking But Downgrades Bitcoin

3 Sub-Rankings

All 35 crypto projects were also evaluated based on three sub-categories: basic technology, applicability, and creativity.

The basic technology “sub-index accounts for 64% of the total index,” the center described, noting that this category “mainly examines the technical realization level of the public chain, including function, performance, security, and decentralization.” The top projects are EOS, Tron, Bitshares, Steem, and Gxchain. “Since the Constantinople upgrade, the efficiency of the Ethereum network has improved, and the Ethereum basic technology index has also risen from the 9th [place] to the 6th,” the CCID pointed out. Nonetheless, it found that on average “the basic technology index has slightly decreased from the previous period.”

China Favors Tron and EOS in New Crypto Ranking But Downgrades Bitcoin

The applicability “sub-index accounts for 20% of the total index,” the CCID continued, adding that this category mainly evaluates “the comprehensive level of public chain support for practical applications.” The top five projects are Ethereum, NEO, Nebulas, Tron, and Ontology. Unlike the basic technology category, the center said that on average “the applicability index has increased from the previous period.”

The creativity “sub-index accounts for 16% of the total index,” and the top five projects are Bitcoin, Ethereum, EOS, Litecoin and Lisk. This category focuses on “continuous innovation in the public chain,” the CCID explained, adding that “The innovation sub-indices of Litecoin, Bytecoin, EOS, Nebulas and Hcash have increased significantly from the previous period.” However, the center concluded that overall “the average value of the innovation sub-index has declined to a certain extent compared with the previous period, indicating that the activity of global public-chain technology innovation is decreasing.”

What do you think of CCID’s latest ranking? Let us know in the comments section below.


Images courtesy of Shutterstock and the CCID.


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

The post China Favors Tron and EOS in New Crypto Ranking But Downgrades Bitcoin appeared first on Bitcoin News.

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A Privacy-Focused Bitcoin Cash P2P Exchange Is Coming to Bitcoin.com

March 21, 2019 |

A Peer-to-Peer Bitcoin Cash Exchange Dedicated to Privacy Is Coming to Bitcoin.com

Bitcoin.com is always been on a quest to promote Bitcoin adoption. Our educational resources, forums, newsdesk, and other services reflect that mission on a daily basis. Now our web portal is introducing a feature called Local Bitcoin Cash, a service that facilitates the peer-to-peer trading of local currency for bitcoin cash (BCH). The new service will be launching soon and users will be able to directly exchange BCH securely and without know-your-customer (KYC) requirements.

Also read: This Short Animation Might Make You Think Twice About Taxes

Local Bitcoin Cash

Over the last few years, cryptocurrencies have grown increasingly popular and those digital assets are far more accessible than they were in the early days. As the industry has matured, Bitcoin.com has grown into an extensive Bitcoin-themed web portal that offers a wide array of resources and services that bolster cryptocurrency accessibility. Now, Bitcoin.com is proud to announce the launch of a new service called Local Bitcoin Cash. The peer-to-peer exchange will be a great resource for the community and will advance our continued mission to promote economic freedom to everyone in the globe by introducing them to the great benefits of BCH.

A Privacy-Focused Bitcoin Cash P2P Exchange Is Coming to Bitcoin.com

The Local Bitcoin Cash trading platform will have three key ingredients that will make the exchange different to most peer-to-peer exchanges. Firstly, privacy will be of utmost importance and there will be no KYC verification required for Local Bitcoin Cash users. Secondly, the platform will provide end-to-end user side encryption; a system of communication where only users can read and decrypt their messages. Finally, just like our popular noncustodial Bitcoin.com Wallet, the peer-to-peer Local Bitcoin Cash exchange will be secure as the service never touches your funds.

A Privacy-Focused Bitcoin Cash P2P Exchange Is Coming to Bitcoin.com
Local.bitcoin.com will be launching soon and our readers at news.Bitcoin.com can get on the list to receive early bird notification when the Local Bitcoin Cash trading platform goes live.

An Exchange That Bolsters Bitcoin Cash Accessibility

The trading platform will allow users to see who’s buying and selling so that “offers” can be considered. Anyone in the world can post a bid to buy or sell BCH and all offers can be filtered by payment method, currency, location, and popularity. There will be a wide array of accepted payments from bank transfers and gift cards so people can purchase and sell bitcoin cash using a variety of payment methods.

A Privacy-Focused Bitcoin Cash P2P Exchange Is Coming to Bitcoin.com

Once you find a proposal you’re happy with, simply open a trade with anyone on Local.bitcoin.com. Choose the amount of bitcoin cash you want to buy or sell, and then lock the rate in. After the traders reach an agreement they can then make the exchange. Payment details are always discussed using end-to-end encrypted messages. From there, the BCH goes into an escrow account and once the seller confirms payment, the BCH is released from escrow to the buyer.

A Privacy-Focused Bitcoin Cash P2P Exchange Is Coming to Bitcoin.com

As mentioned above, bitcoin cash adoption and accessibility is one of Bitcoin.com’s primary goals and over-the-counter platforms are some of the most private ways to purchase cryptocurrencies. Moreover, not everyone in the world has access to a local trading exchange so in some countries peer-to-peer platforms are the only way to buy digital assets. A multitude of payment methods also extends crypto penetration even deeper because most online exchanges only offer a few funding options. Local.bitcoin.com will be launching soon and our readers at news.Bitcoin.com can get on the list to receive early bird notification when the Local Bitcoin Cash trading platform goes live. Simply head to the Local Bitcoin Cash portal and click on the button marked “Stay notified.”

What do you think about our upcoming service Local.bitcoin.com? Let us know what you think about this subject in the comments section below.


Image credits: Shutterstock, and Local.bitcoin.com.


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even look up 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.

The post A Privacy-Focused Bitcoin Cash P2P Exchange Is Coming to Bitcoin.com appeared first on Bitcoin News.

Bitcoin News

American Electronics Giant Avnet Now Accepts Bitcoin Cash Payments

March 20, 2019 |

American Electronics Giant Avnet Now Accepts Bitcoin Cash Payments

Avnet (Nasdaq: AVT), a Phoenix, Arizona headquartered technology solutions company, has announced on Tuesday that it is now working with Bitpay to accept cryptocurrency payments for its products and services including bitcoin cash (BCH).

Also Read: Bitmain Releases Miner 3x More Powerful Than Its Predecessor

One of the Largest Global Technology Solution Providers on the Fortune 500

Founded in 1921, Avnet is one of the world’s largest distributors of electronic components and embedded solutions. It ranks at number 128 on the Fortune 500 list and at number 414 on the Fortune Global 500, with revenues of about $ 20 billion a year. The electronics giant explained that it is adding support for cryptocurrency payments to provide its customers with more convenient ways to complete their financial transactions so they can focus on developing their products – not on how to pay for them.

American Electronics Giant Avnet Now Accepts Bitcoin Cash Payments

“As one of the largest global technology solution providers on the Fortune 500 list, Avnet is truly an innovative company that listens to the needs of their customers, as demonstrated by their decision to accept bitcoin payments,” said Sonny Singh, Bitpay’s chief commercial officer. “Not only is paying with bitcoin easier and faster than with credit cards and bank wires, it is less expensive and acceptance of it is growing. I predict Avnet will attract many new blockchain-focused customers from around the world that want to take advantage of paying with bitcoin.”

Several Multi-Million-Dollar Cryptocurrency Transactions Already Closed

Avnet also revealed on Tuesday that it has already closed several multi-million dollar cryptocurrency transactions within the first month of accepting cryptocurrency payments. This includes working with Bitcoin.com to develop a new hardware wallet that will enable cryptocurrency storage and provide the highest level of security for transactions.

American Electronics Giant Avnet Now Accepts Bitcoin Cash Payments

The way the cryptocurrency payments service works is that when an Avnet customer elects to make a purchase with bitcoin core (BTC) or bitcoin cash (BCH), the company will work with Bitpay to verify the funds, process the order and complete the transaction. The two American companies will also have the ability to manage and process cryptocurrency requests outside the U.S. on a country by country basis.

What do you think about Avent accepting bitcoin cash payments via Bitpay? Share your thoughts in the comments section below.


Images courtesy of Shutterstock and Avent.


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 American Electronics Giant Avnet Now Accepts Bitcoin Cash Payments appeared first on Bitcoin News.

Bitcoin News

Real Estate Giant Holding Live Luxury Home Auction for Bitcoin

March 19, 2019 |

Real Estate Giant Holding Live Luxury Home Auction for Bitcoin

A major Australian real estate group is holding a luxury home auction that can be paid for with two cryptocurrencies. There will be a live auctioneer who will call out bids in BTC. The property owner says he wants to keep as many coins as possible.

Also read: Crypto Enthusiasts Unite in 4 Indian Cities to Voice Regulatory Suggestions

Live Auction for Cryptocurrencies

One of Australia’s largest real estate groups, LJ Hooker, is preparing a live luxury real estate auction for cryptocurrencies with a live auctioneer. The company is working with James Pratt Auctions and blockchain company Nuyen, which will facilitate online bidding for the five-bedroom house in New South Wales, Australia. Micky media outlet reported Monday:

The auctioneer will call bids in cryptocurrency, with the price to be converted and displayed in AUD and USD on a live screen. Payments can be made in both bitcoin (BTC) and binance coin (BNB).

The owner of the property and president of Nuyen, Greg Costello, told news.Bitcoin.com that, in addition to the two cryptocurrencies, AUD will also be accepted.

Real Estate Giant Holding Live Luxury Home Auction for Bitcoin

According to Nuyen, the auction has attracted interested buyers from the U.S., Canada, China, and Australia, the publication detailed. Costello was quoted as saying: “We have already had parties register for the auction in less than 5 days of it being released … There has been a lot of international interest and publicity and I expect to see this grow and grow as the auction gets closer.”

Furthermore, he told the news outlet that he believes there will be more live auctions for cryptocurrencies in the future because international bidders can easily participate, elaborating:

All signs point to a borderless system where digital assets are traded for real assets.

Established in 1928, LJ Hooker claims to be “Australia’s best-known and most trusted real estate brand.” With offices in Australia, New Zealand, China, Indonesia, Papua New Guinea and Vanuatu, the group claims to manage the largest property portfolio in the region of approximately 160,000 properties worth $ 100 billion Australian dollars (~$ 71 billion).

Real Estate Giant Holding Live Luxury Home Auction for Bitcoin

The Auction

The auction will take place on April 8. There will be a live auctioneer on the property, which is located on the coast about 60 miles south of Brisbane. Nuyen Vice President Ryan Lee described the post-auction process:

Once the sale has been completed, Nuyen’s internal and secure exchange will then be responsible for facilitating the liquidation of the coins themselves and of course releasing them back to the market.

Costello, being a firm crypto believer, intends to keep as much of the BTC and BNB as he can, Micky conveyed. Nonetheless, he explained that “Some of the coins will have to be liquidated to release the mortgage but the rest will be held tight for future gains.”

What do you think of this live auction for BTC and BNB? Let us know in the comments section below.


Images courtesy of Shutterstock, LJ Hooker, and Greg Costello.


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

The post Real Estate Giant Holding Live Luxury Home Auction for Bitcoin appeared first on Bitcoin News.

Bitcoin News

Bitcoin Cash Developers Launch Privacy-Preserving Light Client Neutrino

March 17, 2019 |

Bitcoin Cash Developers Launch Neutrino a Privacy-Preserving Light Client

The developers behind the Bitcoin Cash (BCH) full node Bchd have announced the beta release of the lightweight client Neutrino which is now available for Android phones. The Neutrino protocol is not only exceptionally fast, but the client is considered a privacy-preserving light wallet because it uses a concept called client-side filtering.

Also read: New Tasking Platform Lazyfox.io Rewards Users With Bitcoin Cash

Bchd Light Client Neutrino Launches Beta App for Android Users

On March 16, Chris Pacia and the Bchd full node developers announced the launch of Neutrino. The light client is now available for download in the Google Play store but the wallet is still in beta. BCH fans knew the wallet was coming, because on Feb. 29 Pacia gave his Twitter followers a sneak preview of it in action. The programmer also discussed the initial development prior to the video demo in a blog post on Nov. 19. Neutrino uses the Simplified Payment Verification (SPV) and allows users to store coins in a noncustodial fashion.

Bitcoin Cash Developers Launch Privacy-Preserving Light Client Neutrino

“Neutrino is the most technologically advanced cryptocurrency wallet to date,” reads the Neutrino description on the Google Play store. “Whereas all other wallets leak information about your transactions to third parties, Neutrino uses a new technique called client-side filtering to obfuscate your transaction downloads to better preserve your privacy.”

SPV wallets have been around for a long time (BIP0037) and not all of them are the same. Clients like BRD and Electron Cash call specific servers that validate transactions and they also allow users to connect to a custom node. BTC developers Jim Posen and Laolu “Roasbeef” Osuntokun introduced BIPs 157/158 which established the concept of client-side filtering for the Lightning Network.

Bitcoin Cash Developers Launch Privacy-Preserving Light Client Neutrino
Neutrino wallet.

‘Better Preserve Your Privacy’

The developers of the full node Bchd client written in Golang decided to utilize the client-side Neutrino wallet which is completely unrelated to Lightning. Moreover, other wallets can utilize the Neutrino protocol if they desire in order to bolster the SPV experience.

“The way [client-side filtering] works is full nodes create a filter for each block in the chain — You can think of a filter as an ultra-compact representation of all of the transactions in the block — The nodes store these filters on disk along with the block,” the Bchd developers expounded while introducing the Neutrino development.

The programmers further enumerated:

SPV wallets using Neutrino sync the full chain of headers like a normal SPV wallet, but they also download the filter for each block.

At the moment on the Google Play store, the application’s specifications state that the wallet is still in beta development and “may be unstable.” Users should probably test and experiment with Neutrino with a small fraction of funds and wait for a stable version release to use the wallet regularly. BCH supporters seem pleased with the Neutrino launch and have expressed this sentiment on social media and forums after the launch. BCH supporter “Wecx” downloaded the software and tweeted that he appreciated the client-side filtering aspects of the wallet.

“I download the bitcoin cash advanced SPV Neutrino wallet on my phone and connected it to my Bchd node — The default is advanced SPV mode — Neutrino uses a new technique called client-side filtering to obfuscate your transaction downloads to better preserve your privacy,” Wecx remarked on March 16.

What do you think about the Neutrino light client and the client-side filtering technique? Let us know what you think about this subject in the comments below.

Disclaimer: Readers should do their own due diligence before taking any actions related to the mentioned companies or any of its affiliates or services. Bitcoin.com and the author are 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 this article. This editorial is for informational purposes only.


Image credits: Shutterstock, Pixabay, Google Play, and Neutrino


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

The post Bitcoin Cash Developers Launch Privacy-Preserving Light Client Neutrino appeared first on Bitcoin News.

Bitcoin News

New Tasking Platform Lazyfox.io Rewards Users With Bitcoin Cash

March 16, 2019 |

New Tasking Platform Lazyfox.io Rewards Users With Bitcoin Cash

The crypto community has been discussing a new tasking platform fueled by bitcoin cash (BCH) called Lazyfox.io. The platform, developed by Tobias B, a programmer headquartered in Berlin, gives users incentives to answer questions, participate in surveys, and obtain BCH by completing bounties.

Also read: Ledger Reveals Physical Exploits Against Trezor Hardware Wallets

Lazyfox Rewards Users With Bitcoin Cash for Tasks and Bounties

On March 13, a developer called Tobias B announced the public beta launch of Lazyfox.io, a bitcoin cash-powered Q&A and tasking site aimed at rewarding users with BCH. Tobias explained to BCH supporters on r/btc that Lazyfox users can ask questions and set up bounties for other users to answer them by way of an incentive. The creator says he aimed to create a platform that is similar to Stackoverflow and Fiverr. Essentially there are three main features on the site available to registered users: creating tasks, solving tasks and resolving disputes.

“After a user solved a task on lazyfox.io and the creator accepted it, the reward will immediately be paid out to the user’s payout address,” explained Tobias. “No user balances are stored on the site.”

New Tasking Platform Lazyfox.io Rewards Users With Bitcoin Cash
Lazyfox.io landing page and tasks.

Lazyfox Features Badger Wallet and Cash-ID Support

At the moment Lazyfox has a bunch of different tasks for users to accomplish. Assignments include recommending a tourist guide, bug report bounties, and describing good streaming movies to another user. Users can also advertise things and use specific tags for services like writing, programming, translation, bounties, graphics editing, animation, web design, and tourism. In order to resolve a dispute, users can receive a certain percentage of the task’s reward and Lazyfox also charges a fee of 1 percent. Additionally, the developer has added Badger wallet support and Jonathan Silverblood’s Cash-ID specifications.

New Tasking Platform Lazyfox.io Rewards Users With Bitcoin Cash
Lazyfox.io tags.

“The site fully integrates Badger wallet as a login/signup method as well to combine login/signup via bitcoin signature with awesome usability,” Tobias explained. “Also for payments the platform shows a convenient button if Badger is installed — Shoutout to Jonathan Silverblood for writing the Cash-ID specification and the guys from Badger for the awesome badger chrome/firefox plugin.”

Lazyfox follows the recent release of a similar platform called Taskopus that aims to be an Amazon Mechanical Turk competitor using bitcoin cash. Taskopus was developed by the team who built Freelanceforcoins and was launched a few days before the Lazyfox platform. Similarly to Taskopus, the Lazyfox application will have to attract a good sized user base for the application to gain traction.

What do you think about the Lazyfox.io platform? Let us know what you think about this subject in the comments section below.

Disclaimer: Readers should do their own due diligence before taking any actions related to the mentioned companies or any of its affiliates or services. Bitcoin.com and the author are 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 this article. This editorial is for informational purposes only.


Image credits: Shutterstock, Lazyfox.io, and Pixabay.


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

The post New Tasking Platform Lazyfox.io Rewards Users With Bitcoin Cash appeared first on Bitcoin News.

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In the Daily: $4K Bitcoin, Grin Fund Grows, Cryptopia Wallets Return

March 16, 2019 |

In the Daily: $  4K Bitcoin, Grin Fund Grows, Cryptopia Wallets Return

In the first weekend despatch of The Daily, we share some of the exuberance that’s greeted BTC passing the symbolic $ 4K threshold. We also check up on how the Grin developer fund is going and the progress that Cryptopia exchange is making in returning to full strength in the wake of its hack.

Also read: Jeff Garzik Subpoenaed in Kleiman Bitcoin Lawsuit Against Craig Wright

Traders Bullish as Bitcoin Passes $ 4K and BCH Soars

Having flirted with the price point for a few days, BTC finally mustered up the courage to ease into $ 4,000 territory early on March 16. Crypto twitter had a lot to say about this miniature milestone, which marked BTC’s first return to high ground since Feb 24. “Crypto Thies” proclaimed there to be a three-week buy signal, the first since October 2016, when BTC was at $ 500.

In the Daily: $  4K Bitcoin, Grin Fund Grows, Cryptopia Wallets Return
BCH 24-hour chart.

Not everyone was getting carried away with BTC’s latest price point, given its previous failures to hold this position. Nevertheless, given the major moves from scores of altcoins over the past fortnight, coupled with BTC’s more modest overnight gains, there’s confidence clearly returning to the crypto markets. BCH has been the best performing top 10 coin over the last 24 hours, however, climbing 15 percent to reach $ 155.

Poloniex Makes First Grin Donation

In addition to enabling grin withdrawals, Poloniex has announced that it’s made good on its previous pledge to support the Grin developer fund. 50 percent of trading fees from the first month were committed to the Grin General Fund, followed by 25 percent for the next 11 months. Poloniex elected to do so on the basis that “we believe in supporting crypto projects which encourage distributed voluntary development and fair, decentralized methods of token distribution.” The first donation has seen 1.27864 BTC go to the Grin fund to support further development of the Mimblewimble privacy coin.

In the Daily: $  4K Bitcoin, Grin Fund Grows, Cryptopia Wallets Return
Cryptopia’s coin info page

Cryptopia Inches Closer to Full Service

Cryptopia has updated its customers on the progress it’s making in restoring hundreds of altcoin wallets. Since suffering a major hack in January that claimed close to 10 percent of its crypto, the New Zealand-based platform has been slowly but steadily getting back on track. It’s now established a coin info page, displaying the status of the altcoins whose wallets it’s restoring. Traders will be relieved to learn that animecoin is now active, though they’ll need to wait a little longer to deposit and withdraw asiacoin. The exchange also took the time out to reflect on the local Christchurch shooting.

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: $ 4K Bitcoin, Grin Fund Grows, Cryptopia Wallets Return appeared first on Bitcoin News.

Bitcoin News

Jeff Garzik Subpoenaed in Kleiman Bitcoin Lawsuit Against Craig Wright

March 15, 2019 |

Jeff Garzik Subpoenaed in the Kleiman Bitcoin Lawsuit Against Craig Wright

On March 15, well-known Bitcoin developer Jeff Garzik revealed he was subpoenaed by the U.S. District Court of Southern Florida in the infamous Kleiman vs Wright bitcoin lawsuit. The Kleiman family is suing the self-proclaimed Satoshi for roughly 300,000 BTC and Garzik has been served by the court and asked to submit assorted documents and possible evidence that would be relevant to the case.

Also Read: Satoshi’s Pre-Release Bitcoin Code Contains Fascinating Findings

The Kleiman Estate Wants Jeff Garzik to Reveal Anything He Knows About Satoshi, David Kleiman and Craig Wright

The Kleiman estate and David Kleiman’s brother Ira Kleiman believe Craig Wright defrauded David and manipulated his assets. Some people believe that David Kleiman (deceased) may have been the creator of Bitcoin and the estate thinks he is owed about 300,000 BTC ($ 1.1 billion) from a trust that allegedly has 1 million BTC locked until the year 2020. News.Bitcoin.com recently reported on Wright’s response to the billion dollar lawsuit after Judge Beth Bloom denied his attempt at dismissing the charges. Now the early Bitcoin adopter and developer Jeff Garzik is involved with the lawsuit as he announced he’s been served with a subpoena to appear in court. The subpoena stems from the Kleiman’s council and asks Garzik to submit any evidence to the theory that David Kleiman was Satoshi Nakamoto.

“You got served,” Garzik exclaimed on Twitter. “The Bitcoin lawsuit drones on. In the interest of radical transparency, here’s the subpoena that just arrived for me (sans page 1).”

Jeff Garzik Subpoenaed in Kleiman Bitcoin Lawsuit Against Craig Wright

The subpoena also asks for any communications between Garzik and Wright and whether he had any direct communications with Kleiman. The plaintiff’s counsel is in search of any documents that stem from David Kleiman, W&K Info Defense (Kleiman and Wright’s company), and any communications with an individual called Uyen Nguyen. The request also asks for any communications between Garzik and the pseudonym or moniker Satoshi Nakamoto and any evidence that is tied to the “Tulip Trust” or “GISCR Trust.” The subpoena also refers to the search for subjects like early bitcoin mining between Jan. 1, 2009 through April 2013. Other subjects include any documents tied to Mt. Gox, Silk Road, Liberty Reserve, and the Prometheus Project. The documents ask about communications between well known figures like cryptographer Ian Grigg, writer Andrew O’Hagan, and billionaire gambling tycoon Calvin Ayre.

Jeff Garzik Subpoenaed in Kleiman Bitcoin Lawsuit Against Craig Wright

Garzik’s Personal Theory

Wright and his council have denied the allegations against him and said the oral partnership between Wright and Kleiman was barred by the statute of frauds. “There was no written partnership agreement between Dr. Wright and David Kleiman and/or W&K Info Defense Research, LLC,” Wright’s attorney’s detailed in the 36-page response to the charges. Meanwhile, Wright has been telling the public throughout many published tweets and memoirs how he was involved with the creation of Bitcoin.

In the 14-page request to Garzik it seems the Kleiman estate and council want to know everything the developer may have come across over the years. The request also mentions a Bloomberg article that talks about Garzik’s “personal theory” about David Kleiman. In the article Garzik states: “My personal theory is that [Satoshi Nakamoto] is the Floridian Dave Kleiman. It matches his coding style, this gentleman was self-taught. And the Bitcoin coder was someone who was very, very smart, but not a classically trained software engineer.” This specific quote has led the Kleiman estate to believe that Garzik may know more about the relationship between Wright and Kleiman or have clues about David’s possible connection to the infamous Nakamoto.

What do you think about the subpoena sent to Jeff Garzik? Let us know what you think about this subject in the comments section below.


Image credits: Pixabay, Twitter and Scribd.


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even look up 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.

The post Jeff Garzik Subpoenaed in Kleiman Bitcoin Lawsuit Against Craig Wright appeared first on Bitcoin News.

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Bitcoin Volumes in Venezuela Plummet During Nationwide Blackout

March 15, 2019 |

Bitcoin Volumes in Venezuela Plummet During Nationwide Blackout

Venezuelans are having a difficult time as the country’s power grid shut off on March 7, leaving the majority of Venezuelan states with no electricity for well over a week. According to reports on March 14, electricity has been restored throughout most states within the country. However, during the week-long blackout, bitcoin trades on the peer-to-peer exchange Localbitcoins plummeted by 40 percent.

Also Read: Satoshi’s Pre-Release Bitcoin Code Contains Fascinating Findings

Venezuelan Infrastructure Remains in Dire Straits

The Venezuelan people have been suffering for quite some time as the nation’s inflation rate has crossed a whopping 2,688,670 percent as of January 2019. The Venezuelan fiat currency, the bolivar, is basically worthless and there are many pictures of banknotes strewn across the streets within the capital of Caracas and other areas. To make matters worse, on March 7, the country lost electricity during a severe blackout. Much of the region’s telecommunications system seized as well, making it difficult for individuals within the country to communicate to the outside world.

Bitcoin Volumes in Venezuela Plummet During Nationwide Blackout
Despite electricity being restored, Venezuelans are having a hard time finding clean water as household faucets are spewing a black oily substance.

On March 14, reports stemming from the Venezuelan Information Minister Jorge Rodrigues detailed that power was “100 percent restored.” However, the nation’s citizens are still searching for clean drinking water as residents of the country are complaining of oil-contaminated black water coming out of their faucets. On March 13, a blog post titled “Synthesis of a ‘Blockout’” emphasized that Venezuelan residents right now have no choice but to look to the country’s polluted riverways for water.

Bitcoin Volumes in Venezuela Plummet During Nationwide Blackout
Venezuelans in search of water are forced to use the liquid in the country’s riverways.

“The lack of drinking water has bottomed out in the most popular sectors of the ‘great capital,’ which resulted in the search for the precious liquid in one of the most polluted rivers in Latin America and whose results of water analysis is ‘not suitable for human consumption,’” Daniel Jimenez explains in his revealing post about the situation.

Jimenez’s account of Venezuela’s week-long power outage adds:

For now, the average population on foot, the Venezuelan who has no strength or time to march, nor to defend the revolution, continues in his titanic daily struggle to get water, food and most importantly money to be able to acquire the above; given the galloping hyperinflation.

Bitcoin Trade Volumes Slump by 40% During the Blackout and BTC Currently Sells for $ 150 Less Than Global Spot Prices

Weeks before the blackout, BTC trade volumes on Localbitcoins in Venezuela had risen to all-time highs (25 billion bolivars or $ 7.5 million USD). At the time there were many headlines and editorials about Venezuelans possibly running to bitcoin as a hedge against the hyperinflation. However, as soon as the power went out on March 7, Localbitcoins trade volumes slid 40 percent during the blackout to a low of 14 billion bolivars ($ 4.2 million). The author at Caracas Chronicles, Carlos Hernandez, tweeted about volumes dropping significantly at the same time most of the country had no power.

Bitcoin Volumes in Venezuela Plummet During Nationwide Blackout
Localbitcoins trade volumes in Venezuela during the blackout.

Stories like these echo a similar situation that took place in Zimbabwe where cryptocurrency speculators hope the region’s hyperinflation sparks hyperbitcoinization. Just like in Venezuela, demand for bitcoin is high when the country’s infrastructure is working properly, but in Zimbabwe on Jan. 15 when mobile networks and internet service providers were suspended it became an entirely different story. With hyperinflation taking place in Venezuela, citizens are being pushed to use any means of payment that can help them survive.

Bitcoin Volumes in Venezuela Plummet During Nationwide Blackout
Localbitcoins volumes during the blackout drop by 40% from the all-time high in January 2019.

Besides euros, U.S. dollars, and barter, the use of cryptocurrencies provides another avenue of escape but only when the electricity is working. Moreover, at the time of publication, 1 BTC is selling for roughly 12 million bolivars ($ 3,650) which is $ 150-200 less than global spot prices. With the power in Venezuela slowly being restored, Localbitcoin ads in Caracas, Valencia, Barquisimeto, Maracay, Guayana City, Maracaibo, Barinas, and Carabobo are popping with sellers trying to unload BTC for cheaper prices than the rest of the world.

What do you think about the situation in Venezuela? Let us know what you think about this subject in the comments section below.


Image credits: Shutterstock, Pixabay, Twitter, and Coin Dance.


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even look up 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.

The post Bitcoin Volumes in Venezuela Plummet During Nationwide Blackout appeared first on Bitcoin News.

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