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Bitcoin Cash Roundup: Adoption Stories and New Developments

October 19, 2019 |

Bitcoin Cash Roundup: Adoption Stories and New Developments

Bitcoin Cash (BCH) adoption, development, and participation continue to spread as there’s been a myriad of BCH-related announcements in the last few weeks. Moreover, there’s now over 18 million bitcoin cash in circulation and only three million coins left to mine.

Also read: Ethereum Name Service Adds Infrastructure for Multi-Currency Support

Bitcoin Cash Adoption and Announcements

The last few weeks have seen a variety of new adoption stories, software development, and new platforms that utilize BCH. Proponents of the decentralized cryptocurrency have been relentlessly pushing for mass adoption while showing a strong dedication toward scaling. Right now the price of bitcoin cash is hovering between $ 210-230 after most digital assets dropped a few percentages in value last week.

Bitcoin Cash Roundup: Adoption Stories and New Developments
Coin Dance BCH statistics in comparison to BTC.

According to Coin Dance statistics, it is 489x more expensive to transact on the BTC chain in comparison to using the BCH network. Additionally, at the time of publication it is currently 3.5% more profitable to mine on the Bitcoin Cash blockchain. BCH fans have also witnessed the 18 millionth coin mined on the chain and there’s now only three million BCH left to mine. The fact that there are so few left makes bitcoin cash scarce and far superior to the fiat currencies that can be printed on a whim.

Bitcoincash.org’s Developer Portal

On October 10, the website bitcoincash.org announced it is launching a developer portal so programmers can utilize tools to develop and build on BCH. “Create amazing apps with Bitcoin Cash with resources for developers, by developers,” the website explains. The bitcoincash.org developer portal has tools like Python and Javascript libraries, vocabulary and associated APIs for Bitcoin Cash, the Badger Wallet software development kit (SDK), and an SLP SDK. The portal gives blockchain engineers the means to create infrastructure and third-party services for the BCH chain.

Bitcoin ABC Version 0.20.4 and the November 15 Upgrade

Six days later, the Bitcoin ABC development team released Bitcoin ABC version 0.20.4. The latest client release provides users with a new ‘createwallet` RPC command, bug fixes, and more. The 0.20.4 version is available to download now for a variety of operating systems. In addition to the recent release, BCH developers from across multiple clients are preparing for the forthcoming November upgrade. BCH engineers plan to implement two new features: Schnorr support for OP_Checkmultisig and enforcing Minimaldata in script, otherwise known as the “Minimaldata” rule.

Bitcoin Cash Roundup: Adoption Stories and New Developments

Telefuel Accepts Bitcoin Cash

A new unofficial platform for the Telegram messaging application Telefuel has announced the firm is now accepting bitcoin cash payments for its premium-tier services. Telefuel is an application for Telegram power users who can leverage the platform for coworking, collaboration, and productivity offerings. For instance, with Telefuel users can access Slack-like services that can support individual and group workflows. Features include chat folders, workspaces, keyboard shortcuts, unread mention filters, and split tabs for DMs, groups, bots, and channels.

Bitcoin Cash Roundup: Adoption Stories and New Developments
Telefuel.

“We’re building Telefuel to serve power users on Telegram, so crypto-industry professionals are obviously an important focus for us,” Telefuel co-founder Alan VanToai detailed. “Bitcoin Cash is an important pillar in the industry, so we’re happy to include BCH among the currencies we’re accepting for Telefuel Pro.”

Visual Recognition Engine Visionati Accepts Bitcoin Cash for Services

Another service that now accepts BCH is Visionati, a visual recognition engine that leverages artificial intelligence (AI). Visionati believes it’s the “most robust computer vision API on the market” by offering advanced algorithms and data. Users can harness the platform to interact with image and video metadata. Services offered include image and video analysis so people can make images and films searchable with the ability to filter as well. This includes automatic tagging, NSFW filtering, facial recognition, logo detection, color analysis, and optical character recognition. For services, Visionati accepts BCH, ETH, and BTC. The startup believes it is one of the first visual recognition products enhanced by AI that accepts digital assets.

Bitcoin Cash Roundup: Adoption Stories and New Developments
Visionati.

Blockchain.poker’s Tournament Feature

A new feature is available at blockchain.poker for users who want to play poker for BCH, BTC, or BSV. Users can simply log in and sit down for a game or they can create their own tournament on the platform with the added functionality. The site’s owners recently revealed the poker platform’s tournament update on Twitter, explaining: “You can now earn bitcoin by creating your own sponsored tournaments on blockchain.poker. Create a tournament by clicking the “+” button at the bottom of the tournament lobby.”

Bitcoin Cash Roundup: Adoption Stories and New Developments
Blockchain.poker.

This morning a few players announced on the Reddit forum r/btc a 0.5 BCH guaranteed prize pool tournament on the web portal. BCH fans seemed to enjoy the poker site’s announcement and one person remarked: “Keep up the great work guys — I’m convinced this is going to be huge once the key features you described here are implemented. The reputation system should mitigate a good portion of the risk of cheaters if done right.”

Upcoming Consensus Changes and the Road Forward

Overall there’s been a lot happening within the BCH ecosystem and passionate Bitcoin Cash proponents continue to truck forward. Bitcoin Cash miners, businesses, and node operators are also preparing for the consensus changes coming November 15. The upgrade is a touch over two weeks away and according to developers, the added features will continue to bolster the BCH roadmap going forward.

What do you think about all the Bitcoin Cash developments and adoption stories? Let us know what you think about this subject in the comments section below.


Image credits: Shutterstock, Bitcoin ABC, blockchain.poker, Telefuel, Visionati, Coin Dance, and Twitter.


Did you know you could win big with Bitcoin gambling? Choose from a range of BCH games including BCH poker, BCH slots, and many more. All games are provably fair—good luck!

The post Bitcoin Cash Roundup: Adoption Stories and New Developments appeared first on Bitcoin News.

Bitcoin News

CME Bitcoin Futures Sees Institutional Interest and Demand from Asia

October 18, 2019 |

CME Bitcoin Futures Sees Institutional Interest and Demand from Asia

Global markets business CME Group said that institutional interest toward the firm’s Bitcoin futures is thriving and 2019’s third-quarter data showed a record number of open interest. Moreover, despite the lackluster start, the Intercontinental Exchange’s (ICE) Bakkt platform has seen an increase in interest with the company’s physically-settled bitcoin futures product.

Also read: Honestnode Founder Discusses the First Stablecoin Built on Bitcoin Cash

CME Group’s Bitcoin Futures Continue to Prosper

Since going live with its bitcoin futures in December 2017, CME Group’s BTC derivatives has allowed individuals and organizations the ability to hedge exposure to the digital currency. Throughout 2018 and 2019, CME has seen a significant rise in open interest in its bitcoin futures. This summer CME saw unprecedented numbers compared to the volumes recorded a few months prior.

“CME Bitcoin futures reached a record $ 1.7B in notional value traded on June 26, surpassing the previous record by more than 30% — The surge in volume also set a new open interest record of 6,069 contracts as institutional interest continues to build,” CME Group stated. The Chicago-based exchange detailed on October 11 that open contracts during the third quarter grew significantly in comparison to Q3 2018. The number of outstanding positions almost doubled and the company explained that the rise stems from institutions.

“Institutional interest in CME Bitcoin futures (BTC) continued to build in Q3 with a record number of large open interest holders (25+ BTC),” the trading platform imparted last week.

CME Bitcoin Futures Sees Institutional Interest and Demand from Asia

The news follows CME’s announcement that due to “growing interest in cryptocurrencies and customer demand for tools to manage bitcoin exposure” the exchange would begin offering options on Bitcoin futures (BTC) in early 2020. The day before it’s third-quarter update, CME Group’s global head of equity index and alternative investment products, Tim McCourt, explained there is a huge interest in bitcoin futures in Asia. For instance, cryptocurrency miners based in Asia appreciate derivatives products because they can hedge their costs. Even though the company is preparing for BTC options, McCourt disclosed that CME is not planning to provide physically-settled products like Bakkt. In an interview, McCourt stated:

While futures give you a one-for-one exposure, whereby the movement of the underlying bitcoin translates directly to a specific dollar value per contract, an option gives you varying strike-price levels and can give you either downside protection, or upside exposure at a fraction of the underlying [assets’] price.

Bakkt’s Bitcoin Futures Volume Spikes and Ethereum and Bitcoin Cash Derivative Products Are Coming Soon

When Bakkt launched its physically-settled bitcoin futures the first week was quite dismal and only started to pick up steam after it executed its first block trade between Galaxy Digital and XBTO. Despite the weak start, Bakkt’s BTC trading volumes rose sharply on October 10, from 25 contracts to 224 contracts seeing a 796% rise. The Bakkt Volume Bot shows that futures volumes touched 53 on October 15 and went up 49% with 79 contracts the day after.

CME Bitcoin Futures Sees Institutional Interest and Demand from Asia

Bakkt CEO Kelly Loeffler believes the future of these derivatives products is just getting started and recently wrote about the subject in a blog post called “The Dawn of an Asset Class.” “Seamless coordination between ICE Futures U.S., ICE Clear US, and the Bakkt Warehouse is an important feature of Bakkt’s Bitcoin Futures,” Loeffler wrote for FIA’s global futures magazine. “Much like cotton and coffee futures contracts that can go to physical delivery, many of the same processes apply to the Bakkt Bitcoin Futures,” Loeffler added:

The Bakkt Warehouse stands between the customer and the clearing member to securely manage bitcoin movements based on deep domain knowledge, along with significant investments in infrastructure and operations. This design allows clearing members to manage margin balances in USD or U.S. Treasuries, rather than bitcoin.

CME Bitcoin Futures Sees Institutional Interest and Demand from Asia
Intercontinental Exchange chairman and CEO, Jeff Sprecher (right), with his wife and Bakkt CEO Kelly Loeffler (left).

The market has shown demand for futures products tied to BTC, but there’s a strong desire for other cryptocurrency derivatives products as well. At Yahoo Finance’s All Markets Summit in New York City on October 10, Heath Tarbert told the press that he believes Ethereum-based futures will be coming. “It is my view as Chairman of the CFTC that Ether is a commodity, and therefore it will be regulated under the CEA. And my guess is that you will see in the near future Ether-related futures contracts and other derivatives potentially traded.” Further, David Shin, the head of the exchange business at Bitcoin.com recently revealed that the public could see a bitcoin cash (BCH) futures products in Q1 2020.

What do you think about the rising interest in Bitcoin and other cryptocurrency products? Let us know what you think about this subject in the comments section below.


Image credits: Shutterstock, Pixabay, CME Group, Bakkt Volume Bot, Twitter, and Bakkt.


Do you want to keep an eye on moving cryptocurrency prices? Visit our Bitcoin Markets tool to get real-time price updates, and head over to our Blockchain Explorer tool to view all previous BCH and BTC transactions.

The post CME Bitcoin Futures Sees Institutional Interest and Demand from Asia appeared first on Bitcoin News.

Bitcoin News

SEC Wants Second Look at Bitwise Bitcoin ETF Proposal

October 18, 2019 |

SEC Wants Second Look at Bitwise Bitcoin ETF Proposal

The U.S. Securities and Exchange Commission (SEC) is reviewing its order issued last week pertaining to a rejected proposal for a bitcoin exchange-traded fund (ETF). The proposal was filed by NYSE Arca for the Bitwise Bitcoin ETF Trust. Meanwhile, the SEC is also evaluating a proposed rule change for a different type of bitcoin ETF.

Also read: SEC Rejects Another High-Profile Bitcoin ETF Proposal

ETF Order Stayed

The SEC has sent a letter dated Oct. 15 to Intercontinental Exchange (ICE), the parent company of the NYSE, concerning its recent order disapproving NYSE Arca’s proposal to list and trade shares of the Bitwise Bitcoin ETF Trust. This proposal was rejected on Oct. 9. “This letter is to notify you that, pursuant to Rule 431 of the Commission’s Rules of Practice, 17 CFR 201.431, the Commission will review the delegated action,” the letter explains, adding:

In accordance with Rule 431(e), the October 9, 2019 order is stayed until the Commission orders otherwise.

SEC Wants Second Look at Bitwise Bitcoin ETF Proposal

The letter continues, “The Office of the Secretary will notify you of any pertinent action taken by the Commission.”

Prior to the Oct. 9 rejection, ICE and Bitwise had been actively discussing their bitcoin ETF proposal with the SEC. The Commission emphasized that its disapproval “does not rest on an evaluation of whether bitcoin, or blockchain technology more generally, has utility or value as an innovation or an investment.” This is also not the first time the SEC has taken this action. In August last year, the Commission did the same with three orders for nine bitcoin ETFs.

T-Bill Bitcoin ETF in the Running

Besides reviewing the order disapproving the proposal for the Bitwise Bitcoin ETF Trust, the SEC is currently evaluating another proposed rule change filed by NYSE Arca. The exchange is seeking to list and trade shares of the United States Bitcoin and Treasury Investment Trust.

SEC Wants Second Look at Bitwise Bitcoin ETF Proposal

The proposal was first filed with the agency on June 12 and published in the Federal Register on July 1. The exchange filed Amendment No. 1 to the proposed rule change on Oct. 4, after which the SEC proceeded to solicit comments from the public. As of Oct. 10, the agency says it has received nine comments on the proposal.

According to the amendment, “the trust will have no assets other than (a) bitcoin and (b) short-term U.S. Treasury securities with a maturity of less than one year (‘T-Bills’).” Further, the trust will hold U.S. dollars for short periods of time in connection with the maturity of the T-bills, the sale and purchase of the underlying assets, redemptions, if any, and expenses of the trust.

Do you think the SEC will approve any bitcoin ETF proposal anytime soon? Let us know in the comments section below.


Images courtesy of Shutterstock.


Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

The post SEC Wants Second Look at Bitwise Bitcoin ETF Proposal appeared first on Bitcoin News.

Bitcoin News

SLP Token Ecosystem Built on Bitcoin Cash Continues to Blossom

October 17, 2019 |

SLP Token Ecosystem Built on Bitcoin Cash Continues to Blossom

The Simple Ledger Protocol (SLP) has come a long way since its inception and more than 4,900 SLP tokens have been created to date. During the last few months, SLP usage has grown significantly with people constructing various types of unique ideas that create more use cases for these token concepts.

Also read: SEC Commissioner Speaks Positively About Digital Assets Despite Recent Enforcement Flurry

Close to 5,000 SLP Tokens Created and Dividend Payments

Lots of individuals have been creating SLP tokens on the Bitcoin Cash (BCH) blockchain. Using the SLP explorer Simpleledger.info shows that there’s been 4,922 tokens created and 182,956 SLP transactions. Transactions using the SLP framework have increased a great deal over the last eight months and since August transactions have spiked considerably. Some of the most popular tokens being used today include the Tribeos Token Test #3, Spice, Bread, Honk Honk, SLP Official, Dogecash, ACD, Honestcoin, and Realmx.

SLP Token Ecosystem Built on Bitcoin Cash Continues to Blossom

Additionally, there’s been roughly 4,121 SLP-based token burns since the project started. The most popular SLP token designed by Tribeos is a trial token for the firm’s security token offering (STO). Tribeos founder Matt Gallant told news.Bitcoin.com in March that the Tribeos STO was approved by the Bermuda Minister of Finance under new digital asset laws. According to Electron Cash developer Jonald Fyookball and Gallant at the time, the official Tribeos token will be called FIRE.

SLP Token Ecosystem Built on Bitcoin Cash Continues to Blossom

Another popular platform that leverages the SLP framework is Bitcoin.com’s dividend payment tool and BCH proponents have been using the product regularly. For instance, SLP-centric exchange Cryptophyl has been airdropping tokens to registered traders and just recently the platform airdropped 2.1 million Spice using onchain dividends. Rhett Creighton, the creator of zclassic and bitcoin private, also established an SLP token for his group #800cc. Creighton recently gave away $ 20,000 in crypto in order to spread more adoption and created an #800cc SLP distribution concept using onchain dividend payments. On Wednesday, Creighton showed his excitement for Bitcoin.com’s dividend payment tool and said:

Wow — If I paste this into a Bitcoin.com wallet, it gives me a transaction to send 1 BCH split between all #800cc members with only 1 3-cent fee. Who is ready for magic?

SLP Token Universe Continues to Show Innovation

On forums and social media, BCH proponents discussed the current SLP trend and showed appreciation for the onchain dividend payment concept. One person remarked “It’s the dividends that really make this a game-changer — One could create a token that tracks eg. Exxon stock and when Exxon pays a dividend you get that in BCH. That’s custodial obviously but imagine having your entire PA stock portfolio in non-confiscatable borderless crypto?” “Coinex should move CET to SLP and pay dividends directly,” he added. Another SLP-related website launched this week called Pulse Monster shows a price index of a few popular SLP tokens like Spice, Drop, and Sai. Alternatively, individuals can visit the markets.Bitcoin.com token section for a price index on SLP tokens like ACD, Spice, and Honestcoin (USDH).

SLP Token Ecosystem Built on Bitcoin Cash Continues to Blossom

 

In addition to the traditional type 1 SLP tokens, people have been creating nonfungible tokens that can be grouped by a single ID. Since the release of the nonfungible token concept called NFT1 and the Simple Ledger Protocol virtual hackathon, people have been creating digitized assets and collectibles. The sandbox game built on top of the BCH chain Realmx uses SLP tokens for in-game items and weapons. For instance, there’s the Realmx Diamond Token, which has seen over 500 transactions since the coin’s inception. Moreover, all 4,900 SLP tokens in existence can be easily stored on one of many noncustodial clients like Ifwallet, Crescent Cash, Badger, Electron Cash, Honeypoints, and Memo’s native wallet. As the future of the SLP universe continues to blossom, the innovative concepts tied to the protocol should help cushion the value and utility of bitcoin cash.

What do you think about the environment being built around the Simple Ledger Protocol and all the tokens created on top of the BCH chain so far? Let us know what you think about this subject in the comments section below.


Image credits: Shutterstock, SLP, Pixabay, Pulse Monster, Simple Ledger Protocol, Ifwallet, Crescent Cash, Badger, Electron Cash, and Memo.


Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The Local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

The post SLP Token Ecosystem Built on Bitcoin Cash Continues to Blossom appeared first on Bitcoin News.

Bitcoin News

Bitcoin ATM in Miami Airport Raises Questions About Traveling With Crypto

October 17, 2019 |

Bitcoin ATM in Miami Airport Raises Questions About Traveling With Crypto

Miami based bitcoin ATM maker Bitstop has recently installed Miami International Airport’s first crypto ATM, according to a press release issued October 15. The installation adds to the 106 machines the company has already placed across the U.S. Further, it raises important questions about the benefits and legality of traveling with crypto in lieu of cash, when it comes to declaration of assets.

Also Read: Where US Regulators Stand on Cryptocurrency

Traveling Privately With Crypto

While the installation of another crypto ATM doesn’t exactly herald groundbreaking change in the crypto space, per se, Bitstop’s new ATM in Miami International Airport’s concourse G does merit some attention. First, though Bitstop advertises the user experience as “private,” travelers must first register with the company using a valid “ID or mobile device.” Given the current regulatory climate in the space, it seems that the days of legal, non-ID ATMs may soon be a thing of the past. Though there are still some ATMs allowing for non-ID purchase, regulatory bodies worldwide are taking unified steps to better track the flow of digital assets.

Second, travelers have been talking for a while now about the process of declaring declaring crypto holdings when passing through customs. Owing to the Bank Secrecy Act (BSA), countries have hard rules on the amounts of fiat cash, gold or other assets travelers can bring across their borders without an official declaration. With crypto, though, it’s not so cut and dried.

Bitcoin ATM in Miami Airport Raises Questions About Traveling With Crypto

Though a bill was submitted by the U.S. Senate in 2017 which would require travelers to declare digital currencies over $ 10,000 if made law, it has still to make its way to the customs declaration cards familiar to travelers. The bill reads in part:

Not later than 18 months after the date of enactment of this Act, the Secretary of Homeland Security, in consultation with the Commissioner of U.S. Customs and Border Protection, shall submit to Congress a report detailing a strategy to interdict and detect prepaid access devices, digital currencies, or other similar instruments, at border crossings and other ports of entry for the United States.

Though the latest iteration of the bill has yet to pass Senate, the reality of newly implemented decryption laws, in places like Australia, has some wondering when these practices might become more commonplace. According to a local media outlet, the accused in such cases “who refuse to provide access to a device face dramatic­ally increased penalties of up to 10 years’ imprisonment as a result of the laws, passed in December. Previously, the penalty was up to two years’ imprisonment.”

Bitcoin ATM in Miami Airport Raises Questions about Traveling With Crypto

Bitstop Co-Founder Cites Security and Convenience

Bitstop’s co-founder Doug Carrillo relates in the press release: “More and more people prefer to travel with Bitcoin instead of cash for convenience and security. Miami International Airport is a perfect place for our customers to conveniently exchange their dollars for Bitcoin and vice versa when traveling domestically or abroad.”

Carrillo’s proclamation raises even more questions about the possibility of travelers converting funds en route so as to avoid the necessity of declaration at their destination. Thanks to ID requirements, however, tracing such transactions would prove easy for law enforcement should legislation prohibiting such actions be passed.

Bitstop’s 107 bitcoin ATMs nationwide deal in BTC, and require extensive user identification. For some this is still a convenient and viable option. For others who prefer to acquire crypto in a less privacy-invasive manner, trading platforms like local.bitcoin.com exist, facilitating peer-to-peer trade of bitcoin cash (BCH) with multiple payment options and utilizing an end-to-end encrypted escrow system.

Do you think travelers should have to declare crypto at customs? Let us know in the comments section below.


Image credits: Shutterstock, fair use.


Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The Local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

The post Bitcoin ATM in Miami Airport Raises Questions About Traveling With Crypto appeared first on Bitcoin News.

Bitcoin News

Binance to Add Bitcoin Cash to Its Decentralized Exchange

October 17, 2019 |

Binance Adds Bitcoin Cash to Its Decentralized Exchange

Already widely available for trading across the world, bitcoin cash continues to expand into new markets and platforms. The latest venue where users can soon exchange the cryptocurrency is Binance’s decentralized exchange. The system will feature a token pegged to BCH issued on Binance Chain.

Also Read: Binance Launches Peer-to-Peer Trading in China

Binance DEX to List Bitcoin Cash Pegged Token

The head of the world’s largest crypto exchange by volume, Changpeng Zhao, has proposed adding support for trading bitcoin cash on the decentralized exchange developed on top of Binance Chain. This will be done by listing a new token on the DEX (BCH-1FD), which is backed by real BCH assets and issued on Binance Chain. Bitcoin cash will thus become only the third cryptocurrency chosen to be added to the platform, following a BTC-pegged token which was issued in June and another tracking the price of Ripple’s XRP which was launched last Thursday.

The BCH-1FD is a token pegged to the BCH value and will be available for trading on the DEX, designed to allow users to exchange coins and tokens with full custody over their funds and wallets. The exchange’s plan is to issue about $ 2 million worth of the BCH-pegged tokens to be traded at first and it will continue to mint more in response to market demands. Users can swap native DEX tokens for the assets they are pegged to without slippage on the company’s main exchange.

Binance to Add Bitcoin Cash to Its Decentralized Exchange

“The BCH community is one of the strongest crypto communities, and we’re excited to collaborate with them on migrating BCH token onto Binance Chain.” said Binance CEO Changpeng Zhao. “The BEP-2 BCH token will be pegged to the native BCH. BCH holders can enjoy the seamless token swap experience on Binance.com and non-custodian trading on Binance DEX after the listing proposal is approved by the Binance Chain community.”

Decentralized Crypto Trading Is on the Rise

Centralized exchanges currently dominate the crypto ecosystem in terms of trading volumes, but many would like to see a transition to decentralized alternatives to eliminate third party custody. So far DEXs have suffered from low liquidity and long onchain order execution times as well as poor UX. Binance DEX is meant to change that, with an interface that resembles the company’s popular main exchange, and short block times ensuring trades are settled rapidly. Already many crypto projects have chosen to join Binance Chain and want to have their tokens listed on its DEX.

Binance to Add Bitcoin Cash to Its Decentralized Exchange
Another trend away from centralized exchanges that Binance supports is peer-to-peer trading. The company recently launched P2P trading functionality in China with BTC, ETH and USDT for trading against CNY (Chinese Yuan). The feature reportedly supports traders making transactions between themselves while using the widely-used Chinese payment apps Alipay and Wechat Pay.

What do you think about Binance listing a bitcoin cash pegged token on its decentralized exchange? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

The post Binance to Add Bitcoin Cash to Its Decentralized Exchange appeared first on Bitcoin News.

Bitcoin News

Meet Be.cash: An Offline Bitcoin Cash Sending Tool

October 17, 2019 |

Meet Be.cash: An Offline Bitcoin Cash Sending Tool

On October 13, software developer Tobias Ruck showed off a demo of an offline bitcoin cash (BCH) wallet tool called Be.cash. The concept provides individuals with the ability to send and sign a BCH transaction without internet service.

Also read: 80% of Crypto Trade Volume Tracked by Blockchain Surveillance

Be.cash: A Tool for Sending and Signing Bitcoin Cash Offline

Since the inception of cryptocurrencies, detractors have always said that not being able to send funds offline is a weakness. The fact is that most digital currency transactions are internet-dependent but throughout some areas in the world getting connected is difficult. Over the last ten years, people have created methods for sending digital currencies like BTC offline. For instance, individuals have created applications that send crypto via SMS messaging, satellite, sneakernet, and mesh networking. On Sunday, Tobias Ruck introduced another alternative so people can send and sign BCH transactions offline. The project is called Be.cash and Ruck has produced a Be.cash contract, video, code repository, and a merchant and customer demo.

Meet Be.cash: An Offline Bitcoin Cash Sending Tool
Tobias Ruck presenting Be.cash.

Ruck is well known for developing applications like SLPDEX, Nimbus, Cryptopandas, and an onchain game of chess using the opcode OP_Checkdatasig. During the 10-minute introduction video, Ruck demonstrates the merchant and the customer side of a transaction. Ruck showed how the 10,000 satoshi transaction can be signed offline and insured by the smart contract. The engineer emphasized that the customer can also be sure the merchant can only redeem the signed funds once. On social media and forums, BCH supporters seemed to like the Be.cash offline wallet concept. The payment processor Anypay’s founder Derrick J Freeman thanked Ruck for his creation. “This will help us use bitcoin in space,” Freeman said. Cointext CTO, Vin Armani asked Ruck to write a formal paper and a spec for the Be.cash concept. Armani continued:

If you can get a microprocessor smart card to do this and interact with a point-of-sale via NFC or chip, you have a billion-dollar company on your hands.

Meet Be.cash: An Offline Bitcoin Cash Sending Tool
The Be.cash contract.

Since 2011 Crypto Advocates Have Wanted a Reliable Offline Wallet Application

Armani said that if Be.cash can be made to work on microprocessor smart cards and coupled with a USD or EUR stablecoin leveraging SLP, Ruck would have a global competitor to Visa on his hands. “One that is noncustodial but which can generate the same amount in fees/transaction — Billions per year,” Armani stressed.

Meet Be.cash: An Offline Bitcoin Cash Sending Tool
Signing a transaction using Be.cash.

The Be.cash tool comes at a time when people have been interested in figuring out the best way to transact with crypto offline. Individuals have been attempting to create a solid and reliable application for offline transactions since 2011. Last year a tool called ba.net/offline-bch/ was developed so people can send BCH UTXOs without the internet. The code is open source but the creator advises people only use it for small fractions of BCH. “Nothing is sent to our server, all code is run locally in your browser,” explains the website’s home page.

In Ruck’s demo video comment section, the web portal Bitcoinbch.com told Ruck that his idea “will be game-changing for certain businesses.” Another individual commented: “Super cool — I use a ‘never online’ computer for making wallets, if I could make a QR code using the offline computer and broadcast from my phone it’d be super easy and my keys would never go online.”

What do you think about Tobia Ruck’s offline BCH wallet concept? Let us know what you think about this subject in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any products, services, or companies. Neither the Bitcoin.com or the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Image credits: Shutterstock, Youtube, Tobias Ruck, and Pixabay.


Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry.

The post Meet Be.cash: An Offline Bitcoin Cash Sending Tool appeared first on Bitcoin News.

Bitcoin News

Bitcoin Is a Weapon for Free Speech in the Face of Government and Corporate Censorship

October 15, 2019 |

Bitcoin as Free Speech Money: Government and Corporate Censorship Shows the Value of Financial Sovereignty

The latest skirmishes in the bruising trade war between the U.S. and China have led to the unlikely politicization of the NBA. But how did the views of a basketball executive become such a political football? And what does China’s ideological commitment to censorship say about the value of free speech and of free speech money, as bitcoin is sometimes known?

Also read: Berlusconi Admins Disappear — Darknet Users Rush to Find Alternatives

US-China Censorship Spat Highlights the Value of Free Speech

The Communist Party’s gangsterish demands on private companies is nothing new, but the recent decision by Houston Rockets general manager Daryl Morey to tweet support for pro-democracy protestors amid bedlam in Hong Kong quickly exposed just how fragile the notion of ‘free speech’ really is. In the face of opprobrium from Beijing, Morey’s climbdown, augmented by groveling input from Rockets owner Tilman Fertitta and NBA spokesman Mike Bass, was pitiful to behold. But it hinted at the wider problem of gutlessness among companies that have provoked the ire of the Chinese government.

Bitcoin Is a Weapon for Free Speech in the Face of Government and Corporate Censorship
American leftists see an offensive frog. The Chinese see an offensive bear.

Basic Rights and Backdoor Entry Points

A curated list of companies that have kowtowed to Chinese censorship requests, maintained on Github, is damning. As well as the NBA, the roll of shame includes Apple, Marriott, Nike, ESPN, several of the world’s largest airlines like British Airways, Qantas and American Airlines, and Versace. With trade talks between the US and China underway in Washington, the specter of censorship, while not on the agenda, will loom large over proceedings.

Bitcoin Is a Weapon for Free Speech in the Face of Government and Corporate Censorship
Some of the US companies to have self-censored.

Both nations have a lot to answer for as far as free speech, privacy, money and other basic human rights are concerned. China’s persistent assault on freedom seems more flagrant, but the U.S. – and, for that matter, other western nations – hardly cover themselves in glory. Attorney General William Barr recently squeezed major tech companies to provide government agencies with backdoor entry points for encrypted devices and software. It remains perfectly legal for citizens throughout the world to be fired by their employer or interrogated by customs for something they’ve said on social media – even when it occurred years ago.

Who Watches the Watchers?

Edward Snowden’s exposè of rampant state surveillance shows that when it comes to assembling a digital panopticon that’s always watching, the Americans are even more ruthless than the Chinese. At least in China you can see the cameras observing you; there’s no such courtesy when the U.S. agencies activate your webcam and start recording.

Speaking of surveillance and its insidious incursion into people’s lives, the Washington Post just reported that more than 400 police departments across the U.S. have entered into surveillance partnerships with Amazon’s camera-enabled doorbell company, Ring. It’s yet another way in which the government is utilizing tech, while co-opting big business to bear down upon civil rights and liberties.

Bitcoin Is a Weapon for Free Speech in the Face of Government and Corporate Censorship

In the modern world, digital freedom is everything. The bulk of our lives now unfold online: our conversations, our financial transactions, our very identities. What we are witnessing, increasingly, is free speech being smothered via the deplatforming of certain voices and an attempt by governments to introduce regulatory oversight on financial transactions which goes beyond ensuring proper taxation, but – under the guise of crime prevention – impinges upon privacy at a fundamental level. When governments seek to blunt-force encrypted devices and software, it requires a stupefying level of naivety to assume that their motivation is cracking down on kiddie porn.

Value and dignity exist in an internet where speech, financial autonomy and other basic rights are not controlled by government agencies or international conglomerates. Where our private data is not commoditized and sold to the highest bidder, and where we have the right to lives that are not the object of constant and unforgiving scrutiny.

Bitcoin Is a Weapon for Free Speech in the Face of Government and Corporate Censorship

The Value of Free Speech Money

Avoiding inference from third parties in the form of censure (deplatforming) and restriction of speech are basic desires shared by all digital citizens. This is why, when the topic of censorship and governmental overreach rears its head, Bitcoin isn’t far behind. Being able to process payments on the internet without permission or risk of confiscation is a privilege that provokes a desire to exercise the same level of freedom in other realms. To harness fully open source, secure and private systems of expression that are immune to the tentacles of power.

If the convergence of state and corporate interests continues unchecked, we are all imperilled; Chinese, American, or otherwise. Seized bank accounts, stolen information, frozen assets and ever greater attempts to stifle free speech and freedom of association will become the norm, and not just for those existing on the fringes, but for the masses. Is it any wonder that protestors harness technology to combat the might of the state? Tools such as PGP, Bitcoin, and decentralized networks allow individuals to conduct their affairs without permission from any bank, corporation or government.

A Time for Reckoning

While the summit in Washington is focused on matters such as trade imbalances and intellectual property violations, at an individual level we have bigger questions to ask of ourselves. Are we prepared to endure online censorship and a veritable onslaught on our civil liberties? Or are we willing to fight for an internet that does not function as an arm of the state but as an open platform for the free exchange of ideas and value? A censorship-resistant internet benefits everyone. It also benefits Bitcoin, for where there’s free speech, there’s demand for free speech money.

Do you think free speech and financial sovereignty as provided by Bitcoin are interlinked? Let us know in the comments section below.

Op-ed disclaimer: This is an Op-ed article. The opinions expressed in this article are the author’s own. 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.


Images courtesy of Shutterstock.


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Bitcoin Cash Outshines BTC Retail Spending in Australia by a Wide Margin

October 13, 2019 |

Bitcoin Cash Outshines BTC Retail Spending in Australia by a Wide Margin

The BCH-centric web portal Bitcoinbch.com published on September 13 an in-depth report that shows the aggregate of cryptocurrency expenditure for Australian retail businesses. According to the 10-page document, BCH transactions in the country exceed BTC transactions by a wide margin and BCH is the top digital currency in Australia.

Also read: Bitcoin Cast Program Gives Guests a Unique SLP Token

In Australia, Bitcoin Cash Is Soundly #1

This week the website Bitcoinbch.com revealed a report that covers cryptocurrency usage in Australia in regard to Australian merchants that support digital currencies for products and services. The research combs through the various payment processors and point-of-sale systems located throughout the country. Sources used in the analysis stem from the underwriting firms Travelbybit (TBB) and Hula (Hockings Underwriting Logistics App).

Bitcoin Cash Outshines BTC Retail Spending in Australia by a Wide Margin

The multi-coin payment processor TBB started operations in 2017 and has around 195 merchants to-date. Hula was launched two months ago and the company has roughly 17 retailers utilizing the underwriting system. “This report captures and analyses the majority of all merchant cryptocurrency payments in Australia for the month of September 2019 by harvesting data from both the underwriting systems,” explains the report’s author and Bitcoinbch.com CEO Hayden Otto.

“Cryptocurrency adoption in Australia has taken some interesting turns — Today there is an obvious shift toward a mono-cryptocurrency adoption policy, where merchants have chosen to accept Bitcoin Cash (BCH) only rather than point-of-sale systems supporting a basket of different cryptos,” the report highlights. Otto’s study continues:

Further, a large percentage of these merchants have chosen to accept Bitcoin Cash (BCH) in a purely peer-to-peer fashion rather than by way of payment processors.

Bitcoin Cash Outshines BTC Retail Spending in Australia by a Wide Margin

Bitcoin Cash Accounted for 92% of Australia’s Crypto-Based Retail Sales

The study of cryptocurrency retail sales in Australia for September 2019 notes that approximately $ 39,405 were spent across 625 separate transactions. “The vast majority of economic activity occurred on the Bitcoin Cash (BCH) blockchain,” the report mentions. Bitcoinbch.com’s summary says the combination of datasets between TBB and Hula clearly shows that “BCH is by far the preferred choice for Australian users of electronic cash.” BCH sales dominated by 92.45% while Lightning Network had 3.1% and traditional onchain BTC transactions turned out to be 1.9%. Cryptocurrencies like LTC, BSV, and ETH are barely seen on the scope of data with 0.01% to 0.19% of retail sales.

Bitcoin Cash Outshines BTC Retail Spending in Australia by a Wide Margin

Bitcoinbch.com’s analysis also points out that TBB has only enabled BCH as a minority on the company’s PoS system. Despite the policy, BCH still captures “the 3rd most spent and 2nd most transacted among their supported cryptocurrencies.” Otto recommends that TBB change its policy to be more accepting of BCH from a business perspective. Additionally, when observing the transactions processed by each service, Hula commands 76% of the $ 39K spent while TBB is only processing 24%. “The data confirms that Bitcoin Cash (BCH) is fulfilling the original promise of Bitcoin as “Peer-to-Peer Electronic Cash” of a fast, reliable, secure, and efficient currency,” the report emphasizes. Bitcoinbch.com’s research further stresses:

Bitcoin Cash (BCH) alone accounted for 92.45% ($ 36,431) of all cryptocurrency spent and 80.3% (502 tx) of all cryptocurrency transactions in Australia.

Bitcoin Cash Outshines BTC Retail Spending in Australia by a Wide Margin

The study concerning cryptocurrency expenditure for retail businesses shows that at least in Australia BCH has surpassed BTC in the retail space by a longshot. The 10-page report underscores that BCH outspent BTC by 48.93 to one and had 20x the transaction count. Otto concedes by saying that the BTC experiment seems to have run its course or at the very least has a lot to accomplish to even catch up to the number of BCH transactions spent. “Bitcoin Cash is soundly number one,” the report concludes.

What do you think about bitcoin cash transactions used in retail outshining BTC transactions spent in Australia? Let us know what you think about this subject in the comments section below.


Image credits: Shutterstock, Bitcoinbch.com, cryptocurrency expenditure report, Fair Use, Wiki Commons, and Pixabay.


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Bitcoin Cast Program Gives Guests a Unique SLP Token

October 13, 2019 |

Bitcoin Cast Program Gives Guests a Unique SLP Token

Bitcoin Cash has been around for quite some time, but lots of individuals are still learning about the innovative technology each and every day. One particular way people can be kept up to date with crypto-related news and learn about the benefits of Bitcoin Cash (BCH) is through podcasts and streaming media. The Bitcoin Cast show is a BCH-centric program hosted on Youtube that covers user and merchant adoption throughout the BCH ecosystem.

Also read: Slovenia Has the Most BCH-Accepting Physical Locations Worldwide

Focusing on User and Merchant Adoption

There are numerous methods and resources available for people who want to be kept abreast of all the Bitcoin Cash happenings and gain some knowledge on certain aspects of the BCH technology. Streaming media and podcasts are great mediums for people to absorb this kind of information, with shows that break everything down in readily understandable fashion. However, some crypto shows are filled with nonsensical price predictions and broadcast hosts who could care less about user adoption. In contrast to those crypto shows, the Bitcoin Cast Youtube program hosted by BCH proponents Christian and Tao Jones is a different story. During the beginning of every episode of Bitcoin Cast, the show intro says: “Unlike other shows, we are not here to focus on price — Join us as we cover some more user and merchant adoption of Bitcoin.”

Bitcoin Cast Program Gives Guests a Unique SLP Token
Bitcoin Cash supporters Tao Jones (left) and Christian (right) from Bitcoin Cast.

News.Bitcoin.com recently covered an interesting episode of Bitcoin Cast when show host Christian spoke with Oscar Salas, organizer of the Maracaibo city, Venezuela BCH meetup. Bitcoin Cast gives listeners a unique perspective on user and merchant adoption within the BCH ecosystem as the show hosts discuss various subjects surrounding BCH. The program’s 36 episodes also feature a wide array of well known BCH developers, executives, influencers, and enthusiasts. Show guests include Jose from Eatbch, Code Valley’s Noel Lovisa, Bitcoin.com Podcast host Matt Aaron, Free Talk Live’s Ian Freeman, and Cointext CTO Vin Armani. Bitcoin Cast can be found on Youtube and Dlive, and the show also leverages the latest BCH tipping service for livestreamers tipbitcoin.cash. The show hosts are big believers in the community and the broadcast’s fans and guests get thanked regularly on Twitter.

Bitcoin Cast Launches a Token That Bolsters Community Appreciation for Guests Spreading Bitcoin Cash Awareness

Just recently, Bitcoin Cast revealed that an SLP token was created for the show and the token is only given to past guests. The token was created so the program’s guests who are known for spreading user and merchant adoption can be rewarded in a decentralized manner. Essentially, anyone can send the Bitcoin Cast show’s guests a BCH payment via Bitcoin.com’s SLP dividend payment calculator. The tool lets users send BCH dividend payments to token holders and also allows people to airdrop SLP tokens to token holders as well. “All you need to do is paste the token ID into the Bitcoin.com SLP dividend calculator,” explained Bitcoin Cast on Twitter. Further, Christian created a 5-minute tutorial video about the Bitcoin Cast SLP token so fans can get a grasp of what the token is all about. “Thanks in advance for any donations sent,” the Bitcoin Cast video description on Youtube states.

Bitcoin Cast Program Gives Guests a Unique SLP Token
The Simple Ledger Protocol (SLP) token created by Bitcoin Cast.

When you want to learn about Bitcoin Cash or relax and listen to a casual show about the BCH environment, Bitcoin Cast hits the spot. Alternatively, there are a few other Youtube shows, podcasts, and livestreamers that cover BCH in great detail. There are listening programs like Collin Enstad’s Collin’ It Like It Is, the Coinspice podcast with C. Edward Kelso, the popular Youtube show Crypt0, and Bitcoin.com’s podcast network with show host Matt Aaron.

Bitcoin Cast Program Gives Guests a Unique SLP Token
The Bitcoin Cast channel has 36 episodes with all types of different guests who help bolster BCH adoption and awareness.

As videos and streaming media continue to grow in popularity alongside the growth of the Bitcoin Cash network, you can guarantee there will be more and more great BCH content available on the web. The Bitcoin Cast show is a unique program for people who just want to focus on what they care about: BCH user and merchant adoption. At the same time, Bitcoin Cast viewers can show community appreciation for the show’s prior guests with the unique SLP token idea. Check out the intro video for the Bitcoin Cast token below.

Have you seen the Bitcoin Cast show? What do you think about the Bitcoin Cast SLP token idea? Let us know what you think about this subject in the comments section below.


Image credits: Shutterstock, Pixabay, Jamie Redman, Bitcoin Cast, Fair Use, Youtube, and Wiki.


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