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Group or Tokeda? A Look at the BCH Color Coin Debate

July 11, 2018 |

OP_Group or Tokeda? A Look at the BCH Color Coin Debate

This week Andrew Stone, the lead developer of Bitcoin Unlimited (BU), published a 42-page paper that details the evolution of the original OP_Group proposal. Now simply called ‘Group,’ the proposal involves a single OP_Code that could be added to the Bitcoin Cash (BCH) network’s scripting language in order to effectively create colored coins. However, unlike other representative token protocols like Omni or Counterparty, if the Group protocol was used it would require a protocol change, and miners would validate colored coins within the confirmation of normal transactions.

Also read: Bitcoin ABC Developers Publish Bitcoin Cash Upgrade Timeline

Bitcoin Unlimited’s Andrew Stone Publishes the Evolution of the Group Proposal

OP_Group or Tokeda? A Look at the BCH Color Coin DebateEarlier this week, news.Bitcoin.com reported on the upcoming Bitcoin Cash (BCH) network upgrade that will take place in November. The Bitcoin ABC development team revealed a timeline of certain goals like building and polishing the 0.18 ABC software and launching the client by October 15. However, the developers didn’t detail exactly what will be included in the next upgrade.

A few days later, Bitcoin Unlimited’s Andrew Stone published the evolution of the OP_Group proposal which is an implementation that could effectively add a plethora of features like representative tokens. Although, the Group proposal does not have broad consensus just yet as other developers have alternative ideas for colored coin creation and some think the OP_Group may be risky.

Group Could Extend the BCH Script Language to Allow a Plethora of Features

Bitcoin Unlimited’s lead developer Andrew Stone believes the community should listen and participate in the colored coin discussion. Alongside publishing the 42-page document, Stone has also left a video of the discussion that features the BCH ‘Token Work Group.’ The group consists of developers such as BU’s Stone, and Andrea Suisani, Bitcoin.com’s Emil Oldenburg, Bitcoin ABC’s Amaury Sechet, Shammah Chancellor, Jason Cox, Nchain’s Steve Shadders, Daniel Connolly, and the Electron Cash developer Jonald Fyookball.      

“This is the evolution of the original OP_Group proposal — It’s no longer an opcode, so name change,” Stone explains. “The document is a bit long but that’s because it lays out a roadmap to extending the BCH script language to allow some pretty awesome features but at the same time preserving bitcoin script’s efficiency. For example, in the end, I show how you could create a bet with OP_Datasigverify, and then tokenize the outcome of that bet to create a prediction market.”

I strongly urge people to listen carefully to this discussion, even if you are not that interested in tokens, as it shows pretty clear philosophical differences that will likely influence BCH development for years to come.

OP_Group or Tokeda? A Look at the BCH Color Coin Debate

Some Proponents Disagree With OP_Group and They Believe Tokenization Can Happen Without Making BCH Consensus Changes

Basically, Bitcoin Cash proponents who disagree with Stone’s Group proposal favor tokenization ideas that don’t require a change to the BCH codebase. Further, some people believe it would be safer to use protocols that work outside the main chain and operate like a sidechain or something similar. Another idea being discussed is ‘Tokeda,’ a token-driven metadata proposal written by Joannes Vermorel. The 31-page Tokeda proposal is also an early draft last updated, March 30, 2018, that is incomplete, explains Vermorel.

“Tokeda addresses both the challenge of viably preserving an unbounded amount of metadata without endangering Bitcoin itself and the challenge of introducing tokens within Bitcoin by weaving the two problems through aligned economic incentives,” explains Vermorel’s paper.

Tokeda is compatible with stateless wallets (which include SPV wallets) and requires no consensus change. As a token scheme, Tokeda relies on a trust-but-verify security model centered around the issuer.

Vermorel believes the BCH community needs to learn from the scaling issues the Ethereum network faces by making tokenization simpler.

“Since, it is now clear that tokenization does not require a change of the base protocol, it’s up to the market to deliver solutions, based on Tokeda, or anything deemed superior,” Vermorel details. “If there is one lesson to be learned from ETH it’s violating the locality principle in your design kills the scalability.”

A Matter of Opinion and the Benefits of a Universal Method that Creates Permissionless Tokens

Many others have stated their opinions concerning Stone’s Group proposal and Vermorel’s Tokeda. Following Stone’s published paper, Jonald Fyookball revealed some of his subjective valuations in a paper called ‘Thoughts on Tokens for BCH.’

“Whether or not we should change the BCH protocol to add GROUP is a risk/reward question and a matter of opinion,” Fyookball states. “Part of what made ERC20 so successful is how easy it is for anyone to create and issue a token, and for the ecosystem to support it. The BCH protocol already allows colored coins but no one uses it because the ecosystem doesn’t support it.”

In any case, I believe BCH would greatly benefit from a universal method for doing SPV-friendly, permissionless tokens.

What do you think about the Group proposal described by BU’s Andrew Stone? What do you think about other ideas like Joannes Vermorel’s Tokeda? Let us know your thoughts on this subject in the comment section below.


Images via Shutterstock, Pixabay, and Youtube.


Want to create your own secure cold storage paper wallet? Check our tools section.

The post Group or Tokeda? A Look at the BCH Color Coin Debate appeared first on Bitcoin News.

Bitcoin News

A Look at the Long and Annoying Process of Claiming Bitcoin Forks

July 7, 2018 |

Over the past year, there has been a lot of forked coins based on the Bitcoin Core (BTC) codebase in various forms and with all types of interesting names. There are anywhere between 40-70 forked coins in the ecosystem that are worth a few bucks, while some of them are worthless and not worth the time to claim. Over the past three weeks, news.Bitcoin.com started the process of collecting as many forks as we can, just to see if the processes are easy or how hard it is to claim these tokens.

Also read: Presidential Decree Sets the Stage for Legalizing Cryptocurrencies in Uzbekistan

Attempting to Claim the Vast Quantity of BTC Forks

If you’ve been in the cryptocurrency space for a few years, you have definitely heard about all the forked bitcoins in existence. At the time of writing, there are roughly 40-70 coins that are snapshot-like clones with major to minor differences that reflect the BTC codebase from a certain period of time. There is bitcoin diamond (BCD), bitcoin private (BTCP), bitcoin gold (BTG), bitcoinx (BCX), bitcoin god (GOD), new bitcoin (NBTC), bitcoin cloud (BCL), bitcoin holocaust (BTHOL), bitcoin smart (BCS), and many more. Seeing how there are so many and some do have a little value, we decided to give our readers a taste of what it’s like to claim the myriad of BTC-based forks in existence.

Make Sure You Empty Your Wallet and Study the Claim Process Carefully

The first and foremost thing to do before beginning the process of claiming BTC forks is to take your BTC wallet and empty it into a completely different wallet, because you will need the empty wallet’s private keys. This means simply send your funds to a different wallet and you can now use the old seed phrase or private key to begin the collection process. You should never do this with a wallet that still contains funds. Next up is the search for coins and there are a lot of them, but we also found that a great portion of these forks are still unattainable. News.Bitcoin.com used data collected from the website Forkdrop.io, and the latest research from Bitmex that also lists a vast collection of recorded BTC forks. We then further studied the extensive amount of walkthroughs and processes found online concerning fork collection.

A Look at the Long and Annoying Process of Claiming Bitcoin Forks
Forkdrop.io lists forks like the website Coinmarketcap.

Coinomi, Different Derivation Paths, and Ian Coleman’s Standalone Mnemonic Tool

One of the easiest ways to collect a good portion of BTC-based forks is the Coinomi application, which can be found on both Android and iOS mobile app stores. With Coinomi we were able to obtain four forks from the massive list of clones out there in existence with ease. This includes bitcoin gold (BTG), bitcoin private (BTCP), bitcoin atom (BCA), and bitcore (BTX). There are a few other BTC-based forks that Coinomi holds but for some reason, we were not able to obtain these coins using the platform. Further, not all BIP 39 formats are the same and we used a BRD Wallet seed which uses a different derivation path than other wallets. To get the private keys for our BRD Wallet seed and sweep them into Coinomi and other fork wallets we used Ian Coleman’s BIP 39 Mnemonic Code Creator standalone offline. Not only does the platform create seeds, it also reveals the private keys derived from mnemonic phrases in all formats like BIP 32, and BIP 44.

A Look at the Long and Annoying Process of Claiming Bitcoin Forks
Ian Coleman’s BIP 39 Mnemonic Code Creator.

You can download the client and use it offline and after entering the mnemonic phrase it will show you all the private keys to all the associated addresses and the extended private key as well. After entering an existing seed to an empty wallet, the tool will provide private keys that can be copy and pasted alongside scannable QR codes so people can sweep the private keys with a mobile phone. The tool also warns that some mobile scanners may be malicious and may save the scanned images.

A Look at the Long and Annoying Process of Claiming Bitcoin Forks
The Coinomi wallet for Android or iOS gives users access to a variety of BTC-based forks. We were able to claim bitcoin gold, bitcore, bitcoin atom, bitcoin z, and bitcoin private using Coinomi.

Electrum Wallet Forks, Shady Websites, and Blatant Scams

A Look at the Long and Annoying Process of Claiming Bitcoin Forks
The Electrum fork for bitcoin diamond (BCD). We were able to claim BCD using our existing seed.

After using both Ian Coleman’s tool and Coinomi, we then visited a few of the forked coin websites that offer different wallets and tools so you can claim tokens from an existing seed. We visited bitcoin diamond’s website and utilized the BCD forked version of Electrum. Other websites like bitcoin hush (BTCH) used other clients like the Agama wallet.

Visitors of these sites should note, a lot of them are insecure websites with no certificates and downloading some of the wallet clients could put your operating system at risk. Some forks are easy to obtain and others are extremely difficult and are completely unobtainable.

Super bitcoin was born on block height 498888. We were unable to obtain super bitcoin.

With a Wallet That Held 1 BTC and 30 Fork Websites Visited We Collected $ 85

From the BRD Wallet that once had 1 BTC in it, we were able to obtain approximately nine different forks out of 30 websites visited, which is valued at around roughly $ 85 USD worth of tokens. About a third of the sites we visited had security warnings and wallet tools were downright scams and seemed to be blatant attempts to steal keys, so we avoided them after a certain point during the attempted claim process. Some of the coins like BTG, BCD, BTCP were collected very easily. With other forks, even after obtaining them, users will find there is no exchange in their country that offers trading pairs with these forks, and some have zero exchange support making them impossible to sell.

Bitcoin file (BIFI) was born on block height 501225, there are supposedly 21.21 billion coins. We were unable to obtain bitcoin file.

The Processes Can Put Your Privacy and Operating System at Risk, and Depending on the Number of Funds — Collecting Forks With Very Little Value May Not Be Worth the Time  

Over the last three weeks collecting the $ 85 bucks worth of forks took well over 24 hours of time between visiting websites, and following the claim process for each coin. The energy put into claiming all of the forks is only worth it if you had a decent amount of BTC held in a wallet before the block heights of each token split. Not only is the process time consuming it also puts your privacy at risk when using an old wallet that once held BTC. This means someone could connect the dots back to your original wallet by referencing wallets that have claimed these forks.

Bitcoin hot (BTH) was born on block height 498848. BTH claims to have 2.1 billion coins, but we were unable to obtain BTH successfully.

With the amount of energy and shadiness involved with the process, it is not very likely that a lot of people have claimed these coins. This means the small number of users who have attempted and have collected these forks are far easier to trace. But if you want a few bucks and are willing to follow the processes in a secure manner it may be worth it to collect a bunch of these coins and sell them for something you truly believe in — Unless you absolutely think that the future of bitcoin hot (BTH) will revolutionize the planet.

What do you think about the fork claiming process? How many forks have you obtained over the last year? Let us know your thoughts on this subject in the comment section below.

Disclaimer: Walkthrough editorials are intended for informational purposes only. There are multiple security risks and methods that are ultimately made by the decisions of the user. There are various steps mentioned in reviews and guides and some of them are optional. Neither Bitcoin.com nor the author is responsible for any losses, mistakes, skipped steps or security measures not taken, as the ultimate decision-making process to do any of these things is solely the reader’s responsibility. For good measure always cross-reference guides with other walkthroughs found online.


Images via Shutterstock, Coinomi, Forkdrop.io, Bitcoin Hot, Super Bitcoin, Bitcoin File, Pixabay, and Ian Coleman’s BIP 39 tool.


Now live, Satoshi Pulse. A comprehensive, real-time listing of the cryptocurrency market. View prices, charts, transaction volumes, and more for the top 500 cryptocurrencies trading today.

The post A Look at the Long and Annoying Process of Claiming Bitcoin Forks appeared first on Bitcoin News.

Bitcoin News

Private equity sleight of hand makes so-so investments look superb, CalPERS says

July 3, 2018 |

Pension funds are taking aim at private equity firms for exploiting a financial sleight of hand that can make even mediocre investments look brilliant.

Discontent has been simmering for a couple of years, but now the California Public Employees’ Retirement System and others are more forcefully…


L.A. Times – Business

Obama: Look for Solutions, Not Saviors

June 29, 2018 |

Former President Obama, who has been largely absent from the political stage since leaving office, reemerged this week at a Democratic fundraiser in Los Angeles and delivered a pointed message to Democrats: calm down and start looking for solutions, reports the Los Angeles Times and Politico . “All these people that…
Newser

An Inside Look at the Electron Cash Wallet Coming to iOS

June 18, 2018 |

An Inside Look at the Electron Cash Wallet Coming to iOS

Just recently news.Bitcoin.com reported on the unique Electron Cash wallet alongside using the Cashshuffle plugin. Two weeks ago we were granted access to the Electron Cash iOS beta testing period, and we wanted to give our readers a sneak peek at what to expect when this bitcoin cash-centric light client launches.

Also Read: How to Shuffle Your BCH Coins Like a Boss

Electron Cash Is Coming to iOS

An Inside Look at the Electron Cash Wallet Coming to iOSThe Electron Cash wallet is a reputable bitcoin cash (BCH) wallet that’s been around for quite some time. At the moment the client is available for Mac, Linux, Windows, and Android for mobile phones. However, the wallet’s development team and lead developer Jonald Fyookball are in the midst of building the Electron Cash application for iOS users. Fyookball has allowed news.Bitcoin.com access to the beta testing using Apple’s Testflight system so we could experiment with the wallet, and share our experience with our readers.

Experimenting With Beta Version 3.2.0 on Testflight

When opening the wallet users are greeted by a neon-blue like screen that says Electron Cash, from here the user can choose a few options when they launch the app for the first time. The choices given are the usual create new wallet, import an existing seed, or use existing public or private keys. We created a new wallet and the Electron Cash iOS interface gave us a new twelve-word mnemonic phrase to write down. After finishing writing the seed down, the wallet asks you to re-type all twelve words, but it doesn’t take too long because words are predicted and easily-tappable after a few letters are typed. You also encrypt the wallet with a password, and are given the option to name it as well. Remember your password and mnemonic phrase give you access to your funds, and keeping them a secret is a top priority.

An Inside Look at the Electron Cash Wallet Coming to iOS

The Electron Cash iOS app always asks you for your password whenever you open it or if you want to sign an outgoing transaction. In the wallet interface there are five main settings which include wallets, addresses, coins, contacts, and the settings section. The wallet section is basically the main page you are greeted with after entering your password. It shows the name of the wallet(s) and you can toggle to different wallets in the first field on the top of the page. The page will also show you all the transactions that have occurred for that specific wallet. On the very top, there is a blue banner with a green light indicating the client is synced up and online. If it was red this would indicate the wallet is not online and synced to the BCH network.

Moving on to the addresses page it will show a bunch of addresses both used and unused. You can toggle between funded addresses and unfunded addresses, alongside if they are receiving or change addresses as well. The Electron Cash wallet allows users to create contacts by utilizing an individual or organizations’ address so you can easily send funds to any recurring contact. The coins area shows BCH transactions that have been sent or received but are not yet confirmed.

An Inside Look at the Electron Cash Wallet Coming to iOS

The Electron Cash Wallet Has Numerous Adjustable Settings  

The wallet’s settings section is where you can make a bunch of changes to the wallet, like change your password, and view your mnemonic phrase if you needed to see it again. In the settings, the Electron Cash iOS client has an address converter so a person can change a legacy address into the Cashaddr format. This section also offers a variety of features like the ability to change the fee to max static or the user can choose a custom fee. Below that where it says transactions, you can choose to utilize change addresses, multiple change addresses, and whether or not the wallet will spend only confirmed coins. Following this section, you can change the appearance, choose what block explorer you want to use. From here users can also set the fiat settings so you can view the value of coins in USD, EUR, and many other monetary units.

An Inside Look at the Electron Cash Wallet Coming to iOS

The wallet works very well for being in its beta (3.2.0) testing phase and Electron Cash users will be sure to enjoy this wallet. There were a few occasions where it was difficult to remove the keyboard and view the lower fields on the screen in the earlier versions we tried prior to the 3.2.0 upgrade released just the other day. Since then we’ve found the app works like a charm, and haven’t found any difficulties using it. The Electron Cash developers have also been looking for testers on the subreddit /r/BTC over the past few weeks in order to get feedback.

What do you think about the Electron Cash wallet for iOS? Let us know your thoughts on this subject in the comment section below.


Images via Shutterstock, Electron Cash, and Jamie Redman


Want a comprehensive list of the top 500 cryptocurrencies and see their prices and overall market valuation? Check out Satoshi Pulse for all that hot market action!

The post An Inside Look at the Electron Cash Wallet Coming to iOS appeared first on Bitcoin News.

Bitcoin News

A Look at a Few Exchanges That Use Bitcoin Cash as a Base Currency

June 14, 2018 |

A Look at a Few Exchanges That Use Bitcoin Cash as a Base Currency

Over the past ten months, the Bitcoin Cash network has received a lot of support from cryptocurrency companies that provide infrastructure support including exchanges. Even though other digital currencies have yet to obtain such success in so little time, some BCH proponents are in search for an exchange that uses bitcoin cash as the base currency, and many believe trading platforms that offer this feature will be key to mass adoption.

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

Coinex: The Exchange That Uses Bitcoin Cash as Its Base Currency

A Look at a Few Exchanges That Use Bitcoin Cash as a Base CurrencyMost cryptocurrency exchanges use bitcoin core (BTC) as the base currency that is traded against various other digital assets. At the moment bitcoin cash (BCH) only has three exchanges that use the decentralized cryptocurrency as a base currency and one of them just launched its beta release this past May. At the moment the most popular exchange that offers BCH base currency pairs is Coinex. The firm Viabtc announced the launch of Coinex back in December of 2017 and the trading platform offers BCH pairs with the most popular digital assets in the crypto space.

Viabtc’s chief operating officer, Sara Ouyang, explained that because BCH network fees were so low it prompted the firm to create the markets with bitcoin cash as the base currency.

“The reason we chose [BCH] over [BTC] is that it has much faster transactions with low fees and better performance in terms of usability,” Ouyang detailed at the time.      

A Look at a Few Exchanges That Use Bitcoin Cash as a Base Currency
Coinex Bitcoin Cash markets.

Coinex is also available on mobile operating systems like Android and iOS and provides global trading services in nearly 100 countries. Further, Coinex offers HTTPS and two-factor authentication and claims its cold storage funds are held by using a multi-signature strategy.

Panda Exchange Provides Traders With Bitcoin Cash Trading Pairs

Another trading platform that offers BCH pairs is the Panda Exchange — a cryptocurrency exchange that provides bitcoin cash pairs with ETH, ZEN, XRP, LTC, BTG, and others. The Panda Exchange is open to residents in the U.S., South America, Canada, and Portugal. The exchange recently announced that it has added a slew of new pairs and more will be added in the future.

A Look at a Few Exchanges That Use Bitcoin Cash as a Base Currency
The Panda Exchange offers BCH pairs traded against various cryptocurrencies such as LTC, ETH, and XRP.

   The Recently Launched BOA Exchange and Hello Group’s Upcoming Bitcoincash.io Trading Platform

Recently another exchange called BOA Exchange has launched a set of crypto-markets that use bitcoin cash as the base currency. The exchange is very new as the trading platform explains that it recently finished its beta phase this May and is now opening signups to the public.

A Look at a Few Exchanges That Use Bitcoin Cash as a Base Currency
BOA Exchange BCH markets. This platform just recently launched.

Lastly, Bitcoin Cash supporters will soon see another exchange that uses BCH as the base currency from the Cyprus-based company Hello Group. In February the firm announced it had purchased the domain Bitcoincash.io to host its BCH trading platform. When visiting the URL Bitcoincash.io, visitors are greeted by a picture that says ‘Bitcoin Cash — Coming Soon.”

A Look at a Few Exchanges That Use Bitcoin Cash as a Base Currency
The Cyprus-based firm Hello Group is launching an exchange that uses BCH as the base currency. When people visit the website Bitcoincash.io this banner comes up.

The BCH community believes there is a significant need for more of these exchanges in order to decouple the digital asset’s price from BTC. Many of them believe BCH is a perfect choice for a trading platform’s base currency, as its speed and low fees would make deposits and withdrawals much faster and cheaper. For now, BCH traders have Coinex, Panda Exchange, the newly launched BOA Exchange, and the upcoming launch of Hello Group’s BCH trading engine.

Do you want to see more exchanges offer BCH as the base currency for trading pairs? Let us know your thoughts on this subject in the comment section below.   

Disclaimer: 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 information with the mentioned exchanges. Readers should do their own due diligence before taking any actions related to the content.


Images via Shutterstock, Coinex, Panda Exchange, BOA Exchange, and Bitcoincash.io.


Now live, Satoshi Pulse. A comprehensive, real-time listing of the cryptocurrency market. View prices, charts, transaction volumes, and more for the top 500 cryptocurrencies trading today.

The post A Look at a Few Exchanges That Use Bitcoin Cash as a Base Currency appeared first on Bitcoin News.

Bitcoin News

As Bitcoin Futures Volumes Increase Credit Agencies Look to Downgrade Dealers

June 13, 2018 |

As Bitcoin Futures Volumes Increase Credit Agencies Look to Downgrade Dealers

This past April, news.Bitcoin.com reported on the Bitcoin futures markets offered by the two derivatives giants Cboe and CME Group and how contract volumes were steadily rising. This month, while BTC-spot prices slide to significant lows, both futures products from these two companies are still seeing increased demand for contracts.

Also Read: A New Cryptocurrency Radio Broadcast Launches on Boston’s FM 104.9

Bitcoin Futures Volumes Continue to Increase

Summer is here and the month of June has been extremely bearish for cryptocurrency markets that have been struggling to grasp just a taste of those all-time highs touched late last year. The most dominant digital asset market held by Bitcoin Core (BTC) has lost over $ 13,000 USD in value since it touched $ 19,600 per BTC in mid-December 2017. Most of the crypto bull run last year took place a couple months before the launch of Cboe and CME Group’s futures markets. Immediately after these two markets went live, BTC spot prices tumbled and have been extremely bearish over the past five months since those highs. Besides the first day’s opening volumes, these derivative markets were initially pretty dull with no action and some days there were less than a few hundred contracts per day.

As Bitcoin Futures Volumes Increase Credit Agencies Look to Downgrade Dealers
Cboe bitcoin futures volume for June 11, 2018.

Things have changed since then, as we reported this past April, both marketplaces have seen increased demand for bitcoin futures contracts over the last two months. CME Group’s BTC futures on June 11, after last weekend’s ‘bloody Sunday,’ saw volumes above 3,800 contracts for June expiries, and July contracts are starting to get attention as well. The bitcoin futures forerunner, Cboe, had over 8700 contracts for June 11, which indicates the bloodier the markets are, the more futures are being sold. Since April 25, when Cboe posted 19,000 contracts sold on that specific day, both Cboe and CME Group’s daily derivatives sales have been extremely active.

As Bitcoin Futures Volumes Increase Credit Agencies Look to Downgrade Dealers
June 11-12, 2018 CME Group Bitcoin Futures Volumes.

The Three Major Credit Agencies Contemplate Downgrading Businesses Who Clear Bitcoin Futures

As Bitcoin Futures Volumes Increase Credit Agencies Look to Downgrade DealersUnfortunately, because these contract volumes are gradually increasing clearing houses and financial institutions that handle bitcoin futures may see a credit downgrade. According to a recent report, the three large rating agencies, Fitch, S&P, and Moody’s, are contemplating downgrading banks that clear bitcoin futures. Back in October, 2016, Standard & Poor’s (S&P) Global published a report that detailed blockchain development would affect the credit ratings of banks that dealt with this technology. Then the credit agencies began discussing downgrading financial institutions this past February, if the volatile contract sales started to increase.

Fitch, S&P, and Moody’s give credit ratings to banks for certain criteria and because BTC-based futures are so volatile this adds a lot of ‘risk’ in the eyes of these agencies. If the three agencies move towards a credit rating downgrade, it could affect all clearing members that have exposure to these contracts, not just the banks providing them directly. Downgrades can affect a financial institution’s asset management, and lending requirements significantly. As spot prices drop to significant lows in the cryptocurrency world, many people are looking back in hindsight and wonder if these crypto-based futures products are the root cause of this bearish market. After all, look at what derivatives products did to precious metals markets and the countless other markets before it.

What do you think about the Bitcoin futures markets increasing and the credit agencies contemplating downgrading clearinghouses that deal with these products? Let us know in the comments below.


Images via Shutterstock, Pixabay, Cboe, and CME Group. 


Want a comprehensive list of the top 500 cryptocurrencies and see their prices and overall market valuation? Check out Satoshi Pulse for all that hot market action!

The post As Bitcoin Futures Volumes Increase Credit Agencies Look to Downgrade Dealers appeared first on Bitcoin News.

Bitcoin News

Does this dog look like a Saint Bernard? The questionable business of home DNA tests

June 12, 2018 |

A DNA test found that I’m 72.3% of Ashkenazi Jewish descent, thanks to ancestors from Ukraine. I expected as much.

It also determined that I’m 11.3% Scandinavian, 7.8% Spanish or Portuguese, and 3.1% Italian.

This is unexpected, both to me and my parents, who insist there are no secret Swedes or…


L.A. Times – Business

Bitcoin.Org’s New Look to Entice: Purges Bitpay, Coinbase, Blockchain References

June 9, 2018 |

Bitcoin.Org's New Look to Entice: Purges Bitpay, Coinbase, Blockchain References

A foundational crypto ecosystem website, Bitcoin.org, promoted its new look this week. Designed to be more enticing and up-to-date, the site’s changes involve more than just cosmetics and graphics. For example, it has removed references to incredibly popular resources such as Coinbase, Blockchain.com, and Bitpay.  

Also read: Russian Farming Village: Local Crypto, Bitcoin Reserves, No Govt Money

Bitcoin.org Gets a New Look, and More

The mysterious avatar Cobra, apparently a key figure behind the important educational resource Bitcoin.org, tweeted this week, “We’ve finally updated http://Bitcoin.org to look modern and fresh. Check out the new design. Now people learning about Bitcoin for the first time can be presented with a more up to date and responsive website!”

Bitcoin.Org's New Look to Entice: Purges Bitpay, Coinbase, Blockchain References

Unpacking changes to the site tells a complicated story, one that involves ongoing debates within the crypto space. Right away, those clicking over to the new site are indeed greeted with stock Wix-like landing pages. The tri-color scheme is handsome and masculine, sporting burnt oranges, white, black. Pages load nicely enough, fast. Links and layout are clean and easy to access, read.

Bitcoin.Org's New Look to Entice: Purges Bitpay, Coinbase, Blockchain References

Only a few clicks in, however, a few other changes emerge. Weathered and tested ecosystem businesses such as Coinbase, Blockchain.com, and Bitpay aren’t even alluded to. Any organization serious about onboarding new folks would be hard pressed to find three private firms more responsible for introducing newbies to experiencing crypto, no matter how flawed.

Bitcoin.Org's New Look to Entice: Purges Bitpay, Coinbase, Blockchain References

Org’s history is said to begin (August 2009) shortly after Bitcoin’s pseudonymous creator released the client’s first iteration, and the site quickly became known as the ecosystem’s homepage. Controversy remains about just who began the site much less who now maintains it. Fin core dev Martti Malmi is said to be a good guess due to early registration records and attributions. Today, social media bomb thrower @CobraBitcoin, itself an unknown personage, is widely considered Org’s head or manager.   

Mission Schizophrenia

Though the cosmetic upgrade is novel, Org removing some ideas and inserting new ones is not. As a first online educational source, it made the case for years how the promise of bitcoin was both peer-to-peer and relatively quick and cheap. To its credit, the site was one of the only bitcoin core (BTC) supporters to face reality by late 2017. Transactions were no longer fast, and various devs were actively proposing off chain solutions. Fees were huge.

Bitcoin.Org's New Look to Entice: Purges Bitpay, Coinbase, Blockchain References

By the start of this year, Cobra seemed to have a sobering change of heart, tweeting, “I feel like I’ve lost a piece of my soul after merging this pull request. At some point we all forgot that Bitcoin was supposed to be decentralized money, and we became OK with outrageous fees and centralized mining, all to chase the $ $ $ .” Prominent references to “peer-to-peer transactions” and “fast” and “low processing fees” were scrubbed from the site completely.  

The controversial bitcoin influencer went on to post pro bitcoin cash (BCH) arguments, or lauds, very clearly stunning supporters who expected less charitable appraisals of BCH. And though Cobra was and continued to be at least open to rebuilding the fractured community in BCH form, it was also equally obvious where ultimate sympathies lay.

Bitcoin.Org's New Look to Entice: Purges Bitpay, Coinbase, Blockchain References

Curiously, just a few months later, by Spring of this year, Cobra and Org once again decided to make an abrupt change, a restoration. Prior to the present design changes, the site reinserted phrasing once synonymous with bitcoin core. Peer-to-peer returned. As did the other traits. Rather than continuing down the path of a dark night of the soul, Cobra chalked up the previous Twitter lament as “temporary.”   

What do you think about Bitcoin.org’s changes? Let us know in the comments. 


Images via the Pixabay, Bitcoin.org


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 Bitcoin.Org’s New Look to Entice: Purges Bitpay, Coinbase, Blockchain References appeared first on Bitcoin News.

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