Million Archives -
This week Bitcoin.com reached a milestone of a whopping 2.5 million Bitcoin.com Wallets created in less than a year. Since we started our web portal we’ve focused on providing people with world-class resources that fit every bitcoiner’s needs and our simple-to-use wallet is no different.
The 2.5 Million Milestone is the First Step Towards Our Goal to Provide a World-Class Cryptocurrency Wallet to Billions of People
The Bitcoin.com Wallet was launched on August 25, 2017, just a few weeks after the Bitcoin blockchain split that took place on August 1. Since then our light client that supports both Bitcoin Cash (BCH) and Bitcoin Core (BTC) has become very popular and the amount of wallets created in so little time has been thrilling to watch. We think that the popularity of our wallet is due to the fact it is so easy to use, and you can send bitcoin wherever you are in the world. Not only that but our lightning fast wallet is safe and secure while at the same time allowing individuals to hold their private keys in a non-custodial fashion.
Further, the Bitcoin.com Wallet comes with a myriad of features that allow individuals to do more than just send and receive cryptocurrencies. The Bitcoin.com Wallet is also tethered to our first class blockchain explorer so you can verify all of your transactions. Moreover, we provide real-time charts, and a portal where you can purchase bitcoins effortlessly. Our client also enables users to create shared wallets that utilize the innovation of multi-signature technology. Meanwhile, Bitcoin.com’s wallet provides a shapeshifting feature where users can swap between BCH and BTC effortlessly by utilizing the popular Shapeshift API.
Bitcoin.com’s wallet product manager, Alfonso Rocha, was pumped to see how popular the client has become and he believes 2.5 million wallets created in eleven months is a landmark occasion.
“We are so pleased that 2.5 million wallets have been created. It just shows how many people find our wallet useful and proves that it’s the best place to use and store their bitcoin cash — People trust us,” Rocha detailed.
We are also continuously working every day to make sure we have the best wallet out there. The quality of what we produce is as important to us as it is to our customers.
Open Source and Available for Your Operating System Today
Alongside all these features, the Bitcoin.com Wallet is open source so individuals can review the client’s source code on Github at any time. So if you are looking for an easy-to-use bitcoin wallet that allows you to store your own private keys then the Bitcoin.com Wallet is the perfect choice for your storage needs. The innovative light client is available today for iOS, Android, Linux, Windows and OS X devices.
Here’s a rundown of just a few of the benefits the Bitcoin.com Wallet offers:
- Multiple wallet creation and management in-app
- Creates both Bitcoin Cash (BCH) and Bitcoin Core (BTC) wallets by default
- Intuitive, multi-signature security for personal or shared wallets
- Easy spending proposal flow for shared wallets and group payments
- BIP32 Hierarchical deterministic (HD) address generation and wallet backups
- Device-based security: all private keys are stored locally, not in the cloud
- Customizable wallet naming and background colors
- Multiple languages supported
- Support for over 150 currency pricing options and unit denomination in BTC or bits.
- Lightning fast transactions.
Have you tried the Bitcoin.com Wallet? Let us know what you think about the wallet in the comment section below.
Images via Shutterstock, and Bitcoin.com.
Need to calculate your bitcoin holdings? Check our tools section.
The post Bitcoin.com Celebrates 2.5 Million Wallets Created in Less Than a Year appeared first on Bitcoin News.
China Round-Up: Scholar Advocates Permissive Regulations, 3 Million Estimated Chinese HODLers, Xiaolai Recording LeaksJuly 7, 2018 | dailybusinessnews
In recent Chinese cryptocurrency news: a prominent scholar has advocated that China adopt a permissive regulatory apparatus, drawing influence from Japanese and U.S. legislation. Research conducted by the International Monetary Institute at Renmin University of China has estimated that the number of Chinese bitcoin investors exceeds 3 million, and an audio recording of famed bitcoin millionaire, Li Xiaolai, giving a scathing appraisal of several leading altcoins has been leaked.
Chinese Scholar Advocates Permissive Regulatory Framework
The vice president of the Internet Finance Law Research Institute of the Beijing Law Society and professor of finance at the China University of Political Science and Law, Hu Jiye, recently advocated that China develop a permissive, western-styled regulatory apparatus pertaining to cryptocurrencies.
During a recent interview with Chinese media outlet, Dayqkl, Mr. Jiye praised the regulatory efforts of Thailand and the United States, and described Japan’s current legislative apparatus as the most advanced globally.
Of recent Thai regulations, Mr. Jiye stated “In my opinion, the Thai government is taking a rather proactive approach towards regulating the field of cryptocurrencies. Relevant legislation reflects the combination of prudential supervision and innovative promotion. If a digital currency tends to be used in an indirect financing market, it is more likely to be defined as a currency; and if a digital currency is more used in the direct financing market, its securities attributes are stronger.” Mr. Jiye also expressed reverence for the Japanese regulatory regime for activities related to virtual currencies, describing such as the most advanced globally.
Ultimately, Mr. Jiye advocated that China’s regulatory institutions adopt a permissive regulatory apparatus drawing upon the achievements of the aforementioned jurisdictions, proposing the development of unified regulations developed by China’s central bank, the China Securities Regulatory Commission, and the China Insurance Regulatory Commission. “We should gradually build a mature legal system for blockchain finance and digital currency regulation and I believe blockchain finance and digital currency industry have great development potential in China,” he stated.
Number of Chinese HODLers Estimated to be 3 Million
According to Chinatimes, Li Honghan, a research at the International Monetary Institute of Renmin University of China, recently discussed the current state of cryptocurrency in China whilst speaking at the “New Financial Trends and 2018 Financial Technology Summit” in Beijing.
Despite China’s prohibitive policies regarding cryptocurrency exchanges and initial coin offerings, Mr. Honghan estimates that more than three million Chinese citizens presently own bitcoin. With China’s current population estimated to be nearly 1.38 billion, Mr. Honghan’s estimates would suggest that 0.2174% of Chinese citizens own bitcoin.
Mr. Honghan also predicted that distributed ledger technology will revolutionize the copyright, financial data, and securitization industries in China.
Recording of Li Xiaolai Offering Scathing Appraisal of Several Leading Altcoins Leaks
An audio recording of Li Xiaolai, a man described by South China Morning Post as “China’s most high profile bitcoin tycoon,” has been leaked. In the recording, the bitcoin millionaire gives a critical assessment of China’s cryptocurrency sector, describing many of the industry’s leaders as “cheaters.” The Bitfund founder also criticizes a number of leading cryptocurrencies by market capitalization and trade volume – particularly Qtum (of which he was involved with promotion), Neo, and Litecoin.
Mr. Xiaolai asserts that very little money can be made in a bear market, arguing that prominent crypto figures should seek to amass a large social following during cryptocurrency’s winter seasons – and seek to capitalize upon such during bull markets.
The Bitfund founder also describes retail investors as “leaks” – a derogatory term referring to inexperienced traders who are “harvested” by experienced investors with deep pockets.
Do you think that China will eventually move towards adopting a permissive regulatory apparatus regarding cryptocurrencies? Share your thoughts in the comments section below!
Images courtesy of Shutterstock, Pixabay, Everipedia
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A study by the Ontario Securities Commission reveals that over half a million people, 5 percent of Ontario residents, currently own cryptocurrencies. The report also shows how they invest, how many owned crypto in the past but not anymore, and details of those investing in tokens.
5% of Ontarians Have Crypto
The Ontario Securities Commission (OSC) published a study last week entitled “Taking Caution: Financial Consumers and the Cryptoasset Sector.” The report describes:
Five percent of Ontarians currently own cryptoassets. Based on recent population estimates, this figure translates into over 500,000 Ontarians currently holding at least some cryptoassets. An additional 4 percent of Ontarians owned cryptoassets in the past but no longer do.
More specifically, the Canadian Department of Statistics currently shows an estimate of 14,374,084 citizens in the province. This equates to 718,704 Ontarians presently holding some type of cryptoassets.
Furthermore, half of cryptoasset owners spend less than $ 1,000 on their cryptocurrencies, with 90 percent spending under $ 10,000. Meanwhile, about 50,000 Ontarians spend more than $ 10,000.
This study is based on background research by the OSC Investor Office as well as a survey of over 2,667 Ontarians aged 18 and older, carried out between March 14 and 22. The survey includes “an oversample of 1,506 men aged 18-34,” because of “its higher expected propensity, based on prior research, to own cryptoassets compared to the rest of the public.”
According to the report, “Men aged 18-34 were substantially more likely to report owning a cryptoasset than the general public, with 14 percent reporting that they currently own a cryptoasset.”
The survey sample was then “weighted down to n=1,000 by age, gender and region using the latest Statistics Canada Census data to reflect the actual demographic composition of the adult population residing in Ontario.”
While citing that only a small percentage of Ontarians own cryptoassets, the OSC wrote:
Ontario’s large population means that even small percentages can collectively translate into substantial numbers—numbers sufficient to concern the OSC as a securities regulatory authority.
1.5% Ontarians Have Participated in ICOs
The report additionally details how Ontarians participate in ICOs. Half of past and present cryptoasset owners said that they believe ICOs are not subject to regulation or do not know who regulate them. “This belief is incorrect,” the Commission clarified. “The OSC regulates ICOs that constitute securities offerings.”
Most respondents reported having obtained their information about ICOs through social media, friends and family, as well as online ads and email. According to the report:
About 1.5 percent of Ontarians have participated in an ICO. This percentage translates to about 170,000 Ontarians who have participated in an ICO.
What do you think of the OSC’s research? Let us know in the comments section below.
Images courtesy of Shutterstock and the OSC.
Need to calculate your bitcoin holdings? Check our tools section.
The post Canadian Securities Commission: Over Half a Million Ontarians Currently Holding Crypto appeared first on Bitcoin News.
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Bithumb, South Korea’s largest crypto exchange announced on its website that between Tuesday evening and Wednesday morning, Korean time, 35 billion won (about 31.5 million USD) worth of cryptocurrencies vanished. Just a few hours later, the announcement was taken down, along with promises of compensation. At press time, it appears Twitter announcements of the heist remain published without explanation.
Korean Bithumb Loses $ 31.5 Million Less Than 2 Weeks After Coinrail Attack
Bithumb is the second Korean exchange targeted by cyber thieves in less than two weeks. Earlier this month, Coinrail, South Korea’s seventh-largest cryptocurrency exchange, announced that it was hacked, losing between $ 37.2 and $ 40 million in altcoins, according to local media.
Around 9 a.m. on Wednesday, Bithumb informed the public in a Tweet that it was temporarily suspending deposits and changing its wallet system due to increasing safety issues. Bithumb apologized for the incident, asking its customers “not to deposit any funds into Bithumb wallet addresses.” This second attack in less than a month highlights the vulnerabilities faced by cryptocurrency exchanges.
“The loss will be compensated by Bithumb’s own reservoir,” the exchange told Yonhap News and also stated that “all of clients assets in safe cold wallet,” which operates on platforms not directly connected to the internet.
Markets Momentarily Rocked
In South Korea, the price of bitcoin fell 3.88 percent to 7.23 million won as of 11:00 a.m., according to another cryptocurrency exchange, Btrade, Yonhap News reported. Ripple and Ethereum reportedly declined 3.16 percent and 4.22 percent.
Bithumb is one of the largest exchanges in Asia, with a daily trading volume of over $ 330 million, according to Coinmarketcap. A Bithumb spokesman has confirmed over the phone to News.Bitcoin.com that it does not know which virtual currencies exactly were stolen at this point, and did not mention whether it was indeed a hack. Bithumb trades more than 37 different crypto currencies, according to its homepage.
Do you think the Bithumb hack spells doom for the coin? Let us know what you think of this subject in the comments below.
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 Pulse, another original and free service from Bitcoin.com.
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