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| October 23, 2018

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Disney pulls the plug on its proposed luxury hotel in Anaheim, citing the loss of a tax break

October 11, 2018 |

The Walt Disney Co. has canceled plans to build a 700-room luxury hotel near its Anaheim resort, citing the city’s elimination of a tax rebate agreement that would have saved the media giant $ 267 million over 20 years.

The cancellation of the hotel — what would have been the fourth at the resort…


L.A. Times – Business

Proposed Crypto Mining Moratorium Rejected by County in Montana

September 30, 2018 |

Proposed Crypto Mining Moratorium Rejected by County in Montana

Montana’s second most populous county, Missoula County, has rejected the proposal for a moratorium on cryptocurrency operations. The proposal was first presented at a public hearing in June but was postponed for three months.

Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals

Proposed Crypto Moratorium Rejected

Proposed Crypto Mining Moratorium Rejected by County in MontanaMissoula County’s board of commissioners held a public hearing Thursday to decide whether to accept or reject the proposal for a one-year emergency moratorium on new or expanded cryptocurrency operations.

Crypto mining could be limited in the county “under temporary emergency interim zoning,” the Missoulian described. The mining moratorium proposal was first presented at a public hearing in June but the decision was postponed for three months “to give staff more time to consider various options,” the publication added.

After Thursday’s hearing, the county posted a notice on its website stating:

The commissioners voted not to adopt interim zoning, and instead directed staff to investigate the development of regulations targeting the impacts of concern such as noise, electronic waste, and energy.

Jennie Dixon from the county’s Community and Planning Services department revealed that 92 percent of about 80 written comments from 71 individuals supported the moratorium, the news outlet noted.

No Authority

Attorney Jaymie Bowditch represents Hyperblock Technologies, the parent company of Project Spokane, one of the companies operating a cryptocurrency mining operation in the Missoula town of Bonner. He explained:

In order to approve the one-year moratorium using interim zoning, they [the county] had to show an imminent threat to public health or safety. By extending the public hearing for three months, it showed that no immediate danger was posed.

Proposed Crypto Mining Moratorium Rejected by County in MontanaCommissioner Jean Curtiss was quoted by the publication confirming that “the county doesn’t have the authority that the state or cities may have to regulate one industry using the interim zoning.”

Commissioner Dave Strohmaier commented, “We are talking about the impacts themselves, not necessarily crypto mining as an industry — the noise, e-waste, possible excessive use of electricity that threatens our planet.” He was further quoted suggesting: “It may be that we need a much broader approach because of the potential this would be myopic. But I do have serious concerns about the energy use.”

Crypto Mining in Missoula County

The county has been trying to attract crypto miners to set up operations. According to its website:

Missoula County is an attractive place for locating cryptocurrency mining operations due to the region’s low electricity rates and cool weather which helps to keep equipment from overheating.

Proposed Crypto Mining Moratorium Rejected by County in MontanaThe county’s website also details that “Electric utilities that operate in Missoula County report receiving large numbers of inquiries from cryptocurrency mining firms.” Furthermore, there are “two commercial-scale cryptocurrency mining facilities” that are currently operating in the county, “as well as an unknown number of small home-based cryptocurrency mining operations.”

However, the website also points out some concerns regarding “the current and potential adverse impacts of cryptocurrency mining on the public health and safety of its residents.” These impacts include noise pollution, greenhouse gas emissions, electrical system reliability and safety, fire safety hazard, and electronic waste containing heavy metals and carcinogens.

What do you think of Missoula County rejecting the proposed crypto mining moratorium? Let us know in the comments section below.


Images courtesy of Shutterstock.


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

The post Proposed Crypto Mining Moratorium Rejected by County in Montana appeared first on Bitcoin News.

Bitcoin News

Proposed Cat Ban To Save Birds Ruffles Feathers

September 1, 2018 |

Omaui, New Zealand? It’s for the birds—that’s the vision of some people, at least. To that end, officials have come up with a plan to ban cats, blamed for decimating native wildlife, in the coastal village, Newshub reports . John Collins, a major proponent of the plan, tells the Otago…
Newser

The Opposition Towards Bitcoin ABC’s Proposed Upgrade Changes

August 10, 2018 |

The Opposition Towards Bitcoin ABC's Proposed Upgrade Changes

On August 8, the Bitcoin ABC development team published an announcement regarding the November hard fork changes with plans to finish the latest codebase by August 15. The proposal falls in line with the ABC developer’s upgrade timeline and contains about five different changes that will soon be ready for testing.

Also read: Bitcoin Cash Acceptance Grows — Dish Network and Flow Partner With Bitpay

Bitcoin ABC Publishes Plans and Consensus Changes for the Upcoming BCH November Upgrade

The Opposition Towards Bitcoin ABC's Proposed Upgrade Changes The Bitcoin Cash community has plans to upgrade the network once again with consensus changes this November. Just recently, news.Bitcoin.com reported on Bitcoin ABC developers announcing they will be releasing new code on August 15th for testing. On August 8, the ABC development team revealed the changes they plan to add to the 0.18.0 codebase that includes about five new features. The ABC developers say there’s only one week left before the official code-completion date and they want to remind and update the BCH community with the latest developments.

The new changes that have been completed and will undergo testing on August 15 include:

  • Canonical transaction ordering (more info here)
  • Enforcement of minimum transaction size of 100 bytes to prevent attacks on the Merkle tree (more info)
  • Activation code and implementation for OP_CHECKDATASIG and OP_CHECKDATASIGVERIFY (more info)
  • Make push-only mandatory for scriptsig (more info)

Another change that is currently still in progress, but expected to be ready by next week, is a modified fee structure which would allow a significant decrease in transaction fees. ABC programmers explain that a modified fee structure is not necessarily a strict consensus change, but nevertheless will be included in the 0.18.0 version. In addition to the announcement, the team also published two specifications for the overall hard fork, and for OP_CHECKDATASIG and OP_CHECKDATASIGVERIFY.

Craig Wright: ‘If a Certain Developer Wants This, Then We Will Fund Replacement Developers’

Of course, the announcement from Bitcoin ABC sparked a bunch of controversy due to certain additions within the code changes — most notably the activation of OP_CHECKDATASIGVERIFY (CDSV). Adding the change could allow developers to create binary contracts using the BCH chain, and Bitcoin Unlimited’s lead developer Andrew Stone has been researching and working on implementing the opcode in order to make bitcoin scripting applications more versatile.

The Opposition Towards Bitcoin ABC's Proposed Upgrade Changes
Nchain’s Craig Wright opposes adding OP_CHECKDATASIGVERIFY to the BCH upgrade.

One of the most vocal individuals against adding the CDSV opcode is Nchain’s chief scientist, Craig Wright, who spoke out in opposition against the opcode addition right away. Wright explains to his Twitter followers that the opcode is not going to happen, while tagging Coinngeek’s Calvin Ayre and Viabtc’s Haipo Yang in the post as well.

“OP_CHECKDATASIGVERIFY is not happening — If a certain ABC developer wants to push this, then we will just fund replacement developers — Trust me — There are others,” Wright explains after the Bitcoin ABC code announcement.

Miners vote — Think we are not serious. Watch the Axe fall.

There’s been some opposition to Wright’s objection as he already had been arguing with developers about ideas like pre-consensus. When Wright spoke out against pre-consensus, Coingeek’s Calvin Ayre took his side and announced a day later that Coingeek would not participate in any “risky” protocol changes. Coingeek’s mining pool commands a hashrate of around 21 percent of the network over the last seven days. On Thursday, Nchain’s Wright says to his Twitter followers that just like the Nchain team, his friend Calvin Ayre will not allow developers to treat Bitcoin like a toy.     

“And like us, Calvin Ayre will not settle for a devs plaything,” Wright emphasizes.  

The original base protocol — No experiments — Unlimited unbounded scale.   

The Opposition Towards Bitcoin ABC's Proposed Upgrade Changes
Bitcoin Cash hashrate over the last seven days shows Coingeek’s hashrate share at 21 percent.

Will Bitcoin Cash Miners Weigh in on the CDSV Opcode Subject?

Of course, many trolls from the core camp have been trying to use the infighting to cause disruption among the BCH community. Bitcoin XT’s lead developer Tom Harding notes this observation on Thursday saying, “Underway: obvious campaign to sow discord among BCH supporters — Sorry trolls, Bitcoin is Byzantine fault tolerant.” So far there’s been a lot of debate about this subject, but at least BCH supporters know that the subjects are being discussed, rather than one side of the discussion being purposely suppressed by so-called ‘thought leaders’ and forum administrators.  

So far there hasn’t been an official response from Coingeek like the one shared the other day concerning pre-consensus changes. Moreover, Calvin Ayre has not said anything yet in regard to the CDSV opcode subject on Twitter, so people will be waiting to hear him weigh in on the CDSV topic. Viabtc’s Haipo Yang made an interesting statement on Twitter following the heated debate on Friday and said: 

We need to stop the regular hard fork of Bitcoin Cash. We need stable Bitcoin protocol specification, we need multiple implementations — There should not be dev decide but miner vote.

However, other miners have not made any statements for or against the idea of implementing CDSV. Wright says he cares deeply about the project and people better not get in his way when it comes to protecting the original Bitcoin protocol.     

“I care about making bitcoin THE global currency,” Wright details this Friday.

The original Bitcoin protocol — Not a social experiment. If you get in my way… Watch the juggernaut roll!

What do you think about the consensus changes Bitcoin ABC has proposed? What do you think about Nchain’s Craig Wright weighing in on the subject? Let us know what you think about this topic in the comment section below.


Images via Shutterstock, Bitcoin ABC logo, and Pixabay.


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even look up the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post The Opposition Towards Bitcoin ABC’s Proposed Upgrade Changes appeared first on Bitcoin News.

Bitcoin News

Putin’s Proposed DC Visit Delayed Until ‘Witch Hunt’ Ends

July 25, 2018 |

The White House said Wednesday that President Donald Trump’s proposed Washington meeting with Russian President Vladimir Putin had been delayed until 2019, citing the ongoing probe into Russian interference in the 2016 election. Putin had already sent signals that the fall White House meeting wasn’t going to happen, the AP…
Newser

A Big Change Is Proposed to Wildlife Protections

July 23, 2018 |

Those who back the Endangered Species Act won’t be happy to read a quote in the New York Times that sums up a story about its fate: “It’s probably the best chance that we have had in 25 years to actually make any substantial changes,” says Richard Pombo, a congressman-turned-lobbyist…
Newser

PUC judge approves proposed San Onofre settlement

June 27, 2018 |

Five months after owners of the failed San Onofre nuclear plant agreed to slice hundreds of millions of dollars from the cost to ratepayers of the 2012 breakdown, a California Public Utilities Commission judge has endorsed the proposed settlement.

If the full commission also approves the decision,…


L.A. Times – Business

Canadian Exchanges to Report Transactions Over $10k per Proposed Regulations

June 11, 2018 |

Canadian Exchanges to Report Transactions Over $  10k per Proposed Regulations

Canadian bitcoin investors and cryptocurrency traders are going to be subjected to an increased level of market surveillance soon if the government has its way. Once the proposed regulations are implemented, every transaction above $ 10,000 CAD will have to be reported.

Also Read: Bitcoin in Brief Monday: Korean Exchange Hack Takes a Toll on Crypto Markets

Crypto Exchanges to Report as MSBs

Canadian Exchanges to Report Transactions Over $  10k per Proposed RegulationsThe Department of Finance Canada has issued a Regulatory Impact Analysis Statement regarding proposed amendments to the country’s AML/ATF regime. The statement suggests that Canadian crypto exchanges will be treated as money service businesses (MSBs) and will have to report trades over a certain amount.

According to the proposed amendments published in the Canada Gazette, “Persons and entities that are ‘dealing in virtual currency’ would be financial entities or other entities deemed domestic or foreign MSBs, as the case may be. These ‘dealing in’ activities include virtual currency exchange services and value transfer services. As required of all MSBs, persons and entities dealing in virtual currencies would need to implement a full compliance program and register with FINTRAC. In addition, all reporting entities that receive $ 10,000 or more in virtual currency (e.g. deposits, any form of payment) would have record-keeping and reporting obligations.”

FATF Standards

Canadian Exchanges to Report Transactions Over $  10k per Proposed RegulationsThe part about registering with FINTRAC (the Financial Transactions and Reports Analysis Centre of Canada) should not be too much of a hassle for the exchanges. Several Canadian exchanges have already taken it upon themselves to voluntarily do so in an effort to remedy regulatory uncertainty, as we recently reported. And the government concluded that compliance with the proposed rules should cost just $ 270,112 over a ten-year period.

According to the statement, the changes will not be implemented to provide greater clarity to traders and the exchanges who asked for it. Instead they will be to “close loopholes” and address deficiencies in compliance with the standards set by the Financial Action Task Force (FATF), the inter-governmental body that sets international benchmarks on combating money laundering and terrorist financing.

How should Canadians bitcoin traders respond to this increased level of government market surveillance? Share your thoughts in the comments section below. 


Images courtesy of Shutterstock.


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

The post Canadian Exchanges to Report Transactions Over $ 10k per Proposed Regulations appeared first on Bitcoin News.

Bitcoin News

As Woman Proposed, Her Partner Pulled Out a Ring

May 30, 2018 |

Jessa Gillaspie jumped up and down as her girlfriend got down on one knee Friday at the site of their first date, the Memphis Zoo, but there was more to the move than simple excitement. Before giving an answer, Gillaspie reached into her purse and pulled out a ring she’d…
Newser

Ban Proposed on Plastics You Use Every Day

May 28, 2018 |

The European Union has proposed banning plastic products like cotton buds, straws, stirs and balloon sticks when alternatives are easily available in an attempt to reduce litter spoiling beaches and ocean beds, per the AP . The European Commission said its proposal would seek to cut marine litter in half for…
Newser