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| May 22, 2018

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TMZ

T.I. Arrested in Georgia for Public Drunkenness

May 16, 2018 |

T.I. got busted at his own gated community in Georgia after he got into it with a security guard for the neighborhood. According to local reports, the rapper was trying to get to his house Wednesday morning — around 4 AM — but didn’t have his…

TMZ.com

PR: Essentia Opens KYC Verification Ahead of Public Sale

May 16, 2018 |

Essentia Opens KYC Verification Ahead of Public Sale

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Essentia, the decentralized protocol framework, has just announced details of its public token sale following the completion of their successful pre-sale. Essentia has implemented KYC/AML verification ahead of the public sale so participants wishing to contribute to the token generation event must follow the verification procedure Essentia has outlined in detail in its project blog.

During the process of verification, interested parties will have the opportunity to experience the Essentia framework in action by creating their own dashboard through a series of quick steps. Here, documents can be uploaded in a secure environment and applicants can specify such details as the ETH wallet they wish to contribute from.

Anyone wishing to contribute more than 10 ETH will be required to submit additional details, and to verify that they are not the US or Chinese resident. Having completed verification for the Essentia public sale, applicants may return to their dashboard at any time to check on the status of their application. Due to high demand, Essentia cannot guarantee that successful applicants will be able to receive the full allocation of tokens they have requested.

Essentia co-founder Matteo Giancarlo Zago has stated: “The public sale marks the beginning of the next exciting phase for Essentia. Our community has been incredibly patient over the last few months, while the team has worked away behind the scenes to finalize everything in readiness for this moment. We look forward to welcoming applicants to our public sale, and to have them accompany us on the our journey building the infrastructure of the next web.”

Having recently signed an agreement with the Finnish government to develop a blockchain solution for the MTK ministry, one of Essentia’s first tasks following the public sale will be to recommence development on this initiative. In addition, the team will ramp up work on its enterprise solutions and fine-tuning the Essentia protocol, which they expect to grow into a thriving ecosystem of integrated dApps and other third party services.

Essentia successfully hit the hard cap during their pre-sale at the beginning of May, raising over $ 20m by reaching the maximum allocation of ESS tokens. As a consequence, no more pre-sale applications can be accepted. The Essentia public sale will mark the final stage of the process, which aims to give the Essentia community a chance to get involved, with 595 million ESS tokens allocated for the general sale to be distributed to all participants.

To be a part of their growing community join their Telegram channel https://t.me/essentia_one/.

Contact Email Address
matteo@essentia.one
Supporting Link
www.essentia.one

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. 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 content, goods or services mentioned in the press release.

The post PR: Essentia Opens KYC Verification Ahead of Public Sale appeared first on Bitcoin News.

Bitcoin News

Public Company’s ICO Paves the Way for Other Token Sales in Thailand

May 12, 2018 |

Public Company's ICO Paves the Way for Other Token Sales in Thailand

The first initial coin offering (ICO) by a publicly traded company in Thailand has begun trading on a couple of local exchanges. Meanwhile, the regulators are still drafting the legal framework for cryptocurrencies and token sales.

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

First Public Company to Launch ICO

The launch of an ICO by a publicly traded company has paved the way for other token sales in Thailand.

Public Company's ICO Paves the Way for Other Token Sales in ThailandJay Mart Plc’s subsidiary, J Ventures Limited, launched its ICO called Jfin Coin last week. Jay Mart Plc operates in the wholesale and retail sectors for mobile phones and technology accessories and is listed on the Stock Exchange of Thailand (SET).

The pre-sale of Jfin Coin was held on February 14 at the rate of 6.60 baht (~US$ 0.21) per token, which was sold out. Its ICO debuted on local cryptocurrency exchange Coin Asset at 6.45 baht, but quickly tanked 57.09% to roughly 3 baht before regaining some of its losses. It is currently trading at 3.94 baht (~$ 0.12).

Public Company's ICO Paves the Way for Other Token Sales in Thailand

Initially, J Ventures was going to trade the tokens on a much larger crypto exchange in the country, the Thai Digital Asset Exchange (TDAX). However, the company switched to Coin Asset, which has much lower liquidity, according to the Bangkok Post.

Jfin Coin also started trading this week on another local platform, Cash2coins. J Ventures CEO Thanawat Lertwattanarak told the news outlet that the company plans to list Jfin Coin on Hong Kong’s Hitbtc as well as South Korea’s Upbit in the near future. His statement came prior to Upbit being investigated by the Korean authorities for alleged fraud.

Other ICOs Follow

The Thai government is currently drafting the regulatory framework for cryptocurrencies and ICOs. However, some companies are not waiting for the legal framework to be introduced.

Public Company's ICO Paves the Way for Other Token Sales in ThailandFollowing Jfin Coin, Zmine Holdings Limited is also planning a token sale. CEO and co-founder Kasem Pativitvatana said the company expects to raise at least 180 million baht (~$ 5.6 million) through the issuance of 100 million ZMN tokens in order to expand its crypto mining business which began in 2014, Prachachat Turakij reported.

The pre-sale of ZMN tokens began last week. MGR Online reported that 2 million tokens were sold on the first day for approximately 3.5 million baht (~$ 109,825).

Recently, “the Finance Ministry took steps to put the brakes on the Initial Coin offering (ICO) bandwagon by threatening to hit the emerging ICO market with value-added tax and capital gain tax,” the Nation Multimedia described, adding:

Under the proposed new laws, the [Thai] Securities and Exchange Commission (SEC) would be responsible for regulating the ICO market, covering securities and other kinds of digital tokens. One key feature of a related new law covers the electronic-KYC (know your customers) requirement aimed at preventing money launderers and other criminals from taking advantage of the new funding channel.

Do you think the Thai government will let ICOs flourish? Let us know in the comments section below.


Images courtesy of Shutterstock, Coin Asset, J Ventures, and Zmine.


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

The post Public Company’s ICO Paves the Way for Other Token Sales in Thailand appeared first on Bitcoin News.

Bitcoin News

AT&T calls hiring Michael Cohen ‘big mistake’ and says its public policy chief will retire

May 12, 2018 |

Hoping to quell a growing controversy, AT&T Inc. chief Randall Stephenson said Friday that the phone giant did not break any laws but committed a “serious misjudgment” in hiring Michael Cohen, President Trump’s personal attorney and fixer, as a political consultant.

“Our company has been in the…


L.A. Times – Business

Researchers Find Bitcoin Network 3X More ‘Evil’ Than the Public Internet

May 9, 2018 |

Researchers Find Bitcoin Network 3X More 'Evil' Than the Public Internet

Just recently a research group called Rapid7 published a report that reveals over a year’s worth of research regarding malicious activity tethered to Bitcoin Core (BTC) full nodes. By utilizing data collected from a network called ‘Project Heisenberg,’ and its internet scanner ‘Project Sonar,’ alongside intelligence from Bitnodes, the team had found quite a lot of exploits being shared between full blockchain nodes. 

Also read: The Hitchhikers Guide To The Invisible Internet

Study Finds Bad Actors Throughout Bitcoin Network’s Public Nodes

Bitcoin full node operators connect usually connect by default to a TCP service on port 8,333, but there are also over 600 alternative ports available. Rapid7’s recent research used data from the team’s Project Sonar which revealed the top three countries with the most port 8,333 nodes stem from the U.S., China, and Germany. The researchers began the blockchain surveillance back in August of 2017 and found more than 11,000 nodes per day. Moreover, the researchers collected data from more than 144,000 unique full nodes during the course of the study.

Researchers Find Bitcoin Network 3X More Evil Than the Public Internet

In addition to the Project Sonar intelligence over 900 nodes connected to Rapid7’s honeypot technology Project Heisenberg that revealed interesting and some malicious activities like the distribution of MS17-010 a critical Microsoft operating system vulnerability.

“Investigations into these interactions showed familiar patterns. Port scans and active reconnaissance with tools like Nmap were rampant, as was repeated attempted exploitation of MS17-010, largely from China,” explains Jon Hart a Rapid7 researcher.

17 hosts, mostly from the China IPv4 space, were actively slinging exploits for MS17-010.    

Researchers Find Bitcoin Network 3X More Evil Than the Public Internet

The Bitcoin Network Three Times More Evil Than the Public Internet

As mentioned above most of the shady activities derived from confirmed malicious nodes with the most amount of connections the U.S. (178), China (154), and Germany (132). While the researchers note that not all of the findings found in full nodes can be deemed harmful the group observed the nodes used “curious scanning and probing behavior in the Bitcoin peer-to-peer network.”

Researchers Find Bitcoin Network 3X More Evil Than the Public Internet

The report concludes that the absolute number of bad actors found within the cryptocurrency’s network is fairly low on ‘bad days’ these nodes can account for up to 2 percent of the BTC network. Now the researchers say that the data collected may be considered low but compared to the “background noise” of malicious activity found on the entire IPv4 internet the figure is pretty alarming.

“Therefore, on a typical day, the Bitcoin network is approximately three times more ‘evil’ than the rest of the internet. On particularly active days, we see ten times as many malicious nodes in the Bitcoin network as we see on the regular internet, by volume,” explains the Rapid7 report.

If you are actively participating as a bitcoin miner, one takeaway is to recognize that there are a small number of participants in the bitcoin network actively taking hostile action against otherwise innocent nodes on the public internet.

What do you think about the research that states the BTC network of nodes is three times more “evil” than the entire IPv4 internet? Let us know what you think about this subject in the comments below.  


Images via Shutterstock, Bitnodes, and Rapid7’s research report


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Bitcoin News

Supreme Court case could give public employees more freedom

May 6, 2018 |

AFSCME is one of the largest contributors to political causes and candidates in the country, but maybe not for long. The U.S. Supreme Court is considering a potentially landmark First Amendment case brought by Mark Janus, a public employee in Illinois who argues that his rights are violated by an Illinois law that forces him to pay for AFSCME’s collective bargaining.
FOX News

Illinois Senate passes bill that requires LGBT history in public schools

May 3, 2018 |

The Illinois Senate on Wednesday passed a bill that would require public schools in the state to teach lesbian, gay, bi-sexual and transgender (LGBT) history, as well as use inclusive and “non-discriminatory” textbooks.
FOX News

China’s Biggest Tech Unicorns Stampede to Go Public

May 2, 2018 |

At least a dozen Chinese companies with collective private valuations of roughly $ 500 billion have been in talks about IPOs.
WSJ.com: What’s News Asia

ETH Round-Up: Parity Unfreeze Shot Down, Casper Code Made Public, Vitalik Slams Greedy Market Sentiment

April 28, 2018 |

ETH Round-Up: Parity Unfreeze Shot Down, Casper Code Made Public, Vitalik Slams Greedy Market Sentiment

A number of significant events have occurred pertaining to the Ethereum ecosystem in recent days. Last week, the code for the proposed first step of Ethereum’s technical transition toward the adoption of proof-of-stake mining, Vitalik Buterin made disparaging comments regarding 2017’s explosion in the initial coin offering (ICO) industry in an interview with Financial Times, and most recently, an Ethereum Improvement Proposal (EIP) seeking to restore a disabled contract to unfreeze 513,774 ETH held in 587 wallets used by Parity Wallet has been rejected.

Also Read: New Party in Ukraine to Fund Itself Only with Cryptos

Code for First Step in Casper Transition Unveiled

ETH Round-Up: Parity Unfreeze Shot Down, Casper Code Made Public, Vitalik Slams Greedy Market SentimentEthereum developers recently announced that code expected to comprise the networks first step towards the adoption of a proof-of-stake (PoS) mining model has been available for public review.

The proposed code, described in EIP 1011, states “This EIP specifies a hybrid PoW/PoS consensus model for Ethereum main net. Existing PoW mechanics are used for new block creation, and a novel PoS mechanism called Casper the Friendly Finality Gadget (Casper FFG) is layered on top using a smart contract.”

The transition from Pow to Pos has long been a pervasive issue within the Ethereum community, with discussions of such having been present “on the roadmap and in the Yellow Paper since the launch of the protocol.” How to conduct the transition, the EIP asserts, was “an open area of research” until the first paper detailing Casper FFG was published by Vitalik Buterin and Virgil Griffith in October 2017.

Casper FFG aims to reduce the energy consumed through mining ETH and provide resistance to ASICs. The EIP’s authors assert that “The Casper FFG contract can be layered on top of any block proposal mechanism, providing finality to the underlying chain,” adding that “the FFG staking mechanism requires minimal changes to the protocol.”

Proposal to Unfreeze Over $ 300 Million USD Worth of ETH Rejected

ETH Round-Up: Parity Unfreeze Shot Down, Casper Code Made Public, Vitalik Slams Greedy Market SentimentEIP 999, a proposal to implement a patch unfreeze 513,774.16 ETH held in 587 wallets related to the Parity debacle, has been rejected after a vote among the affected wallet owners. The EIP proposed “restoring the WalletLibrary by a patched version to allow the owners of the dependent multi-signature wallets regain access to their assets.” At current prices, said frozen ETH would be valued at over $ 325.7 million USD.

The vote saw 330 ‘no’ votes cast, a ten percent victory over the 300 ‘yes’ votes that were submitted. Nine “don’t care” votes were also cast.

Vitalik Buterin Slams ‘Get-Rich-Quick’ Sentiment in Crypto Markets

ETH Round-Up: Parity Unfreeze Shot Down, Casper Code Made Public, Vitalik Slams Greedy Market SentimentIn a recent interview with Financial Times, Ethereum’s co-founder, Vitalik Buterin, lamented the transition of the cryptocurrency sphere from hosting a rebellious and clandestine cypherpunk culture, to that which is dominated by greed and the desire to get rich quick.

Of many cryptocurrencies that were baptized in the 2017 crypto bubble, Mr. Buterin states that “There’s projects that never had a soul, that are just like, ra-ra, price go up. Lambo[rghini], vrromm, buybuybuy now!” Vitalik states that “We’ve created a culture where some totally random project raising something like $ 8m is like, oh yeah that’s peanuts,” describing such as evidence that the cryptocurrency markets are in a “bubble.”

Mr. Buterin also argues that the market capitalization and prices witness by many projects are “far ahead of what this space has actually accomplished for the world.”

Do you agree with Vitalik’s comments? What are your thoughts on EIPs 999 and 1011? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


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The post ETH Round-Up: Parity Unfreeze Shot Down, Casper Code Made Public, Vitalik Slams Greedy Market Sentiment appeared first on Bitcoin News.

Bitcoin News

16 Regulated Crypto Exchanges Unveil Plans to Restore Public Trust in Japan

April 24, 2018 |

16 Regulated Crypto Exchanges Unveil Plans to Restore Public Trust in Japan

The new Japanese cryptocurrency association comprising of sixteen government-approved exchanges debuted on Monday. The group has unveiled its plans to spearhead self-regulation in order to rebuild the public’s trust in the crypto industry.

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

New Japanese Association Debuts

Sixteen fully-licensed cryptocurrency exchanges in Japan have formally launched a new crypto association. The group held a press conference on Monday to detail its plans for self-regulation “in order to rebuild public trust battered by a high-profile theft,” Nikkei reported.

16 Regulated Crypto Exchanges Unveil Plans to Restore Public Trust in Japan
Press conference held by the new Japanese cryptocurrency association.

“The organization is expected to release trading and disclosure rules this summer,” the news outlet elaborated, adding that the group “plans to open its doors to those operating provisionally while the government watchdog reviews their applications.”

16 Regulated Crypto Exchanges Unveil Plans to Restore Public Trust in Japan
Taizen Okuyama.

The founding exchange members are Money Partners, Quoine, Bitflyer, Bitbank, SBI Virtual Currencies, GMO Coin, Bittrade, Btcbox, Bitpoint Japan, DMM Bitcoin, Bitarg Exchange Tokyo, FTT Corporation, Bitocean, Fisco Virtual Currency, Tech Bureau, and Xtheta.

The group also held its first board of directors meeting and chose its key executives. President of foreign exchange platform provider Money Partners Group, Taizen Okuyama, was appointed the chief of the new organization. The publication quoted him declaring:

We’ll pursue self-regulation to further the market’s healthy development and allay uncertainty among cryptocurrency users.

Three Priorities Named

The group will focus on three priorities, the news outlet detailed. The first, as expressed by Okuyama, is the protection of customers. While the Japanese law “requires exchanges to manage customer assets separately from their own,” he admitted that “such a standard is a matter of course for securities firms and foreign exchange brokerages. Compliance has been patchier among cryptocurrency exchanges.”

Another priority is to ensure “an orderly rule-making process,” he described, citing as an example the issue of “leverage limits for margin trading and management of insider information, including what currencies a given exchange plans to start supporting.”

16 Regulated Crypto Exchanges Unveil Plans to Restore Public Trust in Japan
Founding members of the new Japanese cryptocurrency association at the press conference on Monday.

The third priority is “improving disclosure.” The CEO of Money Partners Group explained, as conveyed by Nikkei:

[Cryptocurrency] exchanges rarely provide statistics such as total accounts and assets, leaving consumers with too little information to choose one over another. Online brokerages, by contrast, release this data monthly.

The group aims to establish a system for timely disclosure, the news outlet detailed, noting that the country’s financial regulator, the Financial Services Agency (FSA), “applauded the group’s creation as a welcome, if overdue, move toward reform.”

Furthermore, Okuyama said that the association will leave the regulation of initial coin offerings (ICOs) to the judgment of an FSA study group.

What do you think of this new Japanese association and its self-regulatory priorities? Let us know in the comments section below.


Images courtesy of Shutterstock and the new Japanese Association.


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

The post 16 Regulated Crypto Exchanges Unveil Plans to Restore Public Trust in Japan appeared first on Bitcoin News.

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