Reward Archives -
Days after Africa’s youngest billionaire was kidnapped , Mohammed Dewji’s family is offering a $ 440,000 reward for information leading to his rescue. Dewji, said to be Tanzania’s only billionaire, was taken by masked gunmen on his way into a gym in the Tanzanian city of Dar es Salaam Thursday morning….
Starting next year, United Airlines will make it more difficult to reach the MileagePlus plans’ most elite status level — Premier 1K — but the carrier is offering a new perk for such top-tier fliers.
Starting Jan. 1, members of the loyalty reward program must spend a minimum of $ 15,000 and accumulate…
In today’s edition of Bitcoin in Brief we cover a couple of stories that show how the cryptocurrency industry is trying to police itself. One group of companies has begun working on the formation of a self-regulatory organization and another has created a 100 BTC whistleblower reward pool.
Crypto Self-Regulatory Organization
A number of companies have jointly formed a Working Group to try and establish an industry-sponsored, self-regulatory organization (SRO) for cryptocurrency marketplaces operating in the USA. Initial participants in the Virtual Commodity Association (VCA) Working Group will include: Bitstamp, Bitflyer USA, Bittrex, and Gemini Trust. The VCA will have an executive director, independent board, and be tasked with establishing a framework for industry best practices. The VCA interim Executive Director will be Maria Filipakis, former Executive Deputy Superintendent at the New York Department of Financial Services (DFS) which created the state’s Bitlicense.
“We’re proud to be a part of the Virtual Commodity Association as a way to add another element of protection for consumers,” stated Nejc Kodrič, Bitstamp CEO. “We believe in the value of self-regulation, which we pursued in Europe almost from our inception, and look forward to following a similar path in the U.S. Those that can’t or won’t comply with regulations put consumers – and their own operations – at risk.”
100 BTC Whistleblower Reward
Another group of actors in the industry (including Ecoinmerce, ICO Alert, GZH, Step VC, and New Economies) has created the Crypto Community Watch, a program which provides an anonymous tip line to report wrongdoing. The group has provided a total of 100 BTC to be used as a reward pool for whistleblowers, meaning people with information on fraudulent or illegal activity from within the industry. They explain that if reported information leads directly to the arrest or legal punishment of a wrongdoer, the whistleblower responsible for it will receive a portion of the reward pool. And all submissions will be investigated by Crypto Community Watch members and sent to applicable law enforcement agencies when appropriate.
“From the recent exchange hacks to the nearly-weekly reports of fraudulent projects taking off with investors’ money, it’s clear that crypto has a problem,” said Ecoinmerce COO Rex Chen. “Enough is enough. It’s up to the industry first and the regulators second to clean up the ecosystem. If you spend your time hacking, scamming, or intentionally misleading investors, your time is up.”
SBI Helps Lastroots With FSA Order
SBI Holdings has an announced on Monday that it has made an additional investment in Lastroots, an exchange that was issued a business improvement order earlier this year by the Japanese FSA. The undisclosed infusion of capital is meant to help the company get itself into shape to become a licensed virtual currency exchange business in Japan. And in addition to the extra funds, SBI also “dispatched officers to Lastroots in order to respond to the order of business improvement received…on April 6, 2018 to strengthen the management system.”
More broadly, the investment announcement explained that “The SBI Group is expanding its contribution and partnerships with digital asset-related venture companies and will promote the creation of digital asset real demand through investment in domestic and overseas venture companies that are engaged in business utilizing digital assets and developing new products. We believe that it will contribute to the expansion and development of digital asset industry / business in the future.”
New Exchange Secures Fiat-Crypto Liquidity
Coinmetro, an Estonia-licensed crypto exchange which has been founded by the same team behind the forex broker FX Pig, has announced it secured liquidity for trading in EUR, USD, JPY, and GBP from a number of payment and e-money institutions. This means that when it launches later this year, users will be able to trade five cryptocurrencies (BTC, ETH, XRP, LTC and BCH) against all these fiat currencies. The platform will also accept Euro deposits and withdrawals via the Single Euro Payments Area (SEPA) upon launch, supported by an Estonian banking provider. The company explains that additional banking partners are being sourced in order to offer other transaction options, and these are expected to be announced later this year.
CEO Kevin Murcko said: “One of the difficulties of getting involved with crypto is “on-ramping” – finding somewhere to buy crypto in exchange for fiat money. Despite Bitcoin moving further into the mainstream and attracting established financial institutions, locating an exchange that will convert dollars, pounds, or euros to crypto is still irritatingly difficult. While some multi-coin exchanges have recently announced plans to begin accepting fiat and the creation of fiat trading pairs, their offerings are still very limited. Most exchanges permit only one or, at most, two currencies for trading with crypto, which for serious traders, is still far too restrictive.”
What do you think about today’s news tidbits? Share your thoughts in the comments section below.
Images courtesy of Shutterstock.
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The reward for the safe return of a missing University of Iowa student has ballooned to $ 260,000, per the AP . Crime Stoppers of Central Iowa said Sunday that relatives of 20-year-old Mollie Tibbetts believe she’s alive but has potentially been kidnapped. The reward jumped nearly $ 100,000 since Thursday,…
Authorities are hunting for the person who seriously injured a cat by placing a firecracker in her rectum, officials said.
The Bitcoin Cash (BCH) blockchain is now less than two years away from its next block reward halving. Current statistics show the BCH chain will halve its reward from 12.5 BCH to 6.25 BCH on or around April 6, 2020, and with more than 80 percent of BCH now in circulation, when the next halving takes place the decentralized asset will be much harder to obtain.
Bitcoin Cash Has Less Than Two Years Left Until the 2020 Reward Halving
Bitcoin Cash has great worth to a lot of digital asset proponents and the cryptocurrency has gained in value tremendously over the past nine months. One benefit that BCH advocates appreciate is the fact that the currency has digital scarcity. There will never be more than 21 million BCH in existence and right now there is a circulating supply of 17.1 million. More than 80 percent of BCH has been mined into existence since the end of April and the BCH hashrate has been around 3.5 to 4.5 exahash per second. At this speed alone, with just 13 mining pools, the next halving date will be on or around April 6, 2020. After this date, BCH miners will lose half the current block reward (12.5 BCH) and receive 6.25 BCH and fees per block mined.
Many cryptocurrency enthusiasts appreciate the fact that BCH will grow gradually harder to obtain over time due to Satoshi Nakamoto’s built-in supply limit, which introduced a different kind of ‘digital scarcity’ — one that’s backed by the Bitcoin Cash hashrate. This day in age, with computer files like MP3s or JPEGs, we typically think about these digital items differently because they are easily duplicated. The decentralized currency BCH cannot be duplicated so easily, as it’s re-enforced by 3.5 to 4.5 exahash of power validating all the ledger transactions. The system keeps miners sincere because they are economically incentivized to stay honest, unlike traditional systems and public officials trusted today. As time goes by and the mining hashrate continues to increase, the BCH network becomes much more expensive to besiege by making a 51% or double spend attack harder every passing day.
No More Quantitative Easing or Bailouts
Digital scarcity makes Bitcoin Cash far more valuable than the fiat notes printed by governments and central banks because the code does not allow for mass fiat printing and quantitative easing. The U.S. dollar, for example, has been devalued considerably over time making it lose purchasing power year after year. Extreme USD printing began after the adoption of the Bretton Woods system, throughout the eighties and nineties and then with the bailed-out banks who received billions of printed dollars after the 2008 ‘economic crisis.’ Bitcoin Cash will always be finite and allow users to conserve or spend, because their ownership is defined by a protocol that continues to strengthen its security daily. There is no monetary system out there that allows for true transferable digital value like Satoshi Nakamoto’s clever invention.
After April 6, 2020, in another four years or less the reward will again halve, and continue to halve until the last coins are found on or around the year 2140. Halvings in the past have shown consistent price rises following these events, which confirms proponents appreciate the genius of Nakamoto’s digital scarcity. Sending people a nice fraction of BCH is cool, but people will also admire how scarce the decentralized asset is unlike the devalued fiat currencies in their wallet.
What do you think about the Bitcoin Cash halving that takes place every four years? Let us know your thoughts on the subject of digital scarcity in the comments below.
Images via Shutterstock, Fork.lol, and the UK Times 2009.
The post The Bitcoin Cash Chain Has Less Than Two Years Until the Reward Halving appeared first on Bitcoin News.
It’s not the usual occupation involved with an FBI reward: airline mechanic. But the agency’s Miami office is offering $ 10,000 to anyone who can help it track down Ociel Valenzuela-Reyes, who is wanted in connection with the 1996 crash of a ValueJet plane that killed all 110 people on…
A search was underway in the Atlanta area to find an employee of the U.S. Centers for Disease Control and Prevention who went home sick more than a week ago and has been missing ever since.
Walmart, the world’s largest private employer, is boosting its starting salary for US workers to $ 11 an hour, giving a one-time cash bonus of up to $ 1,000 to eligible employees and expanding its maternity and parental leave benefits. The retailer said Thursday that changes to its compensation and benefits…
Miami-Dade police were offering a $ 23,000 reward for information leading to the arrest of a suspect in the shooting death of a 2-year-old boy.