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Shane Gillis has at least one “Saturday Night Live” player in his corner: “SNL” alum Rob Schneider.
The bitcoin cash community now has a new way to secure and transact its digital money, as HTC adds native BCH support to its Exodus 1 smartphone. A key reason the technology manufacturer has chosen to do so is that many consumers are using BCH as a payment method and HTC wants to see a future where merchants use the Exodus to receive BCH payments.
HTC Exodus 1 Now Supports Bitcoin Cash
Taiwanese consumer electronics manufacturer High Tech Computer Corporation or HTC (TWSE: 2498) has added native bitcoin cash support to its flagship smartphone, Exodus 1. The device’s killer feature for cryptocurrency users is the Zion Vault, a digital asset wallet with an easy-to-use software interface integrated with onboard hardware security. This secure built-in wallet is now capable of conducting bitcoin cash transactions, so users can easily buy, receive, spend and store BCH on the phone without the risk of remote hacking.
HTC has announced the support for BCH as part of a new partnership with Bitcoin.com, which will include pre-loading the company’s popular wallet app on the Exodus 1. Moreover, Bitcoin.com will also offer the smartphone, as well as the upcoming lower priced device HTC Exodus 1s, for sale on its online store. The Exodus 1s will feature the same native BCH support available to Exodus 1 users right now when it launches later this year.
Bitcoin.com CEO Stefan Rust commented: “There are so many synergies between Bitcoin.com and HTC. We are very excited to be on this incredible journey together.” Bitcoin.com Executive Chairman Roger Ver added: “Bitcoin.com’s partnership with HTC will enable Bitcoin Cash to be used as peer to peer electronic cash for the millions of HTC smartphone users around the world.”
Bringing Users Full Control Over Their Data and Assets
To understand how HTC sees the promise of cryptocurrency and why it has added bitcoin cash support now, we talked with the company’s Decentralized Chief Officer Phil Chen. Explaining the importance of the new partnership, Chen said: “Smartphones are everywhere and have proliferated across the planet. It’s very important for the adoption of crypto that it is easy to store and use, no matter which cryptocurrency is preferred by people. So the fact that BCH, one of the biggest cryptocurrencies, is now easy to use on our smartphone is very important for us. Together, HTC and Bitcoin.com are helping to bring crypto to the masses.”
Regarding its support for the crypto community in general, HTC sees this as an important part of its vision to empower users in the face of Big Tech. “True power is ownership of, control of and ability to transact with your digital assets. Cryptocurrency is the best place to start on this journey to allowing users to own their own data. It is a scary prospect for many of the big players in both Silicon Valley and in the smartphone maker space. If users are allowed to own their own keys and data, this will have a significant impact on the business models and revenue of these powerful firms,” explained Chen.
He added that HTC built the Exodus 1 device to drive the movement to a fully decentralized web where users have full control over their data and assets. “The first step is to allow the crypto community to hold their own keys; this will be a learning curve for many. So the crypto community is so important as we look to the mass adoption of both decentralized devices and crypto/blockchain in general.”
As for why users need a crypto-focused smartphone such as the Exodus 1, the developer says it provides usability for cryptocurrency. “While cold storage wallets are the ultimate in security, it can be hard and slow to use and transact your crypto. Live centralized exchanges, although fast, do not provide the security or afford you true ownership. It was important for HTC to find the right balance between the deadlock security of cold storage and the ease of use of live centralized wallets. You no longer need to have hardware wallets that then need something like Metamask and then a browser for instance. All the transaction and security capabilities are available using just your Exodus device.”
The company’s Decentralized Chief Officer explained that HTC has developed the Zion Vault to achieve this. It’s an all-in-one secure vault that allows users to keep their own keys and operate through a highly-secure Trusted Executive Environment (TEE), but also the ability to easily transact with those keys.
“All keys and passcodes are stored in TEE directly in users’ Exodus 1 device. The user will always own their own keys. HTC or the Android OS will never have custody,” Chen said. “Operating independently of the Android OS, the vault will protect the entrusted crypto-keys with stringent security. When authorizing your BCH transactions, Zion Trusted UI will create a safe zone through Trusted Executive Environments (TEE) that block possible malware attacks. Zion does not record any user information at any stage.”
The Key Reason for Supporting Bitcoin Cash
HTC sees crypto as a new paradigm for consumer electronics, after smartphones have seen a plateau in terms of global device development and innovation. They expect that smartphones of the future will be the core of your digital identity and the way to keep your digital assets and data.
“It is part of a longer roadmap but the HTC Exodus 1 marks a new beginning for users and their data,” explained Chen. “Only when users have full ownership of their own keys can we enact true decentralization, which is a vital first step toward protecting users. We see this as a stepping stone to how people will carry their own digital assets and digital identities in their pockets, in the very way we carry phones today.” He added that the upcoming Exodus 1s will be able to operate as a full node on the BTC blockchain. “That’s another industry first and we also expect more of this innovation as it is the only truly trustless way to transact using your crypto assets.”
HTC’s Decentralized Chief Officer added that BCH users have a lot to look forward to from the company’s cooperation with Bitcoin.com going forward. “This is only the beginning of what the decentralized world can offer, so the possibilities and potential are endless. We can see a future where merchants are using their Exodus device to receive BCH payments at their point of sale (POS). That’s a key reason we’re supporting BCH; it’s great to see so many consumers using BCH as a payment method.”
Future plans for the partnership include offering special discounts when paying for goods in BCH, and the sale of future Exodus phones on store.Bitcoin.com, with further collaborations to be announced in due course.
What do you think about HTC adding native bitcoin cash support to its flagship smartphone? Share your thoughts in the comments section below.
Images courtesy of Shutterstock and HTC.
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 Bitcoin.com Markets, another original and free service from Bitcoin.com.
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Delaying the USMCA directly hinders American jobs and economic growth right here at home.
Amber Rudd, the United Kingdom’s Secretary of State for Work and Pensions, resigned Saturday in a letter to Prime Minister Boris Johnson, saying she could not support his handling of Brexit or his treatment of Conservative Party members that amounted to an ‘act of political vandalism.”
CNN.com – RSS Channel – World
“Will & Grace” star Eric McCormack is walking back his comments after he and his co-star Debra Messing were widely criticized after calling for Trump donors in Hollywood to be outed.
Rep. Dan Lipinski: Dems and GOP should work together to end immigration crisis and support Border PatrolAugust 18, 2019 | dailybusinessnews
We need to approve bipartisan solutions to the humanitarian crisis at the border and stop demonizing all Customs and Border Patrol agents.
On August 13, Samsung, the South Korean multinational conglomerate, published the company’s new Blockchain Keystore SDK for developers and the latest release supports Bitcoin Core (BTC). The version follows Samsung’s previous Keystore release which only supported ETH and the ERC20 standard.
Samsung Quietly Adds BTC Support to Its Blockchain Keystore
Cryptocurrency advocates were pleased to notice that Samsung (OTCMKTS: SSNLF) had finally added BTC support to the company’s Blockchain Keystore software development kit (SDK). The news came on Tuesday, August 13, when Samsung published the SDK with release notes, API reference, and programming guide. The reference to BTC can be found in a table that mentions “Cryptocurrency Specification,” “Cryptocurrency Limits,” and “Transaction Type Limits.” The cryptocurrency limits section notes that there’s a limit of 21,000,000 BTC or 2,100,000,000,000,000 satoshis. Transaction type limits include P2PKH (Pay To Public Key Hash), P2PK (Pay To Public Key), P2SH (Pay To Script Hash), and P2WPKH (Pay To Witness Public Key Hash). The transaction type limits are meant to require a sender to supply a valid signature within a wallet application that utilizes the Samsung Blockchain Keystore.
The new Samsung BTC support can only be accessed by app makers and developers right now and only residents from South Korea, Spain, Switzerland, the U.S., Germany, Canada, and the U.K. can use the Samsung Blockchain Keystore. Interestingly, the tech giant added support for the Klaytn blockchain as well. This means developers using the Note10s, Galaxy S10, S10e, S10+, S10 5G can use ETH, any ERC20, BTC, and KLAY tokens. Samsung says there are two benefits to integrating the Samsung Blockchain Keystore SDK into an Android application:
- Developers can use Samsung Blockchain Keystore API to request the Samsung Blockchain Keystore to sign a cryptocurrency transaction.
- Developers can link a user’s Blockchain address like a user’s account. With the address returned from Samsung Blockchain Keystore, developers can check and show users how much cryptocurrency balance is in the account as well as view the transaction history.
Software engineers who use the Samsung Keystore SDK are able to leverage many features that are commonly used in applications like noncustodial lite wallets. For instance, the Keystore will generate a cryptocurrency’s keypair (public & private key) on the device itself, while also storing the keys in a secure environment within the mobile device. “[Samsung] does not rely on other network or a third party to generate these keys,” the Keystore 1.1.0 version SDK specification reads. All the mnemonic words (seed phrase words) are compatible with the BIP-39 standard allowing users to deploy the recovery phrase on another device if the phone was ever lost or stolen. However, sending a signed transaction is out of Samsung’s scope, the company explains, and engineers who want to send signed transactions need to rely on their own nodes or a public node.
Opening the Door for Bitcoin Cash Support and the Race to Lead Blockchain Development Within the Smartphone Industry
With BTC being added to the Samsung Keystore, the cryptocurrency spec opens the door for similar networks like Bitcoin Cash. BCH also uses transaction types like P2PKH and P2PK and has a hard cap of 21,000,000 BCH or 2,100,000,000,000,000 satoshis. In the Keystore specs, Samsung notes “We plan to support more cryptocurrencies and expand supported regions in the near future.” People who want to test the Keystore functionality cannot simply download the application from the Galaxy store as Samsung’s blockchain SDK is preloaded on selected devices only. Software developers can test the Keystore application by using Samsung’s Remote Test Lab, which is located in the Samsung Developers Site.
Posts on social media and Reddit forums show that crypto advocates appreciate Samsung finally adding BTC to the Keystore. Currently, there are 17 cryptocurrency-related applications that can be used with the select Samsung phones and the Keystore. This includes decentralized applications (dapps) such as Enjin, Cryptokitties, Coinduck, and Cosmee. Samsung’s dapp store also recently gained two new dapps in the form of Mars and Jupiter, developed by fellow South Korean tech company Trustverse.
There have been unconfirmed rumors that eventually Samsung Pay will sync with the Keystore wallet so people can pay for goods and services with digital assets. The recent BTC support from Samsung follows the released Cryptokit for iOS 13 from the company’s California-based rival Apple. The Cryptokit from Apple gives speculators reason to believe that the Cupertino tech giant will release its own in-house crypto wallet system. Similar to Samsung’s Keystore SDK, the Apple Cryptokit provides three specific attributes:
- Compute and compare cryptographically secure digests.
- Use public-key cryptography to create and evaluate digital signatures, and to perform a key exchange. In addition to working with keys stored in memory, you can also use private keys stored in and managed by the Secure Enclave.
- Generate symmetric keys, and use them in operations like message authentication and encryption.
Apple and Samsung entering the cryptocurrency industry by silently releasing software development kits shows that mobile phones that have blockchain capabilities and offer cryptocurrency solutions are here to stay. The mobile phone giants are neck and neck in terms of sales, and adding cryptocurrency features may give them an edge among the lucrative tech- and crypto-savvy demographic.
The Chinese communications technology company Huawei already beat Samsung and Apple to the punch by selling phones pre-installed with Btc.com’s cryptocurrency wallet in May 2018. Even the phone manufacturer Oppos is on the heels of these three tech giants with its system that could help a peer-to-peer network of cryptocurrency node operators validate transactions in regions with poor internet services.
According to reports, Oppo’s Mesh Talk system could allow phones to exchange blockchain key data without using Wifi, Bluetooth, or cellular data within a radius of three kilometers. With all of the blockchain-related developments from Huawei, Samsung, Apple, and Oppos smartphones, it’s safe to assume that the mobile giants are well aware that cryptocurrencies are here to stay.
What do you think about Samsung adding BTC support to the company’s in-house Blockchain Keystore? Let us know what you think about this subject in the comments section below.
Image credits: Samsung, Wiki Commons, Huawei, Apple, Oppos, and Pixabay.
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The post Samsung Adds Bitcoin Support to Its Blockchain Keystore appeared first on Bitcoin News.
There’s much talk about multi-billionaire innovator Elon Musk’s newly announced support for Democratic presidential candidate Andrew Yang. Yang, known as the Bitcoin-friendly choice for 2020, has a reputation for innovation with his unique stance on Universal Basic Income, emphatic blockchain talking points, and acceptance of crypto donations. But it remains to be seen if the leader of the “Yang Gang” will be a proponent of Bitcoin in the fullest sense of the word, or which of his fellow candidates might do it better.
Interestingly, Yang is not the only candidate that is at least a little interested in crypto. Fellow Democratic candidate Eric Swalwell’s campaign (Swalwell has since bowed out of the race) announced in May that it would accept donations in BTC, BCH, BSV, ETH, XLM, and stablecoin WSD. The first ever presidential candidate to accept Bitcoin donations was Rand Paul, back in 2015. Yang’s opponent for the Democratic nomination, Tulsi Gabbard, also appears to be invested, quite literally, listed on an official Financial Disclosure Report as having purchased Ethereum and Litecoin in 2017.
Yang’s Position on Bitcoin
With Elon Musk’s recent tweet of support for the Yang gang and his Universal Basic Income (UBI) proposal, and many news outlets reporting that Musk is now supporting a pro-Bitcoin candidate, it makes sense to check out what he actually says. Yang states in a January interview with the Being Libertarian podcast:
I think there should be a national cryptocurrency. You could even put this social credit stuff on the blockchain.
The social credit system he references would potentially supplement the UBI proposal, which is to be funded by a new Value Added Tax (VAT). When pressed in the interview about the VAT raising prices, Yang maintained that prices are staying the same for most things – it’s services like healthcare where the real pinch is felt, according to the candidate. This is interesting considering the general trend of currency devaluation worldwide.
As for regulation, Yang’s current campaign policy statement maintains that “A national framework for regulating these [crypto] assets has failed to emerge, with several federal agencies claiming conflicting jurisdictions. At the same time, states have come up with a patchwork of varying regulations that make it difficult for the US cryptocurrency markets to compete with those in other jurisdictions, especially China and Europe.”
In a Facebook AMA session Yang elaborated that:
I’m a fan of the underlying technology around blockchain. It has a wealth of potential. I do think the entire cryptocurrency phenomenon has gone a bit ahead of itself … Blockchain has immense potential …It could help provide the foundation for the digital social currency that I’m very much for.
That Blockchain Buzzword
Some of Yang’s positions on crypto seem favorable to regulated development in the industry. For example, Yang wants to define “what a token is, and when it is a security,” in the interest of clearing up regulatory confusion. He aims to “Clarify the tax implications of owning, selling, and trading digital assets.” For those lost in a fog of threatening IRS letters with no clear guidelines yet issued, this would likely be a welcome change.
Ignoring outright crypto antagonists like Donald Trump for the moment, though, the thing that seems to give Yang his Bitcoin-friendly image is simply that he is talking about it at all. Most are silent, save the likes of self-funded maverick anti-politician John McAfee, running as a Libertarian, and a few select others.
Sadly, for the die-hard Satoshi Nakamotos of the world, merely echoing buzzwords like “blockchain” doesn’t mean a whole lot. Even former Federal Reserve Chairman Ben Bernanke does that, as well as the president of Bitcoin-restrictive China, Xi Jinping. Many sing the praises of blockchain without digging into the real utility of crypto. And this utility is for the smallest minority there is: the individual. As Satoshi himself wrote in the Bitcoin whitepaper: “A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.” No regulation there, save math.
Musk and Other Candidates’ Statements
With Yang’s positions fairly well enumerated, it stands to look at other candidates, and also Yang supporter Elon Musk (who tends to wax humorous and tongue-in-cheek when discussing crypto). Their stance on the topic might shed additional light on the Yang Gang’s bid to do something novel in 2020. Below are some short quotes and summarized positions.
Elon Musk: “I literally own zero cryptocurrency, apart from .25 BTC that a friend sent me many years ago” (February 2018). “Dogecoin might be my fav cryptocurrency” (April 2019).
Donald Trump (R): “I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air…” (July 2019).
John Delaney (D): “Chair Giancarlo’s speech at the DC Blockchain Summit sponsored by the Chamber of Digital Commerce highlights the need for tech-forward regulatory solutions. We want savvy leaders guiding the country on blockchain” (March 2019).
Tulsi Gabbard (D): (Potentially still holding crypto, but otherwise silent).
John McAfee (L): “We are creating a permissionless society” (September 2018). “Bitcoin is at the mid 10’s and people worry. LMFAO!! Why do you pay attention to weekly fluctuations? Look at the past few months FFS! It’s rising drastically. I’m still positive about my $ 1 mil BTC price by the end of 2020. Alt coins like MTC and Apollo will rise ten times more” (July 2019).
The above list – as paltry as it may seem – constitutes most of what is being openly spoken about crypto by current candidates. Save for McAfee, it’s mostly talk about blockchain, the “underlying technology” of cryptocurrencies, and the need for centralized regulations. While many news outlets are hyping Musk support for the pro-Bitcoin candidate, a more apt moniker may be the “pro-blockchain” candidate, whatever that may mean.
What are your thoughts about Andrew Yang’s position on Bitcoin? Let us know in the comments section below.
Images courtesy of Shutterstock, fair use.
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The post Elon Musk Supports Yang – But Does Andrew Yang Really Support Bitcoin? appeared first on Bitcoin News.
The last seven days have been busy within the Bitcoin Cash ecosystem with a slew of announcements and developments. Kraken exchange recently added the BCH-based Cashaddr address format and Coinbase open-sourced a utility that makes it easy to convert between Base58 and Cashaddr addresses. Additionally, the New Hampshire-based Anypay payment processor is bolstering merchant adoption by offering 10% bitcoin cashback for purchases through their point of sale services.
Bitcoin Cash Markets Hold Steady While Transactions Per Day Keep Rising
In the past week, the BCH market capitalization ($ 5.55 billion) has surpassed LTC but BCH markets are down roughly 7.8% during this period. Each BCH is swapping for $ 309 per coin and there’s around $ 1.19 billion in global bitcoin cash volume. The top exchanges trading the most BCH on Saturday, August 10 include Coinbene, Digifinex, Hitbtc, Bibox, and Okex. Right now the top trading pairs swapped against BCH are USDT (52%), BTC (28%), USD (8.7%), ETH (6.8%), and KRW (2%).
One of the biggest metrics rising over the last few weeks for BCH has been the number of daily transactions. BCH miners have been processing an average of 35-40,000 transactions (txn) per day and there have been multiple 24-hour periods above 60,000 txn per day. The influx of daily transactions is likely attributed to the Simple Ledger Protocol (SLP) tokens which have seen significant usage in recent weeks.
Kraken Adds Cashaddr and Coinbase Open Sources a Cashaddr Utility
On August 8, the San Francisco-based Kraken exchange revealed that the trading platform is switching over to BCH Cashaddr-based addresses for all deposits starting August 15th. The cryptocurrency ecosystem transitioning from the legacy address format to the Cashaddr format is very important to the BCH ecosystem. The Cashaddr address system was deployed on January 14, 2018, and since then many third-party service providers have adopted the format. Bitcoin ABC lead developer Amaury Séchet explained on Thursday that he had contacted Kraken a few weeks ago and asked them to switch to Cashaddr. “I am happy to see Kraken implement this change — It benefits users by helping them avoid mistakes when depositing funds,” Séchet remarked.
— Bitcoin ABC (@Bitcoin_ABC) August 8, 2019
In addition to Kraken adding the Cashaddr format, software engineer Josh Ellithorpe and Coinbase open-sourced a utility to convert between base58 and Cashaddr BCH addresses. The news was welcomed by the BCH community and people hope the utility introduced by Coinbase and Ellithorpe will bring more visibility to the Cashaddr format. Electron Cash developer Calin Culianu (Nilac the grim) explained that there’s open source code for Cashaddr in Python, JS, C++, Go, and more as well.
Anypay Offers BCH Cashback Promo
On Friday the crypto payment processing startup Anypay Global announced a 10% BCH back bonus for people spending bitcoin cash using the company’s system. The following day Reddit user u/Bitcointippingpoint revealed that there are 30 merchants in New Hampshire that accept crypto through Anypay and 27 of these retailers accept bitcoin cash. New Hampshire is known as the “Free State” for its large number of libertarian residents.
— Anypay (@Anypay_) August 8, 2019
Seven of the BCH merchants are located in Keene, says Bitcointippingpoint and another six BCH-accepting merchants are located in Portsmouth. “14 of the 30 have accepted a payment within the last week,” the Reddit user announced. “Can attest to using this at the Fresh Press in Portsmouth, New Hampshire — It’s pretty sweet,” explained another Reddit user discussing the 10% BCH cashback promotion for purchases through Anypay’s point-of-sale. Anypay also provides a map of all the crypto accepting merchants
Developer Tendo Pein Reveals Spending Constraints With OP_Checkdatasig
This week the creator of the BCH-based programming language called Spedn wrote a blog post on Honest.cash which detailed some interesting schemes that can be developed using the opcode OP_Chechdatasig. On August 8, Tendo Pein told the BCH development community that one of the limitations of BCH Script was that you can only specify if one can spend the coin. However, people assumed there was no way of adding spending constraints but Pein shows how it’s now possible. Pein shows three types of constraints like a simple scheme like a Pay to Public Key Hash. Then the developer shows some more complex ideas that can be achieved and uses the Spedn language to show the benefits more clearly. During the end of the post which shows another example of a spending constraint dubbed “the fanciest,” Pein demonstrates how OP_Return tokens could be miner enforceable. This particular demonstration could make OP_Return tokens built on top of the chain stronger by backing them with the network’s security.
Txhighway Visualizer Adds New Features
With the number of daily transactions picking up on the BCH chain, many supporters noticed a few issues with the transaction visualizer Txhighway.com. Since then the site’s maintainer fixed the website’s Websockets and updated the page. The Txhighway website shows a large 32-lane highway for the Bitcoin Cash network while the Bitcoin Core (BTC) network has two lanes available and during periods of BTC congestion the website gives a unique perspective of the problem. Now there’s new logos, no reference to older BSV projects, and there’s now a Badger button available for donations. Additionally, with the popularity of SLP tokens on the rise, the highway also shows Spice token transactions on the move as well.
Bitcoin Cash City Conference and the BCH Developer Congress
Overall, the Bitcoin Cash ecosystem and its participants continue to truck forward after celebrating the recent two-year anniversary of BCH. In addition to the anniversary celebrations, BCH supporters are gearing up for the Bitcoin Cash City two-day conference next month in North Queensland, Australia. On August 8, Cointext CEO Vin Armani announced an open call to all the developers who work on BCH infrastructure and provide BCH products and services to attend the first “Developer Congress.”
This is an open call for developers of products and services that support #BitcoinCash to attend the first Bitcoin Cash Developer Congress, taking place in Australia from September 3rd to September 5th.
— Ⓥin Ⓐrmani (@vinarmani) August 8, 2019
The BCH developers’ meeting will take place between September 3-5 in coordination with the Bitcoin Cash City conference. This weekend, news.Bitcoin.com spoke with Armani about the event and what will be discussed.
“The Bitcoin Cash Developer Congress is an initiative, sponsored by Bitmain, with the primary purpose of bringing together developers from across the Bitcoin Cash ecosystem to discuss and debate upcoming projects and protocols which will be put into production within the next 12 months,” the Cointext CEO explained.
What do you think about all the events within the Bitcoin Cash space over the last seven days? Let us know what you think about this subject in the comments section below.
Image credits: Shutterstock, Jamie Redman, Txhighway, and Markets.Bitcoin.com
Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry.
The post BCH News Roundup: Transactions Spike, Cashaddr Support and Developer Congress appeared first on Bitcoin News.
Marvel is now in the crosshairs of a boycott over support for Donald Trump … at least that’s what Armie Hammer seems to want. Armie just said, “Hey, while everyone seems to be on this Equinox thing, it might be a good time to mention that one of…