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| November 15, 2018

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Tuesday Archives -

What Hit Texas’ Court System Tuesday: ‘Black Girl Magic’

November 9, 2018 |

The most populous county in Texas got hit with some “black girl magic” on Tuesday—which is why you’ll now see a whole bunch of proud female African-American judges on the bench going forward. While much of the nation was hyperfocused on another race in Texas—that of Beto O’Rourke…
Newser

After turbulent day of trading, stocks off to mixed start on Tuesday

October 24, 2018 |

Stocks are off to a mixed start Wednesday following turbulent trading the day before.

Gains for Boeing and other industrial companies are offset by losses elsewhere in the market.

Boeing jumped 2.2% after beating analysts’ earnings forecasts and raising its estimates for the year, citing faster…


L.A. Times – Business

TMZ

Julie Chen Will Announce Tuesday She’s Leaving ‘The Talk’

September 18, 2018 |

Julie Chen will be leaving her daytime gig at “The Talk” … TMZ has confirmed. Sources with direct knowledge tell TMZ, Tuesday’s show will include a videotape of Julie saying she’s leaving the show immediately.   It seemed inevitable…

TMZ.com

Bitcoin in Brief Tuesday: New Patents, Research Centers and a $300M Fund

June 26, 2018 |

Bitcoin in Brief Tuesday: New Patents, Research Centers and a $  300M Fund

While short term investors and speculators might not be in the best of shape right now, the long term development of the ecosystem is still advancing on pace. Companies and institutions are continuing to invest time and money for furthering cryptocurrency research as can be seen by the stories featured in today’s edition of Bitcoin in Brief.

Also Read: Alleged Fraudster Arrested in China Over $ 15M Mining Hardware Con

Preventing the Next Mt. Gox

Bitcoin in Brief Tuesday: New Patents, Research Centers and a $  300M FundNchain, the BCH-focused R&D firm, has announced the issuance of its second patent by the European Patent Office, entitled “Determining a common secret for the secure exchange of information and hierarchical deterministic cryptographic keys.” This Deterministic Key Generation technique is said to provide for improved secure communication between a pair of nodes, while being able to keep their private keys secret. The company explains that it has already been using the technique as part of its work with SBI BITS in Japan, the subsidiary of SBI Holdings, and that its publicly available SDK offers the patented technique for any developers that need it.

Nchain CEO, Jimmy Nguyen, stated: “The Deterministic Key Generation technique will help prevent Mt. Gox-type hacks of cryptocurrency exchanges and wallets. But its potential use cases are far greater as the digital world grows with increased digitisation of assets, cloud storage of data, newer methods of digital communication, and the anticipated explosion of Internet of Things devices. The invention can provide significant security benefits for any situation in which sensitive data, assets, communications or controlled resources need to be secured.”

Stanford Research Center

Bitcoin in Brief Tuesday: New Patents, Research Centers and a $  300M FundA new Center for Blockchain Research has been founded by leading computer scientists at Stanford University. The center will be headed by professors Dan Boneh and David Mazières, and faculty will also include Alex Aiken, David Dill, John Mitchell, Tim Roughgarden and Joe Grundfest. It is meant to help scientists develop best practices for the field as well as create courses to help future students.

Prof. Boneh commented: “Blockchains will become increasingly critical to doing business globally. Stanford should be at the forefront of efforts to improve, apply and understand the many ripple effects of this technology.” Prof Mazières added: “Blockchain massively lowers the barriers to creating tradeable, digital assets. It allows individuals who don’t know each other, or even trust one another, to make irreversible transactions in a whole variety of fields in a safe and secure way.”

New $ 300 Million Crypto Fund

Bitcoin in Brief Tuesday: New Patents, Research Centers and a $  300M FundAndreessen Horowitz, the Menlo Park headquartered venture capital firm, has announced the launch of a16z crypto, a new $ 300 million venture fund that will invest in crypto companies and protocols. The fund will be led by Katie Haun, a former US DoJ federal prosecutor who worked on the Silk Road case which seats on the board of directors at Coinbase as well as taught cybercrime and cryptocurrency at Stanford Law School.

Chris Dixon, general partner at Andreessen Horowitz, stated: “We are long-term, patient investors. We’ve been investing in crypto assets for 5+ years. We’ve never sold any of those investments, and don’t plan to any time soon. We structured the a16z crypto fund to be able to hold investments for 10+ years. We have an ‘all weather’ fund. We plan to invest consistently over time, regardless of market conditions. If there is another ‘crypto winter,’ we’ll keep investing aggressively.” Regarding possible investment targets he added: “We are focused on non-speculative use case. We want services powered by crypto protocols to be used by hundreds of millions and eventually billions of people. Crypto tokens are the native asset class of digital networks, but their value is driven by the underlying, practical uses cases.”

What do you think about today’s news tidbits? 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 Bitcoin in Brief Tuesday: New Patents, Research Centers and a $ 300M Fund appeared first on Bitcoin News.

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Bitcoin in Brief Tuesday: POT Saves World, Coinbase Pumps ETC, Binance Wants EUR

June 12, 2018 |

Bitcoin in Brief Tuesday: POT Saves World, Coinbase Pumps ETC, Binance Wants EUR

The big story of the day is that a cannabis-themed cryptocurrency has been able to stage an international media coup, capturing the attention of news organizations around the world during a historic moment. Additional stories covered in today’s edition of Bitcoin in Brief include Coinbase pumping ETC and Binance’s plans to add EUR.

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

POT Prevents Nuclear Armageddon

There are three ways to go if you want to get your token on mainstream news these days: get spectacularly hacked, get someone killed, or help bring about peace between two nuclear-armed rivals. Yes, that latter approach is actually real. Potcoin has been sponsoring the peace missions of Dennis Rodman to North Korea for a while now and it is bearing fruit. Two of the basketball star’s friends, US President Trump and Kim Jong-un, have met in an unprecedented occurrence and POT was able to get into the limelight of this histrionic event.

As an example of how much priceless exposure this stunt has brought the altcoin, here is a 16 minutes long interview on CNN with Rodman wearing a POT shirt.

Binance Wants EUR “Soon”

Cryptocurrency exchange Binance plans to leverage its recent Malta operations, which earlier this year were welcomed by the nation’s Prime Minster no less, to allow clients to trade crypto-fiat pairs soon. The popular trading venue will enable euro transactions later this year, and plans to add other fiat currencies as well, according to CEO Zhao Changpeng. CZ further told Bloomberg that Binance will soon acquire a license from the UK’s offshore tax heaven of Jersey in the English Channel, and plans to open an office on the island with as many as a hundred employees. The exchange is also in talks with authorities and banks in Taiwan, the CEO revealed.

Coinbase Pumps ETC

Bitcoin in Brief Tuesday: POT Saves World, Coinbase Pumps ETC, Binance Wants EURCoinbase, the San Francisco-based cryptocurrency exchange, has announced that it intendeds to add support for Ethereum Classic (ETC) to the platform in the coming months and the altcoin’s price quickly reacted by jumping about 20%. Unlike some major ETC holders that cheered the news, most commenters online seem to deride the move. Critics complain that adding ETC is easy, as it is just an ether fork, and thus Coinbase choose a lazy approach to selecting new assets, even if they are not popular or widely used.

According to the company’s procedures for the process of adding new assets, which were set up to prevent new accusations of insider trading, they can only now begin the engineering work for supporting ETC. So, users can expect to see public-facing APIs and other signs that the asset is being added. When they reach the final testing phase of the technical integration, which is expected to occur over the next few months, Coinbase will publicly announce a launch date.

Wells Fargo Joins Credit Card Ban

Wells Fargo & Co. (NYSE:WFC), the American retail banking giant, is the latest big financial institution to decide for its customers that they can no longer be trusted to use their own credit cards to invest in bitcoin and other cryptocurrencies. “We will continue to evaluate the issue as the market evolves,” Wells Fargo spokeswoman said in a statement. “We’re doing this in order to be consistent across the Wells Fargo enterprise due to the multiple risks associated with this volatile investment.” The bank thus closes ranks with other companies in its industry, like JP Morgan Chase, Citigroup and Bank of America, in a ban on buying crypto with credit.

Valve Shuts Down Opskins’ Trade on Steam

Bitcoin in Brief Tuesday: POT Saves World, Coinbase Pumps ETC, Binance Wants EUR
CS GO Tournament

Valve Corporation, the digital distribution company, has notified the game items marketplace Opskins that it disables its accounts associated with trade on the popular Steam platform by June 21, 2018. Opskins only launched Express Trade for CS:GO on June 6, and Valve quickly determined that it “uses Valve intellectual property and violates our Steam Subscriber Agreement, and is already being used by other businesses to avoid Valve policies.”

For its part, Opskins informed users it isn’t going anywhere and has announced the integration of items for nineteen blockchain-based games and services, as “they are smart-contract based, these items cannot ever be taken away from item owners or held to trade restrictions.”

What do you think about today’s news? 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 Bitcoin in Brief Tuesday: POT Saves World, Coinbase Pumps ETC, Binance Wants EUR appeared first on Bitcoin News.

Bitcoin News

Bitcoin in Brief Tuesday: Exchange ETF Action and Wozniak Wants Bitcoin to Rule World

June 5, 2018 |

Bitcoin in Brief Tuesday: Wozniak Wants Bitcoin to Rule the World

In today’s edition of Bitcoin in Brief we feature news about a Dubai-based exchange returning to accept local fiat deposits, another exchange launching an ETF-like product and the response by a popular wallet to a cyber attack. But the big story, without a doubt, is Woz’s undying commitment to the idea of bitcoin.

Also Read: Crypto Point-of-Sale Devices Begin Roll-Out in Indonesia Despite Ban

Apple Co-Founder’s High Hopes for Bitcoin

Steve Wozniak, the genius co-founder of Apple Computers, has once again spoken about his fascination with the tech and principles of bitcoin. “Bitcoin is mathematically defined, there is a certain quantity of bitcoin, there’s a way it’s distributed… and it’s pure and there’s no human running, there’s no company running and it’s just… growing and growing… and surviving, that to me says something that is natural and nature is more important than all our human conventions,” he told CNBC. “Only bitcoin is pure digital gold… and I totally buy into that,” Woz added.

Okex’s New Exchange Traded Tracker (ETT)

Okex, the Chinese-run cryptocurrency exchange based in Hong Kong, has joined the recent trend of trading platforms creating their own ETF-like investment tools for their users. It launched its first exchange traded tracker (ETT) on June 5, which was fully sold out within just three minutes. It includes six coins (BTC, ETH, LTC, BCH, EOS, and OKB) and requires USDT to subscribe. The minimum subscription for the instruments is 100 units.

A couple of days ago, we reported that Huobi, the Singapore-headquartered exchange, has decided to create its own ETF style instrument based on an index of ten assets.

Bitoasis Resumes Dirham Transactions

Bitcoin in Brief Tuesday: Wozniak Wants Bitcoin to Rule the WorldLast month, Dubai-based cryptocurrency exchange Bitoasis enacted a suspension of deposits and withdrawals in UAE dirhams. This Monday, without explaining what was the cause of the issue, the company announced that transactions are reinstated. In a letter to its clients, quoted by Arabian Business, Bitoasis apologized for the inconvenience and said that now “users can deposit and withdraw their funds in AED as usual, without any interruption.”

“In light of the recent inconsistency of service across our payment options, we will be revising and updating the options available to our customers on the platform to ensure continuity of our services,” the Bitoasis statement continued. “We will be notifying our customers with the update on our new payment options soon.”

Myetherwallet Attack Blamed on Russian Hackers, Uneducated Users

Myetherwallet (MEW), the web’s most popular client-side ethereum wallet, has been compromised by a DNS attack on April 24, 2018. Today the team behind the wallet issued a response to the event, further explaining what happened and detailing the steps taken to prevent its reoccurrence.

They say that the attack was carried out by a native Russian speaker, which was able to phish only about $ 150,000 worth of ether from MEW users. They quote Internet Security experts as explaining that the “financial resources required for such an attack likely exceeds the amount of funds taken.”

The team added that it is a lack of safety education that led some clients to fall for the fraud. “We hope that from this experience, every single person who interacts with cryptocurrencies and the blockchain will understand how important self-education is. In the end, you and only you are responsible for your security.”

What do you think about today’s news? Is bitcoin going to be the world’s single currency in ten years? Share your thoughts in the comments section below. 


Images courtesy of Shutterstock.


Now live, Satoshi Pulse. A comprehensive, real-time listing of the cryptocurrency market. View prices, charts, transaction volumes, and more for the top 500 cryptocurrencies trading today.

The post Bitcoin in Brief Tuesday: Exchange ETF Action and Wozniak Wants Bitcoin to Rule World appeared first on Bitcoin News.

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Bitcoin in Brief Tuesday: Crypto Revolution Starts Reshaping Global Politics

May 22, 2018 |

Bitcoin in Brief Tuesday: Crypto Revolution Starts Reshaping Global Politics

Before all the Lambo memes, shady no-product ICOs, and get-rich-quick schemes invaded the scene, Bitcoin was meant to disrupt the current economic system. Today’s edition of Bitcoin in Brief showcases how that promise is starting to materialize in different fields, including the future of elections and geopolitics.

Also Read: Bitcoin in Brief Monday: New EU Rules Kill Another Crypto Venture

Iran and Russia Consider Bitcoin to Skirt Sanctions

Bitcoin in Brief Tuesday: Crypto Revolution Starts Reshaping Global PoliticsIranian and Russian lawmakers are jointly examining the idea of using cryptocurrency to bypass international and American sanctions. Mohammad-Reza Pourebrahimi, who chairs the Iranian Parliamentary Commission for Economic Affairs, raised the idea during a recent meeting in Moscow with Dmitry Mezentsev, the Chair of the Federation Council Committee on Economic Policy. He explained that the Russians “share our opinion. We said that if we manage to move this work forward, then we will be the first countries that use digital currencies in the exchange of goods.”

Iran’s government-owned media Press TV reports that the country’s leadership “specifically started to look at bitcoin as an alternative monetary means to be used in trade after it became clear that European companies were failing to trade with Iran over fears that they would fall afoul of US primary sanctions.”  It should be noted that the Iranian government is trying to stop its citizens from having access to global markets it seeks for itself, banning banks from dealing with crypto and even traditional foreign currency exchange shops. Still, Iranian citizens have reportedly sent more than $ 2.5 billion out of the country to purchase cryptocurrencies with.

US Politician Raises $ 100k From Crypto Community

Congressional candidate Brian Forde has celebrated on Monday in San Francisco his campaign raising $ 100,000 in cryptocurrency donations. A former head of MIT’s Digital Currency Initiative and Obama’s Senior Technology Advisor, he is considered to be a vocal supporter of cryptocurrency. Meanwhile his main Democratic opponent, a former SEC enforcement attorney, has attacked Forde for his work in cryptocurrency, referring to his donors in an ad as “bitcoin speculators that oppose cracking down on drug deals and human trafficking.”

This contested race is shaping up to be a major example of cryptocurrency impact on electoral politics in America. It is also nice to see that the matter is now getting bipartisan support in the US. As we recently reported, on the other side of the country and the opposite side of the aisle, a Trump-supporting Republican and a bitcoin enthusiast is running to be the next New York Attorney General.

Liberation Through Radical Decentralization

Bitcoin in Brief Tuesday: Crypto Revolution Starts Reshaping Global PoliticsVitalik Buterin has co-written a short manifesto of sorts with the young political economist Glen Weyl, unapologetically titled “Liberation Through Radical Decentralization.” In it they explain how the cryptocurrency ecosystem is suited for developing and testing new models for governance, voting and more, in a way that can fundamentally change how both democracy and capitalism work.

They remind us that: “Bitcoin and other cryptocurrencies in particular emerged directly as a reaction to the perceived excesses of the traditional financial system, with ‘The Times 03/Jan/2009 Chancellor on brink of second bailout for banks’ carved indelibly into Bitcoin’s genesis block. That said, the decentralized technologies behind cryptocurrencies have potential applications far beyond finance.”

Real Products, Real Adoption

With all the recent news about so many ICOs being outright scams or just failures, it’s good to remember that there are actual projects in the cryptocurrency space that are delivering real services to real users. Two recent examples are Brave and Steemit, coincidentally two different attempts to change how online content monetisation works.

The Brave browser recently passed 5 million downloads for the Android operating system and now boasts over 2.3 million monthly active users and over 14,000 verified publishers. And recently the one millionth account was created on the Steem blockchain, which now sees around 60,000 unique accounts transacting each day, and over 250,000 unique daily visitors for the site.

What do you think about today’s news updates and what they mean for the future? Share your thoughts in the comments section below. 


Images courtesy of Shutterstock.


Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a store. And a forum. And a casino, a pool and real-time price statistics.

The post Bitcoin in Brief Tuesday: Crypto Revolution Starts Reshaping Global Politics appeared first on Bitcoin News.

Bitcoin News

Bitcoin in Brief Tuesday: NY Regulator Approves Bitcoin Cash, Zcash and Litecoin Trading

May 15, 2018 |

Bitcoin in Brief Tuesday: NY Regulator Approves Bitcoin Cash, Zcash and Litecoin Trading

The slow but steady growth in the limited trading options available to American investors on regulated exchanges is the main focus of today’s edition of Bitcoin in Brief. Additionally covered are a surprise resignation, another ransomware attack, and much more.

Also Read: Steve Eisman of ‘The Big Short’ Fame: What Value Does Cryptocurrency Actually Add?

NYDFS Approves Expanded Crypto Portfolio

New York State Department of Financial Services Superintendent Maria T. Vullo has announced on Monday that Gemini Trust Company LLC has been authorized to offer the custody services and trading of Zcash, Litecoin and Bitcoin Cash on its exchange based in NYC. She said: “This action continues New York’s longstanding commitment to innovation and leadership in the global marketplace. With smart and thorough regulatory oversight, the development and long-term growth of the industry will remain thriving.”

The addition of Zcash especially seems to have taken the market by surprise, leading to its price jumping over 40% in the last twenty-four hours. Back in March, the founders of the trading venue revealed that adding new cryptocurrency options are high on the company’s agenda this year, with BCH and LTC at the top of the list. Tyler Winklevoss, CEO of Gemini, commented on Monday: “We are proud to be the first licensed exchange in the world to offer Zcash trading and custody services and look forward to providing customers with a safe, secure, and regulated place to buy, sell, and store Zcash, an incredible new form of digital cash.”

Surprise CEO Resignation

Okex Rolls Back Futures Contracts After Liquidations Leave Traders ReelingChris Lee, Chief Executive Officer at Chinese-run cryptocurrency exchange Okex, has reportedly left his position with the Hong Kong based company. Lee cited personal reasons for his departure, seeking to “start a new life,” the exchange stated on Monday. According to his spokeswoman, Lee added it had been the “greatest pleasure and an honor” to work at Okex and that he will return to the blockchain community after a short break to spend time with his family. The surprising move raised some speculations online as for the reasons.

$ 1 Million Bitcoin Heist Foiled

According to media reports from the state of Georgia, the Forsyth County Sheriff’s Office found that five young men had conspired to break into a local home and steal nearly $ 1 million in bitcoin. Their robbery investigation has reportedly been ongoing since January, following a drug bust. The five young men, Justin Ellison, Trivette Adams, Matthew Schwartz, Jacob South, and Michael McDermont, have been charged with residential strong arm robbery and are being held in a detention center without bond.

Australian Sexual Health Provider Held for Ransom

Bitcoin in Brief Tuesday: NY Regulator Approves Bitcoin Cash, Zcash and Litecoin TradingFamily Planning New South Wales, one of Australia’s largest reproductive and sexual health service providers, has sent out an email to its clients on Monday notifying them that it reported a cyber attack on its website to Australian Federal Police.

“I want to stress to people that this has absolutely nothing to do with, and has no impact on our clinical medical records, they’ve always been secure,” the organization’s chief executive Ann Brassil said at a press conference on Monday. “There’s no evidence that this cyberattack was on Family Planning NSW itself;…and it appears it was an attack for ransom, so it was financial. The ransom said we are shutting down your website and you pay us $ 15,000 in Bitcoin for us to release the website, and it had a clock ticking down.”

Polish Propaganda

Polish financial authorities have again been found to spend taxpayers’ money on a smear campaign on social media against investing in cryptocurrencies. Poland’s Financial Supervision Authority (KNF) has issued a new tender order to plan and conduct a campaign aimed at “building awareness” among the public for the risks associated with investing in cryptocurrencies, pyramid schemes and forex activities unsupervised by the KNF.

Earlier this year it was reveled that the Central Bank of Poland and KNF had paid over 90,000 PLN (złoty) to, among others, a Polish Youtube content network which represents many popular young local content creators to produce anti-crypto videos.

What do you think about today’s news updates? Share your thoughts in the comments section below. 


Images courtesy of Shutterstock.


Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a store. And a forum. And a casino, a pool and real-time price statistics.

The post Bitcoin in Brief Tuesday: NY Regulator Approves Bitcoin Cash, Zcash and Litecoin Trading appeared first on Bitcoin News.

Bitcoin News

Upgrade Time: Bitcoin Cash 32MB Fork Activates Tuesday

May 11, 2018 |

Upgrade Time: Bitcoin Cash 32MB Fork Activates Tuesday

In less than a week on May 15, the Bitcoin Cash (BCH) network will be upgrading the base block size from 8MB to 32MB, as well as re-enabling and adding some OP_Codes to the codebase. With just days left there are a few things BCH holders and full node operators should know before the upgrade takes place this coming Tuesday.

Also read: Japan’s GMO Has Mined Over 900 Bitcoins – Hashrate Doubled Last Month

Just a Few Days Left Until the May 15th Bitcoin Cash Upgrade

The Bitcoin Cash network is about to perform the largest block size increase ever as the upgrade will expand the block size by 4X on May 15, 2018. The development team has also added ‘Satoshi OP_Codes,’ and the fork will also increase the protocol’s default data-carrier-size to 220 bytes. Unless you run a BCH full node implementation there is not much a common user needs to do, except refrain from transacting during the upgrade.

Upgrade Time: Bitcoin Cash 32MB Fork Activates Tuesday

The Hard Fork Activation Will Use the Median Time Past Method

The BCH fork on May 15 will be similar to the fork activations that took place on August 1, and the DAA fork that took place this past November. This means the activation will take place on May 15, but there won’t be specific block height, because the upgrade will activate based on ‘Median Time Past’ (MTP). The initiation of the hard fork will begin on Tuesday, May 15 at 12:00:00 UTC, 2018, but the upgrade will not be implemented until the MTP timestamp and the processing of 11 blocks equal to or greater than 1,526,400,000 takes place. Following this period after the next block, the 32MB upgrade will be live on the BCH network.

Full Node Clients and Miners Must Update Software

Full node operators need to upgrade their Bitcoin Cash clients as soon as possible, before the fork begins. ABC users can download the latest Bitcoin ABC 0.17.1 version here, and those operating other full nodes like Bitcoin Unlimited, or XT should upgrade to the client that supports the 32MB increase. At the moment looking at data for the most dominant BCH client, Bitcoin ABC, it shows a great majority of nodes have already upgraded to the latest 0.17.1 ABC version. Full node operators and miners are required to upgrade their software in order to participate during and after the network change.

Ordinary Users Should Refrain from Transacting With BCH During the Upgrade and Patiently Wait for the Fork to Complete

Upgrade Time: Bitcoin Cash 32MB Fork Activates Tuesday
It is best not to transact with BCH during the May 15th Bitcoin Cash upgrade.

Ordinary users don’t have to do much of anything, except keep up to date with current events concerning the fork, and its best not to transact during the activation period as well. This means if you don’t have to send money on May 15, then wait until the fork is complete before transacting with BCH. It’s always a good measure to look out for any updates provided by your exchange or wallet provider to make sure the platform you use is ready to accept the network changes. If your BCH service provider does not give any fork updates, it’s probably safe to assume that the exchange or wallet provider is ready for the upgrade. So on May 15 if your money is on an exchange or held within a non-custodial wallet all you really have to do is patiently wait until the fork is finished.

Last November’s Successful Hard Fork Shows There Shouldn’t be Any Complications

The May 15th Bitcoin Cash fork that will change the protocol’s base block size to 32 MB, while adding some other interesting features will be quite a milestone for the BCH community. The last fork that took place this November was successful, and the new Difficulty Adjustment Algorithm (DAA) has worked flawlessly ever since. The 32MB increase will be much larger than the already sizable 8MB blocks, and the upgrade will likely be a historic day for public blockchain consensus upgrades.

What do you think about the fork taking place on May 15 that will increase the base block size to 32 MB? Let us know what you think about this subject in the comments below.


Images via Shutterstock, and Pixabay.


Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a store. And a forum. And a casino, a pool and real-time price statistics.

The post Upgrade Time: Bitcoin Cash 32MB Fork Activates Tuesday appeared first on Bitcoin News.

Bitcoin News

Bitcoin in Brief Tuesday: Bank Wires, Tickets, and Diplomas on Blockchain Tech

May 8, 2018 |

Bitcoin in Brief Tuesday: Bank Wires, Tickets, and Diplomas - on Blockchain

The prospect of transferring an entire national payment system to blockchain technology deserves attention and we are covering the story in today’s Bitcoin in Brief. Reports that Russia may transform its version of SWIFT as early as next year coincided with the news that the US banking giant JP Morgan has applied for a blockchain patent for inter-bank payments. Projects to secure documents, diplomas, and even tickets using blockchain technologies are also part of Tuesday’s round-up.

Also read: Bitcoin in Brief Monday: Elon Musk Takes on Bitcoin-Bashing Warren Buffett

Russian Version of SWIFT to Be Transferred to Blockchain in 2019

Russia may put its money transferring system on a blockchain as early as next year, according to local media reports. Authorities in Moscow are planning to convert the Financial Communications Transfer System (SPFS), Russia’s equivalent to SWIFT, to a blockchain system, sources close to the Russian central bank told Izvestia.

Bitcoin in Brief Tuesday: Bank Wires, Tickets, and Diplomas - on BlockchainSPFS was developed as a backup alternative following discussions in the West on proposals to withdraw SWIFT from Russia as part of the sanctions imposed after the annexation on Crimea. The system was implemented in 2014, when Centrobank also developed its own version of bank cards called Mir. At the time, several Russian banks were denied services by US-based Visa and Mastercard. Mir cards were first issued in 2015. Last year their number reached 19 million.

Almost 600 banks currently use the Russian national payments system, which now covers countries in the European Economic Area (EEA). Its transaction costs are lower than those of SWIFT, which makes it attractive to foreign financial services providers. The move of SPFS to blockchain technology would be a major development in both the banking sector and the blockchain industry.

American Giant Eyes Blockchain for Inter-Bank Transfers

As it turns out, blockchain tech is attractive not only to sanctioned Russian banks. American investment banking giant JP Morgan Chase has applied for a patent to facilitate inter-bank payments using the technology underpinning cryptocurrencies like bitcoin. The application was submitted in October last year but the news surfaced last week. The patent is essentially a variation on blockchain technology, as news.Bitcoin.com reported. It outlines a system that would use distributed ledger technology to keep track of payments between financial institutions.

Motivating its application, the New York-based financial company points out that the number of messages between banks and clearing houses involved in cross-border bank wires often results in delays and restricted availability of funds. According to JP Morgan, the blockchain would eliminate high costs and provide a system for accurate transaction logging. It would also allow them to process payments in real time and audit the transfers in a verifiable way. The patent application comes as a surprise, given that JP Morgan CEO Jamie Dimon has a record of downplaying the importance of crypto technologies, calling bitcoin a “fraud” and vowing to fire anyone from his team if they traded bitcoin.

Startup Recording Diplomas on Blockchain Raises $ 3 million

Learning Machine Technologies, a software company working with governments, businesses, and educational systems to develop official blockchain records, has raised $ 3 million dollars. The seed round was led by PTB Ventures, a venture capital firm investing in the emerging digital identity ecosystem, and included strategic investments from Omidyar Network and Learn Capital.

Bitcoin in Brief Tuesday: Bank Wires, Tickets, and Diplomas - on BlockchainLearning Machine’s software facilitates the issuing of blockchain-based credentials called “Blockcerts”. The concept has been developed in partnership with the Media Lab of the Massachusetts Institute of Technology. According to the partners, the Blockcerts standard can be used to record digital diplomas on blockchain. Blockcerts can be issued to any public or private blockchain, including those of bitcoin and ethereum, and do not require proprietary software to view or verify.

The Blockcerts standard is open source and allows for full security audits. It is a community extension hosted by international technical standards organization IMS Global. “Learning Machine counts governments, multinational corporations and leading educational institutions as customers of its enterprise issuing system,” said CEO Chris Jagers, quoted by PRnewswire. In his words, the platform makes issuing Blockcerts seamless for institutions and provides them “a bird’s-eye view of their credentialing operation”. The software also helps policymaking, workforce development and alumni relations with detailed analytics.

Blockchain Certificate to Replace Five Documents in “Digital Kazakhstan”

At least five documents issued by authorities in Kazakhstan are to be replaced with blockchain-based certificates. A newly developed application called Azamat is capable of issuing electronic versions of driver’s licenses, vehicle registrations and inspection certificates, insurance policies, and proof of identity documents. Azamat also allows access to the recorded information through a QR scan.

The project is part of the state-sponsored efforts to digitize many services offered by government institutions and also the economy of the Central Asian country. The “Digital Kazakhstan” program was announced by Astana towards the end of last year. Authorities are preparing amendments to the current legislation that would allow the “complete replacement of paper documents” with digital copies.

Adele Tickets on the Blockchain?

Bitcoin in Brief Tuesday: Bank Wires, Tickets, and Diplomas - on BlockchainThe secondary market for tickets in Great Britain costs billions of dollars each year. A last-minute decision to attend an Adele concert could mean spending up to $ 12,000 on the black market, according to The Guardian. Aventus is a company that hopes to solve the problem with the illegal resales using blockchain technologies. Its platform will be tested with the sale of 10,000 tickets for a variety of events in Europe and the US.

Aventus has teamed up with another blockchain platform, Blocside, to try its concept during the 2018 FIFA World Cup in Russia this summer. It also hopes to offer its services to Premier League football clubs in the United Kingdom. Its team claims that the blockchain technology ensures the data on the tickets remains unaltered and protected from forgery. Ticket fraud is a profitable illicit business in the UK, with an annual turnover estimated at $ 1.3 billion.

Do you think the implementation of distributed ledger technologies and the use of the blockchains of leading cryptocurrencies in other sectors will increase? Tell is in the comments section below. 


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