Another solution would be to hard fork Bitcoin and implement a fixed increased block size right away. On paper, this solution has a lot of potential, but it may not be the best option for Chinese mining pools. With their slower broadband speeds, huge Bitcoin blocks will be harder to process by the mining pools, who control the majority of network hashpower. http://themerkle.com/bitcoin-hard-fork-proposal-gains-traction-in-btcfork-subreddit/ |
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It is evident Thomson Reuters wants to advance their role in the blockchain world. Ever since collaborating with customers on proof-of-concept initiatives for quite some time, the company has been looking to take things to the next level. The R3 consortium seems to fit the bill perfectly for the time being. http://fintechist.com/thomson-reuters-now-part-r3-blockchain-consortium/ |
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The lack of cryptocurrency regulation is a thorn in the side for the Reserve Bank of Zimbabwe. Then again, this is to be expected from a financial institution which cannot exert control over Bitcoin. Consumers and retailers are free to do whatever they want, and if they prefer Bitcoin, the Reserve Bank of Zimbabwe will not be able to stop them. http://fintechist.com/reserve-bank-zimbabwe-labels-bitcoin-risky/ |
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One thing blockchain and Fintech startups are most concerned about right now is regulation. The approach of “innovate first and worry about rules later’ may pay off for companies who get significant traction. Uber and Airbnb are two prime examples of how this approach can pay off. But the number of those successful companies is a lot lower, making things very difficult for innovative projects that may not attract thousands of users in the first months. http://themerkle.com/lobbyists-can-relieve-regulatory-concerns-for-fintech-and-blockchain-startups/ |
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That being said, the new fee structure will jack up the cost to 3.99% or more. This sudden quadrupling of fees will not make sense to most of Coinbase users, and it is not difficult to see why that would be the case. Going from 1% to 3.99% is quite a margin, as things do not seem to be getting more expensive for Coinbase when it comes to processing these payments. http://themerkle.com/coinbase-quadruples-fees-for-credit-and-debit-card-transactions/ |
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Over the years, the GreenAddress solution has become synonymous with cross-platform compatibility. Available on Chrome, iOS, and Android, it was one of the first wallet solutions to bring such a security standard to different devices. All of this is achieved without storing the users’ private keys on the company servers as well. http://fintechist.com/bitcoin-wallet-provider-greenaddress-acquired-blockstream/ |
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According to the TransferWise team, they will no longer support cryptocurrency platforms due to “regulatory requirements”. To the average user, this may sound logical, but it is a load of BS in the end. The CEO of TransferWise recently stated how Bitcoin is “dead”, and this decision has more to do with that train of thought than any regulatory issue, by the look of things. http://themerkle.com/transferwise-blocks-money-transfers-to-bitcoin-companies/ |
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Their official statement mentions how GDAX “only supports trading and withdrawal for ETH”. There is absolutely no mention of ever supporting ETC, but the bigger question is what they will do with the corresponding Classic tokens. For now, all of the ETC associated with the Ethereum hard fork balances is being kept in cold storage. Or to put it differently, GDAX owns all of the users’ ETC and will keep them locked down until mentioned otherwise. http://fintechist.com/gdax-plans-keep-users-post-hard-fork-etc-funds/ |
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Florida Judge Pooler was appointed this case, and after thoroughly reviewing all of the evidence, she declared Bitcoin is property and not money. After all, if Bitcoin isn’t money, one can’t be a money transmitter. Nor can one be involved in laundering money, unless property laundering becomes a new criminal offense in the next few decades. http://themerkle.com/florida-judge-defines-bitcoin-as-property-rather-than-money/ |
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That being said, it is possible to decrypt the data, although it will take a more complicated process than normal. Interestingly enough, CTB-Faker often spreads through adult websites, particularly those promoting private striptease dance videos. Platform visitors are invited to download a zip file containing an executable file, containing the CTB-Faker ransomware. http://themerkle.com/security-researcher-provides-free-decryption-of-ctb-faker-ransomware/ |
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It has to be said; Ethereum Classic has done quite well so far. There was an obvious concern regarding the longevity of running side-by-side with Ethereum, but the support for ETC continues to grow. Prices are slightly dipped as we speak, though, but the trading volume has surpassed 25,000 Bitcoin in the past 24 hours. http://fintechist.com/shapeshift-io-bitmex-announce-support-ethereum-classic/ |
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What makes this story rather intriguing is how the head of Party of Growth is Boris Titov. That name may ring a bell for some people; as he is an advisor to Vladimir Putin himself. Titov’s role focuses on business and entrepreneurial topics, which opens exciting opportunities for the future of Bitcoin in the country. http://fintechist.com/party-growth-can-influence-future-bitcoin-russia/ |
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Attributing to the success of Surbitcoin over the past few years has been their feature to deposit and withdraw fiat instantly. The majority of funds is transferred in less than 30 seconds on average, which is a lot faster compared to other platforms. Once that feature was no longer available, things were not looking good. http://fintechist.com/surbitcoin-exchange-resumes-operations-banesco-api-outage/ |
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In most cases, developers and entrepreneurs are responsible for creating new and innovative blockchain applications. Banks, on the other hand, tend to study the technology before putting something together themselves. More importantly, there are growing concerns bankers do not properly understand the technology at this stage, which is not entirely surprising. http://themerkle.com/reserve-bank-of-india-nudges-banks-to-develop-blockchain-apps/ |
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The Narcotics Control Bureau, which is India’s anti-narcotics agency, noticed increased darknet activity in India not too long ago. One could compare the NCB with the DEA in the US, as they are an official law enforcement agency. The bread and butter of their investigations is sniffing out illegal drug trafficking, and the darknet lends itself perfectly to that type of activity. http://fintechist.com/indian-law-enforcement-developing-new-darknet-tools/ |
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The positive side in all of this is how Blockstream will not be able to harm the Bitcoin ecosystem without patents. Moreover, the bigger question becomes what this company is spending its time on, if they are not pursuing patents in the blockchain world. In the end, the news they “announced” roughly a week ago was nothing more than a promotion stunt. For now, the company is nothing more than vaporware as far as patents are concerned. http://themerkle.com/there-is-no-such-thing-as-a-blockstream-patent-for-now/ |
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