The Bitcoin price has taken another massive dip over the weekend. Pinpointing the exact reason for that development is not all that easy. Some people blame the hack of CoinRail to be the culprit. However, the exchange is a small platform with a less-than-great reputation in South Korea.

CoinRail Hack is Unfortunate

Whenever a cryptocurrency exchange is hacked, panic ensues. In the case of CoinRail, the actual impact on cryptocurrency markets is minimal. It was ranked outside of the top 80 by overall trading platform. Additionally, it mainly specializes in trading smaller tokens with a low market cap and little market presence. With this information in mind, the hack of CoinRail is not important for the major cryptocurrencies.

Even so, some media sources gladly claim otherwise. It is evident the cryptocurrency market has taken a nosedive. The correlation with the Coinrail incident, however, remains unproven and seems virtually non-existent.  It is possible some of the stolen funds from the exchange is converted to Ethereum or Bitcoin in the process. However, that would represent marginal amounts of either currency and cannot trigger a massive market sell-off.

Spooking the cryptocurrency markets has become worryingly easy these days. Any major incident can trigger a wave of panic selling. At the same time, one has to wonder if there isn’t more to the ongoing Bitcoin price manipulation investigation launched in the US. All of these correlations seem to occur at the most opportune time for speculators to drive the price down.

Looking for Long-term Momentum

As Binance CEO Changpeng ZHao stated, this most recent dip is not unusual. A lot of volatility takes place in the cryptocurrency world at all times. Ups and downs occur every single day, and it seems that situation will remain in place for some time to come. Long-term veterans acknowledge this is nothing to worry about when looking at the longer picture.

Given South Korea’s position in cryptocurrency, it’s only normal the CoinRail news is highlighted. However, one has to acknowledge the bad news is also what most MSM are looking for rather than focus on positive news. There are a lot of things happening in the world of cryptocurrency which will result in positive developments over the coming years.

Bitcoin and Ethereum will both scale beyond their current capabilities. Litecoin aims to make an impact in the merchant industry. Other currencies which are worth their salt will also find their place in the market. Additionally, a lot of financial industry experts are convinced cryptocurrencies will still be a big part of the future of finance moving forward. From a long-term perspective, things are looking just fine. As such, the Bitcoin price will rebound eventually.

https://www.newsbtc.com/2018/06/11/no-bitcoin-price-didnt-fall-minor-cryptocurrency-exchange-hacked/

Huobi, the world’s third largest crypto exchange by trade volume, has created a new digital currency trading marketplace in the US, Financial Magnates reports Friday, June 8th.

The platform comes via a newly created San Francisco-based company called HBUS, which, as stressed in a Medium post earlier this week:


HBUS’ Medium post, dated June 5, indicates a ‘soft launch’ - pre-registration - date of June 10, offering all users who sign up between June 10 and June 14 a month of trading without fees.

Official trading is set to launch June 15, although HBUS’ website suggests that “overwhelming demand” may postpone the launch, and appeals to the public to sign up for a newsletter and its Telegram channel to be notified when registration opens.

Huobi, originally founded in China, first revealed its plans to open an office in San Francisco in January this year. Now headquartered in Singapore, the exchange has been vigorously targeting overseas markets, launching a South Korean subsidiary, as well as announcing plans to open an office in London.

The US context places high demands on crypto exchanges to come under the purview of regulators, and an HBUS post this week has duly stressed that all its employees have been “educated” in Anti-Money-Laundering (AML) and Counter-Terrorism Financing (KYC), and have been “required to pass tests” on the subjects.

As it vies with leading rival crypto exchanges Binance and OKEx, Huobi has been actively diversifying its investment products and services, announcing the launch of its new public blockchain just two days ago.

Earlier this month, Huobi launched a crypto-based exchange traded fund (ETF), a type of mutual fund that divides ownership of underlying digital assets into shares. The ETF is based on its recently launched market index, which tracks the exchange’s 10 top-traded digital assets against Tether (USDT).

On June 2nd, Huobi entered into a partnership to launch a $93 mln China-South Korea investment fund for blockchain startups, aiming to foster collaboration between the two countries.

https://cointelegraph.com/news/third-largest-crypto-exchange-huobi-creates-new-platform-in-us

Bart Smith, who was crowned “Wall Street’s Crypto King” by CNBC, is optimistic that institutional investors will start pouring money into the cryptocurrency market once more regulatory clarity is provided.

Smith heads the digital asset group at Pennsylvania-based investment firm Susquehanna International Group, which first experimented with bitcoin trading in 2014.

Since then, the privately-held company has launched a crypto trading desk manned by a dozen traders who buy and sell millions of dollars in bitcoin and other cryptocurrencies every day.

“We have a dedicated team of traders and technologists,” he told CNBC. “We’ve been trading bitcoin primarily, but in 2017 as the marketplace expanded, we expanded the number of coins we were trading and the number of exchanges we were providing liquidity on.”

Smith added: “We are trading on average a couple hundred million dollars a day [on bitcoin futures] across CME and CFE combined that’s not retail.”

More Or Less Regulation Is Not the Issue

Smith says cryptocurrency evangelists shouldn’t focus so much on whether or not there should be regulation, but moreso on the importance of regulatory clarity.

“There’s a big debate going on about whether there should be more or less [crypto] regulation. From our standpoint, it’s really about regulatory clarity,” Smith noted. “There has been a tremendous amount of focus on the SEC and Chairman Clayton’s comments. But it’s really a whole host of other regulatory agencies out there, because the ecosystem expands beyond the traditional financial assets.”

Smith underscored:


Read more: https://www.ccn.com/wall-streets-crypto-king-says-regulatory-clarity-will-jumpstart-institutional-investments/

There will be a total of 990 million OMX tokens (33% of the 3 billion total supply) available for purchase during the token sale with a hard cap of 75,000 ETH.

Tokens allocated for the team and advisers will be vested for 1.5-3 years

Below is the token distribution: 33% Token Sale , 20% Growth Pool , 20% Reserve, 14% Founders, 10% Advisers, 3% Community

I opened Caviar website and noticed that they scheduled CAView beta release on June 2018. So this month guys from Caviar can show us something interesting. Hope this beta release is being planned before AMA 28th of June.

DATA ( Децентрализированный AI - управляемый альянс), основанный на блокчейн рекламный протокол и стек технологий для идентификации пользователя и информации с устройств, для устранения мошенничества в рекламных екосистемах, DATA будет способствовать перераспределению ценности к конечному пользователю, на основе его прав на личные данные.

С началом партнерства между DATA и Datawallet, две компании анонсируют совместные планы по строительству пользовательско-ориентированной рекламной сети.

The Russian government has taken a cautious approach to cryptocurrencies, president Vladimir Putin said during an annual "hotline" on Thursday.

Asked if Russia will have its own cryptocurrency one day, Putin said he doesn't see such an outcome as possible because cryptocurrencies "by definition are beyond the national borders."

While expressing that caution, he nonetheless admitted that cryptocurrencies are "developing in the world" and that Russia should explore the opportunities around the tech. Among the possible uses, he said, was to "avoid various limitations in global finance trade" – a suggestion that blockchain could help ease sanctions against Russian banks, companies and individuals imposed in recent years.

Putin also noted during the four-hour annual session that cryptocurrency mining – the energy-intensive process by which new transactions are added to a blockchain, with new coins being "minted" in the process – is not regulated, and similarly, cryptocurrencies are not recognized as legal tender within Russia.

The Russian president notably issued a series of mandates last year to Russian officials, calling for regulations around cryptocurrencies, including the country's domestic mining sector.

"Somewhere in Japan they are using it, but it doesn't work in other countries," Putin remarked on Thursday.

Legislative slow-walk

His comments come as Russia's legislature slowly weighs several measures related to the technology – something that Putin himself has expressed support for in the past.

Three bills regarding blockchain and crypto have been introduced in the Russian parliament, the State Duma, to date. Two of them passed the first round of hearings on May 22 (three rounds are required to pass the bill), one of them named "On the digital financial assets" and the other "On the digital rights".

Both bills aim to introduce basic blockchain terminology to the Russian legal language, such as tokens and blockchain. They also restrict cashing out of tokens to authorized finance institutions and assign the Bank of Russia as a regulator that should control the crypto trade and ICOs in the country.

One more bill, "On the distributed national mining" – which introduces the term "cryptoruble" – was rejected by legislators.

Michael Komin, an expert for the institutions development with the Center for Strategic Development – a Moscow think tank chaired by Alexei Kudrin, a former head of the Department of Finance and one of the proponents of blockchain technology in Russian establishment–- believes that the bills are "half-empty" because an adequate legal language for blockchain hasn't been created so far.

"The only thing the parliament can do is to ban the technology as such, but it won't be approved by the Bank of Russia, Department of Finance and Treasury, which are already using elements of blockchain, and by the President Putin's advisor Andrei Belousov, " Komin said.

He expects the current blockchain bills to get "left without movement until better times and finally perish under the piles of other bills."

https://www.coindesk.com/putin-russia-explore-blockchain-avoid-finance-limitations/

The OMX token is now added to Jaxx wallet interface and ecosystem. Tip: close & reopen Jaxx to see OMX in the wallet selection screen.

Venezuelans’ interest in buying Bitcoin has increased significantly over the last three months, Criptonoticias news outlet reports Wednesday, June 6, citing data from the LocalBitcoins exchange.

Venezuela experienced its first cryptocurrency boom in early 2017, when a record volume of 805 bitcoins exchanged in a week was set.

Following that, the level of interest towards crypto in Venezuela dropped, coinciding with a decline in trading volume to as low as 150 bitcoins bought per week.

However, according to Criptonoticias, in early-to-mid 2018, Bitcoin investment surged once again in Venezuela, as evidenced by LocalBitcoins data. The volume of Venezuelan bolivar to Bitcoin exchange increased by 138% from March to April, and by 39% more from April to May.

The first week of June was in line with this tren, Criptonoticias points out. Over the last week of May some 4.9 trillion bolivars were spent on bitcoins, while the first week of June had seen the volume grow by 40.8% to 6.9 trillion.

Criptonoticias links the growing interest towards Bitcoin to hyperinflation in Venezuela. As bolivar keeps falling, in late May hyperinflation in the country surpassed 25,000%, according to Forbes.

As per Similarweb, Venezuelans comprise the largest share of Localbitcoins’ audience, followed by visitors from the US and the UK.

https://cointelegraph.com/news/bitcoin-buying-on-the-rise-again-in-venezuela

Vietnam’s Ministry of Finance has officially proposed that the country bans the import of cryptocurrency mining equipment. Bitcoin mining rigs are currently easily imported into Vietnam. This proposal follows the largest crypto fraud case in the country involving over $656 million and more than 32,000 victims.

Ministry of Finance’s Proposal

In the recently released report containing the opinions of the ministries involved in the management of bitcoin and other cryptocurrencies in Vietnam, the country’s Ministry of Finance proposes suspending the importation of mining equipment, according to local media. This report, referred to as Document 5964 / BTC-TCHQ, has been submitted to the country’s prime minister. Zing.vn publication elaborated:

According to the Ministry of Finance, mining machines are not on the list of goods banned from importation and are not subject to the list of specialized management or unsafe goods, so enterprises are easily allowed to complete the import procedures.

The ministry outlined in its report that the use of mining equipment for bitcoin, litecoin and other cryptocurrencies in the country is difficult for the authority to manage. “From there, it is easy for people to use [cryptocurrencies] as a currency or another method of payment,” the City Economic News Kinhte & Dothi quoted the ministry. “This is in violation of the amended government Decree 101 on non-cash payments,” Zing.vn conveyed.

The publication also noted that data from the General Department of Vietnam Customs shows that “from 2017 to half of 4/2018, the country imported about 15,600 mining machines,” adding that most of them were imported into Hanoi, Ho Chi Minh City, and Da Nang. Last year, more than 9,300 rigs were imported into Vietnam and over 6,300 rigs were imported in the first four months of this year.

Read more: https://news.bitcoin.com/vietnam-import-ban-bitcoin-mining-equipment/

Ico стартапы взяли моду литсится на непонятных обменниках, да еще с самого начала. Ведь собрали огромную капу, почему не выделить часть денег на маркетинг в виде престижного обмена?

Радует что на эту торговую пару у CoinBene  нет комиссии до 06/22/2018, типичная партнерская стратегия молодая биржа-ico проект, возможно даже листинг был бесплатный.

Utrust будут выступать на MoneyConf мероприятии, где встречаются ведущие мировые банки, технологические фирмы и прорывные стартапы. 11-13 Июня, Дублин.

Australia’s First ‘Digital Currency Town’ Accepts Bitcoin to Boost Tourism

Australian beach town Agnes Water is billing itself the country’s first ‘digital currency town’ in an effort to attract international digital-savvy travelers to boost its primary industry, tourism.

Over 30 local businesses including accommodation providers, tour operators, restaurants and even the local pub in Agnes Water are now accepting cryptocurrencies, despite being a town of a mere 2,000 permanent residents. ‘Welcome to Agnes Water-1770, Australia’s First Digital Currency Town’ reads a billboard in welcoming visitors driving in, with support for cryptocurrencies including bitcoin, bitcoin cash, NEM, litecoin and ethereum.

The beach town’s initiative to embrace cryptocurrency payments stems from local real estate agent Gordon Christian who began looking into accepting cryptocurrencies after a client, a local business owner, explored how to go about processing a bitcoin payment from a customer. Soon enough, Christian’s interest was piqued further when he learned that Brisbane International Airport, a five-hour drive from Agnes Water, had begun accepting cryptocurrencies at a number of retail storefronts.

Selling the idea to local businesses wasn’t hard, he revealed. “We started from the ground up, shared it with a couple of businesses and they were straight on board … I guess they were international travellers themselves and had heard of these types of payments,” he told ABC News. “Initially we had a good 10 businesses that just said, ‘Fine — let’s go for it’.”

Local tourism operator Arty Cipak added:


Presently, 31 local businesses including resorts, backpacking establishments, tour companies and eateries are now accepting cryptocurrency payments through a point-of-sale app developed by TravelbyBit, a Queensland-based crypto payments startup.

“We’ve got merchants all over Australia but they’re very sporadic,” TravelbyBit CEO Caleb Yeoh said. “[Agnes Water and] the Town of 1770 has the highest concentration.”

While it’s early days, Australia’s first ‘digital currency town’ could soon lure a nice group of international tourists to Agnes Water rather than mainstream destinations, according to the crypto executive.

“The town has made a very strategic move in trying to appeal to a niche market to take perhaps some of those tourists … to come out to their little part of the woods,” he said.

Yeoh added:


https://www.ccn.com/australias-first-digital-currency-town-accepts-bitcoin-to-boost-tourism/

An established Japanese corporation has begun offering loans secured by cryptocurrency. The company says this is the first service in Japan where loans in Japanese yen can be obtained with cryptocurrency as collateral.

New Loan Program

Abic Corporation announced Friday the launch of its bitcoin loan service. “From June 1, we offer loans with virtual currency bitcoin (BTC) as collateral,” the company’s announcement reads.

Founded in 1973 and headquartered in Tokyo, Abic Corporation offers a broad range of secured loan products including commercial and real estate loans.

“In Europe and the United States, services that provide ICOs [Initial Coin Offerings] and loans are increasing, with virtual currency as collateral such as bitcoins,” the company wrote, elaborating:


One major benefit of obtaining this type of loan is that, in Japan, “In the case of individuals, if you sell your own virtual currency, the [capital] gains on that sale will be miscellaneous income and will be subject to progressive taxation,” the company explained. This tax can be as high as 55%.

Emphasizing that its crypto secured loans give customers access to funds without having to sell their crypto, the company urges customers to use its crypto secured loans “for a wide range of purposes such as new virtual currency purchases, [and] tax payments.”

Recently, news.Bitcoin.com reported on Japan’s National Tax Agency revealing that 331 taxpayers with 100 million yen (~US$914,000) or more in miscellaneous income, excluding pension income, declared cryptocurrencies in the year 2017.

Read more: https://news.bitcoin.com/japanese-corporation-loans-secured-cryptocurrency/

Back in April, news.Bitcoin.com reported on a charity called Eat BCH that’s been feeding the hungry in Venezuela with food purchased with bitcoin cash (BCH) donations. Since then the group has also started feeding people in South Sudan where citizens in the East-African region are suffering from economic turmoil and a lack of daily nourishment. With the help of bitcoin cash donations from the community, Eat BCH has truly become a peer-to-peer electronic cash-to-food system that’s starting to spread throughout other regions in the world.

The Charity Eat BCH Focuses On Feeding South Sudanese Families with Food Paid for With Bitcoin Cash Donations  

The Twitter handle and nonprofit organization Eat BCH has been helping individuals and families in Venezuela by providing them with food to eat that’s purchased with the cryptocurrency bitcoin cash. When a person visits the Twitter page they can scroll through hundreds of pictures showing Eat BCH feeding Venezuelans in need. Each picture says @eatBCH with the date the crew visited throughout various locations like a children’s center or a senior citizens home. So far the Eat BCH team has amassed a whopping 16.84 BCH or $18,427 USD at the time of publication and that money goes a long way in Venezuela.

Now Eat BCH is helping people in South Sudan, a region located in East-Central Africa that is facing significant economic hardships right now. The people in South Sudan have a lack of necessary supplies like good water, food, and there’s a shortage of money. The region is currently dealing with a civil war and over the past few weeks, mainstream media has been focusing their attention on the “horrific” and “heartbreaking” stories taking place in South Sudan. The crew at Eat BCH has decided to help individuals and families from South Sudan and they have been focusing their efforts on feeding people living in the African territory this week.

On the first day on May 31, the Eat BCH team stated it was rainy in Sudan but over 50 people came to eat food that day.

“Our first day – and a rainy day – and the line is out the door! Over 50 people came to eat today,” explained the charity.


Read more: https://news.bitcoin.com/bch-powered-charity-eat-bch-starts-feeding-people-in-south-sudan/

Похоже команда считает свою позицию в отношении размеров выплат правильной и не считает возможным изменять их размер, во всяком случая я не вижу дискуссии с их стороны в англоязычной ветке.

Maybe you are pushing wrong button or enter incorrect address. My transaction passed very quickly, without any fees or long pending. Try some other day, but firstly start from little amount of MRK, to make sure all works fine.

The same situation happened with my brother, he lost significant amount of ETH, because he was in a hurry and mixed up "price" with "amount" areas. Nothing cannot be done with his lost, all money were immediately transferred to new addresses. I`m very sorry for your loss. ALWAYS double check number of decimals after point, where you at: sell or buy section, correct price and amount.

Jeffrey A. Tucker has penned an article to accompany a little-reported research paper that was published last October. The economics writer met with one of the paper’s authors recently to discuss the threat posed to the Bitcoin network by quantum computing.

Quantum Computing Poses Little Real Threat to Bitcoin

After meeting with Gavin K. Brennen, a researcher at the Centre for Quantum Technologies at the National University of Singapore, Tucker has concluded that quantum computing was not nearly the fatalistic threat that many tout it to be to cryptocurrencies.

Quantum computers have often been cited as an irrefutable kill switch for Bitcoin. The idea is that quantum machines, capable of processing data hundreds of times faster than the most advanced computers today, could either brute force signatures in little time or solve proof-of-work algorithms fast enough to pose a threat to the security of the Bitcoin network. This would render Bitcoin and other similar cryptocurrencies entirely useless.

Although Brennan et al. don’t entirely refute this notion in their lengthy paper titled ‘Quantum attacks on Bitcoin, and how to protect against them,’ they do conclude that the threat is not nearly as fatalistic as many perceive it. In fact, given that quantum computing is still being developed, the authors believe that there is plenty of time to protect networks against it.

In the companion article published by the American Institute for Economic Research (AIER) on Monday, Tucker praises the cryptocurrency community’s adeptness at problem solving:

“If there is a known problem, there are people working on solutions, with tremendous professional awards accruing to the winner.”

He states that the adaptivity of a decentralised governance model excels at developing solutions to problems, particularly when the rewards for doing so are as great as they are with Bitcoin.

In the AIER article, Tucker summarises the position of the paper’s authors. When addressing the issue of quantum machines dominating proof-of-work, he references the original material:

“Future improvements to quantum technology allowing gate speeds up to 100GHz could allow quantum computers to solve the PoW about 100 times faster than current technology. However, such a development is unlikely in the next decade, at which point classical hardware may be much faster, and quantum technology might be so widespread that no single quantum enabled agent could dominate the PoW problem.”

He then addresses the threat of quantum computer brute forcing signatures. He admits that this threat is ‘more real,’ but is ‘not without solutions.’ These solutions are ‘within reach of programmers today’ and there is still the issue of the ten year head start developers have for creating more robust methods to protect against the perceived threat:

“Moreover, there are ten years of lead time to get there and adapt them to the protocol.”

In concluding his article, Brennan states that he believes the ‘quantum threat to Bitcoin is mostly a red-herring.’ He states that the strong incentive to constantly increase the network’s security, along with the collective minds working on it makes any issues entirely fixable.

The closing paragraph of the article is so wonderfully put, you’ll excuse me for including it verbatim:

“As I listened to the paper, and his proposed solutions, it struck me how precise and intense is the brain trust behind this technology as compared with, for example, the Federal Reserve, the banking system, and existing fiat currency. The problems in the fiat status quo are enormous enough to fill whole libraries (starting with certain obvious problems: no one knows how much money the system produces, or how much crisis risk is present at any time, not even the people charged with managing the system). The problems revealed themselves in 2008. The system has not been repaired in a way that can prevent a repeat of that experience.”

https://www.newsbtc.com/2018/05/31/research-paper-refutes-threat-to-bitcoin-posed-by-quantum-computing/

Сегодня вышло обновление новостей PayPie. В основном там говориться о процессе легализации соответствия модели PayPie с канадским законодательством, этот процесс не простой и длительный, необходимо полное согласие с властями для становления крепкого долгосрочного бизнеса на что и нацелены PayPie.

Сейчас команда работает над  системой прогнозирования потоков наличности, должна быть внедрена в ближайшие недели. Это позволит бизнесу четко видеть в каком периоде времени они будут пребывать в фазе недостатка финансов, чтобы планировать заранее возможный инвойс заем.