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Bitcoin / Bitcoin Discussion / BTC to fall after massive $30 million HACK heist in south korea
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on: June 20, 2018, 10:25:45 AM
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Bitcoin market plunges deep down further as major Korean exchanges loses $31 millions. South Korean exchange Bithumb said in a notice on its website on Wednesday that it had stopped all trading after ascertaining “some cryptocurrencies worth about 35 billion won were seized between late yesterday and early morning today.” The exchange, thas now moved “all clients’ assets in safe cold wallets,” which operate on platforms not directly connected to the internet, adding that customers affected would be fully compensated. Mun Chong-hyun, chief analyst at ESTsecurity, warned that cryptocurrencies represent an ideal target for hackers. He said: “No security measures or regulations can 100 percent guarantee safety of virtual coins. It is held anonymously and in lightly-secured systems, which makes them an irresistible target." [/quote] Read more, https://www.express.co.uk/finance/city/976816/Bitcoin-price-ripple-cryptocurrency-ethereum-BTC-to-USD-XRP-news |
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Bitcoin / Press / [2018-06-20] BTC to fall after massive $30 million HACK heist in South Korea
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on: June 20, 2018, 10:01:08 AM
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BTCITCOIN was dealt another blow last night after South Korean cryptocurrency exchange Bithumb said $31.5 million was stolen by hackers causing the principle coin to fall from $6,742 to $6,562. South Korean exchange Bithumb said in a notice on its website on Wednesday that it had stopped all trading after ascertaining “some cryptocurrencies worth about 35 billion won were seized between late yesterday and early morning today.” The exchange, thas now moved “all clients’ assets in safe cold wallets,” which operate on platforms not directly connected to the internet, adding that customers affected would be fully compensated. Mun Chong-hyun, chief analyst at ESTsecurity, warned that cryptocurrencies represent an ideal target for hackers. He said: “No security measures or regulations can 100 percent guarantee safety of virtual coins. It is held anonymously and in lightly-secured systems, which makes them an irresistible target." Read more, https://www.express.co.uk/finance/city/976816/Bitcoin-price-ripple-cryptocurrency-ethereum-BTC-to-USD-XRP-news
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Bitcoin / Legal / Binance’s Fiat Integration May Lead Cryptocurrency Exchanges to Move to Malta
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on: June 14, 2018, 09:33:38 AM
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Earlier this month, Binance, one of the most widely utilized multi-billion dollar cryptocurrency trading platforms alongside the likes of Coinbase and Bitfinex, has established a bank account in Malta. Malta’s Pro-Blockchain LegislationAs a part of the European Union (EU), Malta is a country with a strong financial industry and economy which contribute to the global financial structure. Contrary to the claims of some analysts early on, Malta isn’t a small country that has welcomed multi-billion cryptocurrency businesses to solely improve its economy; it is a well-established economy that has legitimate banking partners and that is a part of the international banking system. The government of Malta has been pro-blockchain and cryptocurrency since 2017, and its officials worked closely with major cryptocurrency companies like Binance to facilitate the growth of the local cryptocurrency and blockchain sector. In March, Binance officially and permanently relocated its headquarters to Malta, with the intent of establishing a partnership with local banks and financial institutions. “We are very confident we can announce a banking partnership there soon. Malta is very progressive when it comes to crypto and fintech,” Binance CEO Changpeng Zhao, better known to the cryptocurrency community as CZ, said. In a statement, the Binance team further emphasized that the government of Malta has made a firm decision to allow the cryptocurrency industry to become a large part of the country’s economy by passing a bill that would allow local authorities to regulate blockchain-driven operations. “An E.U. member nation, Malta’s government is pro-blockchain, and is actively building a supportive regulatory and technical infrastructure. Plans for a Malta Digital Innovation Authority were revealed last month, and the country is in the process of formalizing a ‘Virtual Currency Act’ that will pave the way for a first-of-its-kind auditing framework made specifically to regulate blockchain-driven investment operations such as token sales,” the Binance team explained. Bank Account, At LastThis week, Binance successfully obtained a bank account and secured a partnership with a local bank in Malta, opening the possibility of the integration of fiat currency pairs, such as the US dollar, Euro, and the British pound. Many cryptocurrency exchanges have struggled to obtain banking partners over the years, and even Bitfinex, one of the biggest cryptocurrency trading platforms, had its conflict with Taiwanese banks in the past. The establishment of a bank account for Binance to handle its fiat-to-crypto operations could eventually lead to an influx of cryptocurrency exchanges entering the Maltese blockchain sector, primarily to benefit from the government’s pro-blockchain legislation and to receive support from local banks. In South Korea, a region wherein the majority of major banks fully support cryptocurrency businesses and operations, major platforms like Bithumb and Korbit suffered from unstable banking services in late 2017, which analysts argue led to a decline in trading volume. Financial and banking stability provided by Maltese banks could lure in cryptocurrency businesses in the short to long-term, especially cryptocurrency exchanges that are looking to integrate fiat trading pairs. original source: https://www.ccn.com/binances-fiat-integration-may-lead-cryptocurrency-exchanges-to-move-to-malta/ |
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Alternate cryptocurrencies / Speculation (Altcoins) / Ripple: Banks Unlikely to Apply Blockchain for Cross-Border Payments in Near Fut
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on: June 14, 2018, 09:16:46 AM
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Ripple chief cryptographer David Schwartz claims that banks are unlikely to deploy blockchain to process international payments, citing low scalability and privacy problems, Reuters reports June 13. In an interview with Reuters, Schwartz argued that despite the fact that banks acknowledge blockchain technology’s potential in reducing transaction times and costs, the technology is still not scalable and not private enough to be implemented by banks on a global scale. Ripple claims that xCurrent’s immutable “interledger” protocol offers instant settlement, making it superior to existing payment networks. However, xCurrent “is not a distributed ledger,” according to Schwartz. In xCurrent’s case, the network peers do not have access to a shared ledger, which is the basis of major blockchain networks like Ethereum (ETH) or Hyperledger. Schwartz said: “What we hear from many of our customers is that it’s imperative to keep their transactions private, process thousands every second, and accommodate every type of currency and asset imaginable.”Marcus Treacher, senior VP of Ripple customer success, said the firm had launched a project to offer banks “classic” blockchain-powered payments. However, the banks rejected the initiative, citing that one cannot just put “the whole world on a blockchain.” According to Reuters, a number of banks have tested and incorporated Ripple’s xCurrent technology for cross-border payments that can “eventually plug them” into distributed ledgers. In May, financial institutions that took part in a pilot of Ripple’s xRapid platform reported transaction savings between 40-79 percent, while also noting a significant improvement in transaction time, from an average of 2-3 days to “just over two minutes.” In April, Spanish-based international bank Santander confirmed the launch of its Ripple-powered blockchain payment network One Pay FX, reportedly becoming the first bank to do so. original source: https://cointelegraph.com/news/ripple-banks-unlikely-to-apply-blockchain-for-cross-border-payments-in-near-future
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Local / Others (Pilipinas) / ALL ABOUT COPPER MEMBER
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on: June 06, 2018, 01:55:00 AM
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Good day mga kabayan!
pasensya na sa kamang mangan ko, madami kasi ako nakikita na my copper member, matanong ko lang po kung ito po ba ay rank ? at paano po maging copper member? ano ano ang mga benefits ng isang copper member? Thank you
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Local / Pamilihan / ABOUT BITCELL
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on: April 10, 2018, 02:04:21 AM
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Nitong nakaraang araw iniinvite ako ng mga kakilala ko sa “BITCELL” (Auto trading na nagbibigay ng 3% daily rate) , gusto ko lang po malaman ang inyong “REVIEW” o masasabi about sa bitcell, kung ito ba ay safe pasukin o hindi, ito ba ay scam o legal? - maraming salamat po Website : https://www.thebitcell.com |
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Local / Others (Pilipinas) / TIPS PARA MAKA GAIN NG MERIT
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on: January 28, 2018, 02:58:53 AM
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Ginawa ko tong thread na to para sa mga newbie upang meron silang guidelines o dapat iconsidered sa mga ipopost nila para maka gain ng merit. Iilan lang to sa mga tips o dapat mo iconsidered para makagawa ng good post. INFORMATIVE: - napaka importante sa isang poster na ang kanyang ipopost ay informative. Ang informative ay kung saan nagbibigay ka ng “useful information” sa mga mambabasa, kung saan my malalaman o may matututunan ang nagbabasa nito, (pwede kang gumamit ng links kung saan gusto mong ishare sa lahat ang iyong natutunan o nabalitaan) PARAGRAPH STRUCTURE - ang paragraph structure ay naglalaman ng tatlong bahagi, (topic sentence, supporting sentence and conclusion). (“For more info ,eto ung links : http://lrs.ed.uiuc.edu/students/fwalters/para.html ). Sa pamamagitan ng paragraph structure , maiiwasan mo ma off topic at masusundan mo ang pinaka main topic sa isang thread. Sa gayon maiiwasan mabura ang mga replies mo sa isang thread. KEEP READING- napaka importante sa ating lahat na lage nagbabasa upang araw araw kang my nalalaman, sa gayon, alam mo at kung ano ang iyong ipapahayag sa bawat thread na iyong rereplyan o sa pagpopost, dahil “everyday is a learning”. Sa pagbabasa jan ka makakakuha ng idea o mga information kung saan magagamit mo sa pagpopost. CONCLUSION: - Main idea is need mo muna matutunan ang basic.. magbasa,matuto at iapply, makakabuti sa ating lahat na matutunan natin lahat bago tayo kumita ng malaki sa mga ginagawa natin dito sa forum, “Learn first before you earn”. Ugaliin lang po natin magbasa upang tayo ay matuto sa gayon ay hindi tayo mahirapan sa pag compose ng sasabihin o icocoment sa mga thread.. Hopefully makatulong to sa lahat.. |
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Local / Pilipinas / CRYPTO NEWS
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on: January 11, 2018, 05:43:29 AM
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#UpdatesThe reason why we are experiencing 2 back to back red days leading up to the biggest 9 weeks of conferences in blockchain history. Within 2 weeks we have the North American BTC Conference, in Miami, and that same week the London Blockchain Summit. The market should be as bullish as ever (and will be in 2-3 days if not tomorrow). However, what is going on right now? There are 2 major events impacting blockchain negatively in Asia right now. There is a “lockout” of sorts in South Korea as they get their regulation in order and taxation underway. This caused a minor panic in the Korean market. This was the main factor contributing to yesterday’s red day, the Korean’s trade more than anyone and now they are in a holding pattern until Jan 20th. However, once their trading opens back up fully between now and then there should be an exponential price increase in all alts. The second issue impacting the markets is China hinting at regulating BTC mining. This doesn’t surprise me as most countries with a very low cost of electricity ban BTC mining. However, these two pieces of news, which will be resolved shortly, dramatically impacted the value of BTC and alts over the last two days. Reference:https://www.reuters.com/article/us-southkorea-bitcoin/south-koreas-major-cryptocurreny-exchanges-raided-by-police-tax-authorities-idUSKBN1F002Bhttps://search.app.goo.gl/Yeug
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