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Global tech behemoth Intel, the producer of popular PC processors, wins a patent to work in the sphere of crypto mining from the US Patent OfficeEarlier this week, the world-famous Intel giant won a patent for producing a processor that, reportedly, can mine crypto coins at high efficiency, allowing one to minimize energy waste. The processor will be using the titled SHA-256 algorithm, currently utilized by the Bitcoin network. Not Intel’s first attempt in miningIntel has already filed patents to work in the crypto mining area. It first began to make mining chips run by 21 Inc. Later, the factory that produces them rebranded as Earn.com and was bought by Coinbase exchange. Patent detailsThe document says that BTC miners will profit from working via these chips by getting a reward for blocks and receiving transaction fees. However, mining gear for the BTC chain usually works with ASICs, which consume a great amount of electricity. Intel claims it has found a solution to hardwire the parameters of these devices, which will diminish the amount of electricity necessary for mining by about 15 percent. The company reps claim that this figure can be increased in the future, making BTC mining even more energy-efficient. Source: https://u.today/intel-gets-permission-for-energy-saving-mining-chips-on-its-patent
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The U.S. Commodity Futures Trading Commission sent a Bitcoin trader to prison and fined him more than $1 mln for a fraudulent Bitcoin and Litecoin trading schemeArizona resident Joseph Kim admitted to cheating investors out of hundreds of thousands of dollars after misappropriating more than $600 thousand of his previous employer’s money, according to a press release. In the period from September to November 2017, Kim got Bitcoins and Litecoin from his employer, a trading company in Chicago, from their personal accounts, resulting in company losses amounting to $601 thousand. Read more
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Swiss premium watchmaker Hublot released a limited watch collection named Big Bang Meca-10 P2P. Model is dedicated to the 10th anniversary of Bitcoin and can be bought only for the cryptocurrency. Hublot will release 210 copies of the anniversary model, their official price will be $25,000, the manufacturer notes. Read more |
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EOS Achieves 2822 Transactions Per Sec (TPS), Surpassing BTC, ETH, XRPJust recently the EOS Blockchain has broken a record of 2,000 TPS, reaching over 2,800 and now it is about to achieve a new all-time high. 3,000 operations per second level is about to be taken soon, some believe. If we compare the current scalability of EOS with the speed of BTC and ETH, then these two currencies are way behind. BTC is capable of just seven transactions per second and ETH– 15. XRP can do way more, 1,500 TPS, but it still cannot compare with EOS and its 2,822 TPS. Read more
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Chinese IT-company has spotted serious breaches in the EOS network The engineers of 360 wrote on the popular Chinese social media Weibo that through some of those vulnerabilities it is possible to remotely execute an arbitrary code on any EOS node. In other words, through remote attacks, it is possible to gain control over the whole EOS system. 360 already informed EOS management. Taking into account that there are just a couple of days to go before the mainnet launch, this could seriously change the platform’s plans. However, according to the company officials, the EOS mainnet will not be switched on until these problems are eliminated. Dangerous Blockchain breachesThe presence of security breaches in virtual currencies can have a worse impact than when it comes to ordinary software. On a fully decentralized platform like EOS, a vulnerability attacked in one node can influence the whole network through the interconnected nodes so that thousands of computers will be attacked. Hackers responsible for those attacks can send a smart contract infected with a virus across the whole platform. Various other negative consequences can follow unless these issues are fixed as quickly as possible. CryptoComes has contacted the EOS officials and asked them to clarify the situation and how they are proceeding with solving the unexpected problem. https://cryptocomes.com/eos-platform-vulnerabilities-detected-by-360-chinese-internet-security-giant
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A mosque in London has become the first in the world to accept cryptocurrencies as donations following the declaration that it is permissible under Sharia law Cryptocurrencies are so new and misunderstood that they needed to be scrutinized by Islam scholars to determine if they could be accepted under Sharia law. It was declared that they could, and so, a mosque in London is open to accepting Bitcoin as donations. The mosque is on a charge to raise upwards of £10,000 in cryptocurrency donations over Ramadan, through both negative to cryptocurrencies. A wider audienceHowever, this move by The Shacklewell Lane Mosque in Hackney is intended to try and reach a wider audience within the Muslim community. Muslims are asked to give away 2.5 percent of their wealth during the 30-day festival as part of zakat and this mosque is hoping they can reach their target by also taking Bitcoin. “We are trying to appeal to a wider audience with the new money,” Erkin Guney, the chairman of the board of trustees, told The Hackney Gazette. “It’s big in the Islamic world, and we have set up a platform for wealthier Muslims outside our community to support and donate to our mosque.” Fitting into IslamMoney is closely regulated and managed under Sharia law, and it had to be officially declared that cryptocurrencies can fall under its gambit. Last month, Muhammad Abu-Bakar of Blossom Finance in Indonesia explored the functionality of Bitcoin and other cryptocurrencies to determine whether they fit with Islam’s strict definitions of money. “Several recent fatwa issued by prominent Muslim scholars offered incomplete or contradictory opinions on the topic,” said Matthew Martin, CEO of Blossom Finance. “With all the confusion out there, we wanted to offer clear guidance supported by solid research that benefits both laypeople and practitioners of Islamic finance.” It was thus concluded that Bitcoin is permissible as it is already accepted by merchants around the globe. https://cryptocomes.com/london-mosque-accepts-bitcoin-in-world-first-for-islam
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A new bill in Russia on digital currencies may well not allow for legal crypto payments as first believed A draft bill pertaining to protect the rights of cryptocurrency owners while also regulating them in line with Russian laws was introduced to parliament in March with the biggest expectation being the legalization of cryptocurrency payments. However, local media reports from Russia today are suggesting that the expectation of making digital currencies legal may not come to pass, this according to Izvestia, the news portal of the Ministry of Information Technologies. News from the new billThe bill aims to establish a legal basis for digital rights and digital transactions, Head of the State Construction Committee Pavel Krasheninnikov told Izvestia. It is proof that the governmental heads do consider cryptocurrencies a promising technology that should be entered into the country’s legal framework. While the bill is aimed at being balanced, adding more rights and protection to cryptocurrency users, for the regulators, it is hoped these laws will eliminate risks of digital objects being used to place assets in an uncontrolled environment, by which proceeds of crime can become legalized. While crypto payments will not be legalized under these amendments, it follows from the bill that in the future, such currencies will be used as payment “in controlled quantities.” On Putin’s ordersThe move to control cryptocurrencies in Russia has emanated from its highest source, President Vladimir Putin. The Russian Leader had set a deadline on July 1 for relevant cryptocurrency legislation to be adopted in the country. This was the opening stages of the bill which is now being amended by Russia’s State Duma Committee on State Construction. The bill does not address all of the president’s directives, but it presents conditions for further regulation of the digital currency industry. Source: https://cryptocomes.com/russias-digital-law-bill-not-aimed-at-legalizing-crypto-payments
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Thailand is getting tough on cryptocurrencies with the threat of jail time and hefty fines for those who go against the laws and legislation regulating digital currencies Thailand has been strict on its stance regarding cryptocurrency, taking a negative view towards it similar to India. The Asia nation’s central bank has ordered the country’s banks to avoid cryptocurrency transactions due to fear of illegal activity. As of today, Thailand has put a new law in place to control and regulate cryptocurrency transactions and ICOs. The law decrees that cryptocurrencies are digital assets and thus under the control of the country’s Security Exchange Commission. Next harsh stepThis latest move was proposed by Finance Ministry in February following the ban on financial institutions from dealing with cryptocurrencies. The move is again aimed at heavily regulating cryptocurrencies in order to stop any form of money laundering, tax avoidance and crime. The law, which is a royal decree, stipulates that unregistered token brokers or exchanges, or those who perform token transactions through unregistered exchanges will face a jail term of up to two years and fines of at least two times the token values, up to a maximum of 500,000 baht ($20,930). It gets more harsh, especially for those who are intending to use cryptocurrencies for tax avoidance. Fraudulent filings could invite a five-year jail sentence. Those who carry out unauthorized business in digital assets face jail terms of between two and five years. They could also face fines of up to 10,000 baht ($314) for each day that the business was conducted. Those who allow others to use their accounts to carry out transactions can be jailed up to one year and fined up to 100,000 baht ($3,000). Better confidence?On top of the threats of jail time, a separate decree has set a 15 percent capital gains tax on each digital transaction. This all sounds very harsh on digital currencies, however, in this highly regulated space, the feeling is rather positive. Because the government is starting to really crack down on fraudsters and dodgy dealings, it will mean in the long run, there will likely be much better quality digital currency offerings from Thailand. https://cryptocomes.com/jail-awaits-those-who-go-against-cryptocurrency-regulations-in-thailand
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This thread is about past ICO. We are reviewing blockchain projects that have already finished their coin offerings. What were the great mission and purposes at the beginning and how the things are going on now? Here you can find all our investigation reports  |
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There has been a warning put out by the Australia Tax Office that scammers are out there impersonating their officers, demanding Bitcoin and other cryptocurrencies as payment for tax debts. It is a scam that piggybacks off a real issue across the globe; the actual tax debts that have accrued thanks to cryptocurrency earnings and gains. Australia’s tax office has cracked down more severely on cryptocurrency gains in their latest anti-money laundering legislation. The full article: https://cryptocomes.com/scammers-impersonating-tax-officers-australia-are-demanding-bitcoin |
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Estonia (read more here) The Baltic nation wants to become a truly digital nation, and they are well on their way to being one with following features: 1. E-Health (Estonia became the first country in the world to incorporate the Blockchain into their healthcare system. Every Estonian has their health record digitized and stored on a Blockchain) 2. KSI (All the governmental records will be stored in the Blockchain which will make them completely tamper-proof) 3. Along with this, Estonia is also planning to develop its government-backed cryptocurrency called “Estcoin” with the help of Ethereum co-founder Vitalik Buterin. Singapore (read more here) With a long history of being a startup favorite, Singapore extends its welcoming policies to Blockchain companies. 1. Startup hub (Singapore has always been a startup favorite for a variety of reasons such as: Tax-friendly rules, Light-touch regulation, State funding) Singapore has seriously stepped up to the plate when it comes to Blockchain adoption. The Monetary Authority of Singapore (MAS), Singapore’s central bank, set aside $219 mln purely for the development of fintech projects and applications in 2017 alone. 2. National currency token (The Monetary Authority of Singapore (MAS) rolled out Project Ubin which saw the Singapore dollar get tokenized and made available on the Ethereum Blockchain) 3. Smart regulation (In August 2017 MAS declared that they will bring in some form of ICO regulation. While they will not regulate all ICOs, they will regulate an ICO if it behaves like a stock or a security and falls under Singapore’s Securities and Futures Act. Along with ICOs, MAS will also regulate exchanges and any other intermediary services) Japan (read more here) Japan’s stagnating economy contributed to fierce competition on Japanese cryptocurrency exchanges, creating a strong crypto market that is encouraged by supportive legislation. In addition, widespread Bitcoin acceptance and development of alternative currencies like Cardano make Japan one of the world leaders in Blockchain technology adoption. 1. Friendly jurisdiction (April 2017, the Japanese government enacted the Virtual Currency Act which provided the following: A. Bitcoin will be considered a legal payment method. B. Virtual currency exchanges will be regulated. C. A tax reform was also issued separately which removed a consumption tax. This was stopping foreign investors from buying Bitcoins in Japan’s market. 2. Competitive exchanges (competition between Japanese exchanges is so fierce that most of them are not charging any fees at all. Some have even implemented negative fees just to get a higher trading volume) What countries do you guys think are also worth to mention and why?
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Mail.Ru Group, a major Russian Internet company and original mail service provider, has expanded its reach to accept cryptocurrency for advertising payments. The hope is that this will aid in the ease of payment for those already using cryptocurrencies as it allows payments to be made in BTC and BCH. Users can choose to pay in cryptocurrency for advertising on Mail.Ru Group's properties, including VK, OK and Mail.Ru. Additionally, it will allow for cryptocurrency payments processing via its international brand My.com, Mail.Ru Group is partnering with BitPay, a well-regarded Bitcoin payment processor. BitPay will convert cryptocurrencies into cash and will take the exposure. "We want to provide the best service for our business partners. MyTarget will be the first step in creating a new ecosystem that will further develop and embrace other Mail.Ru Group's products, including games," commented Dmitry Sergeev, CEO of Mail.Ru Group. Source: https://cryptocomes.com/russian-internet-company-mailru-opens-crypto-payments-advertising
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Merriam-Webster, one of the US’s leading dictionaries, added “cryptocurrency,” “Blockchain” and “initial coin offering” to its entries today, in a nod to their frequent useThe sometimes perplexing domain of digital financial exchanges opens a window into a subject that requires an explanation for many of us, the online dictionary said in its announcement Monday. The new entries are “used frequently enough by some in order to be placed in a reference for all,” the dictionary said. The company saw the crypto entries as “on the opposite end of the economic spectrum” as way of organizing and distributing money in developing economies, like microfinance and microcredit, both of which describe small loans made to impoverished individuals and communities or similar financial services. The three words were among 850 new entries to the dictionary, which also included “ dumpster fire”, “ antifa” and “ mansplain”. Source: https://cryptocomes.com/merriam-webster-dictionary-adds-cryptocurrency-blockchain-and-ico
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A new scam has been uncovered that reportedly has stuck as many as 27,000 people across South Africa, Australia and America. BTC Global is now being investigated by South African serious commercial crimes unit, the Hawks. The site for BTC Global now displays a page that states that trading has been suspended stating that their ‘master trader’ Steven Twain cannot be located. It has emerged that as much as $50 mln was netted by the scam which saw thousands investing cryptocurrency into an online wallet address.[/pre][/left] The full article: https://cryptocomes.com/south-african-authorities-investigating-massive-bitcoin-scam-btc-global |
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Legendary hedge fund investor Bill Miller, 68-years-old, has seen a lot in the financial markets through the times and now with a new wave of technology sweeping a number of sectors, Miller is backing Bitcoin. Miller’s firm has reportedly put half its assets in the digital currency from its tentative start a few years ago. Miller is keenly interested in how the technology can disrupt and likens it to a number of big changes in the modern era. The full article: https://cryptocomes.com/hedge-fund-doyan-bill-miller-calls-bitcoin-disruptive-innovator |
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