Bitcoin Forum
June 19, 2021, 01:34:47 AM *
News: Latest Bitcoin Core release: 0.21.1 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: [1] 2 »
1  Bitcoin / Bitcoin Discussion / China: Man Sentenced to Prison for Stealing Railway Electricity to Mine Bitcoin on: October 09, 2018, 12:11:08 PM
Quote
Although the Chinese regulatory bodies have maintained their distance from cryptocurrencies, it has not deterred the people in the country from partaking in the promising crypto mining industry – as a Chinese man was recently sentenced to 3.5 years in prison for stealing power from a train station to mine Bitcoin (BTC). The incident was reported by the local media outlet The Paper, on October 8, 2018.

https://btcmanager.com/chinese-man-prison-for-stealing-electricity-mine-bitcoin/

Oh well, he took the risk and now he is in jail.  I wonder how much he earn mining bitcoin  Grin because it means that he knows what his doing is wrong but I guess he see the $$$ that's why its worth a try. hehehe.
2  Alternate cryptocurrencies / Altcoin Discussion / xRapid goes live today, Ripple announces on: October 01, 2018, 09:57:35 PM
xRapid goes live today, Ripple announces

Quote
Today Ripple announced on its blog that xRapid, a system which utilizes Ripple liquidity to send cross border payments, has officially become commercially available and already being used by customers. XRP saw an unsurprising jump in price as a result, and as of this writing very close to pushing back into second place.

https://www.chepicap.com/en/news/4075/ripple-announces-that-xrapid-is-now-commercially-available.html

Now let's watch and see how XRP will go to the moon or at least make a significant gains because of this new hype. Everyone should get onboard now. hehehe. It has surpassed ETH on the last couple of days but I don't think it will be enough though in the coming weeks or months.
3  Bitcoin / Press / [2018-04-18]Unpacking the 5 Biggest Cryptocurrency Scams on: April 19, 2018, 09:49:48 AM
Unpacking the 5 Biggest Cryptocurrency Scams

Cryptocurrencies have revolutionized the way the world looks at transactions - but they’ve also facilitated some monumental scams over the past nine years.

The success of Bitcoin and a number of altcoins jumpstarted an industry that is incorporating Blockchain technology in a number of innovative ways.

While the smartest minds have created some game-changing companies backed by the power of Blockchain and cryptocurrencies, nefarious minds have also jumped on the bandwagon, fleecing unwitting investors in elaborate scams.

ICOs fever spawns massive scams


Since Bitcoin’s inception in 2009, people have become increasingly enamoured with the idea of Blockchain technology. Over time, developers and business minds began creating their own solutions with this decentralized ledger technology.

This led to the development of Ethereum and other virtual currencies, with the former in part responsible for a boom in initial coin offerings (ICO) in 2017.

As an ICO is essentially a round of public finding and is typically launched by a tech startup which sells inhouse cryptocurrency tokens to prospective investors, these investors buy tokens in the hopes that company will launch its product and the tokens will grow in value.

An ICO is not unlike an initial public offering, which is when a traditional company makes its share available for purchase to the general public. In fact, this is where the ICO moniker stems from.

Given that there are no promises that an ICO will make good on its future plans, investors take a leap of faith when they part ways with their money. This of course has led to a plethora of scams billed as ICOs, which have seen thousands of investors left out of pocket.

Here are five of the biggest ICO scams in history.

Pincoin and iFan


The most recent large-scale ICO scam grabbed headlines in April. Two ICOs, run by the same company operating out of Vietnam, are believed to have swindled around 32,000 investors of a combined $660 mln.

The company in question, Modern Tech, packed up its offices in Ho Chi Minh city last month, making off with investors money. The scam is believed to be the biggest in ICO history.

A number of investors protested outside the vacant offices in the city on April 8, after the company refused to process cash withdrawals. The city’s administration has ordered police to investigate the fraud.

Both ICOs have been classified as multi-level marketing scams. iFan was advertised a social media platform for celebrities to promote their content to fans. Meanwhile Pincoin was promising 40 percent monthly returns on investments made. The project claimed to be building an online platform encompassing an ad network, auction and investment portal and peer-to-peer marketplace built on Blockchain technology.

OneCoin

OneCoin has been the subject of a number of investigations over the past 18 months. Officially labelled as a ‘clear ponzi scheme’ in India in July 2017, it was fined €2.5 mln by Italian authorities two months later.

Cointelegraph has previously warned readers to stay clear of the operation, as OneCoin does not even operate a legitimate decentralized cryptocurrency. Furthermore it does not have a public ledger and its Bulgarian offices were raided in January with servers seized by authorities as international investigations and court cases continue against the company.

Scandals in countries around the world summed up the fact that OneCoin is indeed a massive scam.

In 2016, over $30 mln dollars were seized by Chinese authorities investigating the OneCoin operation in the country.

The company claimed to be officially licensed in Vietnam last year as well, but this was later refuted by the country’s government. More than five countries have warned investors of the risks involved for those choosing to invest in the company, including Thailand, Croatia, Bulgaria, Finland and Norway.

Bitconnect

Long accused of being a ponzi scheme, Bitconnect discontinued operations in January in the wake of a cease and desist order from two American financial regulators.

Users exchanged Bitcoin for Bitconnect Coin (BCC) on the Bitconnect platform, launched in Jan. 2017, and were promised astronomical returns on their investments.

Furthermore the company ran a lending program, where users lent BCC out to other users to make interest depending on how much BCC they’d lent on the platform. There was also a typical, ponzi scheme referral system.

Nevertheless, the wider cryptocurrency was hardly sympathetic when the operation shut down its lending scheme and exchange platform.

A number of users have since launched a class action lawsuit against Bitconnect to recoup lost funds - amounting to $700,000 for their particular claim.

Plexcoin
This particular ICO was nipped in the bud in Dec. 2017 after being labelled a typical return on investment ponzi scheme. Plexcorp was promising investors over 1300 percent return on investment per month before the US Securities and Exchange Commission (SEC) ordered the company to stop operations.

Over $15 mln had been raised during the Plexcoin ICO. Luckily all of the funds were frozen by the SEC and founder Dominic Lacroix was jailed.

Interestingly, it was the first time the SEC stepped in and charged an ICO through its Cyber Crime Unit. Plexcoin’s offerings was also classed as a security, hence the SEC’s decision to press charges.

[/b]Centratech[/b]
Having been endorsed by the likes of superstar boxer Floyd Mayweather and DJ Khaled, Centratech was thrust into the spotlight for its supposed Visa and MasterCard debit card service that would allow users to convert cryptocurrencies to fiat.

Two of the founders have since been arrested on fraud charges relating to the ICO, which raised around $32 mln, according to Ars Technica.

https://cointelegraph.com/news/unpacking-the-5-biggest-cryptocurrency-scams
4  Bitcoin / Bitcoin Discussion / Barclays considering Bitcoin trading desk. on: April 19, 2018, 09:32:32 AM
Quote
Barclays Plc, a British multinational investment bank and financial services company headquartered in London, has a fairly long history of putting down Bitcoin. Now, the financial institution looks to be changing its tune as it begins gauging its clients’ interest in a potential cryptocurrency trading desk.

http://bitcoinist.com/barclays-considering-bitcoin-trading-desk/

It looks like another institutional investors trying to join the crypto picture as well. Do you think it will bring some positive effect the ecosystem?

We all have seen CBoE and CME affecting the market in a negative way, so I supposed that this is not as welcoming as others might think.

Your thoughts?
5  Bitcoin / Press / [2018-04-18]Kraken CEO: Crypto Exchange Won't Answer New York AG's Inquiry on: April 19, 2018, 09:22:39 AM
Kraken CEO: Crypto Exchange Won't Answer New York AG's Inquiry

San Francisco-based cryptocurrency exchange Kraken isn't planning to respond to the New York Attorney General's newly unveiled inquiry into the ecosystem.

Kraken was one of 13 exchanges that received a letter from New York Attorney General Eric Schneiderman on Tuesday as part of his new inquiry into cryptocurrency exchanges, as previously reported. While most exchanges generally welcomed the inquiry and said they would fill out the attached questionnaire, Kraken took a different tack when reached for comment.

"Kraken's BitLicense-prompted exit from New York in 2015 pays another dividend today," CEO Jesse Powell said via email early Wednesday morning.

Powell made it clear that Kraken does not intend to answer the questionnaire, saying:

"I realized that we made the wise decision to get the hell out of New York three years ago and that we can dodge this bullet."

https://www.coindesk.com/kraken-ceo-crypto-exchange-wont-comply-with-new-york-inquiry/
6  Bitcoin / Press / [2018-04-18]Amazon Granted Patent For Streaming Data Marketplace With Bitcoin Us on: April 18, 2018, 03:15:14 PM
Amazon Granted Patent For Streaming Data Marketplace With Bitcoin Use Case

Amazon Technologies, Inc., a subsidiary of e-commerce giant Amazon, received a patent for a streaming data marketplace that would enable users to receive real-time cryptocurrency transactions data, according to a document released April 17.

In order to meet the needs of organizations in managing of large amounts of data, the company, according to the patent, developed a technology for processing streaming data on a large scale with relatively low latency. Additionally, it would allow developers to “build real-time dashboards, capture exceptions and generate alerts, drive recommendations, and make other real-time business or operational decisions.”

The multi-streaming data service would be able to process information from different sources, including “web site click-streams, marketing and financial information, manufacturing instrumentation and social media, operational logs, metering data and so forth.”

https://cointelegraph.com/news/amazon-granted-patent-for-streaming-data-marketplace-with-bitcoin-use-case
7  Bitcoin / Press / [2018-04-18]Japanese Airline Confirms Future BTC Payment Option In The Works on: April 17, 2018, 11:59:19 PM
Japanese Airline Confirms Future BTC Payment Option In The Works

Peach Aviation, a low-cost airline in Japan, has confirmed that their plan to allow Bitcoin (BTC) as payment is only delayed, not cancelled.

Peach Aviation had initially announced in May 2017 that customers would be able to use Bitcoin as a payment method by the end of the year. However, in December 2017, the plan was postponed until March 2018.

The airline had partnered with crypto exchange BITpoint Japan for the new BTC payment system as well as for plans to open Bitcoin ATMs at airports around Japan. Japan has recognized Bitcoin as a legal payment method in the country since April 2017.

Japanese broadcasting corporation NHK World had published an article last week, which has since been removed, that cited Peach Aviation officials questioning the dependability of cryptocurrency after Japanese crypto exchange Coincheck was hacked for $534 mln in NEM, and in light of recent volatility in the markets.

In response to the rumors that Peach Aviation would not follow through with their BTC payment option after the NHK article, the airline denied such a cancellation on their website, stating:

“There have been some reports today on our company retracting its plan to enable airline tickets to be purchased with Bitcoins; however, this is not something that was announced by our company and is not a fact. We are currently considering our start period in aiming to introduce such a service.”

Peach Aviation is not the first to accept Bitcoin as payment for flights. In July 2017, AirBaltic added the option to purchase flights with BTC. Singapore Airlines as recently as today, Feb. 5, announced a Blockchain-based frequent flyer app to be released in August 2018.

https://cointelegraph.com/news/japanese-airline-confirms-future-btc-payment-option-in-the-works
8  Bitcoin / Press / [2018-04-15]HODL On: In Defense of Bitcoin's Best Strategy on: April 16, 2018, 03:41:22 PM
HODL On: In Defense of Bitcoin's Best Strategy

In 1987's Black Monday stock market crash, Sam Walton, the world's richest man, lost more than half a billion dollars in a few hours.

When reached for comment, Walton said, "It's paper anyway. As far as I'm concerned we're focusing totally on the company doing well and taking care of our customers."

He didn't care about dollars; he cared about his asset Wal-Mart, and he still owned that.

History of the #HODL


Here is the original post by GameKyuubi on a Bitcoin Talk forum (spelling errors and profanity included):

I AM HODLING

I type d that tyitle twice because I knew it was wrong the first time.  Still wrong.  w/e.  GF's out at a lesbian bar, BTC crashing WHY AM I HOLDING? I'LL TELL YOU WHY.  It's because I'm a bad trader and I KNOW I'M A BAD TRADER.  Yeah you good traders can spot the highs and the lows pit pat piffy wing wong wang just like that and make a millino bucks sure no problem bro.  Likewise the weak hands are like OH NO IT'S GOING DOWN I'M GONNA SELL he he he and then they're like OH GOD MY ASSHOLE when the SMART traders who KNOW WHAT THE FUCK THEY'RE DOING buy back in but you know what?  I'm not part of that group.  When the traders buy back in I'm already part of the market capital so GUESS WHO YOU'RE CHEATING day traders NOT ME~!  Those taunt threads saying "OHH YOU SHOULD HAVE SOLD" YEAH NO SHIT.  NO SHIT I SHOULD HAVE SOLD.  I SHOULD HAVE SOLD MOMENTS BEFORE EVERY SELL AND BOUGHT MOMENTS BEFORE EVERY BUY BUT YOU KNOW WHAT NOT EVERYBODY IS AS COOL AS YOU.  You only sell in a bear market if you are a good day trader or an illusioned noob.  The people inbetween hold.  In a zero-sum game such as this, traders can only take your money if you sell.

so i've had some whiskey

actually on the bottle it's spelled whisky

w/e

sue me

(But only if it's payable in BTC)


https://www.coindesk.com/bitcoin-in-defense-of-hodlers/
9  Bitcoin / Press / [2018-04-12]$7.5K Ahead? Bitcoin Price Charts Hint at Bull Move on: April 12, 2018, 06:47:27 PM
$7.5K Ahead? Bitcoin Price Charts Hint at Bull Move

The stagnant bitcoin charts could spring back to life in the next 24 hours, with a bullish move possibly on the cards.

The cryptocurrency has been moving in a more or less sideways manner for over a week now and - currently trading at $6,848 on Bitfinex - is largely unchanged on a 24-hour basis.

However, the price range continues to narrow on a daily basis (as seen on the chart below) and a breakout appears to be imminent.

https://www.coindesk.com/7-5k-bitcoin-price-charts-hint-at-bull-move-ahead/
10  Bitcoin / Press / [2018-04-12]NY Regulator Argues BitLicense Regulation Boosted Businesses on: April 12, 2018, 06:22:59 PM
NY Regulator Argues BitLicense Regulation Boosted Businesses

The New York State Department of Financial Services (NYDFS) is taking steps to defend its much-contested track record as an early regulator of cryptocurrency.

In remarks at this year's Conference of State Bank Supervisors Tuesday, NYDFS superintendent Maria Vullo discussed the agency's efforts to police the cryptocurrency space, touting the state's technology-specific licensing regime, the BitLicense, as an example of how her agency has contributed to the maturation of the industry.

Because the agency's role is to protect consumers, cryptocurrencies needed to be regulated, and these regulations, she argued, have benefited the space

She told attendees:

"The regulatory structure that we created for virtual currency has helped our licensed companies attract greater interest from customers, investors, and potential financial services partners seeking to pursue further innovation, while protecting market integrity by stringent standards applicable to all law-abiding business enterprises."

https://www.coindesk.com/ny-regulator-argues-bitlicense-regulation-boosted-businesses/
11  Bitcoin / Press / [2018-04-11]The Winklevoss Brothers Just Won a Crypto Patent on: April 12, 2018, 12:55:41 PM
The Winklevoss Brothers Just Won a Crypto Patent

A company owned by Cameron and Tyler Winklevoss, founders of the Gemini cryptocurrency exchange, has been granted a patent for a system that seeks to improve the security of digital transactions.

The application was filed in November and granted on Tuesday by the U.S. Patent and Trademark Office (USPTO). It describes a "system, method, and program product for processing secure transactions within a cloud computing system," with Andrew Laucius, Cem Paya and Eric Winer named as inventors (neither of the Winklevosses is included on the list).

This system uses a combination of common cryptographic techniques, including hash functions and digital signatures. Figures included in the application explain that the system is intended to provide security in a cloud-based digital asset exchange.

And while it doesn't spell it out directly, the patent's language suggests that the proposed system could be used within Gemini's infrastructure.

https://www.coindesk.com/winklevoss-twins-just-won-crypto-related-patent/
12  Bitcoin / Press / [2018-04-10]Bear Market 'Largely Over,' Crypto Hedge Fund Manager Claims on: April 10, 2018, 11:52:07 PM
Bear Market 'Largely Over,' Crypto Hedge Fund Manager Claims

Timothy Enneking, managing director of Crypto Asset Managment, LP, said Monday that the winter in cryptocurrency markets is "largely over."

Crypto Asset Management, which was founded last year and has roughly $20 million in assets under management, saw its CAMCrypto30 cryptocurrency index fall by 69 percent since its high in January. Enneking sees four reasons for the collapse.

Asset consolidation, regulatory concerns, massive liquidation by the Mt. Gox trustee and startups' selling crypto assets to pay salaries and expenses are all factors in the market's overall decline, he wrote.

"Consolidation after the amazing 2017 increase" drew back some of the funds invested in cryptocurrencies, he said.

Invsestors are also likely wary due to recent regulatory actions. While he did not cite any specific events, the report comes just weeks after the U.S. Securities and Exchange Commission subpoenaed startups with initial coin offerings.

It remains unclear what exactly the SEC is looking for, though an official confirmed "dozens" of investigations were underway.

The other two reasons likely had less of an impact, Enneking said.

These factors have mostly been priced into the cryptocurrency market, which, despite the recent rout, is still up by over 600 percent in the last 15 months.

Enneking also noted that bitcoin's share of the overall cryptocurrency market has fallen from 45.7 percent on Dec. 20 to 44.3 percent. This decline in "BTC dominance" has coincided with a decline in correlation between bitcoin and other cryptocurrencies, he wrote.

While the note does not comment on what declining correlation means, it could indicate that the quality of individual cryptocurrencies is beginning to have a greater influence on their market prices.

The combination of these factors indicate that the market should begin rebounding soon, he indicated in his report.

https://www.coindesk.com/bear-market-largely-over-crypto-hedge-fund-manager-claims/
13  Bitcoin / Press / [2018-04-05]Malta Finance Regulator Warns Against Crypto Margin Trading Site on: April 05, 2018, 04:46:38 PM
Malta Finance Regulator Warns Against Crypto Margin Trading Site

Malta's government has released a new warning about a cryptocurrency margin trading site.

StocksBTC claims on its website to be registered with the agency and to have a physical location in the country. That's not true, according to the Malta Financial Services Authority (MFSA), prompting it to issue a warning Thursday to investors about the service.

In addition, the MFSA noted that StocksBTC "appears to be offering investment and/or other financial services to consumers." As part of its warning, the regulator noted that Stocksbtc is not "licensed or otherwise authorised by the MFSA to provide any type of financial services which are required to be licensed or otherwise authorised under Maltese law."

The statement continued:

"The MFSA strongly advises investors and consumers of financial services that prior to making any investment or entering into any financial services transaction they should ascertain that the entity with whom the investment or transaction is being made is authorised to provide such services by the MFSA or another financial services regulatory authority as applicable."

https://www.coindesk.com/malta-finance-regulator-warns-crypto-margin-trading-site/
14  Bitcoin / Press / [2018-04-05]R3 Researcher: Central Bank Blockchain Could Go Live In 2018 on: April 05, 2018, 03:20:35 PM
R3 Researcher: Central Bank Blockchain Could Go Live In 2018

A form of central bank digital currency (CBDC) may go live in 2018.

At least that's according to Antony Lewis, research director at global banking consortium and distributed ledger software startup R3, who issued the prediction during a panel discussion at the Deconomy event in Seoul, South Korea, on Wednesday.

"For wholesale use (of CBDC), I think we are looking at this year. We have had conversations with central banks who have mandates to fix certain payment problems, and one solution they look to is a blockchain type of platform," Lewis said.

Yet, Lewis clarified that this does not mean consumers will have a new payment choice that functions like bitcoin or ether do today, per se. In fact, Lewis projected that such a cryptocurrency would be used only by select financial institutions to start.

In this way, Lewis argued such a system would likely even only be used in certain specific situations, such as in instances of disaster recovery due to their current limitations.

He argued:

"Don't make your secondary (decentralized) system look like your primary (centralized) system. Otherwise If a primary system goes down in an attack, then all the attackers need to do is just to play the same trick. Then it's not resilience, it's just another IP address to attack."

https://www.coindesk.com/r3-researcher-central-bank-will-issue-cryptocurrency-2018/
15  Bitcoin / Press / [2018-03-28]Survey: Younger Koreans More Likely to Invest in Crypto on: March 29, 2018, 12:59:00 PM
Survey: Younger Koreans More Likely to Invest in Crypto

Nearly a quarter of South Koreans in their twenties want to invest in cryptocurrencies, according to a new poll conducted by Bank of Korea.

Yonhap News reported Tuesday that the bank's survey examined cryptocurrency awareness among 2,511 Korean residents, with the age of the respondents ranging from people in their twenties to their seventies.

Notably, the survey found that roughly 30% of people in their twenties and 40% of those in their thirties are familiar with cryptocurrencies, while only 21.6% of the overall group was aware of the tech.

Perhaps unsurprisingly, the numbers were not as high among the older generations: only the older generations, 5.7% of people in their sixties and 2.2% of people in their seventies had any knowledge of cryptocurrencies.

Younger survey participants also displayed a greater appetite for investing in cryptocurrencies. Some 24.2% of those in their twenties said they were "eager to invest in cryptocurrencies," according to Yonhap, compared to 20.1% for those in the thirties age-group.

Yonhap noted that an estimated 2 million people currently own cryptocurrencies in South Korea, or about 4% of the country's roughly 52 million residents, which is perhaps reflective of the fast-growing market for trading there.

And while Korean officials have reportedly raided three different exchanges as part of a larger embezzlement probe - signaling that regulators have no plans to stop policing the space - other firms are entering the market to capitalize on the interest.

The company behind Kakao Talk, the country's most popular messaging app, confirmed this week that it is launching a blockchain-focused subsidiary. At the same, it rejected rumors that it is preparing to launch a cryptocurrency and associated token sale.

https://www.coindesk.com/survey-younger-koreans-more-likely-to-invest-in-crypto/
16  Bitcoin / Press / [2018-03-27]If Facebook Can Be Worth Billions, Why Can't Cryptos? on: March 27, 2018, 10:55:27 PM
If Facebook Can Be Worth Billions, Why Can't Cryptos?

It's been a rough month for Mark Zuckerberg.

In the fallout from the Cambridge Analytica fiasco, in which it was found a third-party data provider was mining user information on behalf of political groups, Facebook and its founder have faced an outcry of criticism over the company's role as leader-supreme data custodian for the developed world.

But for the crypto community, the resulting plunge in Facebook's stock price offers an instructive example for a fundamental argument: whether the current cryptocurrency market, in which more than 20 blockchain networks are "valued" in excess of $1 billion, is overheated or in a "bubble."

To answer that question, it's helpful to ask another one - namely, how exactly is it possible that Facebook, which collects users' identifying data and connects them through messaging, is valued so highly to begin with?

Indeed, it doesn't seem like consumers are apt to bat an eye when they hear Facebook is worth nearly $500 billion, or that WeChat, an app which offers largely the same service for a China-based audience, is valued similarly. (Even Snap, a smaller fish in the pond, is valued at $20 billion, a figure that dwarfs all but the largest cryptocurrency networks.)

The analogy offers a sharp retort to the criticisms that bitcoin and other blockchains can't possibly sustain or justify their current valuations, or achieve market capitalizations that exceed what we observe today in more "rational" times.

A useful question here is, if all social networks are created equal, using pretty much the same combination of technologies, how can they produce so much value?

After all, according to crypto critics, there's no reason to have so many coins when they're all using the same basic building blocks. Here in the market, however, we have an example of an almost wholly contrary outcome.

Marginal differences in technology
What might be most remarkable is that these naysayers, if they were to look closely at their phones, would uncover a swath of apps - SMS, Telegram, Signal, Slack, Skype, etc - all of which offer, in the grand scheme of things, what amount to slight variations on the same communications experience.

Put simply, it would seem, there's a big market for "features," or slight variations on popular tools, at least when the primary product is a mode of expression.

It follows that all of these social networks have different valuations for at least two reasons - the unique and different make-ups of their user bases and the variety of specific ways they offer users to communicate across the globe.

You might use Snapchat if you want to send a picture, WeChat if you wanted to talk to someone in Asia, or Signal if you wanted a truly encrypted, private experience.

In this case, you can think of the end user base as a form of liquidity and the features as the rules by which those interactions are governed. Some, like Twitter, might produce more casual relationships, while others, like Facebook, could be more familial.

Still, each network unlocks value in offering unique access to a certain kind of contact. The message is the same in each, the same mix of characters, emoticons and images.

What's different is the network, how it's valued by the users, and how they use it.

An argument for many cryptos
It would seem, then, that a similar argument could be applied to money and asset ownership by virtue of the new protocols that enable their expression - blockchains and cryptocurrencies.

Here, it's helpful to think of what a starkly different environment today's messaging protocols offer when compared to say, Bell Atlantic, or another long-forgotten phone company. Cherry-picking a somewhat random and self-serving example from a Google search, Bell Atlantic was valued at $125 billion at the time it was the largest local phone company the U.S.

My hunch is if you examined that data, you'd find all the market capitalizations of large telecos don't add up directly to those of communications companies today.

The implication is that internet protocols didn't merely shift the value already created by communication, they unlocked more of it than was ever thought possible. Armed with the ability to communicate in infinitesimally small interactions (poke Zuck, anyone?) users appear to want to exercise that power and create new value streams.

Applied to blockchains, why couldn't similar variations unlock similarly massive amounts of value?

I'd say the Telegram ICO is starting to make a bit more sense.

https://www.coindesk.com/facebook-can-worth-billions-cant-cryptocurrencies/
17  Bitcoin / Press / [2018-03-27]Vitalik Wants You to Pay to Slow Ethereum's Runaway Growth on: March 27, 2018, 09:51:53 PM
Vitalik Wants You to Pay to Slow Ethereum's Runaway Growth

Could adding a new fee help preserve ethereum in the long term?

It's a contentious statement in light of the debates ongoing across blockchains over how and when users should pay to support what amount to global computing networks. However, the concept is now gaining notable momentum on ethereum, most recently from the creator of the world's second-largest blockchain himself, Vitalik Buterin.

Buterin's concept, described in a recent blog post, revolves around so-called "rent fees," whereby users would be asked to pay to use the network based on how long they'd like their data to remain accessible on the blockchain.

The idea has recently seen interest generally, as ethereum developers have sought to cope with the platform's increased adoption, and, in turn, the increased amount of data being added that all network nodes need to store.

https://www.coindesk.com/vitalik-wants-pay-stop-ethereums-runaway-growth/
18  Bitcoin / Press / [2018-03-21]Bitcoin Will Be World's 'Single Currency' Says Twitter CEO on: March 21, 2018, 09:22:43 PM
Bitcoin Will Be World's 'Single Currency' Says Twitter CEO

Jack Dorsey, chief executive of Twitter and payment company Square, has spoken of his strong belief in the future potential of bitcoin.

In an interview with The Times published Wednesday, Dorsey, himself a noted bitcoin investor, said he believes the cryptocurrency will take over the U.S. dollar's dominant place in world finance and become the primary global currency for payments.

Suggesting the shift could happen in 10 years or perhaps less, the entrepreneur said:

"The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin."

https://www.coindesk.com/twitter-ceo-jack-dorsey-bitcoin-will-be-the-worlds-single-currency/
19  Bitcoin / Press / [2018-03-20]$9K Ahead? Bitcoin Looks North After Bull Breakout on: March 20, 2018, 10:56:57 AM
$9K Ahead? Bitcoin Looks North After Bull Breakout

Bitcoin (BTC) looks set to extend its two-day winning streak and could soon test the $9,000 mark, technical analysis suggests.

Over the last two days, bitcoin has retraced close to 30 percent of the recent drop from $11,660 (March 5 high) to $7,335 (March 18 high). Further, the cryptocurrency also witnessed an upside break of the key descending trendline yesterday. So, it appears the world's largest cryptocurrency by market capitalization has bottomed out for the short-term.

However, despite the bull flag breakout, the cryptocurrency has been restricted to a narrow range of $8,200-$8,700 for the better part of the last 20 hours.

https://www.coindesk.com/9k-ahead-bitcoin-looks-north-after-bull-breakout/
20  Bitcoin / Press / [2018-03-13]Japan to Call for G20 Action on Crypto Money Laundering on: March 13, 2018, 09:35:28 PM
Japan to Call for G20 Action on Crypto Money Laundering

Japan is reportedly planning to use a G20 meeting next week to call for combined regulatory efforts to combat the use of cryptocurrencies in money laundering.

The news comes via a Reuters report citing a government official with knowledge of the situation. However, the likelihood of the G20 finance chiefs uniting on new international rules are not high, the official said, as different countries approach regulation of cryptocurrencies in a variety of ways.

"The general feeling among the G20 members is that applying too stringent regulations won't be good," an official was quoted as saying.

The G20 meeting will take place in Buenos Aires from March 19-20.

If Japan makes the call for cooperative action on cryptocurrencies, the nation will likely not be alone.

On Feb. 9, senior officials from France and Germany also called for the G20 group to discuss combined action on cryptocurrencies.

In a letter to the Argentinian government - which currently holds the presidency of the G20 - French finance minister Bruno Le Maire, German finance minister Peter Altmaier, and the heads of their respective central banks, expressed concerns about the risk of cryptocurrencies for investors.

A week earlier, U.S. Treasury Secretary Steven Mnuchin also indicated he would raise the subject of cryptocurrency regulation during an upcoming G20 summit. Like Japan, he raised the issue of cryptocurrency use in money laundering and other illicit activities.

https://www.coindesk.com/japan-call-g20-action-crypto-money-laundering/
Pages: [1] 2 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!