Bitcoin (BTC) mining will not face a state crackdown in China, authorities have confirmed in new official documents. As noted by Blockstream CSO Samson Mow and others on Nov. 6, mining no longer features on a list of industries Beijing considers undesirable.

“Bullish for Bitcoin”
The change came via a new edition of China’s Industrial Structure Adjustment Guidance Catalog, which will take effect from the start of 2020.

“China’s National Development and Reform Commission has removed #cryptocurrency mining from the list of industries they want to eliminate. Bullish for #Bitcoin,” Mow commented.

A previous incarnation of the document earlier this year had conversely included Bitcoin mining as one of the government’s targets.

The news marks a rare boon for Bitcoin-related activities in China, a country where cryptocurrency outside the control of the central bank remains all but banned.

BTC markets calm
The recent endorsement of blockchain technology from president Xi Jinping coincided with a dramatic rise in BTC/USD, after which local media cautioned on misinterpreting the remarks as supportive of crypto.

Following the most recent announcement, however, little appeared to change on Bitcoin markets.

Mining has long formed a profitable industry in China, with cheap electricity meaning major participants still reside there. Canaan Creative, one of the biggest Bitcoin mining rig manufacturers, will reportedly undergo a $400 million initial public offering, or IPO, later this month.

Cointelegraph

No doubt that this could be the one of the most bullish news this year, this could quiet bring back confidence to Chinese Crypto miners that fled from their country due to past regulation pressure. Whats your thought, is this the bullrun catalyst that weve been waiting for?

Malta-based cryptocurrency exchange Binance is opening an office in Beijing, two sources with knowledge of the matter told CoinDesk. The new outpost will join Binance’s current mainland China office in Shanghai.

It’s not clear what exactly the office will do or when it will open, but the move follows a slew of announcements from Chinese authorities, including President Xi Jinping outlining China’s new blockchain ambitions.

Relations between Binance leadership and Chinese authorities appear to have warmed recently, with the exchange publishing a report on China’s plans for a digital fiat currency over the summer and Binance CEO Changpeng Zhao stating this week on Twitter that he believes the Chinese central bank is having a positive impact on the crypto industry. This comes just one year after China’s censorship firewall blocked access to the Binance website.

These days, Binance executives have publicly stated the exchange is working with multiple governments on an upcoming stablecoin project called Venus. Binance co-founder and chief marketing officer Yi He told Bloomberg that Binance will help governments “fully supervise” the cryptocurrency industry through such projects to ensure “stable, sustainable development.”

Although Zhao grew up in Canada, he was born in China and worked at the China-based exchange OkCoin before founding his own empire. Binance made its first investment in a Chinese crypto company, Mars Finance, last September. Many of the exchange’s earlier investors hail from the Chinese tech industry, including Black Hole Capital and Funcity Capital.

Zhao added via Twitter on Tuesday that Binance currently sees a “few million dollars a day” worth of volume from Chinese users, especially via the peer-to-peer functionality that became available in China earlier this month. However, an increased focus on serving Chinese users doesn’t inherently mean the company is working with authorities on products or services beyond the Venus stablecoin project and compliance efforts.

“I don’t have anything that’s not public,” Zhao said in the Twitter video, referring to Chinese government strategies, adding:

“All of my readings are from public sources.”

source

Honestly I am really impressed with Binance commitment in bringing their flagship in different continents however we understand that governments have their different approach about cryptocurrency. Do you think Binance can influence governments decision to ease regulations and political pressure?

Peter Schiff ruthlessly shatters the dreams of Bitcoin holders who hope that the top coin will reach new highs, reiterating his point about market manipulations.

Peter Schiff, the CEO of Euro Pacific Capital, is not amused by Bitcoin's latest 40 percent price revival.

The world-famous gold proponent continues to insist that the crypto market is being manipulated by deep-pocketed whales.

In his latest tweet, Schiff states that large Bitcoin holders want to protect themselves from the upcoming market crash by selling their BTC and using delusional holders to cash in.   

After numerous pundits tried to wrap their heads around the recent market rally, Schiff took to Twitter to share his own take on Oct. 28. He believes that this Bitcoin turnaround had nothing to do with China and everything to do with whales "suckering in" gullible buyers.

Schiff rose to stardom by accurately foreseeing the financial market crisis in 2008, but Bitcoin price predictions might not be his thing.

As reported by U.Today, he claimed that the BTC price could plunge to as low as $2,000 on Oct. 20, less than a week before Bitcoin recorded its third biggest daily gain in history.

His $4,000 prediction, which was made right after Bitcoin's precipitous plunge to the $8,000 level, also never came to fruition.   

Source

Undeniably price manipulation often happens in unregulated crypto markets. Do you agree in this economist statement or do you oppose? Do you believe that recent price surge is cause by manipulation or natural demand?

While the PBoC has yet to confirm the launch of "DCEP," China's finance tsar Huang Qifan says that the central bank has been studying it for almost six years

Huang Qifan, executive vice president of the China International Economic Exchange Centre, has confirmed that the People's Bank of China plans to roll out its own digital currency, which will be called "DCEP" (digital currency electronic payment). 

China Finance 40 Forum (CF40), the organization that focuses on finance policy research and academic exchange, published a video that features an excerpt from Qifan's speech during the inaugural Bund Summit that is taking place from Oct. 27 till Oct. 29.

Qifan reveals that China has been working on the project for about five or six years. After the launch of the DCEP coin, the PBoC will become the very first central bank in the world to issue its own cryptocurrency.

Tongues have been waggling about the state-backed Chinese digital currency for quite a while. As reported by U.Today, it could pose a serious threat to AliPay and WeChat Pay.

Latter, it seemed like the "China Coin" was temporarily shelved -- a source close to the Chinese Communist Party revealed that the cryptocurrency would not be launched anytime soon.

However, President Xi Jinping's embracement of the Blockchain technology has put China at the forefront of the crypto conversation once again. A senior Chinese official also opined that Blockchain needed "special attention" after Xi's comments.

At this point, China is poised to become a leading crypto force despite formally opposing it. Bitcoin remains banned in China despite the fact that local miners are responsible for 70 percent of its hash rate. 

Source

Now that Chinese Government is boldly showing their development in issuing the world’s first state-backed digital currency, will other countries follow the same path? What could be its implications to Bitcoin and cryptocurrencies?

Bakkt, the Bitcoin futures exchange backed by the owners of the New York Stock Exchange, today hit a new all-time high in trading volume.

At the moment, 1,131 futures contracts have been traded, with the last traded price set at $8,622 per contract. Together, those contracts represent approximately $9.7 million of trading capital. The previous all-time high record, set earlier this week on Wednesday, was for 640 contracts.   

Based on these figures, the unofficial Bakkt volume bot estimated that 2,095 monthly contracts, each consisting of 1 BTC, would change hands by the day’s end.   

This week has witnessed multiple sharp spikes in Bakkt’s trading volumes. For example, Wednesday’s bump in volumes represented a 653 percent increase in volumes. They have also coincided with an increase in the contract’s price.

When it began trading in September, each monthly futures contract was worth $9,965. But a cold reception from investors meant a steady decline in its prices, with a bottoming out this past Wednesday at $7,452. The trading volume spike this morning has also resulted in a corresponding increase in contract prices by approximately 18 percent.

Why did Bakkt volumes spike?

As with most things related to cryptocurrency, there are no clear explanations for the amplification in volumes.

The Chinese premiere’s positive remarks about blockchain tech are said to have contributed to a jump in Bitcoin prices this morning. Typically, futures prices are harbingers of prices in spot markets. In this case, however, both markets seem to have moved in tandem.

Another possible reason could be traders moving funds between derivatives markets around the world to hedge their positions. For example, a trader might purchase futures at Bakkt to mitigate risk in a similar position elsewhere. Again, futures volumes at other markets, including those at Binance, seem to be moving in concert with Bakkt volumes.

Whatever the reason, the increase in trading volumes at Bakkt bode well

for its options product, due on December 9. Volatility in underlying futures markets for options is an opportunity for traders to make money and contributes to their popularity.

source

Sa mga nadismaya na kay BAKKT ito buhay na buhay parin siya at sumasabay sa agos, slowly but steady tumataas ang trading volume. Sa tingin nyo isa kaya ito sa magiging catalyst for another bull-run or bluff parin? Please share your opinions. 

China’s President Xi Jinping has called for the country to accelerate its adoption of blockchain technologies as a core for innovation. Xi made the comments at a Politburo Committee session on blockchain technology trends on Oct. 24.

Blockchain adoption promotes innovation
Xi stressed that the implementation of integrated blockchain technologies is key in promoting technological innovation and transforming industries. He told the committee:

“We must take blockchain as an important breakthrough for independent innovation of core technologies, clarify the main directions, increase investment, focus on a number of key technologies, and accelerate the development of blockchain and industrial innovation.”

Blockchain, not Bitcoin
Xi’s push for greater blockchain adoption comes against the backdrop of China’s long-standing aversion to — and a crackdown on — cryptocurrencies. Authorities in the country first banned ICOs in 2017, quickly followed by cryptocurrency exchanges.

There have even been reports that at least one government agency is considering a ban on cryptocurrency mining.

Digital currency arms race
Unsurprisingly, the one cryptocurrency that the Chinese government doesn’t seem to have an issue with is its proposed central bank digital currency (CBDC). Despite reports throughout the summer that the launch of this was imminent, officials from China’s Central Bank last month said that there was no timetable for the launch of the CBDC.

Meanwhile, Facebook’s Mark Zuckerberg has been referencing the threat of Chinese superiority in the digital currency space in an attempt to sell U.S. lawmakers his plans for the Libra stablecoin.

"China is moving quickly to launch a similar idea in the coming months. We can't sit here and assume that because America is today the leader that it will always get to be the leader if we don't innovate,” he argued in an official statement.

Source

Blockchain technology is undoubtedly the real deal in some countries despite their crackdown on cryptocurrencies, They really can't deny their fascination for this kind of innovation. In your opinion do you think blockchain can transform Governments?

Good day guys, share ko lang para sa mga hindi aware meron pong kaunting pagbabago regarding Cryptotalk.org signature. May adjustments sa maximum posts daily, effective guys noong Oct. 21 pa. Paalala lang ito mga kabayan para iwas ban. Goodluck sa ating lahat!

★☆★Rates★☆★

★ Sr Member: 0.00012 BTC per constructive post. 10 Posts max per day.
★ Hero Member: 0.00016 BTC per constructive post. 10 Posts max per day.
★ Legendary Member: 0.00020 BTC per constructive post. 10 Posts max per day.

Update: limit from now is only 10 posts / day

I will lock this thread soon. Thank you moderators!

[The complaint alleges that law enforcement was able to trace payments of bitcoin to the Darknet site by following the flow of funds on the blockchain. The virtual currency accounts identified in the complaint were allegedly used by 24 individuals in five countries to fund the website and promote the exploitation of children. An unsealed forfeiture complaint seeks to recover these funds as part of efforts to assist victims of the crime.]

This is the reason why criminals should refrain from using Bitcoin for their evilness. Nakakagaan ng trabaho para sa mga law enforcement ang transparency na hatid ng Blockchain technology.

The largest dark web child pornography site in the world has been taken down. That was the word today from the U.S. Attorney’s Office for the District of Columbia, the Justice Department’s Criminal Division, the IRS Criminal Investigation (IRS-CI), and U.S. Immigration and Customs Enforcement’s Homeland Security Investigations (HSI), together with the National Crime Agency of the United Kingdom and Republic of Korea at a joint press conference announcing arrests and forfeitures.

According to the IRS-CI, agents became aware of Welcome to Video, the largest child sexual exploitation market by volume of content, because of their work on previous dark web marketplaces. The dark web, also referred to as “Darknet,” refers to content that you don’t typically access through regular internet browsing activities.

IRS-CI was able to trace bitcoin transactions on the site to people all over the world who were uploading and downloading this material, as well as find the location of the site administrator. By analyzing the blockchain and de-anonymizing bitcoin transactions, the agency was able to identify hundreds of predators around the world - even though those users thought that they could remain anonymous.

As a result of the investigations, Jong Woo Son, 23, a South Korean national, was indicted by a federal grand jury in the District of Columbia for operating the site. Son has also been charged and convicted in South Korea and is currently in custody in South Korea. The operation resulted in the seizure of approximately 7.5 terabytes of child pornography videos, the largest of its kind: that’s more than 10,000 CDs full of imagery that are no longer in the hands of child pornographers. The images, which are being analyzed by the National Center for Missing and Exploited Children (NCMEC), contained over 250,000 unique videos; 45% of the videos contain images that have not been previously known to exist.

According to the indictment, on March 5, 2018, agents from the IRS-CI, HSI, National Crime Agency in the United Kingdom, and Korean National Police in South Korea arrested Son and seized the server that he used to operate a Darknet market which advertised child sexual exploitation videos. The site, Welcome To Video, offered these videos for sale using the cryptocurrency bitcoin: the site boasted over one million downloads of child exploitation videos by users.

The website is among the first of its kind to monetize child exploitation videos using bitcoin. Here’s how it worked: each user received a unique bitcoin address when the user created an account on the website. Those accounts could be used to pay to download the videos. An analysis of the server revealed that the website had more than one million bitcoin addresses, signifying that the website had the capacity for at least one million users.  

The data from the seized server was shared with law enforcement agencies around the world. This has resulted in leads sent to 38 countries. In addition to Son, 337 site users residing in 23 states (Alabama, Arkansas, California, Connecticut, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Nebraska, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Texas, Utah, Virginia, and Washington State) and Washington, D.C. ,as well as the United Kingdom, South Korea, Germany, Saudi Arabia, the United Arab Emirates, the Czech Republic, Canada, Ireland, Spain, Brazil and Australia have been arrested and charged. Two users of the Darknet market committed suicide after the execution of search warrants.

The complaint alleges that law enforcement was able to trace payments of bitcoin to the Darknet site by following the flow of funds on the blockchain. The virtual currency accounts identified in the complaint were allegedly used by 24 individuals in five countries to fund the website and promote the exploitation of children. An unsealed forfeiture complaint seeks to recover these funds as part of efforts to assist victims of the crime.

In addition to arrests and seizures, the operation is also responsible for the rescue of at least 23 minor victims residing in the United States, Spain and the United Kingdom, who were being actively abused by the users of the site.

“Children around the world are safer because of the actions taken by U.S. and foreign law enforcement to prosecute this case and recover funds for victims,” said U.S. Attorney Jessie K. Liu. “We will continue to pursue such criminals on and off the Darknet in the United States and abroad, to ensure they receive the punishment their terrible crimes deserve.”

“Through the sophisticated tracing of bitcoin transactions, IRS-CI special agents were able to determine the location of the Darknet server, identify the administrator of the website and ultimately track down the website server’s physical location in South Korea,” said IRS-CI Chief Don Fort. “This large-scale criminal enterprise that endangered the safety of children around the world is no more.”

Chief Fort noted that some might call it an odd pairing for the IRS to work on this type of investigation. But, he explained “our unique and singular focus in following the money made this a logical next step after playing key roles in dismantling Silk Road, BTC-E, Mt Gox and other crimes perpetrated in the shadows of the dark web.”

He further explained, “Our agency’s ability to analyze the blockchain and de-anonymize bitcoin transactions allowed for the identification of hundreds of predators around the world.”

Whether the funds are fiat or virtual, Chief Fort said, “IRS-CI’s expertise is in tracing money all around the world.” Today, IRS-CI is the only federal agency that devotes 100% of resources to investigating financial crimes. IRS-CI is also the only agency with jurisdiction over federal tax crimes. (For more about IRS-CI, click here.)

Chief Fort had an additional message for criminals around the world. “You used to hide by laundering your money through shell companies around the country, but we traced you. You took your money offshore and hid around the world, but we found you. You went on the dark web thinking that your actions were anonymous, but they weren’t, and we again found you. You now deal in crypto-currency, again thinking this will make you anonymous, but our agents have once again proved that there is nowhere you can hide.” He added, “We will not stop in our pursuit.”

Source https://www.forbes.com/sites/kellyphillipserb/2019/10/16/irs-followed-bitcoin-transactions-resulting-in-takedown-of-the-largest-child-exploitation-site-on-the-web/#208f74271ed0

Whats your thoughts on this guys? Another dump sa price nanaman ito kung sakaling ma execute na nila yung bill.

https://www.cnbc.com/amp/2018/01/10/south-korea-official-reportedly-readying-bill-to-ban-all-cryptocurrency-trading.html

Hi guys kumusta kayo.

Permission to post mga sir and moderator.

May naka encounter na po ba sa inyo na mag cash out from Coins. ph thru Security bank ATM (cardless) , then after a confirmation from mobile wala namang lumabas sa cash from ATM then suddenly nag appear sa ATM transaction canceled. I already reported my situation sa mismong bank at pina-follow up ko rin sila, naiinip lang ako kasi noong November 9 pa yung transaction na yun. Gaano kaya katagal ang proseso bago ko makuha refund? Im just asking sa mga may same experiences.

Salamat,

My available balance: https://etherscan.io/token/0x2fd41f516fac94ed08e156f489f56ca3a80b04d0?a=0x37f0d35a0bcdd7e484c9a1705f0f25e342c751ab

I accept bitcoin only as payment  .0002 sats each price will change tommorow depending on market status.

Why sell it here? because Etherdelta is very congested right now my mistake that I transfer some 457 ebtc from my main wallet to etherdelta with low gas until now still pending.

Mga boss first time ko gumamit ng ethereum, ang gusto ko lang malaman kung ano yung gas limit? For example magsesend ako ng tokens and yung gas limit nya is around 110,000 something, magkano po yun in USD? By the way I'm using MEW.

Salamat po sa mga sasagot, baka kasi ma wrong move ako mahirap na buti na yung nagtatanong. thanks! 😁

Have you heard about NOAHCOIN? Na curious lang ako kasi bukod sa Pesobit eh meron din palang bagong Philippine based cryptocurrency and i think 🤔 hindi nila launch dito sa forum. Correct me if I'm wrong ito site nila: http://www.philippinescoin.com/en  What's your thought on this?

This new trending app works worldwide earn .0096 easily and legit, add me on skype: rockztarjm and lets talk business. 

Hingi lang po ako ng feedback nyo sa nakagamit na ng application na to.Salamat!

Hi guys, lets try this new app medyo trending na sya. This app enables you to accumulate points and exchange it for prepaid load. Add me on skype: rockztarjm for more details. Goodluck!

Sa mga bloggers po dyan, pahingi po ako ng tips kung paano ma approve ng mabilis kay adsense? Marami na po akong nabasa na mga tips at forum from internet. Pero iba parin kung kapwa pinoy ang magbibigay ng tips, sana matugunan nyo po ang aking katanungan.Salamat!