DowBit - Daily Press News

[DowBit]

Hi!

I'm starting a new project! Everyday I will post the most important news from the cryptocurrency world, so that we can gather all informations in one place and talk about it. If it is not enough for you, for more cryptocurrency news visit my page: http://dowbit.com/


Feel free to share you opoinions! Let's start:

Cryptocurrency News - August 3rd

1. One of the most popular cryptocurrency exchanges – Poloniex announced trade halt. Yesterday their website was down but according to latest tweets, the company is aware of situation and works on restoring connectivity. What is more, the exchange has also changed their terms of service. Poloniex problems may be unsettling for its users due to recent reports about frozen account balances and support issues.
Source: Poloniex/CoinTelegraph

2. Germany’s largest Bitcoin exchange Bitcoin.de gave police sensitive user data on request without being obliged to by law. Those involved were allegedly under suspicion of having used Bitcoin to acquire drugs from the now-defunct Chemical Love online marketplace. Provided information included: real names, place of residence, phone numbers and bank details. The Bitcoin addresses involved had no proven links to Chemical Love. Bitcoin.de had at first refused to cooperate without a court order but after call from police they complied.
Source: CoinTelegrap

3. Digital currency exchange Bitfinex has revealed that it will be launching a new trading platform for ethereum-based tokens. Dubbed Ethfinex, the service aims to function as a decentralized exchange for tokens under the ERC20 standard. The exchange will notably feature a token of its own, called the Nectar token (or NEC), though Bitfinex has said that it will forego a crowdsale – rather, the token will be distributed to market makers as a kind of loyalty point, which can be redeemed for a percentage of trading fees each month.
Source: CoinBase

4. On September 10, cryptocurrency and blockchain leaders from around the world will converge in Beijing, China for the Shape the Future: Blockchain Global Summit. This conference will feature the release of the Bitcoin documentary “Bitcoin: Shape the Future,” the first-ever comprehensive look at the history and evolution of Bitcoin in China since the platform’s inception. Some of the C-level professionals that participated in the documentary include Wu Jihan, Bitmain CEO, as well as representatives from BitKan, Huobi, Bixin and ViaBTC.
Source: Bitcoin Magazine

5. Bitstamp, has announced customers who left BTC on their exchange before the fork will receive Bitcoin Cash in the near future. According to the exchange: “BCH Balances Will Be Made Available to Our Customers as Soon as It Is Safe”. Initially Bitstamp didn’t support the new altcoin but it seems to have changed it’s position towards the BCH. Exchange’s policy may have been affected by Coinbase users unfavorable reaction to lack of Bitcoin Cash support.
Source: news.bitcoin.com

See you tomorrow!

[vishtany]

Hey, Great initiative you have going here Dowbit.

Check your pm for a link.

[DowBit]

Cryptocurrency news - August 4th

1. Despite Naysayers the Bitcoin Cash Blockchain chugs forward. New blocks are being mined on a stable basis. Further, the network is operating at 26% of the original chain’s difficulty as mining has become much easier on the BCH chain. What’s interesting is that the unknown miner has captured two-thirds of the entire network hashrate and blocks found. BCH is currently 4th cryptocurrency with market capitalization of over $5 billion, falling behind Ripple. Source: news.bitcoin.com

2. Dash has employed a team of white hat hackers to hack its Blockchain and expose vulnerabilities deliberately. security checks will take the form of a ‘bug bounty’ where 60,000 “invite-only” hackers will receive incentives to determine and report the slightest problem. According to Jim Bursch: “The Dash project is like building a bank vault, and inviting elite bank robbers to participate in its design, so it can't be robbed by other criminals." Source: CoinTelegraph

3. The number of exchanges supporting Bitcoinc Cash increases. Soon after Bitstamp announcement, Coinbase changed its min as well and plans to allow users to withdraw their BCH balance. A simlar statement has also been released by GDAX. Both services aim to finish implementing Bitcoin Cash by the end of the year to ensure maximum security. The change may be caused by users who would be ready to use class-action lawsuits to claim their BCH. Source: Coinbase/GDAX

4. The token sale for a blockchain-based prediction market promoted earlier this month by boxing champion Floyd Mayweather, Jr., has raised $30 million. Stox team said that it had received backing from 2,500 contributors as of the first six hours of the sale and collected over 134 000 ETH. Sale is still underway with 148 000 ETC cap and two-week timeline.
Source: CoinDesk

See you tomorrow

[DowBit]

Cryptocurrency news – August 7th

1. Bitcoin skyrockets over $3300

2. Experts in India recommend discouraging cryptocurrency use

3. 150 new Bitcoin ATMs to be installed in Ukraine

4. Korean mall bans BTC and ETH mining

1. Another . Cryptocurrency not only went over psychological level of $3000 but today it’s worth more than $3300. The price advance also pushed bitcoin’s collective market capitalization past the $50 billion mark for the first time. Some analysts forecast further growth mentioning levels of $4000 or even $5000 by the end of the year. SegWit activation is almost guaranteed fostering further Bitcoin development. To the moon and beyond or the bubble will burst? What is your opinion?
Source: Bitcoinist

2. The multi-ministerial panel created by India’s Finance Ministry has reportedly recommended that the government take urgent steps to discontinue or discourage the use of cryptocurrencies including Bitcoin in the country. The panel also proposed that the government should regulate any commercial establishments and intermediaries if they continue using the digital currencies. The use of digital currencies, particularly Bitcoin, continues to grow rapidly across India. If the government doesn’t proceed according to the recommendation it would help in boosting cryptocurrency value and development.
Source: CoinTelegraph

3. 150 Bitcoin ATMs will be installed in Ukraine this year, including 20-30 machines set to be installed on the streets of Kiev, the capital city of Ukraine, by the end of the summer. Currently, there is only one BTM in Ukraine according to Coinatmradar. What is important the device - Cryptomat does not require user identification. Ukrainians will be able to purchase cryptocurrencies using local currency the hryvnia.
Source: news.bitcoin.com

4. An electronics retail marketplace in South Korea has reportedly taken the unusual step of banning vendors from mining bitcoin in their stores. Yongsan Market, based in Seoul, has told merchants that they aren't allowed to mine cryptocurrencies – bitcoin and ether, specifically – because of electrical costs, rising temperatures and the risk of fire. The unusual decision is notable given the size of the market (the site boasts thousands of retail storefronts), and is a reflection of the growing popularity of small-scale cryptocurrency mining.
Source:Coindesk

See you tomorrow!

[DowBit]

Cryptocurrency news – August 8th

1. SegWit lock-in – another great day for BTC

2. Mastercard files patent for cryptocurrency refunds

3. Senators in Australia push to make Bitcoin an official currency

4. Digital currencies regulations introduced in South Korea

1. In just few hours SegWit will lock-in. If everything goes according to plan during the next 2 weeks miners and service providers will have to update their software to support the new style of transactions. On August 21 SegWit will truly activate easing the load of BTC network and (at least temporarily) should decrease transaction fees. It’s just first step in scaling Bitcoin but nevertheless important milestone in technology development.
Source: Coindesk

2. Mastercard has filed a patent application with the US Patent and Trademark Office for the creation of refund services for digital currency users. Under the current system, a customer who requests a refund must have the funds sent back to the same address they paid from. Mastercard suggests the creation of a service that will allow users to choose to send refunds to a different wallet address. Mastercard is not the only financial institution in the race for patent approval. In fact, Bank of America and Goldman Sachs, are some of the leading applicants for the increasing applications that USPTO has received.
Source: CoinTelegraph

3. Lawmakers in Australia are reportedly pushing for the recognition of bitcoin as an official currency. Leading the effort are Senator Jane Hume and Senator Sam Dastyari, who are arguing that Australia should be more proactive about both cryptocurrencies and blockchain. Also among their proposals is a call for Australia's central bank to consider the launch of its own cryptocurrency.
Source: Coindesk

4. Legislation outlining the regulatory framework for digital currencies including bitcoin in South Korea has been introduced by lawmaker Park Yong-jin. It defines digital currency, introduces five classifications of digital currency handlers, as well as specifies requirements and prohibited activities. The legislation prohibits several specific digital currency-related activities such as their sale and brokering through door-to-door and multi-level marketing schemes.
Source: news.bitcoin.com

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See you tomorrow!

[DowBit]

Cryptocurrency news – August 9

1. Antshares completed rebranding to NEO and it’s currently top 10 cryptocurrency

2. Overstock will accept over 60 cryptocurrencies

3. Fidelity Investments partners with Coinbase

4. Putin's Aide Seeks $100 Million for mining BTC

1. NEO Blockchain, China’s first original public chain project, has announced the completion of rebranding efforts from its former Antshares identity. Rebranding strategy is a part of effort to lead blockchain development in China and around the world. NEO now is the top 10 cryptocurrency in terms of market value with capitalization of over $900 million. It’s definitely currency worthy of notice.
Source: Bitcoin Magazine

2. Online retail giant Overstock has partnered with blockchain startup ShapeShift to accept more than 60 cryptocurrencies as payment at its online stores. Overstock.com shoppers can now use ether, litecoin, dash and bitcoin cash at checkout. Overstock first began accepting bitcoin for payment in 2014, and it has remained active in developing the technology, even launching a dedicated subsidiary to focus on applications. Notably, Overstock said it intends to convert the cryptocurrency it receives to bitcoin.
Source: Coindesk

3. Fidelity Investments Inc has started allowing clients to use its website to view their holdings of bitcoin and other cryptocurrencies held through digital wallet provider Coinbase. Fidelity Investments is a multinational financial services corporation with assets under management worth over $2 trillion. It is also not the first ‘experiment’ the organization has launched with Bitcoin. Prospective investors have been able to donate to the $16 bln Fidelity Charitable fund using the cryptocurrency since 2016.
Source: Reuters

4. A company co-owned by one of President Vladimir Putin’s internet advisers plans to raise the cryptocurrency equivalent of as much as $100 million in a push to help Russian entrepreneurs challenge China in bitcoin mining. Funding will unsurprisingly take form of ICO and new token will be named Russian Miner Coin. These new tokens will have rights to 18 percent of the revenue earned with the company’s mining equipment. Main advantage of mass-scale mining in Russia is very low energy cost making it potentially more profitable than in China.
Source: Bloomberg


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See you tomorrow!

[tiggytomb]

This is a great project to start and I like the condensed style of the daily news, it gives people just enough information to understand and of course if they want to they can then go away and find out more. 

[DowBit]

Cryptocurrency news – August 10th

1. Bitstamp introduces Ethereum trading

2. Goldman Sachs suggests keeping a closer eye on the cryptocurrency market

3. Research says Bitcoin price booms may positively affect stock prices

4. Bitcoin mainstream adoption in Philippines is rapidly increasing, replacing banks

1. Popular exchange Bistamp will introduce Ethereum trading on August 17. Ethereum will be available for trading with USD, EUR and BTC. What is more until October 1 ETH trading will be free and in next months, until January 1, will be discounted. Pricing will also be unified with fees depending on overall monthly trading volume instead of separate fee for each currency pair.
Source: Bitstamp

2. Goldman Sachs has published a question-and-answer report focused on cryptocurrencies in which it suggests that clients should be keeping a closer eye on the market. Report also includes questions that cover Ethereum, ICOs and the ways in which cryptocurrencies can be traded in the US. Authors make the argument that clients ought to be watchful of future developments, even if they aren't committed to actually making any investments.
Source: Coindesk

3. Nautilus Investment Research recently said stock prices tend to soar whenever bitcoin experiences explosive growth. The S&P 500 has seen monumental increases in lockstep with bitcoin. It appears that bitcoin prices are correlated with rise in stock prices. There are not any clear indicators why bitcoin is a driver for the stock price. Some companies however could have a direct relationship with bitcoin. For instance, if a company integrated Bitcoin in Japan, they would see their stocks soar.
Source: news.bitcoin.com

4. Mainstream bitcoin adoption in the Philippines is rising at an exponential rate, as millions of users are starting to utilize bitcoin to settle remittance payments, utility bills and send payments at lower costs. It is important to acknowledge the horrifying inefficiency of local banking systems and financial service providers to a point when bitcoin remittance companies have started to process more payments in terms of daily volume than some of the local banks. From the consumer perspective, not everyone in the Philippines can get approved for a credit card. In many instances, consumers will just run to the bank to physically make the deposit if they are purchasing something online.
Source: NewsBTC


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See you tomorrow!

[DowBit]

Cryptocurrency news – August 11th

1. Police in UK to receive a guide on seizing BTC from criminals

2. Bitcoin core against SegWit2x

3. Filecoin ICO raises $200 million in 60 minutes

4. Grade-schoolers in Australia learn about blockchain

1. A think-tank backed by a group of UK-based law enforcement officials have published a newly drafted report called “Policing Bitcoin” which aims to standardize the practice of seizing bitcoin from criminals. The N8 police report details that law enforcement needs education on things like bitcoin exchanges, bitcoin ATMs, forensic tracing tools, a literature guide, and a booklet designed to help officers identify bitcoin activity. Currently, the research group says they are drafting a guide which provides a full walkthrough for officers on how to seize these types of funds. Do you think it’s a good way to go?

2. Bitcoin’s Core developers remain steadfastly opposed to the SegWit2x plan, despite the recent lock-in of their preferred scaling solution, Segregated Witness. SegWit2x was the compromise resulting from the New York Agreement. It called for the immediate implementation of SegWit, followed by a doubling of the blocksize by November. Core, however, refused to compromise – according to their recent statement the Bitcoin Core client would no longer connect to nodes running SegWit2x. This could have serious repercussions because 2X is supported by over 80% of hashing power. What is your opinion – which path BTC should follow?

3. An initial coin offering for the blockchain data storage network Filecoin has raised an estimated $200 million from accredited investors despite the fact that the sale halt came just over an hour after it first began. The project allows users to earn Filecoin for hosting files on their storage space. Those tokens can be then traded for USD, BTC, Eth and more in the future. Are you planning to join any ICO?

4. Students at Wooranna Park Primary School in Australia are being taught how to use the software behind Bitcoin to create their own security-encrypted digital currency. The course main purpose is to teach students about blockchain technology while programming “WoorannaCoin”. According to the teacher behind the project, learning blockchain is going to be as important as coding in schools in the coming years and will be important for getting a good job.

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See you on Monday!

[DowBit]

Cryptocurrency news – August 15

1. BTC-e to reimburse customers with it’s own token

2. Companies promoting OneCoin fined in Italy

3. Apple approves Ripple wallet

1. The Russian cryptocurrency exchange BTC-e has confirmed it will reimburse users who lost funds with newly-created BTCT tokens. BTC-e has access to only 55 percent of its reserves with the remaining 45 percent under control of the FBI. In awarding the tokens, BTC-e follows in the footsteps of fellow exchange Bitfinex, which last year compensated users in the same way after a major hack. One way of another that’s further case which proves that you shouldn’t keep your funds on exchanges.
Source: CoinTelegraph

2. A consumer rights watchdog in Italy is fining a group of companies that have promoted OneCoin, the digital currency investment scheme widely believed to be fraudulent. The 2.59 million euro fine was passed down by the Italian Antitrust Authority (IAA). The companies were sanctioned for utilizing pyramid scheme tactics and misleading investors through promotional materials and events. Would-be investors are often encouraged to find others do buy those packages from them, adding fuel to the allegations that OneCoin is a Ponzi scheme.
Source: CoinDesk

3. Apple approves Toast wallet supporting Ripple’s XRP currency. the technology giant is slowly making it easier for cryptocurrency wallets to get approved. Not too long ago, Dash finally saw its success in the Apple App Store. Yesterday, the company approved Toast Wallet, a solution designed for XRP users. This makes it easier for iPhone and iPad users to access and store their XRP holdings.
Source: NewsBTC.com

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See you tomorrow!

[rsbriggs]

Your news feed captioned BTC-e to reimburse customers with it’s own token made me to hurriedly check https://btc-e.com/index.html but i discovered that the site is still under the full control of the FBI.

What is your source and how do you think they will pay us back because my btc is there.

[DowBit]

Your news feed captioned BTC-e to reimburse customers with it’s own token made me to hurriedly check https://btc-e.com/index.html but i discovered that the site is still under the full control of the FBI.

What is your source and how do you think they will pay us back because my btc is there.

You can find the full story here --->  https://cointelegraph.com/news/btc-e-opts-to-reimburse-users-with-tradeable-btct-tokens

[DowBit]

Cryptocurrency news – August 16

1. Bitcoin satellites – blockchain straight from orbit

2. Ethereum transaction number record

3. Xmr.to claims to offer fully anonymous BTC transactions

4. Chinese government plans to use blockchain

1. Bitcoin protocol firm Blockstream just announced their plan to transmit bitcoin from space across the world using satellite technology. They have leased these satellites for the purposes of downloading a working bitcoin node, which would harbor all of the blockchain’s transaction data. These satellites will potentially give people who are disconnected from the internet access to bitcoin. Individuals in North America, South America, Africa, and Europe can already harness the power of „Bitcoin satellites”. Blockstream intends to add more countries to the list by the end of 2017. Even is service won’t be very popular it still shows amazing potential of blockchain technology.
Source: news.bitcoin.com

2. The Ethereum network experienced the highest number of daily transactions, reaching 410 000 transactions. The Co-founder, Vitalik Buterin announced on his tweeter, that it was the highest record in history and no other public Blockchain has ever reached a higher level of daily transactions. The numerical data indicate, that Ethereum definitely beats Bitcoin in terms of the number of transactions. According to Blockchain.info, there is around 255 000 transactions of Bitcoin made per day.
Source: CoinTelegraph

3. Xmr.to claims to facilitate fully anonymous bitcoin transactions. The websites receives monero (XMR) from users, and in return sends a corresponding quantity of bitcoin on behalf of the user, obscuring the origin of the payment. The company claims that the record between the sender and xmr.to is untraceable owing to monero’s protocol, and that there is no record associating the sender with the recipient of a transaction created during a transfer. Do you think there is a need for such services or it undermines trust towards cryptocurrencies?
Source: news.bitcoin.com

4. Chinese government announced, that it is planning to use Blockchain technology to collect taxes and issue electronic invoices. China is the leading country in terms of introduction of Blockchain technology and second biggest economy in the world, with a GDP of 10 trillion USD in 2016.
Source: CoinTelegraph

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[DowBit]

Cryptocurrency news – August 17

1. Bitcoin documentary on Netflix

2. First 8MB Bitcoin Cash block

3. AMD releases drivers for mining

4. Number of searches correlated with BTC price

1. Netflix, one of the key players in the entertainment industry, added a documentary about Bitcoin. The movie titled “Banking on Bitcoin” is almost 1,5h long and covers topics such as Bitcoin's roots, its future and the technology. Although for people already interested in this topic there will be hardly anything new, the documentary will surely allow wider audience to better understand recent BTC boom. Are you going to watch it?
Source: Netflix

2. Yesterday first 8MB on Bitcoin Cash blockchain was mined clearing over 37 000 transactions. One of the main reasons for August 1st fork was to significantly increase the block size and thus to start processing a larger number of transactions. New currency recently has been quite stable in terms of value sticking to level of around $300. However, BCH should be taken with a grain of salt – 90% of blocks found so far were mined by unknown miner or group of miners, which raises questions about BCH blockchain security. What is more, mining Bitcoin Cash is currently 69% less profitable than with BTC. Source: news.bitcoin.com

3. AMD – maker of Radeon GPUs which are popular among cryptocurrency miners released new drivers designed specifically for mining. Although being described as beta-level in terms of support and most probably without further upgrades, this software is another sign of mainstream hardware company going an extra mile for miners. Some time ago the company released GPUs without any video outputs designed for mining. The Green team also sees market opportunities here – according to Nvidia CEO “cryptocurrencies are here to stay”.
Source: AMD

4. Google search trends indicate that an increasing number of people looks up digital currencies. The cause of increasing interest in cryptocurrencies is probably their constant rise in prices. Furthermore, that higher interest leads to an even greater increase in price of digital currencies. We might be experiencing a vicious cycle. Bitcoin expert, Chris Burniske, who used to work as a Blockchain analyst in ARK Invest noticed a strong correlation between the price of Bitcoin and the number of searches of “Bitcoin”.
Source: CoinTelegraph

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[DowBit]

Cryptocurrency news – August 21

1. Enigma ICO hacked – $500 000 stolen

2. Monero significant gain in value

3. Lightning Network tomorrow?

4. Russian mansion on sale for 3000 BTC

1. The ICO hackers are at it again. Enigma, a de-centralized platform that’s preparing to raise money via a crypto token sale, had its website and a number of social accounts compromised with the perpetrators netting nearly $500,000 in digital coin. The hacker posted Slack messages, altered the website and spoofed emails to a community list which were made to look official and urged money to be sent to their crypto wallet. That’s despite the Enigma team having warned its community that it would not collect money in this way prior to the ICO next month. It’s yet another painful lesson to be very cautious with ICOs and cryptocurrency investments.
Source: TechCrunch

2. Bitcoin Cash is not the only currency which value rapidly increased lately. Similar situation occurred with Monero which rose from around $50 yesterday to nearly $90. One of the supposed reasons of the appriciation is said to be announcement by Bithumb, one of the largest Asian cryptocurrency exchanges, that users will be able to trade XMR starting August 27.
Source: Coinmarketcap

3. Lightning Network transactions will be available for Bitcoin from tomorrow, rumors are suggesting. Lightning Network is next major milestone in BTC development and is believed to provide “trustless instant nearly zero-fee transactions,” “scaling to billions of users” and “thousands of new apps.” Although this information is still unsourced, experience so far shows that even such news can have great impact on cryptocurrency prices.
Source: CoinTelegraph

4. The Moscow-based real estate company, Kalinka Group, announced last week “the first case in Russia for selling an elite house for bitcoins.” A country mansion with an area of 930 square meters has been put up for sale at the price of about 3,000 bitcoins. The house is located in the village of Nikolino, west of Moscow. However, the lack of legal classification for digital currencies complicates the treatment of bitcoin in the sale.
Source: news.bitcoin.com

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[DowBit]

Cryptocurrency news – August 22

1. Bitcoin Cash commands over 20% of BTC hashrate

2. John McAfee: Bitcoin is not a bubble and will grow

3. Asus introduces new motherboard for miners – 16 GPUs

4. Banks do not meet AML and KYC requirments

1. Bitcoin Cash (BCH) network got a lot more active as the large mining pool Antpool has pointed some of its hashrate towards the BCH chain. According to data, the forked chain’s hashpower has spiked exponentially, and BCH hashpower is roughly a quarter (approx. 2 exahash) of the BTC. Antoppol joined BTC.com and Batpool and currently six ‘known’ mining pools are mining the BCH chain, and the ‘unknown’ hashrate is currently mining less than 50 percent of the network which improves security of the blockchain.
Source: news.bitcoin.com

2. John McAfee, famous mostly for his eponymous anti-virus software, was interviewed by Russian television network RT. During the interview, he explained why Bitcoin is not a bubble and forecast that it will continue to grow while fiat currencies value will decrease. What is more, according to him blockchain is the most powerful technology since the invention of agriculture. Do you agree with McAfee?
Source: RT

3. Computer hardware maker Asus has revealed a new motherboard with features geared specifically toward cryptocurrency miners. The new motherboard can support up to 16 GPUs and is powered by 3 24-pin connectors allowing utilization of multiple power supply units. While the product's release date and price aren't known yet, it nonetheless represents the latest signal that the mainstream hardware industry is expanding its cryptocurrency footprint. 2 months ago Taiwanese manufacturer introduced GPUs dedicated for mining based on both AMD and Nvidia chips.
Source: Coindesk

4. Recently there have been many examples of new regulations which cryptocurrency exchanges have to comply if they want to continue operating in the most developed markets. It would seem however that supposed role models – banks fail to meet government requirements. An investigation led by Australian Transaction Reports and Analysis Centre (AUSTRAC) to one of Australia’s major banks, Commonwealth Bank of Australia (CBA), has revealed the deficiencies of the country’s banks regarding compliance with the know-your-customer (KYC) and anti-money laundering (AML) requirements of the law. What is more, Australian Bankers’ Association claimed that the country’s banks are lagging behind their global counterparts in terms of investments in regulatory compliance.
Source: CoinTelegraph

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[DowBit]

Cryptocurrency news – August 23

1. IRS is tracking Bitcoin transactions

2. China exchanges invest users funds

3. 50 Japanese exchanges filed for registration

4. BitMixer admin suggests switching to Monero

1. The Internal Revenue Service is using bitcoin transaction tracing tools developed by startup Chainalysis, according to a new report. The tax agency has been using the startup's software since 201 has paid Chainalysis more than $88,000. According to the IRS "This is necessary to identify and obtain evidence on individuals using bitcoin to either launder money or conceal income as part of tax fraud”. This is not the first time agency deals with BTC – it also wants to obtain Coinbase customer data using similar argumentation.
Source: Coindesk

2. It has come to light that two of China’s largest Bitcoin exchanges, Huobi and OKCoin, have been using idle client funds to make investments in “wealth management products“ which are often high-yielding and risky. Collectively over one billion yuan ($150 million) of client funds was used without permission. People’s Bank of China had been investigating and clamping down on Bitcoin trading in recent months and earlier in the year it issued warnings about Huobi and OKCoin.
Source: CoinTelegraph

3. The Japanese Financial Services Agency (FSA) has revealed that about 50 bitcoin exchanges have filed registration documents with the agency, according to a local publication. They are now being reviewed for compliance. In April, the Japanese government amended its fund settlement law to recognize bitcoin as a legal means of payment, putting the FSA in charge of digital currency. Bitcoin exchanges are then required to register with it until the end of September.
Source: news.bitcoin.com

4. Former BitMixer.io operator recommends people switch to Monero if they want privacy. A growing number of cryptocurrency users are looking for more privacy and anonymity. For the people who have Bitcoin in their portfolio, that is not an easy task – IRS using tracking tools being just one example. Fortunately, there are cryptocurrencies out there that focus on privacy and anonymity and XMR is one of the most established. The BitMixer.io admin feels Monero is the “best privacy currency”.
Source: NewsBTC

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[DowBit]

Cryptocurrency news - August 24

1. SegWit activated – what’s next?

2. Future of Bitcoin and Bitcoin Cash

3. Floyd Mayweather promotes ICO again

4. Russia plans to run national cryptocurrency

1. SegWit has been activated. After many months of debating, various solution proposals and doubts, the highly anticipated improvement has come to life. Does this mean, that average Bitcoin users will experience any benefits? In wide perspective – undoubtedly, however for now they still have to wait.
Source: http://dowbit.com/segwit-opens-new-paths-for-further-bitco…/

2. Thanks to a big increase in the speed of block development and a rather low number of issues, the BCH community very quickly managed to create required 2016 blocks. Another block difficulty adjustment has taken place. Now Bitcoin Cash will be more difficult to mine and less profitable than BTC. Mines temporarily abandoned Bitcoin Cash, leading to a 6 hour block time.
Source: http://dowbit.com/future-of-bitcoin-and-bitcoin-cash/

3. Floyd Mayweather strikes again with another ICO promotion. The boxer a few days before his 50th professional fight, promoted ICO Hubii Network, a blockchain based idea content marketplace. Floyd Mayweather Jr on Instagram and Twitter called himself “Floyd Crypto Mayweather”, making the “CryptoMediaGroup” hashtag extremely popular. Stox – the idea promoted by Mayweather in June, has collected $30 million.
Source: http://dowbit.com/floyd-mayweather-jr-is-promoting-another…/

4. Russian First Deputy Prime Minister, Igor Shuvalov, has announced once again Russian plans to create a national cryptocurrency. During the conversation with local news RBC about the potential creation of “BitRubla”, Shuvalov mentioned, that they are already looking for possible security loopholes. Deputy Minister also highlighted that the introduction of digital currency into the Russian economy wouldn’t endanger its stability.
Source: http://dowbit.com/russia-plans-to-enter-the-cryptocurrency…/

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[DowBit]

Cryptocurrency news – August 28

1. ICOs and Influencer marketing

2. Russia to ban digital currency trades

3. Bitpay supports SegWit2x

4. Litecoin reaching milestones

1. Recently, two ICOs promoted by the boxing star – Floyd Mayweather were quite a hot topic. Apparently, those promotions weren’t accidental, as the latest Hubii Network’s campaign was supported by Crypto Media Group. The main objective of CMG was to get celebrities to promote new ICOs. It looks like, influencer marketing will be playing an increasingly significant role in the cryptocurrency market.
More: http://dowbit.com/icos-and-influencer-marketing/

2. Four days ago we wrote about development of cryptocurrencies in Russia, however today the Deputy Finance Minister – Alexey Moiseev, calmed down all the enthusiasm. In the interview for local TV – Rossiya 24, Moiseev said, it is hard to deny that cryptocurrencies are a pyramid scheme. Therefore Russian government plans to forbid digital currency trades in the nearest future.
More: http://dowbit.com/unstable-future-of-cryptocurrencies-in-r…/

3. Bitpay – a Bitcoin payment processing platform – has announced that it will support SegWit2x. In a statement, BitPay declares that it wants to stay synchronized with the Bitcoin mainstream. Basing on the cues given by miners, changes made in SegWit2x indicate an enlargement of blocks.
BitPay reaffirms its readiness for the changes and reassures security and consistency of transactions. The network must be efficient and easy to use – therefore, BitPay wants to stay consistent with the majority of the chain.
More: http://dowbit.com/bitpay-following-majority-after-segwit2x…/

4. The creator of this cryptocurrency – Charlie Lee names Litecoin’s latest results as milestones. It is because this cryptocurrency has reached $60 for the first time ever, and the market capitalization equaled over 3 billion USD. An observation over the span of 12 months shows an uncommon appreciation of 1300%. However Litecoin at the beginning of September 2016 cost $3,75, and a year after we can see the price of around $60.
More: http://dowbit.com/litecoin-reaching-milestones/

You can find more information in my web page - http://dowbit.com/

See you tomorrow!

[DowBit]

Cryptocurrency news – August 29

1. Bitcoin payments in Uber?

2. Gazprom discussing with miners

3. Venezuelans make their living by crypto mining

4. “Ghosts month” to blame for reduced investors activity?

1. As reported by Bloomberg, Uber Technologies Inc has chosen CEO of Expedia Inc, Dara Khosrowshahi as their new CEO. Khosrowshahi started his work as a CEO of Expedia in August of 2015, helping the company to enter a new market in over 60 countries worldwide. He was was the one to introduce Bitcoin payments to the Expedia platform. Will Uber become another company accepting Bitcoin payments?
More: http://dowbit.com/uber-may-welcome-bitcoin/

2. As Russian government’s views regarding cryptocurrencies keep changing, the largest power plants in the country started to provide energy to Bitcoin miners. Daily Storm reports, that the largest Russian power providers, Gazprom and EuroSibEnergo, are discussing with a group of miners. It is supposed to be a way to obtain a cheap source of energy, which will provide a competitive advantage for Russian Bitcoin miners.
More: http://dowbit.com/russian-miners-to-gain-competitive-advan…/

3. An increasing number of Venezuelans decide to mine cryptocurrencies to make their living. The hyperinflation in Venezuela suddenly started to increase at the end of August and locals are having issues with fulfilling their basic needs. Another reason for the increased interest in mining is the very low cost of power. Based on various reports it can be deduced that a Bitcoin miner in Venezuela having multiple mining computers, can earn up to $500 a month.
More: http://dowbit.com/venezuelans-mining-bitcoin/

4. Virtual currencies such as NEO, OmiseGo or TenX have recently noted a significant reduction in traffic in comparison with the previous periods of time. It is commonly thought to be a „Ghosts Month” in countries that most of the investors come from. In the year 2017, the „Ghosts Month” takes place between the 22nd of August and the 19th of September. Countries that are affected are China, which is the base market of NEO, Japan, which is the headquarters of OmiseGo, and Singapore, where TenX originates out of. People in these countries believe that this is an especially unfavorable time for investments.
More: http://dowbit.com/hungry-ghosts-cause-of-stagnation-on-asi…/


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