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Breadwallet Moves to Switzerland, Acquires $7 Million in Investment Funding

2 hours 27 min ago

Breadwallet recently announced they would be moving their headquarters to Switzerland. This relocation comes alongside news that the company just closed a $7 million venture funding round. The firm decided to change locations for the purposes of growing the business and adding new features to their native wallet application. 

Also readSearch Volumes for Bitcoin and Ethereum Enter Inverse Correlation

Why did Investment Firms Choose Breadwallet?

The company has many large investors that trust in their vision, and therefore have helped fund their future goals. These investors include, DAS Capital, East Ventures, Globe Advisors, Liberty City Ventures, Maffin Inc., OKWAVE, and Saison Ventures. This list does not include private investors, family offices, or other funds around the world.

Shinji Kimura of DAS Capital provided his thoughts on why they decided to fund the firm. He said, “we are investing in Breadwallet due to its unique business model and forward thinking strategy. We believe that digital currency will become increasingly influential as the industry continues its rapid expansion, and Breadwallet is well-positioned to be a dominant leader in the space.”

Why the move to Switzerland?

This funding also aids their plan in changing offices from San Francisco to Switzerland. Breadwallet’s CEO elaborated on why they decided to relocate. He said:

Switzerland has emerged as a hotbed of digital currency startup activity, and we were attracted by its leadership in conservative financial legislation. Its strong reputation for financial privacy for consumers is the ideal fit for our charter to empower individuals with the benefits of bitcoin.

Breadwallet will use the Funds to Upgrade the Application and Market Their Products

According to the company press release, the investment funds will be used by Breadwallet to expand its operations and create newer features. This will help widen the scope of Bread’s adoption rates across the globe. It will also provide customers with an even cleaner user experience, bringing more people on board from the Android ecosystem.

The firm hopes the larger impact of their funding will also broaden their new marketing campaign. It appears they will try to gain a further reach as bitcoin continues to climb and gain more widespread appeal for its retail applications. In this regard, Breadwallet could grow significantly as a result of this pivot.

Do you think Breadwallet will thrive in Switzerland? What is the company going to create with all their investment money? Share your thoughts in the comments section below!

Images courtesy of Shutterstock, Breadwallet, and Postebit

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The post Breadwallet Moves to Switzerland, Acquires $7 Million in Investment Funding appeared first on Bitcoin News.

Italian Authority Fines Onecoin Promoters 2.6 Million Euros

5 hours 27 min ago

Onecoin promoters have been fined 2.6 million euros in Italy after the country’s antitrust authority found them engaging in a pyramid scheme and misleading promotions. The fines follow the authority’s previous suspensions of Onecoin activities, which have failed to stop its promotion in the country.

Also read: Bafin Issues Cease and Desist Orders to Ban Onecoin Activities in Germany

Onecoin Promoters Fined Millions of Euros

The Italian Competition Authority known as L’Autorità Garante della Concorrenza e del Mercato (AGCM) in Italian has fined several Onecoin promoters a total of €2,595,000 for running pyramid sales and for using misleading promotional methods. The Competition Authority is a quasi-autonomous, non-governmental organization financed by the Ministry of Economic Development. It is in charge of enforcing both Italian and European consumer protection laws. They wrote:

After the investigations, the Authority imposes sanctions against One Life Network Ltd (€ 2.000.000), One Network Services Ltd (€ 500.000), Easy Life Srl (€ 80.000), as well as the registrants of websites Onecoinsuedtirol.it, Onecoinitaliaofficial.it, Onecoinitalia.com (€ 5.000 each).

Pyramid Scheme and Misleading Information

The AGCM found that the methods used by One Life Network to promote the sale of Onecoin and its related training packages provide misleading information to consumers about the nature of the product and its pyramid scheme.

Consumers were misled into believing that after acquiring a training package, they could obtain “Onecoin cryptocurrency” which would substantially increase in value, the AGCM detailed. “For example, the purchase of the €27.530 package would have allowed a €3.000.000 equivalent after just two years of joining the program.” The authority also described how “recruitment of new consumers was the sole purpose of sales activity and was strongly encouraged by the recognition of various bonuses, the only real and effective remuneration of the program.”

A day after the ACGM’s announcement, Onecoin issued a response. Among other clarifications, the organization denied the pyramid sales allegations, its involvement with Easy Life Srl and the aforementioned domains, as well as the authority’s understanding of its business model.

Previous Suspensions Ineffective

In December 2016, the AGCM suspended the promotion of Onecoin by One Network Services Ltd as well as the registrants of two Onecoin-related domains.

Then in February of this year, the authority suspended the promotion of Onecoin by One Life Network and Easy Life Srl. At that time, only Easy Life Srl had reported that it had stopped the practice.

After the suspensions, Onecoin promoters have maintained that their system is “absolutely legal” and in compliance with European and national legislation. In addition, they continued to host meetings to promote and sell Onecoin. One Life Network, which is responsible for the sale of Onecoin in Italy, “continues unabated in its activities,” Wall Street Italia wrote, adding that “the authority therefore adopted a new approach of imposing a financial penalty.”

Do you think the fines will deter Onecoin promoters from operating in Italy? Let us know in the comments section below.

Images courtesy of Shutterstock, Pixabay, Onecoin, ACGM

Need to calculate your bitcoin holdings? Check our tools section.

The post Italian Authority Fines Onecoin Promoters 2.6 Million Euros appeared first on Bitcoin News.

PR: CarTaxi – The “Uber” of Car Towing – an Ethereum Based Platform, Becoming the 1-St Worldwide Towing Aggregator

5 hours 57 min ago

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

While the world is idling by, blockchain is coming to the motor vehicle towing market. Blockchain developers recently created and launched their new project – CarTaxi – the first global service for towing vehicles based on blockchain. It’s a platform that brings together all car towing companies and is already revolutionizing this market. The project successfully operates on local markets and is active in more than 15 cities. A goal achieved in only 2 months from initial launch! As the global platform nears launch, CarTaxi is organizing a Pre-ICO campaign set to go live on August 30, 2017.

What drives the project forward
The world market capacity of towing service estimates more than 26 bln. USD. With more private and commercial vehicles hitting the roads, the need for efficient towing services arises due to vehicular breakdown, motor accidents, improper/illegal parking, impounding, etc. It will become a priority to ensure obstruction-free traffic, enforcement of law and order, and even the convenience of vehicle owners.

By using blockchain and cross-platform programs, CarTaxi has created a network of registered and licensed car towing service providers. This project has made major breakthroughs in the quality of the service provided for corporate and private clients. CarTaxi introduces accountability to an industry which is mostly fragmented. It provides easy access to the right towing company at the time of need. The platform’s application makes towing service accessible with a single touch of a button on any smartphone.
This blockchain based service has over 1500 registered car towing companies.
With the blockchain implementation, CarTaxi gains an advantage over traditional aggregators, enabling global expansion in no time. It uses blockchain technology based on Ethereum and expedites payment transactions between car towing service providers and tokenholders which altogether provides transparency in the oversite of company activity.

Smart contracts provide interfaces for operating business processes, starting from registering a new client and getting a new towing service provider connected to successfully completing a client’s order and settling payments with service providers and investors. With every new order the smart contract records the client’s coordinates, vehicle parameters and estimated time of arrival of a tow truck.

If a car towing company does not reach its destination within the estimated time – it will be subject to penalties. The car towing service provider checks the order details and conducts an inspection for vehicle damage. If the details don’t match, the smart contract does not allow to proceed to the next step – loading the vehicle. When the order is completed, the program analyzes the final parameters and automatically pays the towing company.

Smart contracts include basic mechanisms of DAO: tokenholders vote on dispersing company revenue. Control over order fulfilment is especially important because the company plans to provide services for vehicle transportation over large distances, between cities and countries, in difficult logistical scenarios.

The upcoming Pre-ICO on August 30, 2017, will go on until September 19, 2017, which will be followed by the official ICO campaign set to begin on September 29, 2017 until October 29, 2017. CarTaxi has set a total cap of 500 million CTX, of which 12.5 million will be available in pre-sale and rest at the time of ICO. During pre-sale investors can purchase CarTaxi tokens with a 45% bonus.

The proceeds from token offering will be invested in further development of CarTaxi’s service. CarTaxi has scheduled blockchain activation during Q4 2017, followed by its expansion into USA and China in 2018 and Europe in 2019. With the opening of representative offices in India and South America, the platform will be available worldwide by 2021.

About CarTaxi
CarTaxi is an Ethereum blockchain based decentralized platform that connects all car towing companies into one online network. It allows customers to transport their vehicles quickly, efficiently and safely anytime, anywhere.

Press Contact Email Address
japheth@cartaxi.io
Supporting Link
https://cartaxi.io

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: CarTaxi – The “Uber” of Car Towing – an Ethereum Based Platform, Becoming the 1-St Worldwide Towing Aggregator appeared first on Bitcoin News.

Trezor Calls an Article That Claims to Break Bitcoin Hardware Wallets “FUD”

6 hours 53 min ago

This past June news.Bitcoin.com reported on a demonstration that took place at the world famous hacker conference in Las Vegas, Def Con 25, which claimed to show the audience how to break a bitcoin hardware wallet. Now according to a recent blog post, the presentation revealed to attendees found glitches in a Trezor that revealed a user’s private keys.

Also read: Bitcoin Cash 8MB Block Clears Over 37,000 Transactions

Trezor Reveals New Firmware for a Remote Execution Attack Vulnerability  

Hardware wallet owners got shook up this week when the company Satoshi Labs published a “Firmware Security Update” which stated a vulnerability was found which affected all models. However, the blog post was rather cryptic and stated the security issue was brought to the startup’s attention through “responsible disclosure.” The firmware is optional says the announcement, but the company recommends all users update their devices. Further, the vulnerability can only be executed if an attacker has possession of the hardware wallet and time to disassemble the Trezor.

“It is important to note that this is not a remote execution attack,” explains the Trezor manufacturer Satoshi Labs. “To exploit this issue, an attacker would need physical access to a disassembled Trezor device with uncovered electronics. It is impossible to do this without destroying the plastic case.”

If your device does not leave your presence, your coins are safe. Moreover, if you have a passphrase enabled and actively use it, your coins are safe. Yet, we strongly recommend you to update your Trezor anyway.

An Alleged ‘Fifteen Second Hack’ Reveals Private Keys With No PIN Necessary

Following the announcement from Satoshi Labs, a report posted to Medium gives full details to how a Trezor can be exploited. The author explains that the Def Con 25 demonstration revealed that these attacks are possible because “Trezor is using non-secure chips made by STMicroelectronics.” The post details that this hack is so easy it can be done in 15 seconds, and if your device is stolen attackers have ample time to empty the hardware wallet.

The ST32F05 chip.

“There is absolutely nothing that Trezor can do about it,” explains the Medium post. “They can’t replace all existing hardware. And the really bad news is that this also applies to Keepkey and to the upcoming Trezor v2 — it also uses similar STMicroelectronics chip!”

Is the ST32F05 vulnerable to fault injection? Absolutely, yes! — that’s the answer we got at Def Con 25. So, the ST32F05 chip is really doomed.

The post then describes a detailed walkthrough with pictures of how a Trezor can be attacked. The demonstration sets up a new device and creates a longer nine digit PIN, but the author details there is “no need to remember the PIN anyway.” Then the attacker shuts the device down and “simply connects two pins inside the Trezor device at the right time”, or to make it a lot easier they can disassemble the device but “no disassembly is required.” When this is done a scan, using firmware they created and that can be found in the post, reveals a Trezor’s entire seed phrase, the PIN, and the name of the device.

The attacker’s screenshot of an alleged attack that shows the device name, PIN, and 24-word seed. Satoshi Labs: ‘This Attack Vector Was Fixed in Firmware 1.5.2 — We Are Inclined to Call This Article FUD’ Satoshi Labs CEO Marek Palatinus (Slush) calling the article “FUD.”

The author of the post explains that as soon as a hardware wallet is connected to a power source, without entering the PIN, the device firmware loads up its SRAMN with the device’s private key data. “Even more troublesome is the fact that during the firmware update, the bootloader is doing exactly the same thing! This goes against all security best practices that we know about,” explains the post.

Trezor has announced that its latest firmware 1.5.2 removes the vulnerability and believes the article published is primarily the spreading of fear, uncertainty, and doubt (FUD). An employee of Trezor, called, ‘Xbach,’ who often gives people support on Reddit confirmed the post was a bit exaggerated.

“This attack vector was fixed in firmware 1.5.2,” explains the Trezor employee Xbach. “The claims in the post are not 100% correct. While it is true that this vulnerability affects devices with firmware versions earlier than 1.5.2, it was fixed in the latest update. Moreover, an attacker would need more than 15 seconds: they need to be physically present and a special firmware.”

We will go into depth in a report, which we will release later. As of this moment, we are inclined to call this article FUD. The fact that one needs to pay for source does not increase its credibility.

‘An Odd Way of Releasing an Alleged Hack’

Trezor’s official Twitter page also states that the news is “FUD,” alongside Satoshi Lab’s CEO & IT Architect, Marek Palatinus (Slush). The company’s representative, Xbach says the post was an “odd way how to release an alleged hack.” Further, he states the post skips much of the attack process and also mentions “Def Con, which is unrelated to this vulnerability,” explains Xbach.    

“If there is really such a hack, then they could have contacted us, we have Responsible Disclosure and a reward system,” adds the Trezor representative.

What do you think about the alleged hack that accesses hardware wallet private keys? Let us know what you think in the comments below.

Images via Shutterstock, Medium, and Twitter. 

Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

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Blockchain Wallet Adds the Ability to Exchange and Store Ethereum

8 hours 21 min ago

On August 17 the popular bitcoin wallet platform, Blockchain, has announced it will be adding support for another digital currency. The Blockchain startup revealed to news.Bitcoin.com the platform would be adding ethereum functionality to its popular consumer wallet.

Also read: Goldman Sachs Technical Analyst Predicts Bitcoin’s ‘Top’ Is $4800

Blockchain Wallet Adds Ethereum Functionality

The startup Blockchain is one of the oldest bitcoin service providers in the industry, founded in 2011. The company has provided over 16 million wallets for bitcoiners across 140 countries.

Now the firm is adding ethereum to its popular consumer wallet, and users will be able to exchange between both bitcoin and ether through a partnership with Shapeshift. With the addition of ether, the company wants customers to explore a different digital asset while remaining comfortable with the Blockchain wallet security.        

“As popularity of Ethereum has grown, so has the desire from our customers to have the option to manage multiple digital assets within their Blockchain wallets,” explains Peter Smith, CEO of Blockchain.  

We are thrilled to introduce this new functionality to our community and will continue to find ways to make interacting with digital assets even easier.

Blockchain wallet user interface allows ether and bitcoin exchange through Shapeshift. ‘Toggling Between Bitcoin and Ether in a Simple Manner’

The company Blockchain believes multiple accounts can be “a challenge for consumers,” but says its platform’s dashboard management is easy. Blockchain wallets have always been non-custodial which gives customers the ability to hold their own private keys. The firm says with the latest ethereum integration, the platform offers a “consistent product experience with a centralized dashboard with flexible tools for all users.” 

Further, Blockchain wallet users will be able to toggle between bitcoin and ether in a simple manner inside the wallet, says the Luxembourg based company. The ability to swap cryptocurrencies will be provided by the Shapeshift API “so trading bitcoin to ether and vice versa can happen all from one place.”

What do you think about Blockchain Wallet adding ethereum functionality? Let us know in the comments below.

Images via Blockchain

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Former paypal COO David Sacks Discusses Bitcoin – Argues ICOs Are Threat to VCs

9 hours 58 min ago

Former paypal COO, David Sacks, discussed bitcoin and cryptocurrency during a recent interview with CNBC. During the interview, Sacks articulated that bitcoin is fulfilling the vision for a digital payment network originally held by Paypal, and expressed his belief that cryptocurrencies pose a significant threat to the venture capital sector.

Also Read: 20+ New ICOs Announced Despite SEC Warnings

Bitcoin and Cryptocurrency Are “Maximizing the Efficiency of Every Asset, Means of Ownership, Fluidity of Markets, and Mechanism of Payments” – David Sacks

Silicon Valley veteran, David Sacks, discussed bitcoin and cryptocurrency at length during a recent CNBC interview. David Sacks is the former Paypal COO, founder of Yammer, and early investor into Facebook, Uber, and Airbnb.

Sacks describes “bitcoin [as] fulfilling PayPal’s original vision to create ‘the new world currency’.” For sacks, Paypal’s belief was to get “enough people to participate” so that “money would never need to leave the system. PayPal could become the database of money.” As with bitcoin today, Paypal “added features like interest and debit cards so you’d never have to withdraw funds to the legacy banking system.” Sacks states that “cryptocurrencies like bitcoin are now fulfilling that original vision. They are doing it in a decentralized way… whereas PayPal tried to do it in a centralized way.”

Sacks recently described bitcoin and cryptocurrency as potentially comprising ‘Web 3.0’ via Twitter. Addressing the comment, Sack told CNBC that “it feels like we are witnessing the birth of a new kind of web… Ultimately this is a technology for maximizing the efficiency of every asset, means of ownership, fluidity of markets, and mechanism of payments. The goal is the optimization and maximization of the world economy. That may make it the biggest revolution of all.”

For Sacks, many within the United States underestimate the value of bitcoin’s utility due to relative stability and success of American financial institutions when compared with states possessing underdeveloped economic structures. “People in the U.S. — and especially longtime participants in the U.S. financial system — have tended to underestimate bitcoin because we have long enjoyed relatively stable political and financial systems. People in parts of the world with less trusted systems have gotten it sooner because almost anything would be preferable to having their life’s work trapped in a fiat currency that could collapse or be confiscated at any moment.”

“The Terms of Crypto Capital Are More Favorable to Entrepreneurs Than Venture Capital” – David Sacks

Sacks also addressed the growing Initial Coin Offering (ICO) industry, and the likely ramifications that increased ICO regulations may have upon cryptocurrency. Regarding ICOs, Sacks believes that “the trigger for a big correction is more likely to be regulatory than technical,” adding “hopefully it will be a soft landing rather than a nuclear winter.”

For Sacks, the future success or failure of the ICO industry may depend upon if the “SEC is able to distinguish between “‘protocol coins’ (which have an actual use in a software ecosystem and should not be viewed as securities) and ‘asset coins’ (which are securities).” If the SEC makes an appropriate determination, Sacks believes that increased regulation “could be a positive thing if all the scammers and pumpers get washed out of the space…. Many of these ICOs are still just slideware.”

Sacks views ICOs as a direct threat to the current venture capital (VC) business model, stating that “a lot of start-ups that would have sought venture capital can now raise money through an ICO… The terms of crypto capital are more favorable to entrepreneurs than venture capital… All of this being said, the SEC’s rulings in this area will have a huge impact on how this plays out. If those rulings support innovation, that will lead to a more competitive world for VCs.”

Do you think that ICOs pose a threat to the current business model employed by venture capitalist firms? Share your thoughts in the comments section below!

Images courtesy of Shutterstock and Wikipedia

Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a store. And a forum. And a casino, a pool and real-time price statistics.

The post Former paypal COO David Sacks Discusses Bitcoin – Argues ICOs Are Threat to VCs appeared first on Bitcoin News.

PR: Universa Expects to Raise Over $100 Million in the Upcoming ICO

13 hours 57 min ago

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

At the Crypto Bazar forum focusing on developing and regulating the crypto-currency market in Russia, the creator of the Universa platform Alexander Borodich, who is the former top manager of the largest Russian IT company Mail.ru Group and now the head of the Venture Club venture fund, announced the plan to attract over $100 million during the new ICO.

Universa is expected to make a rival to such financially successful projects as Tezos ($230 million) and EOS ($200 million). According to Borodich, the founding of Universa can be compared to the revolution in trade, after the advent of paper money, or the Internet, after the appearance of HTTP.

“The dependence of blockchain on mining process and its high expenses resembles the dependence of gold coins on the price of gold,” says Borodich. “Universa offers an easy and cheap way to produce smart contracts or smart banknotes – sort of a capsule with an emitter’s payment obligation.”

The Universa unique feature is a thin protocol and a fat client, unlike Ethereum, which uses a fat protocol. Each vendor, supplier, or market player will be able to provide their own local service within Universa, independent of the others, and to perform payment transactions in any tokens or currencies.

Borodich considers important that Universa does not act as a cryptocurrency provider. Universa provides a blockchain technology and interface for creating smart contracts and applications based on the Universa blockchain, where Universa smart contracts can be applied in the same way as a car “smart key,” in the car-sharing services, hotel business, entertainment centers, SPA, “smart houses,” at gas stations, toll roads, and parking lots.
Borodich gave an example of applying Universa in the cargo delivery business: “The label on the RFID system (the method of automatic object identification, which uses radio signals to read or write data) equipped “smart seals” is recognized by the terminal, and the user receives the cargo description, as well as any necessary details. To accomplish this, one only needs a Smartphone with a Universa blockchain mobile node.”

Universa presents many advantages in comparison with its competitors: Universa’s speed accounts for 10,000 transactions per second, while in Etherium, the number is 15, and in Bitcoin – from three to six. In addition, transactions in Universa are ten times cheaper and do not depend on mining.

The Universa ICO start will be announced in the near future. You can follow the project news on http://universa.io, or at the official group Facebook.

The experts at the forum mentioned Russian projects being popular with investors and noted the fact that the capitalization of the cryptocurrency market crossed the $95 billion mark. Thus, MobileGO ($53 million), SONM ($35 million), Polibius ($ 31million), Waves ($16 million) raised tens of millions of dollars in a couple of months. Along with the crypto-investors and founders of ICO-projects, the speakers at the Forum included the Russian State Duma representatives and the heads of the industry specific sectors at Russian leading banks.

Press Contact Email Address
ico@artox-media.com
Supporting Link
https://universa.io/

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: Universa Expects to Raise Over $100 Million in the Upcoming ICO appeared first on Bitcoin News.

Japanese Exchange Debuts Bitcoin Corporate Bond

14 hours 28 min ago

Japanese bitcoin exchange Fisco announced that it has issued Japan’s first bitcoin-denominated corporate bond to test the instrument’s potential to become a useful fundraising tool.

Also read: Bitcoin ETF Filed with SEC by Leading Gold Fund Manager Vaneck

Japan’s First Bitcoin Corporate Bond

The Tokyo-based financial information provider Fisco Ltd announced this week that it has issued Japan’s first bitcoin-denominated, unsecured corporate bond. The three-year bond worth 200 bitcoins was issued to another firm in the group on August 10 as an experiment to test the bond’s potential to become a useful fundraising tool.

Fisco Ltd was founded in 1995 and is listed on Jasdaq. The company launched a bitcoin exchange in April 2016, called the Fisco Cryptocurrency Exchange, which is the bond’s issuer. The bond pays a 3 percent coupon and gives the holder 200 bitcoins back when it matures on August 10, 2022.

This bond was structured to have similar properties to corporate bonds. Masayuki Tashiro, the company’s chief product officer, explained, as reported by Bloomberg:

Fisco designed the bond like a regular corporate note so it could satisfy regulatory requirements.

However, the legal status of Fisco’s bitcoin bond is unclear, according to Nikkei. “Under the corporate law, bonds issued in money such as yen and dollars are defined as corporate bonds,” the publication explained. However, according to Fisco, bitcoins are not corporate bonds under the corporate law, and also not money under the company law, the publication noted. Furthermore, Fisco claims that they “will not be the securities stipulated by the Financial Instruments and Exchange Act.”

Fisco Expects Demand for Crypto Bonds to Grow

In April, the Japanese government legalized cryptocurrencies as a form of payment. In July, bitcoin purchases became exempt from the nation’s 8 percent sales tax, “putting them on similar footing with financial products like stocks and bonds,” wrote Bloomberg.

Fisco’s experiment “is another example of how companies and investors worldwide are looking for ways to make money out of bitcoin,” the publication added.

The exchange says it expects the digital currency market to grow and is, therefore, testing new possibilities of products and services based on them. “We expect that bitcoin will eventually be recognized as a financial product” under Japanese financial laws, Tashiro said. He added that Fisco could “play a role of arranger” and earn fees if cryptocurrency debt instruments take off.

Do you think bitcoin-denominated corporate bonds will take off? Let us know in the comments section below.

Images courtesy of Shutterstock and Fisco Ltd

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The post Japanese Exchange Debuts Bitcoin Corporate Bond appeared first on Bitcoin News.

Washington Politicians Defend Regulations as Cryptocurrency Exchanges Flee

14 hours 57 min ago

Washington regulators recently introduced exchange rules for any firm wanting to allow customers to trade in cryptocurrency. They said they created Senate Bill 5031 to make the ecosystem fair for cryptocurrency exchanges and their customers. However, a number of exchanges have left the area, because they believe the rules were too burdensome. Now Washington lawmakers are defending the bill on the grounds that it helps the exchanges and their clientele. 

Also read: Bitcoin Cash 8MB Block Clears Over 37,000 Transactions

Bitstamp logo

Poloniex, Bitstamp, Kraken, and Bitfinex are a few of the exchanges that left the area after Washington announced its regulatory requirements in July. Each company provided their reasoning why they stopped servicing Washington area customers.

Bitstamp wrote a letter to its customers back in 2016, saying, “After long and careful deliberation, we are sorry to inform you that due to recent regulatory constraints imposed by the State of Washington, Bitstamp will cease to serve customers from The Evergreen State, effective 20th December 2016.”

Bureaucrats Claim Bill is Good

Charlie Clark, deputy director of the state’s Department of Financial Institutions and director of the authority’s division of consumer services, did not comment on the specific companies that left. He did suggest the restraints were not imposing or negative, though. He mentioned State financial regulators spent months preparing and detailing the bills.

A Payment Compliance article quoted Clark. He said,

The phone calls and conversations were part of an effort to strike a balance between protecting consumers and not heaping onerous and unnecessary regulations on virtual currency start-ups

Clark just wanted businesses to understand that their goal was not to punish new tech businesses, but to protect customers and help startups gain compliance. He did not mention the amount of digital currency firms who are not in compliance or which ones left.

Bitcoin Exchanges Licensed in Washington; Specific Requirements for Operating

Despite this exodus of exchange firms, several remained and decided to apply for licenses. According to Payment Compliance, there are 7 cryptocurrency or blockchain startups licensed by the department of financial services. 5 more have applied for a new license. Furthermore, news.Bitcoin.com recently reported that Gemini had applied for a license and was granted approval to conduct business in the State.

Even though these companies decided to stay, they still have quite a burden to fulfill to gain compliance in the State. A Payment Compliance article elaborated on their burden:

Money transmitters must take out a surety bond based on the dollar volume handled the previous year, ranging from $10,000 to $550,000, with anywhere from $10,000 to $50,000 required for money exchangers.

These companies must also submit to third party audits of their systems, and they must provide additional information to their clientele. Overall, obtaining a license for companies in the state is a time consuming and pricey process to undergo.

Do you think Washington’s regulations are too burdensome? Are regulations necessary? Let us know your opinions in the comments below.

Images via Shutterstock and Bitstamp/Twitter

Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

The post Washington Politicians Defend Regulations as Cryptocurrency Exchanges Flee appeared first on Bitcoin News.

Crypto Exchange Shapeshift Acquires Hardware Wallet Keepkey

19 hours 5 min ago

On August 16 the Switzerland-based digital asset exchange, Shapeshift AG, has announced the firm has acquired the cryptocurrency hardware wallet manufacturer Keepkey.   

Also read: Goldman Sachs Technical Analyst Predicts Bitcoin’s ‘Top’ Is $4800

Shapeshift AG Acquires the Cryptocurrency Hardware Wallet Company Keepkey

This week the Seattle-based startup and digital asset hardware wallet creators, Keepkey, were acquired in an “all cash deal” by the multi-currency trading platform Shapeshift. Last year the hardware wallet company announced Shapeshift integration, which allowed Keepkey users to exchange cryptocurrencies without exposing their private keys online. Shapeshift says trading these assets directly over the ShapeShift API from the device’s interface, allows the company to focus on ease of use and security at the same time.

“Security is of critical importance when it comes to holding and trading digital assets,” explained Erik Voorhees, CEO of Shapeshift. “One of our priorities has always been to make the exchange experience as safe and easy for users as possible, and our pairing with KeepKey enables us to provide an unmatched customer experience.”

Users can hold their coins on the hardware device and exchange them on demand within the wallet, without even visiting a website. When you pair the KeepKey hardware wallet with ShapeShift’s exchange, the experience is magical.

“We see a future in which keys are kept on hardware, and non-custodial exchange occurs directly from the hardware,” explains Erik Voorhees. A Non-Custodial Exchange Paired With Hardware Wallet Security

Shapeshift has made a name for itself over the years by integrating its API with nearly 50 blockchain companies, and wallet providers. Keepkey is the first hardware device to offer Shapeshift trading from within the user interface. The Swiss-based company says they will continue Keepkey distribution and aim to provide “the most secure storage wallet available with native support for trading all leading digital assets.”

Voorhees explains that the Keepkey brand and product line will remain the same, and expects the device to do well for the company as hardware wallets are currently in high demand. “Amid heightened interest in the concept of digital currencies, a simple, user-friendly cold storage wallet with native exchange functionality is one key to wider adoption,” said Voorhees.

Shapeshift thinks consumers will appreciate the tethered partnership between Shapeshift’s trustless exchange and hardware wallet security.

“With Shapeshift, users don’t need to leave funds on an exchange. With KeepKey, users don’t need to leave funds on any computer whatsoever. We see a future in which keys are kept on hardware, and non-custodial exchange occurs directly from the hardware,” Voorhees added.

What do you think about Shapeshift’s acquisition of Keepkey? Let us know your thoughts in the comments below.

Images via Shutterstock, Shapeshift AG, and Keepkey.

Show the world how cutting-edge you are with a bitcoin T-shirt, hoodie, bag, key-ring, even a Trezor hardware wallet. Shipping all over the world, quality merchandise and, of course, a payment system that makes people say “wow!”

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PR: DetectorToken Announces ICO for their Blockchain Based Bot

Wed, 08/16/2017 - 21:00

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

If you are an avid user of cryptocurrencies who regularly trades various currencies through exchanges, you would understand the importance of staying up-to-date with the latest market trends and information about cryptocurrencies.

Particularly in today’s world of cryptocurrencies where high volatility exists, it is essential that traders share their insights and collaborate with one another to better analyse the market and benefit from trading/investing.

There is a bot which has automated the process of guiding new investors to profit by trading. This bot is called the ‘DETECTOR bot’ and it provides reliable market information towards its users to allow them to stay up-to-date and be informed about the latest market trends and moves.

Users can choose their own investment options when using the ‘DETECTOR bot’. The bot provides options such as investing on your own, following investment strategies of experienced traders, and letting the bot make investment decisions based on the accumulated information. Users can switch from one investment option to the other easily and profit accordingly.

The development team behind this free-to-use bot will be launching an ICO for the purpose of securing development funds. This development – if ICO ends successfully – will assist in the creation of a fully automated bot which sends signals to customers to guide their investment decisions by telling them what and when to buy. Once the ICO ends, the bot will be serviced under subscriptions, helping investors earn from the subscriptions made by prospects.

Below are the ICO details as stated on their whitepaper:

Name: DETECTOR Token
Ticker: DTCT
Supply: 12,000,000
Ethereum Based Tokens
ICO Start: August 20, 2017 00:00 UTC
ICO End: September 20, 2017 00:00 UTC
ICO Tokens: 10,000,000
Accepting: ETH
Exchange Rate: 700 DTCT – 1 ETH
Website URL: https://detectortoken.com

Learn more about DETECTOR bot, DETECTOR token, and the ICO through their whitepaper:
https://detectortoken.com/docs/DetectorToken_White_Paper.pdf

Press Contact Email Address
office@detectortoken.com
Supporting Link
https://detectortoken.com

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: DetectorToken Announces ICO for their Blockchain Based Bot appeared first on Bitcoin News.

Search Volumes for Bitcoin and Ethereum Enter Inverse Correlation

Wed, 08/16/2017 - 16:25

The volume of Google searches for bitcoin and ethereum appear to be inversely correlated during August – with bitcoin queries generating new all time highs whilst ethereum searches have declined. This search data reflects overall market trends, with bitcoin comprising an increasingly dominant share of all cryptocurrency market capitalizations.

Also Read: Russia Discusses Starting Cryptocurrency Mining With Its 20 Gigawatt Surplus

Google Searches for Bitcoin Are Making New Highs

Google searches for the term ‘bitcoin’ have reached all time highs this month. The influx of searches coincides with a decline in queries for ‘ethereum’, reversing months of relative correlation between searches for both bitcoin and ethereum. Fluctuations in the volume of search queries for ‘bitcoin’ and related terms are viewed by many traders as a barometer of market sentiment from outside of seasoned cryptocurrency market participants.

In addition to bitcoin’s continual establishment of new all time price highs, many are attributing the influx of search volume to the recent resolution of bitcoin’s scaling debate, and alleviation of fears pertaining to a hard fork. The soft fork comprised the resolution of bitcoin’s most significant fundamental uncertainty, reaffirming its status as the leading cryptocurrency project.

Searches for Ethereum Appear to Be Inversely Correlated With Bitcoin

The decline in searches for ‘ethereum’ has likely been a consequence of several factors – including bitcoin’s domination of cryptocurrency-related media coverage, recent hacks sustained by the ethereum network serving to deter the interest of individuals outside of the cryptocurrency sphere, and the failure of the highly anticipated ‘flippening’ event (Ethereum overtaking Bitcoin in market cap). The decline in search volume also comes following several months of record breaking search volume, rendering the likelihood of an impending reduction in search traffic very high.

The inverse correlation regarding ‘bitcoin’ and ‘ethereum’ search traffic appears to be occurring in unison with a resurgence in the total share of all cryptocurrency market capitalization that is attributed to bitcoin, with come analysts inferring that the spike in search volume merely comprises an accurate reflection of changing market dynamics.

Do you think that Google search trends can comprise an accurate representation of dynamics within the bitcoin and ethereum markets? Share your thoughts in the comments section below!

Images courtesy of Shutterstock

Need to calculate your bitcoin holdings? Check our tools section.

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PR: MAGOS – Edge-seeking Oracle

Wed, 08/16/2017 - 13:00

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

MAGOS to launch fund managed by AI that can predict future events with high accuracy

Artificial Intelligence (AI) is bound to transform the world we live in, as some believe that in the future we won’t even have to work anymore, as production will be at an all-time high thanks to AI agents. Although that may still be far away, AI has already managed to do some amazing things, such as spotting cancer in tissue slides better than humans, anticipate fraudulent payment attacks before they occur, trade stocks, and even flag errors in legal documents.

For example, OpenAI recently set out to test its AI by creating a Dota 2 bot. Dota 2 is an extremely complex game with thousands of possible tricks – from faking attacks to force opponents to dodge, to predicting where an enemy will be in the dark. OpenAI’s agent learned the game from scratch by self-play, and soon enough became good. So good, he beat the world’s top professionals at 1v1 matches under standard tournament rules.

AI’s incredible learning capabilities can be used in the cryptocurrency space, and that is exactly what MAGOS is doing, through the creation of a fund that is to be managed by AI with a highly accurate forecasting ability, and overseen by its team of experts.

MAGOS combines AI with blockchain technology
With the use of blockchain technology and Neural Networks, which essentially are software that simulates a biological brain with the goal of learning and recognizing patterns in data to, in the future, use similar patterns to predict the outcome of various events, MAGOS is creating a fund.

MAGOS is essentially a complex, scalable model based on five Neural Networks that, working together, have the power to predict the outcome of various events with high accuracy, much better than most individuals and systems.

Back in February, MAGOS began a 4-month long test. A third-party website that specializes in crowdsourcing sports picks to develop prediction analytics was used, and it showed that MAGOS held an edge over the competition, with an overall ROI (Return on Investment) of about 28%.

The system’s complex forecasting abilities will be applied to various domains on multiple platforms, in order to make a profit. It will initially use sportsbooks and conventional prediction markets, but will in the future expand to decentralized Ethereum-based prediction markets, integrating with projects like Augur, Gnosis, and Stox.

MAGOS’ token sale
MAGOS recently announced a token sale that will start on August 16, in which its MAG tokens will be distributed to investors. These will serve as ownership in the fund, whose dividends will be distributed with the use of Ethereum smart contracts, so that 85% go to token holders, 10% are reinvested into the fund, and 5% are used for operating expenses.

Moreover, token holders will be able to vote to change various parameters in MAGOS, including how profits are distributed. A total of 38,595,000 tokens will be distributed during the token sale. Tokens can be purchased with Ethereum and Bitcoin.

Official website : MAGOS.io

Press Contact Email Address
magos@magos.io
Supporting Link
magos.io

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: MAGOS – Edge-seeking Oracle appeared first on Bitcoin News.

Bitcoin Cash 8MB Block Clears Over 37,000 Transactions

Wed, 08/16/2017 - 12:00

On August 16 at approximately 8 am EDT the mining pool Bitclub Network mined an 8MB block on the Bitcoin Cash (BCH) blockchain. Block #479469 cleared over 37,000 transactions from the mempool making it the largest block found so far on the BCH chain. Meanwhile, the BCH network continues to capture infrastructure development and industry support.  

Also read: Venezuelan Bitcoin Mining Continues Despite Government Crackdown

An 8MB Block Found on the Bitcoin Cash Blockchain Clears 37K Transactions

It’s been sixteen days since the inception of Bitcoin Cash, and the network split that took place on August 1. The BCH chain has been trucking along, and miners have processed 918 blocks since the hard fork. On August 16 around 6-7am EDT the BCH network seemed to be suffering from a spam attack as unconfirmed transactions filled up the mempool. Roughly an hour later a massive 8MB block was found by the mining pool Bitclub Network which cleared 37,814 BCH transactions. Two hours later another large block was mined on the BCH chain that was 4MB in size. Coincidently the legacy bitcoin (BTC) blockchain’s mempool has been filling up and has over 48,000 unconfirmed transactions at press time.

The 8MB block found by the Bitclub Network.

At the moment the BCH chain difficulty is performing at 13 percent of BTC’s difficulty. An unknown miner or group of miners has captured a vast amount of the BCH hashrate and has mined 90 percent of all the blocks found. No one has been able to confirm who the mystery miner/miners is or are, as the pool has left no clues to its location or identity. Currently, the BTC blockchain is 1311 blocks ahead of the BCH chain and is still 69 percent more profitable to mine.

Infrastructure Support

BCH markets have remained fairly stable over the course of the past week consistently hovering around the $300 range. The digital currency has also received more support this week from various cryptocurrency businesses within the industry. For instance, Breadwallet released its BCH sending tool for both Android and iOS mobile platforms on August 15. Then BCH supporters got another surprise as Bitpay announced they would allow customers who use the Copay and Bitpay wallets access to the token, after initially saying they wouldn’t offer a tool. Bitpay says they do not plan to fully support the token on the software’s user interface, but they want “wallet users to have the option to retrieve their Bitcoin Cash if they wish to do so.”

In addition to the two wallet tools from Breadwallet and Bitpay, another wallet that supports BCH has been introduced to supporters. Openbazaar developer, Chris Pacia, has developed a wallet for the digital currency that’s currently in its alpha phase. Pacia has asked BCH supporters to help out with testing, and due to the software being in its early stages he cautiously warns not to store large amounts of funds in the wallet. The developer’s BCH wallet project and source code can be found at this repo.

Swiss Private Bank Adds Ether, Litecoin and Bitcoin Cash Asset Management  

Bitcoin Suisse AG has revealed another positive announcement for BCH proponents as the firm has detailed Falcon Private Bank will be allowing cryptocurrency asset management for ETH, LTC and bitcoin cash. Just last month news.Bitcoin.com reported on the bank’s initial setup of implementing BTC management, and now its clients can purchase, exchange, and store BCH on the bank’s platform.

Niklas Nikolajsen, the founder, and CEO of Bitcoin Suisse AG, says the firm is thrilled to assist Falcon with the new digital asset additions.          

“Bitcoin Suisse is proud to continue to support Falcon Private Bank’s product offering in the field of crypto-assets,” explains Nikolajsen. Falcon Private Bank was the first bank to offer bitcoin directly to its clients, and thus created history. Their decision to follow up by adding ether as well as other crypto-assets has made them the go-to private bank for crypto-asset holders and investors.”

Bitcoin Cash Supporters Remain Optimistic and Tip Each Other On-Chain

BCH supporters seem very optimistic about the future of the digital currency as it has garnered lots of attention these past two weeks. According to Google Trends data, searches for the phrase “Bitcoin Cash” has been more popular than “Ethereum” this week. Additionally, the new cryptocurrency now has its own tip bot for Reddit forums called the “Cash Tip Bot” which can send small micropayments of BCH. Subscribers from the subreddit r/btc have been playing with the tip bot for the past 24-hours as BCH network fees have been extremely low.

What do you think about the current progress for the BCH chain? What do you think about the 8MB block that was found? Let us know your opinions in the comments below.

Images via Shutterstock, Breadwallet, Falcon Private Bank, and Blockchair. 

Need to calculate your bitcoin holdings? Check our tools section.

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Russian Lawmakers Delay Bitcoin Regulation Bill

Wed, 08/16/2017 - 07:00

Russian lawmakers have been waffling on how to regulate bitcoin. They have delayed a bill intended to provide a regulatory framework and legalization for the digital currency.

Also read: Venezuelan Bitcoin Mining Continues Despite Government Crackdown

Russian Media Outlet Pundit Weighs in on the Law

Politicians have decided to withhold the bill due to recent fluctuations on the bitcoin market, as well as legal questions that have surfaced after the BTC-E take down. Elina Leonidovna Sidorenko, working for Russian media outlet Invest-Foresight, explained her reasoning for the push back.

“In April, we announced that the draft law would be ready in October. However, the situation on the market made us, in addition to the main bill, consider several more options. And now all these projects are postponed, we are watching the situation to understand.” Sidorenko also added;

Which solution will be optimal? Without coordination with ministries and departments, without developing a unified position, we are unlikely to advance..

She further explained the delays have to do with how the government should define cryptocurrencies. She said Russia will not go the same route as Japan and call it a payment means. It appears they may take a stand similar to that of the United States IRS or SEC. In other words, it may be a digital security or property. Sidorenko elaborated:

It is of fundamental importance for us to keep the approach to the crypto currency as a certain commodity.

Russian authorities are also trying to determine if cryptocurrency regulation should follow existing laws or the regulations should be drafted as a new law. In either case, it appears that Russian policymakers will not deliver a decision anytime too soon.

When do you think the Russians will finally legalize bitcoin?  Share your thoughts in the comments section below!

Images courtesy of Shutterstock

Need to calculate your bitcoin holdings? Check our tools section.

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Three Ukrainian Lawmakers Declare Bitcoin Holdings Worth $47 Million

Wed, 08/16/2017 - 05:30

Three Ukrainian lawmakers have declared their bitcoin holdings as part of the country’s new electronics declaration system aimed at preventing corruption. The three hold altogether 11,644 bitcoins, worth approximately $47 million at press time.

Also read: Arrests of Bitcoin Miners in Ukraine Spark Questions About Legality

Ukraine Lawmakers’ Bitcoin Holdings

Three members of the Verkhovna Rada of Ukraine which is the country’s unicameral parliament have declared their bitcoin holdings, according to Ria Novosti. Alexander Urbansky, Dmitry Belotserkovets and Dmitry Golubov are members of the political party “Bloc Petro Poroshenko.” The trio’s bitcoin holdings are shown in their electronic declarations, which Parliament members are required to submit. The publication detailed:

According to the declarations, Urbansky has 2,494 bitcoins (about 10 million dollars), Belotserkovets declared 398 bitcoins (1.6 million dollars), Golubov indicated in his declaration 8752 bitcoins (about 35 million dollars).

This “e-declarations” system, aimed to prevent corruption, mandates government officials and related persons to declare and describe all assets they possess inside and outside of Ukraine; the information is then made available to the public.

The first phase of this system was launched in September last year which affected 100,000 top and mid-level officials, explained the United Nations Development Programme (UNDP). The second phase started in January this year, affecting an additional 700,000-800,000 officials.

Recent Raids of Bitcoin Mining Farms

Meanwhile, some bitcoin mining farms in Ukraine have reportedly been closed down by the government. Recently, news.Bitcoin.com reported on bitcoin miners being arrested in Kiev and 200 pieces of mining equipment seized. Around the same time, the Security Service of Ukraine (SBU) reportedly discovered another cryptocurrency mining farm in the town of Kropyvnytskyi in central Ukraine. In both cases, the mining farms were closed down and mining equipment seized.

Artem Afyan, co-founder and managing partner of the law firm Juscutum, said that “over the past few months, we have seen a surge in law enforcement activity in the field of cryptocurrency.” However, he asserted that “the main motive of the raids is requisition. The mining equipment is seized.”

Bitcoin Regulations Being Discussed

Rostislav Kravets, Senior Partner of the law firm Kravets & Partners, explained that “the current legislation does prohibit the issuance and circulation of other payment instruments and monetary units, and the use of monetary surrogates as means of payment,” NV Business reported.

However, cryptocurrency is currently not banned, nor is its use prohibited. The central bank of Ukraine is aware of its use within the country. Last week, Deputy Governor of the National Bank of Ukraine Oleg Churiy said that the government is discussing the legal status of bitcoin and its regulation. The issue will be considered by the Financial Stability Board before the end of this month.

What do you think of Ukrainian politicians holding bitcoins while bitcoin mining farms are being closed down? Let us know in the comments section below.

Images courtesy of Shutterstock and Xinhua

Need to calculate your bitcoin holdings? Check our tools section.

The post Three Ukrainian Lawmakers Declare Bitcoin Holdings Worth $47 Million appeared first on Bitcoin News.

PR: Rivetz Raises $5.5 Million in RvT Token Pre-Sale; Token Crowdsale Capped at 200,000ETH

Wed, 08/16/2017 - 05:00

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

First Decentralized Cybersecurity Token Poised to Add Unprecedented Proof and Assurance of Privacy and Security at the Hardware Level for Billions of Consumer, Business and M2M Transactions

GEORGE TOWN, CAYMAN ISLANDS — Rivetz Intl, Inc. (https://rivetzintl.com) has announced it has secured $5.5 million USD (19,000 ETH) in a private presale of its Rivet (RvT) token, a cybersecurity token developed to provide verifiable security controls for cloud authentication, IoT, blockchain, and legacy financial transactions. The RvT token enables multifactor authentication across devices, to achieve provable security at both the transaction and authentication level. The Rivetz solution uses technology that is already built in to hundreds of millions of mobile devices to assure the keys and transactions can not be altered or stolen by malware infecting the operating system. The token sale is open to the public since August 10, 2017 at 17:00 UTC.

Institutional buyers in the presale, including BnkToTheFuture and Tally Capital, are vocal in their support for Rivetz’s multifactor authentication solution.

“We are very supportive of the goals of Rivetz and happy to add it to our portfolio of tokens,” said Simon Dixon, CEO BnkToTheFuture.com. “Turning our phones into hardware wallets in a way that is scalable will be an important advancement as the world adjust to owning their own digital assets. Rivetz CEO Steven Sprague is a true expert in the field of security, and the perfect leader to bring this innovation in personal security forward.”

“The Rivetz token distribution is a groundbreaking moment in decentralized cybersecurity,” said Matthew Roszak, managing director of Tally Capital and co-founder of Bloq.  “Rivetz provides consumer protections and simplicity that will help blockchain applications achieve their next level of adoption.  This new platform will add a crucial new layer of protection to exchanges, wallet and new tokens to ensure a level of data integrity and identity protection never before available.”

The token sale is led by leading crowdfunding platform TokenMarket. For more information, visit https://rivetzintl.com. The team is available to answer questions on  Slack or Telegram

About Rivetz
Rivetz is focused on solving problems associated with consumer and machine-to-machine digital transactions. Rivetz technology and services aim to provide a safer and easier-to-use model for all users to protect their digital assets using hardware-based trusted execution technology. The device aims to play a critical role in automating security and enabling the controls that users need to benefit from modern services. Rivetz leverages state-of-the-art cybersecurity tools to develop a modern model for users and their devices to interact with services on the Internet. For more information, visit www.rivetz.com

All product and company names herein may be trademarks of their registered owners.

TokenMarket Contact: Freya Stevens, freya@tokenmarket.net

Press Contact Email Address
lawrence@tokenmarket.net
Supporting Link
https://tokenmarket.net

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: Rivetz Raises $5.5 Million in RvT Token Pre-Sale; Token Crowdsale Capped at 200,000ETH appeared first on Bitcoin News.

Protonmail’s Beta Version Enables Automated Bitcoin Payments

Wed, 08/16/2017 - 02:30

A year ago the popular encrypted email provider, Protonmail, launched its desktop, Android, and iOS platforms that feature end-to-end encryption. The company offers a free service for users but also provides premium features for those wanting to pay for better privacy and more storage. Now Protonmail has revealed that automated bitcoin payments are coming soon and users can test the feature through the startup’s beta version.

Also read: An Inside Look at Bitkan’s ‘Bitcoin: Shape the Future’ Documentary 

Protonmail Offers Automated Bitcoin Payments Through Beta Platform With Full Release Coming Soon

These days privacy is a very hot subject and many bitcoin users believe privacy is of utmost importance. A service that offers a privacy centric email platform called Protonmail uses client-side encryption and the startup’s servers are positioned outside of the U.S. and EU jurisdictions. The email provider provides a free service that gives users the ability to send end-to-end encrypted emails and hold 500MB of storage. However, the company also offers premium services, which provide up to 20GB of storage, and VPN access. This week Protonmail announced automated bitcoin payments for premium users would be coming in the near future.

“Automated bitcoin payments are coming soon! You can test it out already at beta.protonmail.com,” explains the privacy centric email provider.

Protonmail details that if individuals want to keep their payment history out of sight from  their banks, then bitcoin is the best choice. Those who want to pay for a premium Protonmail account with bitcoin can use their existing free account or sign up for a new account and head to the “upgrade” section within the dashboard. After selecting a premium account users can then choose “bitcoin” as a payment method, and a BTC address and QR code will appear so the payment can be processed.

Protonmail’s automated bitcoin payment feature via the startup’s desktop beta version. The Hottest Startup in Switzerland Has a Long History With Bitcoin

In an interview last year, Protonmail co-founder Andy Yen said his company and bitcoin have always had a good relationship.

“Protonmail and bitcoin actually have a long history together — Back in 2014 when PayPal instituted a payment block against us, we relied on BTC donations to keep the service running.”

As of January 2017, Protonmail has seen exponential growth and is known for being one of the hottest startups in Switzerland. The company started as an invitation-only encrypted email provider and now has over 2 million users worldwide. As of right now paying with bitcoin for an initial premium sign up is not available and current options are SMS or credit card payments. The feature can be tested using the beta version and is currently only available for the desktop Protonmail platform.

What do you think about Protonmail offering automated bitcoin payments in the near future? Let us know what you think in the comments below.

Images via Shutterstock and Protonmail. 

Want to create your own secure cold storage paper wallet? Check our tools section today.

The post Protonmail’s Beta Version Enables Automated Bitcoin Payments appeared first on Bitcoin News.

Rogue Silk Road Agent Admits to Stealing Bitcoins Seized by U.S. Marshals

Wed, 08/16/2017 - 02:00

Back in 2015 two rogue U.S. Secret Service agents, Shaun Bridges and Carl Mark Force, were caught and sentenced to prison for stealing funds while investigating the first high profile darknet market the Silk Road. Now according to reports, Shaun Bridges plead guilty on August 15 for moving 1,600 bitcoins of seized bitcoins confiscated by federal authorities.

Also read: Goldman Sachs Technical Analyst Predicts Bitcoin’s ‘Top’ Is $4800

Former U.S. Secret Service Agent Shaun Bridges Admits to Stealing 1600 Bitcoins Seized by the Federal Authorities

The tale of the underground Silk Road marketplace seems to never end, as U.S. prosecutors have recently charged former special agent Shaun Bridges with money laundering crimes. According to court documents uploaded to Pacer, Bridges moved 1606.6488 BTC worth US$6.6B at press time out of a federal account held on Bitstamp. At the time the stolen coins were only worth about a half of a million, and according to documents some of the funds moved to the two exchanges BTC-e and Bitfinex.

According to Arstechnica, Bridges was willing to answer questions and agreed to a plea bargain. William Frentzen, the Assistant United States Attorney, details to the publication that the stolen funds were dispersed between BTC-e, a hardware wallet, and the Bitfinex exchange.

“We would also prove that Mr. Bridges, following the government’s discovery that the bitcoin were missing and that they had in fact been moved, the government was able to obtain the bitcoin at Bitfinex,” explained the court’s prosecutor. “And we then met with Mr. Bridges, and through the course of that time we returned the bitcoin.”   

Plea Bargains and ‘Keys to the Kingdom’

After the prosecution read their statements, Judge Seeborg asked Bridges if everything that was said to him was true. The former federal agent replied by stating the facts were accurate while also admitting he processed the bitcoin transactions shown to him in court. It’s unclear right now what kind of plea bargain Bridges made with the prosecution, but he could face ten years in prison and a $250,000 fine.

New court documents uploaded to Pacer show Shaun Bridges moving 100 BTC increments of seized bitcoins to accounts held on BTC-e. 

According to Ross Ulbricht’s family, Bridges and Carl Mark Force tainted the entire Silk Road investigation and Ulbricht’s hearing as well. Much of the information about the two rogue officers were kept hidden from courts even though the Ulbricht family said the two agents had “keys to the Silk Road Kingdom.”

Ulbricht’s defense said Force and Bridges had access to Silk Road administrator passwords, they could commandeer accounts, including DPR’s (and act as DPR), access private bitcoin keys, bank accounts and more. So far, Bridges has admitted to stealing millions of dollars worth of seized bitcoins, stolen before the two officers were taken into custody. Now Bridges will face more prison time when Judge Seeborg sentences the former agent in the next few months.

What do you think about the rogue agent Bridges being charged for money laundering and stealing 1600 BTC from the Feds? Let us know what you think in the comments below. 

Images via Shutterstock, Pacer, and KTVU.

Want to create your own secure cold storage paper wallet? Check our tools section.

The post Rogue Silk Road Agent Admits to Stealing Bitcoins Seized by U.S. Marshals appeared first on Bitcoin News.

PR: Blockoptions Announces It’s Up-Coming ICO From 25th August to 25th September

Tue, 08/15/2017 - 23:00

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Blockoptions. The 1st decentralised binary trading option platform announces it’s ICO launch on august 25th 2017 at 04.00 UTC to fund further project development. The crowdsale will continue up until september 25th 2017 at 04.00 UTC.

Blockoptions team is building a 100% independent and decentralised binary options platform that is based on ethereum main chain with BOPT a standard ERC20 Ethereum token which would be used as an in trade currency and dividend to token holders.

Binary option trading are the simplest type of stock or asset trading so far, as they require very little or no inside knowledge of stock trading. The trader simple selects the direction in which he/she thinks the price of an asset will move in a given amount time – either ‘UP’ (call option) or down (put option) – and purchases an option contract. With this option, the trader has the right to a fixed return on his capital (usually determined by the broker) if his/her price movement prediction is correct or losses all his/her initial investment if things happen the other way round. In the rare case of no price movements, trader’s initial capital is refunded. Although the main action in binary options trading is predicting if price moves above or below the present price, other forms of binary trade available are touch trading and range trading.

Binary options are often considered a form of gambling rather than investment because of their negative cumulative payout (the brokers have an edge over the investor) and because they require little or no knowledge of the markets.This sort of thing can quickly become addictive… no one, no matter how knowledgeable can consistently predict what a stock or commodity will do within a short time frame.

The binary options industry of today has a massive community around it(currently millions of trade per day.) and there is also a great deal of finance flowing in and out of this sector. Just in Israel alone, binary options broker companies made $5 billion profit in 2016. One of the biggest binary options platform in United States makes almost 1M profit per day. IG Group, One of the top company made $305.1 million of net trading revenue in 2016. So we can say binary option is a multi-billion dollar industry and it is still fresh.

Despite the amount all the money, population and simplicity around this industry, there is still a big gap that needs to be filled up. That gap is ‘trust’ very small but very essential in fact it is a necessity in the today’s traditional binary option industry but it is leading both traders and brokers in a bootstrap situations and most at time the outcome is catastrophic. Because of this, the industry is flooded with scams and frauds. Examples of such include;
● Blocked withdrawal
● Traders sending money from hacked or stolen accounts
● Platform shots down and run with all traders cash
● Manipulating price feeds by platform

Because trader and broker need to trust each other before dealing, the above misfortunes are inevitable. This can be seen from the amount of scams and fraud that plagues the industry by searching the phrase ‘scams in binary options industry’, frauds in binary options industry’ etc.. on google and youtube. Apparently for every good binary option trade that takes place on the web, there are 2 more bad binary option trades that takes place to counter it. Leaving us with millions of ‘binary trades went wrong per day’.

The issue of trust is undoubted the main breakpoint in the industry but it is not the only point worth looking into. The industry is also preoccupied by some annoying limits which affects the flexibility of binary trading fatally. Some of these limits include.
● Withdrawal limit/ intervals
● Deposit limit/intervals
● max/min amount per trade
● Time between withdrawing/depositing and actually having the money in your account

All these limits and many more are greatly affecting flexibility of binary options trading.

From the issues out lined in the last 3 paragraphs above, Blockoptions has resolved in to creating and a completely trustless, independent, transparent and decentralised platform for the binary trading industry. It would be 100% on ethereum main chain with BOPT a standard ECR20 ethereum token as an in trade currency and dividend for token holders.

To achieve the 100% onchain platform, BlockOptions.io won’t need account registration, off-chain server side, additional database, man power to audit funding/trading/withdrawing, but only reply on ethereum blockchain.so everything would be done independently and automatically.
There are many ICOs out there but Blockoptions is one of the few projects on ICO with a complete MVP version which is currently being tested by project adopters all over the world.

We already have 121 successful trades and counting.

To test our mvp go here demo.blockoptons.io.

You can check our white paper to see how we improve this to suite just what the binary options industry needs.

Token holders would benefit in two ways. From token increase in value due to broad adoption and from profit that comes from fee per trade. So our investors benefit both qualitatively and quantitatively.

We welcome all to join to the quantum leap movement in binary option industry..
E-mail: support@blockoptions.io

Visit our website: https://blockoptions.io

Press Contact Email Address
support@blockoptions.io
Supporting Link
https://blockoptions.io

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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