Bitcoin Magazine

Via BitcoinMagazine – 7:40 pm June 5, 2019
In order to help banks comply with a growing set of regulations, Elliptic is building a platform that enables banks and other businesses to gain more visibility into crypto transactions and identify illicit activity on the blockchain.nThe post How Elliptics Blockchain Analysis Brings Visibility to Crypto Transactions appeared first on Bitcoin Magazine.n

Via BitcoinMagazine – 7:40 pm June 5, 2019
Multiple users have reported that crypto trading platform LocalBitcoins has stopped allowing customers to make in-person trades of crypto assets for cash in an anonymous fashion. nThe post LocalBitcoins Stops Cash Trades, Personal Offers on Platform appeared first on Bitcoin Magazine.n

Via BitcoinMagazine – 7:40 pm June 5, 2019
The FBI has questions in its ongoing investigation into the mysterious $190 million collapse of Canadian crypto exchange QuadrigaCX, so its turning to previous customers of the exchange for answers.nThe post The FBI Wants QuadrigaCX Victims to Share Their Experiences, Posts Questionnaire appeared first on Bitcoin Magazine.n

Via BitcoinMagazine – 7:40 pm June 5, 2019
The Bitcoin service industry is undergoing a technical renaissance.nThe post Apps, Services and Devices That Put Every Bitcoiner in the Drivers Seat appeared first on Bitcoin Magazine.n

Via BitcoinMagazine – 7:40 pm June 5, 2019
In this episode, Dave and Grahm sit down with Jameson Lopp to discuss his recent op-ed.nThe post Proof of Wrongs Debunking Faketoshi With Jameson Lopp appeared first on Bitcoin Magazine.n

Via BitcoinMagazine – 7:40 pm June 5, 2019
Israel's Supreme Court has ruled that Bank Leumi has to open services to the Bits of Gold cryptocurrency exchange.nThe post Crypto Exchange Bits of Gold Wins Court Dispute Against Bank appeared first on Bitcoin Magazine.n

Via BitcoinMagazine – 7:40 pm June 5, 2019
If its up to Boston-based startup Arwen, cryptocurrency exchange hacks will soon be a thing of the past.nThe post Not Your Keys, Not Your Coins How Arwen Wants to End Exchange Custodianship appeared first on Bitcoin Magazine.n

Via BitcoinMagazine – 11:05 am June 5, 2019
n nn nn A series of op eds by Kyle Torpey addressing some of the oft-repeated arguments against Bitcoin.One of the earliest criticisms of Bitcoin was that the underlying token in the system had no intrinsic value. This point was an area of heavy debate among libertarians and Austrian economists who had become interested in bitcoin as a potential digital alternative to gold in the early stages of the crypto assets development.Much of the debate revolved around Aust

Via BitcoinMagazine – 11:05 am June 5, 2019
n nn nn This article was originally published by 8btc and written by Vincent He.Although China has shut down bitcoin trading platforms and deemed them illegal, its attitude toward bitcoin mining is still ambiguous. Now, 70 percent of the worlds bitcoins are produced in China, while 70 percent of Chinas stock are in Sichuan, a western province of China, especially along the Dadu River, where there is plenty of hydropower.As bitcoin mining requires a lot of electric

Via BitcoinMagazine – 11:05 am June 5, 2019
n nn nn Bitcoin has the potential to revolutionize the African continent. Through Bitcoin, millions of unbanked Africans will have access to financial services.These and many more such statements exist across the internet. All these statements are true. But, despite all the benefits that Bitcoin is expected to bring to African countries, adoption levels in Africa continue to be the lowest globally.Which begs the question, If Bitcoin is to help Africa catch up with

Via BitcoinMagazine – 11:05 am June 5, 2019
n nn nn The Australian Securities and Investments Commission ASIC has published an update on how it intends to regulate crypto-related businesses and initial coin offerings ICOs.In this guideline, the financial regulator outlines requirements that need to be followed for cryptocurrency businesses to be compliant with the ASIC Act.This update is noteworthy as the country continues to battle crypto scams, losing almost $4.3 million in 2018.Going forward, companies i

Via BitcoinMagazine – 11:05 am June 5, 2019
n nn nn U.S. citizen Morgan Rockcoons has been sentenced to fines and prison time for running unlicensed money exchange services on LocalBitcoins.Advertising himself on the peer-to-peer bitcoin trading network, Rockcoons made more than 1,000 transactions with hundreds of different users. The U.S. Department of Justice DoJ pursued him on charges of not registering his business with the Financial Crimes Enforcement Network FinCEN.Rockcoons sentencing marks the end o

Via BitcoinMagazine – 11:05 am June 5, 2019
n nn nn n nnSummaryAlthough we saw a strong sell off yesterday, the bullish market structure has yet to be violated. The weekly support has been confirmed for the time being and our parabolic advance is still intact.We are currently failing to hold support in the $8,500s for our intraday market structure. As we test the failed support we have yet to confirm if it has new found resistance. If we fail to regain the level we can expect to see an intraday retest of

Via BitcoinMagazine – 11:05 am June 5, 2019
n nn nn North Korean hackers have made a phishing attempt on users of the South Korean crypto exchange Upbit.News correspondents in Korea broke this development on May 29, 2019, detailing the ploy to steal Upbit users information. The hackers sent out an email claiming that Upbit users needed to submit more information to become eligible for a prize drawing.When users opened up the email reportedly containing information about a phony sweepstakes and its payout, m

Via BitcoinMagazine – 11:05 am June 5, 2019
n nn nn The Eye of Sauron casts its gaze upon the Lightning Network.This is how Lightning Labs CTO Olaoluwa Osuntokun aka, roasbeef has heralded the coming of Watchtowers to the Lightning Network. Though comparing the technical feature to the demonic gaze of Tolkiens primary antagonist sounds disconcerting, the analogy holds up on the surface Watchtowers, as the name implies, will keep an eye on Lightning Network channels and potential bad actors.Why the need for

Via BitcoinMagazine – 11:05 am June 5, 2019
n nn nn The accusation that bitcoin is nothing more than a Ponzi scheme is perhaps the oldest, longest-standing criticism of the digital bearer asset. The basic idea is that there is nothing of value here and the entire purpose of bitcoins existence is to enrich Satoshi Nakamoto and the speculators who bought in for a few pennies or dollars in the early days by tricking others into buying in at a higher price.The key characteristic of a Ponzi scheme is that return

Via BitcoinMagazine – 11:05 am June 5, 2019
n nn nn Braiins, a cryptocurrency mining pool operator based in Prague, is rebranding its companys operation and bringing all of its products under a single umbrella.Updates Are ComingBraiins is the company behind Slush Pool, the original cryptocurrency mining pool with a hash rate of 5.32 Eh/s, per its website. After operating in the mining sector for some years, it appears to be set for a brand makeover and it&x27s pushing out some upgrades for its popular p

Via BitcoinMagazine – 5:00 pm May 28, 2019
n nn nn In the latest development over its security breach, cryptocurrency exchange Cryptopia has filed for bankruptcy protection in the U.S.The New Zealand-based exchange, which has been dealing with the fallout of a January 2019 hack, went into liquidation and stopped all trading earlier this month. Cryptopia&x27s assigned liquidator, Grant Thornton, then petitioned the Southern District of New Yorks bankruptcy court to seek recognition of this liquidation a

Via BitcoinMagazine – 3:35 pm May 28, 2019
n nn nn Lightning Network app Tippin.me has released a version 1.0 update, which includes a host of new features and promotional measures intended to increase the user base and improve the user experience.Originally launched in December 2018, Tippin was introduced as a novel way to use the Lightning Network to make micropayments easily accessible for a wide range of users by allowing them to send and receive tips over the Lightning Network on Twitter. Originally a

Via BitcoinMagazine – 10:05 pm May 24, 2019
n nn nn The purpose of this infographic is to visualize the size of large cryptocurrency hacks that have occurred in the past as if they all happened today. The hacks included in this infographic extend beyond exchanges, as there were other large entities that experienced cryptocurrency hacks, such as marketplaces like Silk Road 2.0. All hacks in this infographic are displayed as if the price of bitcoin was the same when they occurred, in order to visualize their

Via BitcoinMagazine – 6:55 pm May 24, 2019
n nn nn The popular peer-to-peer bitcoin trading network LocalBitcoins has shut down all trading operations for Iranian users.LocalBitcoins website offers a variety of pages for users of different nations and, as of May 24, 2019, the Iranian page displays a message that LocalBitcoins is currently not available in your selected region, in English only. In an official correspondence regarding the update, a representative of LocalBitcoins confirmed that Iranians can

Via BitcoinMagazine – 10:55 pm May 23, 2019
n nn nn n nnSummaryThe bitcoin market is seeing some pullback as the monthly and weekly resistance level has proven to be a tough level to crack. On the daily level we can see a couple of attempts to break the level, but ultimately this was matched with strong selling pressure.On bitcoins four-hour chart we can see that support that once held the market up is now turning into support with a failure to reclaim the level.If we fail to reclaim the $7,800s, we can

Via BitcoinMagazine – 9:55 pm May 23, 2019
n nn nn AT&ampT customers can now use bitcoin to settle their bills online.According to a press release from the Dallas-based mobile carrier, customers who want to use cryptocurrency to pay their bills can do so by selecting BitPay as a payment option on the myAT&ampT app or when they log in to their account. BitPay is a popular crypto payment service that helps businesses accept cryptocurrencies for payments online.It&x27s exciting for BitPay to suppo

Via BitcoinMagazine – 6:15 pm May 23, 2019
n nn nn More crypto users can now walk into their local grocery store and purchase cryptocurrencies, thanks to the expansion of a partnership between Bitcoin ATM operator Coinme and coin-cashing machine purveyor Coinstar.The expansion, announced in a press release, means that bitcoin will be available for purchase at over 2,200 locations in 21 states and the District of Columbia. The partnership began in early 2019 and grew to offer bitcoin purchases at kiosks in

Via BitcoinMagazine – 6:15 pm May 23, 2019
n nn nn The founder of defunct cryptocurrency exchange Cryptopia, which entered liquidation following a hack in January 2019, has launched a new exchange called Assetylene.The LinkedIn employment history for the founder of the failed New Zealand exchange, Adam Clark, indicates that hes been working on Assetylene since September 2018, which is also when the exchanges Twitter account went live. With fewer than 100 followers, the account is billed as representing New

Via BitcoinMagazine – 9:10 pm May 22, 2019
n nn nn The Dutch Financial Intelligence and Investigation Service FIOD has shut down cryptomixing site Bestmixer.io.According to local media, Dutch authorities moved to shut down the site on May 22, 2019, as part of a joint operation with police agencies from several European nations, including France, Latvia and Luxembourg. Following concerns originally raised by the online security company McAfee in 2018, the FIOD has claimed that the service was used for money

Via BitcoinMagazine – 6:30 pm May 22, 2019
n nn nn The Australian Federal Police AFP has charged a government employee alleged to have misused government IT infrastructure for personal cryptomining operations, per a press release.In the release, the AFP states that the unnamed 33-year-old man is an IT contractor with the Australian government, who took advantage of his access to manipulate programs to use the processing power of the agencys computer network for cryptocurrency mining.For his effort, the rep

Via BitcoinMagazine – 6:30 pm May 22, 2019
n nn nn This article was originally published by 8btc and written by Vincent He.Nearly 100 victims from various parts of China have reported to the Hangzhou police bureau, claiming that they were deceived by two young men, named Zhou Yi and Li Xiang, who allegedly stole nearly 7,000 bitcoin through exchanging or borrowing.According to the victims, Zhou and Xiang had claimed on the internet that they could exchange bitcoin as futures and provide interest. The victi

Via BitcoinMagazine – 2:35 pm May 22, 2019
n nn nn Bitcoin was barely a year old and trading for less than a penny. Excitement for the worlds first cryptocurrency was still largely bottled up in the infant hobbyist forum Bitcointalk, itself barely half a year old. Here, OGs effervescent with enthusiasm compared notes on economic philosophy, technical knowledge and the new cryptographic beast that Satoshi Nakamoto created. Satoshi himself was still active on the forum, too, as the earliest adopters shared t

Via BitcoinMagazine – 11:55 pm May 21, 2019
n nn nn Tether, a stablecoin tied to the dollar that is meant to mediate the volatility of other cryptocurrencies, is partly backed by bitcoin.As detailed in court documents obtained by The Block, Tether admitted to using some of the cash reserves meant to back its stablecoin to purchase bitcoin, among other assets.This revelation is the latest in legal proceedings between the New York Attorney General NYAG and Bitfinex, a leading cryptocurrency exchange which sha

Via BitcoinMagazine – 8:30 pm May 21, 2019
n nn nn The U.S. Internal Revenue Service IRS is planning to overhaul its methods for determining the federal taxes due on cryptocurrency payments to improve clarity for taxpayers.The decision stems from the recent attempt by Minnesota Representative Tom Emmer to pass legislation reforming the way that hard forks and the resultant forkcoins are viewed by tax agencies. Joined by members of his Blockchain Caucus, Emmers initial attempt to pass the bill failed in Sep

Via BitcoinMagazine – 8:30 pm May 21, 2019
n nn nn To Bitcoin or Not to BitcoinDuring the scaling debate before the SegWit2X user-activated soft fork UASF, Bitcoin businesses were getting their first bitter taste of Bitcoins censorship resistance. They wanted change to be easier. They wanted their influence to be effective. They wanted to take shortcuts. Unfortunately for them, Bitcoin was created to resist control. Entities that seek to position themselves against Bitcoin are choosing a path of perpetual

Via BitcoinMagazine – 7:05 pm May 21, 2019
n nn nn On March 21, 2019, Dutch news outlet NL Times reported that Berry van M., a 33-year-old Dutch businessman and the operator of now-defunct trading platform Koinz Trading, has been arrested on charges of deceiving investors with a bogus bitcoin mining scheme.The report claims that van M. was the director of companies that sold computers for mining Bitcoin since 2017 and that he managed the computers in a so-called mining farm. He convinced investors that the

Via BitcoinMagazine – 5:40 pm May 21, 2019
n nn nn On May 16, 2019, San Francisco-based crypto exchange Kraken posted on Twitter a summary of its response to the Canadian Securities Administrators CSA Proposed Framework for Crypto-Asset Trading PlatformsKraken strongly recommends against Canada imposing a security law framework on cryptocurrency exchanges in public response to the Proposed Framework for Crypto-Asset Trading Platforms published by the CSA, Kraken wrote.Jonathan Hamel, a Bitcoin technology c

Via BitcoinMagazine – 5:40 pm May 21, 2019
n nn nn This article was originally published by 8btc and written by Lylian Teng.Bitcoin ATM services in China have once again proved to be hopeless, after the first Bitcoin OTM OTC Teller Machine in Beijing was removed shortly after its installation.As Bitcoin ATMs are gaining traction throughout the world, the first Bitcoin OTM appearing in Beijing seemed like a giant leap forward for the country, who often holds a hostile approach toward bitcoin. However, the m

Via BitcoinMagazine – 12:55 am May 21, 2019
n nn nn n nnSummaryThe market is seeing a current rejection of the weekly level outlined in 2018s bull market. The zone between $8,300 and $8,400 has a strong point of interest in the previous bear market and we are currently seeing high levels of supply surface as people take profit.If we fail to break the $8,400 level, we can expect to see a retest of $7,400 and potentially even a deeper dive into the $6,800s as this represents another macro, weekly level and

Via BitcoinMagazine – 10:40 pm May 20, 2019
n nn nn Dr. Ron Paul was into sound money before it was cool.Before he became an initiate in the Austrian school of economics, he served as a flight surgeon in the United States Airforce and as a private practice OBGYN in Texas. Proselytized by the works of Ludwig von Mises and Ayn Rand, Paul decided to run for Congress in the 70s following the termination of the Bretton Woods agreement an international pact that was the dollars final, albeit tentative, tie to th

Via BitcoinMagazine – 10:40 pm May 20, 2019
n nn nn In the Bitcoin industrys Sisyphean struggle to secure a Bitcoin exchange traded fund ETF, the boulder is rolling back down the hill.The U.S. Securities and Exchange Commission SEC posted a notice today, May 20, 2019, that it is delaying its decision on the VanEck and SolidX Bitcoin ETF proposal. With this additional extension the first coming on March 29, 2019, the agency will have until August 19, 2019 to either approve, reject or delay the decision yet a

Via BitcoinMagazine – 8:40 pm May 20, 2019
n nn nn The founder of decentralized crypto exchange Bisq has stepped away from all roles and activities, allowing the exchanges DAO decentralized autonomous organization to oversee its operations.Manfred Karrer released the departure announcement on Bisqs official site on May 16, 2019, claiming that the exchange is entering a new phase and that the DAO is now the infrastructure which enables that Bisq is managed by its stakeholders and contributors. Noting that S

Via BitcoinMagazine – 7:35 pm May 20, 2019
n nn nn In its April 2019 Exchange Review, released on May 20, 2019, London-based crypto data analysis firm CryptoCompare found that fiat-to-crypto exchanges performed much better than crypto-to-crypto platforms did over the last month, as cryptocurrency prices rose across the board.According to the report, fiat-to-crypto exchanges enjoyed an impressive 85 percent uptick in monthly trading volumes in April 2019. Bithumb, UPbit and Bitfinex were the highest perform

Via BitcoinMagazine – 9:25 pm May 17, 2019
n nn nn In the latest on the ongoing legal dispute between the New York Attorney General NYAG, cryptocurrency exchange Bitfinex and stablecoin issuer Tether, the New York Supreme Court has modified an April 24, 2019, preliminary injunction and now Bitfinex is allowed to continue using the Tether reserves that were loaned to it to maintain its ordinary course of business, such as paying employees and consultants. But Bitfinex may not withdraw any further funds from

Via BitcoinMagazine – 6:40 pm May 17, 2019
n nn nn Coinbase CEO Brian Armstrong has announced that the company is working on introducing its debit card to customers in the U.S.Armstrongs announcement came in a live AMA session on YouTube on May 16, 2019, during which he fielded questions and touched on various topics such as community trust ratings for altcoins and fraud prevention. While he did confirm that the debit card is coming to U.S. customers, he didn&x27t divulge a specific release date.Last m

Via BitcoinMagazine – 5:05 pm May 16, 2019
n nn nn Minnesota Congressional Representative Tom Emmer has announced plans to reintroduce a bill meant to provide temporary safe harbor for the tax treatment of hard forks of convertible virtual currency in the absence of administrative guidance.Representative Emmer participated in a panel on the relationship between government and the crypto industry at Consensus 2019 on May 13, 2019, wherein he first announced an attempt to continue the fight for his hard fork

Via BitcoinMagazine – 5:05 pm May 16, 2019
n nn nn Nestled in the exhibition room at this years Consensus conference, the U.S. Commodity Futures Trading Commission CFTC had a message for conference goers as they weaved in and out of booths representing various projects and startups in the space Be on the lookout for virtual currency fraud and if you see it, let us know.The Whistleblower Office of the Commodity Futures Trading Commission CFTC is issuing this alert to inform members of the public about how t

Via BitcoinMagazine – 9:55 pm May 15, 2019
n nn nn Attorneys for Tether and Bitfinex are hoping to get the former access to its reserves amid a legal dispute with New York Office of the Attorney General NYOAG.In a letter sent to the New York County Supreme Court, attorneys representing iFinex the parent organization of Bitfinex and Tether took issue with the restrictions that had been placed on Tether&x27s transactions with related parties as part of an ongoing case against them, stating that the NYOAG

Via BitcoinMagazine – 9:55 pm May 15, 2019
n nn nn Security tokens are coming to Bitcoin, courtesy of Blockstream.The Bitcoin and blockchain technology company announced on May 15, 2019, the final day of the Consensus 2019 conference, that Liquid Securities, a platform for issuing and managing security tokens on its Liquid sidechain, is ready to go live. This platform will provide Liquid and its users with its first product to issue digital assets, a foundational milestone for bringing tokenization to the

Via BitcoinMagazine – 12:05 am May 15, 2019
n nn nn Blockchain security company BitGo is launching a new service for institutional clients a clearing and settlements system that operates off-chain.BitGo announced this new service in a press release on May 14, 2019, describing some of the features that this new system will have. Assets never need to leave custody, according to the announcement, and counterparty risk is minimized with BitGo acting as custodian for both sides of any deal.BitGo expects its in-h

Via BitcoinMagazine – 6:10 pm May 14, 2019
n nn nn Popular cryptocurrency exchange Binance will be conducting a system upgrade on May 15, 2019, in the wake of a $40 million hack.Per an announcement that was published on the exchanges blog, the scheduled system update will affect all transactions on the platform for about 6 to 8 hours. However, it also noted that the time needed for this upgrade to complete might vary.This latest notice follows an announcement from Changpeng CZ Zhao, the exchanges CEO, publ

Via BitcoinMagazine – 6:10 pm May 14, 2019
n nn nn For the crypto industry, attracting the next 100 million consumers to start using tokens as currency is going to require simpler access methods. The current process of exchanging a fiat currency e.g., USD to any cryptocurrency e.g., bitcoin, is a multi-step process with lots of obstacles.nn nn This article originally appeared on Bitcoin Magazine. n n

Via BitcoinMagazine – 6:10 pm May 14, 2019
n nn nn This article was originally published by 8btc and written by Lylian Teng.The bitcoin price has broken $8,000 for the first time since July 2018, with most cryptocurrencies trading in the green. The rally has sent bitcoin to the top of the Baidu hot searches Chinas equivalent of Google Trends as of May 14, 2019.As of press time, bitcoin is trading at around $8,135, up over 15 percent over the past 24 hours and nearly 40 percent in the week. While no one is

Via BitcoinMagazine – 6:10 pm May 14, 2019
n nn nn The first quarter of 2019 was bullish for the digital asset management firm Grayscale Investments and the company is gearing up to have another run.According to a first quarter Digital Asset Investment Report from the company, published on May 13, 2019, product inflows from Grayscale Investments grew by 42 percent over Q4 2018. The company revealed that its Bitcoin Investment Trust BIT saw the vast majority of investments in the quarter, as the trust secur

Via BitcoinMagazine – 12:26 am May 14, 2019
n nn nn n nnSummaryThe bitcoin market has gone parabolic as we blasted off through two major weekly levels. The resistance got crushed due to a high amount of short positions that were force liquidated in an event known as a short squeeze.We are currently testing the $8,000 level but a major weekly resistance level looms directly overhead in the $8,150 area. The price structure is looking fairly climactic and we might see a strong round of selling hit the marke

Via BitcoinMagazine – 10:26 pm May 13, 2019
n nn nn Tether has taken a lot of heat for admitting it is running a fractional reserve. Theres no doubt that Tethers unregulated nature makes this approach risky and that its lack of transparency is unsettling, but the entire modern banking system is architected on fractioned assets.And Tether is not the only stablecoin that admits that it is backing its tokens with cash and equivalent assets all of its competitors state in their terms of use that they can and/or

Via BitcoinMagazine – 10:26 pm May 13, 2019
n nn nn Andrew Torba is getting into Bitcoin.Well, actually, hes been into Bitcoin for quite some time. He contributed to CoinDesk back in 2013, most notably with an article he wrote about buying a Subway footlong with bitcoin.This was three years before he founded Gab, an alternative social media network that champions free speech, individual liberty and the free flow of information online. Gab has accepted bitcoin donations since its launch in 2016, but now its

Via BitcoinMagazine – 10:26 pm May 13, 2019
n nn nn Microsoft is leveraging blockchain technology to create a trustless digital identity scheme, but its not launching a token or building a private blockchain to do so. Its building on Bitcoin instead.Announced on May 13, 2019, Project ION is an open-source, Layer 2 network built out of the public key infrastructure protocol Sidetree. In practice, it is akin to Lightning, in that there is no secondary consensus among ION nodes, a source close to the networks

Via BitcoinMagazine – 10:26 pm May 13, 2019
n nn nn Popular e-commerce provider eBay has released promotional materials suggesting that its is ready to accept virtual currencies and offer digital collectibles.The ads have appeared at Consensus 2019, a cryptocurrency and blockchain summit taking place this week in New York. In addition to hinting that eBay will soon offer support for cryptocurrencies, they feature claims about the companys online reach and user count.Because the initial ads didnt mention any

Via BitcoinMagazine – 10:26 pm May 13, 2019
n nn nn Payment platform Flexa has announced the launch of SPEDN, an app that allows users to make purchases with cryptocurrencies at a variety of brick-and-mortar stores. The app works by generating QR codes at checkout registers, which then debit users wallets on the app and credit merchants with fiat.To initiate payments immediately, Flexa uses FlexaCoin, its native cryptocurrency, as an intermediary before the originating coins network approves the transfer. E

Via BitcoinMagazine – 10:26 pm May 13, 2019
n nn nn It looks as if cryptocurrency service providers will have to adopt stricter know-your-customer KYC policies all across the world and not everyone is happy about that.On February 22, 2019, the intergovernmental Financial Action Task Force on Money Laundering FATF published a draft recommendation for strict and uniform anti-money laundering AML regulation for cryptocurrency service providers, to be finalized by June 2019. The G20 the 19 most powerful count

Via BitcoinMagazine – 10:05 pm May 11, 2019
n nn nn Electronics company HTC has announced that it is launching a smartphone to bring crypto and blockchain technology to a wider audience in Q3 2019.According to a press release shared with Bitcoin Magazine, The EXODUS 1s will be the first smartphone ever to have full node capabilities containing the full Bitcoin blockchain.With the EXODUS 1, we gave people the power to own their own keys, now we&x27re giving people the power to run their own node, Phil Ch

Via BitcoinMagazine – 8:30 pm May 10, 2019
n nn nn On May 9, 2019, the Financial Crimes Enforcement Network FinCEN, issued new interpretive guidance about how its regulations apply to businesses that conduct money transmissions in virtual currencies.In summary, a money services business MSB needs to register with FinCEN, which is free and done through Form 107 get an AML compliance policy that specifies what KYC information will be collected and aims to catch and prevent money laundering and terrorism desi

Via BitcoinMagazine – 6:40 pm May 10, 2019
n nn nn The U.S. Securities and Exchange Commission SEC has posted a new proposal from Crescent Crypto Index Services, a subsidiary of Crescent Asset Management, for the launch of a crypto-backed exchange-traded fund ETF.According to the application, the company, which is based in New Jersey, will be looking to monitor the performance of a portfolio of ether ETH and bitcoin BTC. The fund has been named the USCF Crescent Crypto Index Fund with XBET being its propos

Via BitcoinMagazine – 6:40 pm May 10, 2019
n nn nn Cryptocurrency exchange Binance has revealed that it will be revamping its security network to prevent a recurrence of the 7,000 BTC hack it experienced on May 78, 2019.Per a blog post on its official website, the exchange announced that it will be implementing significant changes to its fundamental security infrastructure, including its two-factor authentication 2FA process, its Application Programming Interface API and withdrawal validation processes.It

Via BitcoinMagazine – 2:30 pm May 10, 2019
n nn nn n nnSummaryBitcoins strong uptrend resumes as, once again, the market has claimed new highs in the $5,900 zone.Our market structure remains bullish as we have consistently created higher highs and higher lows. Specifically, the market structure has progressed in a sort of stair-stepping fashion that has created multiple zones of support that have been tested several times on the 4-hour time frame.On a macro scale, we are in the process of beginning to t

Via BitcoinMagazine – 2:30 pm May 10, 2019
n nn nn Blockstream&x27s Liquid Network has expanded to include 14 new members. With these additions, Liquids client base now boasts 35 institutions.The company also announced that Liquid is now available on Bitfinex and RenrenBit, a crypto finance app. Essentially, it means that users of these platforms can now access Liquid Bitcoin withdrawals and deposits.In addition, the news heralds some of the networks future projects, including the launch of Tether USDT

Via BitcoinMagazine – 2:30 pm May 10, 2019
n nn nn Bitfinex is forging forward despite its ongoing row with the authorities, and it&x27s looking for investors to support its efforts.Today, May 8, 2019, iFinex, the operator and parent company of the popular cryptocurrency exchange, released a private token sale white paper, putting to rest rumors of its Initial Exchange Offering IEO. Bitfinex is launching the token sale in a bid to compensate clients whose funds disappeared as part of the $850 million l

Via BitcoinMagazine – 2:30 pm May 10, 2019
n nn nn Chinese crypto exchange Binance suffered a major hack on Tuesday, which the companys CEO responded to by proposing a rollback of the Bitcoin blockchain to rectify a suggestion that riled up the community.The company formally notified the public via an announcement on the evening of May 7, 2019, claiming that the hackers had employed a diverse range of tactics from outright viruses to social engineering techniques such as phishing scams. In addition to gai

Via BitcoinMagazine – 2:30 pm May 10, 2019
n nn nn In a handful of oil fields in the Great White North, natural gas, an otherwise wasted drilling by-product, is being put to work. But its not being used to well more oil its being used to mine bitcoin.Bitcoins a great arbitrage mechanism for these companies. Anywhere you go, oil and gas producers are having issues, Steve Barbour, founder of Canadian company Upstream Data, told Bitcoin Magazine.Upstream Datas ohmm mining skids, as they are called, help these

Via BitcoinMagazine – 2:30 pm May 10, 2019
n nn nn WeChat, the 1 messaging app in China, is also widely used for cryptocurrency transactions. Recently, WeChat Payment has revised the WeChat Agreement for Payment Service, which involves the control and regulation of illegal transactions, including cryptocurrency transactions. The revised agreement will be put into effect on May 31, 2019.According to the first, second and third terms of the agreement, direct or disguised engagement in internet gambling, porn

Via BitcoinMagazine – 2:30 pm May 10, 2019
n nn nn In other articles and on social media, some people have called into question Craig Wright&x27s character on a personal level and tried to establish patterns of fraudulent business practices not specifically related to the matter at hand. While my research led me to examine these allegations, I decided to narrow the focus of this particular article on evidence solely as it relates to Wright&x27s claims that he is Satoshi Nakamoto, the creator of Bit

Via BitcoinMagazine – 2:30 pm May 10, 2019
n nn nn This article was originally published by 8btc and written by Vincent He.Since May 1, 2019, bitcoins price has been rising, reaching a top of over $6,000. As the whole cryptocurrency industry was enjoying the rise, an unexpected hack put a stop to the rise of bitcoin. The major exchange Binance was hacked for $40 million.Binance has issued an announcement revealing more information about the attack. The announcement said that a large-scale security bug was

Via BitcoinMagazine – 2:30 pm May 10, 2019
n nn nn Hut 8 Mining named after Hut 8 in Bletchley Park, where Alan Turing broke the enigma code and accelerated the end of World War II has just filed its audited financial statements for 2018, detailing a tight but still profitable bitcoin mining business.For most mining companies, 2018 was a difficult year. But Hut 8 hung in and, despite having to do a write down, was able to post a small profit.According to Hut 8, it is currently the largest bitcoin mining co

Via BitcoinMagazine – 2:30 pm May 10, 2019
n nn nn Several major cryptocurrency traders have reportedly begun discussing plans to enact an industry-wide blacklist of suspicious actors, to stem the tide of scams, theft and fraud in the crypto space.Bloomberg reported on this development on May 8, 2019, claiming that major companies such as Ripple, Cumberland DRW and Galaxy Digital Holdings gathered to discuss some of the practical applications of such a blacklist. Similarly, alternate plans were also discus

Via BitcoinMagazine – 9:11 pm May 3, 2019
n nn nn Bitcoin is the worlds most popular digital currency. Its also the original decentralized and digitally scarce asset. That means no single person, authority or organization can control or create more of it. For these reasons, Bitcoin holds the potential to upend our traditional financial systems, the same systems and practices that have plagued people for centuries.If you read Bitcoin Magazine, chances are you probably know a lot about this stuff.Founded by

Via BitcoinMagazine – 9:11 pm May 3, 2019
n nn nn n nnSummaryBitcoin continues to see strong buys following the news that shook out the market just one week ago. The short count continues rise and the bears are now drowning a slow, steady climb to new highs. Once these shorts close, we will very likely see a cascade of buy orders hit the market, known as a short squeeze.Now that weve climbed out of the no-mans-land described over the last few weeks, we are encountering a potential area where supply mig

Via BitcoinMagazine – 9:11 pm May 3, 2019
n nn nn Wall Street Market, the second-largest darknet in the world in recent months, has been shut down by international law enforcement agencies, including Europol as well as U.S., German, Dutch and Romanian law enforcement. Three suspected operators of the online marketplace for illegal goods and services have been arrested in Germany, while some of the highest-selling suppliers of narcotics were arrested in the United States.Darknet markets are the digital bla

Via BitcoinMagazine – 9:11 pm May 3, 2019
n nn nn While the Crypto Winter may be lingering with us into the spring, crypto exchanges are doing just fine. According to CoinMarketCap, there are now 255 major crypto exchanges. Thats a notable increase from a year ago, when there were 208.A booming exchange industry sounds like a positive, but we can do with fewer exchanges for cryptocurrencies to establish themselves as a dominant force in the global financial system.For crypto to truly thrive, the ecosystem

Via BitcoinMagazine – 12:55 am May 3, 2019
n nn nn According to a study released by Longhash on April 29, 2019, the relative usage of CoinJoin out of all bitcoin transactions has tripled in one year, currently sitting at 4.09 percent.CoinJoin was first proposed in mid-2013 as part of many solutions to solve the issue that bitcoin transactions are not genuinely anonymous. Considering that transaction histories can be easily traced on the public ledger, anyone with the technical know-how and resources can pe

Via BitcoinMagazine – 12:55 am May 3, 2019
n nn nn Grayscale Investments is weighing in on the gold versus bitcoin debate. Its two sats Drop the bars, buy the bits and the dip.The Digital Currency Group off-shoot has launched a Drop Gold campaign that encourages investors to ditch the old asset for its digital counterpart, bitcoin.Everyone loves a piece of gold jewelry, but is gold really the best investment in todays digital world This is the rhetorical question that the website challenges its readers to

Via BitcoinMagazine – 12:55 am May 3, 2019
n nn nn In Canada, individual provinces are responsible for energy issues, and their interest in Bitcoin mining is growing as several provincial governments have already offered low-cost energy incentives to attract mining operations to their provinces.Quebec, the largest Canadian province, wants in on the action and has overruled its energy provider Hydro-Qubecs request for a rate increase for Bitcoin businesses, in order to allow Bitcoin miners to have the same

Via BitcoinMagazine – 12:55 am May 3, 2019
n nn nn U.S. Attorney&x27s office for the Southern District of New York has charged two individuals for providing shadow banking services to crypto exchanges.According to a statement by Geoffrey S. Berman, the U.S. Attorney for the Southern District of New York, published on April 30, 2019, Reginald Fowler and Ravid Yosef allegedly ran a shadow bank that processed hundreds of millions of dollars of unregulated transactions on behalf of numerous cryptocurrency

Via BitcoinMagazine – 12:55 am May 3, 2019
n nn nn Were a month and some change away from Bitcoin 2019 a conference made by Bitcoiners, for Bitcoiners. The conference will rekindle the same spirit of a similar Bitcoin conference that ended five years ago. Inspired by this earlier series, Bitcoin 2019 is rooted in the same ethos that has made Bitcoin the tried and true paragon of the crypto economy since its inception in 2009.With discussions ranging from technical, economic, political and social topics, th

Via BitcoinMagazine – 12:55 am May 3, 2019
n nn nn Today, May 2, 2019, marks the official release of Bitcoin Core 0.18.0, the 18th generation of Bitcoins original software client launched by Satoshi Nakomoto almost 10 years ago, and still the dominant Bitcoin implementation on the network today. Overseen by Bitcoin Core lead maintainer Wladimir van der Laan, this latest major release was developed over a span of about six months, by over a hundred contributors.Bitcoin Core 0.18.0 includes the typical range

Via BitcoinMagazine – 12:55 am May 3, 2019
n nn nn Crypto security and intelligence firm CipherTrace has published its Q1 2019 Cryptocurrency Anti-Money Laundering Report, revealing that exchange platforms all over the world have lost nearly $400 million as a result of hacks and thefts.Hacks Are Making BankAccording to the firm, the report is based on an analysis of 164 million Bitcoin-based transactions.It paints a particularly bleak picture of asset security, revealing that in 2019 so far, thefts incurre

Via BitcoinMagazine – 12:55 am May 3, 2019
n nn nn In a bid to carry out their agendas, crypto firms have turned to lobbying. Citing statistics from the Federal Electoral Commission FEC, news platform Roll Call reported that fintech firms spent $42 million as lobbying expenses in Q1 in 2019 alone.The report considered the lobbying efforts of firms such as U.S.-based cryptocurrency exchange Coinbase, Bitcoin payment app Square, MasterCard, IBM and others. Per the report, of all the 80 companies that admitte

Via BitcoinMagazine – 12:55 am May 3, 2019
n nn nn Delphi Digital has returned with another installment of its unspent transaction output UTXO reports. Recalling its report from January of this year, the research firm says bitcoins market cycle is right on track. The prior report called Q1 as the bottom of the bear market, and this claim was later corroborated by Adamant Capitals own evaluation.As before, Delphi Digitals evaluates UTXOs as presages of market buying and selling, and by extension, the future

Via BitcoinMagazine – 12:55 am May 3, 2019
n nn nn As part of its efforts to be regulatory compliant, Malta-based crypto exchange Binance has partnered with Blockchain startup Elliptic. According to a Coindesk report, the partnership will help Binance mitigate anti-money laundering AML concerns as it expands into new regions.Binance announced a similar partnership with cyber security firm CipherTrace on April 11, describing it as a step towards achieving proper AML compliance.In the companys announcement,

Via BitcoinMagazine – 8:25 pm May 1, 2019
n nn nn A Medium post published by Spencer Bogart, a general partner at Blockchain Capital, compares data collected from a set of surveys from October 2017 and April 2019 containing identical questions plus a few new ones. The results, compiled from an online survey taken by 2,029 American adults, reveal that Bitcoin has been growing in the eyes of the public, despite its shrinking price.Overall, the results show that more people have heard about Bitcoin now than

Via BitcoinMagazine – 6:25 am May 1, 2019
n nn nn Federal tax season just passed in the United States, but if youre one to leave responsibility to the wayside and had to apply for an extension, that might just pay off.Itll give you the opportunity to become one of the inaugural users of a new joint-endeavor by crypto payment processor BitPay and tax services company Refundo. The new program called CoinRT gives Refundo users the opportunity to take their federal and state income tax refunds in bitcoin.&amp

Via BitcoinMagazine – 6:25 am May 1, 2019
n nn nn Bitfinex and Tethers legal counsel has written a response to the New York Attorney Generals NYAG ex parte order, which claims that Bitifinex used Tethers reserves to cover some $850 million in losses.In short, the affidavit writes off the NYAGs concerns, calling them baseless and requesting an Order to Show Cause that would require the NYAG to prove its case in court unless it vacates or modifies the ex parte order. Additionally, it requests that the Supre

Via BitcoinMagazine – 6:25 am May 1, 2019
n nn nn n nnSummaryFollowing unconfirmed claims by the NYC Attorney General regarding Bitfinex and Tethers insolvency, the bitcoin market had a knee jerk reaction that caused us to retest macro support. However, this pullback barely made a scratch on the market structure as we didnt manage to break our trend of higher lows.The move was swift, but after a few days of sideways consolidation, the market is now seeing a retest of macro resistance in the $5,300 leve

Via BitcoinMagazine – 3:39 pm April 30, 2019
n nn nn An official announcement published on April 29, 2019, has revealed that the United States Securities and Exchange Commission SEC has temporarily suspended the trading of shares in Bitcoin Generation BTGN, a blockchain-based company out of Oklahoma.The company also operates a crypto exchange platform that supports popular cryptocurrencies, and it bills itself as the first publicly traded cryptocurrency exchange.Specifically, the regulator pointed out inaccu

Via BitcoinMagazine – 11:39 am April 30, 2019
n nn nn The latest edition of Targeting scams, an annual report released by the Australian Competition and Consumer Commission ACCC revealed that the country saw a 190 percent increase in cryptocurrency scams, with a total of $6.1 million AUD $4.3 million USD lost to crypto criminals.This marks a substantial rise from the $2.1 million AUD $1.48 million that was reportedly lost to scams in Australia back in 2017. The increase came even amid last years crypto winter

Via BitcoinMagazine – 11:39 am April 30, 2019
n nn nn A series of op eds by Kyle Torpey addressing some of the oft-repeated arguments against BitcoinBitcoins core value proposition is that it is an uncontrolled, apolitical money. To some people, this means Bitcoin is only useful to people who want to get around various regulations imposed on the worlds financial systems and society more generally.And in a way, these Bitcoin critics have a point. Bitcoin can be quite useful for criminals, much like physical ca

Via BitcoinMagazine – 6:09 pm April 29, 2019
n nn nn New York-based online brokerage firm E-Trade Financial Corp. has plans to launch trading services for digital assets, Bloomberg reports. Bitcoin and ether will be the first assets to be supported by E-Trades crypto trading service, but the firm has plans to list other assets in the future. This announcement comes on the heels of a report that TD Ameritrade is testing crypto trading on its platform.A tweet by New York Times reporter Nathaniel Popper suggest

Via BitcoinMagazine – 12:43 am April 27, 2019
n nn nn The New York Office of the Attorney General AG wants to take a closer look into the business operations of Bitfinex and related stablecoin issuer Tether USDT. According to a legal petition filed with the Supreme Court of New York, the NY Attorney General Office of Letitia James is applying for a court order to investigate Bitfinexs suite of interrelated companies including its umbrella firm iFinex and Tether Holdings Limited for ongoing fraud to the tune o

Via BitcoinMagazine – 10:43 pm April 26, 2019
n nn nn Major darknet markets come and go in eras, so it seems, and the current one may be ending.Two of the biggest digital black markets seem to be disappearing, both at the same time. While it is notoriously hard to find reliable information about the status of these highly illegal endeavors, messages on darknet-specific forums like Dread and reports by darknet-focused news sites like Deep Dot Web indicate that digital black markets Dream Market and Wall Street

Via BitcoinMagazine – 10:43 pm April 26, 2019
n nn nn On April 24, 2019, the first bitcoin ATM in the Islamic Republic of Iran was revealed at the 12th International Exhibition of Exchange, Bank and Insurance in Tehran.Footage of the event was captured by a film crew working for German news agency Ruptly, a part of Russia Todays greater media network. Intrigued crowds were seen lining up to see the functionality of this machine, which was emblazoned with the message that the BTM was itself made in Iran, not w

Via BitcoinMagazine – 10:43 pm April 26, 2019
n nn nn Cryptojacking the process of infecting computers with malware to mine cryptocurrency has declined alongside prices during cryptowinter. But like any dextrous organism facing extinction, the virus and its propagators are adapting.According to a report by cybersecurity analytics firm Symantec, cryptojacking incidents have plummeted 52 percent since January 2018, but the method of delivery, the execution and the targeting schemes have grown more sophisticat

Via BitcoinMagazine – 7:17 pm April 26, 2019
n nn nn Coinme has announced that its partnership with Coinstar is paying out major dividends, allowing them to continue expanding their goals to make bitcoin kiosks a commonplace sight in the United States.The partnership between the two companies began in early 2019, combining Coinmes bitcoin ATM experience with Coinstars nationwide fleet of 20,000 coin-to-cash kiosks.In a press update on April 24, 2019, Coinme stated that it has experienced strong national mome

Via BitcoinMagazine – 6:32 am April 26, 2019
n nn nn Telecom giant Samsung has invested 2.6 million euros $2.9 million into crypto wallet manufacturer Ledger, the French financial publication Capital reports. The investment gives the France-based startup a nearly $290 million valuation, per the report.The news came shortly after CoinDesk Korea reported that Samsung is developing a blockchain platform and native digital asset of its own. The project, which is being conducted by the South Korean tech giants bl