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日本語 (Japanese) / Japanese Internet Giant GMO Boosts Own Bitcoin Mining Output With 7nm Rigs

« on: July 10, 2018, 07:43:36 PM »

Japanese Internet Giant GMO Boosts Own Bitcoin Mining Output With 7nm Rigs

Read More Here: https://news.bitcoin.com/japanese-internet-giant-gmo-bitcoin-mining-output-7nm-rigs/
Posted: July 10, 2018
By: Kevin Helms

Japan’s internet giant GMO has released the latest results of its cryptocurrency mining operation. The company has also started using 7nm rigs for its in-house mining business. News.Bitcoin.com talked to a GMO spokesperson to find out more details.

Legality & Taxation of Cryptos / CBOE Files Application for Bitcoin-Based ETF with SEC

« on: July 10, 2018, 07:39:29 PM »

CBOE Files Application for Bitcoin-Based ETF with SEC

Read more here: https://news.bitcoin.com/cboe-files-application-bitcoin-based-etf-sec/
Posted: July 10, 2018
By: Samuel Haig

The Chicago Board Options Exchange (CBOE) has filed an application for a bitcoin-based exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC). The SEC has requested public feedback regarding CBOE’s prospective ETF.

IOTA Forum / IOTA Tangle Transactions Nosedive as Spammers Create Parasite Chains

« on: July 10, 2018, 07:35:58 PM »

IOTA Tangle Transactions Nosedive as Spammers Create Parasite Chains

Read more here: https://news.bitcoin.com/iota-tangle-transactions-nosedive-as-spammers-create-parasite-chains/
Posted: July 10, 2018
By: C. Edward Kelso

IOTA Foundation Head, Lewis Freiberg, attempted to explain alleged scalability and transaction issues at the project. The world’s number 9 cryptocurrency by market capitalization is under some pressure to clarify why its answer to traditional blockchain technology, the Tangle, is increasingly having to deal with spammers who create parasite chains or ‘Side Tangles.’

Bitcoin Cash Forum / Preparing for the Next Bitcoin Cash Hard Fork and Upgrade Timeline

« on: July 10, 2018, 07:23:00 PM »

Read more here: https://news.bitcoin.com/bitcoin-abc-developers-publish-bitcoin-cash-upgrade-timeline/
Posted: July 10, 2018
By: Jamie Redman

Preparing for the Next Bitcoin Cash Hard Fork
The Bitcoin Cash (BCH) network is planning for another hard fork this coming November which will see a few more changes to the protocol. So far since the split on August 1 the BCH community performed two successful hard forks with one on November 13, 2017, and the other on May 15, 2018. The first upgrade fixed the network’s Difficulty Adjustment Algorithm (DAA), while the second hard fork saw a 32 MB block size increase alongside a few re-enabled Satoshi OP_Codes, and the increase default datacarriersize to 220 bytes.

The Bitcoin ABC development timeline does not reveal what will be added this November as far as features are concerned. However, the programmers do explain two key goals as for the next codebase upgrade with the first being code completion by August 15, 2018.

“Due to the higher-than-normal risk associated with protocol upgrades, everyone needs time to review the code changes involved,” explains the latest upgrade timeline.

To accommodate that, Bitcoin ABC is targeting August 15th as its code completion date — Protocol changes past this date will be recommended for next year’s May hard fork.

News related to Crypto / The Daily: Decentralized Exchanges – Hacked

« on: July 10, 2018, 07:11:08 PM »

The Daily: Decentralized Exchanges – Hacked

Source: https://news.bitcoin.com/the-daily-decentralized-exchanges-new-and-hacked-and-some-lost-coins/
Posted: July 10, 2018
By: Lubomir Tassev

View image on Twitter

On Monday, Bancor reported it had experienced a “security breach”. In a tweet, the company assured its customers that “No user wallets were compromised” and informed them that the platform is currently under maintenance.

Updating users on the situation, the exchange later said the details of the breach are still being investigated but released some of the findings. According to the tweeted statement, a wallet used to upgrade some smart contracts has been compromised and used to withdraw ethereum from the BNT (Bancor’s native token) smart contract. The stolen amount, 29,984 ETH, is worth approximately $12.5 million.

News related to Crypto / London School of Economics Launches Course realated to Cryptocurrency

« on: July 10, 2018, 07:07:29 PM »

London School of Economics Launches “Cryptocurrency Investment and Disruption” Course

Read More Here: https://news.bitcoin.com/london-school-of-economics-launches-cryptocurrency-investment-and-disruption-course/
Posted: July 10, 2018
By: Avi Mizrahi

The London School of Economics and Political Science (LSE) has launched a new online certificate course titled “Cryptocurrency Investment and Disruption” headed by Dr Carsten Sørensen, Associate Professor of Information Systems and Innovation. LSE has thus joined the growing list of top notch institutions offering crypto classes such as Cambridge, NYU, Northwestern, Stanford, Wharton and Georgetown, as well as others.

The new LSE crypto educational option seems to be quite accessible as there are no prerequisites for the course and its cost is also not unreasonable at just £1,800. It starts on 14 August 2018, and will take six weeks to complete (excluding orientation) with an estimated commitment of about seven to ten hours per week. This course is also certified by the United Kingdom CPD Certification Service, if that is relevant for you.

Are you interested in attending an academic cryptocurrency course? Share your thoughts in the comments section below.

Legality & Taxation of Cryptos / US Financial Authority Encouraged to Disclose Crypto Involvement

« on: July 10, 2018, 07:05:01 PM »

US Financial Authority Asks Brokerage Firms to Disclose Crypto Activities

Source: https://news.bitcoin.com/us-financial-authority-brokerage-firms-crypto-activities/
Posted: July 10, 2018
By: Kevin Helms

The Financial Industry Regulatory Authority (FINRA) issued a Regulatory Notice last week on digital assets.

A not-for-profit organization authorized by Congress, FINRA is not part of the U.S. government but is tasked with protecting America’s investors by making sure the broker-dealer industry operates fairly and honestly, its website describes.

With few exceptions, the Authority explains that in addition to registering with the U.S. Securities and Exchange Commission (SEC):

Every firm and broker that sells securities to the public in the United States must be licensed and registered by FINRA.

Individual registered representatives must also register with FINRA. According to its website, FINRA had 629,112 registered representatives and 3,712 member firms in April.

In the 4-page notice, the Authority emphasized that it “is monitoring developments in the digital asset marketplace and is undertaking efforts to ascertain the extent of FINRA member involvement related to digital assets,” adding:

FINRA is issuing this notice to encourage each firm to promptly notify FINRA if it, or its associated persons or affiliates, currently engages, or intends to engage, in any activities related to digital assets, such as cryptocurrencies and other virtual coins and tokens.

Furthermore, until July 31 next year, the Authority “encourages each firm to keep its Regulatory Coordinator abreast of changes in the event the firm, or its associated persons or affiliates, determines to engage in activities relating to digital assets not previously disclosed.”

Legality & Taxation of Cryptos / Indian Crypto Exchanges Forge Ahead With Solutions to RBI Ban

« on: July 10, 2018, 07:02:00 PM »

Indian Crypto Exchanges Forge Ahead With Solutions to RBI Ban

Source: https://news.bitcoin.com/indian-crypto-exchanges-solutions-rbi-ban/
Posted: July 10, 2018
By: Kevin Helms

The crypto banking ban by the Reserve Bank of India (RBI) went into effect at the end of last week. The central bank issued a circular three months ago, banning all financial institutions under its control from providing services to companies dealing in cryptocurrencies. The industry was hopeful that the Supreme Court would grant a stay on the ban on July 3 but the court did not and the RBI ban subsequently went into effect.

Wazirx announced on July 4, “We’ve discontinued INR deposits with immediate effect,” adding:

Our banking partner has abruptly stopped supporting our bank account. This is due to the recent RBI circular banning banks from providing support to cryptocurrency exchanges.

Indian Crypto Exchanges Forge Ahead With Solutions to RBI BanKoinex announced on July 7 that users can “submit INR withdrawal requests till 02.00 PM on July 9, 2018 (Monday) after which no further INR withdrawal requests will be accepted.”

Buyucoin announced last week that “Deposit and Withdrawal will be halted until further notice due to RBI circular by midnight 5th of July’18.”

Three of the first crypto exchanges to announce a suspension of fiat deposits and withdrawals were Zebpay, Pexo, and Coinome, as news.Bitcoin.com previously reported. Another major exchange, Unocoin, has yet to announce that it has stopped fiat support at press time.

What do you think of RBI’s ban and crypto exchanges’ solutions? Let us know in the comments section below.

日本語 (Japanese) / Japan: Kumamoto Electric Company and OZ Mining Corporation

« on: July 10, 2018, 06:59:27 PM »

Kumamoto Electric Company and OZ Mining Corporation to Start Mining in Southern Japan

Source: https://news.bitcoin.com/kumamoto-electric-company-and-oz-mining-corporation-to-start-mining-in-southern-japan/
Posted: July 10, 2018
By: Nathalie Stucky

Kumamoto Electric Power Company to Offer Cheap Rates
Kumamoto City in the Kumamoto Prefecture are located on the Kyushu island in southern Japan. Kumamoto Electric Power Company is also set on spreading crypto mining factories throughout Japan, according to a statement, making use of the cheapest electricity price in the country, limited to KEPCO (Kansai Electric Power Company) and TEPCO (Tokyo Electric Power Company). “Since the liberalization of the electric power market took place in early 2016, there are more and more electric power companies offering lower electric fees. In the Kyushu [Southern] region, I believe Kumamoto Electric Company offers one of the cheapest rates,” a salesperson at Kumamoto Electric Company told news.Bitcoin.com.

Japanese Ex-Financiers Started Mining Business in Northern Rural Industrial Zone
A cryptocurrency related startup company run by a group of Japanese men formerly working in the banking industry installed a crypto mining factory with 500 miners in the country side of Fukui, a Japanese coastal city located on the Chinese side of the sea, in the North. Alt Design, founded in September 2017 in Tokyo, offers various kinds of services such as crypto and ICO consultancy, but its founder and CEO Yuta Funayama decided around November of 2017 to start mining crypto in Japan. “We wanted to offer our clients and investors who are mainly Japanese a possibility to see the miners with their own eyes.”

Kumamoto Electric Company and OZ Mining Corporation to Start Mining in Southern Japan

Yuya Yamamoto, a spokesman of Alt Design, told news.Bitcoin.com in an interview: “Japanese people invest in miners abroad, but they expressed some worries saying that it’s harder to check what’s going on at the miner farms, especially if they are located outside of Japan. What we offer also, is the ‘Japanese quality’ service in which we believe the management of our miners is solid.” Alt Design has been mining litecoin and ethereum since mid-March 2018. “Our employees all have a background in IT. The miners operate 24/7 and our staff rotate daily to check if everything is running smoothly,” Yamamoto said, “we believe that our expertise is to tackle any incident quickly.” And the facility can resist natural disasters, he added. The equipment generates about 200 ETH and LTC altogether a month, he said.

Also, while searching for a place to install the plant, Alt Design found an area of Japan where the local government offers subsidies for IT companies such as paying them half of the rent if they install their business in unused local factories. The municipality of Fukui offers low business settling fees in support of new businesses, including IT companies. “We offer companies which want to settle in our city to pay up to half of their rent for three years,” Hiroyasu Yoshida, who represents the Fukui Municipality said. The electricity isn’t cheap everywhere in Japan, but the tariffs are lower in the Hokuriku region, including Fukui, which is to the north of Japan’s main island, facing China.

Banks & Cryptos / German Bank Offers Special Accounts to Cryptocurrency Firms

« on: July 10, 2018, 06:49:09 PM »

This German Bank Plans to Provide Special Bank Accounts for Cryptocurrency and Blockchain Companies

Source: https://news.bitcoin.com/german-bank-offers-special-accounts-to-cryptocurrency-firms/
Posted: July 08, 2018
By: Jamie Redman

Over the past few years as cryptocurrencies have gained in popularity a few companies like exchanges and brokerage services that deal with digital currencies have had issues with their banking providers. Banks and other financial management services have ceased their partnerships with cryptocurrency firms and have closed business accounts making it very difficult for blockchain companies to establish reliable banking partners. Now the German financial tech company, Solarisbank, plans to offer a service called the ‘Blockchain Factory.’ Companies who deal with cryptocurrencies will now have a solid banking colleague who understands the technology.

“The Blockchain Factory will be used by Solarisbank to offer banking services to companies whose business is directly or indirectly based on cryptocurrencies and blockchain technology — One example of these services is the ‘Blockchain Company Account’ for the banking business of blockchain companies,” Solarisbank explains.

Furthermore, services for global cryptocurrency marketplaces will be made available to make it easier to buy and sell fiat currencies; such as the Solarisbank ‘Automated Trust Account’, an automated escrow account for cryptocurrency marketplaces.

Blockchain Technology / Facebook’s Blockchain Division Has a New Director of Engineering

« on: July 08, 2018, 07:02:18 AM »

Facebook’s Blockchain Division Has a New Director of Engineering

Source: https://www.ccn.com/facebooks-blockchain-division-has-a-new-director-of-engineering/
Posted: July 07, 2018

Social media giant Facebook has recently promoted senior engineer Evan Cheng to director of engineering for its recently-launched blockchain division.

Earlier in May, Facebook put together a team led by David Marcus, Coinbase board member and former president at PayPal, to explore blockchain technology and its potential use cases for the platform. The team consisted of less than a few dozen people and included senior executives from Instagram. The team was said to directly report to Mike Schroepfer, CTO of Facebook.

In an executive reshuffle, Facebook appointed Evan Cheng as the director of engineering and Kevin Weil, formerly VP of product at Instagram, as the VP of product at their blockchain division. According to his LinkedIn page, Cheng has been employed at Facebook since November 2015 and has been working at their programming languages and runtimes division. He also worked at Apple for over 10 years and is credited as one of the inventors of LLVM, a compiler that generates the low-level machine code for Apple devices. Cheng is also listed as an advisor to blockchain projects Zilliqa and ChainLink.

In a Facebook post earlier this year, Mark Zuckerberg stated that he would take up a personal challenge to study cryptocurrencies this year. He remarked that centralization and centralized systems are a key problem today and that he would examine this technology to accelerate decentralization and “put more power in people’s hands.”

He said:

“There are important counter-trends to this –like encryption and cryptocurrency — that take power from centralized systems and put it back into people’s hands. But they come with the risk of being harder to control. I’m interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.”

As CCN reported, Facebook recently reversed its ban on cryptocurrency ads on their platform. The ban was initially placed to protect its users from fraud and theft. Facebook admitted that the ban was intentionally broad and they would revisit the policy while they “work to better detect deceptive and misleading advertising practices.” Once the ban was lifted, Facebook announced that they would allow pre-approved applicants to advertise on their platform.

Although Facebook hasn’t announced any plans about how they would use blockchain technology on their platform, It is clear that they are pursuing this technology with interest. In the light of the data crises faced by Facebook, it is going to be interesting to see how they utilize this technology to improve their services.

Bitcoin News & Updates / Bitcoin Friendly Countries for Cryptocurrency Businesses in 2018

« on: July 08, 2018, 06:55:18 AM »

From Complete List - Bitcoin Friendly Countries for Cryptocurrency Businesses in 2018

Source: https://99bitcoins.com/bitcoin-friendly-countries/
Posted: May 23, 2018
By: Steven Hay

One of the great advantages of Bitcoin is its international nature. Wherever you are in the world, so long as you have an internet connection, you can use Bitcoin to send and receive money. That said; some parts of the world are much friendlier to Bitcoin users than others.

Anyone seeking to set up a Bitcoin business will naturally avoid those rare countries which actively discourage its use, either through burdensome regulations, harsh taxation, hostile banks, or even outright bans.

The good news is that such hostile nations are rare. Most governments are still deciding on how to approach Bitcoin and have yet to pass decisive legislation. The usual approach is to classify Bitcoin under some pre-existing category so that standing laws can be it applied to it, usually for taxation purposes.

Certain nations are however making a concerted effort to embrace Bitcoin, as they realize that Bitcoin could be of tremendous benefit to their economic future. By encouraging Bitcoin adoption and attracting Bitcoin companies, these nations seek to place themselves at the forefront of financial innovation.

This article examines the best possible countries to establish a new cryptocurrency business. We examine the tax rate on Bitcoin and the attitude of lawmakers and banks towards it. As such facts are subject to changes, sources are dated.

Countries are ordered them from best to worst, based on how low their taxes are, then by the clarity of regulations, then by friendliness of banks and finally how nice and business-friendly the country happens to be.

Tax Tip: If you’re interested in tax treaties between your nation and one of those covered below, this Worldwide Tax Summaries page by PwC should prove enlightening.
Banking Tip: To discover banks around the world which have been rated by users as either friendly or hostile to crypto, check out the
Moon Banking site. Share your own experiences with banks to improve the site.

List of countries:
1. Malta
2. Bermuda
3. Switzerland
4. Gibraltar
5. Slovenia
6. Singapore
7. Estonia
8. Georgia
9. Belaurs
10. Hong Kong
11. Japan
12. Germany

Crypto Exchanges / South Korea officially recognizes cryptocurrency exchanges

« on: July 08, 2018, 06:48:20 AM »

South Korea officially recognizes cryptocurrency exchanges

Source: https://bcfocus.com/news/south-korea-cryptocurrency-exchanges/17812/
Posted: July 06, 2018
By: Chandna

In a major breakthrough, South Korea has legitimized the cryptocurrency sector as an industry. Soon, the country will have "a set of classification standards for the South Korean Blockchain and cryptocurrency industry."

According to local website BChain, the Korean government is set to release new blockchain industry classification norms by the end of this month. Three ministries - the Ministry of Information and Communication, the National Statistical Office and the Ministry of Science and Technology - are said to have been working been working on a draft for a couple of months.

The industry will be divided in three categories, which will deal separately with decentralized apps (like the ones made on top of Ethereum technology), mining activities of different tokens and the third will include crypto exchanges and brokerages.

Meanwhile, Malta and Japan have also come up with legislations which are being touted as quite cryptocurrency and blockchain-friendly. The Financial Services Agency of Japan is working to improve a law that requires digital assets to be stored separately from other securities. Recently, Malta also announced a new legislation that is aimed at attracting blockchain-based businesses to the country.

Banks & Cryptos / Polish Bitcoin Association Goes Up Against Banks

« on: July 08, 2018, 06:42:54 AM »

Polish Bitcoin Association Goes Up Against Banks

Source: https://www.bitcoinglobalnews.com/single-post/2018/07/03/Polish-Bitcoin-Association-Goes-Up-Against-Banks
Posted: July 4, 2018

As of this weekend, the news went public that the Polish Bitcoin Association is not letting crypto consumer rights be threatened without a fight. They have reportedly appealed to a Polish government wing called the Office of Competition and Consumer Protection, which is an antitrust authority of sorts for the country.

The primary goal of this appeal is to convince the office to investigate what the PBA deems to be an illegal blockage of competition in the banking space.

What this refers to is the fact that many Polish consumers and businesses have been affected by banks refusing to run any sort of transaction that has to do with Cryptocurrencies.

The appeal specifically mentions 15 different banks and financial service providers that seemingly refused 52 different bank account applications, while also closing 25 accounts of various businesses that had dealings in Cryptocurrencies.

One of the biggest defendants related to the appeal is MBank, which the PBA alleges has personally blocked nine account applications and closed three business accounts.

At this point, the OCCP has not responded to the call, at least not publicly.

What could be good news for the PBA and the Crypto industry at large, is that the Polish government seems to be behind Crypto regulation.

Unlike some countries, Poland has indicated that it is against what it government deems, “excessive regulation.”

Therefore, if this appeal is accepted and argued correctly, then the government’s current stance on Crypto and the Blockchain could be used to support the rights of Crypto consumers.

If not, at the same time, it could be used to block the appeal from going any further.

In the end, it all comes down to whatever the Polish government decides to do with the PBA’s first filing. For the appeal to move forward, it will first have to be accepted as legitimate.

Bitcoin Forum / Chinese Investor bought 10,000 bitcoin during the dip!

« on: July 08, 2018, 06:16:50 AM »

https://www.ccn.com/chinese-angel-investor-gathers-10000-bitcoins-during-bear-q1-2018/

There was one Chinese investor who is now trending after he bought 10k bitcoin during the Q1 bear or during the bearish movement at the first quarter of the year. According to the article he was Cai Wensheng the founder of a selfie-app called Meitu which is very popular in China. This man is a good sign that bitcoin really is becoming more attractive to big enterpreneurs across the globe.