World’s Largest Blockchain Loyalty Program Launches in Australia

World’s Largest Blockchain Loyalty Program Launches in Australia
Source: Bitcoinprbuzz.com

Bitcoin Press Release: Sydney-based loyalty program EZToken has announced the launch of its loyalty reward program. Monday, June 25, 2018, Sydney Australia – Australian blockchain company EZToken has announced the launch of its global cryptocurrency loyalty program (EZToken Rewards) in Australia. EZToken Rewards is currently the world’s biggest blockchain loyalty program, based on the size of its network. Members are rewarded with EZToken cryptocurrency rather than loyalty points for transacting with participating retailers. Unlike loyalty points, the value of EZToken constantly changes as EZToken is actively traded on digital exchanges around the world. With real potential to become one of the most popular loyalty currencies in the world, members who earn EZToken can hold the digital currency, trade it at participating retailers or transfer to other EZToken Rewards members. EZTokens are also more efficient than traditional loyalty points, as they…

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UK’s Cryptocurrency Task Force Concerned Over Recent Exchange Hacks

UK’s Cryptocurrency Task Force Concerned Over Recent Exchange Hacks
Source: Bitcoinist.com

The latest hacks in the cryptocurrency industry have had some British MPs questioning whether customers’ funds are safe. The word “hack” has the ability to send fear into the hearts of many a cryptocurrency holder. Were you affected? Are your funds safe? Will you be compensated if you’re a victim? These are thoughts that run with frightening speed through your mind until you get confirmation. However, in today’s age of regulation, holders are not the only people on alert. Authorities with their eye on virtual currencies are always ready to ask questions when things go south, as was the case with the recent security breaches of both Bithumb and Coinrail. Cold Storage is Required According to Stuff, Iqbal Gandham, the chairman of CryptoUK, sought to reassure authorities by providing some insight. The self-regulating agency represents a range of cryptocurrency trading…

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Quebec Is Weighing A Plan to Sell 500 Megawatts to Crypto Miners

Quebec Is Weighing A Plan to Sell 500 Megawatts to Crypto Miners
Source: Coindesk.com

Quebec’s public power utility has submitted plans to the provincial government that could clear the way for Hydro-Quebec to set up a new framework through which to work with cryptocurrency miners. The plan, if approved, would create a selection process by which Hydro-Quebec will parcel out 500 megawatts worth of power to crypto miners. In a statement last week, the utility said its pitch to the Régie de l’énergie that, if approved, would allow miners to submit bids that Hydro-Quebec would consider based on their ability to create jobs and economic benefits to Quebec. Hydro-Quebec suggested that it is seeking a speedy solution to the issue – the subject of a moratorium on new approvals issued earlier this month, citing an “unprecedented” level of demand. The utility also wants to put a cap on the amount of power that crypto-miners…

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US Secret Service Wants Anonymous Cryptocurrencies Tackled by Congress

US Secret Service Wants Anonymous Cryptocurrencies Tackled by Congress
Source: Livebitcoinnews.com

A lot of crypto enthusiasts desire privacy when using their coins, but law enforcement has other ideas. The US Secret Service recently asked Congress to tackle anonymous cryptocurrencies. One of the original benefits touted about cryptocurrency was that one could be completely anonymous in how it was used. Such has proven not to be the case as transactions can be tracked across the blockchain. This has led to a rise in privacy-focused coins, such as Monero and Zcash. However, governments and law enforcement are leery about these anonymous cryptocurrencies. Wanting Legislative Help The US Secret Service is not thrilled by the use of these anonymous cryptocurrencies, and they’re asking Congress to do something about it. From their viewpoint, such virtual currencies are used for illegal things. The deputy assistant director for the Office of Investigations for the Secret Service, Robert…

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Chinese Police Arrest Crypto Miner for Power Theft

Chinese Police Arrest Crypto Miner for Power Theft
Source: Coindesk.com

Authorities in China have arrested a man for allegedly stealing a significant amount of power in order to fuel a clandestine cryptocurrency mine. Police in the eastern Chinese province of Anhui Province seized more than 200 computers used for bitcoin and ether mining after the local power grid company reported a spike in electricity use, according to Xinhua news agency. One suspect allegedly stole 150,000 kW hours of electricity between April and May 2018, when the power grid first alerted police of the theft. The Chinese national, identified only by his surname Ma, reportedly told police that he dreamed of making money through crypto mining. He bought the hardware in April, but later found out the daily power cost was over 6,000 yuan ($921). As a result, Ma said, his mining operation was not profitable at the time of his…

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Coinhive Users Speak Up After Being Investigated by Japanese Police

Coinhive Users Speak Up After Being Investigated by Japanese Police
Source: Bitcoin.com

The Japanese Police have been cracking down on users of remote mining software apps, such as Coinhive, without their website visitors’ consent. After being investigated and having their property impounded, users are speaking up about the unfairness of the investigation. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Problems with the Investigations and Arrests The Japanese police have been actively investigating website owners using programs such as Coinhive to mine cryptocurrencies without their site visitors’ consent. Recently, the police from 10 prefectures reportedly caught 16 people using such programs; three were arrested while the others had their information sent to the prosecutors. However, some experts are voicing concerns about how the police handle these cases. Famous Japanese security researcher Dr. Takagi Hiromitsu recently pointed out a few key problems. Firstly, he noted that the police only started investigating Coinhive after antivirus…

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Bitcoin Fans in Kiev Set to Create Statue of Satoshi Nakamoto

Source: Crypto-news.net

Satoshi Nakamoto is set to receive a “digital statue” in the capital of Ukraine, Kiev. The creator of the world’s first decentralized cryptocurrency Bitcoin will replace what used to be a statue of Vladimir Lenin. During the Ukraine civil unrest in 2013/14, Lenin’s statue was toppled and has remained this way since, but this is soon to be changed. The placement of the statue and the development of a connected app allowing you to see it are facilitated by a group called Satoshi Nakamoto Republic. Their global plans are to create monuments in cities across the world, but also to establish a real governmental body, a decentralized country. The statue will be available for everybody to see through a mobile app and it’s being made in collaboration with a Ukranian VR/AR company Racoon World.  We don’t exactly know how they are going to present…

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South Korea to Invest $230M in Blockchain Technology Development

South Korea to Invest $230M in Blockchain Technology Development
Source: Bitcoinist.com

The Ministry of Science and ICT of South Korea revealed a Blockchain Technology Development Strategy on June 21st earmarking a total of 230 billion Won (over of $200M USD) for the development of blockchain-based technology.    Multiple Initiatives The Government announced that it plans to finish the fundraising by 2022. In an attempt to further the development and advancement of blockchain-based technology, the Korean government plans to nurture over 10,000 industry professionals and 100 companies. Furthermore, the country’s plans are to streamline the investments into a few different directions. The overall aim is to increase the country’s competitive edge in blockchain technology. 1 – Pushing Pilot Projects Starting next year, the ministry plans to expand the scale and to further the support for six blockchain pilot projects. They are spread across different fields, highlighting the cross-industry benefits of blockchain technology. The projects…

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Analyst Todd Gordon Predicts Bitcoin Price Rebound to $10,000

Analyst Todd Gordon Predicts Bitcoin Price Rebound to $10,000
Source: Livebitcoinnews.com

The negative year for Bitcoin continues to plod along as the coin recently hit a four-month low. However, analyst Todd Gordon still believes that a Bitcoin price rebound to $10,000 is coming. It goes without saying that 2018 hasn’t been the kindest year to Bitcoin. The number one cryptocurrency by market cap nearly reached $20,000 back in mid-December 2017. Since then, the value has dropped to $6,189 (at time of writing). While there are plenty of doom-and-gloom predictions being written, not everyone believes that the crypto ride is bottoming out. Standing by Bitcoin Price Upswing Analyst Todd Gordon of tradinganalysis.com recently spoke to CNBC. He said that he fully expected Bitcoin to drop in value, as what has happened this year. Gordon told CNBC that he always thought the cryptocurrency would drop below $5,000 to shake out a lot of…

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The Poor Flip, the Rich Hodl, Startup Finds Out Tracing Its Tokens

The Poor Flip, the Rich Hodl, Startup Finds Out Tracing Its Tokens
Source: Bitcoin.com

The team of a young Ukrainian crypto company has made an effort to collect some interesting data about what happened with their tokens after the sale. It turns out investors from developing countries are inclined to sell the coins within months after their listing, while buyers from developed nations tend to hold them longer. Also read: No License Needed to Mine Cryptocurrencies in Ukraine Ukrainian Startup Tracks Its Coins What happens with your tokens after they are sold and listed on exchanges? That’s a question any decent ICO project should be interested in finding an answer to. Not all teams are so curious, once the coins are dumped on the market, but there are examples of the opposite. REMME is a Ukrainian startup building an open source distributed Public Key Infrastructure protocol with a set of Dapps enabling passwordless authentication…

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Winklevoss Twins Win Yet Another Crypto Trading Patent

Winklevoss Twins Win Yet Another Crypto Trading Patent
Source: Btcmanager.com

Famous cryptocurrency duo Tyler and Cameron Winklevoss have successfully registered yet another patent related to crypto investment with the US Patent and Trademark Office. The new patent, which was announced on the USPTO website on June 21, 2018, is related to the creation of exchange-traded products linked to digital assets. BTCManager earlier reported that the Winklevoss twins have racked up a slew of patents related to the Gemini Exchange which they own. It is also in line with their stated ambition to create a Bitcoin exchange-traded fund (ETF). Winklevoss Brothers (Source:  The Verge) Route Toward ETF While the broader goal of creating an ETF has not quite materialized for the duo, the patents they have been granted recently make up a crucial part of the strategy toward building the framework for the ETF. Officially awarded on June 19, 2018, to…

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Bitcoin Price to Drop to $4,000 Before Bouncing to $10,000 According to Senior Analyst

Bitcoin Price to Drop to $4,000 Before Bouncing to $10,000 According to Senior Analyst
Source: Bitcoinist.com

As Bitcoin price continues to decline, senior analyst Todd Gordon shares his take on the current market conditions – and where the price of Bitcoin will go from here. Todd Gordon, founder of TradingAnalysis.com, appeared on CNBC’s Stock Draft on June 22 during which he predicted that Bitcoin (BTC) will fall to $4000 before experiencing a rebound that will take it to over $10,000 by 2019. “Very Technical Market” Speaking by phone with CNBC’s Tyler Mathisen, Melissa Lee, and Michelle Caruso-Cabrera, Gordon explained that he expects Bitcoin’s price to continue dropping in the short term, shaking off a lot of long positions in the process. He also said that he believes that “technicals will kick in” around the $4,000 mark, essentially driving the price above $10,000 by 2019. Gordon also noted that this is a “very technical market” and, as such, it is possible…

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Bitcoin Price Watch: Currency Remains Where It Is

Bitcoin Price Watch: Currency Remains Where It Is
Source: Themerkle.com

At press time, the father of cryptocurrencies hasn’t moved from its previous position, and is still trading for approximately $6,100. It’s disappointing in the sense that everyone wants bitcoin’s price to spike, but it’s also a positive sign that bitcoin is not dropping any further… At least for now. Forbes contributor Peter Tchir attributes bitcoin’s price drop to a lack of interest in the coin. Intrigue has ultimately “melted” over the past few months, and he says adoption rates are very low. “To a large extent, bitcoin has lost its way,” he exclaims. “Very few believe it to be an efficient means of buying or selling anything.” He mentions that interest in the coin about a year ago was simply teetering on curiosity. Six months ago, people were “desperate” for information, though now, he claims everyone has seemingly moved onto…

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Silicon Valley Whales Buy Diamonds in the Millions With Bitcoin

Silicon Valley Whales Buy Diamonds in the Millions With Bitcoin
Source: Bitcoin.com

2018 might not be the best year for crypto investors so far, but a lot of wealth is still in the hands of long-term holders. The latest example of this comes from Silicon Valley where some people are using bitcoin to buy millions worth of expensive timepieces, diamonds and other luxury items. Also Read: This Week in Bitcoin: McAfee Backs Off, Crypto World Cup and the Mystery of 21e8 Crypto Surpasses Credit Cards Stephen Silver Fine Jewelry, a Silicon Valley-based ultra-high-end watches and jewelry boutique which implemented cryptocurrency payments back in 2014, reports that crypto transactions have grown to 20% of sales in the past year, helping the company close expensive sales. The company accepts payments in cryptocurrencies such as BTC, BCH and XMR, but only from authorized and approved Bitpay wallets. It started doing so as an easier and…

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EOS “Constitution” Blocks 27 Accounts

Source: Btcmanager.com

The controversies surrounding EOS cease to decrease, as the blockchain protocol raised eyebrows on June 22, 2018, in regard to its rather centralized approach to governance. Governing Like a Bank According to the “Emergency Measure of Protection Order” released by the EOS Core Arbitration Forum (ECAF), 27 block producers maintaining the protocol were directed to end all transactions with immediate effect. Interestingly, the ECAF did not explain the reason for the order, but stated that the “logic and reasoning for this Order will be posted at a later date.” The ECAF Interim Emergency Arbitrator, Sam Sapoznick, signed the declaration: “It is hereby ordered that the EOS Block Producers refuse to process transactions for the following accounts and keys indefinitely. (Until further official notice and instruction from the ECAF.)” Critics Call Out Move Members of the cryptocurrency community and industry observers…

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Top 7 Ways to Protect Yourself Against Cryptojacking

Top 7 Ways to Protect Yourself Against Cryptojacking
Source: Themerkle.com

Cryptojacking is on the rise. In fact, it’s now one of the fastest-growing types of cybercrime. And here’s the real kicker: you don’t have to be involved in cryptocurrency to become a victim. In fact, just about as idyllic as Satoshi’s white paper, cryptojacking is completely blind to status, wealth, or centralized organizations. According to Steve Morgan, Founder and Editor-in-Chief at Cybersecurity Ventures, “Cryptojacking is one of the fastest-growing cybercrimes globally, and the resulting theft of cryptocurrency is incalculable at this time. But, cybercrooks beware, law enforcement agencies have ramped up … the surveillance, capture, arrest, and prosecution of financial cybercriminals … and the online perpetrators can expect stiff sentences for cryptojacking.” What Is Cryptojacking Again? If it sounds faintly familiar, that’s probably because you heard about electric car manufacturer Tesla getting cryptojacked back in February. Or perhaps about the…

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Swiss Economy Head Wants Switzerland to Become a Crypto and Blockchain Nation

Swiss Economy Head Wants Switzerland to Become a Crypto and Blockchain Nation
Source: Themerkle.com

Johann N. Schneider-Ammann, the head of Switzerland’s Department of Economic Affairs, has said that blockchain technology will undoubtedly penetrate the entire economy of Switzerland and make a global impact that is as big as that of the internet. Ammann noted that Switzerland has already evolved into a leader in blockchain technology and intends to continue supporting the cryptocurrency sector and companies within it. During his speech at the Crypto Valley Conference in Zug, Ammann added that the World Wide Web may have been invented in Geneva, Switzerland, but due to impractical policies and insufficient developments, the majority of internet work was done elsewhere. “Switzerland is a global leader in terms of this new technology and its economic application. We would do well to continue at pace, instead of laying the right tracks after the moment has passed. History is littered…

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Bitmain Approaching 51% of Total Bitcoin Network Hashrate

Bitmain Approaching 51% of Total Bitcoin Network Hashrate
Source: Bitcoinist.com

Bitcoin Mining giant Bitmain has mined 42% of all Bitcoin blocks this past week, steadily moving closer to controlling a majority 51% of th network hash rate.  Bitmain Moves Closer to 51% ASIC manufacturer and cryptocurrency mining giant Bitmain — claimed 42% of the total blocks found on the Bitcoin network from the past week. BTC.com and AntPool, which are both owned by Bitmain, currently comprise 26.6% and 15.3% of the network hash rate, respectively. Bitmain Technologies Ltd. — the Beijing based Bitcoin mining company reported astonishing profits in 2017, taking in between $3 and $4 billion. Bitmain has a big leg up on its competitors by manufacturing and using its own products in the mining process. It manufactures application-specific integrated circuits (ASIC) miners that are able to mine Bitcoin at a faster rate than high-end graphics processing units (GPU). It…

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Markets Update: Triple Bottom Confirmed, but Where Will It Lead?

Markets Update: Triple Bottom Confirmed, but Where Will It Lead?
Source: Bitcoin.com

Cryptocurrency bears are still clawing away at digital asset prices on Sunday, June 24 as most of the digital currency market values are down between 3-12 percent over the last 24-hours. The top cryptocurrency market held by bitcoin core (BTC) has touched a triple bottom at $5,832 during the early morning June 24 trading sessions. The last two times BTC dropped to these price ranges was in November 2017, and last February. Some traders believe a third bottom indicates significant support and cryptocurrency prices could capitulate after breaking through resistance levels. Also read: The Bitcoin-Culture Invasion: T-Shirts, Hats, Candles, Mugs, and More Triple Bottom Achieved: What’s Next for Crypto-Markets? When will the 2018 cryptocurrency bear market end? Will digital currency markets experience a bear run every four years? These are the questions many traders and speculators are asking as some are…

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EOS Suspends 27 Accounts with No Reasons Given, Community Upset over Centralization

EOS Suspends 27 Accounts with No Reasons Given, Community Upset over Centralization
Source: Themerkle.com

In a tweet, one member of an online cryptocurrency community revealed that EOS has instructed block producers to censor transactions from 27 accounts without specific reasons. The instructions read: “Pursuant to Section 3.5 of the EOS Core Arbitration Forum (ECAF) Rules of Dispute Resolution, the Emergency Arbitrator appointed to review claims (the accounts in question) finds credible evidence to support: the refusal to process transactions of any kind for the affected EOS account names and/or public keys, pending further review of the claims by an arbitrator. It is hereby ordered that the EOS Block Producers refuse to process transactions for the following accounts and keys indefinitely.” How EOS Is Able to Censor Accounts On public blockchain networks and protocols like Bitcoin and Ethereum, it is not possible to have a group of centralized individuals and authorities dictate which accounts can…

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