Australia’s Consumer Watchdog Received 1289 Crypto Complaints in 2017

Australia’s Consumer Watchdog Received 1289 Crypto Complaints in 2017
Source: Bitcoin.com

The Australian Competition & Consumer Commission (ACCC) has revealed that it received more than 1,200 complaints relating to cryptocurrencies via its ‘Scamwatch’ portal during 2017. In light of the number of complaints, the Australian Securities and Investments Commission (ASIC) has issued a warning to potential investors outlining the risks associated with cryptocurrency investment. Also Read: Tesla Hit by Hackers Who Used its Systems to Mine Cryptocurrency Australia’s Consumer Watchdog Received 1,289 Complaints Relating to Cryptocurrencies Last Year The Australian Broadcasting Corporation has reported that data obtained from the ACCC indicates that Australian citizens’ losses to cryptocurrency scams totaled $1,218,206 AUD ($955,000 USD approximately) for 2017. The number of complaints received last year has prompted Australia’s corporate regulator, ASIC, to issue a warning to potential cryptocurrency investors. John Price, the ASIC commissioner, recently described cryptocurrencies as “quite speculative products [that] can be…

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Elliott Management: Cryptocurrencies Are a Brilliant Scam

Elliott Management: Cryptocurrencies Are a Brilliant Scam
Source: Themerkle.com

The vastly different opinions on Bitcoin and other cryptocurrencies often lead to some interesting discussions. Most financial experts do not take kindly to this new form of money, though. Elliott Management, a well-known multi-billion dollar hedge fund, claims cryptocurrencies are a “brilliant scam”. Elliott Management Doesn’t Approve of Cryptocurrencies There has been a rather interesting shift taking place in the financial sector over the past few months. A growing number of cryptocurrency-related hedge funds have been popping up all over the world. With these investment opportunities, anyone can be exposed to cryptocurrency’s price volatility without having to buy Bitcoin or altcoins directly. It appears this particular business model is only getting more popular. That doesn’t mean every hedge fund in the world is confident that cryptocurrencies are worth investing in. Some of these funds, such as Elliott Management, are convinced these currencies…

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Spokesperson Confirms Bitfinex Is Client of ING

Spokesperson Confirms Bitfinex Is Client of ING
Source: Bitcoin.com

Major Dutch financial services company, ING, has confirmed that Bitfinex holds an account with the company in the Netherlands. The bank issued a statement regarding its relationship with Bitfinex after Dutch-language website Follow the Money published a report revealing that ING is providing financial services to Bitfinex last week. Also Read: Independent Ratings Agency Alerts Investors About Dangers of Tether  ING Confirms Relationship With Bitfinex Harold Reusken, an ING spokesperson, has confirmed via email that Bitfinex holds an account with the bank in the Netherlands. Mr. Reusken did not comment when asked if ING also provides services to other companies associated with Bitfinex. Mr. Reusken indicated that ING is typically willing to work with “companies that are in the value chain of cryptocurrencies,” rather than “companies that are in traditional markets and receive or do payments with cryptocurrencies.” The spokeperson said…

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Is In-Browser Mining a Good or Bad Use Case for Cryptocurrency?

Source: Btcmanager.com

You may not even know it, but the chances are that one of the websites you visited today using a browser may have used your phone or laptop to mine cryptocurrency. Mining of cryptocurrencies is not something that is new, even if the majority may not know how it is done or even heard about it. Every cryptocurrency uses blockchain technology as its backbone. The blockchain is a ledger that records new transactions called as blocks. Whenever a new block is detected on the network, miners compete with each other and by using the proof of work concept try solving it. Miners are suitably paid in cryptocurrency as a reward. Mining bitcoin, or for that matter any other cryptocurrency, requires computational power. When Bitcoin was launched in 2009, the early miners could mine bitcoin by using the computational power of…

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$1.6 Billion: Telegram ICO Ups the Ante for Record-Setting Token Presale

$1.6 Billion: Telegram ICO Ups the Ante for Record-Setting Token Presale
Source: Dailysatoshi.com

The post $1.6 Billion: Telegram ICO Ups the Ante for Record-Setting Token Presale appeared first on CCN The first multibillion-dollar token sale may be just around the corner — if reports about the Telegram ICO are to be believed, that is. Having just concluded a record-setting $850 million ICO presale, Telegram — the encrypted messaging application created by Russian entrepreneur Pavel Durov — has sent prospective investors an email informing them that The post $1.6 Billion: Telegram ICO Ups the Ante for Record-Setting Token Presale appeared first on CCN The post $1.6 Billion: Telegram ICO Ups the Ante for Record-Setting Token Presale appeared first on Your Daily Satoshi.

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Nasdaq Believes Publicly-Traded Long Blockchain Misled Investors

Nasdaq Believes Publicly-Traded Long Blockchain Misled Investors
Source: Coindesk.com

Long Blockchain is appealing a delisting decision from stock exchange operator Nasdaq which, according to a letter, believes the publicly-traded company misled its investors. In a Feb. 21 letter, Long Blockchain – one of a number of firms with public securities to ride the recent wave of investor hype around blockchain – wrote that Nasdaq ” had determined to delist the Company’s securities.” The reason: Nasdaq, according to the note, is crying foul in light of recent statements issued by the company. “The notification letter stated that the Staff believed that the Company made a series of public statements designed to mislead investors and to take advantage of general investor interest in bitcoin and blockchain technology, thereby raising concerns about the Company’s suitability for exchange listing,” the firm wrote, going on to add: “The Company strongly disagrees with the Staff’s determination and,…

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Tesla Falls Victim to Increasingly Popular Cryptojacking Trend

Tesla Falls Victim to Increasingly Popular Cryptojacking Trend
Source: Themerkle.com

Cryptojacking is quickly becoming a very serious problem in the world of security and cryptocurrency. Especially when it comes to unprotected online administration consoles, a lot of damage can be done. Surprisingly, Tesla has fallen victim to this increasingly popular trend as well. It is evident cryptocurrency mining malware will not be going away anytime soon. Tesla and Cryptojacking For those unaware of what cryptojacking is all about, it is rather easy to explain. This criminal activity revolves around infecting computers with malicious software to mine cryptocurrencies on the assailant’s behalf. Different forms of cryptojacking exist as of right now, including mining malware and browser-based scripts such as CoinHive being implemented on hacked platforms. It is quickly becoming a lucrative business for a lot of criminals, especially when they target some of the world’s biggest companies. In recent months, cryptojacking…

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Last Chance to Invest in e-Chat, ICO Ends on March 1, 2018

Source: Crypto-news.net

According to the decision made by the e-Chat management team, the main round of ICO is extended until March 1, 2018. There are a couple of reasons for that. 1) The e-Chat team is still hesitant about the e-Chat Ethereum fork. As it was mentioned before, the fork might take place right after the ICO. Due to that e-Chat has started a poll where all users have an opportunity to vote for the fork or against it. Two additional weeks of ICO will give e-Chat followers a chance to make up their mind and the team will have a better vision of the startup, which is very important for the further development. 2) The team is actively trying to enlist ECHT on various Exchange platforms. It’s a necessary condition to let the users trade ECHT as soon as the ICO…

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Markets Update: BTC Prices Dip Below $10K

Markets Update: BTC Prices Dip Below $10K
Source: Bitcoin.com

BTC prices and a vast majority of other cryptocurrencies have taken a significant dive over the past 24-hours as the entire crypto-economy shaved $75Bn from its recent highs this week. BTC/USD markets dropped to a low of $9,730. Also Read: China Censors Cryptocurrency Ads on Search Engines and Social Media Crypto-Markets See Losses Between 3-20 Percent Two days ago BTC/USD markets reached a high of $11,780 across global trading platforms, but bulls seem to have lost some of the momentum. Presently bulls are trying to get the price back above the $10K region after dipping well below that range on February 22. Trade volume is a bit thinner today as $8.5Bn has been traded over the past 24-hours. The top five exchanges swapping the most BTC today includes Binance, Bitfinex, Okex, Upbit, and Bithumb. All of these trading platforms are trading…

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Full SegWit Support with the New Bitcoin Deployment (Version 0.16.0)

Source: Btcmanager.com

After much back and forth, SegWit (Segregated Witness) was rolled out in August 2017. It is now prompting developers to assemble an almost “themed” release that will see a new level of congregation for the Bitcoin creator fraternity. Driven primarily by the imperative to scale the network, another serious benefit for users will be the fact that it opens up the possibility of a new layer that is cheaper and faster. SegWit Addresses to Become the Default Typically when Bitcoin Core rolls out changes to the digital coin’s code, it’s done on a very piecemeal basis, as disparate groups of developer volunteers merely patch improvements together. The upcoming code enhancement, billed 0.16.0, is the sixteenth big release and is approaching things a bit differently. SegWit has been an on and off promise, with much technical wrangling around the issue. Now…

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ETH or NEM? The Confusion Surrounding Venezuela’s ‘Petro’ Token Blockchain

ETH or NEM? The Confusion Surrounding Venezuela’s ‘Petro’ Token Blockchain
Source: Dailysatoshi.com

The post ETH or NEM? The Confusion Surrounding Venezuela’s ‘Petro’ Token Blockchain appeared first on CCN As recently covered by CCN, Venezuela’s Petro (PTR) oil-backed cryptocurrency is now being sold to investors in its pre-sale stage. Venezuelan leader Nicolás Maduro has stated that the government already netted $735 million from the token’ sale, without backing his claim with any evidence. The Petro is set to be used to pay taxes, fees, The post ETH or NEM? The Confusion Surrounding Venezuela’s ‘Petro’ Token Blockchain appeared first on CCN The post ETH or NEM? The Confusion Surrounding Venezuela’s ‘Petro’ Token Blockchain appeared first on Your Daily Satoshi.

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Decentralized Payment Platform Tkeycoin DAO Releases Whitepaper

Decentralized Payment Platform Tkeycoin DAO Releases Whitepaper
Source: Bitcoinist.com

On February 16, the developers behind the decentralized payment platform Tkeycoin DAO released the project’s official whitepaper. What can be found in the new document and what prospects are waiting for the network participants? The network has finally published the project documentation – White Paper TkeyCoin DAO. The document reveals the ideology of the entire decentralized platform and talks about cutting-edge technologies used by Tkeycoin. The community has been waiting for this event for more than 3 weeks and accepted it with a positive assessment. Particular attention was paid to the document by large investors, for whom favorable conditions for obtaining a permanent share in the decentralized fund Tkeycoin. What We Learned from the Tkeycoin DAO Whitepaper TBP (Tkeycoin blockchain protocol) is able to handle over 500 000 transactions per second. A feature of the protocol in its flexible, modular implementation,…

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MyEtherWallet Remains an Independent Project Despite Code Being Forked

MyEtherWallet Remains an Independent Project Despite Code Being Forked
Source: Themerkle.com

There is still a lot of confusion as to what will happen with MyEtherWallet moving forward. A lot of people fear this service will not continue on, even though there is no reason to worry. In fact, a new blog post explains that the service will remain in existence for quite some time to come. MyEtherwallet Isn’t Going Anywhere A lot of people have taken a strong liking to the MyEtherWallet service over the years. It is convenient to use, supports Ethereum as well as most ERC20 tokens, and has built-in hardware wallet authentication support for additional security. There is nothing to dislike about the project, even though there is always room for improvement. With the MyCrypto service forking the MyEtherWallet code in the near future, it is evident some people are confused as to how things will evolve. To be…

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FBI Arrests Exchange Operator for Lying About 6000 Bitcoin Hack

FBI Arrests Exchange Operator for Lying About 6000 Bitcoin Hack
Source: Bitcoin.com

Jon E. Montroll, a 37 year old from Texas, is now facing up to 30 years in jail for perjury and obstruction of justice. The operator of Weexchange and Bitfunder is accused of repeatedly lying to the SEC under testimony in an effort cover up massive client losses after being hacked.  Also Read: US Federal Authorities Arrest Man for Selling 9.99 Bitcoin Bitcoin Exchange Operator Arrested by FBI The FBI announced on Wednesday that Jon E. Montroll (aka Ukyo) was taken into federal custody for giving false sworn testimony and false documentation to the Securities Exchange Commission (SEC). He operated two bitcoin services, Weexchange which functioned as a bitcoin depository and currency exchange service, and Bitfunder which facilitated the purchase and trading of shares of businesses that listed on the platform. During the summer of 2013, hackers stole approximately 6,000…

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Cryptocurrency ATMs: The Key to Widespread Adoption?

Cryptocurrency ATMs: The Key to Widespread Adoption?
Source: Bitcoinist.com

More people have access to Internet-connected devices than have access to a bank account. This leaves a massive untapped market of potential cryptocurrency users. Cryptocurrency ATMs What does a cryptocurrency ATM look like to you? It may look like something that is unnecessary and cumbersome to use compared to online exchanges, but for someone who isn’t well versed in technology, it can be an invaluable resource and asset. News about cryptocurrencies and blockchain technologies have spread to all different demographics and regional areas. This leaves many wondering, how exactly does one acquire the Bitcoin they hear so much about. Most people in this category often lack the patience and knowledge to set up and use a fiat to crypto exchange account, leaving a large untapped market. Cryptocurrency ATMs are a perfect gateway for the average joe to acquire cryptocurrencies for…

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Venezuela Is Talking With Russia About Cryptocurrency

Venezuela Is Talking With Russia About Cryptocurrency
Source: Coindesk.com

Officials from the Venezuelan and Russian governments discussed the former’s newly-launched cryptocurrency during a meeting in Moscow this week. Venezuelan Finance Minister Simon Zerpa Delgado was in Moscow on Wednesday discussing collaboration between the two governments, according to tweets published through his official account. According to one missive, the subject of the petro – which was unveiled in December and sparked global headlines with its launch Tuesday – was brought up during the meetings. Delgado tweeted (according to a translation): “In this meeting we have reviewed the economic and financial cooperation between the two countries, with emphasis on the new [cryptocurrency] of Venezuela: the Petro. We deliver the Min. Siluánov updated information about our [cryptocurrency].” “Russia and Venezuela will continue to strengthen their trade balance,” Delgado also wrote. “We will continue advancing in the construction of a multipolar and pluricentric world,…

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Liberland: The Self Proclaimed Free State Where Bitcoin is an Official National Currency

Source: Btcmanager.com

Liberland is a small country located on the Danube River between Serbia and Croatia. The micro nation’s official money is bitcoin and it also uses bitcoin cash and ether for its financial operations and donations. Live and Let Live This year will make it three years since the self-proclaimed Free State of Liberland, or in some cases “Gornja Siga,” was created by Czech politician Vit Jedlicka. This year’s anniversary will be the country’s first ever celebration on its home soil, which is just a three-square-mile patch of land that is the product of a border dispute. We are just now finishing the draft of the constitution. Meanwhile you can take our small quiz… http://t.co/eNOlNHQzRk — Liberland (@Liberland_org) April 19, 2015 More importantly, Liberland has been using bitcoin as its official currency thus positioning itself as a crypto-political experiment writ large….

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France Cracks Down on Unregulated Cryptocurrency Futures Trading

France Cracks Down on Unregulated Cryptocurrency Futures Trading
Source: Dailysatoshi.com

The post France Cracks Down on Unregulated Cryptocurrency Futures Trading appeared first on CCN France’s chief financial markets watchdog said Thursday that it will crack down on unregulated cryptocurrency futures and derivatives trading. In a statement, the Autorite des Marches Financiers (AMF) said that it had observed a variety of online trading platforms launch cryptocurrency-based derivatives such as binary options, contracts for differences (CFDs), and Forex contracts. The agency, The post France Cracks Down on Unregulated Cryptocurrency Futures Trading appeared first on CCN The post France Cracks Down on Unregulated Cryptocurrency Futures Trading appeared first on Your Daily Satoshi.

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