Robinhood CEO: No Plans to Make Money on Cryptocurrency Trading for ‘Forseeable Future’

Robinhood CEO: No Plans to Make Money on Cryptocurrency Trading for ‘Forseeable Future’
Source: Bitcoinist.com

Stock brokerage Robinhood launched no-fee cryptocurrency trading in February 2018 and intends to operate cryptocurrency trading as a breakeven business. Robinhood created its commission-free stock brokerage in 2013, providing major competition to existing fee-based trading platforms. Instead of making money from commission fees on stock and cryptocurrency trades, the company takes its profits from interest earned on cash balances, margin lending, and its premium services. Free Cryptocurrency Trading When Robinhood first announced at the end of January 2018 that it would be launching zero-fee cryptocurrency trading, reactions within the crypto and financial communities were swift. Within just four days of the announcement, more than one million people had signed up for early access to the Robinhood Crypto app. In the days following the app’s official launch in February, growing interest and excitement sparked a flood of new customers – as…

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Bitcoin Funded Silk Road Performance Earns a Residency at Trafalgar Studios

Bitcoin Funded Silk Road Performance Earns a Residency at Trafalgar Studios
Source: Bitcoin.com

Last December news.Bitcoin.com reported on the theatrical version of people using the deep web in a play called the “Silk Road: How to Buy Drugs Online.” Since then the play got rave reviews after appearing at the world-famous Edinburgh Fringe and the Vault festival. Now due to the show’s popularity, the performance is hosting the production at the well-known theatre London’s Trafalgar Studios for a twenty-day residency.   Also read: The Bitcoin-Culture Invasion: T-Shirts, Hats, Candles, Mugs, and More The Silk Road Theatre Production Written by Alex Oates Receives Rave Reviews Just before the end of the phenomenal 2017 cryptocurrency run news.Bitcoin.com reported on a play that appeared in the UK called the “Silk Road: How to Buy Drugs Online.” The performance has been funded entirely in BTC when an anonymous person donated funds towards the production. The play, written by…

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Robinhood Happy to Make No Money on Cryptocurrency Trading

Robinhood Happy to Make No Money on Cryptocurrency Trading
Source: Livebitcoinnews.com

Robinhood, the trading platform, is on a roll, amassing over 4 million users. The company’s co-CEO, Vlad Tenev, said that they are quite happy making no money at all on cryptocurrency trading. There are plenty of options for those seeking to trade cryptocurrencies. One negative aspect of trading is dealing with fees, which invariably add up. However, trading platform Robinhood is offering free cryptocurrency trading, and the company is quite happy not making any money off such trades. Fee-Free Trading At the beginning of this year, Robinhood shook up the cryptocurrency space by offering free trading on its platform for Bitcoin and Ethereum. The program has paid off in spades since then. Immediately after the launch of free cryptocurrency trading, the platform added 200,000 new customers per day. Robinhood has ridden the crypto wave to amazing success. The company now…

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Stellar in Negotiations to Purchase Chain for $500 Million XLM

Source: Btcmanager.com

Negotiations are underway for Stellar to purchase Chain, a blockchain tech startup, for $500 million worth of Stellar Lumens (XLM). Stellar Eyeing to Scoop Chain Engineering Talent San Francisco-based blockchain company, Chain, built a platform called Sequence. Sequence is described by Chain as a “ledger-as-a-service that enables organizations to securely track and transfer balances in a token format.” A tool like Sequence could make software development more accessible for development teams as they could focus on scaling their products rather than on maintaining ledger infrastructures. Stellar’s motivation for the acquisition of Chain remains unknown, but the purchase could be driven by Stellar’s immediate need for top-notch blockchain developers. Since there are few of those around, it is not uncommon for tech platforms to buy a firm to either integrate a firm’s existing technology or get the firm’s developers working on…

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Indian Crypto Exchanges Prepare for RBI Ban – New Trading Tools, No Fiat

Indian Crypto Exchanges Prepare for RBI Ban – New Trading Tools, No Fiat
Source: Bitcoin.com

As the start of the crypto banking ban by the Reserve Bank of India approaches, cryptocurrency exchanges in the country are preparing to stop fiat deposits and withdrawals while boosting crypto-to-crypto trading. Zebpay plans to continue crypto-INR trading pairs even after the ban. Unocoin has launched a weighted basket order tool to simplify crypto investing. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space No Fiat Withdrawals But Trading to Continue The date for India’s crypto banking ban imposed by the Reserve Bank of India (RBI) is drawing near. All regulated banks and financial institutions must stop servicing cryptocurrency exchanges by July 5. Zebpay, a leading cryptocurrency exchange in India, warned its customers this week that their “rupee withdrawals could stop,” citing RBI’s order. The exchange wrote: If Zebpay bank accounts are disrupted, rupee deposits and withdrawals will become impossible…[However]…

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South Korea: Reports of 10% Tax on Cryptocurrency Gains Are Fake

South Korea: Reports of 10% Tax on Cryptocurrency Gains Are Fake
Source: Bitcoinist.com

South Korea’s Ministry of Finance has denied reports of 10% income tax on cryptocurrency investments.  10% Tax on Crypto Grains is Fake News Taxation has been a hot topic in the cryptocurrency world this year. Governments want their piece of the pie and traders are anxious to know how badly their tax collectors plan to gouge them. Luckily, many governments have already announced their stances on the matter. Some have chosen complete leniency—as with Thailand who waived taxes on cryptocurrency gains altogether—but others have taken cruel action to deter investors as with the United States who imposed a capital gains tax on every single microtransaction. One nation that has remained relatively quiet on the matter is South Korea and that has led to a lot of speculation from Korean crypto enthusiasts. Recently, reports have been circulating, stemming from an article…

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Bitfinex Loses Chief Strategy Officer

Bitfinex Loses Chief Strategy Officer
Source: Livebitcoinnews.com

Last year, Bitfinex chose to sever relations with customers in the United States. Now the fourth-largest cryptocurrency exchange is losing their chief strategy officer (CSO), Phil Potter. The ongoing regulatory overtures by the US government has had some consequences. One such consequence was that Bitfinex, the world’s fourth-largest cryptocurrency exchange, decided to no longer do business with individuals from the USA back in August 2017. CSO Leaving Now, another consequence of the exchange turning away from working with the US is happening. The company’s chief strategy officer, Phil Potter, is leaving the company. In a statement, he says: As Bitfinex pivots away from the U.S., I felt that, as a U.S. person, it was time for me to rethink my position as a member of the executive team. In addition to leaving the exchange, Potter is also leaving his post…

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Crypto Facilities Eyes Litecoin (LTC) Derivatives Launch

Source: Btcmanager.com

Since the first bitcoin futures contracts were launched in December 2017, when the price of bitcoin saw an all-time high of $20K, more firms have joined the bitcoin derivatives bandwagon. In the latest development, a UK-based regulated trading platform that created the first Ethereum futures contracts is set to launch its Litecoin derivatives. Litecoin Futures Ready for Launch Crypto Facilities, an FCA-regulated firm that offers clients’ bitcoin (BTC), ethereum (ETH) and ripple (XRP) futures contracts are set to launch its litecoin derivative product shortly. According to a Finance Magnates report, the London-based firm is looking to make it possible for crypto traders to bet on both long and short selling of litecoin. Crypto Facilities has announced the first-of-its-kind product for the sixth largest cryptocurrency will go live on June 22, 2018, at 4 pm BST. Commenting on the milestone reached…

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Bitcoin Price Watch: Is the Recent Drop Part of a Bigger Picture?

Bitcoin Price Watch: Is the Recent Drop Part of a Bigger Picture?
Source: Themerkle.com

At press time, bitcoin is retaining its $6,100 price from yesterday. The currency fell to this position from $6,700 after Japan’s Financial Services Agency (FSA) sent notifications to more than five digital currency exchanges saying that they must heighten their security measures against money laundering after noticing weaknesses in their infrastructures. Bitcoin has continued to suffer drops over the past week. Its initial slump to $6,700 occurred after hovering at the $7,600 mark for some time, and now the price is just $100 away from its February low. While bitcoin did drop below $6,000 during yesterday’s evening hours, things didn’t last, and the coin quickly pushed itself back up to $6,100, where it has been ever since. Bitcoin has allegedly lost over 70 percent of its value since December, when it managed to strike near the $20,000 range. However, many…

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Mt. Gox Bankruptcy Ends with Possibility of $1.2 Billion in Cryptocurrency Paid to Creditors

Mt. Gox Bankruptcy Ends with Possibility of $1.2 Billion in Cryptocurrency Paid to Creditors
Source: Livebitcoinnews.com

One of the most seismic hacks in Bitcoin history was Mt. Gox, the largest exchange at the time. Now a Japanese court rules that the exchange’s bankruptcy is over, opening the door for victim payouts. There have been quite a few hacks of Bitcoin exchanges over the years, but none have had the impact like the Mt. Gox hack. The exchange was once the largest one in the world, but it collapsed after 850,000 bitcoins were stolen. Pillage and Plunder At the time, the coins were worth $473 million. Today, they’re worth a jaw-dropping $5.2 billion. However, all was not lost as 200,000 bitcoins were found and then frozen as bankruptcy proceedings began. This, naturally, left many customers holding the bag, but now there’s a ray of light at the end of the tunnel. The Tokyo District Court put a…

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6 Reasons Why Bitcoin Price is Down — (And Some Positive News Too)

6 Reasons Why Bitcoin Price is Down — (And Some Positive News Too)
Source: Bitcoinist.com

As the week comes to a close, let us reflect on and digest all the news — most of which was negative, that happened in the cryptocurrency arena affecting Bitcoin price. Oh Look, Another Exchange Hack Tuesday evening, popular South Korean cryptocurrency exchange Bithumb reported a system breach that resulted in approximately $31 million worth of cryptocurrencies being stolen. Coincidentally, in the days following the hack, there was a large marketwide dip — Bitcoin and Ethereum dropped 11 and 15 percent, respectively. Even those who don’t use Bithumb weren’t very pleased after the hack — as Bitcoin transaction speeds and fees soared, due to the exchange moving huge amounts of cryptocurrencies away from its hot wallets. On a small positive note, Bithumb promised to fully reimburse all those who had cryptocurrency stolen from them. (More) Trouble In Paradise For EOS…

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Are Centralized Exchanges Breaking the Crypto Promise?

Are Centralized Exchanges Breaking the Crypto Promise?
Source: Themerkle.com

Exchange hacks are becoming the new normal. Just two weeks after Conrail’s $37.2 million hack, it was time for Bithumb’s $31 million hack, with the difference being that Bithumb is the world’s sixth largest cryptocurrency exchange based on CoinMarketCap data, far larger than Coinrail. Last December, another South Korean exchange called Youbit filed for bankruptcy after suffering hacks. Of course, these hacks are still much smaller than the infamous Mt. Gox hack. With such a terrible track record, why would anyone still work with crypto exchanges? Bitcoin, the world’s first cryptocurrency, was a direct response to the Great Recession of 2008; as central bodies collapsed, it offered a peer-to-peer, independent alternative with which to transfer funds. Blockchain is all about decentralization and removing the intermediaries which profit off one’s earnings and impose their biased will. But by removing them, we are also…

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Korean Cryptocurrency Exchange Loses $31 Million to Hackers

Source: Btcmanager.com

The hack of Korean cryptocurrency exchange Bithumb on June 20, 2018, has once again raised concerns over the security practices of cryptocurrency exchanges. Here, the attackers made away with digital coins worth an estimated $31 million. While that figure does not eclipse the infamous Mt Gox hack of 2014, it has undoubtedly resurfaced similar investor concerns. The hack also triggered a panic selloff, which only worsened the bearish sentiment in the market. Are Cryptocurrency Exchanges Easy Targets? Korean cryptocurrency exchange Coinrail also reported a similar security breach on June 10, 2018. With the sudden onslaught of attacks, it seems as if cryptocurrency exchanges have become a prime target for hackers, mainly because they store a massive wealth in the digital currency. Cryptocurrency prices had peaked in 2017, which brought in a massive influx of investors into the market. This also…

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What Is Forging, and Is It a Viable Alternative to Bitcoin Mining?

What Is Forging, and Is It a Viable Alternative to Bitcoin Mining?
Source: Themerkle.com

As more and more people join the cryptocurrency conversation, Bitcoin mining has been thrust into the limelight. And just like everything surrounding this inherently controversial industry, it’s shrouded in misconceptions. Bitcoin mining is disastrous for the environment. It’s expensive. It’s draining the earth’s natural resources. These are all valid arguments, but they are based on blinkered statistics. It takes a lot of power to mine Bitcoin and other cryptocurrencies; that’s no lie. But when we hear cries of “A single Bitcoin uses 32 terawatts of energy each year!” and “Mining Bitcoin can power 3 million US households,” we conveniently ignore the bigger picture. Bitcoin mining is no worse than, say, the energy we use to stream movies on Netflix, heat our houses, and update our statuses. Or take our cars on short journeys, deepen our carbon footprint by flying, eating…

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Investors Should Sleep with One Eye Open as a Reckoning is Coming for ICOs.

Source: Btcmanager.com

Initial coin offerings (ICOs) have been a useful tool as they have led to an explosion of start-up companies all around the world as these companies can raise billions of dollars through this fundraising method. However, according to the president and CEO of BATS Global Markets (Cboe), Chris Concannon, the market for ICOs is about to be hit with a tidal wave of regulations. His expert level advice is important as Cboe is one of the world’s largest exchange holding companies, which offers cutting-edge trading and investment solutions to investors all over the globe. As a veteran on Wall Street and a long-time member of the crypto-community, Concannon understands that if ICOs are defined to be unregistered securities by the Securities and Exchange Commission (SEC), then the SEC may attack industry participants and lawsuits will certainly ensue. In an interview…

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The Bitcoin-Culture Invasion: T-Shirts, Hats, Candles, Mugs, and More

The Bitcoin-Culture Invasion: T-Shirts, Hats, Candles, Mugs, and More
Source: Bitcoin.com

Over the past year and a half bitcoin and cryptocurrencies have caused a serious hype that’s stretched a bit into the mainstream. These days people hear about digital currencies more often and one reason is due to all the fantastic crypto-infused products that have invaded pop culture. Cryptocurrency clothing, knitted sweaters, socks, coffee mugs, and backpacks sporting digital currency symbols, has grown quite extensive. Also read: Bitcoin in Brief: Plagiary, Numerology, and Nano Does a No-No The Crypto-Pop Culture Invasion: The Amount of Cryptocurrency Branded Products Out There Invading Our Mainstream Culture Would Make Andy Warhol Smile    Today we’re gonna talk about the massive amounts of goods available these days that show off everyone’s favorite cryptocurrencies in a fashionable sense. Back in the early days, you’d be lucky to get a bitcoin embroidered hat or a silk screened t-shirt…

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Bitcoin Price Hits Four-Month Low

Bitcoin Price Hits Four-Month Low
Source: Livebitcoinnews.com

The bears have been out in force throughout 2018, and they’re not done yet. The overall Bitcoin price hit a four-month low yesterday due to multiple issues. 2018 has not been a good year when looking at the overall Bitcoin price. The number one cryptocurrency by market cap reached almost $20,000 back in mid-December 2017, but this year has been one for the bears. Down, Down, Down Bitcoin hit a fourth-month low in price yesterday, coming in at $6,006. A lot of people predicted that the cryptocurrency’s value would rise a number of times this year, such as after the Consensus conference, but those predictions have come to naught so far. Some have claimed that there are multiple issues pushing the downward Bitcoin price. There have been a couple of exchange hacks this year, with Coinrail being targeted first and,…

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Litecoin Founder Remains Optimistic Despite Recent Bithumb Hack

Litecoin Founder Remains Optimistic Despite Recent Bithumb Hack
Source: Themerkle.com

Charlie Lee, the developer behind the world’s sixth-largest cryptocurrency, Litecoin, believes the price of Bitcoin and other cryptocurrencies will recover “fairly soon”. Lee shared his thoughts on the current bear market, what developments in the industry excite him the most, and the recent hack on Bithumb, the South Korean crypto exchange. The hack does not in any way reflect weaknesses in blockchain technology and should not lead to a price drop, Lee noted. Lightning Network, Security Measures, and a Bear Market The hack of Bithumb does not change the fundamentals of Bitcoin or the other cryptos, Lee stated in the interview. Drawing parallels between the hack and a bank robbery, the computer scientist who previously worked at Google and Coinbase said: Because it’s like, if a bank gets broken into and gold gets stolen, does that affect the price of…

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Bitcoin Magazine’s Week in Review: Fortunes and Fallacies

Bitcoin Magazine’s Week in Review: Fortunes and Fallacies
Source: Bitocoinmagazine.com

This week, leading South Korean crypto exchange Bithumb experienced a major hack, while Mt Gox, the most notorious exchange to be hacked in bitcoin history, is also back in the news.In Switzerland, the Bank of International Settlements is spreading some misinformation about digital currencies and blockchains; meanwhile, attorney Pamela Morgan is in the U.S. sharing great information regarding how you can plan for cryptoasset inheritance. In China, the asset management firm Reality Shares is giving investors access to blockchain-based companies at the forefront of this brave new world.Featured stories by Jimmy Aki, Shawn Gordon, Nick Marinoff and David Weiss.Stay on top of the best stories in the bitcoin, blockchain and cryptocurrency industry. Subscribe to our newsletter here.“No Grounding In Reality”: BIS Report Tells A Strange Crypto StoryThis week, the Bank of International Settlements (BIS) in Switzerland issued a new document…

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MIT Media Lab Project Enigma Partners with Intel on Privacy Research

MIT Media Lab Project Enigma Partners with Intel on Privacy Research
Source: Themerkle.com

American multinational technology company Intel has partnered with Enigma on research and development of privacy in computational technologies. Announcing the partnership in a blog post, Enigma said that it was excited to work with Intel as it seeks to advance its protocol and privacy technologies for public blockchains. The partnership comes a few weeks before Enigma launches its testnet and, later this year, its mainnet. Enigma will have access to Intel’s Software Guard Extensions (SGX) which will become central to its privacy-focused technologies, the company revealed. Partnering to Address Blockchain’s Biggest Challenges Enigma addresses two key challenges facing blockchain technology: privacy and scalability. Usually, various projects have focused on one while neglecting the other. Promising to turn ‘smart contracts’ into ‘secret contracts’, Enigma’s protocol withholds the input data in ledger transactions from the nodes that execute the code. This protects…

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 3 Altcoins & One ICO Worth Immediate Attention

 3 Altcoins & One ICO Worth Immediate Attention
Source: Bitcoinist.com

Bitcoin and altcoins, in particular, have had some tumultuous times the past few months. However, it has become increasingly evident the majority of the ‘new’ traders were wiped out from the markets. Now that consolidation has occurred there could be bullish signs beginning to brew. Bitcoin, Altcoins in a Sea of Red It is never enjoyable to open one’s portfolio to witness a sea of red. However, this theme has become all too common in the past six months. The altcoin season of 2017 seems like a thing of history as the market has retracted more than 60%. Right? Well, it depends who is asked. Corrections are exceptionally healthy especially in markets that fluctuate hundreds of percent North and retract well over 50 percent. No one said crypto was easy to stomach. It is a fickle ‘asset/investment.’ With such extreme…

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US Secret Service Asks Congress for Help to Prevent Illicit Use of Privacy Coins

US Secret Service Asks Congress for Help to Prevent Illicit Use of Privacy Coins
Source: Bitcoin.com

The US Secret Service is worried about the illicit use of cryptocurrencies. A high-ranking official of the agency has urged Congress to consider additional legislation to address anonymity-enhanced cryptocurrencies and services intended to obscure transactions on blockchains such as tumblers or mixers. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Undermining US Laws Deputy Assistant Director of the US Secret Service’s Office of Investigations, Robert Novy, gave a testimony before the House of Representatives Financial Services Subcommittee on Terrorism and Illicit Finance on June 20. Novy explained that his agency is primarily concerned with the use of cryptocurrencies “in criminal schemes that undermine the integrity of financial and payment systems, their use in cases of fraud, and their general use as a means of money laundering,” stating: While some digital currencies have operated lawfully, others have been used extensively…

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John McAfee “poisoned”, swears revenge

John McAfee “poisoned”, swears revenge
Source: Bit-media.org

  A month ago, crypto entrepreneur John McAfee told The Independent that he feared for his life now McAfee has claimed “incompetent enemies” have poisoned him.   McAfee took to Twitter on Friday, 22 June, to share photos of himself lying in a hospital bed covered in tubes.   “I apologize for my three-day absence but I was unconscious for two days at the Vidant Medical Centre in North Carolina and just woke up,” McAfee tweeted.   “My enemies managed [sic] to spike something that I ingested.  However, I am more difficult to kill than anyone can possibly imagine. I am back.”   FacebookTwitterSubscribe   Full story: Here are McAfee’s tweets on the poisoning issue.   My wife @theemrsmcafee and I with a message to my incompetent enemies pic.twitter.com/s7rT105OWy — John McAfee (@officialmcafee) June 22, 2018 And for those who did…

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US Congresspeople Who Own Cryptos Will Have to Identify Themselves

US Congresspeople Who Own Cryptos Will Have to Identify Themselves
Source: Themerkle.com

The time to take a stand on cryptos for US House members has come. Those who have bashed cryptos in public but have secretly been investing in them will now be outed, thanks to a new memo issued by the House Ethics Committee. The committee announced that it had decided to consider cryptos as “other forms of securities” for the purpose of financial disclosure. Members of Congress who own cryptos valued at $1,000 or more will be required to include this information on their annual financial disclosure statements. The memo also laid out policies regarding the involvement of members in ICOs as the country awaits the SEC’s assessment on how the prevailing securities laws apply to them. Mining Included as Well Cryptocurrencies are still a new industry, and existing oversight bodies have yet to come up with comprehensive policies to…

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4 Blockchain Entrepreneurs Win $100K Thiel Awards

4 Blockchain Entrepreneurs Win $100K Thiel Awards
Source: Coindesk.com

Entrepreneurs and developers behind four different blockchain startups can add their names to the list of Thiel Fellowship awardees. The Thiel Foundation, created and funded by billionaire investor and PayPal co-founder Peter Thiel, announced its 2018 class of Thiel Fellows on Friday. Among this year’s recipients are Vest co-founder Axel Ericsson, Polkadot co-founder Robert Habermeier, MyCrypto CTO Daniel Ternyak and Mechanism Labs co-founder Aparna Krishnan, according to a press release. They join the crypto community’s most notable Thiel Fellow – ethereum co-founder Vitalik Buterin, who received the award in 2014. Each recipient will be given a $100,000 grant over the next two years to help them build their current and future projects. In a newsletter, Allyson Dias, director of the Thiel Fellowship, said the purpose of the fellowship is to help young aspiring entrepreneurs to find innovative approaches to tackle real-world…

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UBS CEO Believes Blockchain is The Solution to Banking Woes

Source: Btcmanager.com

Sergio Ermotti, the Chief Executive Officer of Swiss investment bank UBS, believes that blockchain may be the answer to the banking industry’s woes. UBS Chief Discusses Blockchain When asked about blockchain technology in an interview with Finder on June 19, 2018, Emotti replied affirmatively. “It’s almost a must. The freeing up of resources to become more efficient will come through technology and blockchain is a great way [of reducing costs].” Ermotti’s statement comes at a time when banks such as UBS are suffering from smaller margins and increased regulatory pressure. A boost to efficiency and market advantage – both of which are offered by blockchain – may go a long way to set the bank apart from others in the running. He went on to state that he envisions distributed ledger technology will gradually overhaul the banking industry over the…

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What is Bitcoin? – New Kindle Edition

What is Bitcoin? – New Kindle Edition
Source: Bit-media.org

  Bit-Media recently announced the publication of its new e-book, What is Bitcoin? The e-book is available for download on Amazon.   What is Bitcoin, is a consistently high ranking search term on google and a question that our readers constantly ask. The new Kindle book, What is Bitcoin?, is not only an introduction to Bitcoin and blockchain but also a very handy resource guide, listing numerous resources that the Bitcoin enthusiast or trader might need.   FacebookTwitterSubscribe   A short summary of the contents of What is Bitcoin? Part 1 – An introduction to, What is Bitcoin? What can I do with BTC? How much do I need to know to be involved with Bitcoin? Legal requirements Part 2 – How is Bitcoin processed Part 3 – How to trade with Bitcoin Part 4 – How to store your…

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EOS Constitution Violated

EOS Constitution Violated
Source: Themerkle.com

Seemingly every single day, there is some new drama related to the recently-launched EOS blockchain. The record-setting US$4 billion ICO has made its way into the limelight once more with a recent move by blockchain producers (BPs) to freeze seven user accounts. The EOS blockchain is perhaps the most confusing entanglement of roles and rules of any existing blockchain. Rather than a decentralized, global network, the approach employed by EOS appears more akin to some bureaucracy. Recently, one “branch” of the EOS “government” violated the EOS constitution. With EOS, rather than being propagated by participants worldwide, work is delegated to just 21 entities, the 21 block producers. These BPs are anonymous and were elected based on a combination of token votes (1 EOS = 1 vote), a rubric of benchmarks, alleged randomness, and individual preferences. There were earlier reports of…

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Wendy McElroy: Crypto as Class Warfare

Wendy McElroy: Crypto as Class Warfare
Source: Bitcoin.com

The Satoshi Revolution: A Revolution of Rising Expectations Section 4: State Versus Society Chapter 9, Part 1 Crypto as Class Warfare “Antagonism between the classes will be removed. I do not envisage a dead and artificial level among the people. There will be a variety among them as there is among the leaves of a tree. There will certainly be no have-nots, no unemployment, and no disparity between classes and masses such as we see to-day. I have no doubt whatsoever that if non-violence in its full measure becomes the policy of the State, we shall reach essential equality without strife.” -Mahatma Gandhi Cryptocurrency is the realization of an anarchist dream that dates back centuries:  a free currency and a free banking system. Crypto is in its infancy, which means  its future applications are electrifyingly unpredictable, except in one regard:…

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Bitcoin Price Analysis: Is It Over?

Bitcoin Price Analysis: Is It Over?
Source: Bitcoinist.com

Is contagion from India’s Zebpay flash crash to $5,700 responsible for the pullback in bitcoin price or something else in the works? Market Overview Up till yesterday, BTC traded within a narrowing triangle, leaving investors guessing which side the cryptocurrency would choose but as a third attempt to surpass $6,800 failed, BTC briefly reversed back below the $6,700 support and $6,600 protected against further decline. Fast forward to Friday and BTC broke the support at $6,720, $6,550 and as mentioned earlier, touched a new monthly low near $6,075. Generally, the king of cryptocurrencies has been in a downtrend since dropping out of the ascending wedge on June 4th, but there are other factors that could be contributing to the current pullback. This week’s $30 million Bithumb hack appears to have had limited impact on BTC price and its not yet…

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Want to Take a VR Tour Inside a Cloud Mining Farm?

Want to Take a VR Tour Inside a Cloud Mining Farm?
Source: Livebitcoinnews.com

Regardless of your knowledge of cryptocurrency mining, you should seriously consider taking a virtual tour of HIVE Blockchain’s new spacious mining farm. Located in Sweden, the tour gives novices and experts alike the chance to see for themselves what exactly a mining farm looks like. For the less knowledgeable, it also serves as an opportunity to understand what goes on inside the halls of a large-scale crypto mining operation—which, unlike traditional mining operations, is completely digital. HIVE’s latest facility isn’t your uncle’s desktop mining setup. In fact, mining farms this massive in scale only come along rarely, and when they do, it’s uncommon that their owners allow the general public a peek inside, free of charge. But that’s precisely what HIVE Blockchain (TSX.V: HIVE) did when they released a 360° VR tour inside of their massive Sweden-based mining farm last…

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Tether’s Transparency Update Report Raises More Questions Than it Provides

Source: Btcmanager.com

In an exciting turn of events, the people at Tether seem to have finally done what they have not been able to do since dissolving their relationship with their auditor six months ago – produce an independent report on their currency reserves. While still not an actual audit, the report was supposed to silence the critics, but this is not exactly what’s happening. As a reminder, the US Commodity Futures Trading Commission had sent subpoenas to Tether and Bitfinex, a cryptocurrency trading platform, in December 2017, after Tether suspiciously created 50 million tethers (USDT) after being hacked for over $30 million. Tether claims its currency is backed by one USD for each token issued, in spite of an army of critics arguing that the company had been issuing more tokens than it had dollars in the bank. The Report Tether…

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What Is CEEK Cryptocurrency?

What Is CEEK Cryptocurrency?
Source: Themerkle.com

It is estimated that nearly 60 million concert tickets are sold in North America each year, thus indicating a strong demand for live entertainment on this side of the globe. However, it should be noted that many top performers are still not able to meet the hundreds of venue requests that they receive on a near-daily basis, creating significant missed revenue opportunities. CEEK is an all-new entertainment ecosystem that is powered by Ethereum-based smart contracts and governed via the use of a native blockchain protocol. In its most basic sense, CEEK enables concert-goers to virtually experience live performances by their favorite bands and artists without having to physically be present at the venue. As a result of this, performers can potentially sell an unlimited number of virtual tickets as well as authentic digital merchandise. From a functional standpoint, CEEK allows…

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Supremes Uphold Cell Privacy, Hope for Ross Ulbricht

Supremes Uphold Cell Privacy, Hope for Ross Ulbricht
Source: Bitcoin.com

The United States Supreme Court, in a 5-to-4 decision for the case Carpenter v. United States, ruled cops cannot access cell phone tracking information without a warrant. Around the country, privacy advocates and the mainstream media are hailing it as a “landmark” case. We’re told it has implications, “significance” for not only Fourth Amendment searches and seizures, but also for First Amendment expressions of speech. While better than the alternative, Friday’s decision is far from a satisfying answer.   Also read: Troll Slayer: Derek Magill Defends Peer-to-Peer Electronic Cash Against Defamation Supreme Court Issues Narrow Cell Phone Privacy Victory For the cryptocurrency community, cell phones, smart phones, mobile phones are a vital part of life. The misnomer is that they’re referred to as “phones.” They’re of course much more. They are computers, hot hard drives many of us use as…

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DICE’s Investment Mining Explained

DICE’s Investment Mining Explained
Source: Livebitcoinnews.com

Cryptocurrency is the new money. Being widely adapted over the initial years of friction in acceptance, the world is ready for the innovation it is about to bring. Along with Cryptocurrency, comes the new found freedom for traders and startups. Cryptocurrency ecosystem coined a new term of raising capital – the Initial Coin Offering (ICO). Although it opened up new gates of raising funds for the tech start-ups, but with lots of advantages, ICO carries its baggage of problems too, such as – An organization with physical nature of commodities cannot digitize its products hence are not able to move to cryptocurrency platform. The process to reach ICO itself is very time consuming and expensive. Proof-of-work poses challenges and problems like higher computation power consumption. DICE cryptocurrency comes as a potential solution to all these challenges and opens up the…

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What Is 21e8?

What Is 21e8?
Source: Themerkle.com

If you’ve spent much time on crypto Twitter within the past couple of days, you may have seen some discussion and even hysteria regarding a recently-mined block. Block #528249’s six leading characters were “21e800”, a phrase that has grabbed the attention of conspiracists and curious individuals throughout the cryptocurrency space. “An Exceptionally Simple Theory of Everything” is often referred to as E8 Theory, the mathematical model on which it is based. The Theory of Everything asserts that the interaction of all forces within the universe can be explained through a single mathematical model. It was first introduced in 2007, and remains unproven. E8 Theory provides a major stepping stone in unlocking the potential of quantum computing. Quite possibly the longest and most cryptic hashtag to gain traction on Twitter, #00000000000000000021e800c1e8df51b22c1588e5a624bea17e9faa34b2dc4a has been the source for discussion on whether or not 21e800 carries…

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3 Reasons Why ‘This Is Not the Funeral For Bitcoin,’ According to Brian Kelly

3 Reasons Why ‘This Is Not the Funeral For Bitcoin,’ According to Brian Kelly
Source: Bitcoinist.com

While some analysts are stereotypically predicting Bitcoin’s funeral following its continued bearish trend, trader Brian Kelly has urged followers to cool their jets and look at the bigger picture. 3 Reasons Why Bitcoin is Not Dead There are three primary reasons why Bitcoin’s current price action is not indicative of the first and foremost cryptocurrency’s untimely death, according to popular trader Brian Kelly. “This is not the funeral for Bitcoin whatsoever,” the CNBC “Fast Money” analyst told viewers following the cryptocurrency market leader’s most recent plunge. “All of a sudden we’re declaring that the Bitcoin funeral is here.” That sentiment, Kelly argues, is a positive sign for an impending reversal of price action. He explained: When we start to declare a funeral, and things get really horrible, the sentiment is approaching the lows. So, hopefully, we’ll use that funeral FUD…

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Institutional Investors Trust TrueUSD as Cryptocurrency Gateway

Source: Btcmanager.com

Cryptocurrency enthusiasts have long heralded the arrival of institutional money, but expressed concerns over the limitations of trading pairs and the controversy surrounding Tether. TrueUSD Finds Favor Over Tether The recent success of TrueUSD, however, suggests that fiat-backed cryptocurrencies could be the bridge that enables institutional investors to enter the space confidently. The fully-audited Tether competitor launched in March, fully funded by venture capital firm of Web browser billionaire Marc Andreessen and Ben Horowitz. As an audited stablecoin, the crypto provides a perfect way for traditional portfolio managers to enter the space, says Tory Reiss, TrustToken’s vice president of business development in San Francisco. “If you’re a cryptocurrency portfolio manager, you know there is usually not fiat on cryptocurrency exchanges so if you need a cash position to move in and out of a token, it’s better to deploy capital…

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Aeron: The Future of Aviation and the Blockchain

Aeron: The Future of Aviation and the Blockchain
Source: Coinidol.com

Jun 23, 2018 at 12:33 // News The modern world has progressed at a staggering rate. this can be attributed to breakthrough technological innovation. Most notably, blockchain technology has revamped and improved numerous industries in recent years. Blockchain technology is in its relative infancy, however a number of established industries have been disrupted. One industry of note is aviation. Aviation has become one of the most popular and safest methods of transport. In 2017 the aviation industry boasted a total market capitalization of USD 2.5 trillion dollars. Almost 4 billion passengers and 104,000 flights are made annually. A study held by Boeing, in their 2017 Boeing aviation market outlook, shows that the number of both passenger, and freighter fleet is set to double by the year 2037. Aviation coupled with blockchain technology has the potential to unite the world. Aviation…

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Crypto Non-Profits Are Flawed – Zcash Thinks It Can Change That

Crypto Non-Profits Are Flawed – Zcash Thinks It Can Change That
Source: Coindesk.com

On the eve of the Zcash Foundation’s first major gathering, cryptocurrency aficionados worldwide are watching to see if the year-old non-profit can rehabilitate a long-maligned model of governance. Earlier this month, dozens of privacy tech fans from across the ecosystem, from lawyers to monero community veteran Justin Ehrenhofer, joined the foundation’s online forum to vote for two new additions to the board of directors by the Monday deadline. The election will bring the total number of board members up to five, in addition to one elected runner-up in case any member steps down. The ballot results will be discussed at length during Zcon0, which kicks off the next day in Montreal, drawing 145 attendees. The election is noteworthy for several reasons. One is the relative transparency of the process. The community panel voters, many of whom are not affiliated with the…

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Irish Banks Withdraw Banking Services of Legal Cryptocurrency Businesses

Source: Btcmanager.com

Irish cryptocurrency firms have been forced to cease trading activities or open foreign bank accounts after banks refused to provide their services to the digital asset sector. Irish Firms Face the Heat A report on The Irish Times on June 21, 2018, confirmed the claims of cryptocurrency businesses and listed out several firms facing the unfortunate situation. Cork-based Bitcove, a recipient of Bank of Ireland’s “best business start-up” award in 2017,  was “particularly aggrieved” by the situation. The bitcoin exchange has been legally operational since 2014, and enjoyed the banking services of AIB, Permanent TSB and Bank of Ireland. However, the banks have closed the company’s accounts. Peter Nagle, co-founder of Bitclove, stated: “The reasons cited has been that they do not support companies offering cryptocurrency exchange facilities despite the fact they had previously given us an account for this…

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Crypto Trading 101: A Beginner's Guide to Candlesticks

Crypto Trading 101: A Beginner's Guide to Candlesticks
Source: Coindesk.com

That kid you know who’s now driving a Lambo because he traded something called dogecoin? He has more in common with Japanese rice traders from the 1700s than you might think. Besides the ability to brag about their newfound riches, both traders likely analyzed price action and investor emotions by using the candlestick charting style. Although modernized in the late 1800s by journalist Charles Dow, the core principles of candlestick charting remain intact today. Both the modern and historical technical analysts who swear by the style regard price action as more important than earnings, news or any other fundamental principles. In other words, all known information is reflected in the price, which is precisely displayed in the candlestick. Anatomy of a candlestick A candlestick represents the price activity of an asset during a specified timeframe through the use of four…

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The Daily: Analysts Predict Bitcoin Will Rebound, Enthusiasm for State Coins Lost

The Daily: Analysts Predict Bitcoin Will Rebound, Enthusiasm for State Coins Lost
Source: Bitcoin.com

In today’s Bitcoin in Brief we mention some optimistic mid to long term predictions for crypto markets. And while decentralized currencies are hurting in a bearish month, the prospects for state-issued virtual money look even dimmer. Another senior Swiss central banker has noted the diminishing enthusiasm of governments to mint digital coins. Venezuela gives an example – Caracas has recently fired the nation’s crypto superintendent, reportedly for failing to raise billions through Maduro’s favorite El Petro.  Also read: Bitcoin in Brief: Plagiary, Numerology, and Nano Does a No-No Bottom Line: Bitcoin Will Recover It takes a lot of optimism to make bullish predictions at a moment like this, but if it’s a relatively long term prognosis for growth, preceded by a short term one for further drop, then it does sound like a safe bet. Todd Gordon, founder of Tradinganalysis.com,…

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Trade.io and Bloomberg Host “The Future of Cryptocurrencies” Event

Trade.io and Bloomberg Host “The Future of Cryptocurrencies” Event
Source: Coinidol.com

Jun 23, 2018 at 11:28 // News Cryptocurrencies and blockchain technology have erupted into the modern world in recent years. We are in the early stages of realising the potential of this technology. The financial landscape has been disrupted and countless industries are being revamped thanks to the many benefits of the blockchain. Leading this financial revolution is the likes of trade.io, who have introduced the next generation of financial institutions based on blockchain technology. Many have joined the trading revolution with trade.io, after a successfully completed Token Sale in January 2018. The Token Sale did tremendously well, raising over 31 million USD from loyal participants and community members who want greater transparency in the financial markets. Trade.io have elevated themselves by providing the ultimate in security and transparency with its exchange, as well as its highly sought after Token…

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The Highest Academy for Science in China Launches Blockchain Laboratory

The Highest Academy for Science in China Launches Blockchain Laboratory
Source: Coinidol.com

Jun 23, 2018 at 10:45 // News China’s Federal Science Institution,  the Chinese Academy of Sciences, is participating in a new scrutiny struggle around blockchain technology to boost its economy. China’s giant academy for science revealed that it had started a fresh “Big Data and Blockchain Laboratory” during the 15 June seminar, as per People’s Daily, a media platform that is owned by the state. The blockchain laboratory that is being launched working together with Tai Cloud Corp, a Beijing-based blockchain startup, will mostly concentrate on the connection existing between mathematics and blockchain technology. Is There any Positive Hope in this Launch? Xiaoshan Gao, Deputy director Center for Mathematics and Interdisciplinary Sciences in Chinese Academy of Sciences, strongly believes that the mathematical methods will largely contribute a positive change and play an important key role in various important core issues surrounding…

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