cryptswahili - Tumblr blog

[cryptswahili]

Bitcoin Trades for a Premium in Hong Kong During Protests

Right now, thousands of citizens from Hong Kong are protesting certain leaders and opposing a proposed extradition law. Alongside the protests, the country’s political issues are reportedly pushing wealthy Hong Kong residents to move their capital offshore. Since last week, the price of bitcoin core (BTC) has gained a premium in Hong Kong as the digital asset has been trading between $75-150 higher than the global average.

Also Read: How to Exchange Your Amazon Gift Cards for Bitcoin Cash

Political and Economic Unrest in Hong Kong Spurs Capital Movement Offshore

Tens of thousands of Hong Kong protestors have filled the streets of downtown Victoria Park and started marching toward government buildings on Sunday, June 16. The crowds of people dressed in black have been chanting things like “resign” and “withdraw” due to their hatred for the proposed extradition law. The ruling would basically allow Chinese authorities to come in and extradite any Hong Kong citizen to mainland China if they are accused of a crime. It all started in 1997 after Beijing took over and promised to keep Hong Kong’s government intact under “one country, two systems.” Before 1997, Hong Kong was a British dependent territory but the sovereignty over Hong Kong was transferred to China. Everything was fine up until 2014 when pro-democracy protests called the Umbrella Movement stirred the Chinese government and things have never been the same since.

Sunday’s protest in Hong Kong was one of the largest turnouts so far.

Crypto proponents believe the current political strife will push more people toward decentralized assets. The protesters demand that Chief Executive Carrie Lam resigns and withdraw her plans to initiate the extradition law. “Our demands are simple. Carrie Lam must leave office, the extradition law must be withdrawn and the police must apologize for using extreme violence against their own people,” John Chow a Hong Kong-based banker, told press on Sunday. Additionally, a few days ago, Reuters reported that wealthy Hong Kong residents have started moving funds offshore to escape possible economic turmoil.

“Some Hong Kong tycoons have started moving personal wealth offshore as concern deepens over a local government plan to allow extraditions of suspects to face trial in China for the first time, according to financial advisers, bankers and lawyers familiar with such transactions,” Reuters explained on June 14. One specific tycoon who wished to be unnamed revealed that the capital outflow has “started,” adding:

We’re hearing others are doing it, too, but no-one is going to go on parade that they are leaving — The fear is that the bar is coming right down on Beijing’s ability to get your assets in Hong Kong. Singapore is the favored destination.

The reason Hong Kong tycoons are moving money is because if the bill becomes law, Chinese courts can request Hong Kong courts to freeze and confiscate assets related to crimes committed in mainland China.

The BTC/HKD Premium

In addition to the wealthy individuals moving capital, crypto enthusiasts have noticed a premium on BTC growing larger in Hong Kong. For instance, over the last few days on the cryptocurrency exchange Tidebit, the price of BTC has been $75-150 higher than the global average. At the time of writing, 1 BTC is currently 73,100 HKD or US$9,337 in Hong Kong which is more than $100 higher than the Bitstamp price at $9,230. Speculators believe the unrest in Hong Kong has sparked some flow into bitcoin so people can hedge against uncertainty. Other exchanges such as Bitpoint and Liquid show similar BTC/HKD premiums as well.

Local.Bitcoin.com buyers in Hong Kong looking for bitcoin cash (BCH).

There’s also been some demand in Hong Kong for bitcoin cash (BCH) on Local.Bitcoin.com as there are buyers looking to purchase BCH in person for cash and alternative payment methods as well. On the data aggregation website Coin Dance, BTC/HKD volumes have been rising week after week on Paxful as well. It’s difficult to say how the Hong Kong government will handle the large protests and whether more money will flow into the crypto economy. As of right now, Hong Kong is not China and they are still two very distinct systems but many citizens fear that some day that will change.

What do you think about the recent political and economic climate in Hong Kong? Do you think the unrest will push more people into seeking out cryptocurrencies? Let us know what you think about this subject in the comments section below.

Image credits: Shutterstock, Pixabay, Getty, Merlin, and Twitter.

Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH, and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

The post Bitcoin Trades for a Premium in Hong Kong During Protests appeared first on Bitcoin News.

[Telegram Channel | Original Article ]

[cryptswahili]

Crypto Cards Expand and a Futuristic Promotion in the Weekly Update From Bitcoin.com

Crypto debit cards supporting bitcoin cash expand their international reach and a platform offers shopping at Walmart using BCH. Watch these and other developments discussed in this week’s video update on Bitcoin.com’s Youtube channel, and get a chance to take part in a futuristic promotion.

Also Read: What Makes Slovenia a Cryptocurrency Adoption Leader – Bitcoin.com Mini-Documentary

Futuristic Promotion in the Weekly Video Update

This week’s show features a number of technological and businesses developments that make bitcoin cash payments more accessible around the world. These include Coinbase expanding its Visa debit card service to six new European markets, allowing its users from these countries to spend BCH from their accounts to pay in millions of locations where Visa is accepted, as well as to make fiat cash withdrawals from ATMs.

The show also provides an update on Local.Bitcoin.com, the privacy-focused peer to peer global marketplace for trading bitcoin cash (BCH) which was officially launched on June 4. Over 14,000 people have already signed up to the service and created thousands of active orders. Additional topics cover Coinex exchange listing the SLP token honestcoin (USDH), a stablecoin issued on the Bitcoin Cash network backed 1-to-1 for USD, Cointext integration into Electron Cash allowing users to send BCH to any phone with SMS messaging capabilities, and the Alagoria platform which lets you buy items sold by Home Depot and Walmart using BCH and get a 10% discount.

The weekly update also features a promo code to the Blockchain Futurist Conference 2019, taking place August 12-14 in Toronto, Canada. Starting this Monday, you can save 50% off the price of tickets when paying with bitcoin cash and using the code shown in the video. Bitcoin.com will take part in this event as a sponsor, with a special video presentation from Roger Ver.

Make sure to subscribe to the Bitcoin.com Youtube channel and leave a comment on the latest video.

Images courtesy of Shutterstock.

Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

The post Crypto Cards Expand and a Futuristic Promotion in the Weekly Update From Bitcoin.com appeared first on Bitcoin News.

[Telegram Channel | Original Article ]

[cryptswahili]

The First time Bitcoin hit $10k, ETH Traded at $450. Will history repeat itself?

Bitcoin crossed $9k earlier today and has been above that since then. The price could be heading towards $10k in the next few days, no way to tell. However, comparing historical price growths, Ethereum rose to $450 the last time Bitcoin hit the $10k mark. The question is will the trend repeat itself in the current bull market?

The price surge for Bitcoin has not been very friendly towards altcoins and although the alts are also pressing to go up, they are not rising as fast as Bitcoin. Like Bitcoin, Ethereum, the second largest cryptocurrency by market cap has made an impressive move upwards as well. However, the price is not as close to $450 as Bitcoin is to $10,000.

Bitcoin at the current price of $9,088 will only need nearly $1000 to hit $10,000. Ethereum, on the other hand, is at $270, requiring just about $180 to hit $450. However, the rate of price gain for Ethereum seems slow enough for Bitcoin to hit $10,000 first as Bitcoin has demonstrated a much faster growth.

Things may change a little later though and history could repeat itself. A technical analyst known on Twitter as Rekt Capital pointed out a rather “new paradigm”. Bitcoin dominance in the cryptocurrency market is rising simultaneously with the altcoin market cap.

This is indeed curious because as at yesterday, Bitcoin dominance was making significant progress and there was fear of it surpassing 60% and trampling altcoins in the process.

A simultaneous rise of the two could, therefore, be a pointer to the possibility of history repeating itself with Ethereum hitting $450 when Bitcoin hits the $10k price level. This may just be one of the several repeated patterns that have been highlighted.

The Bitcoin market has particularly demonstrated several similarities with previous patterns that point to a strong bull market. There has been a panic that altcoins would be left behind if Bitcoin dominance grew disproportionately, but with the recent indication of simultaneous growth, a bull market for all could be coming soon. According to the charts, Bitcoin dominance has reduced to 57% signaling hope for altcoins.

The post The First time Bitcoin hit $10k, ETH Traded at $450. Will history repeat itself? appeared first on ZyCrypto.

[Telegram Channel | Original Article ]

[cryptswahili]

BLOCKWALKS 2019 Conference Focuses on How Blockchain Technology Will Drive the Future

The 2019 BLOCKWALKS conference will be held by Bratislava Castle. The event will host several highly reputed key speakers, connecting blockchain technology as well as other new techs with the public sector.

Scheduled to go live later in October 2019, the conference will see the brightest minds across the globe share ideas, thoughts and discussions.

The 2019 BLOCKWALKS conference focuses on technology trends driving smart cities and top government officials, thought leaders and others from innovative sectors of the global economy, including Blockchain, AI and Internet of Things will come together to discuss and understand the key roles of blockchain technology in the public sector in the coming years.

The 2018 BLOCKWALKS conference attracted over 18 speakers from 16 different countries, with more than 300 attendees and 30 government officials from 10 European nations.

“Like last year’s conference, the main focus of BLOCKWALKS 2019 is on the implementation of blockchain in the public sector and its potential in building smart cities. The aim of smart cities is to incorporate information, communication, and technology in order to improve the quality and performance of infrastructure, urban services, resource management, and social wellness in general. We want to increase the pace of adoption, and this conference is the place to foster these ideas,” said Andrea Stoklasova, President of the Slovak civil association, PUBLICUM.

Keynote Speakers

This year’s program consists of three main blocks which are: the Plenary Block, the Breakout Blocks and Panel Discussions.

The Plenary Block will host keynote addresses by blockchain tech, smart city experts and government officials.

The Breakout Block will host discussions pertaining to various new techs, including blockchain technology use cases, smart technology, and IoT. There will be open debates about future techs between industry leaders in this section.

Some of the speakers that have already confirmed they will be at the conference include:

Dr. Stefan Junestrand, Co-founder and CEO of Grupo Tecma Red (Spain). He holds a Ph.D. in Architecture and has written over a dozen books on the subject of smart cities and intelligent buildings.

Dr. Michael Gebert, the Chairman of the European Blockchain Association, a body focused on coordinating blockchain-related operations of European corporations, startups, venture capitalists and scientific institutes.

Other notable speakers include Marten Kaevats, the National Digital Advisor in the Government Office of Estonia, Jerome Grilleres, the General Manager for Europe at VeChain, Lukas Hatala, CTO of DXC.technology and more.

Website: https://blockwalks.com/2019/

Twitter: https://twitter.com/blockwalks

Facebook: https://www.facebook.com/blockwalks/

Email: blockwalks@blockwalks.com

The post BLOCKWALKS 2019 Conference Focuses on How Blockchain Technology Will Drive the Future appeared first on ZyCrypto.

[Telegram Channel | Original Article ]

[cryptswahili]

VPN Providers Defy Order to Connect to Russia’s Internet Censor

Russian regulators have once again moved to expand oversight of the online space in an attempt to ensure compliance with various restrictions Moscow is trying to impose. But as in other cases, their efforts have been met with resistance. Over a dozen VPN platforms, popular among crypto enthusiasts and other privacy-conscious users, have refused to join the state-run system for blocking banned websites. Some of them have already announced they are moving abroad. The game of cat and mouse continues, with Roskomnadzor vowing to block nine of the refusers within a month.

Also read: Russian Prosecutors Fail to Block Crypto Website

VPN Services Move Out of Country

In March this year, the Federal Service for Supervision of Communications, Information Technology, and Mass Media, Roskomnadzor, demanded from 10 VPN service providers to connect to the Federal State Information System (FSIS). The register keeps information about websites, the access to which has been restricted after they were blacklisted by Russian authorities. Roskomnadzor wants to confirm the VPN services do not allow their subscribers to access these sites.

The telecom watchdog sent out notices to Tor Guard, Vypr VPN, Open VPN, Nord VPN, VPN Unlimited, IP Vanish, Hide My Ass!, Hola VPN, Express VPN, and Kaspersky Secure Connection. Seven companies have refused to collaborate, including four that have moved their servers out of the country, and another two have not responded at all. Six more platforms, which have not been notified by the agency, also indicated they won’t connect to the FSIS. So far, only Kaspersky has agreed to cooperate.

Roskomnadzor

Alexander Zharov, head of Roskomnadzor, stated last week that nine VPN platforms which have not fulfilled the watchdog’s requirements, may be blocked within a month for not complying with the law that prohibits the provision of services facilitating the bypassing of government restrictions. “It seems Roskomnadzor has recently compiled a second list of VPNs and asked them to filter traffic,” Sarkis Darbinyan, lead legal expert at Roskomsvoboda, a Russian NGO fighting internet censorship, told news.Bitcoin.com.

Darbinyan also shared that another provider, Avast Secureline VPN, has just announced it’s withdrawing from the country in connection with Roskomnadzor’s actions. The company believes compliance with such requirements would violate its own principles and the right to freedom of the Internet. And because it won’t be in a position to bring any benefit to its Russian users, Avast informed them they will not be able to renew their subscriptions in the future.

The Battle for the Runet

A database maintained by Roskomsvoboda contains over 173,000 websites, forums, messengers, news outlets and other online platforms that have been banned at some point. The restrictions have been mandated by various state institutions including several government agencies, ministries and the Prosecutor’s Office. Many of them are still offline but some, like the crypto exchange aggregator Bestchange.ru, have been taken out of the blacklist.

Another encouraging example comes from the case with the blocking of a VPN service provider called Hidemy.name. The platform was taken offline by a ruling of a regional court in the Russian Mari El Republic in 2017. The owner of the website sought help from Roskomsvoboda and in May of this year, the organization’s legal team managed to successfully challenge the court’s decision.

Sarkis Darbinyan noted that Russian judicial authorities did not dig deep enough into how VPN technologies work and the lawyers were able to identify many procedural violations. This led to the cancellation of the original ruling and the unblocking of Hidemy.name by Roskomnadzor. However, “this battle is not over yet, so we will continue to fight for the rights of Russian users to VPNs and to protect companies that provide such secure and safe services,” Darbinyan commented.

Hidemy.name

According to amendments made to the Federal Law “On Information, Information Technologies and Information Protection” in late 2017, VPN providers and anonymizers are expected to register with Roskomnadzor and connect to the FSIS within 30 working days. One of their key obligations is to limit access to internet resources that are banned in the Russian Federation.

The same applies to search engines and the Russian internet companies Yandex, Sputnik, Mail.ru, and Rambler have already complied. Earlier this year, Google was sanctioned for failing to meet this requirement. Roskomnadzor now claims the internet giant has already paid the 500,000 ruble (approximately $8,000) fine imposed by a Russian court and is now filtering searches in accordance with the FSIS rules.

Roskomnadzor’s Next Move

If Russian regulators find that the law has been breached, they may adopt a decision to restrict access to the VPN providers who have violated its provisions. Roskomnadzor is now expected to take measures aimed at blocking the VPN services which have refused to comply with its requirements as well as those that have not replied to its notices. It remains unclear, however, what the watchdog’s next step will be.

Various approaches have been employed in the past regarding other non-compliant companies. For example, it took the watchdog almost a year to act against Telegram, the messenger founded by the Russian-born entrepreneur Pavel Durov, which enjoys great popularity in the crypto community. Other messaging platforms such as Blackberry, Imo and Line were banned much faster.

“It does not look like Roskomnadzor and Russian ISPs [Internet service providers] are really technically ready to block VPNs. For sure, they can block websites where users can download apps. That’s the easiest thing to do. But they absolutely cannot make Apple and Google remove a mobile app. Of course, the most difficult thing for them would be to actually block an application and break connectivity with the servers of these operators. And they understand it,” said Darbinyan. The activist added that this will become a huge problem for Russian regulators after the epic failure to block Telegram.

Government agencies are now trying to improve their blocking capabilities. “The Main Radio Frequency Center, an entity subordinated to Roskomnadzor, requested in March the development of an automated blocking system. It should be available by December 2019. The system will monitor how search engines, VPN services, proxy servers and anonymizers comply with the requirements of Federal Law № 276-ФЗ [the one that affects VPNs]. Maybe after supplying learning DPI [Deep Packet Inspection] tools to all ISPs to recognize VPN traffic by patterns, they will be more effective,” Roskomsvoboda’s representative pointed out. “It looks like it is going to be a long game of cat and mouse,” Sarkis Darbinyan said and elaborated:

Let me remind that most of the VPN services that have received notifications from Roskomnadzor already have a fairly rich experience in working in China and bypassing the Great Firewall. So they can easily adapt to work in Russia in these new circumstances.

The implementation of advanced technical means to control the Russian online space is part of package of measures introduced with the new “Digital Economy National Program” legislation, also known as the Runet law. It was adopted in April by the State Duma, the lower house of Russia’s parliament, and according to its sponsors, its goal is to protect the Russian segment of the Internet from external threats turning it into a “sovereign” space. Critics say it will not only limit internet freedom but also affect negatively many businesses that rely on the World Wide Web, including crypto platforms.

As news.Bitcoin.com reported, some of the law’s key provisions include the building of a system that will channel Russian internet traffic through government-controlled routing points as well as granting unlimited powers to Roskomnadzor – the agency will be able to cut off non-complying internet providers at will. It’s been estimated that the system will draw more than 30 billion rubles (almost $500 million) from the state budget, an amount that has raised some eyebrows. But, financial costs and security concerns aside, the question many Russians are asking themselves is if the Runet will after all remain ‘Internet’.

Are you using a VPN service? What’s your opinion about Moscow’s requirements toward VPN providers? Share your thoughts on the subject in the comments section below.

Images courtesy of Shutterstock.

Express yourself freely at Bitcoin.com’s user forums. We don’t censor on political grounds. Check forum.Bitcoin.com.

The post VPN Providers Defy Order to Connect to Russia’s Internet Censor appeared first on Bitcoin News.

[Telegram Channel | Original Article ]

[cryptswahili]

1xBit Offers A New Lottery For Its Customers

1xBit is happy to announce a new lottery HOT  BITCOIN, that will last from June 22, 2019 till August 12, 2019.

Are you fond of betting or maybe you want to earn Bitcoins? 1xBit is a good chance to make your wishes come true and win a special prize. It is one of the best cryptocurrency gambling and betting platform. Try now and understand how it can be easy to earn cryptocurrencies!  

On August 13, 2019, the lottery draw will randomly determine lucky winners that will get the following prizes:

1st place: 1 Bitcoin (BTC)

2nd place: 10 Bitcoin cash (BCH)

3rd place: 100 Bitcoin gold (BTG)

4th place: 1,000 Stratis (STRAT)

5th place: 10,000 Nem (NEM)

But that’s not all prizes, the other 750 lucky participants will get bonus points, as it’s shown  in the list below:

10,000 bonus points (10 winners);

5,000 bonus points (20 winners);

2,000 bonus points (30 winners);

1,000 bonus points (40 winners);

500 bonus points (50 winners);

200 bonus points (100 winners);

100 bonus points (200 winners);

50 bonus points (300 winners);

Every winner can buy currency for bonus points or exchange them for free bets.  It’s very easy to take part in this lottery. Bet on any event at least 2 mBTC and get lottery tickets for each bet placed. Free tickets will be automatically credited to your account.  Of course, the higher your stake, the more tickets you will get. For example, if you bet more than 12 mBTC you will earn 10 lottery tickets. There is no limit on the number of bets you can place or tickets you can receive. 1xBit is a cryptocurrency sportsbook and casino where the only cryptocurrency is eligible for playing. Enjoy thousands of sporting events and a rich LIVE section to bet on daily and find all the ongoing events with the best odds! If you like slots, you can find here different kind of slots for all tastes.

The high rates and a large number of various bonuses and promos increase your chances of winning. Register and receive a welcome bonus of up to 7 BTC! Yes, 7 BTC, it’s not a joke! You can see for yourself, just register on 1xBit website.

Register on the 1xBit website, place a bet on any event, get a lottery ticket and take part in the prize draw. Perhaps, YOU will be one of the winners.

You can find more detailed terms and conditions of the lottery on the 1xBit website.

Place your bets and GOOD LUCK!

The post 1xBit Offers A New Lottery For Its Customers appeared first on ZyCrypto.

[Telegram Channel | Original Article ]

[cryptswahili]

What Makes Slovenia a Cryptocurrency Adoption Leader – Bitcoin.com Mini-Documentary

Slovenia has a population of just 2 million but contains more retail locations accepting bitcoin cash payments than the entire United States. What makes this small country such a cryptocurrency adoption leader? Watch the following video to find out.

Also Read: How to Exchange Your Amazon Gift Cards for Bitcoin Cash

Slovenia: The Crypto Country

A short new documentary on Bitcoin.com’s Youtube channel highlights the thriving cryptocurrency ecosystem in Slovenia. The video features some of the places where you can pay with bitcoin cash (BCH), different Slovenian startups developing technologies for the market, as well as Roger Ver going shopping to test out the country’s now famous crypto-friendly locales.

One of the major factors in making Slovenia an international cryptocurrency adoption hub is its welcoming regulatory attitude. The documentary shows that not only is the possession of digital assets legal in Slovenia, but capital income from trading cryptocurrency is not subject to income tax for individuals.

In addition, the country’s political leadership is open and receptive to innovation, as shown in the video by the former Prime Minister Miro Cerar. All this makes the country particularly attractive to entrepreneurs in the growing digital asset industry.

Solving the Enigma

According to the documentary, the single biggest reason hundreds of Slovenian retail locations have begun accepting cryptocurrency payments is Eligma. This is the startup that developed Elipay, a transaction processing system that enables in-shop mobile purchases with BCH, BTC, ETH and its own ELI token.

The prime example of this comes from a giant shopping center called BTC City, in the Slovenian capital of Ljubljana, where many of the stores now accept cryptocurrency payments through the Elipay system. It shows that there is a growing trend for actual usage in Slovenia, as the number of Elipay wallet users already exceeds 15,000. The video also mentions that the Elipay system now accepts payments from the Bitcoin.com Wallet app, allowing the owners of the more than 4 million user-generated wallets to make in-store purchases in supporting locations.

What do you think about Slovenia being such a cryptocurrency adoption leader? Share your thoughts in the comments section below.

Images courtesy of Shutterstock.

Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

The post What Makes Slovenia a Cryptocurrency Adoption Leader – Bitcoin.com Mini-Documentary appeared first on Bitcoin News.

[Telegram Channel | Original Article ]

[cryptswahili]

Tron Community Calling For TRX Listing On Coinbase

The Tron community and specifically the U.S based Tron investors have made a desperate call for the listing of TRX on Coinbase. According to an enthusiast, Stephen Baker, the listing is needed now more than ever before, most likely because of the recent Binance ban of American traders.

The prohibition has caused a huge panic in the cryptocurrency space with U.S traders looking for alternatives to Binance which will be unavailable to them come September. The ban only leaves a number of altcoins that will be available to the traders on the new U.S Binance exchange but the number keeps getting smaller.

Binance in its uniqueness has a carefully selected collection of altcoins which may be hard to find on any other exchange, thus the request for listing of TRX on Coinbase for traders to access. The panic may also have something to do with the current bullish Bitcoin market according to analysts.

This might be presenting Coinbase and other exchanges a good opportunity if they will list some of the altcoins that most traders want. John McAfee also recently launched his own cryptocurrency trading platform which might become a viable option with proper selection and listing of key altcoins.

Coinbase is known to be one of the top cryptocurrency exchanges and one that is driven by the demands of consumers. Most of the cryptocurrencies listed on its platform have been chosen based on user recommendations, according to the team. If they still hold onto that tradition then TRX may be on its way to getting listed on Coinbase soon.

Another user also in agreement with Stephen Baker wrote:

“I don’t want to go through 10 steps to purchase my Tron, @justinsuntron we/I need Coinbase to purchase my tokens. Com’on @brian_armstrong work it out for the crypto community.”

Another Twitter user has also called for the listing of ADA in the thread. This may just be the start of listing requests directed to not just Coinbase but several other exchanges will get in the next few months as the September deadline draws closer.

The post Tron Community Calling For TRX Listing On Coinbase appeared first on ZyCrypto.

[Telegram Channel | Original Article ]

[cryptswahili]

Arax Cryptocurrency Wallet and COSS.io Announce World’s First Token Merger, and Create a Crypto One Stop Solution

Bitcoin Press Release: Blockchain giants Arax Wallet and COSS are merging to create a ‘crypto one-stop solution’, with the token swap to take place on June 25th, 2019.

16 June 2019, SINGAPORE –  Arax, a fintech and blockchain startup in Singapore has merged with COSS, one of Singapore’s most established cryptocurrency exchanges. The unified brand will be known as COSS – Crypto One Stop Solution. The merger also results in what is the world’s first token merger – a merger of the COSS and LALA utility tokens – to form a super-token which will be an asset combining all the features of its parent tokens.

In the COSS + LALA token swap update, the companies announced that they will adopt the Crypto One Stop Solution brand with the vision that the merged product stack becomes one of the largest digital asset ecosystems to take shape worldwide. Users will be able to trade, store, transact and spend their digital assets from a single platform with a single ID – making mass adoption of digital assets a reality. The merger also brings together the experience and resources of both companies to become a fast-growing Asian fintech startup with offices in Singapore and India.

Sankalp Shangari, Group CEO of COSS and Founder of Arax, shares his thoughts on the adoption of digital assets:

“This is history in the making and we are proud to be building one of the largest Digital Asset Ecosystems. One vision, simple focus – crypto adaptability for the masses. No one can deny that modern digital assets have immense value as they go mainstream and as corporate behemoths begin to participate actively in the industry. While their utility in a person’s day-to-day life has been a challenge, with previous experience and an abundant network, we are on absolutely the right track and a great growth trajectory.“

COSS believe that its token currently surpasses all existing exchange tokens in the market, in terms of potential utility, and that the merger will add significantly to that utility, adding Increased blockchain support. Arax offers multi-digital asset storage and utility product which supports several blockchains, a feature-set larger than other existing digital asset wallets today. Users remain in full control of their private keys while being able to send, receive and spend digital assets on day-to-day utilities like global mobile top-ups supported in 160+ countries, access instant digital asset exchange, make GPS-based transfers among a host of other ready-to-launch services.

Launched in mid-2017, COSS has a vision to become one of the finest digital assets platforms – a one-stop for all things cryptocurrency. The platform currently has a  feature stack to support a secure smart contract enabled e-wallet management system, support 5 stablecoins, an infrastructure to support ICO launches, fiat payment gateway for international currencies, listing over 90+ listed digital assets and providing a unique Fee Split Allocation feature (FSA). FSA lets token holders receive 50% of all trading fees generated by the exchange, distributed through a DAO (Decentralised Autonomous Organisation); a true use of blockchain while serving stakeholder needs first. The company is also readying to launch its IEO platform in the coming weeks. COSS is a member of the Singapore Fintech Association and Ethereum Enterprise Alliance.

Mr. Shangari continues:

“We have created a platform – a currently live platform – which allows users to do more with their crypto assets. They are used to storing it on one platform, trading it on another and sending it to yet another for every way they wish to spend it. That is not required anymore! And we are not stopping there… we continue to build features for the future.”

Singapore is known for its global reputation as one of the most important fintech ecosystems. The government has and continues to support innovation while developing a modern regulatory environment. This has led to the launch and growth of hundreds of financial technology startups developing products supported by the latest technologies. This merger sees two strong members of the Singapore fintech ecosystem coming together to become a versatile digital asset platform in the rapidly expanding industry.

The new COS token combines the utility of what were previously two separate tokens, with their own set of features, into one super-token powering one ecosystem — the Crypto One Stop Solution ecosystem.

The new COS tokens will have the following existing as well as additional utilities going forward:

Fee Split Allocation (FSA) — all COS token holders receive a 50% split of the total trading fees COSS collects on a daily basis, based on their holdings.

Trading Fee Discounts — traders can pay trading fees on COSS.io using the COS token to get a discount on the usual trading fee.

COSS Wallet features, utilities, promotions, and discounts — you will be able to utilize your COS and other balances on the COSS Wallet app to make GPS-based transfers, mobile credit top-ups, earn reward points and access a host of other features which are being built into it.

All COSS and LALA tokens will be swapped for the new COS token only on COSS.io exchange. The swap commences on 25th June 2019 at 14:00 GMT+8.

The swap ratios are:

COSS:COS = 1:1

LALA:COS = 10:1

Token Swap Details:

The swap will be done ONLY on COSS.io exchange

COSS and LALA tokens from other exchanges and external wallets MUST be deposited to COSS.io to swap the tokens to COS

Trading on COSS and LALA pairs will be halted on 24th June 2019. The platform  will announce, in advance, the time when trading will halt and all open orders canceled

Withdrawals of COSS and LALA tokens will be disabled on 24th June 2019. The time will be announced. Deposits will remain unaffected.

FSA will be disabled from 25th June 14:00 GMT+8 to 01st July 2019, 14:00 GMT+8

COSS and LALA tokens in FSA wallets will be converted to COS tokens during the week commencing 1st of July, 2019

The swap will continue on COSS.io for at least 3 months from 25th June 2019. COSS will l announce if any further extensions to this window are to be made.

Rune Evensen, Co-Founder and Chief Product & Strategy Officer of COSS, shares more about the announcement from Singapore:

“The vision from day one with COSS was to build a true ONE STOP SOLUTION. Not to necessarily build everything in-house but to bring it all together. This merger is a huge step towards reaching that goal but it doesn’t stop there. Our roadmap is long and we are continuously looking to partner with more and more providers that wish to offer its products and services through our Ecosystem. It is all about building a sustainable ecosystem with the users in focus.”

The token swap to merge the COSS and LALA tokens begins on 25th June 2019 on COSS.io.

Learn more about COSS at – https://www.coss.io/ Read about COSS on Medium: https://medium.com/@coss.io Visit the COSS exchange at – https://exchange.coss.io/ Join the COSS Telegram group – t.me/myCOSS Follow COSS on Twitter: https://twitter.com/cosscrypto Find COSS on Facebook: https://www.facebook.com/cosscrypto Meet the COSS team on LinkedIn: https://www.linkedin.com/company/cosscrypto/ COSS on Reddit: https://www.reddit.com/r/CossIO/

Media Contact

Contact Name: Satyarth Mishra Contact Email: satyarth@coss.io Contact LinkedIn: https://www.linkedin.com/in/satyarthmishra/ Location: Singapore

COSS.io is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

The post Arax Cryptocurrency Wallet and COSS.io Announce World’s First Token Merger, and Create a Crypto One Stop Solution appeared first on Bitcoin PR Buzz.

[Telegram Channel | Original Article ]

[cryptswahili]

From Bitcoin’s Surge To Facebook’s ‘Big Brother’ Coin: Week’s Top Stories

25-year-old oxygen-drain, Justin Bieber, challenged 56-year-old Scientologist, Tom Cruise, to a cage fight, calling him chicken if he doesn’t accept. But would we be better off putting our money on that… or Bitcoin? [hint: the answer’s Bitcoin]

Bitcoin Price Hits 13-Month High

The new normal is that there is no normal… so Bitcoin is back to normal.

Just when we’d got comfortable consolidating for a while around the $8000-mark, the market starts to shake things up again. Admittedly, we had just seen the biggest weekly loss since December 2018, but that was on the back of May’s spectacular pump.

Analysts were split as to whether we would see a further move downwards or bounce back up. But by Wednesday, Fundstrat was calling time on the retracement, citing positive technical indicators.

Sure enough, bitcoin price 00 then found itself in a rising wedge to $8200. A short squeeze followed, seeing further gains and a target of $8.5k.

For most other asset classes, a 12.5% gain over the space of a couple of days might signal time for a breather and some consolidation. But Bitcoin being Bitcoin, it wasn’t done yet. Sensing weakness in the bears, the bulls continued to push, eyeing $9k as a weekend target.

On the back of the gains, Weiss ratings upgraded Bitcoin to a ‘B’ overall, but it seems even that wasn’t the end of the story.

In the early hours of this morning, BTC continued to storm ahead. A 13-month high of $9380 was achieved, leaving only a 7% gap (and some resistance at $9.6k) until we hit 5-figures.

So as long as we don’t get comfortable with these gains as being normal (prompting the market to once again confound our expectations), we could easily see $10k in the next week.

Clash Of The Titans

Titanic Tron shill, Justin Sun, fessed up that he might be in over his head in trying to convince titanic Bitcoin-sceptic Warren Buffett, of the joys of cryptocurrencies over lunch. Luckily he gets to take a bunch of friends with him, and plans on inviting along ‘all the blockchain leaders.’

One can certainly imagine Buffett dismissing Sun without a second thought, so it’ll be interesting to see who joins him. Don’t believe for one second that it’ll change Buffett’s opinion though. Despite Bitcoin dwarfing the return on investment (ROI) of the veteran investor’s Berkshire Hathaway, in just a fifth of the time.

Other Bitcoin News In Brief

We found out more about Facebook’s ‘Surveillance Capitalism‘ Coin, in particular, its $10-million-splashing launch partners. But many think that the social media giant’s plans will turn out to present a positive opportunity for Bitcoin in the longer term.

The international Financial Action Task Force (FATF) wants to impose bank-like restrictions on crypto-exchanges.

Institutional demand is up as Bitcoin futures posted record volume. Meanwhile, Bakkt announced acceptance testing for its futures product will begin in July.

Not content with buying into Facebook-coin, Visa also decided it was going to muscle in on Ripple’s cross-border payments sector.

And finally…

The ‘Bitcoin Time Traveler‘ theory resurfaced on Hong Kong TV this week. The 2013 Reddit post by a self-proclaimed time traveler from 2025 about how Bitcoin mooning ($1 million + by 2021) destroys civilization as we know it, was explained by a former Miss Hong Kong on the territory’s most popular TV channel.

Yes, it was in a segment about wacky conspiracy theories, but not everyone in the tin-foil hat brigade can be wrong… can they?

What was the most important Bitcoin story of the past week? Add your thoughts below!

Images via Shutterstock

The post From Bitcoin’s Surge To Facebook’s ‘Big Brother’ Coin: Week’s Top Stories appeared first on Bitcoinist.com.

[Telegram Channel | Original Article ]

[cryptswahili]

Accept Direct Crypto Payments Using the Rocketr Gateway

It’s in the best interest of businesses to offer their customers a variety of payment options. Cryptocurrencies can undoubtedly bring more buyers and many merchants have introduced support for digital assets. A platform called Rocketr helps merchants accept payments in crypto, including bitcoin cash.

Also read: Piixpay Lets You Pay Bills and Invoices With Cryptocurrency

Payment Platform Supports Traditional and Crypto Options

Rocketr is a payment gateway that allows merchants to integrate a variety of payment methods including traditional options like credit cards and Paypal, but it has also been supportive of cryptocurrencies such as bitcoin cash (BCH). Its services are offered for a relatively low fee of 0.5% on all transactions and there are no other hidden charges for setup or maintenance.

The Rocketr Payments platform lets you accept all kinds of payments and invoice clients directly from a single dashboard. Its API provides you with the opportunity to customize checkouts and it allows for webhooks and instant payment notification. These features notify your Rocketr application when an order is completed.

Companies can also use a product called Storefront which is a complete e-commerce platform. It is designed to satisfy the needs of online businesses specializing in sales and delivery of products and services in the digital space. Many of its integrated features, such as the built-in messaging system and livechat support, are offered free of charge.

Rocketr has also developed a POS application that supports multiple cryptocurrencies including BCH. It lets you accept direct payments in several other major digital coins like BTC, ETH and LTC as well as fiat currencies such as USD, EUR and GBP. The software, which is available in Apple’s App Store, comes with many useful features, one of which lets customers add a tip to their bills.

If you want to process BCH payments you can also check out the Bitcoin Cash Register app for both iOS and Android devices. The simple Point of Sale software developed by Bitcoin.com allows merchants to accept electronic cash at any retail location. Payments are easy, safe and no account or registration is needed to install and use it.

What other applications for direct crypto payments would you recommend? Let us know in the comments section below.

Disclaimer: Readers should do their own due diligence before taking any actions related to third party companies or any of their affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any third party content, goods or services mentioned in this article.

Images courtesy of Shutterstock.

Do you need a reliable Bitcoin mobile wallet to send, receive, and store your coins? Download one for free from us and then head to our Purchase Bitcoin page where you can quickly buy BCH and BTC with a credit card.

The post Accept Direct Crypto Payments Using the Rocketr Gateway appeared first on Bitcoin News.

[Telegram Channel | Original Article ]

[cryptswahili]

Bitcoin (BTC) Breaks Above $9,000. Is $10,000 Next?

Bitcoin has been officially declared to be in a bull market with staggering evidence. Early this morning, the crypto leader broke above $9,000 and still going up. Bitcoin has broken 3 key resistances at $8,200, $8,550 and $8,900 in the last few days with very little struggle, a sign which may be suggesting that the surge is not stopping soon.

Bitcoin had corrected to the $7ks high and although even the most bullish analysts became skeptical and expected a further dip to as low as $5ks, the asset suddenly started an upward move, reaching over $8,800 as at yesterday. Many are asking if it’s heading for $10,000 in the next few hours.

Yesterday, a renowned analyst known as Galaxy asked why Bitcoin would not reach $20,000 in the coming weeks. Indeed the journey seems promising and other analysts also think this is possible if the current trend continues. The trend indeed is likely to continue as analyst Josh Rager says a new yearly high is in sight, probably much higher than the current $9,000.

The next few days may also be holding a huge surprise as Fundstrat’s Tom Lee says the radiant highs may just be a few FOMO days away. If this becomes a reality then 2019 may become the best crypto year ever.

Bitcoin is currently trading at $9,335 on Coin Market Cap with a gain of 7.43%. Most altcoins are also in the green but the rate of growth does not measure up to Bitcoin. The fear that Bitcoin could grow too fast and dominate altcoins thus hindering their growth may soon become a reality as well if the expected patterns play out.

The rest of today may get more exciting as the market continues to bloom, but the really interesting aspect is seeing how things play out in the new week. Will we head to a new yearly high or will there be a pullback?

The post Bitcoin (BTC) Breaks Above $9,000. Is $10,000 Next? appeared first on ZyCrypto.

[Telegram Channel | Original Article ]

[cryptswahili]

Insights On The Binance Exchange U.S. Closure

Binance Exchange has been the focus of debates and opinions of late after the company announced plans to launch a new trading platform to accommodate US-based users right after making another announcement to restrict US traders from accessing Binance.com.

Despite the restrictions, US-based customers can still access Binance.com via VPNs. Those who haven’t fully complied to Binance’s terms of use, especially in regard to identity verification, will also be able to use the platform.

According to one particular tweet by a Binance fan going by the twitter handle,” trushseeker,” Binance had it all worked out well before making the announcements in response to the overreaching regulatory policies imposed by the US government. Binance’s CEO Changpeng Zhao retweeted the users’ tweet, terming it rather interesting.

The User’s “Analysis”

In the tweet, the user went on to give a ten-point narration of how Binance appeared to have planned well ahead of times. For starters, the fact that Binance announced the launching of Binance.us and Binance DEX right on time means that they had already seen the regulations happening soon and planned to counteract by preparing in advance.

Also, the restriction of US customers, and keeping in mind that the US market makes about 20% of Binance traffic, is masterfully crafted to steer more traffic towards the DEX, a development that’s bound to affect BNB’s price upwards.

Is It Accurate?

CZ’s retweet caused some people to entertain the possibility that the original poster could be right in their analysis. Asked about it, the CEO didn’t give a direct answer but rather confessed that, indeed, the interesting tweet was a good learning opportunity.

Interesting take.

Telegram Channel | Original Article ]

[cryptswahili]

Indian Crypto Community Petitions Government for Regulation

Following widespread reports of the upcoming Indian cryptocurrency bill, the crypto community has started a petition for the government to quickly implement a regulatory framework for cryptocurrencies. In addition, a television network operated by the Upper House of the Indian Parliament has aired a program discussing the bill, and three Right to Information requests have been filed seeking answers about the bill.

Also read: Indian Cryptocurrency Regulation Is Ready, Official Confirms

Petition to Accelerate Crypto Regulation

Since details of India’s “Banning of Cryptocurrency & Regulation of Official Digital Currency Bill 2019” have emerged, there have been constant discussions about this bill, what it entails, and whether it is the bill that will be submitted to the finance minister. While two prominent local publications have claimed to possess information about the bill, many unanswered questions remain.

In an effort to stop speculation and FUD (fear, uncertainty, and doubt), Blockchain Lawyer founder Varun Sethi started a petition on Change.org on June 15 to the Department of Economic Affairs and the country’s central bank, the Reserve Bank of India (RBI). Anyone can sign the petition entitled “Implementing Regulatory Framework for Cryptoassets in India” and possibly help shape the crypto regulation in the country. At press time, 1,437 have signed the petition.

“This petition is neither sponsored by any specific blockchain or cryptoasset company / exchange / group in any manner whatsoever nor has any compensation being received from anyone to initiate such petition,” the petition reads:

The purpose of this petition is to engage the blockchain community and the government in a more democratic and engaging environment to accelerate the implementation of regulatory framework regarding blockchain and cryptoassets in India and relinquish the ambiguity which has developed around it.

“India is home to 2.7 million tech developers which is expected to grow to 5.2 million in [the] next 48 months,” Sethi began. He referenced the banking restriction imposed by the central bank in April last year as well as the Right to Information (RTI) request he filed, which revealed that the RBI did not do any research before implementing the banking ban on crypto businesses.

Sethi also outlined other countries’ crypto regulatory efforts such as Japan, Malta, Canada, Estonia, Germany, and Norway, “to better regulate and tap the potential of this technology.” The lawyer proceeded to make some suggestions for India such as officially defining terms like blockchain and crypto assets, providing a regulatory sandbox for new crypto assets to be tested in, registering initial coin offerings, defining KYC/AML guidelines, and updating the Foreign Exchange Management Act and the Income Tax Act to report crypto income. He concluded:

The success of the petition shall be when the government issues guidelines for a democratic regulatory framework for blockchain and cryptoassets entities in India, perhaps on the suggestions stated above.

India’s cryptocurrency bill was drafted by an interministerial committee headed by Finance Secretary Subhash Chandra Garg, former Secretary of the Department of Economic Affairs. The committee was tasked with studying all aspects of cryptocurrency and making recommendations for its legal framework. Garg recently said that the report containing the regulatory framework for cryptocurrency was ready to be submitted to the finance minister.

Parliament TV Discusses the Ban Proposal

As speculation rises about what India’s cryptocurrency bill contains, Rajya Sabha TV (RSTV), a television network channel owned and operated by Rajya Sabha, the Upper House of the Parliament of India, aired its latest episode of Policy Watch Friday on the government’s decision to propose a ban on cryptocurrency. Policy Watch is a weekly show featuring discussions of national economic policies. Guests on the Friday episode included Mohd. Haleem Khan, a former secretary, Ministry of Finance.

In the show, Khan explained to anchor Kriti Mishra:

The issuance of currencies is a sovereign act … any currencies issued by anybody else comes to that level of counterfeit currency.

Mishra asked Khan about the 10-year jail sentence for “Whoever directly or indirectly mines, generates, holds, sells, deals in, transfers, disposes of or issues cryptocurrency or any combination thereof,” which according to Bloombergquint, “shall be punishable with fine as may be prescribed by the central government in the first schedule or with imprisonment which shall not be less than one year but which may extend up to ten years, or both.”

Khan described that there is a provision even today for a 10-year prison sentence for counterfeiting currencies. He further explained that another law that comes into play is the Foreign Exchange Management Act (FEMA) before concluding: “I don’t find anything wrong with this approach.”

Nischal Shetty, CEO of local crypto exchange Wazirx, commented on the Policy Watch episode:

If you hear the anchor, she’s reading out exact word to word from Bloomberg article … So let’s not assume this is confirmation.

India’s cryptocurrency bill will first need to be submitted to the finance minister for approval and introduced in Lok Sabha, the Lower House of Parliament. If approved, the bill will move to the Upper House of Parliament. Even if it’s signed into law, anyone can still go to court and challenge the constitutional validity of the law.

3 Confusing RTI Replies

At least three recent RTI requests have been filed regarding the bill to ban cryptocurrency: one with the Department of Economic Affairs, one with the central bank, and one with the Insurance Regulatory and Development Authority (IRDA).

The first of the three was filed by the founder of local news outlet Coin Crunch India on April 26, one day after the Economic Times published its article on the bill. “On May 20, 2019, DEA rejected the RTI application citing ‘Section 8(1)(i)’ as the reason for rejection,” the publication shared, adding that “This could mean that DEA simply rejected it because eventually the information has to be made public.”

The second RTI, filed by Sethi, reveals some interesting facts such as how the central bank did not have any knowledge of this bill and did not propose a ban on cryptocurrency. “RBI has actually stated that they have not received any communication from any department and they have also not given any communication to any government department pertaining to [the] drafting of this bill and this is very surprising,” Sethi explained. The third RTI was filed by a journalist at Crypto News India. The IRDA’s reply was short and swift; it says no information was available on the matter.

With so much speculation and misinformation floating around the cryptosphere, the crypto community is awaiting the government to make an official announcement regarding the bill. Further, the supreme court is expected to address India’s regulatory framework for cryptocurrency and the banking restriction on July 23.

What do you think of this petition? Will you sign it? Let us know in the comments section below.

Images courtesy of Shutterstock, RSTV, Change.org, and Varun Sethi.

Are you feeling lucky? Visit our official Bitcoin casino where you can play BCH slots, BCH poker, and many more BCH games. Every game has a progressive Bitcoin Cash jackpot to be won!

The post Indian Crypto Community Petitions Government for Regulation appeared first on Bitcoin News.

[Telegram Channel | Original Article ]

[cryptswahili]

Bitcoin Breaches One Million Daily Active Addresses Once Again

According to data from Coin Metrics, Bitcoin has reached an essential breakthrough. As of June 14th, 2019, the original digital asset was pushing towards its highest levels of activity with over 1 million active addresses.

The last time Bitcoin saw this level of unique addresses in motion was November 27, 2017.

Kevin Rooke pointed out on Twitter that milestone was reached and mocked, “nOboDY uSeS BiTcOin” in a tweet. He followed up with some more information on the last time there were this many active addresses and compared to the current situation in the market.

When Bitcoin first broke 1 million active addresses (Nov 27, 2017), 1 BTC was $9,352 and the median tx fee was $3.23.

Yesterday 1 BTC was $8,230 and the median tx fee was $1.33.

— Kevin Rooke (@kerooke) June 15, 2019

The price is expected to rise with the added activity. As both transactions and active addresses continue to climb, the value of Bitcoin may climb back towards all-time highs.

Active addresses and total transaction volume is not the only thing that has been on the rise in the cryptocurrency world. Not too long ago, it was reported that bitcoin-related Tweets were also surging.

The Cryptocurrency analytics site, TheTIE.io reported that in May, Tweets about Bitcoin were way up. Cofounder, Joshua Frank said the Bitcoin Twitter action was notable.

“At 17 days of consecutive growth, BTC is seeing its longest streak of increased 30-day average tweet volume since 2017.”

Every time Bitcoin pumps, the masses are looking for comparisons to late 2017, when BTC was soaring. The cryptocurrency community is feeling optimistic now that Bitcoin is testing the $9000 range again. But if the cryptocurrency markets take another hit and dip, the mood would turn 180 degrees.

The post Bitcoin Breaches One Million Daily Active Addresses Once Again appeared first on ZyCrypto.

[Telegram Channel | Original Article ]

[cryptswahili]

Judge Orders Craig Wright to Physically Appear in Florida Lawsuit

Craig Wright, the notorious Satoshi Nakamoto claimant, must appear in court on Monday or be held in contempt. The Florida court granted a motion to compel on June 14, mandating Wright to provide a list of all the bitcoin addresses he’s owned prior to December 2013.

Also Read: The Blind Trust Described in the Kleiman vs. Wright Lawsuit Is a Real Head-Scratcher

Craig Wright Must Appear in Florida Court on Monday

A Southern District Court of Florida judge has ordered Craig Wright to appear in Florida on Monday, June 17 or be held in contempt of court. Three days ago, news.Bitcoin.com reported on the barrage of developments in the Kleiman vs. Wright lawsuit. Wright had described a very complex method of splitting keys using a form of Shamir’s Secret Sharing (SSS) algorithm into a blind trust.

Craig Wright, the man who claims to be Satoshi Nakamoto, must appear in court on Monday in Florida.

The lawsuit started last year in February as the representatives of the now deceased Dave Kleiman believe his inheritance was misappropriated by Wright. Last month Wright was ordered to produce a list of all the bitcoin addresses he owned as of December 2013. However, Wright hasn’t been so forthright with providing these addresses and has explained to the court that methods used in the so-called blind trust make it complicated for him to obtain.

“Dr. Wright does not know the public addresses of the bitcoin held by the trusts (i.e., the bitcoin mined by Dr. Wright in 2009 after block 70, through 2010),” Wright’s attorneys detailed last week.

Then on June 14, the court handed down a motion to compel, which means the plaintiffs found Wright’s prior discovery responses insufficient. The motion to compel tries to force him to answer by using the court as leverage so he will produce his bitcoin address documentation. Stephen Palley, a lawyer who comments frequently on cryptocurrency cases, explained on Twitter that he believes sanctions are coming if Wright doesn’t comply. “Listen, I have no idea who Satoshi is — I can tell you that the court isn’t buying what this guy is selling though and is creating a strong incentive to settle,” Palley added.

Deciding Whether Sanctions Are Warranted

The latest motion gives Wright much less wiggle room as far as being non-compliant is concerned. Being held in contempt could be a punishable offense or make matters worse for his defense. Furthermore, Wright has also been ordered for both a show and cause hearing and a second deposition on June 28. The order on the plaintiff’s motion to compel uses some strong arguments against Wright’s recent blind trust description involving complex encryption and the SSS algorithm. For instance, the order opens with an in-depth description of encryption and notes that the technique has been used since the time of Julius Caesar. Moreover, it highlights that Wright swore that the encrypted file that contains the public addresses and private keys to the bitcoin he mined requires a combination of himself and the blind agreement’s trustees in order to open the SSS algorithm.

The Kleiman estate wants to compel Wright to comply or they will “seek sanctions for his failure to do so.” The plaintiffs then describe how the SSS algorithm works and how Wright conceded to participate voluntarily in this system, which means he should have some basic understanding of the keys he possesses and the members of the blind trust in order to obtain the funds. The motion to compel order states:

[Wright] has not explained why he cannot obtain and has not obtained, the necessary keys from these third parties. At this point, the record before the Court fails to demonstrate that Dr. Wright cannot through reasonable diligence comply with the Court’s March 14th Order. The Court will allow the parties to develop a full evidentiary record before it decides whether sanctions are warranted.

Some people believe the Kleiman vs. Wright case will produce answers to whether Wright is who he claims to be.

The discussion about Wright’s case has been making the rounds on crypto Twitter and many are curious to see if the case will open up more of this mysterious story. A few digital currency enthusiasts think, however, that Wright’s disciples will believe he is Satoshi no matter how the case turns out.

BSV Cult:

"If Craig wins the Kleiman case, that proves he is Satoshi!"

"If Craig loses the Kleiman case, that proves he is Satoshi!"

If Craig settles the Kleiman case, that proves he is Satoshi!"

Cult confirmation bias in its fullest form.

— Ⓥin Ⓐrmani (@vinarmani) June 14, 2019

Those who don’t trust Wright’s story and think he’s a charlatan are inclined to presume the case may expose him. According to the latest motion to compel, Wright must be physically present in Florida by Monday and explain why he cannot provide a list of addresses. Failure to comply with any of the aforementioned court requests will have consequences either way.

What do you think about the recent developments in the Kleiman vs. Wright lawsuit? Let us know what you think about this subject in the comments section below.

Image credits: Shutterstock, Court Listener, Pacer, Twitter, and Pixabay.

Want to create your own secure cold storage paper wallet? Check our tools section. You can also enjoy the easiest way to buy Bitcoin online with us. Download your free Bitcoin wallet and head to our Purchase Bitcoin page where you can buy BCH and BTC securely.

The post Judge Orders Craig Wright to Physically Appear in Florida Lawsuit appeared first on Bitcoin News.

[Telegram Channel | Original Article ]

[cryptswahili]

GateHub Hack: Over $1 Million Worth Of Stolen XRP, Currently On The Move

The crypto space is an active sector. Numerous rich people have bought into it and invested vast proportions of their wealth in cryptocurrencies. However, there still remains one largely thorny issue plaguing the crypto world, and that’s the issue of security.

While the industry has come a long way in terms of improving security measure to keep people’s money safe, some platforms like Gatehub have been reported to be still vulnerable. One Twitter user who happens to be a genuine crypto fan took it upon herself to warn people about Gatehub.

In a tweet, Tiffany Hayden wondered why some people are still not listening to the numerous calls to transfer their holdings from Gatehub to more secure wallets.

Remove your $XRP from Gatehub! Why are people not listening???! https://t.co/PY7o1i9Vsc

— Tiffany Hayden (@haydentiff) June 14, 2019

A Million Dollars On The Move

Tiffany was referring to a recent post by ‘Whale Alert’ that broke some gloomy news about a huge transfer of XRP coins that were allegedly stolen from Gatehub. The transfer in question to a cool 2,438,465 XRP estimated to be valued at almost $1 million.

Don’t Import A Compromised Key

On the brighter side, Tiffany did more than just post a warning. She went ahead to help a few of the people who wanted to learn how to effectively secure their XRP holdings.

Responding to one user’s query on how to import their secret key, Tiffany advised not to continue using any compromised key. Instead, the crypto owner should re-key their account by deactivating the current key and generating another one.

Granted, security issues within the crypto space have been a major concern especially when exchanges are targeted. However, more and better ways of ensuring security and good trading environment are being developed and fielded.

The post GateHub Hack: Over $1 Million Worth Of Stolen XRP, Currently On The Move appeared first on ZyCrypto.

[Telegram Channel | Original Article ]