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Bitcoin News

Get the latest updates on Bitcoin news! One of our main goals is to inform and what better way to do so than through the news? We cover various topics such as keeping up with Bitcoin’s volatile market, innovations in the blockchain and so much more!

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Thank God We Have Pewdiepie– What Pewd’s D-Live Streaming Deal Means For Crypto Industry
Pewdiepie has always been vastly different from mainstream artists. Even the people who do not particularly enjoy his brand of content often applaud his struggles against the mainstream and how he has made it to the top of the YouTube platform against all odds. He has always stood for free speech, bashed needlessly sensitive PC culture and stood for small content creators and channel in his career. That\'s why his latest deal with the blockchain based video streaming platform D-Live may come off as a little surprise to many.  D-Live,  advertised as “world’s first and largest streaming platform on the blockchain” was launched two years back. The basic difference between traditional streaming services like Twitch and D-Live is that D-Live is not operated centrally. D-Live is based on Lino Network Blockchain and unlike twitch or YouTube which takes almost 50% of ad revenue from the content creators, the revenue is distributed among viewers and content creators. You can even earn money as a viewer for your engagement with your favorite streamer.  A far cry from YouTube\'s and Twitch\'s numbers,  Content Creators get up to 90.1 percent of each donation or subscription while the rest of the donation funds rewards for people engaging with the platforms in the form of Lino points--the blockchain\'s cryptocurrency. The users are paid in Lino points, currently, about 83.33 Lino points make up a dollar. The current donation pool for Pewdiepie\'s channel is at 3,378,973 Lino points which is equivalent to  $40,547.68 USD at the moment of writing. His D-Live account already has amassed 180k viewers.  This has way bigger connotations than just a few more ears for blockchain technology. Pewdiepie has been left increasingly frustrated by YouTube\'s behaviors as of late where his videos were de-monitzed by  YouTube for not being \"family friendly\"---the label which is completely subjective to people. When people are at mercy of a big corporation to serve as a platform to bridge them with their favorite creators and the platform is operated by for-profit organizations, there will always be an incentive for them to not act for either of the parties(creators and audience) and pursue their own self-interest.  With decentralized applications (DApps), there is an incentive for everybody. Even the viewers are rewarded for their involvement with their favorite creators and the platforms and there is a room for healthy competition between individuals and groups to compete to serve as a bridge between content creators and advertisers.  Nobody could have brought awareness about this evolving technology more than Pewdiepie--in a way, this is a perfect marriage between what the blockchain technology stands for and Pewdiepie\'s philosophical stance on the content ecosystem. After all, he better than anybody will understand when the tranquility of hard-made business is disturbed when jealous parties try blatant defamation. Maker\'s Studio--one of Disney\'s sister advertisement company decided to part ways with him after Wall Street Journal made a baseless news article accusing him of being an anti-semi after he cracked a harmless joke in one of his videos.  This agreement is manna for blockchain and dapps community as it will put the crypto community in exact light as it should be put in and hopefully it will bring positive enthusiasm among Pewdiepie\'s 9-year-old army. ...
Apr 15, 2019
LocalBitcoins Trader Sent To Prison For AML Compliance Failure
A Mexican LocalBitcoins trader names Jacob Burrell Campos has been sentenced to two years in federal jail. This was confirmed via a press release from the U.S. Attorney’s Office of the Southern District of California on April 8, 2019. Campos sold Bitcoin to more than 1,000 people in the United States and has earned more than $820,000 between 2015 to 2018. He achieved this through ATM transfer, cash meetups, and MoneyGram. He did so without following compulsory Anti-Money Laundering (AML) checks and Due Diligence on the source of the funds. Now, Campos has to forfeit everything he earned from the business. https://twitter.com/AMLAccelerate/status/1116268683523788803 Campos also acknowledged that he and unnamed others took thousands of dollars across the U.S.-Mexico border daily and did transactions with a San Diego precious metals dealer named Joseph Castillo. David Shaw, a special agent in charge of Homeland Security Investigations in San Diego made the following statement in a press release, saying: “Today’s sentencing of Burrell is a reminder to those illegal and unlicensed money transmitters that the laws and rules apply to cryptocurrency dealings just as they do to other types of financial transactions.” Just last year 50-year-old Theresa Lynn Tetly,  another LocalBitcoins trader who is also known as the “Bitcoin Maven” has been sentenced to prison for 12 months, charged a $20,000 fine and three years supervision after release. She was found guilty for laundering bitcoin as proceeds of narcotics sales and for playing a role in running an illegal bitcoin-for-cash exchange. Similar to Campos, she now has to forfeit everything she has gained from the illegal activity, which includes $292,264 in cash, 25 gold bars, and 40 bitcoins. Several other similar cases have started to pop up all over the media which is why several crypto exchanges have now started to take action and require users to do AML and Due Diligence checks to prevent such cases from happening. One of such exchanges Paxful argus that it is absolutely essential for exchanges of this nature to take a strict stance on AML laws.  On the aftermath of the site reaching to 2 million users, Lana Schwartzman--the chief compliance officer made the following statement.  When operating at such great numbers dedication to strong security measures that align with a future goal of enhanced oversight and compliance, will provide a better customer experience by affording a greater degree of trust and transparency for all customers”. In today\'s world where privacy is so elusive and ruthless data wolves ready to pounce on any data they may find, doing a KYC and ID verification may not seem to align with the spirit of peer to peer cash systems like bitcoin but for the time being, they appear to be necessary evil that needs to be implemented to protect the  integrity of the budding ecosystem.  What do you think could be a solution for this? Let us know in the comments section down below!...
Apr 12, 2019
Uncle Chris Productions Release New Bitcoin Animated Series
Last month a new animated series was released on Youtube called “Bitcoin and Friends”. It focuses on the journey of a lonely bitcoin named “B” in search of his father, the mysterious Satoshi Nakamoto. The producers plan to make eight episodes all in all. The show is set during the 2008 financial crisis where the protagonist journeys through the world in search for answers. Along the way he meets fun and quirky characters, some of which are inspired by notable figures in the crypto industry such as Mitalik, Ethereum and the Bankster Henchmen. The witty and dark humoured series has so far received positive reactions from users. Since its first episode, entitled “Tears of A Clown”, aired on March 28, 2019 the video has over 30,000 views with very few dislikes. The remaining episodes are still locked until the producers can get enough money to work on it since the entire project is crowd funded. The donations will be used for voice talents, music and sound design among many other things.You can check out more details about it and how to donate through Bitcoin and Friend’s official website. People who contribute will also get a chance to get featured in the show with their own personalized character, private screenings and digital figurines depending on how much they donate. Aside from the episodes where they tell the tragic but interesting life of B, Bitcoin and Friends also has vlogs where they break the fourth wall and even address popular crpyto figures like Vitalik Buterin, the co-founder of Ethereum. The show’s producer. Robert Allen said that “The story of Bitcoin and crypto is so colorful that it was an obvious treasure trove of good comedy and compelling characters and stories.” Until the show gets the funding they need, we\'ll need to be patient for the remaining episodes and with the crazy rollercoaster ride that is bitcoin, we can definitely use a good laugh. What do you think of “Bitcoin and Friends”? Looking forward to more episodes? Let us know in the comments section below!...
Apr 05, 2019
Hot
Bitcoin Price Is Increasing– Here Is Why
Bitcoin hit the new highs after suffering a giant fall last year. While some are optimistic about this being the transition of cryptocurrencies from bear to bull market while others are convinced its just another short squeeze. A short squeeze is a financial con which is characterized by a rapid increase in the price of a stock when short sellers (sellers of bitcoin who expect the price to go down and then buy again) are rebuying the stock, it causes an increase in buying volume which drives the stock up.  The optimists are crediting the news like Swiss Giants opting to pay their employees in Bitcoin, Fiat cash being more viable for terrorist use compared to cryptocurrencies to project a positive image that is creating more demand for bitcoins. The former of which, however, has already been debunked as an April fool prank. People are also crediting the recent development in Brexit for the surge in Bitcoin price. Speculations are that, following the chaos and uncertainty after Brexit, the pound is slowly losing ground against euros and Brits want a more stable currency to store their value. On a day of practical jokes (April Fools), it looked as if the exchanges were getting to the spirit of the day as they showed the price of bitcoin to increase by 22% to about $5000-- except the inflation was real. This huge movement of price was very unnatural to some which surfaced speculation that bitcoin whales were doing something to artificially pump up the price. https://twitter.com/CryptoTraderPro/status/1112961123018399744 But the increase in price per bitcoin can also be explained by algorithm traders or traders who were looking for a threshold to start trading. Bitcoin had been gaining a real momentum since the beginning of 2019 and it was only a matter of time it started breaking out. Many argued that bitcoin was oversold by the end of last year and needed to break $4200 to cause enough stir in the market. That seems to have been the case as the buzz around Bitcoin has increased dramatically since bitcoin hit that mark. https://twitter.com/artdesignbySF/status/1113042187875508224 There are several reasons for this price increase of bitcoins and it is almost impossible to put your finger and be sure about what exactly it is. It can be the breakpoint for bitcoin or the crypto universe as a whole or it can be another pump and dump like schemes carried out by some whales and short sellers. There are plenty of reasons to be optimistic. The grim crypto bear market has suddenly lit up again and people are excited about cryptocurrencies again. While this certainly does not mean there is a bull market on the horizon nor it means bitcoin is going to replicate its meteoric rise from 2017\'s, more investment in bitcoin certainly helps with stability and creating a positive buzz around it. https://twitter.com/business/status/1113001674627411968  ...
Apr 02, 2019
Crypto Gift Cards Can Now Be Used to Book Airbnb
People can now purchase gift cards to book on Airbnb, the world’s largest accommodation-sharing site, with cryptocurrencies. These cryptos include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dash (DASH) and Dogecoin (DOGE). This is all thanks to Bitrefill. Bitrefill is a website that allows you to buy gift cards, pay your mobile bills and top up your phone from anywhere in the world. The Sweden-based firm also provides gift cards for number of well-known companies such as Netflix, Ebay and Amazon. The company has recently announced in a tweet posted on March 27, 2019, about their new option where people can now buy gift cards to make bookings on Airbnb. Airbnb however, does not handle or accept crypto themselves. The gift cards provided by Bitrefill is a voucher product wherein people have to purchase a US dollar equivalent for Airbnb with crypto and subsequently receive a voucher code to use on the platform. Unfortunately, this service is only available for users located in the United States and stays less than 29 days. Currently, there are vouchers available in increments in $25, $50 and $100. According to the crypto card company, “Airbnb gift cards can only be redeemed by users with an account with a payment method that was issued in the United States. As far as we know Airbnb doesn’t sell gift cards in other countries yet.” Similarly, a blockchain-based hotel booking platform called Tripio, has also allowed Binance Coin (BNB) users to book hotels and residential accommodations with the BNB token last year. Last August, the state government of the Australian province of Queensland announced it would issue a grant to a crypto startup to boost tourism to the state by selling travel offers with cryptocurrencies. Cryptocurrency is slowly making its way into the tourism and accommodation market and while most companies are not accepting crypto directly, crypto is certainly moving forward into global acceptance....
Apr 02, 2019
India’s Crypto Banking Ban Leaves Indian Bitcoin Users No Choice
On July 2018 the Reserve Bank of India (RBI) has created a cryptocurrency banking ban wherein people were prohibited from dealing with cryptocurrency exchanges by any local banks working with the central bank. The general public however, misinterpreted this as an outright crypto ban. This has also caused confusion about their tax liabilities and whether or not they should pay them. In relation to this, India’s Central Board of Direct Taxes, issued 100,000 tax notices to cryptocurrency traders and investors. The reason being that they “felt” that profits made from cryptocurrency investments were a taxable event, according to Chairman Sushil Chandra. The reason for the ban is that the government is concerned that cryptocurrencies may be used for money laundering, terror financing and other illegal transactions. They are also worried of the impact it will have on the Indian Rupee. Before the ban, the Reserve Bank of India actually considered launching its own fiat-cryptocurrency called the Lakshmi coin, back in September 2017. However, they ended up going with the crypto ban instead. Despite this ban Indians have not stopped using popular cryptocurrencies like bitcoin on peer to peer exchanges like Paxful. Some Indian users sell bitcoin in over the counter trades and receive cash in return, this process however violates the RBI ban too and leaves the RBI with no means to detect the transaction. However, traders on the internet hide such trades by creating fake invoices. One trader reported to newsbtc, stating “Many a time, we have to create fake invoices for crypto transactions exceeding Rs 49,000 (~$711). Generally, we make it look like IT support services.” She also added that they were forced to take these measures because of the lack of cryptocurrency regulations. On February 2019, the Supreme Court of India gave the government four weeks to draft a cryptocurrency framework that would describe the legal landscape of the cryptocurrency market in India. That case by the Supreme Court will determine the faith of cryptocurrency in India and is set on March 29, 2019. According to Indianweb2, the government-formed committee is leaning towards legalization but with strict guidelines and strong riders.The outcome of this case would help India’s general public to finally get some clarity on crypto regulation and investments. If the crypto ban gets lifted there are a lot of crypto-based start-ups lined up to enter India’s markets. An Indonesian startup called Pundi X is one of them. Pundi X plans to launch a point-of-sale network in India so that people can buy and invest in crypto both online and offline. Another interested company is Facebook, who is reportedly said to be planning to launch its own cryptocurrency called Stablecoin and wants India to be one of the first remittance markets that Facebook will be focusing on. Stablecoin aims to let users transfer money from the popular messaging app called WhatsApp. What do you think will be the result of the case set on March 29? Will the crypto ban finally be lifted? Share your thoughts in the comments section down below!...
Mar 27, 2019
WazirX Auto-Matching Goes Global
WazirX, the self-proclaimed “most trusted bitcoin exchange in India” (according to their website), has recently announced its plans on expanding the business to international markets. WazirX CEO Nischal Shetty on expanding internationally: “We’ll be making our crypto-to-crypto markets available globally within the next week… All the 40+ crypto currently available on WazirX will be available to all the major countries.” The platform offers peer-to-peer services and it plans on launching these services one country at a time based on the demand per country. They will prioritize those that have the highest demand and then move on to the other countries accordingly. Shetty says that their purpose for expanding was that they saw banking trouble in other countries, despite the ban in India. If you didn’t know, there was a circular issued by the Reserve Bank of India (RBI) banning banks from providing services to cryptocurrency exchanges (although India is likely to lift the ban in 2019). WazirX, along with several other local exchanges work around it by using escrow to power their peer-to-peer exchange services. This allows customers to still be able to withdraw Indian Rupees (INR). WazirX going international that it’s planning to put itself amongst the peer-to-peer marketplace giants like Paxful. What is WazirX? If you aren’t familiar with WazirX, it’s a cryptocurrency exchange that launched in March 2018. It was founded by people who founded Crowdfire, a social media management application: Nischal Shetty (CEO of WazirX), Anirudh Khusape, Sammer Mhatre, and Siddharth Memon. It’s named after the queen piece in chess which is by far the strongest piece in the game with its ability to move in any direction. The name also directly reflects the team’s mission to provide “one of the most powerful pieces of cryptocurrency trading software” to users from all over the world, starting with India. The platform supports multiple cryptocurrencies like Bitcoin, Ethereum, Ripple, Litecoin, and other cryptocurrencies. Primarily based in India, its plans to expand internationally is a big step forward for the company that just recently celebrated their first anniversary on the 7th of March. The exchange also offers its own coin, WRX. It plans to have it very much integrated into the trading platform. The platform is described by its CEO as an “auto-matching engine which automatically matches your P2P buy/sell order.” The CEO goes on to explain that the matching system is completely automated yet it still feels like a regular trading experience. Although it’s not a system that hasn’t been done before, the platform feels fundamentally sound and very promising, to say the least. The trading platform offers several key features: Security - There are regular security audits to ensure an immensely secure trading platform for users in India (until they expand to other countries). KYC - The platform implements a KYC verification process for all user signups (this will be stricter for non-Indian users and it will be implemented by verifying mobile numbers along with proof of identity). Quick transactions - The platform handles millions of transactions with a system that is supposed to match the surging demand. Mobile applications - WazirX supports mobile applications on both iOS and Android The emergence of peer-to-peer platforms WazirX is just one of the few peer-to-peer platforms with true advocacy aimed towards the pore of peer-to-peer finance. Other peer-to-peer platforms such as Paxful have been this power for years now and they show no signs of stopping. An example of this would be Paxful’s collaboration with ZamZam Water. Their #BuiltWithBitcoin initiative shows the world that there are real people to help and that it’s possible with bitcoin and peer-to-peer finance. Not only have they already built 2 schools in Africa, but they’ve also provided scholarships for female Afghan refugees. There is a movement brewing and in some parts of the world, the real-life uses of peer-to-peer finance, with cryptocurrencies like bitcoin serving as a perfect compliment, are becoming very apparent. Africans, a population that is severely underbanked, is showing ways to send and receive remittances without the capital control that money sending services force upon them. Venezuelans, a country that is facing severe economic struggles with extreme inflation rates, are finding ways to preserve the value of their wealth by converting their fiat into bitcoin and other cryptocurrencies. People all over the world are not only experiencing easier payments with peer-to-peer finance, but they are also finding creative ways to earn an income through the use of cryptocurrencies. The growing number of users on peer-to-peer platforms as well as the innovative ways of using peer-to-peer finance to one’s advantage is showing us that there is a revolution brewing: a peer-to-peer finance revolution. If there’s anything peer-to-peer finance can do for people, it’s giving them the ability to be in control of their own money. What do you think about WazirX’s announcement? What’s your take on peer-to-peer finance? We’d love to hear your thoughts! Let us know in the comments section down below!...
Mar 21, 2019
First German Stock Exchange Launched a Bitcoin and Crypto Trading App
Germany has had a long lasting relationship with bitcoin and cryptocurrencies. Bitcoin was officially recognized as “private money” in Germany as early as mid-2013 and was considered as legal tender in early 2018. Berlin was even dubbed as the “Bitcoin capital of Europe\" in early 2018 as well. In Germany, bitcoin is widely accepted by both enthusiasts and business owners alike. It was only a matter of time before bigger financial institutions started riding the wave. Boerse Stuttgart Group is Germany’s second-largest stock exchange and the ninth largest in Europe. In December 2018, the firm announced that they are partnering up with solarisBank to launch a cryptocurrency trading platform. In January 2019, they announced that their app for cryptocurrency trading is available for iOS and Android users in Germany. These announcements show that the relationship between bitcoin and Germany continues to flourish. Evidently, the appeal of bitcoin and other cryptocurrencies is high in Germany. Boerse Stuttgart Group and BISON Boerse Stuttgart Group is a stock exchange that was established in February 1860. A group of people from different industries decided to meet on a regular basis and share their knowledge about banking and finance. It’s a stock exchange that has been around for a long time. It has risen through the ranks to become one of the biggest stock exchanges in Europe. The exchange changed location several times but it is now located in Carl Eugen Bau. BISON, Boerse Stuttgart Group’s shiny new cryptocurrency trading app, is now available on the Apple App Store and the Google Play Store. iPhones will require iOS 9+ and Androids will require a 4.4+ operating system. According to Coindesk, the application will charge ZERO trading fees. Added to that, the profits from the app will be derived from the “spread between the buying and selling prices offered”. It will allow users to trade for bitcoin (BTC) and multiple cryptocurrencies. Some are ethereum (ETH), litecoin (LTC), and ripple (XRP). Euros will be the fiat currency of choice as a price comparison guide. And finally, the application includes a built-in wallet to store all kinds of coins. BISON, Boerse Stuttgart Group partnered with its financial services subsidiary EUWAX AG. EUWAX AG provides all the financial services at the Stuttgart Exchange. It provides these services in its capacity as a “quality liquidity provider” and performs the role of sorting “German equities, securitized derivatives, active investment funds, exchange-traded products (ETPs) and debt instruments.”. Blocknox GmbH, another subsidiary of the group, will “take care of the custody of the acquired cryptocurrencies on an escrow basis.”, according to the BISON press release. In the press release of BISON, it states that the application features a “Cryptoradar”. The feature will use artificial intelligence to analyze around 250,000 tweets per day. It will present it to the user according to the most relevant. With this feature, “users gain an overview of market sentiment on Twitter in real time and can keep up to date on the level of discussion in relation to the cryptocurrencies traded on BISON.” For now, the application only allows users to trade between 6 am and midnight (CET) but it is expected to expand later on. Dr. Ulli Spankowsi, CEO of Sowa Labs GmbH, a subsidiary of Boerse Stuttgart Digital Ventures GmbH which developed the BISON app, explained that additional functions and features will gradually be added to the application after launch. He also promised that these functions and features will “include the extension of trading 24 hours a day, seven days a week, and additional trading functionalities.” Right now, the application is only available for German residences. Also, BISON is planning to expand to other European countries later this year. What Does BISON Mean to the Bitcoin Community? Bitcoin and stock exchanges have little to no correlation with each other. This makes the development of BISON a big deal. Especially if the app expands to other European countries. BISON is a huge step not only for the bitcoin community but for the cryptocurrency community as a whole. The second-biggest stock exchange forming their own trading platform is the first of its kind. It could mean a lot for the exposure for cryptocurrencies around the world. It shows that some financial institutions are warming up to the idea of cryptocurrency. It shows that the world is moving towards the direction of mass adoption. If other big financial institutions warm up to the idea, it could give Bitcoin and the whole crypto-community the recognition they deserve. The exposure will, in turn, make people more aware of bitcoin and its cryptocurrency counterparts. What do you think about BISON? Would you like that kind of cryptocurrency service in your area? We’d love to hear all your thoughts! Let us know in the comments section down below!...
Mar 04, 2019
Coinbase’s Partnership With Alleged Spyware Making Company Pushes Users Out of Their Platform
The reason bitcoin was so dear to cryptocurrency enthusiast was they saw the power in it. The power to make almost anonymous transaction instantly without needing verification from a central governing authority. They saw what it would mean to people who value privacy and want to evade the ever watching eye of the central government. The privacy of transacting parties and anonymous(or pseudonymous) nature of the cryptocurrency transaction has been put into jeopardy by one of the most popular cryptocurrency exchange Coinbase. Coinbase--the largest cryptocurrency exchange based in the United States came under scrutiny after it announced the acquisition of Neutrino--an Italy based company which was subject of public infamy for creating spyware and selling them to government agencies around the world. Marco Valleri, also known as Naga in the hacking community is co-credited with creating Ettercap which was the foundation of the hacking team’s technology. Ettercap is a set of network security tools used for Network protocol analysis and security auditing. Soon after creating Ettercap, they got a call from Milan Police department asking them to write a Windows driver that would enable them to listen in to a target’s Skype calls to which they obliged and instead of being open source and helping public security, they diverged in the direction to form a corporation that sells spying technologies to government agencies. Coinbase’s most recent venture hasn’t sat well with true cryptocurrency enthusiasts. When I said it would be great to have more infosec people involved in the “crypto” space, I didn’t mean the largest US exchange should acquire an analysis tools company run by a former Hacking Team member, but here we are — Amber ☘️ (@AmberBaldet) February 24, 2019 Valeri\'s team also has allegedly lied on numerous occasions about anonymity and presence of backdoor access in some of the systems they have built. Coinbase will now be able to do cross chain transaction analysis with the help of tools from neutrino meaning they will be able to follow transactions between blockchain networks. In the lights of these events, cryptocurrency enthusiasts have reacted against Coinbase and by the looks of it--are preparing for a mass exodus from their platform. #deletecoinbase was trending on Twitter. #DeleteCoinbase No coinbase account, no deleting... pic.twitter.com/TYOW9RSG5G — Tony S. ⚡️ (@bitcoin) ⚡️ (@explorecryptony) February 27, 2019 Some users who wanted to exit their platform, however, have been dealt with minor blows. As per the terms of service, to close their account, users must have a balance of exactly zero and some users with very small amounts on their wallets have not been able to delete their accounts permanently. This has led to users helping each other out to even their wallets. This whole fiasco with Coinbase surfaces a doubt if the traditional exchanges are actually safe and working for the benefit of people and their privacy.  In the aftermaths of these events-- peer to peer platforms like Paxful or Bisq may emerge as a better choice for private anonymous transactions compared to traditional central exchanges like Coinbase....
Mar 01, 2019