Month: July 2017

From the simple barter system of ages past to the sophisticated technological systems of modern day money transfer, the remittance industry remains a significant aspect of the global economic ecosystem.

Applied Cryptography Consultant Peter Todd raises questions as to where’s the journalistic standards for media companies covering the Craig Wright’s new venture, nChain.

Monster Byte Inc. owns a suite of long standing and profitable gambling websites that have been custom-built with proprietary technology owned by Monster Byte. Monster Byte is looking to raise additional funds to not only enhance their current consumer’s sites but also begin to resell their intellectual property and enter the B2B iGaming space. This ICO is unique because the company has been generating revenue, adding users and enhancing its products since 2013. Instead of wondering if you are buying vaporware with the ICO you have a chance to share in the growth and profits of an established company.

From Sports Betting to Provably Fair Games

Monster Byte owns and operates Peerbet.org, Bit777.com, and BitcoinRush.io. Bitcoin Rush offers sports betting and a provably fair casino all custom built and originally founded as “casinobitco.in” in 2013. The sportsbook currently offers highly competitive odds and a daily cashback system that is not available at any other bitcoin sportsbook. Peerbet was established in 2012 and offers 1% edge dice games and an on-site exchange for various cryptocurrencies. Finally, Bit777 was acquired by Monster Byte in 2014 from UltraPlay LTD and is a flash based casino with 49 different games.

What will the ICO funds be used for?

First and foremost, Monster Byte is hiring several functions, including additional developers, and community managers.

The BitcoinRush.io sportsbook will be updated with a new UI/UX model and implement a system that earns between 2-4% per bet regardless if the player wins or loses.

Peerbet.org will be relaunched with a new modern design that will be responsive for tablet and mobile device play.

BitcoinRush.io will start accepting more coins including Waves, Ethereum, Litecoin, Dash, and others in time for the next NFL season in September.

B2B syndication of its games and API access to both traditional fiat and cryptocurrency gaming portals. The new line of business will supplement existing revenue streams.

Telegram messenger betting support. People will be able to place bets from their telegram app.

What do token holders get?

Monster Byte Token will be issued exclusively on the Waves Platform due to the ability to easily trade tokens against other assets and cryptocurrencies all within the DEX, a very liquid decentralized exchange in the Waves LiteApp Wallet.

On a quarterly basis, all Monster Byte token holders are entitled to their share of the collective profit (revenue – expenses) of Monster Byte. Dividends will be paid in bitcoin, and detailed quarterly reports will be published to provide full transparency on all operations. A dedicated Slack channel will also be created to follow the day-to-day operations and development progress with the team itself.

When is the ICO? I want in NOW!

The ICO pre-sale will begin on July 3rd, 2017 at 16:00 UTC, and extend until July 8th 16:00 UTC or whenever the pre-sale is sold out, whichever occurs first. During the pre-sale, 2,500,000 Monster Byte tokens will be sold at $0.08 USD, a 31.5% discount over the general sale. The general sale will open at July 8th at 16:00, and 7,500,000 Monster Byte tokens will then be sold at $0.11 USD.

Is there a cap?

Yes, in total, Monster Byte anticipates raising $1,025,000 USD which gives Monster Byte a $4.4M post-money valuation. They chose not to have an open cap as savvy investors should know exactly what they are buying into, with a well-defined capitalization model.

A unique opportunity

This is your chance to invest in one of the fastest growing industries. Sports betting and online gambling is one of the best use cases for cryptocurrencies. Currently, online gambling as a whole is a $46 Billion/year market. Depending on estimates, it is expected to be approximately $50 Billion/year by 2019. At the same time, due the benefits of both the player and operator, cryptocurrency gambling is going to ‘eat into’ this market gradually year over year.

Based on Monster Byte’s solid reputation and long-standing history in this young niche market, as well as their expansion into B2B operations this is an ICO that is sure to go quickly.

Visit our website and sign up for our newsletter to get the latest updates on the ICO and presale.

https://www.monsterbyte.io/ico

Slack https://monsterbyte.slack.com/

Bitcointalk https://bitcointalk.org/index.php?topic=1980482

This is a sponosored Press Release and does not necessarily reflect the opinions or views held by any employees of The Merkle. If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.

Investment strategist Matt Prusak outlines why he predicts a massive correction for ether and the other tokens built on ethereum.

Source

ZURICH, SWITZERLAND, July 1st, 2017 – Harbour DAO releases their white paper describing their completely autonomous DAO for determining investments in token launches. The recent explosion in ICOs has created a need for deciphering which tokens have longevity and potential for ROI. Harbour harnesses the wisdom of the crowd to accomplish this. The Harbour DAO … Continue reading Harbour Releases White Paper on Ethereum-backed DAO for Managing Token Assets

The post Harbour Releases White Paper on Ethereum-backed DAO for Managing Token Assets appeared first on NEWSBTC.

The IRS intends to lessen the amount of customer data it originally wanted to siphon from Coinbase. Ongoing negotiations between Coinbase and the IRS have yielded concessions on part of the IRS legal team. A trial attorney for the Department of Justice, Amy Matchison, recently said the IRS would narrow their specific data request from Coinbase. 

Also read: Former Barclays Chief Believes Blockchain and Cryptocurrencies Could Make Banks Irrelevant

Matchison came to this consideration as a result of several anonymous Coinbase users who decided to fight back against the IRS. These users came to vouch for themselves as well as Coinbase. They want to intervene and oppose government action against Coinbase users. They argued that an unnecessary and over-broad information grab would result in undue harm to many people.

An article from the Recorder clarified:

“Coinbase account holders were seeking to intervene in the matter to oppose the government’s request for the information. Lee Weiss of Berns Weiss, who represents two John Doe account holders, argued that his clients have interests that are distinct from Coinbase’s and that it’s their information that’s at stake.”

IRS Loses Private Documents, Gets Hacked Too Easily

In a June 22 “Motion to Intervene” court document, the plaintiffs mentioned that all the excess personal information requested by the IRS could easily be retrieved by hackers. This would compromise personal account information from Coinbase users. The document cited the IRS has not been careful with other people’s documents, and they lose sensitive information to nefarious entities too often. The document clarified:

“Further, the breadth of the summons, which seeks substantial personal information that is not at all relevant to tax compliance issues, and which could expose these clients to significant risk of having their identity and funds stolen by hackers who have succeeded previously in hacking the federal government, including the IRS, numerous times, makes it easy to conclude that the Government is engaging in abuse of process.”

Initial Data Request from the IRS

Initially, the IRS requested a plethora of data from Coinbase. They wanted everything from vault information, account/wallet holdings, and monetary transfers via banks wires, Paypal transfers, and other money transmittal services via Coinbase.

Much of the data they requested, however, was information they did not necessarily need to access for tax evasion or other financial crimes.

The IRS also wanted IP addresses, users settings, correspondence with Coinbase representatives; including written letters, emails, facsimiles, telegrams, and even oral conversations. The IRS basically wanted to the master keys to the Coinbase castle.

Coinbase Rejects Over-Broad Information Request

From the beginning, Coinbase publicly rejected these over-broad and intrusive information grabs from the IRS. CEO Brian Armstrong, said in a January 14 personal blog, that he is committed to compliance. However, he implied the most recent subpoena by the IRS went too far. He articulated his concern for the situation:

“Asking for detailed transaction information on so many people, simply for using digital currency, is a violation of their privacy, and is not the best way for us to accomplish our mutual objective. If the IRS were to approach Citibank, Fidelity, or Paypal and ask them to turn over all customer records, they would rightfully push back. And I feel we have the same obligation to do so.”

How much information from Coinbase do you think the IRS will acquire? Will Coinbase’s defense work? Share your thoughts below!

Images courtesy of Shutterstock and bitrust.org

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The post IRS May not Get as Much Customer Data From Coinbase as Requested appeared first on Bitcoin News.

With the community approaching a significant decision date on the issue of scaling, the outcome of the consensus is looking more like an open secret as SegWit2x and SegWit Support has officially surpassed Emergent Consensus.