Day: November 17, 2017

The Internet Archive, host of the Wayback Machine, has announced it now supports donations in bitcoin cash and zcash.

Golos’ CEO has said he will challenge the proceedings leading to Golos’ blocking in Russia.

The post Dispelling the Doomsayers: The Future of China's Blockchain Development is Still Bright appeared first on Bitcoin Magazine.

Most innovative works done by Bitcoin developers and projects directly benefit Litecoin given the structural similarities between Bitcoin and Litecoin.

Things have gone from bad to worse as far as the Tezos ICO is concerned. After facing a major class-action lawsuit already, a second lawsuit has now been filed. There are evidently a lot of people who aren’t too happy with how this project is being run. It is apparent this situation will only get worse as time progresses.

More Problems for the Tezos ICO

There have been a lot of issues with the Tezos ICO ever since this project raised US$232 million in very little time. Raising a lot of money does not necessarily make for a solid project, a lesson the Tezos founders are certainly learning the hard way. Those founders are facing not just one, but two class-action lawsuits right now. Investors are quickly turning their backs on this project and hoping to get some of their money back in the process.

The latest lawsuit was filed earlier this week and made public on Wednesday. The plaintiffs are going after the co-founders of Tezos, Dynamic Ledger Solutions Inc., and the Tezos Foundation all at once. Since none of these entities were on the same page when it came to the distribution and trading of the Tezos token, it was only a matter of time until this powder keg exploded. With no possible resolution in sight, taking the matter to court was the only viable option.

Given that we have had two lawsuits filed against Tezos in less than a month, it will be pretty interesting to see how things play out from here. This initial coin offering has suffered from myriad issues, not the least of which is its failure to have delivered on most of its initial promises. With the tokens still unavailable to investors and impossible to trade, the team collected US$232 million with nothing to show for it. It is a very messy situation that needs addressing, but a resolution will not be in place anytime soon.

The way things stand right now, it may take up to three years before the Tezos Foundation purchases Dynamic Ledger Solutions and the project’s source code. This long “grace period” was not properly communicated to investors in the ICO, and it could very well be the undoing of the entire Tezos project in the coming months. It is certainly true that such a vital piece of information should have been disclosed to investors.

As one would expect, the plaintiffs in this second lawsuit not only want their money back but are also seeking damages. No specific amounts have been made public at this point in time, but rest assured it will not be a low-ball figure by any means. “False representation and violation of federal and state securities laws” may very well come back to haunt Tezos. It is a very ambitious project, but there are so many irregularities that one almost starts to think this ICO should never have happened in the first place.

It will be interesting to see how all of this plays out for Tezos and for those who invested in its ICO. After all, the investors are the real victims of this incompetence and misinformation. It is doubtful anyone would get their money back without a lawsuit, though, as the Tezos team isn’t obligated to refund investors whatsoever. Rest assured this particular ICO is setting a very interesting and potentially dangerous precedent for other initial coin offerings. A lot of projects have yet to deliver on their initial promises, and investors’ patience is running out very quickly.

Oslo Bitcoin Meetup, an annual gathering of like-minded cryptocurrency enthusiasts, has announced a name change. The group shall henceforth be known as Oslo Bitcoin Cash Meetup to reflect its founders’ newfound appreciation for the revitalized bitcoin fork. The fourth meetup of the Norwegian group will take place on November 24th under the BCH banner. The name might have changed, but the plan – drink beer and talk crypto – remains unchanged.

Also read: Five Countries Where Bitcoin is Illegal

Free Beer and Free Coins

When the blockchain forked on August 1, all bitcoin holders received an equal distribution of bitcoin cash. Attendees of the Oslo Bitcoin Cash Meetup can look forward to enjoying free beer paid for those same free coins. Organizer Stein Ludvigsen has created a dedicated BCH wallet for the event to serve as a “global fundraiser” for the meetup’s beer purchases. The cryptocurrency enthusiast has generously put in almost 0.3 of his own BCH, and the pool has since doubled in size. In a country where a beer costs around US $9, that’s a gesture that all bitcoiners can get behind.

It is hoped that even sceptics of bitcoin cash will be able to put their doubts on hold for an evening, if only to quaff some pints and debate scaling solutions. All are welcome, including:

Small blockers, Lightning fanbois, journalists, altcoin preachers, ICO launchers, bitcurious people, traders, movie makers, lawyers, crazy inventors, police & bad boys, tech companies, investors, politicians and even banksters

Drink to This

Cryptocurrency meetups have sprung up all over the world, with the number and frequency of the events increasing in line with a growing interest in all things bitcoin. They provide a valuable opportunity to take the digital currency into an analogue space, and to meet, educate, and debate other bitcoin believers.

Bitcoin cash is experiencing a string of endorsements and widespread adoption, aided by low transaction fees and faster transaction times. BCH donations via Reddit’s Tippr bot have soared and Air VPN is the latest company to accept payment in bitcoin cash, joining other vendors such as forex broker SimpleFX and P2P marketplace Openbazaar.

Would you attend a bitcoin meetup rebranded as bitcoin cash? Let us know in the comments section below.

Images courtesy of Shutterstock.

Bitcoin.com’s own store features a wide range of interesting Bitcoin-related products. Looking for a hardware wallet? We got ‘em. Want a good-looking t-shirt? It’s there. Want to gift a nice Bitcoin tea cup? Go shopping.

The post Norwegians Develop a Thirst for Bitcoin Cash appeared first on Bitcoin News.

Genaro is looking to step in to create a next level Blockchain 3.0 ecosystem that combines smart contracts, big data storage for DAPPs and real-world hub and incubator model.

Hyosung appears sold on cryptocurrency as its ATMs can now sell and soon buy back Bitcoin and Ethereum.

Bitcoin is currently very popular as an investment tool, yet it has been devised as a decentralised digital currency to pay for goods and services. An industry that has rapidly increased its trade in bitcoin, is the online gambling sector, a relatively young and ever-expanding industry, currently worth no less than $46 billion globally.

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Online casinos have been fulfilling the increasing demand for bitcoin as a payment method by offering players the opportunity to make deposits and withdrawals in the digital currency. As a result, professional gamblers are increasingly viewing the digital currency as an alternative method to generate income and build wealth.

Online Casinos and Professional Gamblers; A Strained Affair

Although many casino players, whether online or at a land-based casino, play for the thrill of winning, most play for entertainment purposes only and don’t expect to generate income on a regular basis. A small and rather invisible group of players consider themselves professional gamblers, as their aim is to make money by placing bets. With the rise of online gambling and new online casinos hitting the scene on a monthly basis, many professional players have taken their income generation online. Most are making money by playing online poker, live casino games, progressive jackpots of slot games and/ or by placing online sports bets. As more and more online casinos offer bitcoin as a payment option, professional online casino players have started to use the digital currency as part of their money- making strategies. It is not that most online casinos are keen on professional gamblers, especially those who are doing well, as they tend to cost the casino money. Professional players are therefore aiming to keep a low profile, also because some players want to avoid paying tax, as any winnings above a certain amount are taxable in most countries, that allow online gambling. Placing wagers in bitcoin can help players to remain under the radar.

The Advantages of Gambling with Bitcoin

Placing bets in bitcoin has several other advantages for online casino players in general and professional gamblers in particular. Paying with bitcoins is anonymous and at several bitcoin casinos, all you need for your registration is an email address, which is, as mentioned earlier, ideal for players, who would like to keep a low profile. Pay-outs in bitcoin are often processed instantly or take a maximum of 12 hours, unlike other payment methods, for which processing times can take up days, making bitcoin withdrawals considerably faster than other payment methods. Besides these advantages, the digital currency has gained tremendously in value in the last year. Especially players, who have had their bitcoin wallet for a while, receive considerably more casino credits for their bitcoin money compared to only a few weeks ago and their income is increasing, even when they’re not playing.

Bitcoin: Advocates and Critics

It is well known that bitcoin and digital currencies in general have as much advocates as critics. For advocates bitcoin is the payment method for a new and freer economy, without the need for a central bank or banks as middlemen. Critics argue that the currency is not sustainable and a promotor of illegal trade and activity. A recent argument raised against bitcoin in the Financial Times, is that its environmental costs are significant, however, you could argue that conventional fiat currencies have their costs too.

Despite arguments against digital currencies, gaming authorities have acknowledged the demand for bitcoin and the UK Gambling Commission allows licensees to offer the digital currency as a payment option. As bitcoin and other digital currencies have been linked to criminal activity, UK Gambling Commission licensees need to have procedures in place, that prevent money laundering activity via their online casino. This fear of links between bitcoin use and criminal activity might be unfounded, however, as a recent EU study has concluded that criminals and terrorist organisations hardly use bitcoin or other digital currencies.

The objection against digital currencies and bitcoin in particular, might lie in that institutions of power within the current system, like banks, are significantly losing power with the rise of decentralised technologies. While this power struggle is taking place and institutions are finding their own way to deal with the phenomenon of decentralised, digital currencies, professional online gamblers attempt to make the best of what bitcoin has to offer and with increasing success.

The European Central Bank’s Ewald Nowotny has said that China’s recent crackdown has brought new focus on cryptocurrency regulations.

We are closing in on the end of the week and it’s time to take the second of our twice-daily looks at the bitcoin price in an attempt to figure out how action today can be fed into a strategy that we can use to draw a profit from the market as we head into the weekend and beyond.

As we noted this morning, the bulls are very much in control of the market right now the overarching corrective action that we saw at the end of last week is now pretty much negated. Price is hovering in and around all-time highs and this has translated to some strong inflow of speculative volume mid-session. There is a chance, therefore, that we are going to see the current action continue into the close of the US session this evening.

However, if this doesn’t happen, we might have to enter short on a corrective entry and so we’ll make sure that our strategy incorporates some levels with which we can do just that.

So, as ever, take a quick look at the chart below before we get started so as to get an idea where things stand right now. It is a one-minute candlestick chart and it has our key range overlaid in green.

As the chart shows, the range we are using for the session this evening (and, beyond, into the weekend) comes in as defined by support to the downside at 7895 and resistance to the upside at 7956.

We are going to look for a close above resistance to validate an immediate upside entry towards a target of 8000. A stop loss on the trade at 7930 will ensure we are taken out of the position if things turn against us.

Looking the other way, if we see a close below support, we’ll jump in short towards 7850 to the downside.

Charts courtesy of Trading View

The post Bitcoin Price Watch; An End Of The Week Profit appeared first on NEWSBTC.

Interview with Neufund’s CEO Zoe Adamovich.