Day: December 4, 2017

Ukraine’s central bank has expanded the group of people working to move the country’s national currency to a blockchain.

To do this, the owner installed a Bitcoin mining computer in the trunk of the car. The mining rig is then charged by the car’s supercharger while it mines Bitcoin.

The funds were reportedly stolen by a person using the pseudonym “BADASS20” from the I&M Bank and a Safaricom Pay Bill account.

This situation is exacerbated by the move by the US Commodity Futures Trading Commission (CFTC) to authorize the trading of Bitcoin futures products on the NASDAQ stock exchange starting 2018.

The developer who created the core technology behind thousands of initial coin offerings is now focusing on a standard for identity.

According to the digital library service, it has received more than $4,800 worth of Bitcoin Cash so far in 2017, which is more than twofold higher than the donations in Bitcoin.

Smart Valley is a powerful system for ICO project assessment and development – with a combination of unique scoring tool, expert knowledge, and crowd wisdom. A community of top-class experts from across the globe will offer their services to founders, helping to launch ICOs that are legal and secure. What’s more, investors will be there, too – ready to finance the best projects.  Smart Valley is a dynamic ecosystem that can give rise to new unicorns – visionary startups worth billions that will revolutionize the business.

Smart Valley is happy to announce that token presale starts on December 1  – if you join before December 10, you will get a 20% bonus on SVT tokens! Our investors can expect a fast growth of the SVT token already in the first 6 months after the ICO – up to x25, according to various scenarios studied by ICOLab, the ICO accelerator behind Smart Valley. Why such high estimates? It’s simple: Smart Valley provides solutions desperately needed by the whole industry – a way to select the best projects, fight scams, launch high-quality legal ICOs, provide experts with top jobs they deserve, and yes – help projects raise money. By purchasing our tokens during the presale, you get full access to all projects on our platform and increase your chances to become the first investor of a new unicorn startup! Wouldn’t you like to invest in the next Uber or AirBnB?

Advantages for investors do not end here, however. Tokens of many of the projects that successfully pass our scoring will be available to investors in our Token Store with an amazing x5 bonus! Here you can learn more about the advantages we offer.

At the heart of Smart Valley is a unique scoring system: projects are scored on multiple criteria by experts in a number of fields, from marketing to law. A good project score will act as a hallmark of quality, instantly attracting investors’ attention. We will also provide our expert scoring services to projects developed by our partners – the ICO facilitator ICOBox and the crowdfunding platform KICKICO. Thanks to this partnership, even more safe, high-potential ICO projects will be available to investors.  A demo version of the scoring tool is already available on our website – try it now!

Smart Valley will help project founders find all the professionals they require to build a dream team – specialists in front end development, finance, PR, SMM, law, and much more. If you are an expert in your field, Smart Valley can offer you a global outreach and unprecedented job opportunities. If you would like to participate as an expert, please register here.

Follow our news and system updates in our Bitcointalk thread. There you will find our project announcements, new bonus offers, ICO news, tech know-how teasers, geeky discussions of the scoring system, and much more.

Do not miss the presale! Remember – the 20% bonus offer only lasts till December 10!

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For all requests, proposals, and media enquiries,  please contact us at  [email protected]

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Venezuela’s president Nicolás Maduro has announced the creation of the country’s national cryptocurrency. It will be called the Petro and will be backed by the nation’s oil, gold, gas, and diamond reserves.

Also read: Japan Increases Lead – Approves Another Four New Cryptocurrency Exchanges

Venezuela’s National Cryptocurrency

The president of Venezuela, Nicolás Maduro, announced on Sunday that his country will create a national cryptocurrency called the Petro. Its goal is “to combat what the leftist leader says is a financial ‘blockade’ against the crisis-hit nation spurred by U.S. Sanctions,” Reuters reported.

Maduro explained that the new currency will be “backed by oil, gold, gas and diamond reserves,” Agencia Venezolana de Noticias wrote. He was quoted saying:

I want to announce that Venezuela is going to implement a new cryptocurrency system based on oil reserves, in order to advance in the area of monetary sovereignty. This will allow us to move towards new forms of international financing for the economic and social development of the country.

Following Maduro’s announcement, the Venezuelan finance ministry emphasized that a cryptocurrency system is necessary for carrying out financial transactions and for providing new financing options.

The idea of creating a national cryptocurrency in Venezuela “was met with widespread scorn from Maduro’s foes who doubt that economically crippled Venezuela could pull off the launch of a cryptocurrency,” Reuters described.

“It’s Maduro being a clown. This has no credibility,” opposition lawmaker and economist Angel Alvarado told the news outlet. Opposition legislator Jose Guerra added, “I see no future in this.”

Venezuelans Turn to Bitcoin Mining

Venezuela’s fiat currency, the bolivar, has been in a free fall. It lost about 57 percent last month in the black market, dragging the country’s monthly minimum wage down to $4.30, the news outlet detailed. “Millions of Venezuelans plunged into poverty are struggling to eat three meals a day.”

On Friday, the black market rate for one dollar is 103,000 bolivars; it was 10,000 at the end of July. According to the International Monetary Fund, Venezuela’s economy is shrinking 12 percent this year and its annual inflation rate is expected to surpass 2,300 percent next year.

The country’s hyperinflation has driven Venezuelans to bitcoin mining in order to afford basic necessities since power is heavily subsidized to the point that it is essentially free. Daniel Osorio of Andean Capital Advisors told CNBC in September that hyperinflation makes it impractical to use cash since dollars are in short supply in Venezuela. He elaborated, “we are beginning to see in Venezuela, potentially, the first bitcoinization of a sovereign state.”

Meanwhile, bitcoin mining and trading activities have grown in Venezuela. In May, news.Bitcoin.com reported that bitcoin helps Venezuelan families avoid starvation.

What do you think of Venezuela attempting to launch a national cryptocurrency? Let us know in the comments section below.

Images courtesy of Shutterstock, Reuters, and Tercera Información.

Need to calculate your bitcoin holdings? Check our tools section.

The post Venezuela Announces the Creation of Oil-Backed National Cryptocurrency – the Petro appeared first on Bitcoin News.

The VIABET ICO team is glad to announce that it has reached its soft cap of 300 ETH and will continue to raise funds. 364 ETH were collected during the Pre-ICO stage, which has closed its doors to new investors November 21st.

During the Pre-ICO stage, a limited portion of tokens were available for purchase with a 40% discount. The main ICO is scheduled for December 11th (6:00 PM UTC) giving its supporters one last chance to get in on the profit that VIABET’s future growth will generate.

During the first week of the public ICO, 1 ETH will give investors 1200 XVIA tokens (a 20% bonus). The offer expires in 7 days from the start of the sale.

VIABET is a technological launching pad that allows players to not only actively take part in online gambling through blockchain-based cloud betting, but to also actually become the house and host their own casino games. From roulette to poker to dice games, players can set up their own virtual casino and enjoy house odds as other players bet against them.

No other online gambling platform offers anything remotely similar to what VIABET is bringing to the table.

VIABET is Burning More Than 40 Million of Its Tokens

VIABET have revealed their long-term strategy to raise the value of XVIA tokens. To reduce the overall XVIA token supply from 70 million (70,000,000) to 7 million (7,000,000), meaning a 90% decrease.

Historically when a company burns (destroys) or locks a number of tokens it causes the price to increase. This is due to the law of supply and demand. Since there are less tokens available for trade the tokens that are available for trade become more valuable. XVIA tokens are needed to use the VIABET platform. XVIA is a cryptocurrency based on the Ethereum technology that allows to create a fair, autonomous cloud-based betting environment for all users.

VIABET will be having two (if necessary) token burn events, each at major milestones which will allow to raise the value of XVIA at key points:

BURN 1: The first burn will happen on December 10th (6:00 PM UTC) (70 million to 7 million), this will give a buildup as they move into their Public ICO stage.

BURN 2: The second burn will happen in the event that not all 4.4 million tokens are sold and distributed during the Public ICO. It will take place after listing on its first official trading exchange, EtherDelta (Planned for as early as December 18th if all 4.4 million tokens are distributed during that time, otherwise the listing date is scheduled for January 7th, 2018)

With each burn VIABET aims to achieve a high level of stability and steady overall price increase.

Public ICO to Begin December 11th

The VIABET ICO is set to begin December 11th, 2017 (6:00 PM UTC). However, only 4.4 million XVIA Tokens will be sold during the Public ICO. As the ICO is capped at only 3700 ETH, it is predicted to sell out and close its doors to new investors long before its January 7th deadline is hit. In addition, VIABET has early bird discounts in place to incentivize investor participation, a 20% bonus for early investors is up for grabs.

The project has already met its minimum (soft cap), which was $100,000. Thus, even if it does not hit 100% of its goal, it is still moving forward with its development roadmap and marketing initiatives.

VIABET is primed to become the 800-pound gorilla of the online gambling industry by taking advantage and fully utilizing blockchain technologies in a new and unique way as well as integrating itself with the vast 95% fiat market share of online gambling that cryptocurrency gambling has not yet tapped into.

Learn more about VIABET at – https://viabet.io
Access VIABET whitepaper at – https://viabet.io/viabetio_whitepaper_v1.pdf
Find VIABET on Facebook at – https://www.facebook.com/viabetio
Follow VIABET on Twitter – https://twitter.com/viabetio
Join The Official VIABET Telegram channel – https://t.me/VIABET

The post VIABET Reaches ICO Soft Cap in Less Than 24 Hours, Reveals Plans for Token Burn Strategy appeared first on NEWSBTC.