Day: February 15, 2018

The maker of “Pac-Man” and “Pong” has struck a deal that will result in the creation of a new Atari-branded cryptocurrency.

Spanish People’s Party considers tax breaks for Blockchain companies. #NEWS

The future lies in digital technologies. And this future has already come! Remember how blockchain technology was something wild and rampant for many people? And now just imagine, the innovative social platform SELFLLERY is based on the same technology!

This is not an ordinary social resource with the possibility of acquiring visual content, but a platform that provides an opportunity for its users to earn money on unique photos and videos that will gather maximum user involvement in the form of likes, comments, and views.

The relevance and prospects of SELFLLERY’s scaling

Currently, the most famous social networks such as Instagram, Facebook, Snapchat and Twitter exclude the possibility of direct earnings for their users for the published photos and videos, not including advertising. Although content creation and promotion of these same leading networks are carried out by their own users, they only have to be content with the likes.

SELFLLERY takes the so-called conditional error in the relations between users and shareholders of companies into account and offers the world a completely different vector of applying the user content. Now everyone can convert likes and comments into cryptocurrency, or more precisely into YOU tokens, which can be converted into cash through Ethereum purse if necessary or used inside the platform.

The interest of humanity to digital photographs is rapidly increasing with every year, which affects the needs of social platforms, where you can publish collected photos and videos. Since SELFLLERY monetizes the activities of its users, it remains only a matter of time when the platform will become the world’s leader in demand. Of course, with the increase in its demand, the value of the YOU token will grow, which will have a great impact on those who decide to join the development and expansion of SELFLLERY at an early stage.

Monetizing of SELFLLERY content

The principle of working with the platform is very simple! For example, publish photos of your pet, funny videos from friends’ gatherings or conduct interesting live broadcasts and get the approval of other users in the form of likes, comments, and views. The more involvement there is, the more tokens you will get.

Also, the platform provides other activities for rewarding, namely: the sale of digital images to a photobank, participation in photo contests, photo quests, and advertising campaigns.

Additional SELFLLERY functions

All internal processes between users of the platform are based on YOU’s token, which provides access to paid functions, as well as the opportunity to donate for charity, purchase goods in the internal marketplace and photos in galleries.

Don’t miss out, TGE starts on the 5th of March and will last until the 26th of March!
Join SELFLLERY via the link: https://tge.selfllery.com
Telegram-chat: https://t.me/selfllery_en

The post SELFLLERY – Tokens for Likes appeared first on NewsBTC.

Ethereum code editor resigns over legal concerns of a proposal for standardizing lost fund recovery. #NEWS

SP8DE is the next-generation, blockchain-based gaming ecosystem that forms a revolutionary protocol for online casinos. Developed on Ourobros, the POS protocol forming Cardano blockchain, SP8DE enables casino operators to develop and execute feature-rich gambling applications with a close-to-zero transaction fee, zero-house edge and auditable fair random numbers.

What makes the project interesting and distinguishing in the industry is its futuristic model and the jackpot prizes in its ICO. This project is a blend of innovation and explosion of joy that cannot be seen anywhere else. SP8DE is based on unbiased public randomness for developing and implementing distributed casino applications. Its protocol has been designed to make a change in the existing online casino system in the industry.

The ICO Brings the Golden Opportunity to Win Jackpot

The ICO token sale of the SP8DE platform is successfully going-on, started on February 8, 2018. The participants are entering the jackpot stages where additional SPX tokens will be airdropped randomly. The more the SPX tokens the participants hold, the higher the opportunity they get to win a bigger share of the airdropped tokens. Every jackpot is played among all existing token holders.

How the Jackpot in the SP8DE ICO works?

In its essence, each jackpot is the airdrop of tokens with certain modifications. Each token sold during the preceding Sale rounds gets a chance to win a jackpot during the following jackpot phases. The platform is all set to offer the largest jackpot of 28,888,888 SPX tokens to 10 lucky winners today. But this is just the beginning as more jackpot phases are scheduled throughout the duration of the crowdsale. The complete schedule is available below.

Jackpot winners don’t enter the next jackpots, hence, winning a jackpot doesn’t result in a higher chance of winning another one. Moreover, the Jackpot Factors is an important aspect of each jackpot campaign, attached to each token. This makes the game more interesting and lets anyone compete with others to win the jackpot.

Where Do the Unpurchased Tokens Go?

The unsold tokens, if any, will be distributed among the jackpots, increasing the amount of tokens the participants will get in every Sale.

Going Forward

The ICO of SP8DE is currently going on. Each sale phase will be of seven days followed by a Jackpot that is distributed entirely within a single day after every Sale. So, you have a great chance to win a jackpot for yourself.

To know more about the platform and get a chance to win a jackpot, participate in the on-going ICO by visiting https://sp8de.com/

The post Are you a Winner of a Jackpot? Learn How Jackpot, An Airdrop of Tokens, Works in the SP8DE ICO appeared first on NewsBTC.

It seems the cryptocurrency situation in India is not evolving in a favorable direction. The country’s government has made it clear it plans to regulate cryptocurrencies and digital assets. For now, it remains unclear what that will entail exactly, although it probably won’t be positive. Indian banks, on the other hand, are continuing to squeeze cryptocurrency users. Citibank India is the latest company to do so, which is pretty worrisome for anyone in the country with an interest in Bitcoin.

Citibank India Joins a Growing List of Anti-Bitcoin Banks

No one will deny the cryptocurrency industry has sparked much debate. Not all of these discussions will lead to positive outcomes, though. Right now, things are not looking all that great in India. With the country’s government currently looking into introducing regulation, things could head in either direction over the coming months.

Banks in the country are starting to take matters into their own hands, and it’s almost impossible for Indian consumers to buy cryptocurrency right now. Citibank India is the latest institution to prevent users from buying Bitcoin using debit or credit cards. It is a trend we have seen materialize in countries around the world over the past few weeks.

In an email sent to its customers, Citibank India explained the situation. The institution is mainly concerned over the economic, financial, and legal risks associated with Bitcoin and other cryptocurrencies. For now, they have removed the option to purchase Bitcoin and similar currencies with a credit or debit card. It is unclear if the feature will be implemented again in the future, but for now, that seems highly unlikely.

Citibank has taken a similar course of action in the United States as well. It is not impossible that they will limit the functionality of their payment cards across the globe in the weeks and months to come. This further confirms that people who trust banks with their money will essentially be told what they can and cannot buy with their own money. It is a very disturbing situation, yet one that will only grow worse over time, by the look of things.

Purchasing Bitcoin and other cryptocurrencies with a credit or debit card has always been considered somewhat of a problem. Even though payment cards are both useful and popular right now, they are also some of the biggest facilitators of online payment fraud in this day and age. With Bitcoin, the risk of fraud is only greater. Recipients of Bitcoin payments are subject to chargebacks, as digital goods are not covered by any major card issuer, especially not when it comes to cryptocurrencies.

For now, we will have to wait and see what the future holds in India. With the government still contemplating how to regulate the industry, things could head in either direction from here. It is evident there is a booming cryptocurrency industry in this country, but with major opposition from banks and other financial institutions, it will only become more difficult to get in on the action. It is a very volatile situation well worth keeping an eye on right now.

The head of the CFTC told lawmakers Thursday that any federal approach to crypto regulation should be “carefully tailored” to the risks involved. 

Litecoin’s hard fork, Litecoin Cash, is being called a scam in a situation being likened to the Bitcoin-Bitcoin Cash saga. #FORK

Multiple governments are showing an interest in tokenizing their national currencies. We have seen discussions like these take place in Singapore, the US, the UK, and a few other countries as well. Most recently, the Singaporean government has been experimenting with a tokenized SGD. This project is known as Project Ubin, and it seems the trial is currently in its third phase. It’s a positive turn of events, although it remains to be seen if this currency will ever be brought into circulation.

Project Ubin is Progressing Nicely

Creating a tokenized version of an existing national currency will not be all that easy. It will require a brand-new distributed ledger to issue and control the supply of this new currency. After all, it is evident a digital version of the Singaporean dollar will need to adhere to some very specific requirements. As such, the country’s government has been experimenting with DLT technology and Project Ubin, a venture dedicated to creating a tokenized Singaporean dollar.

This particular project has gone through several iterations already. During the first two stages, it seems a lot of progress was made to build out this DLT infrastructure. While it remains to be seen how blockchain will affect the financial sector as a whole, Singapore’s government seems rather impressed with the usefulness of this technology with respect to organizations replacing banks or central banks. That being said, it’s unlikely that central banks will disappear altogether.

The Monetary Authority of Singapore and a consortium of various banks have been working on this private blockchain venture since November of 2016. Transferring money between the participants seems to be working just fine so far, but it is something entirely different to bring this technology to consumers throughout the country. It is good to hear that the preliminary results of both initial testing phases were positive enough to warrant entering the next stage.

The MAS’s chief fintech officer, Sopnendu Mohanty, noted:

Intermediary expenses are one of the most significant expenses or cost inefficiencies of the financial sector. We see a remarkable opportunity in DLT, and want to take advantage of this technology to distribute risk by changing to a decentralised way of doing all the checks on the data required to render financial services. The first thing we checked was if we could replicate our existing financial payment system on this new platform. Secondly, we wanted to know if we could create a system that would work without a centralised clearing system. In both cases, we could do it.

For now, the goal is still to issue the tokenized Singaporean dollar on an Ethereum-based private ledger. Participating banks could use these tokens to conduct transactions amongst themselves. This seems to indicate that the testing phase will not focus on consumers and retailers as of right now, although that is not entirely surprising. It is evident that Project Ubin is mainly designed to benefit banks and financial service providers, rather than the general public. That is not necessarily a bad thing, mind you.

There is still a lot of work to be done before Project Ubin is production-ready. For one thing, there will need to be additional checks to address AML and other fraud concerns associated with this tokenized currency. Moving money between different jurisdictions is still a pretty troublesome venture, but that is why a partnership with the Bank of Canada was recently forged. As such, the government hopes to fully grasp the potential of distributed ledger technology.

Thankfully, the noxious love-a-thon that is Valentine’s Day is now out of the way for another twelve months. The Hallmark holiday once again drummed up suitable trade for restaurants, jewellers, and purveyors of assorted heart-shaped tat across the planet. No doubt after being indoctrinated into making the most flamboyant display of affection possible, countless blokes got down on one knee to ask their nearest and dearest to spend the rest of their life with them. We all know how it’ll end up. A few years of feigned marital bliss shortly followed by an endless messy divorce. He takes the car and the dog. She gets the house and the kids. But what about the crypto?

Quarrelling couples are finding the lack of regulation surrounding Bitcoin and other digital currencies a particular headache when it comes to dividing possessions after a split. UK law firm Royds Withy King reported that are dealing with at least three cases of divorce that involve potential settlements of Bitcoin, Litecoin, or Ethereum. Whilst two of these involve smaller amounts, one is notable in that the figure the pair are disputing is $830,000.

Business Insider report that the husband of the couple had invested £80,000 ($110,000) in cryptocurrency. This has since multiplied in dollar value and since the divorce, the spouse has decided to try and claim a share.

Speaking with the publication, Royds Withy King stated that partners in the cases were:

“… seeking the disclosure and a potential share of cryptocurrency assets.”

Without regulation or legal precedent governing such matters, the firm is at a loss with how to guide their clients. The number of people involved in similar cases is only set to increase as more people make investments in the digital currency market. One of the partners at Royds Withy King told the news source:

“These are the first cases we have seen, and we expect to see many more… We believe that cryptocurrencies will be a significant feature in a large number of divorces. Whilst cryptocurrencies are volatile, they are not going to go away. It is important that if you believe your husband or wife has invested in or purchased cryptocurrencies, such as Bitcoin, and you are separating, you tell your legal adviser.”

The post Divorce Dispute: Couple Fights Over $830K Of Bitcoin appeared first on NewsBTC.

Japanese cryptocurrency exchange Coincheck has submitted a report to the country’s financial authority outlining measures it will take following the hack that lost 58 billion yen worth of the cryptocurrency NEM from its platform. However, customers rush to withdraw 40.1 billion yen of their funds so far as the exchange resumes yen withdrawal service.

Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies

Coincheck’s Improvement Plans

Coincheck has submitted a report to the Japanese Financial Services Agency (FSA) as mandated under the Order to Improve Business Operations. The order was handed to the exchange by the FSA following the hack that resulted in the loss of 58 billion yen (~USD$544 million) worth of NEM from its platform.

In its report, Coincheck explains key areas of improvement to the agency. Specifically, the exchange detailed four of its plans: “1) investigating the facts and causes surrounding this case, 2) [providing] proper support for our customers, 3) strengthening current measures to manage system risk, 4) creating new measures for system risk management and preventing similar events in the future in addition to making it clear where the responsibility lies for different risks.”

“We plan to continue making meaningful improvements to our system,” the exchange noted, adding:

We are continuing to confirm and improve the security of our systems in order to resume transfers of other cryptocurrencies and begin reparation payments as soon as possible.

Coincheck already provided a preliminary report to the FSA immediately following the hack. The agency then conducted an on-site inspection of the exchange as well as extended the inspections to all other exchanges in Japan.

Customers Rush to Withdraw Funds

On February 13, Coincheck resumed Japanese yen withdrawals as previously promised and successfully processed 40.1 billion yen (~$376 million), the exchange confirmed.

Yusuke Otsuka, Coincheck COO, said at a news conference that “the exchange would be able to meet future withdrawal requests,” but “declined to comment on the total amount of customers’ yen still stored at the exchange,” Reuters reported. He insisted:

We have the funds, but we are making individual checks so there are no problems (with repayments).

The exchange has also promised to repay its 260,000 affected customers but has yet to decide on the timeframe. The FSA also has not confirmed that the exchange possesses enough funds to make the repayments.

Meanwhile, seven cryptocurrency traders filed a lawsuit against Coincheck on Thursday at the Tokyo District Court. The plaintiff’s lawyer Hiromu Mochizuki told Reuters that the suit seeks “to allow withdrawals to private wallets…outside the hacked exchange.” He was further quoted by AFP that “Plaintiffs are demanding Coincheck return their cryptocurrencies – 13 different kinds including NEM.”

Do you think Coincheck will be able to repay its customers and regain their trust? Let us know in the comments section below.

Images courtesy of Shutterstock, Cnet, and Coincheck.

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The post Coincheck Produces Recovery Plan While Investors Flock to Withdraw Funds appeared first on Bitcoin News.