Day: August 6, 2018

LevelTradingField is launching a cryptocurrency derivatives exchange with the help of the ethereum blockchain.

The announcement of the start of Bitcoin futures trading by NYSE’s operator ICE has failed to significantly impact the markets. Let’s check the charts to see what should we expect from the prices

JPMorgan Chase CEO Jamie Dimon has stated in a recent interview that he “probably shouldn’t say any more about cryptocurrency“.

Dimon was quizzed in an interview with the Harvard Business Review in the latest issue about what his current views on cryptocurrency were; a reasonable enough question to ask, given some of his past scathing statements about the technology.

Just to revisit some of these notable moments where the CEO of the largest bank in the US expressed himself without any attempt at holding back. Past tirades against Bitcoin and cryptocurrencies included descriptions of “fraud”, “worse than tulips” and suggestions that he’d fire any JPMorgan trader trading in Bitcoin “in a second”, citing crypto as “stupid” and “dangerous”. His finest hour came with this statement:

“If you were in Venezuela or Ecuador or North Korea or a bunch of parts like that, or if you were a drug dealer, a murderer, stuff like that, you are better off doing it in Bitcoin than US dollars. So there may be a market for that, but it’d be a limited market.”

So why then should he not “say any more about cryptocurrency”, having said so much already? He did speak about cryptocurrency in January of this year and he’d clearly cooled, going for the commonly-used approach used by Bitcoin detractors, of separating crypto from the technology behind it. Talking to Bloomberg, he commented:

“The blockchain is real. You can have crypto yen and dollars and stuff like that. ICOs you have to look at individually. The Bitcoin to me was always what the governments are gonna feel about Bitcoin as it gets really big, and I just have a different opinion than other people. I’m not interested that much in the subject at all.”

Quite a different approach. So between January and August of this year, has his stance warmed even further, or possibly less cooled, towards a subject that in his own words he’s “not interested in? He said in his most recent interview:

“I probably shouldn’t say any more about cryptocurrency. But it’s not the same as gold or fiat currencies. Those are supported by law, police, courts. They’re not replicable, and there are strictures on them. Blockchain, on the other hand, is real. We’re testing it and will use it for a whole lot of things.”

Clearly the same stance as earlier in the year, but none of the previous venom of earlier statements that gained Dimon some unwanted notoriety from the cryptocurrency community at the time.

Some of his former executives clearly see things a different way. Daniel Masters, ex-chief of JPMorgan’s global energy trading has said that cryptocurrencies could no longer be ignored by central banks and governments. Amber Baldet, former head of the blockchain arm at Chase has suggested that banks trading in cryptocurrencies is imminent.

Perhaps the reason why so many of JPMorgan employees such as Baldet are creating their own startups is simply that they can see the potential for both blockchain and cryptocurrency in a future financial system, something that their old boss is still unable to do.

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This article originally appeared on Bitcoin Magazine.

As per new rules requiring members of Congress to disclose cryptocurrency holdings, at least one of the House is now known to have invested in digital assets.

How Many in Congress are Hoarding Cryptos?

Rep. Bob Goodlatte (R-Va) is reported to have stated that he owns amounts of Bitcoin, Bitcoin Cash, and Ethereum.

The rules requiring the disclosure of digital assets were passed in late June of this year by the U.S. House Ethics Committee. They state that all members of the House must report their cryptocurrency holdings in much the same way that they do any other financial assets.

This makes the U.S. system similar to that of Australia. There, the register of members’ interests requires that cryptocurrency holdings are declared by those serving in government.

In addition, the new U.S. rule change requires members to report transactions using digital currencies within 45 days. This is consistent with the laws governing the disclosure of any other transactions made by members of Congress.

According to a report in news publication Sludge, Goodlatte is the only member of the U.S. government who has come forward about his digital currency investments. He holds somewhere between $17,000 and $80,000 worth of cryptocurrency. The disclosure of his digital currency holdings was actually made before the new rules came into force. It states that he mostly owns Bitcoin, but also has smaller amounts of both Bitcoin Cash and Ethereum.

It’s likely that Goodlatte’s decision to buy digital assets was inspired by his son, Bobby Goodlatte Jr. He has previously invested in the massive crypto brokerage Coinbase and has engaged in bullish price speculation in the past too. However, precise details of this investment or whether he discussed the topic of cryptocurrencies with his father at all are unclear.

Even though Goodlatte is the only confirmed member of Congress to own cryptocurrencies, more are expected to disclose their holdings in the near future.

Several members are thought likely to have invested in the space. These include: Rep. Jared Polis (D-Colo.), Greg Gianforte (R-Mont.), David Schweikert (R-Ariz.), and Sen. Mark Warner (D-Va.). Each has publicly attested to the potential of blockchain technology or cryptocurrencies in the past.

In fact Warner has even gone as far as a to claim that the entire digital currency sector could expand to a massive $20 trillion market capitalisation by 2020. During a hearing of the Senate Banking, Housing, and Urban Affairs Committee this year, he stated:

“I think we may be on top of something that is transformational… If we have the same rate of increase the next two years that we’ve had the last couple of years, we’d be at north of $20 trillion [market capitalization] caught up in this area by 2020.”

Featured image from Shutterstock.

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A long-awaited approval on a bitcoin exchange-traded fund (ETF) may not come until 2019.

Bitcoin News Press Release: Privacy-centric cryptocurrency Dash has announced its latest partnership with blockchain marketplace TriveChain to allow for a smart integration of dApps allowing payment in both Dash coin and TriveCoin.

August 4, 2018 – Dash — a 14th globally-ranked cryptocurrency with total market capitalization of USD1.8 billion — has just entered into a partnership agreement with TriveChain. The forward-thinking partnership will allow Dash to integrate its payment system into BizStore, a blockchain marketplace powered by TriveChain. This integration will enable applications (BizApp) in BizStore to perform payment transactions not only using TriveCoin but with Dash coin also.

The intelligent integration of applications into a blockchain market like BizStore is a first of its kind to launch globally. Both Dash and TriveChain saw a great opportunity. WeChat — the Chinese messaging, social media and mobile payment app — generates billions of sales every year in BizStore. Through this innovative solution, app publishers would only have to pay a nominal fee with TriveCoin to list on BizStore, and enjoy higher profit margins, without having to incur the 30% sales commission that app publishers pay elsewhere.

The TriveChain community in Asia is growing fast; in part due to its cost-effective, efficient, and user-friendly features. Couple that with a payment transaction speed as fast as 4 seconds, and you see why the community is flourishing.

App developers from around the world are joining the movement, building breakthrough applications on BizStore. The BizStore.io platform provides SDK, thus simplifying the difficult process, in addition to build-and-get-paid functionality. Development teams of any size can publish and bring their app to an untapped market, through BizStore in the TriveChain wallet.

The TriveCoin wallet can be downloaded at both Google Playstore and iOS App Store at:
https://play.google.com/store/apps/details?id=org.trivecoin.wallet&hl=en
https://itunes.apple.com/my/app/trivecoin-wallet/id1406948103?mt=8

About Dash

Dash is an open source peer-to-peer cryptocurrency and decentralized autonomous organization (DAO). It features instant transactions, private transactions and a self-funded, self-governed organizational structure.

Dash’s self-funded, self-governed organizational structure, referred to as the treasury system or decentralized governance by blockchain, makes Dash a DAO. A global network of masternodes vote on proposals for improving Dash’s ecosystem. Approved proposals are funded from the treasury, which receives 10% of all newly created Dash, with 45% allocated to miners and 45% to masternodes. Running a masternode requires ownership of 1,000 Dash. Dash’s network has grown to 4,100 masternodes since launch in 2014, making Dash’s peer-to-peer network one of the largest in the world.

About TriveChain

TriveChain is the blockchain of TriveCoin, a core system of TriveCoin that allows new businesses to market their products and/or services on the TriveCoin community, and generate native tokens effectively through TriveCoin’s BizContract. This mechanism gives tremendous opportunity to any businesses to crowdfund their project via initial coin offering (ICO).

The process of tokenization is generated through TriveChain, where these tokens are virtual coins built on top of TriveCoin’s platform, making the tokens programmable and customizable to the developer’s needs. These tokens are open-source, self-governing, and free for anyone to use, whilst facilitating guaranteed agreements, token-based voting systems, digital currencies for decentralized apps and tokenized assets.

Additional features include utilizing both Proof-of-Work and Proof-of-Stake based algorithms in a hybrid fashion to increase security and sustainability, a rewards-based double-tier network known as Trive VIP Masternode Network (TVIP), ExclusiveSend which for increased user privacy protection and Direct Send, a decentralized instantaneous transaction system.

On July 1, TRVC had been listed on Bitrabbit.com. Bitrabbit is Australia’s largest cryptocurrency exchange and supports dozens of currencies. The listing on Bitrabbit will give TRVC fluidity, enabling holders to buy, sell and exchange other major cryptocurrencies including Bitcoin, Litecoin, Ethereum and Zcash.

Learn more about TriveCoin: https://www.trivecoin.org
Mine TRVC at the TriveCoin official mining pools: https://trivecoin.com, https://Kobepool.com and https://x11hashers.com
Join TriveCoin at Facebook: http://facebook.com/trivecoin
Follow TriveCoin on Twitter: https://twitter.com/TRIVECOIN?s=08
Chat with TriveCoin in English on Telegram: www.t.me/trivecoin
Chat with TriveCoin in Chinese on Telegram: www.t.me/trivecoinCN

Media Contact
Contact Name: Mark Tilger
Email: [email protected]

TriveCoin is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all. Token sales are only suitable for individuals with a high-risk tolerance. Only participate in a token event with what you can afford to lose. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

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Image Courtesy: TriveCoin

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Coinbase has hired Amazon Web Services general manager Tim Wagner as its new vice president of engineering.

New research finds a crypto-related Twitter scam botnet of at least 15,000 bots spreading fake giveaways

Following the raid of South Korea’s largest cryptocurrency exchange UPbit on insolvency charges, an audit has confirmed that all of its digital currency balance sheets have not been subject to manipulation and the platform has the total funds it claims.

Officials took action in May after concerns were raised that UPbit was inflating its trading volumes while manipulating the balance sheets to match. South Korea’s Financial Services Commission and Korea Financial Intelligence Unit took documents and hardware from the exchange’s headquarters to appraise the details in line with the anonymous tip-offs claiming its insolvency.

A recent evaluation by one of the country’s largest accounting firms, Yoojin, declared that UPbit was operating with all of the declared assets, with the results of the audit published by Korean internet provider Kakao’s subsidiary company Dunamoo. While this has reassured many local investors using the platform, the lack of a response from the local government has led critics to query the legitimacy of the audit.

Details of the audit claim that the cryptographic screening shows UPbit has around 103% of the money based on the total needed to be paid to customers, with the aggregate funds of the exchange reaching 127% of the total that it holds for customers.

The president of Dunamoo Lee Seok-woo attested the authority of the results, saying UPbit has enough money to compensate all customers whenever they wish to withdraw their funds. He also noted that the exchange would comply with regular audits in the future to prove its financial conditions are fully legally compliant.

The recent hack of South Korean exchange Bithumb ignited mistrust with the platform, pushing UPbit to the country’s number one cryptocurrency exchange spot. Shinhan Bank-backed platform Gopax is expected to overtake the trading volume of both exchanges in the near future.

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Mining hardware giant Bitman has announced that its newest blockchain data center will be located in Rockdale, Texas, in Milam County.

According to a press release released today, developed of the new facility will begin in early 2019, and the company expects the center to be fully operational in about two years, bringing over 400 new jobs to the city. The company will also be investing in programs to educate and train potential employees in the workings of blockchain technology.

The facility marks an estimated $500 million investment in the local and statewide economy over a period of seven years. It also signals a growing movement for international blockchain and cryptocurrency companies to expand operations in the U.S. as a friendly regulatory climate develops.

Milam County, where the facility will be located, has seen tremendous economic weakness in recent times due to the closure of the county’s coal mines. Bitmain’s decision to locate the data facility in Milam County was first rumored by local news publication Dallas News in a July 19th report. The decision wasn’t confirmed by the company until August 6th.

Construction of the facility is already underway and is expected to be completed in the fourth quarter of 2018. This will be proceeded by the initiation of the data center in the first few months of 2019, at which point the company will begin hiring and training members of the community for careers within the data center.

Jeff Stearns, executive vice president and director of operations for Bitmain, North America, spoke about the facility, saying:

“Bitmain is truly honored to announce this news and is excited to work with local partners, government and stakeholders in realizing this vision, throughout the initial set-up phase, operations and beyond.”

Bitmain’s Expansion to the US Amidst Greater Regulatory Clarity

News of Bitmain’s Texas-based blockchain data facility follows reports that the company is building similar facilities in Washington state.

This past April, the cryptocurrency giant received controversial approval to begin construction on a massive mining operation in the state. Critics of the Washington mining facility claimed that it would generate wealth for the corporation, but that the wealth wouldn’t trickle into the pockets of the employees.

Bitmain’s expansion into the United States comes as the federal government is promoting greater freedoms for fintech companies. In a recent Treasury report addressed to President Donald Trump, the U.S. Treasury Department claimed that the best regulatory environment for fintech companies (including blockchain companies) is a sandbox environment, that allows for operation and experimentation without being suffocated by regulations.

The report said in part:

“Support of innovation is critical across the regulatory system — both at the federal and state levels…Treasury supports encouraging the launch of new business models … to pursue innovative technologies to lower costs, improve customer outcomes, and improve access to credit and other services.”

In addition to expanding operations into the U.S., Hong Kong-based Bitmain has also been looking to expand operations to Brazil. The company has also successfully opened cryptocurrency mining facilities in Israel and Switzerland, securing their position as a multi-billion-dollar international powerhouse.

Featured image by Shutterstock.

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At press time, the price of everyone’s favorite cryptocurrency has shrunk back to $6,900. This is about $100 less than where it stood yesterday.

Bitcoin was trading for about $6,900 on Saturday, though it shot back up to the $7,000 range yesterday afternoon. It appears the bear run isn’t quite over yet, as bitcoin is still experiencing instability in its present status.

The currency has been engaged in a massive sell-off since July 23 according to one source, and most of the cryptocurrency space has been relatively unstable. Many believed the price hikes occurring prior to that time were the start of a new bull run; however, bitcoin’s jump beyond $8,000 in such a short period was likely to cause another pullback. The currency has since lost upwards of 20 percent since it began that run.

We may see bitcoin trading for $6,800 in the coming days, though it still runs the risk of dropping back down to $6,100 if the bulls aren’t careful.

Interestingly, Goldman Sachs recently commented that it expects to see more dips occurring in the bitcoin price, though it has no plans to cancel its bitcoin trading desk. It is believed by one source that this desk is likely to cause spurts in the price, and that it will attract further institutional traders, thereby bringing legitimacy to the arena and causing even more price bursts.

In addition, Goldman Sachs says it’s considering offering bitcoin and cryptocurrency-based securities, though no formal decision has been made as of late. Representatives recently stated:

“In response to client interest in various digital products, we are exploring how best to serve them in this space. At this point, we have not reached a conclusion on the scope of our digital asset offering.”

Goldman Sachs has taken many steps to ensure bitcoin and cryptocurrencies receive the attention and trading exposure they deserve. One major step was the hiring of David Solomon as the bank’s new chief executive just a few months ago, so it’s interesting that despite all this hard work, staffers appear convinced that bitcoin is destined to fail.

Goldman has also commented that it is looking to add “further bitcoin and crypto services” to its portfolio. The big question is why would a company continue to put so much time and effort into something it’s so certain will disappear?

Probably because Goldman knows there’s an audience for these kinds of services. Whether enthusiasts choose to believe in bitcoin’s demise or not, there’s clearly a group – a growing group – of people that are certain it’s going to live on and potentially change the financial infrastructure as we know it, and Goldman likely realizes there’s profit to be made in this department.

Bitcoin Charts by TradingView

There are a lot of misconceptions regarding illegal activity on the internet. Although there is a lot of dark web activity, there are also rumors about an even bigger cesspool of crimes that shouldn’t see the light of day. Often referred to as the Shadow Web, there are still conflicting opinions as to whether or not it actually exists.

The Shadow Web Controversy

Most people associate illegal activity with the dark web. This is a part of the internet which cannot be accessed through traditional connections, and most of its content can’t even be found using search engines. It is a place where both legal and illegal activities can take place without restrictions or repercussions.

At the same time, there have always been rumors that the dark web is only the “top layer” of illegal activity. Everything one can think of can be found on the internet, although some types of content will always be shunned. This is partially where the Shadow Web rumors come from, as it is rumored to be a place where the darkest content can be found.

Among the rumored content types are live beheadings and other creepy videos. While no one doubts that there would be a market for people who like their murder live and on demand, there is no part of the internet which provides access to this information. That is a good sign, even though some fake websites claim otherwise.

Because rumors of a Shadow Web have existed for so long, it has attracted a Bitcoin connection. Various websites on the dark web claim to offer exposure to the Shadow Web in exchange for Bitcoin. There is no such thing as the Shadow Web, at least not to anyone’s knowledge. That doesn’t mean it will never exist, but until it’s proven, any gateway to this hidden corner of the World Wide Web is fictitious.

The dark web has proven to be an interesting collection of services, websites, and content types. Some very dark information resides on the dark web, but there is no “layered structure” to this industry. Comparisons between Dante’s Inferno’s levels of hell and the dark web have been made before, although no evidence has ever been turned up to lend credibility to such claims.

Despite the obvious lack of credible evidence, some users continue to claim the Shadow Web is a real thing. It is an urban myth in the technology world, and one that has created some fascinating discussions. The existence of the Shadow Web will always remain questionable, with most people leaning toward dismissing it entirely. One day, that situation may come to change, for better or worse.