Day: September 20, 2018

Charlie Lee Defends Litecoin Against ‘FUD’ from Short-Sellers

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Litecoin creator Charlie Lee is striking back at what he calls a “concerted effort to suppress” the LTC price on the party of bearish traders and hedge funds who are attempting to short the coin. Writing in a thread posted on Twitter, Lee — who created LTC in 2011 and now develops it full-time — said that he wanted to clear up “FUD” circulated by groups that “see Litecoin as a threat.” Lee was apparently responding to an explosive report from cryptocurrency hedge fund Multicoin Capital which, among other things,…

“Someone’s Got to Be the Voice of Reason” — Kraken Responds to NY AG Report

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The New York Attorney General’s office has pointed a finger at cryptocurrency exchange Kraken for “potential” violation of state regulations. Now, the San Francisco–based exchange is firing back, saying it does not appreciate what it sees as implications of illegality. “Someone has to be the voice of reason,” Jesse Powell, Kraken’s outspoken co-founder and CEO, told Bitcoin Magazine. “If we all accept corrupt practices as the norm, without saying anything out of fear of unlawful retaliation, what the hell are we doing this for?” In April 2018, as part of…

Can Crypto Record a 1,000x Return and Reach $200 Trillion Market Cap?

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Last week, statements from Binance CEO Changpeng Zhao (aka CZ) and Ethereum co-creator Vitalik Buterin led the community to speculate on the possibility of the crypto market achieving a 1,000 return in value in the long-term. On Sept. 8, Buterin stated with the awareness of cryptocurrencies by the general public and mainstream reaching a peak in late 2017, it is unrealistic for the valuation of the crypto market to increase by a thousand fold from its current value at $200 billion. A thousand fold increase from $200 billion is $200…

Bitcoin Price Intraday Analysis: BTC/USD Gaining Towards 6500-Fiat

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Bitcoin on Thursday improved its bullish bias by rising over 1.5 percent against the US Dollar. The BTC/USD on BitFinex is trading at 6421-fiat while continuing its bullish retracement from 6100-fiat, our intraday low. The pair kickstarted the Asian session while forming lows towards 6382-fiat. It consolidated sideways throughout the said session within a strict trading range. 6400-fiat continued to be the level of interest, meanwhile. BTC/USD never slipped too below the stated level, nor surged too far from it. During the European session, the pair once made higher highs towards…

Crypto Thefts Have Tripled This Year, Totalling $540 million So Far

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Japan’s National Police Agency has revealed that a staggering 60.503 billion yen ($540 million) worth of crypto was stolen in the first six months of 2018, Asahi Shimbun reports September 20. The agency is said to have stated that the number of reported incidents involving crypto thefts has hit 158 over the course of the first half of this year, triple the number of incidents reported for the same time period in 2017. For the entirety of 2017, around 662.4 million yen ($5.91 million) worth of crypto was reportedly stolen…

Brazil Moves to Probe Banks After Crypto Exchanges Denied Services

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Brazil’s antitrust watchdog is investigating whether the major banks in the country worked together to close off access to cryptocurrency services. The Administrative Council for Economic Defense (CADE), an official wing of the Brazilian government, announced it was looking into the Banco do Brasil, Banco Bradesco, Itau Unibanco Holding, Banco Santander Brasil, Banco Inter and Sicredi, according to a report from Reuters. These banks allegedly shut down accounts belonging to cryptocurrency traders and brokerages. The investigation comes some months after the Brazilian Association for Cryptocurrency and Blockchain called for such a probe, with the…

Japan Lost $540 Million to Crypto Hacks in First Half of 2018

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After news broke yesterday of yet another hack of a cryptocurrency exchange in Japan, the country’s police authority has released figures revealing the rise in such attacks this year. According to a report from The Asahi Shimbun Thursday, the National Police Agency (NPA) has released data for the first six months of 2018 that reveal cyberattacks on crypto wallets and platforms tripled over the same period last year. The NPA said that, through 158 cyber-breaches, hackers had stolen a massive 60.503 billion yen (around $540 million) worth of cryptocurrency. That…

One of Investors’ Favorite Governance Blockchains Is Handing Over $20 Million

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Governance is one of the hottest topics in crypto right now – and Decred developers’ take is that the community should decide. And, by way of the release of a communication tool called Politeia, they will soon be giving that community $20 million in DCR tokens to manage. Stepping back, Decred was built by a startup called Company 0, which has among its ranks developers that go back to bitcoin’s early days. For instance, Decred’s CEO Jake Yocom-Piatt built btcsuite, a software for interacting with bitcoin using Google’s programming language, Go, with…

NIIT Technologies Release Blockchain-Powered Chain-m For Airline & Its Partners

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NIIT Technologies recently released its blockchain-powered solution Chain-m for airlines and their partners in the business. With the help of Chain-m, airlines and their associates can handle all the challenges they face to fulfill the backend process of settlements. The IT services providing company has clients across major verticals including travel and transportation, insurance, banking, and financial services, media and manufacturing. The Indian company offers a wide range of services including infrastructure management, application development and maintenance, and business process management. Chain-m to make ticketing process transparent NIIT Technologies’ Chain-m…

How On-Chain Voting Protocols Operate and Vary

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Since Bitcoin’s introduction in 2009, there have been several attempts to include a decision-making process as part of the rules of a blockchain. This is called on-chain governance, a formalized way in which a group of people can make changes by voting through the protocol. The purpose behind it is to provide a clear-cut path to consensus. What are some examples of people using on-chain governance? It can include — but is not limited to — the following three topics: Changes in the existing protocol and parameters of a blockchain.…