Day: February 1, 2019

Securities Lawyer Advises People Buy Bitcoin against $22 Trillion US Debt

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The US national debt now stands at $21.974 trillion, a 10% increase since President Donald Trump took over the oval office. And according to Jake Chervinsky, bitcoin is just the needle people need to pop the debt bubble. Fed Chair Jerome Powell, talking about the $22 trillion US debt: “I’m very worried about it, but from the Fed’s standpoint . . . the long-run fiscal non-sustainability of the US federal government isn’t really something that plays into . . . our policy decisions.” Buy bitcoin. — Jake Chervinsky (@jchervinsky) February…

Nurse Accused of Selling Drugs on Silk Road and other Darknet Marketplaces for Bitcoin

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A nurse in California has been arrested on suspicion of illegally selling opiates on the dark web on marketplaces such as Silk Road, AlphaBay, and Pandora in exchange for bitcoin since 2013. She was arrested last week and could face distribution and conspiracy charges.  Running a Successful Illegal Pharmacy on the Dark Web The Daily Mail reported that California resident Carris Alaine Markis has sold over 20,000 opiate pills, including lethal drugs such as fentanyl and morphine, on various dark web marketplaces in the last six years. The 46-year old registered nurse allegedly…

Reverse IPOs Slowly Growing as Cryptos Look to Go Public in the Long Bear Market

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In a transaction that has all the hallmarks of a reverse initial public offering (IPO) — also called a reverse merger — OKC Holdings Corp., which is the parent company of OKCoin and OKEx (the world’s second-largest cryptocurrency exchange by trading volume) bought a controlling share in Leap Holdings Group on Jan. 14. Leap Holdings is a construction company listed on the Hong Kong Stock Exchange (HKEX), with a market cap of 978 million Hong Kong dollars ($124.7 million). OKC Holdings bought 3,182,790,001 shares at a price of HK$0.1520 ($0.019)…

Ethereum 2.0 Pre-Release Kicks Off ‘Relatively Feature Complete’

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Ethereum (ETH) has launched its first pre-release for phase zero of the network’s evolving transition to Ethereum 2.0, according to new post published to Ethereum’s github on Jan. 31. The post notes that “this marks the first release in a series of weekly releases through February 2019. Phase 0 in v0.1 is relatively feature complete and approaching stable.” Ethereum 2.0, also known as Serenity, is planned to be the system’s final upgrade, as the entire network transitions from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus algorithm, and tackles fundamental…

UK Crypto Liquidity Provider Receives Financial Regulator’s Approval

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United Kingdom crypto liquidity startup B2C2 OTC Ltd. has received approval from the country’s Financial Conduct Authority (FCA) on Wednesday, Jan. 30, according to a record in the FCA’s register. A separate press release notes that B2C2, which also provides electronic over-the-counter (OTC) trading, can now offer contracts for difference (CFDs) to eligible counterparties and professional clients. The firm’s co-founder, Max Boonen, believes the acceptance of the license will allow investors to gain exposure to cryptocurrency markets while avoiding the risks associated with crypto custody. Moreover, the FCA may compensate…

Second-Largest Korean Political Party to Implement Blockchain for Member Processes

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South Korea’s conservative political party, the Liberty Korea Party (LKP), has declared their aim to use blockchain technology in four major areas, according to an official announcement published on Jan. 31 . The LKP, previously known as the Saenuri Party, is currently the second-largest party within the South Korean national legislature, occupying more than one third of the 20th National Assembly seats. As of 2015, the LKP includes more than 3 million members. The party intends to enter a new era of open digital democracy by implementing blockchain technology, according…

Ethereum Startup Aragon Weighs Launching a Second Network on Polkadot

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Ethereum startup Aragon is considering building a second network on the blockchain interoperability protocol known as Polkadot. While the firm stressed that it still intends to launch the Aragon Network on the ethereum blockchain this year, CTO Jorge Izquierdo revealed at its Aracon conference this week that it may additionally launch aragonOS, a framework to build smart contracts, on Polkadot. “The idea is to make most aragonOS transactions almost free and very optimized, so users can seamlessly run [decentralized autonomous organizations] in a cheaper and faster way,” said Aragon CEO Luis…

US-Based Tech Company Sheds Light Into Alleged Attack of its Crypto Wallet

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Tech Startup Reveals Details Regarding Previous Attacks, Releases Various Updates U.S.-based tech company Bitfi witnessed scrutiny following the launch of its hardware wallet and bounty program. After being implicated in a dispute on social media where several hackers and security professionals claimed they hacked the Bitfi wallet, the company has shed light into the event and has released a new model DMA-2. These security professionals discovered a vulnerability wherein the private key remained in memory for some time which was not ideal, according to Bitfi.  The company has since made…

Proof-of-Stake Token Investors Could Use Staking For Gains During Bear Market

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A Bloomberg article published today, Feb. 1, suggests that proof-of-stake (PoS) token investors have a unique option to survive the protracted crypto market slump: staking their holdings. In blockchains that use a PoS system — as opposed to proof-of-work (PoW) — nodes in the network engage in validating blocks, rather than mining them.  A deterministic algorithm selects block validators based on the number of tokens a given node has staked in their wallet — i.e. deposited as collateral in order to compete to add the next block to the chain.…

Ripple XRP in Pump-and-Dump Scenario, Corrects 12% from Weekly High

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A substantial Ripple rally fizzled as the asset’s value fell as much as 12% from its weekly high. The XRP-to-USD exchange rate (XRP/USD) dropped to an intraday low at 0.3003 this Friday. Earlier yesterday, the pair had established a new weekly high at 0.3429 owing to global banking giant Swift’s announcement of integrating R3 Corda, which supports XRP as its native token. Traders treated the event as the sign of the next bull wave. The price surged impressively but found its upside momentum capped on a higher high formation towards…