Day: September 28, 2019

Class Action Complaint Filed Against Patrick Byrne and Overstock.com

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A new complaint filed in Utah accuses Overstock.com, former CEO Patrick Byrne and former CFO Greg Iverson of securities fraud. The complaint Filed on Friday, Sept. 27, the complaint requests a trial by jury, alleging that Byrne designed Overstock.com’s digital asset-based dividend as a means of punishing short sellers, which other outlets have alleged previously. On the subject, and in language more dramatic than many legal filings, the complaint reads:  “While defendant Byrne had previously, at different times, launched into public tirades over short selling and naked short selling, the…

Crypto News From the German-Speaking World: Sept. 22–28 in Review

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The German-speaking world has experienced another week full of exciting developments in the crypto industry, with a Berlin-based fintech startup receiving $1.5 million to develop its own blockchain, German experts warning about Facebook’s crypto coin, and the Federation of German Industries asking the government to create suitable conditions for blockchain. Here is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph auf Deutsch. German fintech startup receives $1.5M to develop its own blockchain On Sept. 23, Cointelegraph auf Deutsch reported that the Berlin-based fintech…

Government of Uzbekistan Triples Tax on Electricity for Crypto Miners

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The government of the Republic of Uzbekistan has ordered a 300% increase on electricity tariffs for cryptocurrency miners. According to a Sept. 27 announcement, the Cabinet of Ministers of the Republic of Uzbekistan has decreed that cryptocurrency miners must pay three times more the existing electricity tariffs.  The provision follows an Aug. 22, 2019 decree from President Shavkat Mirziyoyev entitled “On Accelerated Measures to Improve Energy Efficiency of Economic Sectors and the Social Sphere, Implement Energy Saving Technologies and Develop Renewable Energy Sources” and to further motivate the rational use…

SegWit, Explained | Cointelegraph

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5. SegWit is associated with Bitcoin and its core principles, so its strengths and weaknesses will vary depending on who is observing it. SegWit’s ability to give blocks more weight, or transaction density, relies on the idea that some blockchain data will be kept off the original chain, which is instead used as a sort of reference or index. Some believe that offloading data from the blockchain is already a failure, as it’s like admitting that blockchain alone can’t function.  From this perspective, SegWit itself is a weakness infecting Bitcoin,…

Altcoins Crash to Six-Month Lows as Fears of ‘Crypto Winter’ Return

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The market for alternative cryptocurrencies is on life support this weekend after crashing to six-month lows on Thursday, the casualty of a sudden correction in the price of bitcoin (BTC). Altcoins have since recovered from their lows but remain at the precipice of another violent drop – a move that could usher in a new ‘crypto winter’ with devastating consequences. Crypto Markets Recover Slightly The combined altcoin capitalization fell to $66.1 billion on Thursday, the lowest since March, according to CoinMarketCap. By Saturday, the combined market cap was worth just…

Altcoins Crash to Six-Month Lows as Fears of ‘Crypto Winter’ Return

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The market for alternative cryptocurrencies is on life support this weekend after crashing to six-month lows on Thursday, the casualty of a sudden correction in the price of bitcoin (BTC). Altcoins have since recovered from their lows but remain at the precipice of another violent drop – a move that could usher in a new ‘crypto winter’ with devastating consequences. Crypto Markets Recover Slightly The combined altcoin capitalization fell to $66.1 billion on Thursday, the lowest since March, according to CoinMarketCap. By Saturday, the combined market cap was worth just…

ConsenSys and WWF Roll Out Platform for Transparency in Philanthropy

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ConsenSys, a blockchain startup founded by Ethereum’s (ETH) co-founder Joseph Lubin, and the World Wildlife Fund (WWF) have jointly launched the Impactio platform to bring transparency into philanthropy. Per an announcement made on Sept. 24, a new partnership between ConsenSys and the WWF resulted in an Ethereum blockchain-based platform dubbed Impactio designed to supervise and fund projects within nongovernmental organizations and standalone companies. The impetus behind the initiative is to trace how companies’ funds are spent within social impact projects. What does Impactio solve? Individuals and companies who utilize Impactio…

Everything You Need to Know

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Bitcoin (BTC) has a unique advantage: self custody, which the traditional financial system cannot compete with. It is important that the Bitcoin ecosystem maximizes this competitive advantage in order to compete with the legacy system. Custodial solutions are important for financial markets, whether traditional or innovative, and have been historically limited for Bitcoin. But why do institutional investors need custodial services, and what are the unique challenges of Bitcoin custody? Why institutional investors need custodial services There are two main reasons why institutional investors need custodial services: reducing risk and…

Bitcoin Cash Meetups Help Plant the Seeds of Economic Freedom

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Our newsdesk recently caught up with Bitcoin.com’s community manager Chris Bridgman who discussed the recent expansion of Bitcoin Cash-focused meetups worldwide. Over the last two years, Bridgman and his partner Akane Yokoo have seen BCH meetups grow from a small handful to around 90 BCH-based gatherings in a number of different countries. Also read: Software Engineer Reveals Oracle Creation Platform for Bitcoin Cash Growing the Bitcoin Cash Community There are numerous ways people can learn about cryptocurrencies and blockchain technology and most of the time individuals research these subjects online.…

Crypto News From the Spanish-Speaking World: Sept. 22-28 in Review

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Spanish-speaking countries made headlines this week, with cryptocurrency and blockchain-related developments on both the governmental and enterprise level. The Congress of the Republic of Peru spoke about the potential of blockchain tech, blockchain firm Aeternity revealed the development of a network that enables the management of the supply chain of medical cannabis, Venezuela’s central bank explored the possibilities of holding crypto in its coffers, and a subsidiary of Argentinian smart contract platform RSK purchased Latin America’s social media giant Taringa. Here is the past week of crypto and blockchain news…