Day: November 17, 2019

China’s Military Newspaper Suggests Soldiers to be Rewarded in Cryptocurrency

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Thanks to President Xi Jinping’s recent game-changing comments about blockchain, the official newspaper of the People’s Liberation Army (PLA), PLA Daily, appears to be poised to see military personnel paid and encouraged in cryptocurrencies as opposed to the Yuan. According to a pro-crypto write-up published by the PLA’s paper, the technology should not be exclusive to civilians. There are a ton of use cases that the technology can offer the military sector. The article opines: “Just as the civilian logistics industry has adopted blockchain to trace and track food supply…

Velas Masternodes Staking Program is Now Live

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Swiss-based Velas, a smart contract platform enabled by Artificial Intuition, has confirmed the official launch of its master nodes staking program. Operating on an AI delegated proof-of-stake consensus (AIDPoS), anyone with the minimum Velas (VLX) coin stake can now participate as a masternode. The launch is part of the project’s alpha release, with a beta launch slated for early next year. Under a dPoS consensus model, tokens can be used in two ways, either for electing nodes or for staking as part of the block production process. The launch of…

ProtonMail Reveals It’s Been ‘HODLing’ Its Bitcoin Payments for Years

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Swiss-based email service, ProtonMail, has revealed on Nov. 16 that it hasn’t cashed in any of the Bitcoin (BTC) it has accepted as payment for its premium service in years.  The tweet was in response to a customer who complained that he felt guilty for spending Bitcoin ion a ProtonMail invoice instead of holding or “hodling” it for the long-term. ‘No worries, we will HODL for you’ The exchange came about following a tweet from the CCO of digital gift card retailer BitRefill, urging Bitcoiners, “Please do not ‘put your…

Crypto Platform Celsius Network Reaches $4.25 Billion in Total Loans

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Cryptocurrency platform Celsius Network announced that it reached $4.25 billion in total crypto loan origination as of Nov. 12 in a press release shared with Cointelegraph. Celsius reached $4.25 billion of cryptocurrency loans since the start of its activity in July 2018 calculated at current Bitcoin (BTC) prices, a 93% increase from the $2.2 billion reported on Aug. 1, 2019. A fast-growing lending network The company also claims $450 million in customer deposits and collateral from loans under management, which represents a 50% increase from $300 million on Aug. 1…

Andrew Yang Will ‘Literally Give Everybody Money’ — Like OneCoin Did

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Bitcoin (BTC) proponents are criticizing United States presidential candidate Andrew Yang after he claimed he was “literally trying to give everybody money.” In an ongoing Twitter debate which Yang started on Nov. 16, Bitcoiners took the presidential hopeful to task over his policy of paying a form of universal basic income (UBI) to all U.S. citizens. Bitcoiners to Yang: It’s fiat, not money “I’m literally trying to give everybody money,” Yang wrote.  Yang plans to provide a united front on cryptocurrency regulation if elected. Unlike previous statements about UBI, which…

Turkey’s Unexpected Rise to the Top of Global Crypto Adopters

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When thinking of countries that are ahead of the curve in crypto adoption, Turkey might not be the first place that springs to mind. However, Statistica’s Global Consumer Survey for 2019 shows that a fifth Turkish residents are acquainted with crypto and have been exposed to it in some form or another. If the figures are true, 20% is the highest proportion of all the countries in the world.  Flying under the radar, Turkey has undoubtedly become a crypto giant, and with President Recep Tayyip Erdoğan recently announcing that testing…

CEO of South Korean Crypto Exchange CoinUp Imprisoned for 16 Years for Fraud

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“Everyday for the thief, one day for the owner,” they say. Well, that proved true in the case of this South Korean crypto exchange, CoinUp, which the police found to be a fraudulent scheme. According to local South Korean news reports, the crypto exchange was involved in an elaborate scam worth over $380 million. The firm allegedly deceived its investors into committing to a worthless digital coin, in the hope of getting a bigger return. CoinUp’s Chief Executive Officer (CEO) Kang Seok-Jung, together with other top executives in the firm,…

‘Plan A Has Failed’ — Global Debt to Hit $255T or $12.1M per Bitcoin

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The world’s combined debt will hit $255 trillion by the end of 2019 — equal to $32,500 for each person on the planet or $12.1 million per Bitcoin (BTC). Bitcoin figures reacted with shock to the latest figures from the Institute of International Finance, which this month updated its Global Debt Monitor.  $12.1 Million per single Bitcoin By the end of the year, the world’s debt will have expanded by an extra $12 trillion compared to the end of 2018.  The timely data comes as United States national debt alone…

BRICS Coalition Plans to Develop a Cryptocurrency for Settlements Between Members

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BRICS, a collaborative group with five members of major emerging nations – Brazil, Russia, India, China and South Africa – has proposed developing a digital currency for payment transactions between these countries. The CEO of Russian Direct Investment Fund (RIDF), Kirill Dmitriev, detailed the developing plan on Thursday at the BRICS forum. RIDF is a $10 billion wealth fund of the country created by the Russian government. The announcement was reported by RBC Group, a Russian news outlet. Dmitriev asserts that members of BRICS plan to develop a singular digital…

‘Extremely Dangerous’ — Bobby Lee Regrets Backing Bitcoin SegWit2x

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Bitcoin’s (BTC) failed hard fork attempt from 2017, SegWit2x, was “extremely dangerous and irresponsible,” says a CEO who was formerly one of its biggest supporters. In a series of tweets on Nov. 16, Bobby Lee admitted he was wrong to tout the long-dead Bitcoin scaling solution. Lee: “Bitcoin is the real Bitcoin”  Co-founder of cryptocurrency exchange BTCC and CEO of wallet manufacturer Ballet, Lee was one of the original signatories of SegWit2x, which aimed to increase Bitcoin’s network capacity by doubling its block size to 2 megabytes. “2 years ago,…