Day: July 22, 2020

The Cat in the Hat Is Coming to the Blockchain

boss

Leading NFT collectibles issuer Dapper Labs has announced a deal with Dr. Seuss Enterprises to launch tokenized collectibles depicting the firm’s iconic characters. Dapper Labs, the team behind the pioneering non-fungible token (NFT) game CryptoKitties, has partnered with Dr. Seuss Enterprises to launch tokenized digital collectibles depicting the company’s most iconic characters. Announced on July 21, the deal will see digital experiences created alongside tokenized representations of Dr. Seuss’s most popular characters include Cat in The Hat, The Lorax, and Thing One and Thing Two. Cat In The Hat goes…

We’re Not Liable for Crypto Scams

boss

YouTube’s legal team has argued the platform is immune from liability for cryptocurrency scams perpetrated as part of its video content or descriptions.  Attorneys for Ripple and CEO Brad Garlinghouse filed a lawsuit against YouTube in April in response to the platform’s failure to stop XRP scammers and impersonators. Ripple argued that the platform benefits from the actions of the scammers by profiting from paid ads. But according to a July 21 update on Law360, lawyers for the video-sharing platform argued in a dismissal bid that Section 230 of the…

Australian Reserve Bank Blasts Money Printing: ‘There’s No Free Lunch’

boss

Australian Reserve Bank governor Philip Lowe has taken a swipe at the concept of money printing, as further fiscal stimulus measures are rolled out in the country amid the ongoing pandemic. In a speech in Sydney on Tuesday, the central bank boss said the government could borrow “on very favorable terms” and said public debt was currently much lower than in many other countries. Calls for money printing are misguided he said: “There is no free lunch. The tab always has to be paid and it is paid out of…

OpenAI Bot Writes a Blog, Wows BitcoinTalk With ‘Intelligent’ Posts

boss

Developer Manuel Araoz has played a practical joke online to demonstrate the potential of  artificial intelligence bots — by having a bot write an article about itself. According to a July 18 post on Araoz’s blog, AI development company OpenAI released GPT-3, the third generation of its language prediction model capable of creating “random-ish sentences of approximately the same length and grammatical structure as those in a given body of text.”  The blog entry provides practical information regarding how the technology could be used to impersonate well-known figures by simulating…

Indicators Suggests Bitcoin Is Gearing For Another Lift-Off To $9,550

boss

Bitcoin gained more than 2.5% and broke the main $9,300 resistance against the US Dollar. BTC is currently consolidating gains and it is likely setting up for more upsides towards $9,550. Bitcoin gained bullish momentum above the $9,200 and $9,300 resistance levels. The price is currently consolidating above $9,300 and it is well above the 100 hourly simple moving average. There is a short-term contracting triangle forming with resistance near $9,385 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to continue higher…

Vitalik Buterin Warns High Fees Threaten Ethereum’s Security

boss

Ethereum (ETH) co-founder Vitalik Buterin has called for reform to the cryptocurrency’s fee system, warning that rising transaction fees could undermine the security of the network. The idea is based on a paper that suggests miners’ increasing reliance on transaction fees may incentivize selfish mining practices in a bid to extract greater profits, risking disruptions to how transactions are processed.  Buterin’s comments come as users report Ether transaction fees tagging 100 gwei. Mythos Capital founder Ryan Adams tweeted earlier today that the Ethereum network must “find ways to fit more…

Twitter Hackers Try to Launder Funds Via P2P and Gambling Platforms

boss

Blockchain forensics firm Ciphertrace has traced funds obtained by the Twitter hackers in the ‘giveaway’ scam to peer-to-peer (P2P) exchanges and crypto gambling sites. On July 21, Ciphertrace reported that 0.2 Bitcoin (BTC) had been transferred to a P2P exchange via a ‘peel chain’ also used by the hackers to move funds to a crypto casino. Peel chains comprise chains of wallets that funds incrementally pass through to obfuscate the movement of illicitly obtained crypto. The tactic is believed to be favored by North Korean hackers — with Ciphertrace estimating…

Vitalik Buterin Calls For Ethereum Transaction Fee Reform as Gas Costs Surge

boss

While Ethereum’s recent uptick in adoption has been welcomed by many, it has had a strong side effect: rapidly increasing transaction costs. According to Glassnode, a blockchain data upstart, the daily median gas price has increased by “more than 5x” since April. The gas price has now reached 50 Gwei, a nearly two-year high. #Ethereum gas prices continue to rise. The daily median gas price has increased by more than 5x since April, surpassing 50 Gwei yesterday for the first time in almost 2 years. Live chart: https://t.co/jAzTVXZoVy pic.twitter.com/nN2ToIOuZE —…

Ethereum 2.0 Final Testnet Set to Launch on August 4

boss

The long awaited Ethereum 2.0 network upgrade has taken one step closer to launch with a preliminary date announced for the final planned public testnet.  The platform’s launch coordinator, Danny Ryan (@djrtwo) shared the news on the testnet’s discussion board on Discord.  “After discussions with client teams, the next multi-client testnet (mainnet config including min validator numbers) will have a min genesis time of August 4th,” Further details would be made public in a couple of days, the Ethereum developer added. Phase 0 of ETH 2.0 has been running on…

Coinbase Prevented Users from Sending $285k in Bitcoin to Twitter Hackers

boss

Data shows that the impacts of the recent Twitter hack were fairly limited, with a small handful of users sending just over $100,000 worth of Bitcoin to the address shilled as part of a classic crypto giveaway scam. According to recent reports, it appears that the impacts of the scam were almost far greater than this, however, as cryptocurrency exchange Coinbase stopped over 1,100 customers from sending BTC to the hackers. This news highlights both the benefits and flaws of centralized exchanges. Impacts of Recent Twitter Hack Limited Last week,…