Category Archives: Cryptocurrency

Vitalik Buterin: Don’t Invest in Cryptocurrency More Money Than You Can Afford to Lose

The founder of Ethereum Vitalik Buterin warned investors about the risks existing at the cryptocurrency market and advised them not to invest all their savings in the new asset class.

Buterin not for the first time points to the community’s obsession with making a profit on the cryptocurrency market, as it, in his opinion, doesn’t contribute to achieving something real meaningful for the industry.

Earlier, Bitcoin Core developer Gregory Maxwell criticized Vitalik Buterin for supporting the “rescue hardforks” to restore stolen or frozen funds. Maxwell stressed that in this case the system has already failed.

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Mining. Now Available on Billboards

English mobile Internet consultant Terence Eden reported on his official Twitter page that in London a billboard was hacked. The hackers installed a program on the device and started mining cryptocurrency using a computer that ran a billboard.

Terence Eden photographed a huge advertising screen, which took almost the whole wall of the London shop. It is noteworthy that the Windows OS was installed on the computer that controlled the advertisement.

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On the photo you can see the desktop of the computer with a lot of icons. One of the open programs was the NiceHash program – a program-miner for old computers. It is also known that the purse where the cryptocurrency came was started with the symbols 3Jgi6. In his message Terence Eden suggests that thanks to this information his “smarter” subscribers will be able to find out to whom it belongs. In addition, it is not known whether the software for the mining was installed by the store employees themselves or someone else.

Gregory Maxwell criticized the idea of rescue forks

Breaking in the Italian BitGrail Exchange last week and stealing of $ 17,000,000 XRB sparked an active discussion between prominent representatives in society.

Blockstream co-founder and leading Bitcoin Core developer Gregory Maxwell criticized the founder of Ethereum Vitalik Buterin for supporting the so-called “rescue hardforks” for recovering stolen crypto during hacker attacks. This was preceded by a Twitter-dispute between the largest community of bitcoin-traders Whalepool and Buterin.

The lesson Ethereum’s operators are teaching is implicitly this:  When Vitalik’s funds are lost due to a contract executed to the letter with unwelcome results: Great choice. – Maxwell wrote on Reddit.

The founder of Ethereum also said that hardfork can be a good way out for blockchains at an early stage of development in emergency circumstances.

Some people believe that it is the possibility of a “rescue hardfork” that gives the Altcoins an advantage over Bitcoin. Maxwell strongly disagrees with this position.

When Vitalik’s funds are not lost, but an even larger dollar value is lost due to terrible foot-gun “address” design and Ethereum software misbehaviour: Bad choice.

The point they’re missing? No one should have that power. If there is even a choice to make the system has already failed. Paypal and Visa do reversibility better and didn’t require a pre-mine now worth billions of dollars.- stressed Maxwell.

Residents of Arizona will be able to pay taxes with Bitcoin, Ripple and Ethereum

Arizona can become the first US state, whose residents will soon be able to pay taxes using cryptocurrency. The corresponding bill was passed by the State Senate this week.

16 senators endorsed the bill, 13 legislators opposed it, but in the end, a three-vote margin was enough to pass the document. Now the bill will be forwarded to the Arizona House of Representatives for further consideration.

How can it change the life in Arizona?

The representative of the Republican Party Jeff Waninger noted that changes in the state’s tax law will make Arizona a comfortable place to live for users of new technologies. He also believes that in this way Arizona sends a signal to everyone in the US and the rest of the world that in the future the state will be open to blockchain and digital currencies.

At the same time, the representative of the Democratic Party, Steve Farley, warns that the bill shifts the “load of volatility” of bitcoin prices to taxpayers who will continue to use the US dollar.

“It would mean that the money goes to the state and then the state has to take responsibility of how to exchange it,” said Steve Farley.

Read also : BILL GATES IS GOING TO BUILD A SMART CITY IN ARIZONA

Korean Exchange Bithumb Welcomes New Users

The South Korean currency exchange Bithumb opened registration for new users after the introduction of theknowyourcustomer” (KYC) procedure.

At the end of December, the government of South Korea reported on a demand to prohibit the opening of anonymous unverified accounts for users of crypto exchanges. It resulted in the development of laws and regulations, according to which at present registration on the Korean stock exchanges everybody must pass through the KYC.

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The developers of the Bithumb reported that from February 9, users are able to verify their profiles via an open account in Nonghyup Bank. Moreover, the report says that the last revisions on the integration of the verification through Shinhan Bank will soon be completed.

The South Korean crypto exchange Bithumb was able to introduce the KYC system within ten days after the official ban of anonymous trading accounts in the whole country.

According to media reports, on January 30, 2018, new legislation was introduced in the country, created by the Financial Services Commission (FSC). It obliges crypto exchanges to introduce the KYC procedure for all the platform users. Thus, for the implementation of trading on the Bithumb, new users, as well as previously registered ones, must pass the KYC necessarily.

Nexus Earth Partners and SingularutyNET will Integrate Artificial Intelligence with Blockchain Technology

Nexus Earth Partners has announced a partnership with blockchain platform SingularityNET. They will conduct research on the joint use of artificial intelligence and blockchain technology. As reported on the company’s official website, this cooperation can lead to the creation of a blockchain AI as the most secure and flexible infrastructure.

The head of SingularityNET, David Hanson, stressed that this technology might become the most valuable in the history of mankind.

” It will become the single most valuable technology in all of history. This is the chance for us to change the world together,” Hanson said.

Sophia-Singularity-Nexus

Both companies seek to decentralize artificial intelligence and increase its safety, create technologies that will benefit society, rather than individual corporations and governments. Moreover, they set themselves the task of reducing the cost of artificial intelligence and making it accessible to more people.

The world’s most famous humanoid robot Sofia is based on artificial intelligence, loaded into the SingularityNET blockchain platform.

Canadian VersaBank is Building a Digital Storage for Cryptocurrency

The smallest in terms of assets the Bank of Canada VersaBank announced the creation of a digital vault for cryptocurrency. The new service will be launched in June.

“We’re using what banks are all about — safety and security — only what we’re doing now is saying that physical box in the basement is getting obsolete,” said David Taylor, chief executive officer.

Secure and Super Private Place

To work on the new service, the bank attracted the BlackBerry specialist Gurpreet Sahota. He will lead the team of developers of virtual storage VersaVault. The digital assets will be stored on servers around the world. As in the case of safe deposit boxes, the bank doesn’t know what is inside. In addition, the financial institution will not even have access to the contents of the storage.

“Our differentiator in this market is to be secure and super private,” said Taylor.

The large funds have already shown interest in the novelty. The cost of services in the bank has not yet been determined, but it will not be “cheap”.

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