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  • Indian Government Provides Cyber Safety Lessons to Teens to Prevent Dark Web Activity

    Delhi police in partnership with local Indian educational institutions and schools have begun to provide cyber safety lessons to teenagers across the country. According to Dependra Pathak, a spokesperson and special commissioner for Delhi Police, the law enforcement agency will teach safe online habits to ensure teenagers don’t get involved in illicit cyber activities and fall victim to illegal operations.

    As a start, Delhi Police invited all of the schools in the country to its cyber security workshops and seminars to encourage teachers to plan and establish appropriate cyber security lessons for their students. So far, the cyber security program designed by the cyber cell of Economic Offences Wing was attended by 423 computer teachers from 302 schools in the country.

    At the workshops, Delhi Police prepared various short films, presentations, videos, quizzes and FAQs which teachers can then provide to their students. By offering an interactive program, Delhi Police aimed to encourage teenagers to obtain a better understanding of cyber security, safe online habits and illicit activities on the internet and dark web that are prohibited by law enforcement.

    “The idea of holding a programme involving teachers was started to ensure that children know

    Read more ... source: TheBitcoinNews

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  • Bitcoin Lending Service BTCJam is Shutting Down For Good

    It is always sad to see bitcoin-related services shut down over time. Although BTCJam did not have the best of reputations, they introduced a new use case for cryptocurrency. Bitcoin lending is an interesting market, albeit there are a lot of risks associated with it. BTCJam will effectively shut down very soon. Customers have until July 1st, 2018 to withdraw any remaining funds.

    Curtain Call for BTCJam Not Entirely Unexpected

    Ever since BTCJam launched a few years ago, the goal was relatively simple. This company aimed to provide people all over the world with access to fair credit. To make that happen, the team banked big on the success of Bitcoin. Since Bitcoin is the only global currency in existence today, it seemed like a bright idea at the time.

    It has to be said, the company had no shortage of business either. Over 20,000 loans have been extended to 122 countries. In total, over 64,000 BTC has been loaned through BTCJam, which is quite impressive. However, not all of the loans are paid back. Over the years, the company got a bit of a negative reputation because of this. Then again, that is to be somewhat expected.

    The decision

    Read more ... source: NewsBTC USA

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  • Coinbase CEO Claims The Company Saw 40,000 User Registrations in one day

    Although the COinbase exchange is going through issues, it is for a positive reason. A lot of cryptocurrency trading platforms are seeing unexpected growth lately. Poloniex blamed their string of convenient DDoS attacks on user growth. Coinbase CEO Brian Armstrong now claims the company had 40,000 new user registrations in one day. An interesting statement, although it is always difficult to verify such claims.

    Coinbase User Growth is a Positive Trend

    Given the recent Bitcoin price spike, increased interest in cryptocurrency is the logical outcome. A lot of consumers are looking to buy Bitcoin as of right now. Prominent companies in the cryptocurrency world will see large growth as a result. For Coinbase, that growth is slowly materializing. A recent tweet by Brian Armstrong claims how 40,000 users signed up for the service in just one day.

    .@coinbase had 40,000 new users sign up in *one day*, or approximately one San Francisco Giant’s Stadium. pic.twitter.com/tqvpqVguVQ

    — Brian Armstrong (@brian_armstrong) May 26, 2017

    That is quite a bold claim, albeit one that can be somewhat justified. Coinbase has grown exponentially over the past few years. Now that the company enabled Ethereum as well, more growth will occur over

    Read more ... source: NewsBTC USA

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  • Bitcoin Experiences an Intense Flow of New Money and Mainstream Attention

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    Over the past month, mainstream media has given Bitcoin the spotlight due to the digital currency’s recent jumps in value. Multiple news reports featured in prominent publications and on television are saying mainstream investors are flocking to cryptocurrencies in great number.

    Also read: Are Asian Markets Creating a Bitcoin Price Bubble?

    ‘The Laughter is Fading’

    Mainstream media is giving Bitcoin a lot of attention because the digital asset’s market value has gained significant value in a short period of time. To put the jump in value into perspective, bitcoin’s price has risen by 87% in just thirty days. Now many broadcasts and publications are reporting on bitcoin nearly every day giving the technology quite a bit of exposure.

    Bitcoin Experiences an Intense Flow<p>        <iframe scrolling=

    Read more ... source: TheBitcoinNews

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  • Analysis: Bitcoin, Ripple, Litecoin, Ethereum, ETC, Dash & Monero

    Bitcoin

    Bitcoin spiked down towards the first main support zone near $1875, and it’s currently trading above the $2000 level again. I expect more downside, but trading these bounces with small positions could be lucrative. The $2230 level could cap the current bounce.

    Ethereum

    ETH’s overnight minimum was around 110, a 40% top to bottom correction. The 100 level and the prior base between 77 and 85 are the obvious levels to watch. The advancing long-term trendline is currently found near 90, providing further strong support.

    Ripple

    XRP spiked as low as 0.12 touching the long-term trendline and getting close to its previous line-in-the-sand level near 0.11. As Ripple was already in a deep correction, this might have marked the end of the move (-75% from the top!!) but the prior base near 0.07 is not out of the question.

    Litecoin

    Read more ... source: TheBitcoinNews

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  • Don’t Panic. Analysis of Zcash, Stellar Lumens, Litecoin and Dash

    We have been suggesting here and on twitter like a broken record that the ETH and XBT trades were hyper-extended and overdue to correct.  It looks like big money and/or hostile forces have taken advantage of the two corrections to force out weak hands from many altcoins.  These are the days when if you are not leveraged, you ought to play golf or take the kids to the park.  The current selling will end, so if you are not leveraged, and if you failed to sell the highs, it might be a good idea to just relax and take a break.  Markets will almost certainly rise again in a few days, like the phoenix.  No need to panic.

    Zcash

    ZEC is looking like a great trade.  Both short term and longer term charts have a bullish feel to them.

    This 60 minute chart (bear setup) showed support was found at the 5th pair and the top of square, as shown above.

    This bull setup on a 144 minute chart

    Read more ... source: TheBitcoinNews

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  • Bitcoin Reasserts Itself Taking Back Over 50% Crypto Market Share

    After dropping to a low of 46 percent, Bitcoin dominance (Bitcoin’s market capitalization as a percentage of total cryptocurrency market capitalization) is back over 50 percent. In a bear market, Bitcoin is reasserting itself vis-a-vis altcoins.

    Altcoin frenzy

    The frenzied demand for altcoins over the past few months has resulted in almost all coins witnessing a multifold increase in price. It didn’t matter which altcoin you picked in March, almost all of them have gone through the roof.

    While Bitcoin price has steadily increased, its dominance has steadily decreased as altcoins (Ethereum, Ripple, Dash amongst others) outperformed it. Bitcoin’s dominance went below the psychologically important level of 50 percent on May 16, in spite of Bitcoin scaling agreement negotiations.

    Ripple loses steam

    One of the real challengers to Bitcoin’s dominance has been Ripple. At its peak, Ripple had a market capitalization of $17 bln and accounted for about 25 percent of the total crypto market cap. However, over the last one week, its price has fallen sharply and it has lost approximately 60 percent of its value in BTC terms.

    The steady challenger to Bitcoin remains Ethereum, which now accounts for 20 percent of the total crypto market capitalization. The contribution of Ethereum to the total crypto market capitalization has remained between 15 to 20 percent over the last two months.

    Other coins like Litecoin, Monero, Dash and NEM have risen substantially but have not mounted a serious challenge to Bitcoin.

    Total Market Cap

    Demand for Tether

    In a bear market like the current one, the demand for tether has increased substantially. Although the value of one tether is supposed to be pegged to $1, traders at crypto exchanges are paying up to $1.08 for one tether. Those buying tether are locking in profits by moving out of cryptocurrencies and would look to reenter the market at an appropriate time. The premium payable for tether is expected to go down, once stability returns to the crypto markets.

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  • In Wake Of Global Cyberattacks, Calls For Bitlicensing Grow

    Netanella Treistman of Israeli law firm Yigal Arnon & Co. examines the growing pressure on global governments to issue Bitcoin licenses to manage the cryptocurrency-related concerns.

    Earlier this month, hackers executed a global cyber attack, reportedly attacking over 150 countries, including public and health care systems and individual computers. The attackers demanded payment in Bitcoin to unlock computers and return the data.

    Bitcoin is a non-conventional, decentralized cryptocurrency, based on open-source software, invented by Satoshi Nakamotoin 2009. All Bitcoin transactions are stored in the Blockchain, a distributed ledger and record-keeping system. Mid May 2017 the market capitalization for Bitcoin was around $28 bln.

    Regulation

    Payment with Bitcoin is assumed to be a transparent and neutral payment method, with lower transaction fees, which is available everywhere (where the Internet is available) without the need to disclose a party's identity.

    On the other hand, some of Blockchain's advantages can also be considered challenges, particularly issues relating to digital identity, privacy and cyber-security. Additionally, Bitcoin's market value is very unstable, which can result in substantial financial risks. This raises the question whether the use of Bitcoin should be regulated and if so, to what extent?

    Some governments require a license for digital currency activities while others are contemplating it, in order to manage the cryptocurrency-related concerns, stated above.

    Bitlicense hassle

    In New York, for example, where virtual currencies are considered a commodity, individuals can open an online Bitcoin account. However, New York State requires businesses engaged in virtual currency activities that have a place of business or provide services to persons located in New York, to obtain a license for digital currency activities (Bitlicense).

    The Bitlicense was introduced in 2015 by the New York State Department of Financial Services (NYDFS), and by some it is regarded as controversial. Applying for a Bitlicense is reported to be expensive (including a $5,000 non-refundable application fee) and compiling the application includes extensive paperwork, which may require legal and other outside services as well as many hours of work (which reportedly may result in a total expense between $50,000 to $100,000), making it challenging for smaller companies and startups to apply for the license.

    The Bitlicense includes several obligations including hiring a compliance officer, consumer protection, anti-money laundering (AML), cyber security, business continuity, disaster recovery and capital requirements.

    Fallout

    Following the introduction of the Bitlicense requirements, certain virtual currency businesses, such as Genesis Mining, Kraken, ShapeShift and Bitfinex, did not apply for the Bitlicense but rather left New York and took their business elsewhere in order to avoid the obligation to apply for the Bitlicense.

    The NYDFS reported having received 22 Bitlicense applications following the filing deadline (August 2015). Shortly following the first applications, Circle Internet Financial Limited (Circle), a mobile payment app using Bitcoin (through Blockchain), was granted the first Bitlicense in New York, followed by Ripple and Coinbase (in 2016 and early 2017 respectively).

    In 2016, Circle, received an electronic money license from the Financial Conduct Authority (FCA) in the UK, a license for e-money providers (not digital currency specific). Circle's partnership with Barclay's enabled Circle to provide cross-currency transactions (between GBP and USD).

    The FCA is considering if the current regulation can be applied to Blockchain or if Blockchain specific regulation is required.

    Other states are expected to follow and issue similar requirements.

    In 2016 the Bank of England published a working paper revising the consequences of the issuance of a central bank digital currency, implemented via distributed ledgers (such as Blockchain), that competes with bank deposits as a medium of exchange. The paper concluded that under certain circumstances such digital currency could improve the central bank’s ability to stabilize the business cycle and raise the GDP.

    Frameworks

    In the EU, virtual currencies (considered units of account) do not (yet) require a license, however, will be subject to the EU Anti-Money Laundering Directive, following its recent revision resulting in customer due diligence which will need to be applied to virtual currency exchange platform.

    A new regulatory framework proposed in Singapore, may require digital currency exchanges to obtain a license from the Monetary Authority of Singapore (MAS) in the future.

    On the other hand, the MAS recently announced that it has completed a proof-of-concept (POC) in partnership with R3, a distributed ledger technology company (similar to Blockchain), in collaboration with various banks, intended to establish a digital representation of the Singapore dollar for various purposes, including cross-border payments.

    Israel

    As per a recent revision to Israeli legislation, virtual currencies will be included in the definition 'financial asset' and provision of service relating to a financial asset will require a license in the near future.

    Therefore, it appears that regulators will need to find the balance between facilitating the development of innovation and alternative payment methods, while ensuring the economy's and consumers' protection, possibly by way of issuing licenses to companies providing or facilitating (financial) services by using Bitcoin.

    Assuming the POC conducted in Singapore will indeed prove to be successful and considering the working paper published by the Bank of England, the Israeli regulator may consider implementing new technologies, such as distributed ledger technology.

    Facilitating transactions with digital currencies, it, among other things, will lower transaction fees and expedite international transactions, while ensuring the consumer's cyber security and privacy by implementing sufficient Know Your Customer and AML regulation, tailored to manage distributed ledger related concerns.

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  • Ethereum On-demand Data Courier Oraclize Surpasses 100,000 Mainnet Transactions



    People familiar with the Ethereum ecosystem may have heard of a project called Oraclize. This particular project is used as a data carrier for decentralized applications on the Ethereum blockchain. Earlier today, the company reached over 100,000 mainnet transactions. An important milestone for an oracle service running for nearly two years now.

    Oraclize is Hitting Major Goals

    It is good to see services such as Oraclize finally gain some of the recognition it deserves. The world’s leading oracle service has been around for nearly two full years now. It provides on-demand data carrier services for all decentralized applications on the Ethereum blockchain. Since smart contracts can’t gather data on their own, Oraclize can be of great value. Moreover, the entire service is enforced by cryptographic proofs, creating a trustless system.

    Quite a few applications make use of the Oraclize ecosystem so far. Stackexchange, vDice, proof of Identity and the Youtube Contract are just a few examples. All of the contracts making use of this trustless data carrier service have generated over 100,000 mainnet transactions. That is a major milestone for an oracle service. It also highlights

    Read more ... source: LiveBitcoinNews

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  • Bitcoin demand in India is shooting upwards 500 USD above of the Western exchanges

    As in South Korea or Japan, the Bitcoin course in India has also risen enormously and is well 500 USD above that of the Western exchanges. In the meantime, the Bitcoin exchanges are overwhelmed by the demand and initiate initial steps.

    As a trigger for the bitcoin hype in India, the government’s debated discourse with the population is seen as digital currencies. As we have already reported, on the mygov.in page everyone can give their opinion on cryptry. This exchange is intended to help the government to adopt the right regulatory measures for cryptanalysis.

    This measure has helped Bitcoin increase the popularity of the mainstream, so many new customers are currently streaming to the Bitcoin exchanges. The Exchange Zebpay can record more than 500,000 downloads of its mobile app daily as well as 2,500 new users per day.

    Due to capital controls and strict regulation, the Indian population can not carry out arbitrage trades and is therefore tied to the prices of domestic exchanges. This was at times before the current correction came to over 4000 dollars.

    The Zebpay market has already prompted its users by tweet to avoid taking too high a risk as the volatility is currently enormous and only sums should be invested which does not depend on the existence.

    The appeal, however, has shown no effect, so the stock market Bitcoin has limited to 780 US dollars a day. Also the Indian stock exchange Coinsecure stated to be overloaded and to work with their systems at the limit. At times the site could not be reached any more.

    The Bitcoin News

    Previous articleConsensus 2017 Recap: The Biggest Main Stage Moments

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