Munich Security Conference: U.S. Govt. Nowhere Close to Regulating Bitcoin

Speaking at the Munich Security Conference, the White House cybersecurity coordinator has stated that the U.S. government is nowhere close to regulating Bitcoin. He particularly emphasised the need to better understand the cryptocurrency’s risks and benefits before embarking on any sort of regulatory regime.

Hundreds of world leaders and security chiefs are gathered at Munich’s luxury Hotel Bayerischer Hof this weekend in what’s been called the “Academy Awards for security policy wonks.” The Munich Security Conference comprises three days of debates, speeches, and sideline meetings regarding international defence policy, and is attended by top world leaders, as well as CEOs, human rights campaigners, and environmentalists.

Speaking with CNBC, Rob Joyce, special assistant to the President and White House cybersecurity coordinator, said there’s a long way to go before the U.S. government starts regulating Bitcoin and other cryptocurrencies. Joyce emphasized the need to better understand the cryptocurrency’s risks and benefits before moving forward with any sort of regulation: “I think we’re still absolutely studying and understanding what the good ideas and bad ideas in that space are,” he said when asked about the potential for government regulation. “So, I don’t think it’s close.”

Bitcoin is a decentralized and digital, and unlike fiat currencies such as the dollar it’s not backed by a central authority. And as transactions are anonymous, the coin has been accused of making it easier for those engaged in illicit activities to hide their money. But this ability that Bitcoin and other cryptocurrencies offer to avoid traditional restrictions on money and assets is part of what makes it so popular to those who use it. That decentralization is also much of the reason its price swings so wildly.

“We are worried. There are benefits to the Bitcoin concept — digital cash, digital currencies,” Joyce said. “But at the same time, if you look at the way Bitcoin works after there is a criminal act that takes place, you can’t rewind the clock and take back that currency.” Joyce described the inherent problem with this lack of a trail, noting that in the case of credit card theft, for instance, individuals or companies can contact their banks and purchases can be undone and the cash retrieved.

Business and policy leaders are divided over the future of cryptocurrencies and associated technology. The International Monetary Fund (IMF) has said it will have to be regulated, while South Korea’s threat of regulation in early 2018 sent waves across the crypto-world. France and Germany are said to be working on their own regulatory structure, as European Union lawmakers call for some sort of control over a currency that has the potential to be used for drug trafficking, money laundering, and terrorism. Further, governments are more uncertain still over what “regulation” would actually look like — from more subtle restrictions to an all-out ban.

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Ellen DeGeneres Just Introduced Bitcoin to Her 3 Million US Viewers

Ellen DeGeneres has likened Bitcoin to a “digital goat” in an attempt to explain the digital currency in layman’s terms live on air.

Ellen Viewers Learn Bitcoin, Wallets And Volatility

In a segment of her popular television show this week, which averages almost 3 million viewers per episode, DeGeneres spent several minutes speaking about the non-physical nature of Bitcoin and wallets, as well as touching on volatility.

“You’re probably thinking, ‘Ellen, if I can’t physically touch it, where can I keep my bitcoin? In a digital purse?’ which is a funny idea but it’s kind of true,” she explained.

As Bitcoin and other cryptocurrencies have entered mainstream consciousness over the past year, a lack of education among investors regarding even their most elementary principles has caused major headaches for businesses.

Exchanges in particular have seen technical difficulties and considerable staff shortages due to the need to address queries from new users who do not understand what is and is not possible with cryptocurrency holdings compared to fiat.

Brian Armstrong, CEO of largest US wallet provider Coinbase, produced a dedicated post this week on its HR practices after facing months of criticism over its inability to service customer queries in a timely manner.

Spotlight On The ‘Nocoiners’

Reactions to DeGeneres basic description of Bitcoin further highlight the distance still to go between the comparatively small segment of society using cryptocurrency and those who have yet to interact with it in any capacity.

I Got a Ledger Nano S for Christmas, Now What? 7 Steps to Set Up Your New Hardware Wallet

“I also found out Bitcoin works kind of like the stock market,” she continued.

Say you own one bitcoin and you bought it when it was worth $10,000 – and then for some reason Bitcoin becomes worth $20,000 – you just doubled your money… Basically if you invest in Bitcoin you’ll either be a millionaire or you’ll be totally broke.

Cryptocurrency forums reacted broadly positively to DeGeneres’ efforts despite their lack of nuance or practical advice on how to gain a better understanding of Bitcoin.

What do you think about Ellen’s description of Bitcoin? Let us know in the comments below!

Images courtesy of Shutterstock, Bitcoinist archives, Twitter

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VeChain (VEN) & Monero (XMR) Booming

VeChain (VEN)

VeChain (VEN) is a top performer on today’s cryptocurrency market. Perhaps this is because its rebranding is just ten days away? Set for February 26th, the rebranding is on the same day that LitePay is released. As the VeChain team ramps up for the big release, it seems investors are buying up VEN coins.

VeChain will be rebranded to VeChain Thor (yes, like the mythological God and Marvel superhero) and its coin ticker name will change to VET. All coins will be moved over in a 1:1 ratio from VEN to VET. VeChain Thor is to …

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The Guide for Starting a Crowdsale Contract for ICOs

Every other company, especially the ones dealing with cryptocurrencies and blockchain technology wants to host its own crowdsale and raise funds. This has led to an unprecedented rise in interest among people, who wish to know more about the whole token sale process. This article aims to provide a brief insight into some of the steps ought to be taken by those who are embarking on an ICO campaign.

Only a small portion of companies opting for an ICO tend to complete it with performance much better than earlier expectations. Some of the things to be considered include –

Getting Started

The most important part of any project is the team itself. With a team and a business plan in place, the next logical step is to have a solid business plan, followed by the project implementation. The most important and complex task of this stage is the creation of Crowdsale contract (The ICO Contract).

What is the Crowdsale Contract?

The crowdsale contract is a program for the development and distribution or sale of the project’s tokens. There are different ways for developing the contract, each having its own pros and cons and level of simplicity and reliability.

The Ways for Creating Crowdsale Contract

  1. Using the Internal Resources

Just like any other project, the project’s own resources are the primary or initial resources used by the project manager for creating the contract. In case of insufficient availability of in-house funds and expertise, this method is risky. This is because Ethereum network and Solidity programming language are significantly different from traditional program, requiring a higher investment. We have many examples where millions of US dollars were lost or frozen due to inappropriate resources used by the developer.

  1. Finding the Best Developer

In view of the above challenge, the recommended way to create the contract is to find the most suitable developers as per the nature of the project. This may seem as a simple task considering the growing popularity of blockchain and increasing number of people willing to invest in it. However, the following challenges usually arise during the process.

  • Lack of expert developers
  • High cost charged by the developers
  • Lack of Tools to evaluate developers’ skills
  • Need for testing and auditing by a third party

Considering these challenges, finding the best qualified specialists and audit firm, becomes a time-taking process.

  1. Go for an ICO Agency

ICO agencies offer a range of services, from website development to token listing on the exchanges. If you are willing to outsource the marketing and PR campaigns of the project to an ICO agency and also have necessary funds in hand, this is an ideal approach. On average, the cost usually ranges between USD 300,000 and USD 500,000.

  1. The Contract Constructor

Contract Constructor is a service having a library of tested and audited contracts, which enables the users to specify their token distribution parameters (number of tokens, price), bonus structure, sales dates and so on.

This approach brings the following benefits:

  • No need to search for qualified developers.
  • The platform’s templates are repeatedly tested by the specialists.
  • Zero probability of error.

Some widely used and most popular constructors are:

Token Wizard

It offers the ability to develop a token and crowdsale contracts. Due to the requirement of installing an additional software and having deep knowledge, it is not recommended for unprepared or new users.

Etherparty and BlockCAT

These are highly popular projects in the smart contract market, offering the ability to create a token and a crowdsale contract. However, both platforms are currently available in their BETA version.


MyWish is one of the most widely used open-source platforms that create contracts (over 300 users), using a simple interface that doesn’t even require the installation of any additional software. You can get a crowdsale contract at the cost of just 1 ETH per contract. Being a complete solution, it is used by many projects for raising funds. Watch here how it works.

In the next post, we will explain in detail the two most convenient and reliable methods of Crowdsale contract creation; Delegating the contract creation to ICO agency and Creating a Contact via MyWish.

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Qtum is Pushing to Become the Biggest Player in the Asian Market

The Qtum Foundation has announced a collaborative venture with fellow Singapore-based SpaceChain Foundation to enable the launch of a standardized CubeSat. This will most significantly enable Qtum wallet holders to employ Qtum’s blockchain technology on the UK-developed Raspberry Pi device.

Although this is a private venture, the fact that it is happening in Southeast Asia after the recent Chinese government clampdown on digital currencies has intrigued many observers. The exact politics are highly nuanced, however, as China, alongside most governments in the world, is pro-blockchain, just vehemently anti overly exuberant public enthusiasm for Bitcoin and other domestic cryptocurrencies.

Post-Launch Benefits to Be Expected

While China and Singapore are sworn friends in most matters, with the tiny nation an avid supporter of the Asian Giant in ASEAN, relations soured over certain issues circa 2016. Singapore is typically also pro-American and thinks nothing of stating conflicting points of view outright.

That said, China is very keen to establish itself as a technological Colossus and the new venture will “raise China’s authority in the blockchain,” according to the vice-president of the local arm of Australian 360 Finance, Liu Wei.

Although China and Singapore are closely aligned yet wholly distinct countries, the venture is clearly being seen by the Chinese as an inescapably Chinese achievement. This has vague legitimacy, as the population of Singapore is overwhelmingly Chinese-speaking with strong cultural affiliations with China.

The satellite launch hopes to at least partially address the fact that Bitcoin and other mining consumes around 0.21 percent of the world’s annual electricity supply. The two partners have packed the launched satellite with an array of new technology that the CubeSat will float in space.

Post-Launch Benefits to Be Expected

A CubeSat is a diminutive satellite typically launched for purposes of space exploration and other scientific endeavors. SpaceChain is indeed a space exploration initiative, but the latest launch will focus on storing data in outer space, eliminating many regulatory issues, especially within China.

In addition, Proof-of-Work (PoW) consumes huge amounts of power to enable accompanying mining activity. Flipping to a space satellite with a far lighter proof-of-stake protocol is a vast improvement from this point of view. But a first step for Qtum, the company plans to expand its satellite network substantially over the relatively short term. Energy savings and a far less costly hardware platform are the two principle benefits of the recent launch. Qtum wallet holders will now be able to mine on the smaller, lighter Raspberry Pi devices.

The secretary-general of the BTN Foundation, Zhang Yunfan, is also hoping that the research center will expedite blockchain commercialization and result in business-ready blockchain solutions within the very near future.

Yunfan commented on the launch, saying “The partnership with Qtum and 360 reflects a broader transformation… from Internet thinking to blockchain thinking, from the information era to one that is characterized by network value.” 360 Blockchain is a venture capital outfit with a focus on cryptocurrency startups.

A New Venture to Lighten the Load of Cryptocurrency Mining

A staggering 14,000 cryptocurrencies are now available in the world, although the top few names dominate public perception of digital coins. This figure excludes household names such as Bitcoin and Ethereum, hence the true total might be substantially higher.

Digital currency is costly to maintain according to Qtum, a reality that has embarrassed Bitcoin on occasion, and this has contributed to less than optimal commercial uptake.

With the new satellite launch, Qtum aims to eliminate certain fundamental barriers, or at least make cryptocurrency application far more widely appealing. If the venture enables a significant lowering of costs in dollar terms, it could lay the groundwork and ultimately enable mass industrial uptake of its blockchain.

Future apps and overall positioning will also be enhanced and, for now, it seems that Southeast Asia really is gripping to the cutting edge of blockchain technology as the CubeSat silently orbits the earth.

How will Qtum’s collaboration with SpaceChain impact mainstream adoption of blockchain and cryptocurrency? Let us know your thoughts in the comments below.

Images courtesy of Qtum, Shutterstock

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Ethereum Price Watch – ETH/USD Gains Slightly, Breaks $950

Ethereum Price Watch

Key Highlights:

Ethereum price rose slightly today, breaking above the $950 level
ETH is now holding a major support at $915
A major resistance of $938 must be tested for its next move up

Ethereum Sees Slight Gains

After breaking above yesterday’s $920 resistance level, ETH price went up slightly today. The coin did manage to break the $950 level briefly before pulling back to its current price near $930. ETH is currently holding down a major support at $915, while a resistance of $938 is something investors need to monitor for its next move up.

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SELFLLERY – Tokens for Likes

The future lies in digital technologies. And this future has already come! Remember how blockchain technology was something wild and rampant for many people? And now just imagine, the innovative social platform SELFLLERY is based on the same technology!

This is not an ordinary social resource with the possibility of acquiring visual content, but a platform that provides an opportunity for its users to earn money on unique photos and videos that will gather maximum user involvement in the form of likes, comments, and views.

The relevance and prospects of SELFLLERY’s scaling

Currently, the most famous social networks such as Instagram, Facebook, Snapchat and Twitter exclude the possibility of direct earnings for their users for the published photos and videos, not including advertising. Although content creation and promotion of these same leading networks are carried out by their own users, they only have to be content with the likes.

SELFLLERY takes the so-called conditional error in the relations between users and shareholders of companies into account and offers the world a completely different vector of applying the user content. Now everyone can convert likes and comments into cryptocurrency, or more precisely into YOU tokens, which can be converted into cash through Ethereum purse if necessary or used inside the platform.

The interest of humanity to digital photographs is rapidly increasing with every year, which affects the needs of social platforms, where you can publish collected photos and videos. Since SELFLLERY monetizes the activities of its users, it remains only a matter of time when the platform will become the world’s leader in demand. Of course, with the increase in its demand, the value of the YOU token will grow, which will have a great impact on those who decide to join the development and expansion of SELFLLERY at an early stage.

Monetizing of SELFLLERY content

The principle of working with the platform is very simple! For example, publish photos of your pet, funny videos from friends’ gatherings or conduct interesting live broadcasts and get the approval of other users in the form of likes, comments, and views. The more involvement there is, the more tokens you will get.

Also, the platform provides other activities for rewarding, namely: the sale of digital images to a photobank, participation in photo contests, photo quests, and advertising campaigns.

Additional SELFLLERY functions

All internal processes between users of the platform are based on YOU’s token, which provides access to paid functions, as well as the opportunity to donate for charity, purchase goods in the internal marketplace and photos in galleries.

Don’t miss out, TGE starts on the 5th of March and will last until the 26th of March!
Join SELFLLERY via the link:


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Ripple Signs Major Deal with Saudia Arabia’s Central Bank

Ripple, the third largest cryptocurrency by market cap, has been on a tear lately, and it has now signed a significant deal with Saudi Arabia’s central bank.

Ripple Rapidly Gaining Traction

Ripple continues to make inroads into the traditional financial sector. It has recently announced a massive deal with the UAE Exchange and a major partnership with Lianlian International. Additionally, Banco Santander is set to roll out Ripple payments in Q1, and just today came the news that Western Union will begin testing XRP transfers.

Ripple XRP

According to reports, Saudi Arabia’s central bank has penned a deal with the San Francisco-based cryptocurrency company, which aims to help banks in the oil-rich kingdom settle instantaneous cross-border payments using blockchain software. Specifically, Saudi Arabia will utilize xCurrent, Ripple’s enterprise software solution facilitating such payments with end-to-end tracking.

Saudi Arabia’s deal with the cryptocurrency company is the first such blockchain-utilizing pilot program launched by a central bank. Dilip Rao, Ripple’s global head of infrastructure innovation, says:

Central banks around the world are leaning into blockchain technology in recognition of how it can transform cross-border payments, resulting in lower barriers to trade and commerce for both corporates and consumers.

Saudi Arabia’s partnership with the virtual currency company comes after Gulf regulators have expressed concerns over Bitcoin and the cryptocurrency market’s lack of regulation. Thus, Ripple has, unsurprisingly, proven itself to be an attractive offer.

Ripple Shoots Up After AMEX Deal and Secret US Bank Meeting

Unlike Bitcoin and other cryptocurrencies that are largely founded on the premises of deregulation and decentralization, Ripple has openly marketed itself as a blockchain solution for traditional financial institutions. In turn, the cryptocurrency has long come under criticism for undermining what some consider to be the very foundations of cryptocurrency and blockchain technology.

Drawing further skepticism from investors is the fact that the vast majority of XRP tokens are owned by Ripple’s parent company, thus making it technically capable of regulating the price of said tokens.

XRP saw highs around $3.84 on January 4th but has since fallen as low as $0.59. It is currently trading at $1.12.

In December, UAE central bank governor Mubarak Rashed al-Mansouri also told Reuters that the central banks of both Saudi Arabia and the United Arab Emirates are working together in hopes of issuing a digital currency that would help facilitate cross-border transactions between the two countries.

What do you think of Ripple’s efforts to continually sign major deals with financial institutions? Do you think Ripple undermines cryptocurrency’s foundations? Let us know in the comments below!

Images courtesy of Shutterstock and Bitcoinist archives.

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Cryptocurrency Market Rise – Chinese New Year Ramp Up?

Chinese New year

The cryptocurrency market has hit a bit of a stride today. Yesterday it stood a bit stagnant, as Litecoin propelled above the rest. The total market cap for all cryptocurrencies has hit over the $460 range, which is the highest it has been in the last two weeks. There could be several reasons as to why the market has suddenly taken a bullish turn – let’s explore.


Just recently, Litecoin announced the launch of LitePay, the payment infrastructure for Litecoin. In the evening on the 12th, LitePay Inc. tweeted the official launch of LitePay finally …

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Zero Edge Raised Significant Funds in Pre-Sale

Zero Edge Raised 5 million USD from Private Investors

Zero Edge is set to fully revolutionize the online casino industry with its brand new cryptocurrency-based online gambling model. In its run-up to Pre-ICO and ICO, Zero Edge has already attracted widescale global investment, giving it the impetus it needs to push through with their plans to turn the online gambling industry inside out.

At the time of writing, the Zero Edge online gambling model, which includes a unique cryptocurrency-based money system known as Zerocoin, has raised in excess of 5 million USD from a broad cross-section of private investors. However, more is predicted to stream in on the heals of pre-sale demand and an ever-increasing global interest in the Zero Edge 0% house edge casino model.

zero edge

Zero Edge Revolutionary Model Explained offers 0% edge Casino games. World first 0% edge games attract demand for Zerocoin, because of this, its value rises. Players can play 0% games while Zerocoin price rises. Simply put, the ultimate solution to the problem is creating a platform where playing games is “free”. Players are not required to pay any fixed amount of money to be able to play at the casino. This can only be achieved by creating a closed loop economy with its own token where players purchase the token with fiat or crypto. Since the supply of ZERO is limited, its value is directly proportional to demand.

Blockchain & Smart contract technology allows to create a fully transparent and truly fair gambling environment where players have more opportunities to participate, can completely trust the platform, and have a real chance of winning while at the same time being a part of a bigger community which fosters social inclusion and mutual values.

Pre-ICO is Coming Soon!

Zero Edge is introducing its own unique cryptocurrency known as Zerocoin, the only way that gamblers will be able to participate in true 0% house edge online casino games through the Zero Edge online casino network. The value of Zerocoin is set to rise rapidly, as more and more people flock to Zero Edge to enjoy true 0% house edge games.

This is also the perfect opportunity to learn about the pre-ICO or Initial Coin Offering which is set to start on the 28th of February 2018, closing out on the 15th of March 2018. During the Zerocoin pre-ICO, Zero Edge is presenting a no soft cap, while the hard cap is initially set at 1000 ETH. Visit Zero Edge

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