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PR: Bitboost Releases Beta Version of the Block and Prepares Token Generating Event

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IMG 0460 696x395 PR: Bitboost Releases Beta Version of the Block and Prepares Token Generating Event

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

BitBoost, based in Zug, Switzerland, is a blockchain company with a clear purpose in mind: to redefine e-commerce. To that end, they are focused on delivering the next generation of blockchain-based e-commerce solutions. After more than two years of work, the BitBoost team is proud to announce the release of their first app, The Block. Furthermore, the company is also preparing the token generating event of BBT, the BitBoost token, to be used in the app.

The Block is a marketplace built over the Ethereum blockchain, where people can freely trade using smart contracts. At this moment, a beta version is available for private testing, released to a few dozen selected users. Anyone can register for the public beta release, happening at the end of September. Feedback is encouraged to help BitBoost improve their software before final deployment on the Ethereum blockchain later this year.

For this purpose, BitBoost is inviting everybody to register as beta testers. The Block is available for macOS, Windows, and Linux, and will be downloaded at BitBoost´s website. Users will also find a Beta Guide at BitBoost´s YouTube channel, where they will learn how to install, run the app on their computers, and use main features. Testers will have access to the following features: login and logout, item listing and purchasing with ether and BitBoost tokens (BBT), searching, interface customization, bookmarking, escrowing, user rating, and messaging. The app is fully encrypted, and will be available in 20 languages.

BitBoost´s goal is to build, with the help of beta testers, a fully functioning marketplace, such as those already on the Internet, but with a completely different philosophy. Nobody, not even BitBoost, will be able to censor or forbid anyone from listing an item (although the listing feature will provide a security layer to avoid the traffic of illegal goods). Instead of using a centralized approach, BitBoost wants to facilitate e-commerce by making decentralized e-commerce a worldwide activity, with no intermediaries or big players controlling the whole ecosystem.

BitBoost is also planning a token sale for The Block. The pre-sale will start on September 18th, and main sale on October 10th. BitBoost’s approach to the token sale is very clear. As stated by the CEO, Paul Mahone: “we did not want to ask people to buy a token, and after that to wait up to two years to develop a suitable software. We wanted to first develop The Block, and we have been coding since 2015 for this purpose. Once finished and tested, we will generate the tokens needed and sell them to potential users. They will have to wait years before they have the chance to use them. We expect to deploy The Block on the Ethereum live blockchain in 2018, so hopefully tokens issued will be ready to use within a few months. This is a great difference compared to other token sales, and we are proud of being able to offer a working product for our token generating event. We do think that this makes a real difference”.

For further info, BitBoost is releasing weekly updates to its blog and social networks. Those subscribing to the mailing list will receive all related info about The Block and the upcoming token sale.

About BitBoost: BitBoost is a startup focused on the development of new blockchain apps for e-commerce. Incorporated in Zug, its dev team has been working in blockchain since 2014, when they first developed NXT FreeMarket, a marketplace on the NXT blockchain. Since 2015 they have been building this marketplace on the Ethereum network, a more suitable protocol due to smart contracts.

Media contact:
Álvaro Rodríguez, Director of Marketing
email: [email protected]


This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.



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Coincheck Becomes the First Licensed Japanese Bitcoin Exchange

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chstragdfff 1068x1068 Coincheck Becomes the First Licensed Japanese Bitcoin Exchange



Emerging Markets

Just recently the Japanese exchange Coincheck announced they have become the first licensed exchange in Japan after being approved by the country’s Finance Bureau Director.

Also read: After the Boss Calls Bitcoin a ‘Fraud’ — JP Morgan Buys the Dip

Japan’s Financial Services Agency Approves Coincheck as the Country’s First Licensed Cryptocurrency Trading Platform

CoincheckLogo 300x75 Coincheck Becomes the First Licensed Japanese Bitcoin ExchangeOn September 13 the Japanese bitcoin trading platform and payment processor, Coincheck, announced the firm had been approved to be a licensed “virtual currency exchange.” The exchange registration approval follows the provisions of Article 63-3 of the country’s fund settlement law. After bitcoin was legalized as a form of payment on April 1, 2017, all domestic exchanges in Japan must receive authorization from the treasury department and Financial Services Agency (FSA) to operate a virtual currency exchange business.

At the time Coincheck was extremely pleased to see the Japanese statutes pass and said the “newly made law and regulations on bitcoin are going be enormous.” Further, the exchange revealed at the time that all exchange providers must be approved by the FSA.

“In order to make the exchanges more secure, cryptocurrency has been handed over to the authority of the FSA,” explains the Coincheck blog this past June.

All the exchange providers and other companies that deal with virtual currency will need to be registered by the FSA before they can start operation. It will help to make cryptocurrency exchanges in Japan tighter, more secure, have scrupulous control.

Coincheck Expands as Japanese Bitcoin Enthusiasm Continues to Grow

payment step03 300x250 Coincheck Becomes the First Licensed Japanese Bitcoin ExchangeJapan has often captured the number one spot in global bitcoin trade volume. Coincheck handles a lot of bitcoin trade volume as the trading platform swapped 97,502 BTC over the past 24-hours. Further back in May the firm announced the creation of interest-bearing bitcoin savings accounts, if the FSA would allow the concept. This past August Coincheck launched a new investment sandbox that tends to crypto-startups and organizations running initial coin offerings (ICO).  

The Japanese trading platform’s new licensure approval follows the demise of the country’s infamous bitcoin exchange Mt Gox and reveals that officials are more comfortable with exchange operations. Moreover, the positive news comes at a time when Chinese bitcoin trading platforms have been forced to close most of its operations.

What do you think about Coincheck getting approved as a licensed bitcoin exchange in Japan? Let us know in the comments below.


Images via Shutterstock, and Coincheck. 


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Chinese Investors to Trade Bitcoin Over-The-Counter Via Telegram

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Chinese Investors to Trade Bitcoin Over The Counter Via Telegram 1068x795 Chinese Investors to Trade Bitcoin Over The Counter Via Telegram



Featured

As Chinese-based bitcoin exchanges plan to shut down, bitcoin investors are taking their trading elsewhere. They will now focus on broker-facilitated, over-the-counter exchanges. 

Also read: Nebraska Ethics Board Allows Attorneys to Accept Bitcoin

Prior to exchange shutdown notices, most traders conducted OTC exchanges on Weechat messenger. As a result of government crackdowns on Weechat users, bitcoiners have made an exodus over to privacy-centric messaging app Telegram. A Quartz article detailed the situation:

The favored app for arranging OTC trades was WeChat, the ubiquitous platform run by Chinese tech giant Tencent. Now brokers are moving to chat platforms operated by non-Chinese companies to keep the trades going, in response to new rules tightening controls on chat groups

A surge of traders have now moved to Telegram for its encryption protocols. They should now be able to disregard government as they continue to trade and speculate on various cryptocurrencies.

Exchange Crackdown Will not Harm Bitcoin

It appears this investor pivot to secret OTC trading, foreshadows how underground bitcoinshutterstock 702431539 150x150 Chinese Investors to Trade Bitcoin Over The Counter Via Telegram trading may manifest in China. Investors and brokers will conduct trades silently, under the cover of Telegram’s encrypted darkness. In this sense, it is unlikely bitcoin or cryptocurrency will be harmed in the long term. The resiliency of the technology will emerge while under duress from the Chinese government.

Eric Zhao, the computer engineer who runs the CNLedger Twitter account echoed this sentiment, saying: “Exchanges are not what give value to blockchain assets like bitcoin. It is the intrinsic technology and numerous applications who play decisive roles.”

OTC Trading Necessary Because Chinese Authority May Block Access to Exchanges

Even though Bitcoin will survive regardless of what happens — there are a myriad of unverified reports coming out of China that authorities may block certain bitcoin sites. One document states the Network Bureau would stifle trading.

document 768x1024 Chinese Investors to Trade Bitcoin Over The Counter Via TelegramLoosely translated, the document states the Bureau would block access to Main BTC exchanges from abroad, including limiting API access. It would also block seed node addressing.

The Chinese government would also take action. It will analyze all DNS and IP addresses, and hand in lists to the IT Bureau. The document further stated:

Meanwhile, to prevent the domestic block nodes to sync with nodes abroad, government will monitor the communication between the domestic block node with the pool(appendix 4). In case of emergency, cut down the network of the pool. Monitor highly on the BTC network’s communication via bridge connection, TOR and VPN etc. Inform the most frequent request.

It is good to keep in mind that these reports are unverified, and they could, in part, be “fake news.” Nonetheless, it is clear the Chinese government is clamping down on cryptocurrencies, but traders appear to be unfazed as they maneuver to access underground and OTC trading networks.

What do you think about JP Morgan Securities Ltd. purchasing bitcoin-based exchange-traded-notes? Let us know in the comments below. 


Images via Shutterstock


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After the Boss Calls Bitcoin a ‘Fraud’ — JP Morgan Buys the Dip

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After the Boss Calls Bitcoin a Fraud — JP Morgan Buys the Dip 1068x1068 After the Boss Calls Bitcoin a Fraud — JP Morgan Buys the Dip



News

Just recently news.Bitcoin.com reported on JP Morgan executive Jamie Dimon calling bitcoin a “fraud” and claiming he would fire any employee from his firm who traded the digital currency for being “stupid.” Now it seems JP Morgan has been caught red-handed purchasing a bunch of XBT shares, otherwise known as exchange-traded-notes, that track the price of Bitcoin.

Also read: Bitcoin Proponents Respond to JP Morgan Executive’s Statements

After a Few Harsh Statements from Executive Jamie Dimon, JP Morgan Ltd., and Morgan Stanley Purchase Bitcoin ETNs

According to public records of Nordnet trading logs, the two associated firms JP Morgan Securities Ltd., and Morgan Stanley bought roughly 3M euro worth of XBT note shares. Interestingly after the recent regulatory crackdown in China, and the statements from JP Morgan’s senior executive Jamie Dimon talking trash about bitcoin, his firm bought the dip on September 15. In fact, out of all the companies on the list, like Goldman Sachs and Barclays, the JP Morgan team of buyers purchased the most XBT notes.

%name After the Boss Calls Bitcoin a Fraud — JP Morgan Buys the Dip
Image via @IamNomad on Twitter.

Bitcoin exchange-traded-notes (ETNs) are a popular investment vehicle for mainstream investors and financial management firms who want exposure to bitcoin. A few institutions offer ETNs, among them Denmark-based Saxo Bank, which sells notes called the “Bitcoin Tracker.” These bitcoin-based ETNs track bitcoin price movements against the Euro and USD. Bitcoin ETNs have done extremely well over the course of 2017 following suit with bitcoin’s meteoric price spike.

JP Morgan Applies for Blockchain Patent 175 Times

JP Morgan doesn’t just purchase bitcoin notes, but is also heavily involved with the ‘blockchain fever’ that has infected banks across the world. The financial firm has applied for a “bitcoin alternative” patent with the U.S. over 175 times in 2013. The company is also working on an ethereum-based blockchain alongside, according to people familiar with the matter, working with Zcash development as well. With the ethereum project called “Quorum,” JP Morgan has its own Github repo that explains how the permissioned blockchain does not need consensus mechanisms like Proof-of-Work (POW) or Proof-of-Stake (POS).

original 94694686 After the Boss Calls Bitcoin a Fraud — JP Morgan Buys the Dip
The financial publication Zerohedge reports that JP Morgan applied for a “Bitcoin Alternative” patent in 2013 and was rejected 175 times.

Former JP Morgan Executives Leave the Firm for Bitcoin and Blockchain Projects

600x 1 228x300 After the Boss Calls Bitcoin a Fraud — JP Morgan Buys the Dip
Former JP Morgan derivatives executive, Blythe Masters, is all about the Blockchain hype.

Additionally, former JP Morgan executives are all about blockchain technologies these days and even bitcoin. The veteran commodities trader, Daniel Masters, joined JP Morgan right after graduating college and in 2014 announced he was starting a bitcoin-based hedge fund. Another former JP Morgan mogul, Blythe Masters, started her own blockchain startup Hyperledger which is now run by the Linux Foundation. Masters is still heavily involved with the blockchain project and has a seat on the governance board.

Whether Jamie Dimon wants to admit it or not his firm was trading bitcoin-based notes after his statements. Further, over the past few years, JP Morgan cannot hide the fact that they are infatuated with blockchain technology, just like the hundreds of other financial institutions hoping they won’t be replaced.

What do you think about JP Morgan Securities Ltd. purchasing bitcoin-based exchange-traded-notes? Let us know in the comments below. 


Images via Pixabay, Bloomberg Markets, IamNomad, and Zerohedge. 


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Bitstamp to Introduce Bitcoin Cash Trading by End of the Month

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Untitled design 47 1068x1068 Bitstamp to Introduce Bitcoin Cash Trading by End of the Month



Altcoins

Bitstamp has issued a statement confirming that it plans to implement Bitcoin Cash (BCH) trading pairs before the end of September. Bitstamp has cited “high levels of customer demand for Bitcoin Cash” as the principal catalyst for the announcement.

Also Read: Lead Developer Amaury SéChet Discusses the Future of Bitcoin Cash

Bitstamp Has Announced That It Will Introduce Bitcoin Cash Trading Pairs by the End of September

bitstampnewlogo 300x91 Bitstamp to Introduce Bitcoin Cash Trading by End of the Month

Bitstamp has announced that it will introduce Bitcoin Cash trading before the end of this month. The exchange plans on introducing trading pairs of BCH/BTC, BTC/USD, and BCH/EUR. Bitstamp has stated, “now that the stability of the newly created fork has been confirmed, we have also decided to add support for BCH trading”.

At the time of bitcoin’s soft fork, Bitstamp stated that customers “who wanted their BCH funds immediately” should “withdraw their BTC before the hard fork occurred.” After the user-activated hard fork occurred, Bitstamp clarified that it intended to distribute BCH tokens to customers holding bitcoin at the time of the fork, stating that “BCH balances will be made available to our customers as soon as it is safe to do so [-] if and when the Bitcoin Cash system has been thoroughly tested and is sufficiently stable, we will then consider listing BCH”. The exchange has now confirmed that “all customers who had bitcoin balances at the time of the fork now have an equal quantity of BCH safely stored at Bitstamp.”

Bitcoin Cash Will Be the Fourth Cryptocurrency Other Than Bitcoin to Be Listed on Bitstamp

shutterstock 683817310 1 300x200 Bitstamp to Introduce Bitcoin Cash Trading by End of the Month

This year Bitstamp, previously a bitcoin-only cryptocurrency exchange, has sought to capitalize on the growth of major altcoins by introducing new trading pairs. Last month, the exchange announced that it had introduced trading pairs for Ethereum, launching zero fee trading services for ETH markets until the 1st of October. In June, Bitstamp implemented the roll-out of several Litecoin trading pairs, following Litecoin’s activation of segregated witness. In January, Bitstamp also introduced Ripple trading pairs.

The Bitcoin Cash markets appear to have regained correlation with the price action of bitcoin, with yesterday’s 25-30% bitcoin bounce serving as the catalyst for a near 50% spike in the value of BCH – driving the price of BCH tokens from a low of approximately $300 USD to the current area of $450 approximately.

Do you think that Bitstamp will continue to introduce new markets to its platform? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, and Bitstamp


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