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In 2020, 27% of US Tumblr users had an annual household income of over $100,000.
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New Post has been published on http://cryptocoin4us.com/cryptocoin/xrp-ripple-scam-banks-fight-crypto/
Could XRP (Ripple) Be a Scam | The Banks Fight Crypto
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New Post has been published on http://cryptocoin4us.com/bitcoin-news/browser-mining-google-chrome/
Browser mining with Bitdigger on google chrome
cryptocoin4us crew recommend mining with bitdigger on google chrome it is easy and dont slow your computer much
Download Bitdigger and make a wallet (free)
http://cryptocoin4us.com/money/moneymaking.html
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1. Affiliate Program You can now refer your friends and anyone on the internet to BitDigger, and earn 20% of the the Bitcoin they mine for life! Copy your link from the plugin, and share across Facebook, YouTube, Forums, and more! 2. Bitcoin Booster We have also added a booster option, which will allow you to mine your Bitcoin faster. Please be aware that turning this option on will use extra CPU power, and you can always switch back to normal mode if the added noise is too bothersome. 3. Recovery Seed In addition, we have added a backup feature, so if you ever have a problem with your computer, you can restore your account on a new device. Just write down your backup code and keep it in a safe place. 4. UI Changes Lastly, we have updated the UI to fit these additional changes, as well as giving you more information on your mining progress! ---------------------------------------------------------------- Want to join the Bitcoin revolution but don't want the difficulty and expenses of buying it or mining yourself? BitDigger is the first app in the world that allows you to mine Bitcoin from your chrome browser. It simply doesn't get easier than this. As long as your chrome browser is open, you will be mining and compiling Bitcoins to your account. Once you reach 0.001 bitcoins, simply enter your wallet address and click "Withdraw". You will then have complete access to your bitcoin and can save it, invest it, or even sell it (though probably not recommended!). We hope you enjoy using BitDigger, and please let us know any other features you would like to see added to the app. Also feel free to leave us a review! ---------------------------------------------------------------- About The Process: Everyone wants to mine cryptocurrency, but when most people mine Bitcoin, it isn't too profitable for them. Therefore we came up with a solution to mine other more profitable currencies, and then transfer you the amount in Bitcoin when you withdraw your funds. That way, you can make the most profit while mining, while also receiving the most popular and valuable currency in the world. ---------------------------------------------------------------- *Frequently Asked Questions* Q: How do I use the plugin? A: Simply download the plugin and you will begin mining automatically. As long as Google Chrome is open, you will be mining. Q: How long does it take before I can withdraw? A: It depends on how often you keep Chrome open on a daily basis, but the minimum withdrawal is 0.001 BTC, which usually only takes a few months to achieve. Q: How can I speed up the mining process? A: To mine Bitcoin faster, you can turn on boost mode, which will significantly speed up your hashing power. You can also share your affiliate link and refer others to use BitDigger, and receive 20% of their mining power for life. Q: I downloaded the plugin but my miner isn't starting? A: If this is the case, this means you have a security system that is blocking our mining script. In order to mine, you have to whitelist BitDigger in your security system. Q: Why is my miner stuck or doing really weird things? A: If you notice anything unusual, it is likely due to a recent update we released. In order to receive the new version and make your plugin work again, simply restart chrome and everything will be back to normal. Q: Why does my mined amount sometimes go up and down? A: This has to do with the price of bitcoin compared to the currencies we're mining. Rest assured, as it will stable out in the long run to give you the most profit. Q: What happens if something happens to my computer and I can't access BitDigger? A: We recommend that once you install the plugin, that you click on the "backup" button and write down your password in a safe place. Once you get a new computer, just download BitDigger again, click "restore", and type your password. Your account will then be reinstated with your original mining progress. Q: How can I contact support? A: If you have an issue that isn't answered here, please email us at [email protected]
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New Post has been published on http://cryptocoin4us.com/bitcoin-news/mine-ethereum-windows-vista-gpu-cpu-ethminer-genoil/
How To Mine Ethereum On Windows Vista (GPU/CPU) With Ethminer Genoil
I made this video showing how I’m mining Ethereum using my home computer. Recommended best Ethereum mining GPU for Price / Performance / Efficiency – AMD R7 370 4GB US http://amzn.to/1V7Dl2T | UK http://amzn.to/1UU6eA7 Hardware I’m using in this video Nvidia MSi GTX 970 4GB US http://amzn.to/242E9eE UK http://amzn.to/26tHiD6
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New Post has been published on http://cryptocoin4us.com/bitcoin-news/happen-bitcoin-18-dec-bitcoin-futures/
What would happen to Bitcoin on 18 Dec? And what is Bitcoin Futures?
December 18th will b a new mark in the bitcoin history as the US leading derivatives marketplace, CME Group plans to launch its Bitcoin futures contract to provide a regulated trading platform for the cryptocurrency market.
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New Post has been published on http://cryptocoin4us.com/bitcoin-news/6-red-flags-ico-scam/
6 red flags of an ICO scam
ICOs have opened to the general public investments in blockchain ventures. In the third quarter of 2017 alone, ICOs raised more than $1.3 billion for crypto ventures — approximately five times more than funding raised through venture capital in the blockchain space.
There were more than 200 ICOs in 2017, and conducting due diligence on all of them would be extremely time-consuming, even for a knowledgeable analyst, let alone an amateur investor. This is compounded by the fact that blockchain is still considered to be an early-stage technology, with new consensus mechanisms and use cases being developed every day.
With exponential growth in public interest, esoteric terminology and a lax regulatory framework, it is no surprise that some ICOs have been used to fund scams and cheat investors of their money.
While nothing can compete with quality due diligence, knowing which red flags to look for in order to steer clear of scams or bad ICOs can be helpful.
Use case does not require blockchain
Not every venture needs a blockchain, and not everything needs to be decentralized. This might seem obvious, but with all the hype around blockchain technology and its disruptive potential, it can be easy to latch on to an idea the moment its whitepaper mentions a large industry the project is purportedly tackling.
Even projects that require cryptocurrencies as payment (e.g. Steemit, which rewards writers on its platforms with a native “digital points system,” Steem) could very well survive with existing cryptocurrencies like Bitcoin and Ether.
When evaluating an ICO, a good first question to ask is: “Do we need a blockchain or a native token for this project?” If the answer is no to both, chances are the ICO project is an example of solutionism — crypto for crypto’s sake — or a scam.
Empty repositories for open-source projects
If an ICO project is proposing open-source code, an empty or nonexistent GitHub is often a red flag.
One of the key traits of many public blockchain projects is the fact that they are open-sourced. This means the code base is often uploaded to repositories like GitHub for all to examine. For those who have blockchain programming experience, looking through the published code can allow them to gauge a project’s validity.
If something seems like a scam, it probably is.
One of the most obvious red flags for a scam project is the lack of detail on how the technology works. For nontechnical investors, it can be helpful to simply check if a project has any existing files uploaded to public repositories or if a project has a functioning product.
While Reddit is generally not an advisable source for investment advice, sub-threads dedicated to discussions of specific ICOs or crypto assets often offer a good entry point for the more technical evaluations.
Mining structure disproportionately favors development team
While not always an accurate litmus test for scams on their own, the supply schedule and mining structure of an ICO can be used to cross-reference other data points and validate the intention of the founders.
In simple terms, a premine refers to when a portion of the tokens for a crypto project is made available to a small group prior to being made publicly available. At times, this can be a necessary vehicle to reward developers and early investors. However, if the percentage of total tokens supplied throughout the lifetime of the project reserved for a premine is high, there is reason for concern.
For instance, Paycoin, whose founder was found guilty of operating a $9 million fraud scheme, had the majority of their tokens reserved for developers on the project. Favoring the development team could be an indication that the team’s intent is to maximize their personal financial gain from the appreciation of the token, rather than maintain the viability of the blockchain network over time.
Anonymous team or team with weak experience
Understanding who is on the team behind a blockchain project is perhaps the most important step in your due diligence. Even if the premise of the venture and the addressable market seem attractive, one of the biggest determinants of a venture’s success is the makeup of the team behind it.
It is often a red flag if the team behind an ICO does not have any named full-time developers. Additional caution should be taken if none of the leadership team has any domain knowledge in the specific vertical.
When looking at a team and verifying their experience, platforms like Twitter and LinkedIn are useful. However, it’s important to note that they are not infallible, as profiles can be faked. If members of the team claim prior association with universities or companies, double-checking with reputable third-party sources (e.g. a university newspaper or the company website) can provide the facts.
ICOs often list their advisors on their websites. You should also verify whether the advisors are legitimate.
Insufficient information on website/whitepaper
If something seems like a scam, it probably is. When you are unsure whether a project is a scam, it is better to err on the side of caution. While it is possible that the lack of well-designed websites and detailed information for a crypto project is because the project is still in its infancy, it can be hard to determine whether a project is underdeveloped or a scam.
In many cases, they can be both. In those cases, interested investors can either wait for more information (such as in the case of Asia-based ICOs, where information is only translated into English later on in the project), or simply avoid ICOs they do not fully understand.
Nothing can compete with quality due diligence.
Another crucial source of information for all ICOs is the whitepaper — the document that outlines the mission, technical details, team and other crucial details behind the venture. While the amateur investor may not have the technical background to fully understand every aspect of a whitepaper, general understanding of blockchain concepts is a must when evaluating whitepapers.
Some more legitimate projects (e.g. Ethereum) offer a high-level whitepaper outlining the key points of the venture, alongside a detailed technical document that explains the technology behind the project.
No clear roadmap
Typically, ICO projects list their funding and development goals on a clear timeline for investors to see. The lack of a clear roadmap could indicate that the developing team has no long-term plan for the project, and as such is likely to be motivated solely by short-term financial gain. Paired with a large premine reserved for the developing team, this could be a strong indicator that an ICO project is not to be trusted with your money.
Often, ICO projects will have dedicated Slack or Telegram channels that the public can join. Through periodic updates distributed on these channels, potential investors can get a sense of how the project is developing.
However, malicious scammers can easily create a timeline out of thin air or provide fake updates on chat apps. While the lack of a timeline is certainly a red flag, the existence of one is not a wholly sufficient condition to indicate the legitimacy of an ICO project.
sorce
6 red flags of an ICO scam
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New Post has been published on http://cryptocoin4us.com/bitcoin-news/hackers-scanning-computers-worldwide-open-bitcoin-ethereum-wallets/
Hackers are scanning computers worldwide for open Bitcoin and Ethereum wallets
Security researcher Didier Stevens setup a trap, or in digital security terms – a “honeypot”. Think of it as digital sting operation, where someone puts a server online open to attack – but nothing of value is really there, it’s only there to record the attacks as they happen.
The logs of these honeypots revealed hackers running scrips aimed at detecting files that contain cryptocurrency wallets.
The filenames included:
wallet – Copy.dat wallet.dat wallet.dat.1 wallet.dat.zip wallet.tar wallet.tar.gz wallet.zip wallet_backup.dat wallet_backup.dat.1 wallet_backup.dat.zip wallet_backup.zip
Didier said he’s seen activity like this since 2013 – but never at such high volume.
The same is now happening to Ethereum since it’s taken a strong hold as the #2 cryptocurrency. Threat hunter Dimitrios Slamaris set up a honeypot and faked having some Ethereum in his wallet.
The hacker checked what software he was running, how much ethereum he had in the wallet, then issued a eth_sendTransaction command in an attempt to steal gas from the previously received account.
It appears the hacker has had some small success too, “The destination account has almost 8 Ethers…” Dimitrios tweeted on Nov 8th.
Since then, there’s been a few more transactions coming in, as well as a transfer going out to the ShapeShift exchange.
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New Post has been published on http://cryptocoin4us.com/bitcoin-news/100-cryptocurrencies-described-four-words-less/
100 cryptocurrencies described in four words or less
his list describes cryptocurrencies.
Each gets four words. There are many.
Some are landmarks. Some are scams.
Hopefully this provides orientation.
Name | Sym. | Description ----------------|-------|------------------------------------------ Bitcoin | BTC | Digital gold Ethereum | ETH | Programmable contracts and money Bitcoin Cash | BCH | Bitcoin clone Ripple | XRP | Enterprise payment settlement network Litecoin | LTC | Faster Bitcoin Dash | DASH | Privacy-focused Bitcoin clone NEO | NEO | Chinese-market Ethereum NEM | XEM | Batteries-included digital assets Monero | XMR | Private digital cash Ethereum Classic| ETC | Ethereum clone IOTA | MIOTA | Internet-of-things payments Qtum | QTUM | Ethereum contracts on Bitcoin OmiseGO | OMG | Banking, remittance, and exchange Zcash | ZEC | Private digital cash BitConnect | BCC | Madoff-like investment fund Lisk | LSK | Decentralized applications in JavaScript Cardano | ADA | Layered currency and contracts Tether | USDT | Price = 1 USD Stellar Lumens | XLM | Digital IOUs EOS | EOS | Decentralized applications on WebAssembly Hshare | HSR | Blockchain switchboard Waves | WAVES | Decentralized exchange and crowdfunding Stratis | STRAT | Decentralized applications in C# Komodo | KMD | Decentralized ICOs Ark | ARK | Blockchain switchboard Electroneum | ETN | Monero clone Bytecoin | BCN | Privacy-focused cryptocurrency Steem | STEEM | Reddit with money voting Ardor | ARDR | Blockchain for spawning blockchains Binance Coin | BNB | Pay Binance exchange fees Augur | REP | Decentralized prediction market Populous | PPT | Invoice trading futures Decred | DCR | Bitcoin with alternative governance TenX | PAY | Cryptocurrency credit card MaidSafeCoin | MAID | Rent disk space BitcoinDark | BTCD | Zcoin close BitShares | BTS | Decentralized exchange Golem | GNT | Rent other people's computers PIVX | PIVX | Inflationary Dash clone Gas | GAS | Pay fees on Neo TRON | TRX | In-app-purchases Vertcoin | VTC | Bitcoin clone MonaCoin | MONA | Japanese Dogecoin Factom | FCT | Decentralized record keeping Basic Attention | BAT | Decentralized ad network SALT | SALT | Cryptocurrency-backed loans Kyber Network | KNC | Decentralized exchange Dogecoin | DOGE | Serious meme bitcoin clone DigixDAO | DGD | Organisation manages tokenized gold Veritaseum | VERI | Vaporware Walton | WTC | IoT Blockchain SingularDTV | SNGLS | Decentralized Netflix Bytom | BTM | Physical assets as tokens Byteball Bytes | GBYTE | Decentralized database and currency GameCredits | GAME | Video game currency Metaverse ETP | ETP | Chinese Ethereum plus identity GXShares | GXS | Decentralized Chinese Equifax Syscoin | SYS | Decentralized marketplace Siacoin | SC | Rent disk space Status | SNT | Decentralized application browser 0x | ZRX | Decentralized exchange Verge | XVG | Privacy Dogecoin Lykke | LKK | Digital asset exchange Civic | CVC | Identity and Authentication App Blocknet | BLOCK | Decentralized exchange Metal | MTL | Payments with rewards program Iconomi | ICN | Digital asset investment funds Aeternity | AE | Decentralized apps (prototype) DigiByte | DGB | Faster Bitcoin Bancor | BNT | Token Index Funds Ripio Credit | RCN | Co-signed Cryptocurrency Loans ATMChain | ATM | Advertising network Gnosis | GNO | Decentralized prediction market VeChain | VEN | Supply chain item IDs Pura | PURA | Cryptocurrency Particl | PART | Privacy marketplace and chat KuCoin Shares | KCS | Profit-sharing exchange fees Bitquence | BQX | Mint for cryptocurrency investments FunFair | FUN | Decentralized casino ChainLink | LINK | External data for contracts Power Ledger | POWR | Airbnb for electricity Nxt | NXT | Cryptocurrency and marketplace Monaco | MCO | Cryptocurrency credit card Cryptonex | CNX | Zerocoin clone MCAP | MCAP | Mining investment fund Storj | STORJ | Rent disk space ZenCash | ZEN | Privacy-focused Bitcoin clone Nexus | NXS | Bitcoin clone Neblio | NEBL | Decentralized application platform Zeusshield | ZSC | Decentralized insurance Streamr DATAcoin| DATA | Real-time data marketplace ZCoin | XZC | Private digital cash NAV Coin | NAV | Bitcoin with private transactions AdEx | ADX | Advertising exchange Open Trading | OTN | Decentralized exchange SmartCash | SMART | Zcoin clone with rewards Bitdeal | BDL | Bitcoin clone Loopring | LRC | Decentralized exchange Edgeless | EDG | Decentralized casino FairCoin | FAIR | Bitcoin that rewards savers
Coin ranking from coinmarketcap.com.
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New Post has been published on http://cryptocoin4us.com/bitcoin-news/major-korean-bank-launch-cryptocurrency-custody-service/
Major Korean Bank to Launch Cryptocurrency Custody Service
Korea’s First Ever Bank Wants Your Bitcoin
Cryptocurrency custody services are all the rage right now, with Coinbase recently launching its own offering for institutional investors. Next it will be the turn of South Koreans to lock down their digital assets thanks to the invervention of Shinhan Bank. As one of the country’s largest financial institutions, Shinhan Bank’s foray into the fray is further evidence of mainstream bitcoin adoption in South Korea. It’s also good news for customers who want to invest in cryptocurrency but don’t relish the responsibility of looking after it.
Since its inception in 1897, then under the name of Hanseong Bank, Korea’s Shinhan Bank has grown to become a behemoth. In 2016 it reported total assets of US $192 billion and over 13,000 employees. As the country’s Naver website reports, Shinhan Bank is poised to open its vault to cryptocurrency holders, who are invited to trial Banknote, its new virtual money deposit service
The bank began work on the service earlier this year, and the project will soon be ready to launch. Its aim is to provide a deposit service for ‘virtual money’ – i.e bitcoin and other cryptocurrencies – that combines the benefits of digital currency with the security of a traditional bank. While many experienced bitcoiners prefer to hold onto their private keys, in the knowledge that no third party can access their wallet, not everyone feels the same way.
Zero Fee Storage
To entice customers into signing up for the service, Shinhan Bank is offering zero fees for deposits and storage initially, followed by a small fee upon withdrawal. The bank is setting up a test server to demonstrate how the service will work before rolling out a full release complete with a mobile app that will contain a dashboard for viewing stats and deposit information. With 30,000 customers of Korea’s major Bithumb exchange having their personal details leaked in June, there’s certainly an appetite for an alternative means of storing digital assets.
For bitcoin holders who don’t want the responsibility of storing keys, for fear they
may lose or misplace them (or even be held to ransom for them) a custody service – especially one backed by a robust financial institution – seems a safe bet. The irony of such services springing up, of course, is that it provides further evidence of bitcoin being embraced by the banking sector it was meant to supplant.
In bitcoin’s genesis block, mined by Satoshi in 2009, the following Times headline was famously included: “Chancellor on brink of second bailout for banks”. Bitcoin arguably started out as a bank killer. Now it’s turning into a bank booster.
Would you entrust your private keys to a bank? Let us know in the comments section below.
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New Post has been published on http://cryptocoin4us.com/bitcoin-news/5-sectors-blockchain-currently-disrupting/
5 Of The Sectors Blockchain Is Currently Disrupting
It’s so much more than the bitcoin.
Blockchain has been everywhere lately – and it’s so much more than a few bitcoins.
It seems that everywhere you turn in the tech industry, someone is talking about the promise of blockchain technology and how it’s going to change the world. Well, I’m here to tell you this: It’s changing the world right now.
Originally invented as a method to create and transfer value between users without an interfering mitigator, blockchain is now proving to be able to do so much more and change the very fabric of the tech world.
Being heralded as the biggest invention in tech since the internet, what can blockchain actually do to change our lives?
Here are the five industries that are being disrupted by blockchain technology, and some companies who are taking part.
Personal Finance
While we hear a lot about how blockchain is going to change the financial world, it’s sometimes hard to connect that with how it’s going to affect our daily lives.
Like most big market trends the booms, and busts are going to affect us, but it’s hard to understand how. Several companies are working on just that, such as COTI. They aim to change the way you shop online utilizing blockchain to create a fair and just online transactional system, and overall – to be the currency of online shopping.
Another company looking to make a difference in how you pay is Colu. Colu has been around for awhile (since 2012 in fact), and v is built on the notion that communities (workplaces, neighborhoods, etc.) have specific financial needs, so they need a coin that is tradable within the community. Their mobile wallet app allows for peer-to-peer and customer-to-business transactions, so community members can financially interact.
Social Media
Social media governs our daily lives and with Russia potentially tampering the 2017 elections, and the spread of fake news it seems to also somewhat govern our governments. Narrative is a blockchain based content platform that rewards those who create good and non-abusive content with cryptocurrency and exposure. Thus, users see more positive, accurate content, and less negative,”bad egg” content by keeping these at the bottom of the feed.
Another social media platform utilizing blockchain is Vanywhere. Vanywhere is a gig economy website, which utilizes the blockchain in order to connect users with specific skills to those users in need of these specific skillsets. The transactions on this platform are being done via cryptocurrency, which means neither side has to pay any sort of fee or commission for this exchange.
Travel
Currently, Expedia and Priceline control up to 95% of the travel market, depending on the region. This gives them almost unlimited power in what they can demand from suppliers like airlines and hotel chains. Price fixing is a common trend in making sure prices are tailored to them rather than the customer and the provider. They also demand massive fees from travel providers, which are then, in some form or another, rolled on the the consumer.
Winding Tree aims to improve that by creating a peer-to-peer travel marketplace with no middlemen; connecting providers directly with consumers. They have recently announced a partnership with Lufthansa.
And trying to impact a different sector, CarFix creates a decentralized marketplace for all things automotive, aiming to create transparency and avoid price manipulation in the industry.
Investment
If you’ve heard about blockchain before, you know of blockchain as an investment -basically buy some cryptocurrency and wait for its value to go up.
What you might not know is that the decentralized technology is creating many new ways to invest and trade, in both digital and non-digital assets. The first is Zen Protocol which is building a bridge to connect digital and crypto assets to real life stocks and commodities, so people can create options, derivatives and more in a blockchain based trading platform.
Another company taking steps to connect the investment world with the digital one is Blackmoon Crypto which is focused on creating a tokenized investment interface, aiming to help people manage funds while taking care of every aspect, such as tech and legal.
Energy
This is where blockchain can impact industries but also the well being of our planet. WePower is allowing green energy consumers to make investments and profit off-of their completed green energy products, as well as provide suppliers with capital to further green and clean energy.
If you thought blockchain is a financial tool for geeks, you have another thing coming. Almost every industry is seeing the potential of a decentralized product and a peer-to-peer financial market. I myself am turning into a blockchain addict each and every day.
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New Post has been published on http://cryptocoin4us.com/bitcoin-news/bitcoin-falling-31-million-crypto-heist/
Bitcoin is falling after a $31 million crypto heist
REUTERS/Danny Moloshok
Tether, the company behind a cryptocurrency pegged to the US dollar, said $31 million stolen from its main wallet on Sunday.
Heist appears to have shaken markets, with bitcoin, ethereum, and bitcoin cash all falling.
LONDON — Major cryptocurrencies bitcoin and ethereum are falling against the dollar on Tuesday morning after a $31 million heist elsewhere in the digital currency world.
Tether, which created a cryptocurrency called USDT that is pegged to the dollar, said in a blog post on Tuesday that “funds were improperly removed from the Tether treasury wallet through malicious action by an external attacker.”
$30,950,010 was taken in total on Sunday, the US company said.
“As Tether is the issuer of the USDT managed asset, we will not redeem any of the stolen tokens, and we are in the process of attempting token recovery to prevent them from entering the broader ecosystem,” Tether said.
Tether is down 0.3% against the dollar on the back of the news, according to CoinMarketCap.com.
The theft appears to have shaken wider confidence in crypto markets. Bitcoin is down almost 1% against the dollar at 7.45 a.m. BST (2.45 a.m. ET):
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New Post has been published on http://cryptocoin4us.com/bitcoin-news/177/
Mine Bitcoin On Google Chrome + Affiliate Program!
Easy to use 🙂
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download
https://chrome.google.com/webstore/detail/bitdigger-mine-bitcoin-on/olhaibgnamekjimdmcinddmmoidbehel
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New Post has been published on http://cryptocoin4us.com/bitcoin-news/bitcoin-major-problem-cant-ignore-longer/
Bitcoin has a major problem, and we can't ignore it any longer...
The Bitcoin network is overwhelmed and there’s no way to downplay it – we have a problem.
At time of publishing, there were over 80,000 transactions yet to be confirmed – and earlier, that number was over 130,000.
There goes the idea of Bitcoin (as it is today) replacing cash. No business is going to wait possibly hours between making a sale, and receiving the payment.
Everyone needs to accept this reality.
So, let’s talk solutions.
Bitcoin’s block size is 1MB, so maybe picture a pipe 1-inch wide, and each transaction is a quart of water.
Currently, the pipe is too small for the amount of transactions that need to flow through it.
This was the idea behind SegWit2x that was proposed, then canceled last week, which would have doubled the block size to 2MB and in theory double the speed of the network. However, developers and the bitcoin community couldn’t reach consensus on implementing it. It wouldn’t be enough to be considered a true solution to this situation anyway. So, scratch that.
Now, Bitcoin Cash is trying to jump into the middle of the crisis, boasting an 8MB block size, but hitting the same problem SegWit2x did – not everyone’s on board.
That brings us to what may be the best, and only viable solution on the table – the lightening network!
It sounds cool, and it is cool – because it could mean INSTANTLY verified transactions.
How? By removing the biggest step from the middle of the transaction.
First, the transaction is purely peer to peer, with the transaction occurring on a “private channel” – then only after the transaction is complete, would the final results be sent to the blockchain to be recorded.
Using the same amount of data available on the network now, much more efficiently!
It looks like that’s where all this is heading. Lighting Network technology is currently being tested on the Litecoin network, and they have completed successful test transactions.
Litecoin founder Charlie Lee outlined his “Vision for Lightning Networks On Litecoin And Bitcoin” here.
The next few weeks will be vital, and could determine how Bitcoin transactions will work far into the future!
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New Post has been published on http://cryptocoin4us.com/bitcoin-news/cme-ceo-says-bitcoin-futures-coming-soon-december/
CME Ceo says Bitcoin futures coming AS SOON AS DECEMBER!
CME Group chairman and CEO Terry Duffy says they aim to be offering Bitcoin futures to their investors as soon as December!
https://www.youtube.com/watch?v=GQxk8cnM5Ic&sns=em
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New Post has been published on http://cryptocoin4us.com/bitcoin-news/bitcoin-discount-bitcoin-will-die-bitcoin-price-bitcoin-gold-explorer/
Bitcoin discount | Bitcoin will die | bitcoin price - bitcoin gold explorer
BILL GATES – NOBODY CAN STOP BITCOIN | Bitcoin Is Unstoppable
BitConnect- A self regulated Financial system.
https://youtu.be/zs5TlVuhFZ4
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New Post has been published on http://cryptocoin4us.com/bitcoin-news/breaking-news-segwit2x-fork-cancelled/
Breaking News: Segwit2x Fork Cancelled
It Has Been Revealed That the Segwit2x Fork Will Not Take Place
Bitgo CEO, Mike Belshe has published a post indicating that the contentious Segwit2x hard fork scheduled for this month will not occur due to a lack of community support.
The post states that “the Segwit2x effort began in May with a simple purpose: to increase the blocksize and improve Bitcoin scalability. At the time, the Bitcoin community was in crisis after nearly 3 years of heavy debate, and consensus for Segwit seemed like a distant mirage with only 30% support among miners.” Belshe adds that “Segwit2x found its first success in August, as it broke the deadlock and quickly led to Segwit’s successful activation.”
Belshe states “our goal has always been a smooth upgrade for Bitcoin. Although we strongly believe in the need for a larger blocksize, there is something we believe is even more important: keeping the community together.” Belshe concedes “it is clear that we have not built sufficient consensus for a clean blocksize upgrade at this time. Continuing on the current path could divide the community and be a setback to Bitcoin’s growth. This was never the goal of Segwit2x.”
The Markets Have Responded With a Dramatic Surge Into New All-Time Highs
Belshe predicts that “as fees rise on the blockchain, we believe it will eventually become obvious that on-chain capacity increases are necessary. When that happens, we hope the community will come together and find a solution, possibly with a blocksize increase. Until then, we are suspending our plans for the upcoming 2MB upgrade.”
The markets have responded with a dramatic surge into new all-time highs. Following the announcement, bitcoin saw a spike of approximately $500 USD in less than one hour -signifying a highly bullish reaction to the news. As of this writing, the price of bitcoin is consolidating above the preceding all-time high at approximately $7700 USD, after having established a new all-time high of $7900 USD.
What are your thoughts on the news that the Segwit2x fork will not happen? Share your opinion in the comments section below!
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New Post has been published on http://cryptocoin4us.com/bitcoin-news/scam-or-legit/
SCAM or LEGIT?
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New Post has been published on http://cryptocoin4us.com/bitcoin-news/ripple-becoming-direct-competitor-swift-global-payments/
Ripple is Becoming a Direct Competitor of SWIFT in Global Payments
Although the cryptocurrency ecosystem is pretty innovative, there are few groundbreaking innovations. Ripple has come up with a rather bold plan in a bid to keep wooing investors. The company itself focuses on being a bridge between fiat currency and digital currency. Their Ripple Transaction Protocol is bringing some much-needed competition to Bitcoin and Ethereum. Whether or not XRP will succeed, remains to be seen.
There is no denying this company makes a valid point. Replacing established solutions such as SWIFT will not be easy. Especially not when considering how this network works in 200 countries and has support from thousands of financial institutions. That doesn’t make it a perfect system by any stretch of the imagination, though Ripple plans to offer a more than viable alternative and is working together with financial service providers to do exactly that.
One of its selling points is the improved transaction throughput. The Ripple ledger can process 1,500 transactions per second with relative ease. That may not sound like a lot, but it will do so at reduced costs and improved speed. That in itself makes it a contender to any entrenched system used by financial institutions around the globe today. This doesn’t mean XRP will suddenly become the currency of banks either, though. However, it never hurts to have more options at one’s disposal in this regard.
Ripple CTO Stefan Thomas sums up the project as follows:
Ripple provides one frictionless experience to send money globally using the power of blockchain. With RippleNet, financial institutions can process their customers’ payments anywhere in the world, instantly, reliably and cost effectively using just one API.
Which brings us to the RippleNet in question, which will have some interesting consequences. Although this project will not make XRP surpass Bitcoin in value anytime soon, it is still a pretty interesting concept. Using just one API for global payments at lower costs and improved efficiency will bring some much-needed changes to the financial sector. The future’s looking bright, that much is certain.
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