Category Archives: Blockchain News

#Blockchain PR: Bitcoin.com Partners With CryptoTag to Bring Space Grade Security to the Bitcoin.com Store

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Bitcoin.com Partners With CryptoTag to Bring Space Grade Security to the Bitcoin.com Store

This is a press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Your security and legacy is not something to be taken lightly. This is why Bitcoin.com have partnered with the security experts at CRYPTOTAG to bring their cutting edge private key and seed backup solution to the Bitcoin.com Store.

The CRYPTOTAG Starter Kit gives you the tools you need to store your private keys and recovery seed on space-grade titanium. Built to be indestructible.

Here is what the CRYPTOTAG team had to say:

‘’Our solution is an unique patented system that we tested thoroughly. We constructed CRYPTOTAG in such a way that all the components work together guaranteeing the best result for our customers.’’

Bitcoin.com Ecommerce Manager, Blake Moore, shared why he thinks CRYPTOTAG is so important:

“Accidents happen and access combinations are forgotten all of the time. CRYPTOTAG is a must-have product if legacy and security are important to you. They are a great addition to the growing range of products and services we offer.”

CRYPTOTAG is compatible with the Bitcoin.com wallet, Ledger, KeepKey and more.
Available now at the Bitcoin.com Store.

About Bitcoin.com:
Bitcoin.com is supercharged to change the world with BCH. Our suite of developer tools has been downloaded 36,000+ times from over 100 countries.
Our team is the heart and soul of the Bitcoin Cash industry. We’re committed to making BCH available to all people, whatever their age, gender, nationality or financial status.

About CRYPTOTAG.io:
CRYPTOTAG is a Dutch startup from Amsterdam. We want to contribute to a community which we believe in. That is why we have created the only premium backup system in the world made out of space-grade titanium.
We at CRYPTOTAG have one goal: empowering people to be their own bank.

Supporting Link
https://store.bitcoin.com/cryptotag

Contact Email Address
blake@bitcoin.com

This is a 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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#Blockchain The Daily: F1 Team Gets Crypto Sponsor, Dubai Royal Invests in Digital Assets Fund

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The Daily: F1 Team Gets Crypto Sponsor, Dubai Royal Invests in Digital Assets Fund

In Wednesday’s edition of The Daily we cover a number of stories that show how despite the ongoing bear market, the field continues to attract major investments and cryptocurrency companies keep on expanding their services.

Also Read: Blockchain.com Launches New Bitcoin Cash Block Explorer

F1 Team Gets Crypto Sponsor

Cryptocurrency venture Futurocoin has announced it’s signed a two-year deal to partner the Aston Martin Red Bull Racing Formula One (F1) team. According to the deal, the company’s branding will be featured on the RB15 F1 cars driven by Max Verstappen and Pierre Gasly, and its logo will also be seen on the drivers’ overalls and the team transporters.

“In recent years, the rise of blockchain technology and cryptocurrencies has been truly remarkable, and we’re delighted to be the first Formula One team to embrace this, through our partnership with Futurocoin,” said Aston Martin Red Bull Racing Team Principal, Christian Horner. “Secure digital currencies are on the leading edge of technological development and we are very excited to be part of this revolution.”

The Daily: F1 Team Gets Crypto Sponsor, Dubai Royal Invests in Digital Assets Fund

Aston Martin Red Bull Racing won the F1 constructors’ and drivers’ world championships in four consecutive years between 2010 and 2013, and has a total of 59 total Grand Prix wins. “Cryptocurrencies and Formula One are very similar and their values are much alike; speed, technology and being ahead of their time,” said founder Roman Ziemian. “I’m a huge fan of motorsport and F1 has always intrigued me. The sponsorship is an exciting new chapter for our company and will be a global platform for us to drive awareness of Futurocoin.”

Dubai Royal Invests in Digital Assets Fund

Liechtenstein-based cryptocurrency investments fund Invao has been selected as the exclusive international partner for blockchain investments by Dubai’s Seed Group, owned by The Private Office of Sheikh Saeed bin Ahmed Al Maktoum. Believed to be one of the world’s wealthiest royals, Al Maktoum is the CEO of Emirates Group, chairman of Dubai World, chairman of the Dubai Supreme Fiscal Committee, and second vice chairman of the Dubai Executive Council.

The Daily: F1 Team Gets Crypto Sponsor, Dubai Royal Invests in Digital Assets Fund
Sheikh Ahmed bin Saeed Al Maktoum

Frank Wagner, CEO of the fund, said: “This represents a seal of approval from an association of elite business minds across the UAE. At INVAO, we have the extensive experience, tact, and resources to contribute to the ascent of the UAE as a bonafide world leader in blockchain technology and look forward to helping this vision to crystallize. INVAO’s recent activity across the Middle East has shone a light on the region’s fertile ground for sustained growth and innovation.”

Coinbase Expands Paypal Support to Europe

Coinbase has announced it is expanding support for Paypal withdrawals to all its customers in the E.U. and the European Free Trade Association countries (Iceland, Liechtenstein, Norway, and Switzerland). Before this move, SEPA and UK Faster Payments were the only options for European users to withdraw fiat funds from the platform. ”As one of the world’s easiest and most widely-used payment platforms, adding Paypal as a withdrawal option for European customers offers another great option for withdrawing their funds,” commented Coinbase’s Allen Osgood.

The company also announced adding the ability to store BTC directly in the Coinbase Wallet app. The new update with BTC support will roll out to all users on iOS and Android over the next week. The non-custodial crypto wallet already supports ETH, ETC, and a plethora of different ERC20 tokens and ERC721 collectibles. As announced previously, Coinbase is working on adding support for Bitcoin Cash (BCH) and other popular cryptocurrencies.

Facebook Takes Over Blockchain Development Team

Facebook has reportedly hired the team behind Chainspace, a blockchain startup founded by researchers from University College London to develop a “planetary scale smart contracts platform.” Four of the five researchers behind the project’s whitepaper are joining Facebook’s blockchain division, and “people familiar with the startup” told Cheddar that Chainspace will shut down now as the social networking giant has taken over most of its developers. A Facebook spokesperson confirmed to the media site that the company had hired people from Chainspace but refused to provide further details.

The Daily: F1 Team Gets Crypto Sponsor, Dubai Royal Invests in Digital Assets Fund

As we previously reported, Facebook founder Mark Zuckerberg set a goal for himself at the start of 2018 to take back power from centralized systems using “encryption and cryptocurrency.” Throughout the year his company appeared to be focused on the subject, with recruitment ads showing that Facebook was looking for data scientists and software engineers to help develop new blockchain solutions, possibly including financial services. It is now estimated that over 40 people already work in the company’s blockchain division.

Australian Exchange to Offer Insurance

Australian cryptocurrency exchange Independent Reserve has announced it will offer insurance coverage to its clients. Underwritten by Lloyd’s of London, the insurance policy insures against theft or loss of any cryptocurrency that is held in an Independent Reserve trading account. It does not, however, cover any losses resulting from market volatility or any losses arising from unauthorized access to trading accounts, such as hacking an individual account or identity fraud. In the event of an incident, clients will be compensated for any loss in their cryptocurrency holdings at the time of the incident.

“Insurance is the next logical step for our exchange in this fast-maturing industry. Our new insurance offering will bring new, meaningful and institutional capital into digital assets that was once sidelined. The Lloyd’s-underwritten policy is an addition to the multiple layers of security Independent Reserve have been using to protect digital assets for 100,000 customers over the past five years,” said CEO Adrian Przelozny. “The acceptance of this policy by the largest insurer in the world is a vote of confidence in our corporate governance, robust risk management and security protocols and a sign of their commitment to working with only the highest quality partners.”

What do you think about today’s news tidbits? Share your thoughts in the comments section below.

Images courtesy of Shutterstock.

Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

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#Blockchain Philippines Announces New Cryptoccurency Regulations

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Philippines Announces New Cryptoccurency Regulations

The Philippines has announced new regulations to govern crypto assets. According to the Cagayan Economic Zone Authority (Ceza), a government regulator, the new regulations cover areas around the acquisition of cryptocurrencies, including utility and security tokens. The aim is to effectively regulate the crypto industry while safeguarding investor interests and promoting innovation, Ceza explained.

Also read: Kraken Acquires British Derivatives Platform Crypto Facilities

New Framework Aims to Protect Investors and Promote Innovation

Dubbed the Digital Asset Token Offering (Dato) regulations, the guidelines require the creators of all crypto assets, in relation to initial coin offerings, to provide clear offer documents carrying relevant details of the issuer, project, and accompanying advice and certification of experts, according to a report by Vietnamese English daily Vietnam News.

Philippines Announces New Cryptocurrency Regulations

Tokens should be listed on the licensed Offshore Virtual Currency Exchange (OVCE), a special exchange set up for this purpose. Participants are required to have confirmed arrangements with Ceza-accredited wallet providers and custodians, said the regulator, which crafted and sanctioned the new framework.

The rules have been broken down into three levels of digital asset offerings, with the first level, tier one, covering assets and investments not exceeding $5 million with payment made in digital tokens. Digital assets covered under tier two range between investments worth $6M to $10M, while tier three covers investments exceeding $10 million.

Raul Lambino, chief executive officer of Ceza, said the Dato framework is not targeted at stifling growth in the cryptocurrency sector, but to protect investors and promote innovation.

“We aim to provide a clear set of rules and guidelines that will boost innovation while also ensuring proper compliance by actors in the ecosystem,” Lambino was quoted as saying. “We hope that these set of regulatory innovations will promote blockchain and crypto adoption by institutional investors and the financial system.”

Self-Regulatory Body to Enforce Compliance

The government-owned regulator said it will be working in partnership with the Asia Blockchain and Cryptocurrency Association (Abaca), a so-called self-regulatory industry representative body, whose obligations include executing and enforcing the regulations. Abaca will also administer a code of conduct among its members, reporting to Ceza any breach or violation relating to the offshore virtual currency exchange regulations.

Philippines Announces New Cryptocurrency Regulations

“The safeguards built into Ceza’s rules and system will lead to greater investor protection and transparency. The involvement of DA agents and experts bring in competent and neutral third parties into the process to help ensure issuers are truthful and accurate,” Lambino detailed.

Ceza, which to date has given 19 companies the green light to operate cryptocurrency exchanges as it moves to develop a financial technology economic zone, further indicated that the new rules will also encourage innovators to use new technologies responsibly. Ceza emphasized that collaboration with local fintech firms and industry players will help the government gain insights and keep up to date with innovations on emerging markets.

Juanita Cueto, chairperson of Abaca, said: “The SRO model allows industry players to police their own ranks, while also promoting and protecting the interests of cryptocurrency investors. The rules will remain stringent in assessing the ethics and integrity of companies eyeing to launch Digital Asset Token Offerings.”

Across the world, government agencies are targeting crypto investors, not only with taxes, but mandatory registration and full disclosure rules. This new wave of regulation poses a contradiction given that some of cryptocurrency’s strongest characteristics have traditionally been privacy and autonomy.

Some of the regions that have recently weaponized their law books to meter aspects of virtual currencies include Malaysia, Australia, Japan, the EU and the U.S.

What do you think about the new cryptocurrency regulations in the Philippines?  Let us know in the comments section below.

Images courtesy of Shutterstock.

Express yourself freely at Bitcoin.com’s user forums. We don’t censor on political grounds. Check forum.Bitcoin.com

 

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#Blockchain Leaked Documents Suggest Mt. Gox Trustee’s Bitcoin Sales Impacted Market Prices

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On Tuesday, Feb. 5, the infamous Goxdox blog returned to inform the public of more detailed Mt. Gox information that “no one wants you to know about.” According to Goxdox, the Mt. Gox trustee Nobuaki Kobayashi’s bank book shows that he previously sold large sums of BTC and BCH using the exchange Bitpoint. The cryptocurrencies were sold on a traditional trading platform, which goes against the trustee’s past statements that the coins would not be sold in this manner.

Also read: Mt. Gox Restitution Process Frozen Due to One Man’s $16B Claim

Goxdox Returns

Last year there was a lot of talk about the Mt. Gox trustee Nobuaki Kobayashi and the possibility of him dumping large sums of bitcoin on the open market. The public was told this would be avoided and Kobayashi said he would take the advice of “experts” and sell them in a way that wouldn’t dilute the market. “I sold BTC and BCH but not by an ordinary sale through a BTC/BCH exchange, but in a manner that would avoid affecting the market price,” Kobayashi told the public last March. However, Goxdox reveals there was never any private auctions and at the time the crypto community noticed that the trustee’s withdrawals coincided with the January and February drops in BTC’s price.

“How do we know it’s Bitpoint?” asks the report’s anonymous author. “Goxdox is in possession of the trustee’s bank book, posted in full at the footer for your reading pleasure and Bitpoint in Japanese is ビットポイント.”  

The Goxdox report continues:

Unless Bitpoint is being really generous, we’d wager the reason they are depositing billions JPY into the trustee’s bank account is because they were hired to sell the Mt. Gox Estate’s BTC/BCH.

Leaked Documents Suggest Mt. Gox Trustee's Bitcoin Sales Impacted Market Prices
Goxdox.com says it calls out the bullshit for Mt. Gox creditors. After a five-year hiatus, the leaker is back with a new Goxdox to give the community the details certain people want kept secret.

Bitpoint’s Sale Affected Price Discovery

In order to make sense of the numbers, Goxdox reviewed the bank book entries which shows the balance of yen growing from the point when Bitpoint wired the original funds to the trustee’s account. Deposits shown in the bank ledger reveal an additional ¥34,346,581,104 ($312.4M) added to the to the initial balance. Unfortunately, the leak doesn’t have any entries prior to Feb. 23, 2018, but the wire amounts they do know of indicate that month the trustee received ¥8.3 billion yen from Bitpoint. “The May entries give us what we are looking for — The trustee received 22 wires between May 1 and June 4 and the bank book entries show Bitpoint sold roughly ¥24 billion JPY worth of BTC/BCH during that period,” explains Goxdox.

Leaked Documents Suggest Mt. Gox Trustee's Bitcoin Sales Impacted Market Prices
The trustee’s bank book documents, according to Goxdox.

The anonymous writer’s recent study claims that the reason Bitpoint sent wires so frequently was to prevent counter-party risk in the event that Bitpoint’s security was breached. Goxdox’ study further states:

The new data from the trustee’s bank book coupled with BTC’s price declines in May/June 2018 indicate that the method Bitpoint used to conduct the sale affected price discovery — In other words, Bitpoint sold on an exchange and not OTC.  

The revelation of the Mt. Gox trustee’s bank book follows the recent claim from Coinlab that hopes to gain a $16 billion settlement from the Mt. Gox civil rehabilitation. Coinlab’s claim could wipe out every other Mt. Gox claimant if it is successful and many creditors have expressed unhappiness with the situation. The civil rehabilitation claims need to be filed by mid-April and the trustee should announce his plan by then.

What do you think about the Mt. Gox trustee selling coins to Bitpoint? Let us know what you think about this story in the comments section below. 

Image credits: Shutterstock, Pixabay, and Goxdox.com. 

Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH, and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

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#Blockchain Data Shows Ethereum is the ‘Cryptocurrency of Choice for Scams’

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Data Shows Ethereum is the 'Cryptocurrency of Choice for Scams'

Since the very early days, back when people learned how to create new cryptocurrencies or quickly build infrastructure models like digital asset trading platforms, many scams started to spawn frequently. According to the blockchain surveillance company Chainalysis, over the last two years fraud in the Ethereum ecosystem has run rampant and it’s been the “cryptocurrency of choice for scams for a variety of reasons,” the company’s latest Ethereum report highlights.

Also read: Cryptograffiti’s Latest ‘Running Bitcoin’ Portrait Sees Auction Bids of Over $30K

Scammers Flock to Ethereum Blockchain

The blockchain monitoring company Chainalysis has been releasing a series of reports concerning the recent “trends in crypto crime.” The firm’s report “Crypto Crime Series: Decoding Ethereum Scams” explains how ethereum (ETH) is the top choice for crypto-related scams throughout the ecosystem. In 2017, there was only $17 million worth of ETH stolen in scams but in 2018 roughly 0.01 percent of ETH was involved in swindles worth $36 million. “The number of scams declined through 2018, although those that remained were bigger, more sophisticated and vastly more lucrative,” the Chainalysis report details.

“From late 2016 through the end of 2018, Chainalysis has identified over 2,000 scam addresses on Ethereum that have received funds from nearly 40,000 unique users — Scam activity increased dramatically in 2018 with nearly 75% of scamming activity taking place that year,” the report explains.

Data Shows Ethereum is the 'Cryptocurrency of Choice for Scams'

There are four types of prevalent scams taking place within the Ethereum space – outright fraud, the ICO exit scam, a Ponzi product, and phishing attempts. Chainalysis also says the frequency and success rates of concepts like infection scams can change over time.

“Innovative criminals executed more complex Ponzi and ICO exit scams that generated millions of dollars in income — These more sophisticated schemes dominated the second half of the year,” the crime series report summarizes.

Data Shows Ethereum is the 'Cryptocurrency of Choice for Scams'
The transformation of scam types and growth throughout 2017 and 2018.

From Giveaways to Ponzis – Etherscam’s Database Shows 924 Scams Are Currently Active

Chainalysis is not the only group watching the Ethereum network for scam related incidents. In fact, the website Etherscamdb.info which showcases a plethora of ETH-related scams can be seen by the entire cryptocurrency community. The Etherscam database has recorded 6,378 scams and 924 are currently active. The records show 1,975 scam-related ethereum addresses and out of the 6,378, roughly 5,454 are inactive. What also should be taken into consideration is that this information is only what Etherscam’s database can trace and there are lots of fraudulent acts that go unnoticed.

Data Shows Ethereum is the 'Cryptocurrency of Choice for Scams'
The vast list of cryptocurrency scams using ethereum.

Etherscam collects data on fake My Ether Wallet (MEW) websites, Punycode lookalike domains, phony exchanges, fraudulent impersonation giveaways, and ICO exit scams. Then there are Ponzi games tied to the Ethereum ecosystem with multi-level pyramid applications like Fomo 3D and Powh 3D. These platforms only make money by bringing new users into the fold and use all kinds of tactics like pay-per-bid methods, and multi-level marketing techniques. Back in March, the founder of Dapp Radar, Skirmantas Januskas gave a great breakdown of the Powh 3D Ponzi game and called it the “biggest pyramid scheme on Ethereum so far.”

Even though there are many scams on the Ethereum network, there are various ways ETH users can protect themselves by not participating in blatant fraud. Veteran cryptocurrency participants will always illuminate the fact that holding your own keys, utilizing cold storage and multi-signature techniques are critical to keeping financial information safe. But there are many other methods that can be used like bookmarking official cryptocurrency websites, double-checking copy and pasted addresses, and not trusting “free giveaways” that will further help keep digital assets secure. As the Chainalysis crime series report details, blockchain criminals are executing petty crypto crimes far less than before, but the scams that still exist are becoming far more sophisticated.

What do you think about the number of scams attracted to the Ethereum network? Let us know what you think about this subject in the comments section below.

Image credits: Shutterstock, Ethereum logo, Pixabay, Brandon Arvanaghi, and Chainalysis.

Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH, and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com. 

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#Blockchain Blockchain.com Launches New Bitcoin Cash Block Explorer

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Blockchain.com Launches New Bitcoin Cash Block Explorer

Wallet provider Blockchain.com has started offering a new tool for users to peer into the inner workings of their cryptocurrency. The company has launched a Bitcoin Cash (BCH) block explorer that allows people to search for transaction hashes, blocks and addresses on the BCH blockchain.

Also Read: Bitcoin Cash Clothing Charity Expands to a Dozen Cities Across Canada

New BCH Blockchain Explorer

Blockchain.com, the popular cryptocurrency wallet provider, has announced the launch of a new Bitcoin Cash (BCH) block explorer. The company explained, for the benefit of individuals who may be unfamiliar with the concept, that they can think about the tool as a browser for the blockchain. It allows users to search for detailed information on specific BCH blocks, check whether a transaction has confirmed, view the balance of a wallet address, monitor market prices, and even watch real-time network transactions.

Blockchain.com Launches New Bitcoin Cash Block Explorer

“As more cryptocurrencies develop and grow, providing direct access and insight across networks is crucial. Blockchain Explorer is the most trusted source for blockchain data. Our focus has always been on providing the most up to date and accurate information available,” the Blockchain.com team stated on Feb. 4. “Today, we’re excited to introduce Bitcoin Cash to the existing lineup of supported cryptocurrencies on our Explorer. You can now search for BTC/ETH/BCH transaction hashes, blocks and addresses in a single search bar.”

Why Bitcoin Cash?

The BCH tool is only the third block explorer supported by Blockchain.com after Bitcoin Core (BTC) and Ethereum (ETH). When the company launched another service last month the team mentioned that it has received more questions about bitcoin cash recently than any other crypto asset supported by the Blockchain Wallet.

Blockchain.com Launches New Bitcoin Cash Block Explorer

In January the company launched an educational tool called Blockchain Primers. The service is intended to provide a relatively concise overview of each crypto asset including background material, the latest market data and analysis. The first report issued on it was an introduction to BCH, whose advantages over BTC, according to the research, include greater maximum onchain transaction capacity/throughput, lower average transaction fees, and additional smart contract functionality.

What do you think about the new Bitcoin Cash (BCH) block explorer from Blockchain? Share your thoughts in the comments section below.

Images courtesy of Shutterstock.

Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

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#Blockchain Report Claims Quadrigacx Never Held More Than 1,000 BTC

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Report Claims Quadrigacx Never Held More Than 1,000 BTC

The drama surrounding Canadian cryptocurrency exchange Quadrigacx continues to intensify, with a recent report by Zernoncense claiming that the exchange has no identifiable cold storage reserves and that it has never held more than 1,000 BTC in customer funds.

Also Read: Kraken Acquires British Derivatives Platform Crypto Facilities

Report Refutes Claims of Quadrigacx Owner’s Widow

Report Claims Quadrigacx Never Held More Than 1,000 BTCThe report finds numerous assertions made in the affidavit submitted to Canadian courts on Jan. 31 by Jennifer Roberston, the wife of the exchange’s allegedly deceased chief executive officer, Gerry Cotten, to be false.

The findings have been informed by analysis of Quadrigacx’s BTC and ETH wallets. As the wallet addresses for Quadrigacx “were not widely known,” the report relies on deposit information given to customers that was aggregated from Reddit.

The author notes that the findings are not guaranteed to represent “a factual truth,” however, comparisons between Quadrigacx and the withdrawal practices of known solvent exchanges shows “highly unorthodox” practices.

The analysis was conducted using Walletexplorer, which as the author states was created and is still being used by Chainalysis.

Report Claims Quadrigacx Uses Multi-Signature Wallets

Based on Zerononcense’s findings, the number of BTC held by Quadrigacx is substantially less than that which was reported in Jennifer Robertson’s affidavit.

The analysis finds that there are “no identifiable cold wallet reserves” for Quadrigacx, estimating that the exchange is in possession of less than 1,000 BTC.

The report also claims to evidence transfers totaling approximately 3.53 BTC that occurred on Jan. 24 and Jan. 25, apparently contradicting Robertson’s claims that the exchange’s funds are inaccessible.

Report Claims Quadrigacx Never Held More Than 1,000 BTC

The report also asserts that the numerous wallets used by Quadrigacx had multi-signature capability.

Quadrigacx Accused of Rerouting Customer Funds to Process Withdrawals

According to the report’s findings, Qaudrigacx was “clearly” re-routing payments from customers to process withdrawals, comprising the operation of a “shell or a ponzi.”

The author also asserts that withdrawal delays previously experienced by Quadrigacx customers resulted from the exchange not having the required funds available at the time, adding that in some instances the exchange was “forced to wait for enough customer deposits to be made” before processing withdrawals.

What do you make of the Quadrigacx drama? Share your thoughts in the comments section below!

Images courtesy of Shutterstock

At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

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#Blockchain The Daily: Turbo Tax Adds Crypto Section, Venezuela’s Localbitcoins Record

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The Daily: Turbo Tax With Crypto Section, Venezuela With Localbitcoins Record

In this edition of The Daily, tax filing software Turbo Tax has integrated a feature that allows crypto investors to report their capital gains online. Also, Venezuelans have set a new record in P2P trade on Localbitcoins and Brazilians can now pay for movie tickets with digital coins.  

Also read: Twitter CEO Talks Bitcoin, Bitstamp Releases New Mobile App

Traders Can Upload Capital Gains Data Into Turbo Tax

Turbo Tax, the popular tax filing platform in the U.S., is adding a “cryptocurrency section.” The new feature will be provided through a partnership with Coins Tax, the operator of crypto tax calculator Bitcoin Taxes. It will be available to taxpayers who have bought the 2018 Premier and above versions of Intuit’s Turbo Tax Online.

The Daily: Turbo Tax Adds Crypto Section, Venezuela's Localbitcoins Record

According to a press release by Coins Tax, Bitcoin Taxes now has a report functionality that enables users to import their cryptocurrency capital gains into Turbo Tax Online. The company claims the integration will save crypto traders time in tax preparation by allowing them to upload their transactions directly into Form 1040 Schedule D. Coin Tax CEO Colin Mackie commented:

We are working with Turbo Tax Online to make filing crypto taxes much easier. Until now, tax preparation software has provided limited cryptocurrency support. The new Cryptocurrency section in Turbo Tax Online with its import from Bitcoin.tax will save everyone a lot of time.

Bitcoin Taxes is one of the earliest tax calculators for crypto investors. The online platform allows users to import data for their purchases and sales of cryptocurrency throughout the year from a number of major crypto exchanges such as Coinbase, Gemini and Poloniex. It’s one of several available tax filing and calculation tools cryptocurrency traders can use this tax season.

Venezuelans Set New Record in Localbitcoins Trade

While the government in Caracas is trying to regulate decentralized cryptocurrencies, Venezuelans have achieved a new record in the volume of their crypto trade on Localbitcoins. Data compiled by Coin Dance shows that in the week of Feb. 2, 2019, they exchanged over 17.3 billion bolivar worth of bitcoin core on the peer-to-peer cryptocurrency trading platform. That’s more than 2,000 BTC, an all-time high for the market.

The Daily: Turbo Tax Adds Crypto Section, Venezuela's Localbitcoins Record

The news came just as Venezuelan authorities adopted regulations for digital coins in the country. The decree establishing a legal framework for cryptocurrencies entered into force with its publication in the country’s official gazette, as news.Bitcoin.com reported. It introduces rules for an array of crypto-related activities such as the purchase, sale, use, distribution, and exchange of digital assets. It will also enforce penalties for non-compliance including fines and confiscations.

Movie Theater in Brazil Accepts Coins for Tickets

Cine Multi has reportedly become the first Brazilian cinema to accept cryptocurrency for the tickets it sells thanks to a partnership with crypto payments provider Bancryp – the company maintains POS terminals accepting digital coins. The movie theater is located in the Multi Open Shopping center in the city of Florianópolis, capital of the southern Brazilian state of Santa Catarina. According to a post on Medium, Bancryp, which advertises itself as a cryptobank, targets millions of users in Brazil in an effort to provide more people with access to cryptocurrencies.

The Daily: Turbo Tax Adds Crypto Section, Venezuela's Localbitcoins Record

What are your thoughts on today’s news tidbits? Tell us in the comments section.

Images courtesy of Shutterstock, Coin Dance.

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#Blockchain 6 Popular Darknet Marketplaces That Accept Cryptocurrency

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6 of the Most Popular Darknet Marketplaces That Accept Cryptocurrency

The P2P exchange of cryptocurrencies for goods and services began life on the darknet, whose underground markets are still thriving today. After connecting to the darknet using the Tor browser, cryptocurrency users can access a range of markets that accept BTC, BCH and other digital assets.

Also read: A Look at Openbazaar’s Multi-Currency Wallet and Vendor Listings

Buy Anything You Need in a World Free of KYC

There are many reasons why people flock to the darknet to shop. Be it out of curiosity, necessity, or simply a desire for the sort of privacy that’s lacking on the clearnet, darknet marketplaces (DNMs) offer many things for many people. While synonymous with illicit wares, including drugs, DNMs offer much more, stocking tangible and intangible goods ranging from books to art.

For anyone intrigued by what darknet marketplaces have to offer, there are certain security precautions it’s wise to take before plunging in. These include disabling Javascript in the Tor browser and taking care to avoid links to phishing sites. Just like the clearnet, the darknet has its share of lookalike sites designed to part traders with their crypto. Sites such as Deepdotweb (when it’s online) as well as onion forum Dread are where many users get started. When DNM operators are changing their onion domain, they’ll usually post an update on these sites, signed with their PGP key. The following darknet markets are the most popular right now.

Dream

The darknet’s longest standing market, Dream, has somehow survived since 2013. It accepts bitcoin core (BTC) and bitcoin cash (BCH) and features 63,000 digital goods, 87,000 drugs, and thousands of other listings under such categories as “drug paraphernalia” and “services.” Listings can be filtered by cryptocurrency, seller location, buyer location, vendor, and keyword. The marketplace features one-tick message encryption at checkout, but buyers are recommended to fully encrypt messages using the vendor’s public key. That way, if the website should be compromised, messages will be indecipherable.

6 Popular Darknet Marketplaces That Accept Cryptocurrency
Dream

Wallstreet Market

Wallstreet is another DNM that’s been standing for a while. It supports 2/3 multisig, enables PGP login and supports BTC and privacy coin monero (XMR). Drugs is its most populated category, but Wallstreet also does a robust trade in counterfeits, jewelry, services, malware, digital goods, and tutorials.

6 Popular Darknet Marketplaces That Accept Cryptocurrency

Point

Point, also known as Tochka, is the third most popular DNM at present. It features the sort of wares that are the stock in trade of darknet marketplaces: drugs, fakes and more drugs. The site accepts BTC, BCH, and ETH, and it also facilitates dead drops. This enables buyer and seller to set a secret location where the goods can be left for collection.

CGMC

CGMC, or Cannabis Growers & Merchants Co-op, is a small DNM for those who appreciate the dankest strains. It currently has 50 U.S. vendors, 13 British, 13 in the EU, and 3 Canadian. The cannabinoid wares are categorized into flowers, concentrates, edibles, distillate, and shrooms. The site accepts BTC and LTC and enables cannabis connoisseurs to choose from hundreds on indica, sativa, and hybrid strains. A careful vendor screening policy has helped to instil deep trust in CGMC.

6 Popular Darknet Marketplaces That Accept Cryptocurrency

Berlusconi Market

Berlusconi is one of the smaller DNMs, and isn’t highly rated on Deep Dot Web, although reviews can be easily gamed by rival markets, it should be noted. The site accepts BTC, LTC and XMR. In addition to drugs, gold and digital goods, Berlusconi Market stocks weapons. One British vendor professes to stock an AK-47, Glock 17, Glock 26 and a Bushmaster. Elsewhere, you’ll find a handheld grenade launcher going for 0.5 BTC with “discreet overnight stealth shipping.” Whether the sellers prove to be legitimate or law enforcement, however, is a matter of debate.

6 Popular Darknet Marketplaces That Accept Cryptocurrency

Cannazon

Cananzon, as its name suggests, is the Amazon of cannabis. The site sells high-grade strains to a primarily European audience, who can load up on weed, hash and edibles. Afghan, Lebanese, and Moroccan hash is complemented by indica and sativa weed as well as seeds. The site accepts BTC and XMR. U.S. residents are excluded from Cannazon and its range of delectable sounding wares such as master kush, limoncello haze, stardawg, and trainwreck.

6 Popular Darknet Marketplaces That Accept Cryptocurrency

What are your thoughts on darknet marketplaces? Let us know in the comments section below.

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#Blockchain PR: Coinseed Announces Its SEC Filed Crowdfunding Campaign

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Coinseed Announces Its SEC Filed Crowdfunding Campaign

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Coinseed is a platform for spare-change investment and cash back rewards in crypto. Since they launched in Dec 2017, they have acquired nearly 20k users through organic growth and built several new features. As they are now preparing to scale up the business, Coinseed launched its SEC filed crowdfunding campaign and you can join here.

Crypto is still confusing and intimidating to most people as well as its still a very risky sector. Coinseed solves these exact problems in a streamlined way. Users start out by simply linking their credit or debit card to the app then picking their investment portfolio. As users make purchases on those linked cards, the spare change (roundup to the next dollar) will be going into their investment portfolio which can consist of up to 13 different coins on the platform.

Users can also earn free crypto by shopping online or offline using their linked cards. In other words, people receive their cash back rewards in crypto. Coinseed names this feature Crypto Back and you can earn up to 10% on your online purchases and 1% on your offline purchases such as restaurants, coffee shops and bars. This whole experience eases people into crypto and make them learn about crypto by actually doing it as well as earning it.

Coinseed has multiple other features such as simulated trading environment where people can practice their trading skills or weekly trading tournaments which anyone can participate to win $250 each week. Coinseed is currently only available in the US.

Check out its SEC registered campaign and all related information here. If you have any question, please contact them at support@coinseed.co.

Link: https://coinseed.app.link/MBPM2LKeWT
SEC registration: https://www.sec.gov/cgi-bin/browse-edgar?company=coinseed&owner=exclude&action=getcompany

Contact Email Address
support@coinseed.co

Supporting Link
https://coinseed.co

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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