Law Enforcement Takes Down the Biggest Darknet Market on the Deep Web

Law Enforcement Takes Down the Biggest Darknet Market on the Deep Web

According to various reports the largest online marketplace located on the deep web, Alphabay, was seized by International law enforcement. The Biggest Darknet Market on the Deep Web Has Been Shut Down By International Authorities. On July 11 Bitcoin.com reported on the Alphabay darknet marketplace going offline for over a week. In that report, we detailed a theory of a global “deep web” law enforcement task force that seized computers in Quebec and made a connected arrest in Thailand. On July 13 according to the Wall Street Journal and sources familiar with the international authorities —....


How Blockchain Gaming Is Evolving The Way Games Are Played

How Blockchain Gaming Is Evolving The Way Games Are Played

With the gaming industry continuing to grow in size and value, some companies are looking into building games around Blockchain to take advantage of cryptocurrencies, tokens, and their benefits. Whether it might be a trading card game, MMO or RPG, the use of virtual currencies in games is getting popular. Blockchain-backed assets. In recent years, games have entered the markets using Blockchain features such as wallets or tokens to secure and back in-game items. This way players have more ownership of the items or currency they loot and purchase. With a Blockchain record, players are....

Enterprise Ethereum Alliances Unveils New Technical Steering Committee

Enterprise Ethereum Alliances Unveils New Technical Steering Committee

The Enterprise Ethereum Alliance has revealed a new technical steering committee, five months after the group first launched. As CoinDesk reported at the group's launch in February, the alliance is backed by a broad array of blockchain startups and enterprise businesses, including Merck, Toyota, and even the state government of Illinois. The group tripled in size in May, adding more than 80 companies to its roster. Now, the group is laying down some of its governance foundations, instituting a new technical steering committee that will be focused on advancing the EntEth 1.0 reference....

Retailers Turn Their Backs On Booming Bitcoin: Trade Magazine

Retailers Turn Their Backs On Booming Bitcoin: Trade Magazine

Bitcoin’s uptake with popular and leading online retailers has been slow, but since its rapid surge in value and interest recently, it has regressed. Fewer, rather than more, retailers are accepting Bitcoin as a form of payment. Last year five retailers in the world’s top 500 biggest online stores were accepting Bitcoin according to the publication Internet Retailer, now, however, it has emerged that the figure is down to just three. Where is the growth? It is a perplexing discrepancy in the growth of Bitcoin to its acceptance by online merchants, as noted by Morgan Stanley payments....

Latest Cryptocurrency Exchange Hack Highlights Need for Better Security Protocols

Latest Cryptocurrency Exchange Hack Highlights Need for Better Security Protocols

It comes with the territory that digital currency will be susceptible to digital threats. Hacking and theft have almost grown up side by side with things like Bitcoin, and, as the popularity and value of the digital currency rises, its attraction to thieves also grows. The most recent major hack has seen one of the top five biggest Bitcoin and Ethereum exchanges, Bithumb in South Korea, fall prey to hackers. The hack was confirmed July 5 when information, as well as hundreds of millions of South Korean won, were been made off with in an attack with a difference. Most exchanges know they....

Some Small Movement in Regulatory Challenges This Week

Some Small Movement in Regulatory Challenges This Week

Theo Chino, a bitcoin advocate who has been fighting regulations in the U.S. for over two years, requested the withdrawal of the proposed “Uniform Regulation of Virtual Currency Businesses Act.” Only July 7, 2017, Chino asked the Uniform Law Commission (ULC) to withdraw the proposed regulation on cryptocurrencies in the United States. The bitcoin advocate submitted a letter to the ULC asking to abandon the proposed statute. Chino argued that many of the states have “significant disagreements and approaches as to how to classify or regulate bitcoin.” In addition, there is a high level of....

Analysis: Rally Seen in Top 50 Cryptocurrencies

Analysis: Rally Seen in Top 50 Cryptocurrencies

The trend reversal which started two days ago picked up full steam, as all top 50(!) cryptocurrencies showed gains in the past 24 hours. Out of the top 10, Ethereum Classic showed the biggest climb, rising more than 37%. Ripple, Ethereum and IOTA also registered double-digit percentage gains. Ethereum bounces back over $200. After having a rocky start in July, registering many more losing days than winning ones, Ethereum finally gave traders a reason to smile. In the past 24 hours, the world’s second largest cryptocurrency climbed more than 15%, settling well above the $200 mark. Ethereum....

Goldman Sachs Granted 'SETLcoin' Cryptocurrency Patent

Goldman Sachs Granted 'SETLcoin' Cryptocurrency Patent

Investment bank Goldman Sachs has been awarded a patent for its proposed "SETLcoin" cryptocurrency settlement system. The US Patent and Trademark Office (USPTO) published Goldman's patent on July 11, entitled "Cryptographic currency for securities settlement". The bank made headlines when the existence of the patent application was revealed in late 2015. The concept envisions a system for settling securities trades using a built-in cryptocurrency. When filed in December of that year, the application notably outlined methods for exchanging SETLcoins for digitized stocks for firms like....

Op Ed: The Value of Sidechains and Leveraging Their Potential

Op Ed: The Value of Sidechains and Leveraging Their Potential

Since Bitcoin’s launch in 2009, there has been a growing interest in tapping the potential of decentralized cryptocurrencies. However, any modifications to the consensus layer, the critical part of any cryptocurrency, must be handled with caution. Compared to other internet protocols, this makes it harder for Bitcoin to adopt new features and meet new demands. This is why sidechain technology has been proposed: It allows for the transfer of digital assets, including bitcoin, across different blockchains. While most cryptocurrencies are incompatible, assets are not interchangeable; “fusion”....

Digital Currency Support Levels Hold Up; What Now?

Digital Currency Support Levels Hold Up; What Now?

Using Ethereum (ETH) as my specimen I watched prices gap lower and run directly into support, and in the case of ETH it was a simple math calculation establishing $166 per coin as a dependable level of support, and the sell off held this support level trading to $170 before reversing. I think it is important to ask what should happen now. Let’s review the price action and examine the technical analysis logic we have been using. In 2017 ETH traded from $18 to $408 and sold off more than 50% trading down to $170, if you do the math $170 was about a 62% retracement which is standard in....

Blockchain Adtech Startup ‘Hybrid’ ICO Will See Tokens On Sale At Bittrex

Blockchain Adtech Startup ‘Hybrid’ ICO Will See Tokens On Sale At Bittrex

Blockchain adtech startup CakeCodes will use a “revolutionary” distribution method in the ICO for its upcoming jobs marketplace StorMarket. In a press release issued Wednesday, the company announced it would sell its STORM tokens on both an Ethereum smart contract and cryptocurrency exchange Bittrex. “The STORM utility tokens will be sold through a revolutionary hybrid crowdsale mechanism, in which $40 mln will be available to participate through an Ethereum smart contract and $10 mln worth of tokens can be obtained through [...] Bittrex,” it confirmed. Frenetic Ethereum token market. The....

Blockchain Industry Heading Towards Putin’s Prediction of New Digital Order

Blockchain Industry Heading Towards Putin’s Prediction of New Digital Order

In the era of global economic transition, Blockchain user interfaces will function as a crucial link in bridging the gap between the old and the new order. Russian President Vladimir Putin’s assertion at the G20 summit reveals that digital technology is an important aspect of global economic future. New digital order. According to Vladimir Putin, the global economic transition to a new industrial order will be underpinned by the development of digital technology. He said this at the G20 summit that was held in Hamburg on July 7-8 2017. Putin said: “We believe that the G20 will take a....

Austria’s Energy Company Switch First To Take Bitcoin Payments

Austria’s Energy Company Switch First To Take Bitcoin Payments

Austrian and German energy provider Switch has begun accepting Bitcoin for gas and electricity bill payments. In a press release and Facebook post Wednesday, Switch, which is wholly owned by EnergieAllianz Austria, said the move marked a first for Austrian energy customers. “With the introduction of cryptocurrency Bitcoin as a payment method in Austria we’re aiming to cater principally to digitally-aware customers and other interested parties,” CEO Christoph Schmidt said in the accompanying release. Billing literature can now also be issued in Bitcoin for those opting to use it for....

Slight Recovery in Crypto Markets

Slight Recovery in Crypto Markets

After yesterday’s crash, the crypto markets showed signs of recovery today, as many major currencies showed moderate gains of around 2% over the past 24 hours. Out of the top 10 currencies, Ethereum Classic registered the most gains, climbing nearly 13.5%. Ethereum trading volume passes Bitcoin. After reaching as low as $175 yesterday, Ethereum climbed back this morning, nearing the $200 mark. The Ethereum market was very active yesterday, leading all currencies in the trading volume category, with more than $1.3 billion in Ether changing hands. Bitcoin continues bearish trend. After....

Startup Darling EOS Cashes In Millions Of ETH As ICO Scorn Continues

Startup Darling EOS Cashes In Millions Of ETH As ICO Scorn Continues

Blockchain startup EOS is exchanging millions of dollars’ worth of Ethereum (ETH) for fiat, leading to concerns prices are suffering as a result. Analysis of wallets linked to EOS, which has so far raised around $200 mln in its marathon ICO, shows mass transactions being sent to cryptocurrency exchange Bittrex. “Long story short, some of the bigger ICOs are cashing in and contributing to a decline in price,” a user uploading the findings to Reddit concluded. The sheer volume of interest in recent ICOs and associated side-effects for the Ethereum network have led to increasing criticism....

$232 Million: Tezos Blockchain Project Finishes Record-Setting Token Sale

$232 Million: Tezos Blockchain Project Finishes Record-Setting Token Sale

The Tezos blockchain project has completed its initial coin offering, or ICO, bringing in a record-smashing $232m-worth of bitcoin and ether. At close, Tezos had netted 65,627 BTC (worth roughly $156m at current prices) and 361,122 ETH (worth about $76m). The crowdsale, which didn't have a cap on the total amount of tokens sold, began on July 1, and was timed with the passage of 2,000 transaction blocks on the bitcoin network. The total represents the most collected via an ICO to date, topping the amount raised by Bancor, a platform for launching new blockchain tokens, which raised $150m....

Kazakhstan Signs Innovation Pact To Become ‘Blockchain Singapore’

Kazakhstan Signs Innovation Pact To Become ‘Blockchain Singapore’

Kazakhstan is working with Deloitte, the Blockchain company Waves and others to examine how the technology can operate in government. A press release issued today claims the country wishes to become the “second after Japan” to “recognize the need for the development of the cryptocurrency market system at the governmental level.” “The signing of the memorandum with our partners on the development of the digital currency market on the basis of the The International Financial Center Astana is the first step towards a creation of a full-fledged ecosystem of the digital economy in Kazakhstan,”....

Coinbase Versus IRS: IRS Concedes The First Round

Coinbase Versus IRS: IRS Concedes The First Round

In what is being heralded as one of the biggest ever victories for the cryptocurrency community, the Internal Revenue Service has decided to considerably limit the scope of its investigation into customers of one of the most popular cryptocurrency exchanges in the country. The Story So Far. The latest development in this ongoing battle between Coinbase and the IRS brings as much surprise as it brings relief in the wake of Bitcoin’s slide into Bear Market territory. Not even the most optimistic supporters of the digital currency would have predicted this outcome after the agency had....

Analysis: Ethereum Classic Traveling Down an Alternate Path in a Bikini

Analysis: Ethereum Classic Traveling Down an Alternate Path in a Bikini

The selloff in most digital currencies raised eyebrows for many, but I noticed that the Ethereum Classic Coin (ETC) was trading in its own world and rallied 14% this week while Bitcoin, Ethereum and Ripple all got smashed giving back between 7% and 25% respectively. This widened the spread between these active digital currencies and any pair trading (Long one DC and Short the other) strategies with ETC as the long anchor leg is killing it. I think these gaps in the pair trade spreads may be telling us a subtle story about the long-term value of these individual coins and we should be....

IOTA Is down by Nearly 50% in a 7-Day Period

IOTA Is down by Nearly 50% in a 7-Day Period

As most cryptocurrencies start recovering from yesterday’s cryptocurrency calamity, IOTA, a cryptocurrency designed for the Internet of Things (IoT), has suffered an 8 percent loss in the past 24 hours. The cryptocurrency has already lost nearly 50 percent of its value in the past 7 days, according to data from CoinMarketCap, as the cryptocurrency’s market cap dropped from $1.064 billion to $577,483 at press time. IOTA’s token is now worth $0.207763 and its price decrease, at this point, reflects the currency’s volatile history. IOTA was launched on June 13 and when it did it immediately....

Banks Need ‘Hybrid Approach to Blockchain Technology’: Ripple’s Marcus Treacher

Banks Need ‘Hybrid Approach to Blockchain Technology’: Ripple’s Marcus Treacher

Ripple, which touts itself as the “Global Settlement Network” and has been involved with various banks to move money around the world, has its own ideas about how Blockchain can and can’t help the banking sector. Blockchain has been touted as the be all and end all solution for most if not all of the world’s problems. We have seen the application of Blockchain for everything from gift giving to releasing music. On the face of it, Blockchain appears to be the best possible solution for banking. Bitcoin has already demonstrated that it is possible to move money across the world quickly,....

Private Swiss Bank Falcon Group Offers Bitcoin Asset Management

Private Swiss Bank Falcon Group Offers Bitcoin Asset Management

On July 12 the Switzerland-based private bank Falcon Group announced the bank will offer bitcoin asset management for their customers. Through a partnership with Bitcoin Suisse AG, the bank’s clients will be able to purchase and store the decentralized currency using their account funds. Falcon Group Becomes the First Swiss Private Bank to Offer XBT/BTC Asset Management. Over the past few months, a few banks have been integrating bitcoin asset management into their banking platforms. In May, Norway’s largest online bank Skandiabanken announced bitcoin accounts for customers, and Fidelity....

After Black Tuesday, Bitcoin Price, Altcoins Showing Signs Of Recovery

After Black Tuesday, Bitcoin Price, Altcoins Showing Signs Of Recovery

It was a very negative beginning of the week for cryptocurrency holders as the entire market experienced a significant decline in price. August 1 is near. Market analysts have come up with different factors to be behind this significant decline in Bitcoin and altcoin price. Ironically, this comes immediately after the G20 summit in Hamburg where reference was made to digital currency as an important technology in the global economic transition. Also of note is that the community is nearing an important date of August 1 when Bitcoin is expected to make its most crucial decision since....

Why Brave's $35 Million ICO May Not Be Enough for a High-Tech Hiring Spree

Why Brave's $35 Million ICO May Not Be Enough for a High-Tech Hiring Spree

While ad-blocking browser startup Brave just raised millions of dollars in an initial coin offering (ICO), that doesn't mean the startup has been able to make all its goals actionable. After attracting what was then valued at $35m by selling cryptographic assets aimed at monetizing online user behavior, the startup today posted the first of a series of job posts that would double the startup's size. However, after having privately been on the hunt for talent for weeks, Brave founder Brenden Eich is cautious about how quickly he'll be able to find the much-needed talent. In the wake of a....

Op Ed: Drivechains Could Kill Off the Altcoin Market

Op Ed: Drivechains Could Kill Off the Altcoin Market

Sidechains have been viewed as Bitcoin’s way of dealing the altcoin market since 2014, when a proposal for a two-way peg between two different blockchains was first proposed in a public setting. Three years later, it appears that drivechains, which are a specific way of implementing sidechains, will be the way in which extensions for Bitcoin are rolled out. Sidechains remove the need for altcoins by allowing bitcoins to be effectively transferred from one blockchain to another. This means the bitcoin token can be used on any type of blockchain that bitcoin holders demand into existence.....

PSD2 Is ‘Headache For Everyone’ Despite ‘Opportunities’: RBS

PSD2 Is ‘Headache For Everyone’ Despite ‘Opportunities’: RBS

The European Union’s Advanced Payment Services Directive (PSD2) is a “headache for everyone” according to a UK bank spokesman. At Monday’s London Fintech Conference, Royal Bank of Scotland head of open banking and fintech solutions Alan Lockhart said that a “change of mindset” was needed from banks traditionally unwilling to embrace new thinking. Nevertheless, he said, the new rules, which come into force in 2018, presented “huge opportunities” for legacy institutions to get on board with ideas from innovative fintech startups. “One of the huge opportunities that is right on the doorstep....

Investors are Comfortable With Bitcoin, Ethereum: Hong Kong Experts

Investors are Comfortable With Bitcoin, Ethereum: Hong Kong Experts

Experts are starting to see a growth in the number of investors and investment firms that have become comfortable with Bitcoin and Ethereum, despite their recent volatility. In an interview with CNBC, experts including major Chinese bitcoin exchange BTCC CEO Bobby Lee and Dave Chapman, managing director of Hong Kong-based commodities and digital assets trading house Octagon Strategy, revealed that investors have become resilient toward the volatility of Bitcoin and Ethereum. Getting into mainstream. Chapman stated: "We're now sort of at ... a tipping point, where people are now considering....

Privacy Project TumbleBit Inches Closer to Release With Tor Integration and New Wallet

Privacy Project TumbleBit Inches Closer to Release With Tor Integration and New Wallet

TumbleBit is one of the most promising privacy-enhancing technologies being built on top of Bitcoin right now. It allows users to mix their coins fully anonymously, without requiring trust in any third party. An advanced version of the technology, which requires Segregated Witness, can even be utilized as a second-layer payment hub to reduce transaction costs and speed up confirmation times. After TumbleBit was first proposed in an academic paper and subsequently presented at the Scaling Bitcoin workshops in Milan, NBitcoin lead developer Nicolas Dorier built an early version of the....

Blockchain-Based Music Sharing Platform Aims At Putting Musicians At Helm, Announces Token Sale

Blockchain-Based Music Sharing Platform Aims At Putting Musicians At Helm, Announces Token Sale

Blockchain technology continues to find inroads into different areas of business and society, especially through the token crowdsale model. The latest company to announce a token sale is Musiconomi (MCI), the Blockchain-based music ecosystem. Musiconomi is the second startup to pass through the cofound.it system for startup ventures, and has already had some success with the Musicion Project, a cryptocurrency and beta music streaming and sharing platform. Musiconomi builds on this Blockchain platform using smart contracts in order to distribute music and provide payment to artists each....

Payment Provider Revolut Raises $66 mln, Adds Bitcoin, Other Crypto ‘Next Week’

Payment Provider Revolut Raises $66 mln, Adds Bitcoin, Other Crypto ‘Next Week’

UK-based payment provider Revolut has raised $66 mln in Series B funding to fund expansion into cryptocurrency exchange. Revolut, founded two years ago by ex-Credit Suisse trader Nikolay Storonsky, aims to compete with bank-issued credit and debit cards by offering multiple currencies and fee-free international transfers. “As early as next week,” Bloomberg reports, the startup aims to launch a feature allowing its users to “hold, exchange, spend and transfer virtual currencies such as Bitcoin, Litecoin and Ethereum for free.” “Adding cryptocurrencies and the ability to buy and sell them is....