Category Archives: Cryptocurrency
Definition of a Cryptocurrency Fork; Why Are They Necessary? – Coin Idol
Feb 09, 2020 at 10:19 // News
Forks are tools employed by blockchain and DLT networks to increase blockchain execution and run the protocol. These are generally distributed into Soft Fork and Hard Fork (hardfork).
A Soft Fork is realized and implemented by creating a modernized version of the DLT protocol compatible with earlier versions. The Soft Fork puts in place a reversible change that enables contribution in the DLT network even to all those nodes that for various reasons decide not to upgrade.
A Hard Fork introduces irreversible change and needs blockchain nodes to create the upgrade mandatorily. With Hard Fork, new cryptocurrencies are formed as in the past, for example, Bitcoin Cash (BCH) cases or zcash and Litecoin (LTC).
Hard Forks can be Planned and Scheduled, or Contentious, which means they can't find community consent.
Regarding Contentious hard forks, the proposed modification to the protocol does not reach an agreement within the community and with the Hardfork we come to a type of blockchain splitting. A Contentious Hard Fork leads to the establishment of a new coin.
Regarding planned Hard Forks, the protocol change is planned and the transition is approved by community participants. A Planned Hard Fork is not leading to the splitting of the DLT and the rules are rationalized in the formula of continuity.
The reasons which can lead to a Hardfork are different but can be summarized in some places:
One of the themes that leads the blockchain community to face a fork is scalability. For example, regarding the DLT net, the starting point is a DLT created to process transactions every ten minutes. A time closely associated with the amount of transactions and the number of users. In the second half of 2017 there was an exponential increase in registrations due to a very strong increase in the spread of the currency. This "demand" has also resulted in a slowdown in the time of consolidation of consolidation of blocks consolidation on the DLT.
And let's get to the Forks, which is the subject of the division between the developer family who want to maintain the traditional blockchain structure and developers who want to increase the volume of locks and transactions, trying to make the recordings faster. This contrast has generated some forks of the DLT and the emergence of new virtual currencies originating from Bitcoin blockchain (like BCH and BTC).
But it should not be forgotten that each new separation of the blockchain also determines the risk of a possible centralization in the running of the blockchain itself and thus of weakening the trust mechanism, that is, a trust that is directly proportional to the number of nodes in the DLT network.
If you assume that, for the Miner, the chances of winning the Proof of Work are directly proportional to the computing capacity you have, you notice that the Bitcoin blockchain is exposed to an imbalance risk in favor of those who may have greater computing power or, in other respects, can access more computing capacity at more affordable costs. In these cases, for example, the purpose of remediation is to define protocol-level innovations that will lower the importance of computing capacity in the resolution of Proof of Work, that is, by trying to reduce the risks of concentration of the Miners.
The subject of performance and scalability has always accompanied the development of blockchain tech. BTC's ability to process transactions compares to time limits of less than 10 transactions per second. Among the themes of the community is that we have a protocol that can improve these performances. Among the "streets" is to increase the block size, which is to double the amount of dealings in each block.
Interventions on the DLT protocol are also intended to run the DLT ecosystem, or the set of rules and balances that underlie the blockchain's own view. Among the themes is the controlling of the Forks itself and to the precision of the Hardforks that leading the community to face real splits poses a theme of protecting the overall value of the ecosystem and, directly, also a theme of shared rules, of distributed and shared governance for Bitcoin.
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Definition of a Cryptocurrency Fork; Why Are They Necessary? - Coin Idol
Three Reasons Why Bitcoin is Bearish, Explains Analyst – newsBTC
Bitcoin may have surged bombastically heading into 2020 but one analyst thinks the cryptocurrency is going to fall back.
Options trader Dyme said bitcoin is entering a perfect bearish setup, listing three converging negative indicators that hint a deep price retracement in the coming trading sessions. They are Rising Wedge, Bearish Divergence, and Overleveraged Longs.
Everything about [the setup] screams short, added Dyme.
In retrospect, each indicator typically leads to a price drop in an otherwise booming asset. Rising Wedge, for instance, appears if any asset trends upward, creating higher highs and higher lows, creating a conical pattern. But it breaks out to the downside upon reaching the apex of the diagram.
Bitcoin moving inside the red Rising Wedge pattern | Source: TradingView.com, Coinbase
In its decade-old existence, bitcoin has broken down from Rising Wedge patterns on several occasions. That allowed Dyme to predict a similar scenario in the current cryptocurrency uptrend.
Similarly, Bearish Divergence also predicts a potential reversal in a bull market. The formation occurs when an asset makes higher highs but its momentum indicator (such as a Relative Strength Index) makes lower highs.
On bitcoins daily chart, there is merely a hint of divergence, with the RSI tops almost leveled equally among each other. On lower timeframes, however, the momentum indicator is making lower highs against bitcoins higher high formations. It fits the description of a potential trend reversal.
A set of bitcoins trade statistics shows that the cryptocurrency might be overleveraged at this point in time. While Dyme merely mentioned it, his fellow analyst Cantering Clark gave evidence of risky Long positions in the market, citing its funding rate, open interest, and futures premium.
I think the market is likely due to punishing late longs soon, the analyst wrote Thursday. The market is likely very long right now, as it should be, with the trend.
Clark stated that the next pullback could cause a $700-1,000 drop in the bitcoin price, adding:
We havent seen any major divergences in delta overall toward this recent high. If anything, I suspect a roll over / fall under own weight i.e. Cascade of stops and liquidations.
Alex Krger, a prominent market analyst, also noticed a pullback pattern brewing on BitMEX. He found that the funding rate on the derivatives platform had lately touched 0.12 percent that historically sends the bitcoin prices lower.
Source: Alex Krger
The boxplot shows what happens with bitcoins price when Bitmex funding reaches levels as extreme as todays, said Krger. Bitmex funding can be used as a proxy for traders positioning. The mean return after 5 days has been -7%.
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Three Reasons Why Bitcoin is Bearish, Explains Analyst - newsBTC
Wendy McElroy: The Narrative and Philosophy of Cryptocurrency – Bitcoin News
The central banks of Britain, Japan, the euro zone, Sweden and Switzerland have grouped up to assess potential use cases for digital currencies. Talk of such currencies gained momentum after Facebook announced plans last year to introduce a cryptocurrency called libra, CNBC. In the light of such developments, it is evident that those who view crypto as an engine of freedom are losing control of the narrative.
Also read: Why User Experience Is Cryptos True Killer App
The narrative is an important concept because those who command the narrative are most likely to determine the outcome. Once closely associated with political correctness, the term has gone mainstream in recent years. The narrative is the story of somethingan issue, an ideabut it is more than merely relating the facts of a matter. In postmodern philosophy, from which political correctness draws heavily, the narrative creates reality; it creates the facts. The dominant story becomes the culture and the truth of a society. In other words, the narrative defines reality, not vice versa. This is one reason why the left is so preoccupied with the control of words and ideas; words and ideas control reality itself.
Most people use the narrative in a more casual way to mean a story that takes a specific approach or tone. Left-wing and right-wing narratives war with each other on issues, for example. Nevertheless, the term retains some of its original meaning. Giving context and interpretation to an issue does define what people view as true about it. In turn, the general publics perception does influence the events or facts that follow, especially in the absence of a competing narrative. This is why states censor: they want to eliminate competing truths.
This process applies to crypto, including the blockchain. The narrative of freedom can define the outcome. When it becomes effective at doing so, censorship is likely; at the moment, there is no need. Again, those to whom crypto is an engine of freedom are losing control of the narrative. Few things are as important to the future of crypto than to reclaim Bitcoins original vision of financial freedom from what is becoming the dominant context and interpretation: statism.
Happily, freedom enjoys a distinct advantage. The mechanics of crypto favor it strongly. Cryptos decentralization gives economic power to the average person who transfers wealth around the globe at will, requiring only the protection of solid encryption. And, yet, the state could win; some believe it already has.
Crypto needs a powerful competing narrative of freedom. It needs to remember its roots. Much more than financial freedom is at stake: every other freedom rests upon the ability of people to control their own wealth. Every time some aspect of free-market crypto is explored, such a narrative expands and users move closer to independence.
The first step in establishing a narrative of freedom is to reject the claim that crypto is simply another investment or money-making tool. Certainly, this is one function of crypto. And for some people, it may be the only function. But this is a comment upon their psychology or motives, not upon the inherent nature of crypto which exists as a thing apart. The claim is also dangerous; it opens the door to state control because the vast majority of financial institutions are now under its authority in one form or another and using them tends to legitimize their existence. This is a story that needs to change.
By far, the best freedom narrative for crypto is the truth because it withstands scrutiny and has the practical advantage of being backed by reality. The best approach to this narrative is to state the basics of crypto, simply and clearly. And then aggressively build upon them.
Crypto is usually discussed in economic, political, or technical terms. But Aristotle claimed that all things are philosophical. That is, the foundation of everything, including technology, is philosophical because philosophy asks the most fundamental questions about a thing.
Philosophy is not arcane or elite. Classical Greek philosophy used to serve the same function that psychology does today; it taught the principles of how to live a better life. Philosophy can be broken into three broad categories: metaphysics, epistemology, and ethics. Metaphysics deals with the first principles or nature of reality and the relationship between what exists, including abstractions. Epistemology is the theory of human knowledge, especially its acquisition, validation, and scope. Ethics is the branch of knowledge that addresses the moral principles governing behavior. Three questions capture the relationship between these categories. What exists? How do I know it? So what?
The Philosophy of Crypto is a book-length project but a brief glimpse of it can be garnered by loosely applying the three categories of philosophy to crypto.
Metaphysics. Metaphysics arises every time someone accuses crypto of not being real because it is based on nothing. This is a metaphysical attack as much as an economic or political one.
These days, the accusation is not generally hurled at the blockchain which has been widely adopted by businesses and states. The blockchains elegant efficiency means that it will continue to spread into every corner of life. And useful things automatically acquire the status of real.
The second half of cryptothe coinsis a different matter. Crypto without physical backing, such as gold or a basket of fiat currencies, is often called unreal. Clearly, this claim is untrue. At its root, crypto is an algorithma string of computer commands that produce a result. In this case, the result is a coin that is accepted as a medium of exchange. Whether or not people credit it as valid money, crypto is definitely real. As with fiat, its value is based upon peoples acceptance of it. Unlike fiat, the acceptance does not have to be coerced.
In his essay Bitcoin Equals Freedom, Ross Ulbricht pointed to another value upon which the something of crypto is basedfreedom from financial authorities, especially from central banks.
It is like magic that Bitcoin could somehow come from nothing, and without prior value or authoritative decree, become money. But Bitcoin did not appear in a vacuum. It was a solution to a problem cryptographers had been struggling with for many years: How to create digital money with no central authority that couldnt be forged and could be trusted.
Epistemology. What does truth mean in crypto, and how do human beings know it? The truth of crypto and the blockchain is that they work. The better they function, the truer they become. Human beings know when crypto and the blockchain are true because they work. Every time the blockchain delivers and preserves information, it is akin to a proof of principle.
Ethics. The so what? of crypto is contained within its structure. Which is to say, the ethics of crypto is an extension of its reality (metaphysics) and how its truth works (epistemology). Crypto is inherently decentralized and entirely voluntary. More than this, the blockchain cannot be centralized and controlled by a single hand or authority, and no one can be forced to use it. Free-market crypto is controlled by individual users who agree to exchange and co-operate to mutual advantage. It is a pure expression of non-violence. This is its ethical basis.
The only way to introduce violence is through crime, such as hacking a wallet. Overwhelmingly, the crime introduced is state control; even then, however, the state cannot impose its will on the blockchain, only on the people who use it. These people need to understand the narrative of freedom.
Ulbrichts article concludes, The promise of freedom and the allure of destiny energized the early community. Bitcoin was consciously, yet spontaneously taken up as money while no one was watching, and our world will never be the same.
Bitcoin was created to fulfill a promise of freedom and the allure of destiny. It was forged by cryptographers who did not know it would become a popular currency and investment. Its worth as money should never be denigrated, but those who view crypto only as money are missing the point. The narrative of freedom must do a better job of explaining.
Op-ed disclaimer: This is an Op-ed article. The opinions expressed in this article are the authors own. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the Op-ed article. Readers should do their own due diligence before taking any actions related to the content. 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 information in this Op-ed article.
Images courtesy of Shutterstock.
Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see whats happening in the industry.
Wendy McElroy is a Canadian individualist anarchist and individualist feminist. She was a co-founder of the Voluntaryist magazine and modern movement in 1982, and has authored over a dozen books, scripted dozens of documentaries, worked several years for FOX News and written hundreds of articles in periodicals ranging from scholarly journals to Penthouse. She has been a vocal defender of WikiLeaks and its head Julian Assange.
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Wendy McElroy: The Narrative and Philosophy of Cryptocurrency - Bitcoin News
Keene Solidifies Position as Global Leader in Cryptocurrency Acceptance with Three More Businesses Onboard in January! – Free Keene
by Ian | Feb 7, 2020 | Bitcoin, Bitcoin (BTC), Bitcoin Cash, Cool, Cryptocurrency, DASH, Economic Freedom, International, News, Update |
Anypaymap.com shows the most active crypto-accepting businesses in the area.
With her new business, EuPHOria, the founding chef of Keenes Pho Keene Great, Isabelle Rose, has struck out on her own and is now regularly meeting customers in Keene with hot Vietnamese food cooked-to-order. Another recent addition is Pure Bliss Clean, a professional cleaning service that handles home and small businesses. Also, Kenzy Dietz of KD Prestige Detailing recently won Monadnock Cryptos radio giveaway contest on 92.7 Bratt FM and decided to set up Anypay Cash Register shortly thereafter. Dietz had already been introduced to cryptocurrency by someone close to her and was elated to be the winner of the $500-worth-of-crypto giveaway. When asked what her reasons were for accepting cryptocurrency at her car detailing business, Dietz said, Cryptocurrency is the currency of the future, so I am delighted to be a local business that accepts it as payment. Not only is it easy to accept, but its a great way to broaden my businesses acceptance of alternatives to paying with just cash, checks, or debit. The future is coming.
You can read the full article over on the Monadnock Crypto blog here.
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Keene Solidifies Position as Global Leader in Cryptocurrency Acceptance with Three More Businesses Onboard in January! - Free Keene
Samsung and Salesforce invest in cryptocurrency company – Decrypt
Two major venture capitalsSamsung Venture Investment Corp (SVIC) and Salesforce Ventures (SV)have backed Digital Asset, creator of the smart contract language DAML, in the second closing of its Series C funding round.
The two prominent VCs led the second round of financing, pledging an undisclosed amount of capital. SVICthe investment arm of tech conglomerate, Samsung typically invests in future centric business models, boasting a current $2.2 billion under management.
"We strongly believe that Digital Asset's model to embed DAML in partner platforms fundamentally changes the entire blockchain market," said an SVIC spokesperson.
Samsung's home in San Jose, California. Image: Shutterstock.
According to a Digital Asset press release, the funds will be used to "enhance the DAML developer experience" and further the adoption of the DAML smart contract language across a range of industries.
In its first funding round back in December, the blockchain startup managed to net $35 million. The initial Series C round observed investments from such finance monoliths as Goldman Sachs, Citigroup, JP Morgan, as well as Jefferson River Capital and the Australian Securities Exchange (ASX).
Beyond another successful funding round, the firm highlights the addition of Susan Hausera 28-year Microsoft veteran and advisor to Digital Assetto the company's board of directors.
"During my time as an advisor to Digital Asset, I quickly learned how transformative smart contracts could be for a variety of use cases and across industries. We are going to see adoption of smart contractsand languages like DAMLtake off in the near future," noted Hauser.
Digital Asset tasks itself with instilling the DAML smart contract technology into its partner's product offerings. Since being founded back in 2014, The firm has partnered with a variety of high-level businesses, including alliances with Hyperledger Sawtooth, Hyperledger Fabric, Corda, and Amazon's QLDB.
With a fresh bout of funding, Digital Asset's goal of generating critical mass for smart contract language may soon come to fruition.
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Samsung and Salesforce invest in cryptocurrency company - Decrypt
USA Is Looking Closely To Launching Its Own Cryptocurrency, According To Fed Governor Lael Brainard – CryptoPotato
The U.S. Federal Reserve is experimenting with blockchain technology to establish potential use cases for a central bank digital currency (CBDC). Feds Governor Lael Brainard said this in a recent speech, but she also noted that risks still exist, and they have to be addressed before launching a digital currency.
As reported by Reuters, Federal Reserve Governor Lael Brainard recently mentioned the countrys potential involvement in central bank digital currencies, or CBDCs. According to her, the U.S. central bank is researching the feasibility of issuing a digital currency.
We are conducting research and experimentation related to distributed ledger technologies and their potential use case for digital currencies, including the potential for a CBDC.
We are collaborating with other central banks as we advance our understanding for central bank digital currencies.
Cryptopotato recently reported that a survey from the Bank of International Settlements (BIS) regarding the emerging trend of CBDCs. The findings were that 80% of all participating banks are working on launching their own digital currency.
Brainard also noted the extreme competition in the field and added that there are a set of reasons to also be making sure that we are the frontier of both research and policy development.
Interestingly enough, less than two years ago, Brainard appeared extremely against the idea of launching a CBDC. Aside from all regulatory hurdles that she mentioned, Feds Governor also indicated that there is no compelling demonstrated need for a Fed-issued digital currency.
Now, though, the situation has changed dramatically as she referred to Facebooks plans to launch its own cryptocurrency Libra. Brainard said that ever since it was announced last year, it brought imparted urgency around the digital currency topic.
The Governor believes that projects similar to Libra could deliver additional risks, which need to be addressed before the product is live:
Some of the new players are outside the financial systems regulatory guardrails, and their new currencies could pose challenges in areas such as illicit finance, privacy, financial stability, and monetary policy transmission. according to Brainard.
Ultimately, she seemed more optimistic regarding the positive benefits of digital currencies, and concluded that by transforming payments, digitization has the potential to deliver greater value and convenience at a lower cost. Despite Facebook intentions, the Libra project may not come alive, according to Facebook itself.
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USA Is Looking Closely To Launching Its Own Cryptocurrency, According To Fed Governor Lael Brainard - CryptoPotato
Cryptocurrency Market Update: The tug of war begins as Bitcoin and altcoins consolidate – FXStreet
The digital asset market is sending mostly bearish signals on the second day of trading this week. Bitcoin has slowed down the uptrend; so have the altcoins. Some of the previous biggest gainers such as IOTA, Bitcoin Gold and Ethereum Classic are correcting lower 0.82%, 3.78% and 0.58% in that order.
All of the top three cryptocurrencies Bitcoin, Ethereum and Ripple are struggling to shake off the bear pressure. Only selected cryptoassets are slightly in the green including Bitcoin Cash at 0.15% higher and NEO at 0.18 higher on the day.
The crypto markets total cap has dropped by $3 billion from $261 billion on Mon day to $258 billion at the time of writing. CoinMarketCap data shows a total 24-hour trading volume of $103 billion. Bitcoin is still by far the largest crypto by market capitalization. It has a 65.3% dominance in the market after dropping significantly in January amid growth in the altcoins park.
Bitcoin is struggling to hold the price above $9,200 and maintain the consolidation movements until a breakout is made possible. However, the bears are increasing the intensity of the tug of war, with their aim at $9,000. Upward corrections have become increasingly difficult especially after Bitcoin bulls failed to sustain gains above $9,600.
Ethereum's tug of war between the bulls and thebears is gaining traction fast. Will it be $200 or $170?. The price is teetering at $188 after adjusting from an intraday low of $187. The short term trend has a bullish bias but the shrinking volatility signals that upward movement could still be limited.
Ripple price is the most bullish compared to Bitcoin and Ethereum. The bulls are working hard to correct the 1% loss suffered on Tuesday. Also, theirmain mission is to keep the price above $0.25. Previous attempts to correct above $0.26 have been futile. If the support at $0.25 gives in to the selling pressure, XRP could spiral to test support at $0.24 and $0.23, respectively.
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Cryptocurrency Market Update: The tug of war begins as Bitcoin and altcoins consolidate - FXStreet
As Bitcoin Fails To Break Out, This Minor Cryptocurrency Has Surged By 400% – Forbes
Bitcoin has struggled to break back over the psychological $10,000 mark in recent weeks but not all cryptocurrencies are treading water, with top 15 token tezos soaringthough some think bitcoin could be about to "explode."
While bitcoin, the world's original and most valuable cryptocurrency, has risen almost three-fold over the last 12 months, tezos has rallied some 400%climbing from under $0.40 per tezos token in February 2019 to just over $2 today.
Bitcoin has failed to move much above its recent highs, falling back after surging higher over the ... [+] weekend. Tezos has, meanwhile, continued to climb.
Tezos, trading as XTZ, has risen by 10% over the last 24-hour trading period, taking its year-to-date gains to almost 50% and giving it a market capitalization of around $1.4 billion.
At the beginning of the year, tezos was the 15th most valuable cryptocurrency by market capitalization, according to CoinMarketCap data, but has now climbed to 11thand is in touching distance of the top ten.
Tezos, which styles itself as a "self-amending cryptographic ledger" and uses the so-called proof of stake consensus model, has emerged as a favourite blockchain and cryptocurrency for tokenized real-estate and security tokens.
Tezos holders, if their funds are stored in certain wallets, can "stake" their XTZ and receive additional tokens as a reward for creating and verifying new blocks in the chain.
The tezos rally, which began in November last year, has been pushed on by major partnerships with the financial world and the so-called Tezos Foundations Faucet, that awards users up to 0.01 XTZ every 12 hours.
Last year, Brazil's BTG Pactual bank and Dalma Capital, a Dubai-based asset manager, announced they would use the tezos blockchain for security tokens. Meanwhile, Elevated Returns said it would use tezos to tokenize its real estate in Aspen.
The tezos price has outperformed bitcoin and most other cryptocurrencies over the last 12-months.
Tezos XTZ tokens began trading in late 2017 at the height of global bitcoin and crypto mania after the Switzerland-based non-profit Tezos Foundation raised $232 million in an initial coin offering.
At its peak, tezos was worth a little over $10 per XTZ token but lost over 95% of its value throughout the dire so-called crypto winter of 2018-2019.
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As Bitcoin Fails To Break Out, This Minor Cryptocurrency Has Surged By 400% - Forbes
This is not cool: Elon Musk attacks Twitter over impersonators scamming bitcoin from followers – The Independent
Elon Musk has raised concerns about the "dire problem" of cryptocurrency scams on Twitter.
The Tesla CEO has been consistently targeted by scammers in recent years, who use fake accounts toimpersonate him and trick people into sending them cryptocurrencies like bitcoin and ethereum.
Scams typically involve fake accounts holding "giveaways", which require people to send cryptocurrency to a digital address in order to receive a greater amount in return.
Sharing the full story, not just the headlines
Analysis byThe Independentin 2018 found that more than 400 people sent thousands of dollars worth of cryptocurrency to scammers, however Musk claims the problem is even worse now.
"The crypto scam level on Twitter is reaching new levels. This is not cool," he tweeted to his 31 million followers. "Troll/ bot networks on Twitter are a dire problem for adversely affecting public discourse and ripping people off."
On 3 January, 2009, the genesis block of bitcoin appeared. It came less than a year after the pseudonymous creator Satoshi Nakamoto detailed the cryptocurrency in a paper titled 'Bitcoin: A peer-to-Peer Electronic Cash System'
Reuters
On 22 May, 2010, the first ever real-world bitcoin transaction took place. Lazlo Hanyecz bought two pizzas for 10,000 bitcoins the equivalent of $90 million at today's prices
Lazlo Hanyecz
Bitcoin soon gained notoriety for its use on the dark web. The Silk Road marketplace, established in 2011, was the first of hundreds of sites to offer illegal drugs and services in exchange for bitcoin
On 29 October, 2013, the first ever bitcoin ATM was installed in a coffee shop in Vancouver, Canada. The machine allowed people to exchange bitcoins for cash
REUTERS/Dimitris Michalakis
The world's biggest bitcoin exchange, MtGox, filed for bankruptcy in February 2014 after losing almost 750,000 of its customers bitcoins. At the time, this was around 7 per cent of all bitcoins and the market inevitably crashed
Getty Images
In 2015, Australian police raided the home of Craig Wright after the entrepreneur claimed he was Satoshi Nakamoto. He later rescinded the claim
Getty Images
On 1 August, 2017, an unresolvable dispute within the bitcoin community saw the network split. The fork of bitcoin's underlying blockchain technology spawned a new cryptocurrency: Bitcoin cash
REUTERS
Towards the end of 2017, the price of bitcoin surged to almost $20,000. This represented a 1,300 per cent increase from its price at the start of the year
Reuters
On 3 January, 2009, the genesis block of bitcoin appeared. It came less than a year after the pseudonymous creator Satoshi Nakamoto detailed the cryptocurrency in a paper titled 'Bitcoin: A peer-to-Peer Electronic Cash System'
Reuters
On 22 May, 2010, the first ever real-world bitcoin transaction took place. Lazlo Hanyecz bought two pizzas for 10,000 bitcoins the equivalent of $90 million at today's prices
Lazlo Hanyecz
Bitcoin soon gained notoriety for its use on the dark web. The Silk Road marketplace, established in 2011, was the first of hundreds of sites to offer illegal drugs and services in exchange for bitcoin
On 29 October, 2013, the first ever bitcoin ATM was installed in a coffee shop in Vancouver, Canada. The machine allowed people to exchange bitcoins for cash
REUTERS/Dimitris Michalakis
The world's biggest bitcoin exchange, MtGox, filed for bankruptcy in February 2014 after losing almost 750,000 of its customers bitcoins. At the time, this was around 7 per cent of all bitcoins and the market inevitably crashed
Getty Images
In 2015, Australian police raided the home of Craig Wright after the entrepreneur claimed he was Satoshi Nakamoto. He later rescinded the claim
Getty Images
On 1 August, 2017, an unresolvable dispute within the bitcoin community saw the network split. The fork of bitcoin's underlying blockchain technology spawned a new cryptocurrency: Bitcoin cash
REUTERS
Towards the end of 2017, the price of bitcoin surged to almost $20,000. This represented a 1,300 per cent increase from its price at the start of the year
Reuters
He urged followers to report any suspicious activity as soon as they see it in order to prevent people from falling for the scams.
Twitter could also take lessons from Google, he suggested, by dropping the prominence of malicious accounts.
"Trolls/ bots just need to be deemphasized relative to probably real people who aren't being paid to push an agenda or scam," he wrote. "Google still shows bs/ scam pages, they're just several clicks away."
The issue was raised at a recent employee conference at Twitter, when Elon Musk appeared via video link to respond to Jack Dorsey'squestion about how to improve the platform.
Musk said it would be helpful to differentiate between real and fake users in order to protect the integrity of Twitter and restore trust in its users.
"Basically, how do you tell if the feedback is real or someone trying to manipulate the system, or probably real, or probably trying to manipulate the system," he said.
"What do people actually want, what are people actually upset about versus manipulation of the system by various interest groups."
Musk is not the only high-profile Twitter user to be targeted by such scams, with many figures within the cryptocurrency community also impersonated.
The founder of ethereum, VitalikButerin, has consistently called on Twitter to come up with a solution, as well as cryptocurrency advocate John McAfee.
Twitter has rules in place to prevent its users from being impersonated and claims to have cracked down on scams by implementing various tools.
"We're constantly adapting to bad actors evolving methods, and have made improvements in combating cryptocurrency scams on the platform," a spokesperson toldThe Independent.
"If we see content that is violative of our Financial Scams Policy we take action. We will continue to iterate and improve upon this policy and the industry evolves."
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This is not cool: Elon Musk attacks Twitter over impersonators scamming bitcoin from followers - The Independent
CQG Partners with DVeX to Offer Front-End Platforms to New Cryptocurrency Exchange – PRNewswire
CHICAGOand DENVER, Feb. 4, 2020 /PRNewswire/ -- CQG, a leading global provider of high-performance technology solutions for traders, brokers, commercial hedgers, and exchanges, today announced the establishment of a partnership with DVeX, a new cryptocurrency exchange built by and for institutional traders. The firms have collaborated to offer CQG front-end platforms to DVeX clients for cutting-edge trading tools and analytics, effective immediately.
Created by the founders of DV Trading, DVeX was designed to deliver a world-class institutional cryptocurrency trading platform to meet the demands of professional traders by leveraging decades of experience as market makers and liquidity providers on traditional exchanges.
Dino Verbrugge, Founder, DV Group,said: "The DV team is excited to announce our partnership with CQG, which will enable DV to advance our vision of creating a true institutional trading environment for crypto assets. DVeX is now integrated with CQG's platform, streaming live, reliable and actionable cryptocurrency prices directly to CQG's clients, who will now be able to add DVeX as an additional venue to transact cryptocurrencies just as they would any other exchange."
Alli Brennan, CQG Chief of Staff, said: "CQG's suite of trading products, along with our connectivity to futures exchanges listing cryptocurrencies, gives DVeX customers consolidated access to more trade opportunities and the tools they need to make smart decisions. We're excited to partner with DVeX to reach new institutional crypto traders and offer an exciting opportunity to our existing network of customers who will have access to this important new marketplace."
About CQG:
CQGprovides the industry's highest performing solutions for traders, brokers, commercial hedgers, and exchanges for their market-related activities globally, including trading, market data, advanced technical analysis, risk management, and account administration. The firm partners with the vast majority of futures brokerage and clearing firms and provides Direct Market Access (DMA) to more than 45 exchanges through its global network of co-located Hosted Exchange Gateways. CQG technology serves as the front end for a variety of exchanges, and the firm's technology is increasingly employed as the over-the-counter matching engine for important new markets. CQG's server-side order management tools for spreading, market aggregation, and smart orders are unsurpassed for speed and ease of use. Its market data feed consolidates 85 sources, including exchanges worldwide for futures, options, fixed income, foreign exchange, and equities, as well as data on debt securities, industry reports, and financial indices. One of the longest-serving technology solutions providers in the industry, CQG is celebrating its 40th anniversary in 2020. CQG has received the Prop Traders' ISV of the Year award from FOW (now Global Investor Group), the Best Technical Analysis Platform award from The Technical Analyst, and the Best Product for Traders award from Finance Magnates for its multi-asset trading platform. CQG is headquartered in Denver, Colorado, with 16 sales and support offices and data centers in key markets globally.
About DVeX:
Created by the founders of DV Trading, DVeX is a cryptocurrency exchange built for professional trading firms. Clients can access DVeX and trade multiple physical cryptocurrency pairs denominated in multiple fiat currencies using traditional trading applications, connect directly via its FIX or REST API, or simply use the DVeX Pro trading application. Physical delivery and custody is provided by a trusted independent custodian ensuring the segregation and safety of clients' assets. Clients can also lend their assets or borrow additional assets with other clients on the DVeX platform knowing that their assets are tracked and physically stored and maintained with the same independent custodian.
For more information on DVeX, please visitdvex.ioor send an email to info@dvex.io.
SOURCE CQG
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CQG Partners with DVeX to Offer Front-End Platforms to New Cryptocurrency Exchange - PRNewswire