Category Archives: Cryptocurrency
Cointal Revolutionizes P2P Cryptocurrency Trading – CryptoCoinsNews
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Cryptocurrency is revolutionary because it eliminates the need for centralized financial institutions like banks. All you need is an Internet connection to send or receive payments from across the world. However, eventually you need to trade one cryptocurrency for another or sell your coins for cash. Unfortunately, this forces most crypto users back onto centralized cryptocurrency exchanges where they must live in constant fear that their coins will fall prey to hackers or excessive fees.
Sure, peer-to-peer marketplaces exist, but they have very limited functionality and offer users almost no security. To make matters worse, these P2P exchanges only support one or two cryptocurrencies, making them useless for people who like to maintain a diverse portfolio. Thankfully, this is about to change.
Cointal plans to revolutionize the digital currency ecosystem by developing the first multi-cryptocurrency P2P marketplace. When the platform launches, users will be able to buy, sell, and trade Bitcoin, Ethereum, Litecoin, and Ripple directly with almost any payment method imaginable, including cash, credit/debit card, gift card, PayPal, Western Union, and bank transfer.
The Cointal marketplace is incredibly simple to use, making it perfect for beginning and advanced crypto users alike. The platformwhich includes an all-in-one wallet secured by BitGois completely free for buyers, and sellers only have to pay a 1% fee to sell their coins. Recognizing that traders need to be able to access the platform even when they arent in front of a computer, they have made sure the platform is compatible with smartphones and tablets.
By early 2018, they anticipate that their platform will expand to support at least 10 cryptocurrencies, with even more being added in the future to meet their users needs.
Cointal has also worked hard to make their platform a social gathering place, enabling a 24/7 social chatbox, private messaging, and forums. Moreover, all users will benefit from the affiliate program, which provides them with passive income as a reward for telling others about Cointal.
One thing that scares many people away from P2P marketplaces is a fear of scams. You dont have to worry about that with Cointal because they offer escrow, user feedback, and a secure anti-hacking platform that features two-factor authentication. Moreover, they provide free insurance to all users; if anyone does suffer from a scam, the Cointal team will immediately issue them a refund.
Cointal wants to reward early adopters, so they are offering the first 5,000 people who pre-registered a myriad of benefits:
These benefits were originally intended for the first 1,000 pre-registrants, but those spots were taken so quickly that Cointal graciously extended it so others can have an opportunity to obtain these features.
The Cointal P2P marketplace is launching soon, so pre-register today to secure your early adopter advantages on this revolutionary platform. Finally, you have access to a multi-cryptocurrency P2P marketplace where you can buy Bitcoin, Ethereum, Ripple, and Litecoin, directly with cash. For more information, visit the Cointal website or follow the team on Twitter and Facebook.
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Cointal Revolutionizes P2P Cryptocurrency Trading - CryptoCoinsNews
Whoppercoin is a cryptocurrency you can eat or trade – The Verge
Have you ever wanted to trade something fun, rather than boring stuff like oil, iron ore, or shares? Maybe something like burgers? Now you can kind of. Burger King in Russia has just announced a new loyalty program using virtual coins called Whoppercoins, which is hosted on the Waves blockchain platform. Waves allows users to swap and trade blockchain tokens which have an inherent value on a peer-to-peer exchange.
A supply of 1 billion Whoppercoins have been issued so far, and customers will receive one Whoppercoin for every ruble spent ($1 is 59 RUB). They can redeem one Whopper burger with 1,700 Whoppercoins, which are stored in a digital wallet. While the Whopper cryptocurrency is a bit of a gimmick, customers can still trade and transfer the coins, just like any other cryptocurrency.
Whoppercoin even has its own dedicated asset page, which describes it as a token for buying burgers in Russian Burger King and for the stock exchange. Burger King Russia says it will release an app for the program in the Apple Store and Google Play in September.
Now Whopper is not only burger that people in 90 different countries love its an investment tool as well, Ivan Shestov, head of external communications at Burger King Russia said in a statement. While Shestov saying eating Whoppers now is a strategy for financial prosperity tomorrow, may be a bit of a stretch, free burgers is something Ill always put my hand up for.
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Whoppercoin is a cryptocurrency you can eat or trade - The Verge
$160 Billion: Cryptocurrency Market Sets New All-Time High … – CoinDesk
Investment in cryptocurrencies continues to increase.
Spurred by increases in investment, the total value of the more than 800 publicly traded cryptocurrencies and crypto assets pushed past $160 billion for the first time ever, according to data provider CoinMarketCap.
With the move, the figure is now up 1,500 percent from the $10 billion observed at the start of the year.
Notably, the new high was set even as bitcoin, the market's largest asset, continued its recent pattern of sideways trading, hovering in the $4,400-range, or about 1% below its all time high of $4,522.13 on the CoinDesk Bitcoin Price Index (BPI).
Similar, ether and bitcoin were mostly flat on the day's trading.
At press time, it seemed most of the growth in the top 10 cryptocurrencies was consolidated to two assets, with Ripple's XRP token and monero's XMR token rising 9% and 7.9%, respectively, over the last 24 hours.
On XMR's increase, the asset regained a spot in the top 10 cryptocurrencies by market capitalization after some time out of the spotlight.
Elsewhere, investment in litecoin appeared to cool after it set all-time highs earlier in the day's trading. After rising past $60 for the first time since the protocol was introduced in 2011, the token was down nearly 2%.
Ruler image via Shutterstock
The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at [emailprotected].
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$160 Billion: Cryptocurrency Market Sets New All-Time High ... - CoinDesk
Learn about cryptocurrency mining with this interactive blockchain demo – TNW
In order to understand cryptocurrency youll need to grasp the fundamentals of blockchain. Luckily, someone made an interactive tutorial that not only explains the idea, but walks users through mining valid hashes with their CPUs.
Blockchain Demo overcomes part of the learning curve by showing you exactly what mining looks like. Its a creative way to adapt a useless form of mining for educational purposes. Youll need hardware like a miner a computer built for the job if you want to make any actual money.
Were past the days of adapting an old computer for the job, entry-level units have six GPUs. The bare-bones miner costs about $300, but considering many manufacturers have a minimum order amount, sometimes in the range of 100 units, this isnt a weekend hobby.
Credit: Blockchain Demo
Blockchain Demos creator,Sean Han, explained his project on Product Hunt:
Blockchain Demo is my attempt at demystifying the technology behind cryptocurrencies. It has a living blockchain, a peer-to-peer network, and a user tour.
Hans tool guides you through the process of mining a block using the same type of ledger technology powering Bitcoin.
For a deeper dive into the concept, you can also check out the inspiration for Blockchain Demo in this video by Anders.
Read next: This t-shirt subscription box is the epitome of startup fetishism
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Learn about cryptocurrency mining with this interactive blockchain demo - TNW
Central Banks Can’t Ignore the Cryptocurrency Boom – Bloomberg
When the cryptocurrency Exio Coin starts a round of fundraising on Sept. 7, its founders say the unit will come with a unique distinction: the first to be endorsed by a sovereign nation.
The identity of the government backer wont be revealed until October,and Bloomberg News has no way of verifying the claim of support.According to co-founder Sunny Johnson though, the supporter is one of "the worlds richest countries" on a per capita basis.
The claim of official approval highlights how the boom in cryptocurrencies and their underlying technology is becoming too big for central banks, long the guardian of official money, to ignore. From speculative betting to trading solar power, digital money is proliferating.
Until recently, officials at major central banks were happy to watch as pioneers in the field progressed by trial and error, safe in the knowledge that it was dwarfed by roughly $5 trillion circulating daily in conventional currency markets. But now as officials turn an eye toward the increasingly pervasive technology, the risk is that theyre reacting too late to both the pitfalls and the opportunities presented by digital coinage.
"Central banks cannot afford to treat cyber currencies as toys to play with in a sand box," said Andrew Sheng, chief adviser to the China Banking Regulatory Commission and Distinguished Fellow of the Asia Global Institute, University of Hong Kong. "It is time to realize that they are the real barbarians at the gate."
Bitcoin -- the largest and best-known digital currency -- and its peers pose a threat to the established money system by effectively circumventing it. Money as we know it depends on the authority of the state for credibility, with central banks typically managing its price and/or quantity. Cryptocurrencies skirt all that and instead rely on their supposedly unhackable technology to guarantee value.
If they dont get a handle on bitcoin and their ilk,and more people adopt them, central banks could see an erosion of their control over the money supply. The solution may be in the old adage, if you cant beat them, join them.
The Peoples Bank of China has done trial runs of its prototype cryptocurrency, taking it a step closer to being the first major central bank to issue digital money. The Bank of Japan and the European Central Bank have launched a joint research project which studies the possible use of distributed ledger -- the technology that underpins cryptocurrencies -- for market infrastructure.
Read more about Chinas digital currency efforts.
The Dutch central bank has created its own cryptocurrency -- for internal circulation only -- to better understand how it works. And Ben Bernanke, the former chairman of the Federal Reserve who has said digital currencies show "long term promise," will be the keynote speaker at a blockchain and banking conference in October hosted by Ripple, the startup behind the fourth largest digital currency.
Russia, too, has shown interest in ethereum, the second-largest digital currency, with the central bank deploying a blockchain pilot program.
In the U.S., both banks and regulators are studying distributed ledger technology and Fed officials have made a couple of formal speeches on the topic in the past 12 months, but have voiced reservations about digital currencies themselves.
Fed Governor Jerome Powell said in March there were significant policy issues concerning them that needed further study, including vulnerability to cyber-attack, privacy and counterfeiting. He also cautioned that a central bank digital currency could stifle innovations to improve the existing payments system.
At the same time, central bankers are obviously wary of the risks posed by alternative currencies -- including financial instability and fraud. One example: The Tokyo-based Mt. Gox exchange collapsed spectacularly in 2014 after disclosing that it lost hundreds of millions of dollars worth of bitcoin.
But for all their theoretical tinkering, official-money guardians have largely stood by as digital currencies have taken off. The explosion in initial coin offerings, or ICOs, is evidence. Investors have poured hundreds of millions of dollars into the digital currency market this year alone.
The dollar value of the 20 biggest cryptocurrencies is around $150 billion, according to data from Coinmarketcap.com. Bitcoin itself has soared more than 380 percent this year and hit a record -- but its also prone to wild swings, like a 50 percent slump at the end of 2013.
"At a global level, there is an urgent need for regulatory clarity given the growth of the market,"said Daniel Heller, Visiting Fellow at the Peterson Institute for International Economics and previously head of financial stability at the Swiss National Bank.
Rather than trying to regulate the world of virtual currencies, central banks are mainly warning of risks and attempting to garner some advantage from distributed-ledger technology for their own purposes, like upgrading payments systems.
Carl-Ludwig Thiele, a board member of Germanys Bundesbank, has described bitcoin as a niche phenomenon but blockchain as far more interesting, if it can be adapted for central-bank use. In July, Austrias Ewald Nowotny said the hes open to new technologies but doesnt believe that will lead to a new currency, and that dealing in bitcoin is effectively gambling.
There could also be a monetary policy aspect to consider. ECB Governing Council member Jan Smets said in December that a central-bank digital currency could give policy makers more leeway when interest rates are negative. Policy makers have long been concerned that if they cut rates too low, people will simply hoard cash. The ECBs deposit rate is currently minus 0.4 percent.
Other central banks see the uses of distributed ledger technology, but worry about the abuses virtual money can be put to outside the official system -- like criminal money laundering and the sale of illegal goods. Thats not to mention the risk that virtual currencies could pose to the rest of the financial system if the bubble were to pop.
Bank of England Governor Mark Carney -- who has said blockchain shows great promise -- also warned regulators this year to keep on top of developments in financial technology if they want to avoid a 2008-style crisis.
While Mt. Gox cast a shadow over bitcoin in Japan, it now has many supporters in the worlds third-biggest economy. Parliamentpassed a law in April this year making it a legal method of payment. Japans largest banks have invested in bitcoin exchanges and small-cap stocks linked to the cryptocurrency or its underlying technology have rallied this year as it begins to win favor with some retailers.
With the nations Financial Services Agency responsible for bitcoins regulation, the BOJ remains focused on studying its distributed ledger technology.
"Central banks are not yet ready for regulating digital currencies,"said Xiao Geng, a professor of finance and public policy at the University of Hong Kong. "But they have to in the future since unregulated digital currencies are prone to crime and Ponzi-type speculation."
To be sure, the attraction of virtual currencies for many remains speculation, rather than for households or companies buying and selling goods.
"It is a fad that will die down and it will be used by less than 1 percent of consumers and accepted by even fewer merchants," said Sumit Agarwal of Georgetown University, who was previously a senior financial economist at the Federal Reserve Bank of Chicago. "Even if we can make the digital currency safe it has many hurdles."
The founders of Exio Coin argue they have developed a middle way with principles of governance that will set the trend for the blockchain industry. While some regulation is inevitable, cryptocurrencies are intended to be a global form of currency and not subject to the rules and regulations of one jurisdiction, said Johnson.
With all the misgivings about cryptocurrencies, having a sovereign endorser -- rather than an issuer -- may be a pragmatic way of offering the benefits of digital money with less of the worry.
"With no one central bank maintaining control Exio Coin will retain its decentralized characteristics," Johnson said. "The sovereign endorser shares our vision for the future."
With assistance by Brett Miller, Lucy Meakin, Carolynn Look, and Justina Lee
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Central Banks Can't Ignore the Cryptocurrency Boom - Bloomberg
Cryptocurrency mining may void warranty on Inno3D GPUs – PC Gamer
Reddit via KikiGGG. Click for original.
(Image: Reddit via KikiGGG)
At least one company is fighting back against the cryptocurrency craze that is depleting the market of graphics cards. Over at Reddit, a user brought to attention a warning sticker from Inno3D that tells miners it may opt not to honor its warranty if its cards are used for mining.
"This product is not designed for Crypto Mining. We reserve the right to void the warranty if there is any damage associated with this application," the sticker reads.
It is not clear how widespread the label isthis one was found on an iChill GeForce GTX 1060 6GB X3 V2 graphics card with factory overclocked specs. Whereas Nvidia's reference blueprint calls for a 1,506MHz base clock and 1,708MHz boost clock, Inno3D's card has a 1,556Mhz base clock and 1,771MHz boost clock.
Miners are in part to blame for the shortage of certain model graphics cards, which has led to inflated price tags in the second-hand market and by third-party sellers on marketplaces such as Amazon and Newegg.
While cryptocurrencies are considered volatile, both Bitcoin and Ethereum have seen rapid rises in value, leading to a sort of modern day gold rush. The good news with Bitcoin is that it's not worth trying to mine with graphics cardsASIC hardware does a much better job. Ethereum, on the other hand, is designed to be mined with GPUs. However, it's also not uncommon for miners to cash in their other currencies (Zcash, LBRY, etc.) and invest in Bitcoin.
The huge demand on hardware by miners has not been lost on hardware makers. Sapphire recently came out with headless cards designed specifically for mining, and Asus is prepping a motherboard with 19 PCIe slots. AMD and Nvidia have both acknowledged the demand for graphics cards from the mining community as well, with AMD even pumping out drivers that are tuned for mining.
Inno3D's stance makes us wonder if the company or others have seen an uptick in RMA requests. Either way, it's refreshing to see Inno3D take a stand against mining, even if it has its own self interest in mind.
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Cryptocurrency mining may void warranty on Inno3D GPUs - PC Gamer
Good Morning, Cryptocurrency! Vietnam To Create Legal Framework For Digital Assets – ETHNews
Newslaw and legislation
The Vietnamese Prime Minister has approved a plan to review the countrys legal framework for cryptocurrency. This action lays the foundation for Vietnams legal recognition of virtual currencies like bitcoin and Ether.
This week, it was reported that Vietnamese Prime Minister Nguyn Xun Phc has tasked the Ministry of Justice with assessing the nations legal framework for cryptocurrency, and issuing a report by August 2018. ETHNews previously covered the Vietnamese governments consideration of this plan.
The Ministry of Justice will coordinate its evaluation with the State Bank of Vietnam, Ministry of Information and Communications, Ministry of Public Security, Ministry of Industry and Trade, and Ministry of Finance. Through this assessment, the Ministry of Justice will create proposals for legal standards and laws related to virtual property and virtual currency.
According to Viet Nam News, by June 2019, the ministries must finalize an application asking for the compilation of a legal framework on taxes for cryptocurrencies. Additionally, the ministries must submit proposals for the prevention and resolution of related violations by September 2019.
Matthew is a writer with a passion for emerging technology. Prior to joining ETHNews, he interned for the U.S. Securities and Exchange Commission as well as the OECD. He graduated cum laude from Georgetown University where he studied international economics. In his spare time, Matthew loves playing basketball and listening to podcasts. He currently lives in Los Angeles.
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Good Morning, Cryptocurrency! Vietnam To Create Legal Framework For Digital Assets - ETHNews
A Mysterious New Cryptocurrency Is Surging After Being …
Ethereum founder Vitalik Buterin speaks at TechCrunch in December of 2015.
By John Phillips/Getty Images.
After catching the eye of both the Singapore government and Russian President Vladimir Putin, Ethereumthe second-biggest cryptocurrency in the world, after Bitcoincontinues to skyrocket. On Monday morning, the cryptocurrency was trading at a record-high level of $407.10, more than a 5,000 percent rise since the beginning of 2017, when it was trading at $7.98.
Ethereums founder, Vitalik Buterin, recently met with Putin during the St. Petersburg International Economic Forum, a signal that the country may be interested in using digital currency to move its economy beyond gas and oil. The digital economy isnt a separate industry, its essentially the foundation for creating brand-new business models, Putin said at the forum. (Russian entities, like the state development bank VEB, have agreed to use Ethereum to help implement blockchain technology in the country). As investors look for a place to put their assets amid mounting geopolitical instability, some are turning to cryptocurrency. Singapores government has released a report saying it has carried out a test using ethereum blockchain technology to create a national digital currency. Regulators in Japan are issuing new rules that make cryptocurrencies like Ethereum a valid form of payment. And companies such as Toyota and Microsoft, which are members of an organization called the Enterprise Ethereum Alliance, are throwing their weight behind the cryptocurrency, too.
Ethereum, which has a total valuation of $36 billion, trails only Bitcoin (valued at $49 billion) in terms of market capitalization. Bitcoin has been rallying all year, reaching a high of above $3,000 for the first time on Sunday as a growing number of people turn to virtual currencies as a safer, faster way to exchange money. But Ethereums rally may still have a ways to go: Pavel Matveev, the co-founder of banking start-up Wirex, tells CNBC that Ethereums price could reach $600 by the end of the year.
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A Mysterious New Cryptocurrency Is Surging After Being ...
How to Learn About Cryptocurrency In The Bitcoin Era – Daily Beast
Today the world of cryptocurrency digital cash that primarily takes on the form of data, usually used for online transactions for goods and services is in the news, specifically because of the prominence of Bitcoin. Demand is high and the valuation for Bitcoin and other forms of cryptocurrency is skyrocketing. The Beginner's Guide to Cryptocurrency Investing provides the basics on how to research cryptocurrencies, to estimate the true value of the market and to invest wisely. And in little time you may be able to start earning a digital fortune. Cryptocurrencies are so appealing to users because they are decentralized and available to anyone. Plus they use advanced encryption techniques to help ensure security and the anonymity of users. Best of all, today you can get the Beginner's Guide to Cryptocurrency Investing for $15.
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How to Learn About Cryptocurrency In The Bitcoin Era - Daily Beast
Estonia wants to launch its own government-backed cryptocurrency called ‘estcoin’ – CNBC
Estonia wants to issue its own virtual currency with the help of Ethereum founder Vitalik Buterin.
The cryptocurrency, called "estcoin," could be launched via the digital coin community's version of crowdfunding an initial coin offering (ICO).
ICOs enable start-ups to raise funds by selling off cryptocoins, such as bitcoin and ether, in return for cash. They are similar to initial public offerings (IPOs), but differ in that they deal with supporters of a project, making the investment more personal.
The small eastern European country is no stranger to digital innovation. It was the first country to offer citizens of the world "e-residency," a digital ID for non-Estonians that offers access to services like banking, payment processing and taxation.
Kaspar Korjus, managing director at e-Residency, Enterprise Estonia, said that the initiative was about creating a "borderless digital nation".
"A government-supported ICO would give more people a bigger stake in the future of our country and provide not just investment, but also more expertise and ideas to help us grow exponentially," Korjus said in a blog post on Monday.
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Estonia wants to launch its own government-backed cryptocurrency called 'estcoin' - CNBC