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Global Cryptocurrency Crowdfunding Platform FundYourselfNow Announces First Quarter 2018 Launch – Crowdfund Insider

FundYourselfNow, a global cryptocurrency crowdfunding platform, announced earlier this week it is set to launch in the first quarter of 2018. The funding portal revealed:

The year 2016 saw over $200 million worth of cryptocurrency investments raised though the ICO (Initial Coin Offering) process. But creating and launching an ICO campaign requires expert technical and marketing knowledge which may not be everyones forte. FundYourselfNow makes the whole process easier by enabling project creators to get their ideas funded by global backers. The project creators on FundYourselfNow will be able to create virtual tokens to offer unique customized rewards to the backers and helpers contributing towards the project. These tokens can also be traded or sold on the platforms marketplace on a later date.

According to the creators of the platform, FundYourselfNow is being built over an Ethereum platform and a significant portion of the site has already been completed, with preparations to introduce Bitcoin support in the future through Rootstock.Jack Ser, CEO of FundYourselfNow, stated:

With the recent mainstream acceptance of virtual currencies such as Bitcoin, we want to build an ecosystem that offers entrepreneurs an alternative funding raising platform for their product, with minimal technical and marketing knowledge.

FundYourselfNow recently closed its initial seed funding round, which angel investors led by Carlos Salas invested. Salas shared:

We believe that FundYourselfNow addresses many existing problems in the traditional crowdfunding model such as accountability, high transaction costs and lack of project support. FundYourselfNow has capable people, process innovators and expert domain knowledge for successful execution.

Funds from the seed round will go towards FundYourselfNowsplatform development and enable easy crowdfunding through virtual currencies and allow users to seek assistances for their initiatives.The platform added it scheduled its upcoming ICO on June 2nd,offering an opportunity for investors to be a part of the new crowdfunding movement.

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Is my data safe in online drives, or should I back it up as well? – The Guardian

A data storage centre. I assume that because my data is synced that it is safe. Is this the case or should I be backing it up as well? Photograph: David Levene for the Guardian

I use Google Drive and Dropbox to store all my data, and I assume that because my data is synced that it is safe. Is this the case or should I be backing it up as well? Andrew

Its very handy to have files synchronised with online services such as Google Drive, Dropbox, Microsoft OneDrive, Apple iCloud, Flickr or whatever. You should be able to retrieve most or all of your photos if your smartphone or laptop breaks or is lost or stolen. However, you can never assume that your data is safe, whether youre asking about cloud services, network servers, PCs, smartphones, USB hard drives, thumb drives, SD cards, or CD-Rom, DVD or Blu-ray discs. I might make an exception for stone tablets, but they are not practicable for storing photos and videos.

You may have come across Schofields Second Law of Computing, which states that data doesnt really exist unless you have at least two copies of it. Today, Id add a corollary: backups dont really exist unless you have at least three on different media in different places, and deleting one must not affect any of the others.

But you must understand how the synchronisation works. If you delete a file on your local device, does that delete the same file in the cloud? (Which folders are synchronised and which ones arent?) Further, are the files on your device really files or are they placeholders merely links to a file that is actually somewhere else?

A few years ago, Ovi Demetrian provoked a lot of discussion when he posted a website, Google Drive Sucks: I lost years of work and personal memories that I saved as Google Docs files because of a poor user interface, he wrote. Hed moved his files out of the Google Drive folder on his PC, not realising that they were only links. When Google told him he was running out of Google Drive space, he went online and emptied the trash folder which promptly deleted his files.

The reverse used to happen a lot. Someone would install Google Drive on a PC, drop some files in its folder, see them upload, then delete the files. If they went online, of course, the files werent there. (Uploading files manually via web interfaces works as youd expect.)

Theres an even scarier story on Reddit: How we lost over 6,000 by not understanding Google Drive. This is about the way file ownership works in the Google Apps suite. Briefly, you have a file, but you cant access it because the account that created has been closed.

People also get caught out by local file synchronisation. For example, I set up an external hard drive (EHD) that syncs with the data on my PCs hard drive. Great: all my new files are backed up. But if I accidentally delete a file or folder on my PC, the sync program will delete it on the EHD as well.

That is one reason why I have a second EHD to back up my backup. I do that manually using FreeFileSync so I can scroll through the list of files to be copied and deleted, looking for the unexpected.

Another reason is the threat of ransomware, which encrypts files on PCs and holds them hostage. Smart ransomware also encrypts any files it finds on EHDs and in cloud drives.

Not all files are equal. Some are irreplaceable, such as family photos, and some would be hard to replace, such as your half-finished PhD thesis/blockbuster novel or a decades accounting data. Many other files are easy to replace, probably without charge. You may be able to re-download music files, for example, or just reinstall an operating system or application.

You can enhance your backup strategy by keeping vital files together in one folder that you can back up without having to back up your whole PC. Windows tries to help by creating special folders for documents, downloads, music, pictures and videos. (This also helps protect them from other users.) However, you can create your own separate hierarchy with the subfolders you need photos, work, taxes, medical records etc. The idea is to assemble a relatively small set of important files that you can back up quickly while avoiding the rubbish.

Ideally, your vital data should fit on a convenient storage format. If you only have 700MB, it will fit on a CD-Rom. If you have 4.7GB, it will fit on a DVD. You can get 50GB (single-layer) or 100GB (dual-layer) on a Blu-ray disc. Facebook uses vast numbers of Blu-ray discs for backups.

EHDs can hold 8TB nowadays, though smaller EHDs are more affordable. For example, you can buy a 3TB drive for around 100. That should have room for both a conventional, incremental backup and an unencrypted, uncompressed copy of your folder of important files.

I still like optical discs because they are cheap, and you can easily make multiple copies. That makes it easy to keep backups off site in a garden shed, an office drawer, or at a trusted friends house. Also, optical discs are invulnerable to ransomware.

There are a few specialised cloud-based backup services such as Carbonite, SugarSync and Mozy, but they cost more than using your own EHD, and it can take a long time to do a complete backup. The Wirecutter reckons CrashPlan is the best, though BackBlaze is also worth a look.

General-purpose cloud drives such as Google Drive, OneDrive and Dropbox are best for sharing small-ish files between devices or with a few friends, but not ideal for backup purposes. You may be able to use one or preferably two to store copies of your vital files, but if you have more than about 2GB, you may have to pay. Google Drive costs $19.99 a year for 100GB or $99.99 for 1TB. Dropbox costs 79 a year for 1TB. Microsoft Office 365 Personal provides 1TB of OneDrive storage for 59.99 a year, but the best deal is Office 365 Home with Premium OneDrive. For 79.99 a year, five users get 1TB each, as well as full Microsoft Office software on their PCs and Macs, and apps on their smartphones and tablets.

However, note that there are other hazards with cloud storage, such as being locked out of your mailbox and/or cloud drive by the supplier or by a passing hacker. And, obviously, you cant access online files when you dont have an internet connection.

At this stage, I wouldnt rely on a single cloud service for backup purposes, and Id be wary of relying on two. But I strongly recommend them as part of a backup strategy that includes other media in other places. For safetys sake, make NAS servers, EHDs, optical discs etc take your pick part of the mix.

Have you got a question? Email it to Ask.Jack@theguardian.com

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IBM Announces The Defense Calculator And A Cloud Computing Service – Forbes


Forbes
IBM Announces The Defense Calculator And A Cloud Computing Service
Forbes
This week's milestones in the history of technology include the world's first analog computer, experimenting with the Web via TV in pre-Web days, the birth of the ITU, and IBM's first commercially available scientific computer and first computing ...

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The strange mix of reasons why bitcoin has soared to all-time records – Quartz

The strange mix of reasons why bitcoin has soared to all-time records
Quartz
Bitcoins traded at over $1,800 late last week, marking a new all-time high. To understand how significant this is, even in the volatile bitcoin market, the cryptocurrency's previous record price of $1,165 took three years to topple, which happened in ...

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Back to Reality? Bitcoin’s Price Drops $100 Amid Meteoric Month – CoinDesk

The price of bitcoin saw something it hasn't seen much of lately today a 24-hour decline to the tune of triple digits.

According to figures from the CoinDesk Bitcoin Price Index, the day-over-day decline marks a rare occurrence over the last month. Over that span, bitcoin has been largely in the green, spurred by a diversity of factors on which analysts haven't found much to agree.

The pause in price growth may be stunning, if only for the fact bitcoin has been consistently setting new all-time highs in recent trading sessions.

Analyst and trader Jacob Eliosoff, for instance, downplayed bitcoin's off-day, positioning it in perspective of bitcoin's overall gains. The price of one bitcoin is up over $700 so far this year, and up nearly $1,300 since May of last year, BPI data shows.

Still, Elisoff pointed to data that suggests bitcoin's historic corrections have been swift.

He told CoinDesk:

"A natural question is, when the correction does come, how far will it drop? I don't know, but in the past they've been huge."

Others projected that the price may simply be consolidating after a period of intense growth, with over-the-counter trader Charlie Shrem reporting that he believes this to be the case.

Shrem pointed to bitcoin's long-term value projections as evidence the market isn't "satisfied" even with the current price observed today.

And as the momentum subsides, some worry that bitcoin's past problems may now become more visible. For example, with litecoin having recently upgraded its code to scale its transaction capacity, it's possible bitcoin's scaling debate could soon again heat up.

"I think bitcoin will be worth $5,000 or $10,000 in a few years time, but it can't get there unless we get past this scaling debate, and short-term price rallies only serve to delay us dealing with this reality," said angel investor and entrepreneur Vinny Lingham.

Lingham went on to note that price spikes of any severity are also more likely to make bitcoin's limited throughput apparent. "The rewards per block keep going up," he remarked.

Data from Bitnodes now suggests it costs about 240 satoshis to clear 1 byte of transactions on the network, meaning average transaction fees are now above $1.

Charles Hayer, CEO of digital currency data website CryptoCompare, agreed with Lingham.

"In terms of capacity bitcoin is straining at the seams, whilst litecoin is streets ahead in terms of forward thinking and governance," he said.

While still conjecture, the comments point to potentially troubled waters ahead or big gains if an upgrade can finally be made.

Charles Bovaird contributed reporting.

Shuttlecock image via Shutterstock

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Top 5 Countries Interested in Bitcoin, According to Google – The Merkle

It is always interesting to look where Bitcoin is a popular search trend. Although one would expect African countries to rank rather high on the results list, it appears Eastern European countries are growing keen on Bitcoin as well. In fact, the top five countries with a keen interest in Bitcoin are quite surprising to a lot of people. This spells quite good news for the future of cryptocurrency.

Hardly anyone will be surprised to find out South Africa is showing great interest in bitcoin right now. Although the country is doing ok-ish financially, there is always a need for innovative and digital payments. With access to bank accounts and credit cards still somewhat limited in the country, Bitcoin makes for a fine alternative. The LocalBitcoins chart does not show a massive spike in Bitcoin trades for now, but it still generates some decent volume.

It is somewhat interesting to see Eastern European countries grow an interest tin Bitcoin. Countries such as Slovenia are in rough shape right now, and it looks like things will not improve financially anytime soon. An interest in Bitcoin makes a lot of sense in this regard, that much is certain. Unfortunately, currently there is no LocalBitcoins chart of Slovenia available, making it a bit harder to gauge if there has been any recent trading volume spikes in recent months.

Another Eastern European country looking into Bitcoin is none other than Estonia. The country has been somewhat keen on embracing blockchain technology as of late, which could explain the increased demand for Bitcoin as well. It is evident the Bitcoin trading volume on LocalBitcoins across all of Europe has increased over the past few weeks. It is difficult to tell how much of this volume comes from Estonia, but it is a positive development regardless.

No one is surprised to see Ghana in the list of countries where Bitcoin demand is surging. Not only is the financial situation rather dire in that part of the world, but service like Bitpesa have also successfully gained market share in Ghana. This means Bitcoin is advertised prominently in the country, and a lot of people are aware of what this cryptocurrency can do for them.

Ghana does not have an individual LocalBitcoins chart either, although it is safe to say Bitcoin is quite prominent in the region. It will be interesting to see if this is the situation will change in the coming years. More countries are trying to introduce some form of Bitcoin legislation, which helps validate the cryptocurrency in the eyes of the general population.

There was no doubt Nigeria is the first region on the list where Bitcoin is in high demand. It is unclear if this is due to positive reasons, though. The MMM Global Ponzi scheme only accepts bitcoin deposits in Nigeria to avoid scrutiny by the government. This fact will drive up demand for Bitcoin, even if it is for the wrong reasons altogether. Then again, the popularity of Bitcoin in Nigeria can be turned into something positive moving forward.

If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.

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Cryptocurrency Market Broke $50 Billion, What Have We Learned So Far? – CryptoCoinsNews

As of May 12, the cryptocurrency market cap is at $53.9 billion, with bitcoin leading the market with a staggering $30 billion market cap and other alternative cryptocurrencies or altcoins such as Ethereum, Ripple and Litecoin maintaining their upward momentum.

Ethereum in particular has seen a rapid growth in its market cap ever since the launch of the Enterprise Ethereum Alliance, an Ethereum consortia wherein leading conglomerates such as Microsoft and JPMorgan are actively investigating into the potential of Ethereum and building decentralized applications on top of the protocol.

In fact, Ethereum and Ripple, the second and third largest cryptocurrencies or digital assets, have respectively seen 8.95x and 33x increase in their market cap year-to-date, pushing the global cryptocurrency market to new highs.

Since mid-2015, Bitcoin has sustained its appeal to a wide range of investors as digital gold and settlement network. Transactions are quite expensive and there are occasional delays but as a store of value and safe haven asset, bitcoin has demonstrated its potential over the past few years. In relatively short period of time, emerging markets such as Japan established their dominance over the global bitcoin exchange market and institutional investors began to show interest in bitcoin as a long-term investment.

Emphasizing the important role of the Japanese bitcoin exchange market in the recent price surge of bitcoin, BKCM CEO and CNBC analyst Brian Kelly stated:

Theres a tremendous amount of bitcoin influx in Japan. Its one of the most popular currencies in Japan. These developments have made Japan the dominate player in the bitcoin trading market. According to data compiled by Crypto Compare, the Japanese Yen is the most popular fiat currency used to buy bitcoin. Over 50% of the daily fiat to bitcoin trading volume is in Japanese Yen.

More importantly, Kelly noted that institutional investors are driving bitcoin price to new highs especially in Japan. To supplement such rapid rise in demand, some of Japans largest multi-billion dollar corporations began to establish bitcoin and digital currency exchanges.

The biggest driver right now is youre starting to see institutional investors take a keen interest in the entire sector. I dont think this is hot money. This is real money thats going to sit around and build the new internet, Kelly added.

Bitcoins value as explained above can be justified in various ways. Its recent price surge to $1,800 is attributable to the explosive growth of the Japanese bitcoin exchange market and Australias legalization of bitcoin. However, it is difficult to justify the value of other altcoins in the market solely because the origin of the demand toward altcoins is speculation.

If Ethereum is taken as an example, the Ethereum network is a wildly successful blockchain network in the sense that it is being utilized and experimented by some of the worlds largest companies. But, Ethereum still hasnt seen the debut of a practical decentralized application that has an active user base. Currently, Ethereum is valued at around $9 billion due to the demand from institutional investors and corporations and thus, until a real-life application of Ethereum is introduced and an actual user base is formed, the value of Ethereum is speculative.

A similar point can be brought up with Ripple. The development team behind Ripple has marketed the blockchain network around its partnership with leading banks such as BBVA. But, it is not clear whether Ripple is a large component of major banks such as BBVAs vision and settlement layer.

Lastly, initial coin offerings (ICOs) are evidently overvalued at this point, and a bubble is forming in the ICO market. Blockchain projects and startups that havent even carried out alpha and beta testing are raising multi-million dollar investments at a hundred million dollar valuation.

The cryptocurrency market is growing at a rapid pace. The value of some altcoins and ICOs can be justified and the rest are simply seeing an increase in value due to the rising demand in bitcoin and the entire cryptocurrency market.

Featured image from Shutterstock.

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Why Bitcoin’s Price Has Been Surging and Where It Could Go From Here – Fortune

Bitcoin has shown amazing, and fairly steady, growth over the last year.

A single bitcoin was worth just $455 in May 2016. And even after retrenching slightly from a record Thursday high of over $1,800 per token , it has shown a stunning 286% annual return, based on prices from CoinMarketCap.

As with most assets, explaining bitcoins bull stampede is more art than science. Bitcoin's price is fundamentally linked to how many people use the system to send money. But it's currently mostly driven by speculators, who trade on their belief that it will become more popular in the future. Positive news on that front has been plentiful in the last three months in particular.

Globally, Bitcoin is being treated with a great deal more respect by regulators. Positive comments about blockchain by Minneapolis Federal Reserve President Neel Kashkari coincided with the latest Bitcoin price surge. Japan approved Bitcoin as a legal method of payment in early April , and Chinese regulators have made progress in squaring Bitcoin usage with that countrys tight capital controls.

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There have been positive internal indicators, as well. Bitcoins major headwind is an ongoing debate over scaling up the system to handle more transactions. While that effort is still basically stalled by bitter infighting , some have seen a positive development in the successful deployment of a solution known as Segregated Witness on the LiteCoin system, which is largely a Bitcoin clone.

When considering further upside on Bitcoin and other cryptocurrency, one factor looms above all: cryptocurrency is still essentially off-limits for institutional investors. While venture capitalists have poured more than $1.5 billion into blockchain startups, the tokens themselves dont meet regulatory standards for more traditional funds. Once something like the Winklevoss twins proposed Bitcoin ETF is approved, the pool of potential Bitcoin investors will explode overnight .

There are also two very important points of caution. First, Bitcoin is still a risky asset in the short term. Boosters were just as excited when it peaked at over $1,100 in late 2013and the price then spent years gradually slumping, reaching a low of $200 in mid-2015.

Theres also a serious long-term downside risk to Bitcoin. While the potential of Bitcoins underlying blockchain technology is widely acknowledged, Bitcoin itself is now only one of dozens of implementations of the idea. Bitcoin has a big first-mover advantage, but innovators with names like Ripple and Dash have already significantly expanded on its features.

Foremost among those innovative competitors is Ethereum, the second-largest cryptocurrency, whose price has also spiked over the last month. Many entrepreneurs building blockchain applications are using Ethereum, so its likely to share inand maybe even cannibalizeBitcoins long-term growth.

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This cryptocurrency project is now courting banks – American Banker

Stellar, an open-source payments network that started as a splinter project from Ripple, has formed a for-profit company to help financial institutions integrate its software.

Lightyear.io represents an acknowledgment that to fulfill Stellar co-founder Jed McCaleb's goal of an open, global financial system, traditional banks will need to be involved.

The company said in a press release that by utilizing Stellars open-source network, it will be able to power payments between financial institutions and enable seamless exchange between currencies, and let anyone build low-cost financial services.

Stellar started in 2014, the year after McCaleb left Ripple. Early on the Stellar project's strategy was to integrate with microfinance institutions in the developing world, but it "couldn't go past a certain point" without larger financial institutions connected to the network, he said Wednesday.

It's a common narrative in fintech lately, as aspiring disruptors pivot from challenging incumbents to partnering with them, or pursuing some combination.

For financial institutions, McCaleb said, Stellar's selling point is interoperability. Just as the internet allows users to send messages anywhere in the world, Stellar will allow banks to connect to remittance companies, payment platforms like Venmo or mobile money systems such as Kenya's M-Pesa, he said. It will "increase the reach and scale any financial institution can have," said McCaleb, who is the chief technology officer at Stellar.

Thats a similar pitch to what his former employer, Ripple, has been making in recent years as it positions itself as a modern alternative to the decades-old Swift messaging network. So far, Ripple has recruited scores of bank partners, giving it a considerable lead.

McCaleb argued that his team has improved upon Ripple's code (including a complete rewrite after Stellar suffered a major technical snafu in late 2014) and that having a nonprofit, the Stellar Development Foundation, in charge of software development gives his project stronger governance.

Nevertheless, he said, it became necessary to set up a commercial enterprise to work with partners so the foundation could focus on its core mission of securing the Stellar protocol and "wasn't pulled in two directions."

The relationship between Stellar and Lightyear is akin to that of the Linux Foundation and Red Hat, where one focuses on the development of open-source software and the other sells related services, McCaleb said.

Lightyear's other co-founder is Brit Yonge, previously an executive with Palantir Technologies, the analytics and data firm co-founded by the Silicon Valley titan Peter Thiel.

McCaleb also created the first bitcoin exchange, Mt. Gox, which he sold to Mark Karpeles in 2011, three years before its collapse. In 2012 he started Ripple with the serial fintech entrepreneur Chris Larsen in 2012.

Ripple and Stellar both allow payments denominated in fiat currency but have their own native digital currencies. Stellar's is called lumens. The digital currency serves as a "security token" guarding against spam attacks by requiring users to spend a small amount of lumens to transfer fiat. Lumens also can act as "bridge currency," facilitating trades for currency pairs that lack a liquid market. For example, if someone wanted to send money from London to Toronto but there are few counterparties on the network willing to trade loonies for pounds, trading in and out of lumens could get the transaction done.

In its early days, Stellar envisioned getting lumens in the hands of consumers, but McCaleb said Wednesday that he now expects the digital currency to operate in the background for most users, who would only know that they are sending or receiving fiat.

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Countr to Enable Cryptocurrency Payments for over 3000 Merchants across with World – newsBTC

Countr POS solutions provider partners with Coinify to enable cryptocurrency payment options for the merchants using its product. Read more...

Countries around the world are increasingly exploring the option to legalize cryptocurrencies as payment instruments. With the current regulatory scenario looking promising, the adoption of alternative payment options is set to rise in the near future. Countr POS, a point of sale solutions provider, has recognized the changing trend to enter into a strategic partnership with Coinify, a European blockchain payments and trading service provider.

The partnership announced in a recent press release opens a whole new avenue for Countr, enabling the platform to integrate cryptocurrency payment support on its tablet based point of sale software. At the same time, the new partnership will also enable Coinify to expand its user base and merchant network.

In the release, the Sales Manager at Coinify, Morten Bebe expressed his happiness about its partnership with Countr by saying,

Coinify is on a mission to spread the use of digital currencies by offering everyone the opportunity to use alternative payment methods and accept blockchain currency payments. I am thrilled to see that with Countr POS we are succeeding in expanding blockchain payments in both online and offline environments,

The deal between both entities will help one leverage the existing technology built by the another, while the other gets to extend its reach to include the existing user base of its new partner.

Countr claims that the integration of blockchain payments powered by Coinify will help increase the profit margins for the buyers, merchants and the company. It also touches upon the obvious benefits of cryptocurrencies over conventional payments methods, which includes transparency, speed, and security at a fraction of transaction costs.

The POS application platform already has over 3000 merchants using its services across the globe. By next month, they can start accepting cryptocurrencies from their customers, just like credit/debit cards, mobile wallets, and contactless NFC payments.

At the current rate of development, more businesses are expected to enter the fold, making cryptocurrency payments a universal feature across the world.

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