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BCH Roundup: Steady Development, Market Uptrends, and New Apps


BCH Roundup: Steady Development, Market Uptrends, and New Apps


The anniversary of the blockchain split that took place on August 1, 2017 is just two weeks away. Over the past few months Bitcoin Cash (BCH) infrastructure support and development has been exponential, while BCH proponents have also seen a bunch more announcements during the second week of July.

Also read: Have You Tried Blockchain 5.0 Yet? Nobody Else Has Either

The Bitcoin Cash Network Has Seen Massive Infrastructure Support and Steady Development Over the Last Year

A lot has changed since August 1, 2017, and in two weeks the Bitcoin Cash community will be celebrating the blockchain split. As of today, the BCH chain has seen over 60,000 blocks mined since the first hard fork, and since then the network has seen two more upgrades. The first upgrade changed the decentralized currency’s Difficulty Adjustment Algorithm (DAA), and the second fork upgraded the block size from 8 MB to 32 MB. Further, the BCH developers re-enabled a few Satoshi OP_Codes and increased the data carrier size which added a bunch of new features to the protocol.

BCH Roundup: Steady Development, Market Uptrends, and New Apps

The Fourth Largest Market Capitalization and the Fifth Highest Trade Volumes

Since the DAA was fixed, the BCH chain’s difficulty has been running perfectly and on July 15 the chain is operating at 12.69% of the bitcoin core’s (BTC) difficulty. Markets have done extremely well over the past year as well. BCH was averaging $300 per coin during its first week, now the token is worth $726 seeing a 142 percent increase. The digital asset commands a whopping $12.4Bn market valuation and with $320Mn traded over the past 24-hours, which puts BCH at the fifth position out of 1600+ other coins by trade volume. The top five BCH exchanges today include Coinex with $55Mn in volume, Okex with $40Mn, Binance – $33Mn, Hitbtc – $29Mn, and – Rightbtc -$24Mn. The top currencies swapped with BCH includes tether (USDT 48%) followed by bitcoin core (BTC 35%), USD (6.7%), ETH (3.7%), and KRW (2.4%). BCH markets are seeing some recovery since last week and are up 3 percent over the last 24-hours.

BCH Roundup: Steady Development, Market Uptrends, and New Apps
Bitcoin cash (BCH) markets are seeing some recovery since last week’s dip on July 15, 2018.

This Week’s Bitcoin Cash News and Developments

A lot has happened in within the BCH ecosystem this week. For instance, the highly anticipated privacy-centric BCH mixing platform Cash Shuffle has seen steady development and a stable release should be launched soon. The firm Robinhood added bitcoin cash support this week – adding another infrastructure provider to the massive list of apps that have implemented BCH. Bitcoin Cash supporters will be pleased to hear that Bitcoin XT has released its J version and OSX binaries are back. Furthermore, the developer Unwriter has launched another platform called Chaintrend.org. The app is a powerful OP_Return trend analytics engine with a simple JSON query language powered by bitdb.

BCH Roundup: Steady Development, Market Uptrends, and New Apps
The developer Unwriter launches Chaintrend.org. Demos are available for people to use to test the app.

In other news, we recently reported on a project called Bitreon that was supposed to be a Patreon-like application that uses bitcoin cash. Unfortunately, there were some discrepancies with the creator of the project and a particular donor. It seems the creator of Bitreon refuses to refund the donor’s funds and the Bitreon founder states that his platform will still launch in a couple of weeks.

BCH Proponents Believe the Future Looks Bright

Besides the disappointing Bitreon rumors, there have been a lot of positive things happening across the Bitcoin Cash ecosystem overall, and BCH proponents are looking forward to the upcoming anniversary. On August 15, the community will likely find out what the next upgrade will feature as the November 15th hard fork software should be completed by then. Bitcoin ABC also plans to launch the finished stable 0.18 version of the ABC-client on October 15 – which will contain the necessary code changes for the hard fork. Bitcoin cashers have a lot to look forward to over the next few months and most of the decentralized currency’s supporters are pleased with the current direction.

What do you think about the latest events and announcements taking place within the Bitcoin Cash environment? Let us know your thoughts on this subject in the comment section below.

Images via Pixabay, Bitcointalk.org, Chaintrend, and Satoshi Pulse. 

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Australian Firms Partner to Provide Crypto Custody Services


Australian Firms Partner to Provide Crypto Custody Services


Decentralised Capital, an Australian advisory firm “specializing in blockchain assets” and “asset management services,” has announced a partnership with Custodian Vaults, an Australian private vaulting company, to offer insured cryptocurrency custody services to the Australasian market.

Also Read: Have You Tried Blockchain 5.0 Yet? Nobody Else Has Either

Decentralised Capital and Custodian Vaults Partner to Provide Cryptocurrency Custody Services

Australian Firms Partner to Provide Crypto Custody ServicesIt has been announced that Decentralised Capital and Custodian Vaults are teaming up to provide insured cryptocurrency custody services in the form of what the companies are describing as Australia’s first insured cryptocurrency vault

According to According to Australian Financial Review, Stephen Moss, Decentralised Capital’s founder and the son of former Macquarie Bank property chief, Bill Moss, described the project as seeking to provide “a solution for the next phase of the industry” adding “it gives real security […] You can’t hack your way into the safe.”

Mr. Moss emphasized that his company is hoping to ride the cryptocurrency boom for the long-haul, stating:”In my opinion bitcoin will not be remembered as the bubble, but the pin. While the short-term future of bitcoin may be debatable, the blockchain and its benefits are not.”

The founder of Decentralised Capital stated that “the new vault provide[s] customers [with] direct access to their holdings and combined physical surveillance, biometric identification, pin codes, CCTV monitoring, alarm and fire control systems.” Additionally, the vault premises “also house a private Wi-Fi room to allow cryptocurrency transfers in and out.”

Custody Services Aimed at Crypto High Rollers

Australian Firms Partner to Provide Crypto Custody ServicesThe companies’ vault services will is expected to predominantly target institutional and wealthy investors, in addition to cryptocurrency exchangers and issuers of initial coin offerings. Mr. Moss has stated that the digital currencies held in the companies’ possession insured, however, did not provide the insurance provider’s name.

Janie Simpson, the director of Pallion – a precious metals firm that owns Custodian Vaults, described the company’s decision to enter into the cryptocurrency custody industry as having been spurred by growing customer demand.

“While traditionally we have offered secure vault services for clients storing precious metals and other assets, we are increasingly receiving interest from clients searching for solutions to store cryptocurrency,” Mrs. Simpson said.

Do you feel that cryptocurrency investors are in need of a greater array of custodianship services? Share your thoughts in the comments section below!

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Have You Tried Blockchain 5.0 Yet? Nobody Else Has Either


Have You Tried Blockchain 5.0 Yet? Nobody Else Has Either


Over the past few years, the buzzwords “Blockchain Technology” have been tied to literally every industry under the sun. Cryptocurrencies had a wild year in 2017 and it seems during that time distributed ledger technology has made it all the way to the ‘Blockchain 5.0’ era, but there’s a big problem — No one reporting on these projects has tried these networks.

Also read: Bitcoin: A Legitimate Cure for a Broken Money System

Blockchain 5.0 & DLTs: The Ultimate Snake Oil

Have You Tried Blockchain 5.0 Yet? Nobody Else Has EitherBack in 2009, a network was launched which produced the digital currency bitcoin and no one moved a muscle. These days cryptocurrencies are a hell of a lot more popular than those days but there are some people who have this idea that the technology “behind” digital currencies represents the real innovation. You’ve heard it time and time again, that ‘Blockchain Technology’ will revolutionize the world and every industry will be touched by this remarkable software. Supposedly, blockchains will transform finance, the clothing industry, movies, music, food, healthcare, and basically the entire supply chain, one block at a time.

Blockchain Immutability Is a Fallacy

There’s just one glaring issue for these distributed ledger projects that hope to change the world — No one uses these networks and some probably don’t even exist. But what’s worse is they also fraudulently claim they can solve an age-old computer system problem that cannot be solved — immutability.

Blockchain projects that claim immutability, which is a large representation of nearly every blockchain out there today, are misleading and these systems can never be 100% immutable. The well-known bitcoin evangelist, Chris DeRose, explained two years ago that “blockchain immutability is a perpetual motion claim.”

“While many have been caught up in the hype behind immutability, most of these claims will at best regress to the basic signing mechanisms that have been in place for decades, with little to differentiate their systems from incumbent message passing solutions,” DeRose explains.

On paper, immutability sounds nice, it seems to be a dubious proposition that some magically benevolent server will show up to perform this service. And certainly, blockchain will not make that benevolence any easier than it is with incumbent HTTP systems.

Have You Tried Blockchain 5.0 Yet? Nobody Else Has Either

Most of Today’s Blockchain Technology Projects and Bankchains Are Merely Client-Server Network Databases, Word Salad Press Releases, and Pure Vaporware  

Then there are distributed ledger technology (DLT) projects created by the very banks who once mocked bitcoin. There have been so many of these private blockchain projects announcing that they have the next great blockchain that will wipe public blockchains off the map. Yet none of them have been revolutionary so far, and no one from the general public seems to be using these DLT solutions, unless it’s a ‘trial run’ wrapped up in fancy-wording wrapping paper and sent to publications like Forbes, and Bloomberg. Do they criticize a blockchain system they have never tried? — No, usually they write up a nice little article that makes these blockchain projects look good, even though the journalist never tried the system, or let alone seen it in action.  

Have You Tried Blockchain 5.0 Yet? Nobody Else Has EitherThis Tuesday, the blockchain firm R3 released its ‘Corda Blockchain’ platform after initially making a big fuss on how Corda technology was not a ‘blockchain.’ R3 website visitors will see that the company clearly calls Corda a blockchain and according to the company, over 39 firms are testing this enterprise software. But what makes Corda so revolutionary? Or any of these bankchain projects, for that matter, who set up a bunch of privatized nodes that can relay and time stamp transactions. All we have is their word, no third party reviews, just a press release and decentralized word salad.

The fact is a very large portion of these blockchain projects are overhyped press releases that exemplify the true meaning of vaporware. Can we trust a group of incumbents that say on paper they’ve created some revolutionary blockchain? Just because it’s Visa? At least with Bitcoin and Ethereum (public chains) people can differentiate between something that works, something that is shit, and something that is vapor. With the bankchains and blockchain technology hype, it’s all based on words stemming from the horse’s mouth, and what they choose to tell you.

Have you tried Blockchain 5.0 yet? I sure haven’t.

What do you think about the blockchain hype? Let us know what you think about this project in the comment section below.  

This is an Op-ed article. The opinions expressed in this article are the author’s own. Bitcoin.com does not endorse nor support views, opinions or conclusions drawn in this post. 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 via Shutterstock, Pixabay, a CCN Headline, and the Corda website.

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Three Russian Universities Add Crypto Courses and Diplomas


Three Russian Universities Add Crypto Courses and Diplomas


More academic institutions in Russia are starting educational courses and even postgraduate programs in crypto and blockchain technologies. Three universities will be teaching related subjects like cryptography and digital economy during the new academic year beginning in September. Some of the courses will be conducted in English and with guest lecturers from Europe, India, and the US.

Also read: London School of Economics Launches “Cryptocurrency Investment and Disruption” Course

Higher Crypto Education

Three Russian universities have announced new courses and majors related to cryptocurrencies and crypto technologies. The educational programs will be offered with the start of the new academic year this fall. They cover a wide variety of subjects, including cryptography, blockchain and distributed ledger technologies, alternative payment systems, digital economy, accounting and management. Some of the courses will be taught in English targeting foreign students, but also Russians seeking career opportunities in the international environment of the crypto space.

Three Russian Universities Add Crypto Courses and DiplomasThe Voronezh State University (VSU) has established a bachelor’s degree program focused on studying digital economy and blockchain technology, the institution announced on its website. The new major called “Models and methods for analyzing the digital economy” is offered by the Department of Information Technologies and Mathematical Methods in Economics. Classes will begin from September 18.

The program’s curriculum provides in-depth training in the use of modern information technology analysis. It ensures the universal character of the acquired knowledge, as well as the wide scope of its application in various types of economic activities and at different levels of government, the university said in the statement. The announcement also notes the importance of the development of new technologies and the training of specialists in light of the implementation of the Digital Economy Program adopted by the Russian government.

Three Russian Universities Add Crypto Courses and DiplomasTwo master’s programs in blockchain technologies will be offered by the Don State Technical University (DSTU), its press service announced this week – “Intellectual systems based on blockchain technologies” and “Digital accounting and management.” Students will be taught knowledge needed to develop new information systems and create modern electronic payment methods and structures.

“We offer graduate students [the opportunity] to study in depth the distributed ledger technology. Blockchain is a promising technology that is rapidly introduced in many areas of life. Demand for specialists in this field is growing every day,” said DSTU’s Vice-Rector Alexey Belskopilniy, quoted by RIA Novosti. The MS programs have been developed in cooperation with the University of Nicosia and foreign lecturers will be invited to teach. The Russian university plans to also offer English language courses in the future.

Master’s Degree in Cryptography

Another Russian higher education institution, the Novosibirsk State University (NSU), is already conducting similar courses in English. In September, its Mechanics and Mathematics Faculty will accept the first 15 students of its MS degree program in cryptography, according to an announcement posted on its website. They will study encryption techniques and blockchain technologies as part of a two-year intensive modular training scheme.

Experts in the field from Germany, Denmark, Belgium, Norway, France, India, and the US, as well as Russian crypto specialists, have been invited to teach. The classes will be held in English in order to attract students from all over the world. The Russian university also hopes to acquire international certification and accreditation for its diplomas.

Three Russian Universities Add Crypto Courses and Diplomas

The new programs are being introduced after last year leading Russian universities announced specialized courses in cryptocurrencies and blockchain technologies. Among them are the Moscow State University, the National Research University Higher School of Economics, the National University of Science and Technology “MISiS”, the Moscow Institute of Physics and Technology, and the Saint-Petersburg State University of Economics. The introduction of these curriculums comes in response to the rising popularity of cryptocurrencies like bitcoin and also the strong demand for crypto and blockchain professionals in Russia.

Do you think the increasing number of crypto-related educational courses in Russia indicates a growing interest among Russians in a future career in the crypto space? Tell us in the comments section below.

Images courtesy of Shutterstock.

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This Week in Bitcoin: New Exchanges, Bancor Breach, Binance CEO vs Vitalik


This Week in Bitcoin: New Exchanges, Bancor Breach, Binance CEO vs Vitalik

The Weekly

In this week’s daily editions of Bitcoin in Brief we reported about a couple of new exchanges, a major security breach at Bancor, and why the Binance CEO came out against Ethereum founder Vitalik Buterin. This week’s most commented-on article covered the Nobel laureate economist Joseph Stiglitz, who predicted that cryptocurrencies will be “regulated into oblivion.”

Also Read: Robinhood Crypto App Adds Bitcoin Cash and Litecoin Trading

New US Exchange

On Monday we reported that the American crypto trading market got a little more competitive with a new exchange opening. HBUS, a strategic partner of Huobi, has begun accepting new user registrations by U.S. residents, supporting BTC, BCH, ETH, ETC, LTC, USDT, CVC, DASH and TUSD. Additionally covered, ASIC producer Bitmain has raised up to $400 million in its latest fundraising round valuing the company at $12 billion, and Binance donated $1 million to flood victims in Japan.

Bancor Breach

This Week in Bitcoin: New Exchanges, Bancor Breach, Binance CEO vs VitalikThe big story on Tuesday was that Bancor reported it had experienced a “security breach”. A wallet used to upgrade some smart contracts has been compromised and used to withdraw 29,984 ETH, worth approximately $12.5 million. “The same wallet also stole: 229,356,645 NPXS (~$1M) [and] 3,200,000 BNT (~$10M).” Bancor added that “once the theft was identified, we were able to freeze the stolen BNT”. The countermeasures raised questions about the decentralized status of Bancor which doesn’t square with the freezing of tokens and shutting down the network. We also reported that Irish entrepreneurs are setting up a new decentralized crypto exchange in Europe.

Google Founder Is a Crypto Miner

On Wednesday we reported that Sergey Brin, president of Google parent company Alphabet, revealed that he is a crypto miner. “A year or two ago my son insisted that we needed to get a gaming PC,” Brin said. “I told him If we get a gaming PC we have to mine cryptocurrency. So we got an ethereum miner on there and we’ve been making a few pennies and dollars since.” He added: “That definitely got me interested and I started to study the technology behind it and found it to be fascinating.” Additional stories included why Elon Musk is impressed by crypto scambots on Twitter, a response from Fcoin regarding fake volume allegations, and a $100 million venture capital fund for blockchain startups in Israel.

CZ vs Vitalik

This Week in Bitcoin: New Exchanges, Bancor Breach, Binance CEO vs VitalikThe main focus on Thursday was that Binance CEO Changpeng Zhao (CZ) has decided to publicly defend his industry from a verbal attack by Vitalik Buterin. The Ethereum founder expressed a deep hatred for the particular business model at the heart of the current crypto trading ecosystem, saying: “I definitely hope centralized exchanges go burn in hell as much as possible”. In his response, CZ’s core argument was that without centralized exchanges the field will develop ten times slower and will be ten times smaller. He additionally attacked the claim that decentralization is always better. Additionally covered were developments regarding two upcoming crypto phones.

Taiwanese Stablecoin

Amid the flood of new alternatives taking on Tether, on Friday we reported that another stablecoin has been introduced, this time by a company that operates one of the major payment processors in Taiwan. Green World Fintech Services says the crypto, pegged to the New Taiwan Dollar (NTD), is called Taiwan Digital Token (TWDT). Green World claims to have patented a dollar-to-token process that is supposed to protect the TWDT from fraud and money laundering risks. The project will be realized in cooperation with some established Taiwanese banks. The crypto accounts of TWDT users will be tied to “trusted bank accounts” in order to verify personal data before transactions are permitted. We also reported about a solution for handling your crypto portfolio for when you die.

Russians Used Bitcoin to Hack US Elections

This Week in Bitcoin: New Exchanges, Bancor Breach, Binance CEO vs Vitalik
Rod Rosenstein

On Saturday we reported on one of the biggest political stories in the world. According to a federal indictment announced by Deputy Attorney General Rod Rosenstein, Russian agents used bitcoin in their campaign to influence the outcome of the 2016 US elections. Authorities in Washington claim that hackers working for the Russian foreign military intelligence paid in crypto for servers in the US and Malaysia, website domains, and virtual private networks (VPNs) used to release information stolen from the Democratic camp and to obscure their identities and cover their tracks. They also laundered more than $95,000 through bitcoin. We also reported that a leading website for betting on horse racing has begun accepting bitcoin (BTC) and bitcoin cash (BCH) deposits.

“Regulated Into Oblivion”

The most commented-on article during the week covered Joseph Stiglitz, the former chief economist of the World Bank and Nobel laureate, who predicted that cryptocurrencies will be “regulated into oblivion” in the future. “You cannot have a means of payment that is based on secrecy when you’re trying to create a transparent banking system. If you open up a hole like bitcoin then all the nefarious activity will go through that hole, and no government can allow that.” Stiglitz added: “Bitcoin could easily be worth just $100 in 10 years. People in power will move to regulate anonymous transactions. That you can be sure of.”

This Week in Bitcoin Podcast

Catch the rest of this week’s news in the This Week in Bitcoin podcast with host Matt Aaron.

What other stories in the Bitcoin world caught your attention this week? Share your thoughts in the comments section below.

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Chile Appeals Court Rules in Favor of Crypto Exchange Against Bank


Chile Appeals Court Rules in Favor of Crypto Exchange Against Bank


In an ongoing dispute between banks and cryptocurrency exchanges in Chile, an appeals court has finally ruled in favor of one crypto exchange against one of the largest banks in the country. Five major banks have also separately responded to lawsuits against them in court.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Court of Appeals Ruling

Chile Appeals Court Rules in Favor of Crypto Exchange Against BankThe Fourth Chamber of the Court of Appeals of Santiago has ruled in favor of cryptocurrency exchange Orionx against Banco Estado for closing its account, local media reported. The ruling, which orders the only government-owned bank in Chile to reopen the exchange’s account, was published on Thursday.

The court decided that the bank’s action constitutes “an arbitrary and illegal action, which constitutes a deprivation of the right protected by Article 19 No. 2 of the Political Constitution of the Republic, that is, the right to equality before the law,” La Tercera quoted the ruling.

Chile Appeals Court Rules in Favor of Crypto Exchange Against BankBy closing the exchange’s account, the bank is preventing Orionx “from developing an activity that, although not regulated, does not prevent the bank from adopting less intensive security measures such as the development of effective monitoring and control programs before the final closure of the account,” Emol news outlet cited the ruling. The publication elaborated:

The document refers to breaches of contract and the impossibility of Banco Estado to determine that Orionx engages in money laundering with the currencies with which it operates.

While acknowledging the risks associated with crypto transactions, the court explained that businesses using them “as new forms of investment and payment…cannot necessarily be identified with the commission of criminal acts.”

Banks Responding to Lawsuits

A few lawsuits have been filed against the country’s major banks with the Court for the Defense of Free Competition (TDLC – Tribunal de Defensa de la Libre Competencia).

Chile Appeals Court Rules in Favor of Crypto Exchange Against BankOrionx sued six major banks last month for abusing their power and quashing its crypto payment business. Previously, another crypto exchange, Buda.com, filed a lawsuit against ten banks for closing its accounts and well as the accounts of another local crypto exchange, Cryptomkt. The antitrust court subsequently ordered three banks, including Banco Estado, to reopen the crypto exchanges’ accounts while the lawsuit is still pending.

On Friday, Diario Financiero reported that five banks have responded to the lawsuit against them before the TDLC. The banks are Santander, Banco de Chile, Banco de Crédito e Inversiones (Bci), Scotiabank, and Itaú. The exchanges allege that they abused their dominant position when they either closed the accounts of or denied opening them for crypto exchanges.

Santander wrote in its response letter that “the use of a current account would not be essential for the digital currency traders,” the publication conveyed.

Banco de Chile responded:

The closing of Cryptomkt’s current accounts is not based on the alleged danger of the activity carried out by the plaintiff or because it is not regulated by the authority, but…in the absence of concrete information that allows Banco de Chile to develop the due diligence in the matter of money laundering, since it is required to justify the transactions in the current accounts.

Bci denied any abuse of a dominant position, stating that it would be difficult to do so because crypto “is a practically decentralized market, with a large number of actors, according to public information available.”

What do you think of the Appeals Court’s ruling? Let us know in the comments section below.

Images courtesy of Shutterstock and Orionx.

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One Guy Controls the Lightning Network’s Biggest Node


One Guy Controls the Lightning Network's Biggest Node


BTC supporters were elated to discover recently that the Lightning Network’s (LN) capacity had spiked by 216 percent in just one day. Some individuals suspected the Build on Bitcoin conference had sparked more LN interest. However, onlookers have found the spike was due to a single node created by the owner of Shitcoin.com. According to LN explorers, the node holds more than 49 percent of the Lightning Network’s total funds.

Also read: Study Finds Cryptocurrency Rebalance Portfolios Outperform ‘Hodling’

Everyone is Talking About One Node That Holds More Funds Than 49% of the Entire Lightning network

One Guy Controls the Lightning Network's Biggest Node

There’s a new Lightning Network node on the block that has BTC supporters in a frenzy trying to figure out why one person has so much money on this nascent network. At the time of writing the so-called “≡ƒÆ⌐LN.SHITCOIN.COM≡ƒÆ⌐” holds 35.24 BTC or $220,000 USD at the time of writing. The node is operated by Andreas Brekken, the owner of Shitcoin.com who has detailed he plans on doing a review of the Lightning Network. Brekken’s Shitcoin.com reviews a wide variety of cryptocurrencies like IOTA, Tron, EOS, and Dash.

Brekken’s node is massive compared to the rest of the nodes across LN and on July 14 the node operator stated to his Twitter followers:

To make the Lightning Network truly decentralized, we must first become the Lightning Network.

One Guy Controls the Lightning Network's Biggest Node One Guy Controls the Lightning Network's Biggest Node

Supporters Afraid the Node May “Reduce People’s Trust in the Lightning Network”, While Some Are Using the Node for Routing, Even Though They “Don’t Trust the Guy” Operating It

Of course, LN supporters had a lot to say about Brekken’s node as some believed it was just an expensive marketing attempt for his review website. Some users even argued that Brekken might try to attempt some sort of “attack”.

One Guy Controls the Lightning Network's Biggest Node

“If he could somehow crash or reduce people’s trust in the Lightning Network, that would be a plus for his side,” explains one Reddit user. Oddly enough, one user explained that even though he didn’t trust Brekken, he’s been using the node for liquidity.

“I opened a channel with this node — it routes payments very well (loads of liquidity),” reveals another Reddit user.

I will not be receiving (only spending) via this channel as I don’t trust this guy — If you spend only — there is no need for watchtowers, or zero risk to your money.

All Eyes on One Node

Brekken hasn’t disclosed when his official LN review will be published or what type of testing he has been doing. Just recently he revealed how much money he’s made so far from routing, which turned out to be around $0.028 USD worth of BTC. It’s likely Brekken will follow through with a detailed review, but in the meantime, it’s safe to say many bitcoiners will be watching this node closely.

What do you think about the Shitcoin.com node on the Lightning Network? Let us know your thoughts on this subject in the comment section below.

Images via Shutterstock, Twitter, Recksplorer, and Shitcoin.com.

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Markets Update: HODLers Pray for Higher Lows, Prospective Coinbase Listings Rally


Markets Update: HODLers Pray for Higher Lows, Prospective Coinbase Listings Rally

Market Updates

The BTC markets are currently attempting to establish a higher low above $6000 after failing to break above resistance at $6800 at the end of June, whilst BCH appears to have bounced off the critical support area of $600 – $650 for the second time in 2018. In recent altcoin market action, Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX) have produced gains of roughly between 10% and 20% after Coinbase confirmed on the 14th of June that it is currently “exploring” listing said markets.

Also Read: Australian Bank Bans Use of Mortgage Funds for Crypto Speculation 

BTC Rangebound Between $5800 and $6800

Since gaining 18% from the 29th of June low of approximately $5800 to the local high of roughly $6840 on the 7th of July, the BTC markets have retraced by over 8% during the last seven days – with current prices hovering at approximately $6250.

Market sentiment is mixed, with price action currently testing a key support level on the daily charts after failing to break above the significant resistance area of approximately $6800, however, appearing to produce what could turn into an inverse head and shoulders formation – should support at $6200 hold, thus producing a higher low.

Looking at the stochastic RSI, one can see that both the 1-week, 1-day, and 12-hour charts appear heavily oversold – with the stoch RSI below the 20 threshold, whilst the 3-day chart is showing a retrace from a test of the 80 threshold.

BCH Markets Retrace Heavily in Recent Weeks

As of this writing, the BCH markets are sitting at approximately $700 after testing the critical support area of roughly $650 earlier this week.

Looking at the weekly charts, the markets have produced three weeks of sideways consolidatory action after losing nearly 60% of its value over the course of the preceding seven weeks.

When measuring against BTC, Bitcoin Cash currently appears to be forming a green doji candle after five consecutive weeks of downward momentum. As of this writing, BCH is trading for roughly 0.1125 BTC

Coinbase Considers Adding Five New Cryptocurrencies

Major exchange and cryptocurrency unicorn, Coinbase, has published a blog post announcing that it is currently “exploring the addition of several new assets” – specifically Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX). The news produced sharp bullish momentum across the aforementioned markets – with the fiat-value of said cryptocurrencies all posting quick gains of between roughly 10% and 20%.

The company states that it “will be working with local banks and regulators to add them in as many jurisdictions as possible,” adding that “Unlike the ongoing process of adding Ethereum Classic, which is technically very similar to Ethereum, these assets will require additional exploratory work and we cannot guarantee they will be listed for trading.”

The exchange claims to have announced the new prospective listings “internally at Coinbase and to the public at the same time,” emphasizing its intention to “remain transparent with [its] customers about support for future assets.”

Coinbase also notes that its “listing process may result in some of these assets being listed solely for customers to buy and sell, without the ability to send or receive using a local wallet,” elaborating that “We may also only enable certain ways to interact with these assets through our site, such as supporting only deposits and withdrawals from transparent Zcash addresses.”

Markets React to News of Prospective Listings

Despite Coinbase emphasizing that it “cannot commit to when or whether these assets will become available at this time,” the announcement of the prospective listings caused sudden bullish surges of over 9.5% across each of the cryptocurrency markets in question. Whilst each market currently appears to be consolidating, it is not yet clear as to whether the upward moves will evolve into meaningful longer-term rallies, or fail to produce anything more than short-term spikes.

The seventh-ranked cryptocurrency by market capitalization, Stellar, quickly gained 9.5% from approximately $0.1847 to $0.2023 in less than two and a half hours. When measuring against BTC, the markets gained from 2794 satoshis to 3244 satoshis. As of this writing, Stellar has a market capitalization of $3.76 billion, and is trading for $0.2 and 3209 satoshis.

Stellar, Coinmarketcap, Jul 8th – Jul 15th

Cardano, the eighth largest cryptocurrency by market cap ($3.5 billion), enjoyed a sudden gain of 11.5% from roughly $0.1265 to $0.1411 following Coinbase’s announcement. When measuring against BTC, the markets gained from 2036 satoshis to 2270 satoshis in just half an hour. ADA is now consolidating at approximately $0.1363 and 2185 satoshis.

Cardano, Coinmarketcap, Jul 8th – Jul 15th

Zcash, the twenty-first largest cryptocurrency with a market capitalization of $754.5 million, gained 17.5% from $157.5 to 185.1 and from roughly 0.02536 BTC to 0.02977 BTC in half an hour following the news of the possible Coinbase listing. As of this writing, ZEC is trading for approximately $173.4 and 0.02774.

Zcash, Coinmarketcap, Jul 8th – Jul 15th

0x, the twenty-fifth largest cryptocurrency by market capitalization ($521 million), responded with 15% bounce from approximately $0.87 to $1.00 and 0.0001395 BTC to 0.0001614 BTC over the course of two hours. ZRX is now trading for roughly $0.974 and 0.00015 BTC.

0x, Coinmarketcap, Jul 8th – Jul 15th

Basic Attention Token, the thirty-seventh largest cryptocurrency market with a total capitalization of $334.3 million, produced the strongest bounce of the markets confirmed to be in consideration for a Coinbase listing. BAT gained 19.3% from roughly $0.2777 to $0.3314 and 4464 satoshis to 5335 satoshis over the course of one and half hours, before producing a secondary high of $0.3403 and 5466 satoshis three hours later.

Basic Attention Token, Coinmarketcap, Jul 8th – Jul 15th

Which markets do you think Coinbase will list? Join the discussion in the comments section below!

Images courtesy of Shutterstock, Trading View, Coinmarketcap

Want a comprehensive list of the top 500 cryptocurrencies and see their prices and overall market valuation? Check out Satoshi Pulse for all that hot market action!

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Bitcoin.com Celebrates 2.5 Million Wallets Created in Less Than a Year



This week Bitcoin.com reached a milestone of a whopping 2.5 million Bitcoin.com Wallets created in less than a year. Since we started our web portal we’ve focused on providing people with world-class resources that fit every bitcoiner’s needs and our simple-to-use wallet is no different.

Also read: Bitcoin.com and Purse.io Bolster Spending Giving New Shoppers $10 in BCH

The 2.5 Million Milestone is the First Step Towards Our Goal to Provide a World-Class Cryptocurrency Wallet to Billions of People

The Bitcoin.com Wallet was launched on August 25, 2017, just a few weeks after the Bitcoin blockchain split that took place on August 1. Since then our light client that supports both Bitcoin Cash (BCH) and Bitcoin Core (BTC) has become very popular and the amount of wallets created in so little time has been thrilling to watch. We think that the popularity of our wallet is due to the fact it is so easy to use, and you can send bitcoin wherever you are in the world. Not only that but our lightning fast wallet is safe and secure while at the same time allowing individuals to hold their private keys in a non-custodial fashion.

Bitcoin.com Celebrates 2.5 Million Wallets Created in Less Than a Year
The Bitcoin.com Wallet can be downloaded for iOS, Android, Mac, Windows, and Linux.

Further, the Bitcoin.com Wallet comes with a myriad of features that allow individuals to do more than just send and receive cryptocurrencies. The Bitcoin.com Wallet is also tethered to our first class blockchain explorer so you can verify all of your transactions. Moreover, we provide real-time charts, and a portal where you can purchase bitcoins effortlessly. Our client also enables users to create shared wallets that utilize the innovation of multi-signature technology. Meanwhile, Bitcoin.com’s wallet provides a shapeshifting feature where users can swap between BCH and BTC effortlessly by utilizing the popular Shapeshift API.

Bitcoin.com’s wallet product manager, Alfonso Rocha, was pumped to see how popular the client has become and he believes 2.5 million wallets created in eleven months is a landmark occasion.

“We are so pleased that 2.5 million wallets have been created. It just shows how many people find our wallet useful and proves that it’s the best place to use and store their bitcoin cash — People trust us,” Rocha detailed.

We are also continuously working every day to make sure we have the best wallet out there. The quality of what we produce is as important to us as it is to our customers.  

Bitcoin.com Celebrates 2.5 Million Wallets Created in Less Than a Year
Increase the security of your funds by sharing wallets with multi-signature technology, or effortlessly change cryptocurrencies using the integrated Shapeshift API.

Open Source and Available for Your Operating System Today

Alongside all these features, the Bitcoin.com Wallet is open source so individuals can review the client’s source code on Github at any time. So if you are looking for an easy-to-use bitcoin wallet that allows you to store your own private keys then the Bitcoin.com Wallet is the perfect choice for your storage needs. The innovative light client is available today for iOS, Android, Linux, Windows and OS X devices.

Here’s a rundown of just a few of the benefits the Bitcoin.com Wallet offers:     

  • Multiple wallet creation and management in-app
  • Creates both Bitcoin Cash (BCH) and Bitcoin Core (BTC) wallets by default
  • Intuitive, multi-signature security for personal or shared wallets
  • Easy spending proposal flow for shared wallets and group payments
  • BIP32 Hierarchical deterministic (HD) address generation and wallet backups
  • Device-based security: all private keys are stored locally, not in the cloud
  • Customizable wallet naming and background colors
  • Multiple languages supported
  • Support for over 150 currency pricing options and unit denomination in BTC or bits.
  • Lightning fast transactions.

Have you tried the Bitcoin.com Wallet? Let us know what you think about the wallet in the comment section below.

Images via Shutterstock, and Bitcoin.com. 

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Indian Central Bank Justifies Its Crypto Stance – Outlines Key Areas of Concern


Indian Central Bank Justifies Its Crypto Stance - Outlines Key Areas of Concern


The Reserve Bank of India has justified its crypto banking ban to an industry group which has been trying to convince the central bank to ease crypto restrictions. In response, the central bank outlines key areas of concern and upholds its stance on crypto.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

RBI’s Main Concerns

Indian Central Bank Justifies Its Crypto Stance - Outlines Key Areas of ConcernIndia’s central bank, the Reserve Bank of India (RBI), has divulged key areas of concern regarding cryptocurrency. The communication is in response to a representation submitted by the Internet and Mobile Association of India (IAMAI). The document was sent to the central bank during the Supreme Court hearing of IAMAI’s petition against the crypto banking ban.

While RBI’s response cannot be made public, some industry participants have seen it and have discussed its content.

A source who has seen the document told news.Bitcoin.com that RBI told IAMAI it is particularly concerned about investor protection, cryptocurrencies’ lack of intrinsic value, and their anonymity, which could lead to money laundering.

Investor Protection

Indian Central Bank Justifies Its Crypto Stance - Outlines Key Areas of ConcernSohail Merchant, CEO of crypto exchange Pocketbits, commented on RBI’s response, stating that “all the basis of their arguments is ‘Investor Protection’.”

Nischal Shetty, CEO of crypto exchange Wazirx, concurred. “Some of the arguments seem to be around investor protection,” he noted, adding that “but investor protection comes with regulation and not a ban!”

Other crypto exchanges also agree that a ban is not the way to protect investors. Praveen Kumar, CEO of crypto exchange Belfrics, was quoted by Quartz:

By limiting transactions via bank accounts and allowing more cash-related transactions, RBI is allowing more people to get duped…Instead, they need to regulate the exchanges and lay down guidelines that can help prevent these frauds.

In addition, the source shared with news.Bitcoin.com that, “exchanges have been hacked globally and that worries them.”

There has been a rise in crypto-related scams in India. Even BJP party leaders have been accused of being involved in a bitcoin scam. Recently, the Indian state of Maharashtra announced that it is setting up a special investigative unit to investigate all crypto-related cases.

No Intrinsic Value

Indian Central Bank Justifies Its Crypto Stance - Outlines Key Areas of ConcernThe central bank is also concerned that “cryptos have no intrinsic value,” the source added.

RBI’s view reiterates the statement issued by the country’s finance ministry in December last year. Aimed at warning people of the risks of investing in cryptocurrencies, claiming that they are “like Ponzi schemes,” the statement reads:

VCs [virtual currencies] don’t have any intrinsic value and are not backed by any kind of assets. The price of bitcoin and other VCs therefore is entirely a matter of mere speculation resulting in spurt and volatility in their prices. There is a real and heightened risk of investment bubble of the type seen in ponzi schemes….

Anonymity of Crypto

The third major factor of concern for RBI is the “anonymity of crypto leading to money laundering,” the source noted.

However, exchanges argue that strict adherence to know-your-customer (KYC) norms would prevent money laundering, Quartz elaborated and quoted them clarifying, “all transactions are usually carried out via bank account transfers to keep a tab on the money trail.”

India is also not the only country concerned about the anonymity of crypto. Japan, where cryptocurrency is a legal means of payment, is another. The country’s top financial regulator has reportedly been pressuring exchanges such as Coincheck, which was hacked in January, to drop privacy coins.

What do you think of RBI’s concerns? Let us know in the comments section below.

Images courtesy of Shutterstock and the Indian government.

Need to calculate your bitcoin holdings? Check our tools section.

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