Safeguarding Investments: Cryptimi.com Offers the Solution

Safeguarding Investments: Cryptimi.com Offers the SolutionAnyone venturing into the digital currency scene understands the significance of performing analyses to evaluate potential gains. Security breaches and hacking are a constant risk when it comes to the realm of cryptocurrencies. Nevertheless, the level of security and protection offered by the trading platform chosen is often overlooked. Consequently, this oversight has so far […]

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ConsenSys Partnering with Hitachi for PegaSys Plus Sales in Japan

Hitachi Solutions announced they had partnered with ConsenSys to begin selling their PegaSys Plus product in Japan starting April 1.

Hitachi Solutions will be the first company in Japan permitted to conduct sales of blockchain software technology company ConsenSys’ product PegaSys Plus starting on April 1.

According to a March 30 press release, Tokyo-based Hitachi announced it would work in collaboration with U.S.-based ConsenSys to provide PegaSys Plus to the Japanese market. An Ethereum (ETH)-based blockchain platform, PegaSys Plus is a commercial license version of the ConsenSys product offering additional features and support. 

Japanese blockchain market has potential

ConsenSys Founder and CEO Joseph Lubin commented on the collaboration between the two companies:

“We think Japan has the potential to be one of the fastest growing blockchain markets in the world over the coming years, and I am eager to drive that growth with Hitachi. We are committed to bringing our stack of products to Japan and working with the best partner possible to make Japan a global leader in the space.”

Among its blockchain services, Hitachi provides solutions that provide total support for the introduction, construction, operation, and development of distributed applications utilizing Pegasys Plus. The global IT firm intends to use the platform built on Hyperledger Besu to streamline operations related to digital asset trading, electronic coupons, supply chain management, and certification.

Japan dealing with crypto bloodbath fallout and possible lockdown 

Even in the midst of talk of shutting down Tokyo due to the spread of COVID-19, there is positive blockchain news for Japan. Those registering for accounts with one Japanese cryptocurrency exchange increased in the week following the crypto bloodbath, indicating investors may have bought the dip.

Free from Tron: Steemit’s Blockchain Fork Hive Outperforms Steem Token Value

Free from Tron: Steemit’s Blockchain Fork Hive Outperforms Steem Token ValueFor weeks now, the cryptocurrency community has been fervently discussing the recent acquisition of the Steemit blockchain. Skeptics believe that the Tron takeover has shown significant vulnerabilities with delegated-proof-of-stake (DPoS) projects. Following the takeover, the community still managed to fork the protocol and the new hard-forked blockchain dubbed ‘Hive’ has seen its token price outperform […]

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Network of Fake Bitcoin QR Code Generators Stole $45,000 in March

A security researcher identified nine fraudulent BTC address QR code converters that have stolen 7+ BTC in four weeks.

A network of malicious QR code generators has stolen more than $40,000 from Bitcoin (BTC) users in one month.

At least nine fake Bitcoin-to-QR code generators have been spotted in recent weeks, with security researcher, Harry Denley, first tweeting that he had identified two domains hosting fake QR code applications on March 22.

Denley later identified seven other domains sharing the same interface — suggesting that they are all created by the same developer.

Fake Bitcoin QR code generators steal over 7 BTC

The malicious programs promise to convert a user’s Bitcoin address into a QR code, claiming to eliminate the risk of the user losing their funds as a result of typos when entering or sharing their address — a service offered by every popular block explorer and most mobile wallet applications.

However, the QR code generated by the programs is always the same address — diverting the victims’ funds to the malicious program’s developers. The supposed QR generators correspond to five different wallets, which have absorbed more than seven BTC, likely from the apps’ victims. 

The malicious websites are bitcoin-barcode-generator.com, bitcoinaddresstoqrcode.com, bitcoins-qr-code.com, btc-to-qr.com, create-bitcoin-qr-code.com, free-bitcoin-qr-codes.com, freebitcoinqrcodes.com, qr-code-bitcoin.com, and qrcodebtc.com.

‘Bitcoin transaction accelerators’ accumulate 17.6 BTC

The websites are hosted by three different servers that collectively host roughly 450 other websites that appear sketchy — with the sites featuring keywords related to coronavirus, Gmail, and various cryptocurrencies.

Among the sites are several purported “Bitcoin transaction accelerators,” which claim to speed up BTC transfers in exchange for a 0.001 BTC. The BTC addresses associated with the supposed ‘accelerators’ have absorbed more than 17.6 BTC — taking in nearly $110,000.

Crypto scams capitalize on coronavirus fears

Opportunistic scammers have sought to capitalize on the COVID-19 pandemic — with UK county regulators, the Texas State Securities Board, and the US Commodity Futures Trade Commission issuing warnings about the proliferation of coronavirus crypto scams over the past week.

Recent scams have also impersonated the World Health Organization in an attempt to siphon donations, and taken the form of apps purporting to track the spread of coronavirus.

US Lawmaker Claims Stimulus Bill Bolsters Fed Secrecy, Pork Funds, and Wall Street Bailouts

On Friday, U.S. bureaucrats passed the 2020 stimulus bill, which has become the largest cash injection package ever created by the federal government. However, following the bill making it through the Senate and House, Republican representative Thomas Massie told the public the stimulus bill bolsters a shroud of secrecy surrounding the Federal Reserve. Moreover, within […]

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India Crypto Renaissance: Industry Sees Rebirth as RBI Crypto Ban Lifts

The industry is seeing a renaissance following India’s Supreme Court revoking the RBI’s crypto ban, but there is still a long way to go.

Among industry participants and investors, India is emerging as a market to watch for following the overturn of a crypto ban that was placed by the Reserve Bank of India back in April 2018. The prominent investors looking to get a piece of India’s nascent crypto space include Tim Draper, a billionaire investor who obtained thousands of Bitcoin from 2014’s Silk Road auction.

Draper recently said that he has “met several Bitcoin and crypto startups” from India and that he “hopes to be able to fund a number of them.” He also recently showed his excitement for the move by the Supreme Court of India in striking down the Reserve Bank of India’s ban on financial institutions providing crypto related services, tweeting, “A Renaissance for India. Now crypto is legal.”

Local firms spring into action

Apart from Draper, other investors who have shown interest in India’s crypto market include crypto exchange CoinDCX. On March 12, CoinDCX announced $1.3 million in funding that would be used to increase crypto awareness and adoption in India. The exchange is looking to spearhead a long-term project called TryCrypto in an effort to introduce 50 million consumers in India to cryptocurrencies.

CoinDCX was established in 2018 and already boasts of a recently closed Series A funding round led by Polychain Capital, HDR Group (BitMex operators) and Bain Capital Ventures, to mention just a few.

The Mumbai-based exchange secured $3 million in funding, to which its CEO Sumit Gupta said, “This successful investment round will go a long way in funding our vision of accelerating India’s growth into a $5 trillion economy.”

Also convinced of the potential held by India’s crypto market is Binance, one of the largest crypto exchanges in the world. In November last year, Binance purchased WazirX, an Indian crypto exchange. The move was applauded by Indian crypto experts such as Kashif Raza as one that will give “a morale boost to India’s startup scene.”

With the backing of Binance Coin (BNB) and Binance USD (BUSD), WazirX has set up $50 million in funds intended to go to local blockchain projects. CEO Nischal Shetty said, “With this fund, we want to encourage and enable more and more founders and teams to come in and build. This initiative also shows the incredible potential that the Indian blockchain ecosystem has to offer.”

What makes India’s crypto space ripe for investment?

It is evident that the recent interest from investors and companies toward India’s crypto market is as a result of the March 4 ruling by India’s Supreme Court. The ban that had previously been placed by the Reserve Bank of India on all crypto-related bank services was declared unconstitutional, much to the reprieve of the country’s crypto community. However, in addition to the court ruling, industry watchers and experts believe there is more to India than a seemingly positive regulatory environment.

Sharat Chandra, an advisor on emerging technologies, believes that what makes India a good market for a crypto renaissance is the fact that the country is home to nearly 190 million unbanked individuals. 

Chandra told Cointelegraph that, “Crypto startups can bring those unbanked into the banking fold and further the cause of financial inclusion.” He added, “India retains the top spot when it comes to foreign remittances, and crypto can not only reduce turnaround time but bring down remittance costs drastically.” Gupta agrees with Chandra, pointing out to Cointelegraph:

“India has 1.3 billion population out of which only 5 million are in crypto, which equates to 0.4%. Even with 0.4% of the people in crypto, Indian crypto market has a good volume of daily crypto trading. CoinDCX is witnessing daily volume of $10–15 million, which shows that there is huge potential for growth.”

Dileep Seinberg, the CEO and founder at Exioms — a Delhi-based blockchain solutions provider — also weighed in on the matter, telling Cointelegraph:

“India has 3 key elements that make it a good and large market. First, the young generation of users who can operate and trust the internet and mobile-based Apps for financial transactions. Second is penetration of 4G and faster internet services everywhere in India and third is the access of smartphones at very low cost.”

Not yet out of the woods

Despite the optimism shared by India’s crypto community, regulatory uncertainty still persists. According to Sharat Chandra, “The war against RBI’s cryptocurrency ban was on flimsy grounds and the RBI can very well challenge the verdict of the Supreme Court of India.”

Already, the reserve bank of India is planning to file a petition against the recent ruling by the Supreme Court on the controversial crypto ban. A report by the Economic Times shows that the RBI fears a crypto renaissance in the country threatens the country’s banking system. Furthermore, the ruling on a pending bill by India’s parliament can still introduce an exclusionary legislative apparatus for crypto and blockchain related businesses. 

Related: Bitcoin Price Correlates With Traditional Assets, but Not Entirely

To add to all this, the current coronavirus pandemic has dealt a blow on the entire crypto market as well as the global economy. Chandra, however, believes that people are optimistic, even if the recovery in digital asset prices might take longer than expected. Gupta opined that, “Less than 1% of the global world population is in crypto assets. This means the crypto market is largely uncorrelated to major global assets in the world such as stocks, bonds etc.” He added:

“We have seen a downward trend in crypto market prices after the Covid pandemic but people still have faith in crypto and are dealing and investing in the crypto market. Bitcoin’s hashrate is still at 105 Ehash/s which shows people continue to believe in Bitcoin. And as Bitcoin drives the overall crypto market in terms of prices, this proves people have faith in the crypto market.” 

Full steam ahead?

Despite a lingering cloud over the future of cryptocurrencies in India, industry watchers like Seinberg and Gupta share optimism that a bright future is around the corner. Seinberg believes:

“Going forward in the next 2–3 years, India will have its own Cryptocurrency at the place. RBI is focusing on Innovation and NPCI has already launched Vajra Blockchain Platform for wider adoptions.”

Seinberg also believes that, “The recent visit of Tim Draper to India and the commitment of new investments will inspire and build confidence on Indian Institutional Investors.” On the other hand, Gupta said that winning the court case is just the first step, adding, “Now, the next big push is to incorporate smart and sensible crypto regulations in India.” With emerging reports of plans by the Indian government to regulate cryptocurrencies, Gupta believes:

“This is the step in the right direction as having correct regulations in place will help to open up and boost many crypto businesses in India. Additionally, individuals will be open to investing in cryptocurrencies.”

Vermont Rapper Releases Hip Hop Track ‘#Freeross,’ Ulbricht Petition Nears 300K Signatures

Southern Vermont-based hip-hop artist, Krypto Man, has released a new single called “#Freeross” in hopes to get Ross Ulbricht released from prison. Krypto Man is a well known rapper on the east coast and revenue from the song will be donated to the nonprofit Freeross.org. Ross Ulbricht has also gathered more than 279,000 signatures so […]

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Pantera Capital CEO: BTC Will ‘Come of Age’ in Crisis, May Top All Time High

In a letter to Investors, CEO Dan Morehead played down concerns about COVID-19’s impact on the crypto market and said he was bullish on BTC.

Pantera Capital Founder and CEO Dan Morehead has predicted Bitcoin will “come of age” during the 2020 financial crisis and may top its all time high price within 12 months.

The San Francisco-based blockchain and cryptocurrency hedge fund founder made the comments in a March 25 letter to investors examining the fallout from the COVID-19 financial crisis.

Morehead offered a grim prediction for the economy and said he believes the global economy is about to enter its first ever period of negative growth. “I now believe that the recession is likely to be larger than any post-War recession,” he said about the U.S. economy.

“I have spent 35 years trading global macro disruptions. This is like no other. This will certainly end the longest global expansion on record. It is likely to have a larger global economic impact than any downturn in recent memory.”

Bitcoin will recover in stages

Morehead noted that Bitcoin has been correlated with the sharemarket in this and other market downturns. However, he said the cryptocurrency tended to be less correlated after the first month or two of stock market price falls.

“We now believe that the short-term high correlation with general markets is over and that crypto will trade independently.”

He likened Bitcoin to bonds, which tend to shine in times of market turmoil, and predicted BTC will recover in stages before reaching a new all-time high:

“The price of Bitcoin may set a new record in the next twelve months. It’s not going to happen overnight. My best guess is that it will take institutional investors 2-3 months to triage their current portfolio issues. Another 3-6 months to research new opportunities like distressed debt, special situations, crypto, etc. Then, as they begin making allocations, those markets will really begin to rise.”

The Pantera Capital founder did not predict a price, however he has previously said that BTC has the potential to reach $356,000 within a couple years.

Investors look to Pantera during a volatile market

As the first Bitcoin fund in the United States, Pantera was quick to see the potential in cryptocurrency and raised $13 million for its debut offering in 2013, and $25 million for its second. 

While the CEO admits nothing is certain, he believes dark times see a flight of capital to quality, and that Bitcoin is well placed to benefit as the market leader for 11 years. 

“Bitcoin was born in a financial crisis. It will come of age in this one.”

4 Virtual Crypto Conferences You Can Attend From Home

4 Virtual Crypto Conferences You Can Attend From HomeThe crypto industry has had to quickly adapt to the escalating coronavirus pandemic, with major conferences postponed, canceled or hastily reformatted for the virtual realm. Due to its disproportionately high number of remote workers, though, the industry is more geared up for this new paradigm than many other sectors. Here are four virtual crypto events […]

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Japanese Investors Rushed To Buy The Dip After Bitcoin Bloodbath

The number of retail investors registering for an account with Japanese cryptocurrency exchange bitbank spiked by 40% in the week after the Bitcoin bloodbath.

The number of retail investors registering for an account with Japanese cryptocurrency exchange bitbank spiked by 40% in the week after the Bitcoin bloodbath. 

The March 12 meltdown saw the price of Bitcoin (BTC) drop to a new 2020 low at $3,775. An official blog post by bitbank market analyst Yuya Hasegawa reveals that Bitcoin trade volume and account registrations both saw a significant surge in the wake of the crash.

Even the number of users going through KYC was above average on the day of the BTC downturn and the following couple of days.

Hasegawa contrasts the current situation to the period between November to December 2018 when the price of Bitcoin ground down. In that case, “interest in the crypto market as a whole went down and bitbank’s daily account registrations took a hit.”

However, the price saw a 60% rebound while sustaining high volumes soon after the recent crash, which suggests to Hasegawa “the intent to buy the dip is quite obvious”:

“When we take the increased daily account registrations into consideration, we can once again deduce that the current market recovery is driven largely by retail investors. Furthermore, as Forbes reports, this phenomenon is likely to be global, as Kraken, a San Francisco-based crypto exchange, experienced a steep increase in account registrations after March 12.”

Bitcoin halving makes it a safe bet

In just under 49 days, BTC will experience a halving where the block reward will decrease to 6.25 BTC. The last time this happened was in 2016.

Hasegawa writes that data from Google Trends suggests that investors in Japan and around the world are well aware of the possible price impact of the halving and will seize on any price drop to add to their holdings:

“There is a good chance that, for this time around, there are many retail investors who want to buy Bitcoin or stack up their holdings at the cheapest price possible before its halving.”

$2 Trillion for Surveillance Capitalism – US Government Promises $1,200 to Every American

On Wednesday, U.S. Congressional leaders had seemingly come up with a stimulus deal at around 1 a.m. EST. The package will cost upwards of $2 trillion and politicians are promising direct payments of $1,200 per American if they make $75,000 or less. The dollar injection will be the largest financial measure ever enacted by Congress […]

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