Byteball Started Rising Again

Blockchain is a very successful technology that aims to disrupt markets worldwide however, there is a new technology with ground breaking potential in this domain. DAG (directed acyclic graph) is one of the main competitors to Blockchain technology. Unlik

What Is Zodiac?

There can never be enough competition among cryptocurrency exchanges. Even though the number of decentralized markets is increasing, Zodiac will be a centralized solution targeting the retail market. The Zodiac Cryptocurrency Exchange It is quite interest

Why The Monolith Isn’t Dead

With all the talk and content praising the microservices design approach, you might think the monolithic architecture is outdated and inefficient, but don’t limit your options when it comes to your application and, indeed, your company. In certain circumstances, a monolithic design is ideal, said Steven Czerwinski, a former Google employee and current head of Engineering at Scalyr, a server log metrics and monitoring systems developer.

Finland to Auction 2,000 Bitcoins Seized in Silk Road-Linked Drug Busts

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Finland’s government is preparing to hold its first Bitcoin auction. The Treasury Department has recommended that the government auction off the approximately 2,000 BTC it seized in connection with drug busts nearly two years ago, according to a report from Finnish-language media outlet Helsingin Sanomat. “We recommend public auction for the [sale of the] bitcoins. … Continued

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Crypto Bloodbath: Bitcoin Cash (BCH) and Litecoin (LTC) Plummet

Bitcoin Cash (BCH) and Litecoin (LTC)

It’s a bloodbath out there with a bunch of cryptos barely staying afloat in a sea of red. Out of the top ten cryptos, Bitcoin Cash (BCH) and Litecoin (LTC) are suffering the most, experiencing major losses.

The crypto market has had a rough start to the week. What began as a few coins being down led to the majority yesterday being down and more joining the dumps as the day went on. Now, all but three coins within the top 100 tokens are down in what looks to be a major crypto selloff.

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PR: Bitcoin Holders, Please Claim Your BCP and BCPC, as They Will Be on Exchanges Soon

Claim Your Bitcoin Parallel

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

The mainchain energy coin BCP and the sidechain clearance coin BCPC belongs to Bitcoin’s Parallel Ecosystem. All Bitcoin holders of BTC chain at the block height 507,000 on January 30th 2018 have the privilege to claim their BCP and BCPC coins for free from February 12th 2018.

The claiming rate started from 1 BCP and 1,000 BCPC per BTC and would decrease afterwards day by day. 24 hours after 9:00:00 GMT February 12, 2018, BCP and BCPC has entered into a phase that is reduced by 2% every 24 hours. Then after being decreased to 50%, the distribution rate will enter into the second phase, decreasing by 1% every week until it finally becomes zero. Therefore, Bitcoin holders who have not yet claim the coins please visit our official website to apply for coin claim as soon as possible, as the amount of BCP and BCPC claimable will decrease every day.

If you have difficulties in the claiming process with your BTC wallet, please pay close attention to our official social media and official website, we will issue Guidelines for Bitcoin holders to claim BCP and BCPC.

In addition, for those who have successfully received BCP & BCPC or have joined our mining groups, please keep your wallet safe. The corresponding BCPC applications will be developed on the BCP main chain around June to July 2018. BCP and BCPC is scheduled to go to exchanges in the near future and the applications will be released correspondingly.

For further information, please visit our official website: www.bitcoinparallel.org

Bitcoin Parallel Foundation

Contact Email Address
foundation@bitcoinparallel.org
Supporting Link
www.bitcoinparallel.org

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. 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 content, goods or services mentioned in the press release.

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Venezuela Launches “Petros” Cryptocurrency Amid Growing Skepticism

Venezuela Launches “Petros” Cryptocurrency Amid Growing Skepticism

With crushing debt and a starving population, the Maduro government in Venezuela is launching what it says is the world's first sovereign cryptocurrency.

The cryptocurrency is designed to bypass U.S. government sanctions against the socialist regime. The “Petros” cryptocurrency will have an initial value tied to the price of a barrel of Venezuelan crude oil in mid-January, which was $60 per barrel, with a target of 100 million Petros to be sold.

The U.S. Treasury Department warned that the move may violate last year’s sanctions, while Venezuelan opposition leaders say the sale constitutes an illegal issuing of debt.

After the first day of trading, President Maduro claimed to have raised $735 million. State officials are claiming a 5x increase in traffic to the website, but some critics, including Venezuelan product designer and cryptocurrency writer Alejandro Machado, are skeptical.

In speaking with Bitcoin Magazine, Machado commented that he was unable to find any transactions on the blockchain regarding Petros and, while the token was originally slated to be released on the Ethereum network, it since has transitioned to NEM.

“The government hasn't confirmed that this is the address, but they confirmed they're using NEM, and it's the only mosaic matching the Petro description,” Machado said. “The mosaic's metadata also uses similar phrasing to the white paper.”

Machado has been writing about the upcoming Petros since early December 2017, remarking, “Many think it’s yet another episode of empty propaganda, but I profoundly disagree: chavismo is facing the existential danger of running out of funds, and they’re betting heavily on the Petro.”

His skepticism about the plan runs deep: “No doubt aware of their terrible track record, the government is incentivizing participation in the private sale by offering a 60% discount. What company in the world would sell 38 million units of a product for less than half their market value? A company that doesn’t intend to ship you the product after you buy, of course.”

With $150 billion in foreign debt, quadruple-digit inflation, the collapse of their oil output, and crushing sanctions by the U.S. and the EU, the Venezuelan government has become increasingly creative in ways to generate revenue. Petros represent nothing more than a promise against the 300 million barrels of oil that Venezuela believes they can recover but have yet to pull from the ground. There is an additional problem that U.S.-based investors purchasing the Petros would be in violation of American sanctions and could find themselves in trouble with Uncle Sam.

This article originally appeared on Bitcoin Magazine.

Crypto Olympics: Bitcoin (BTC) vs. VeChain (VEN)

Crypto Olympics

Welcome to the Crypto Olympics: Day 12

Check out Day 11 of the Crypto Olympics

Coin vs. Coin – who will be crowned the Crypto Olympics Champ?

Today is going to be a challenge for our competitors, who will have to race through a sea of red on the crypto markets right now. All coins but two in the top 100 are down right now. Looks like this race might come down to whoever can lose the least! Today, our competitors are Bitcoin (BTC) and VeChain (VEN).

In case you’ve missed it, ...

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Bitcoin Price: The Bull Run Ends

Bull Run Ends

The Bull Run Ends: Finally bulls lost their momentum after a two-week rally – which doubled the Bitcoin (BTC) price from the lows seen on Feb 6. Bitcoin, Ripple (XRP), Ethereum (ETH) and the remaining top 20 currencies all posted significant losses today, and only Monero seems untouched by the crash.

Bitcoin price was close to hitting the $12,000 mark yesterday; but BTC price took a big U-turn today, dipping more than 8% to the level of $10,700.

Bangladesh and U.K. Ended the Bull Run

The crackdown on bitcoin traders in Bangladesh ...

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Bafin Clarifies Stance on ICOs as More Germans Ask About Tokens

Bafin Clarifies Stance on ICOs As More Germans Ask About Tokens

Germany’s financial regulator has clarified its position on initial coin offerings. Bafin admitted it was receiving many inquiries about the status of tokens and cryptocurrencies distributed to investors through ICOs. The federal agency advised interested parties to refer to regulations applicable to traditional financial instruments and comply with current requirements. A new survey found out that more than two thirds of Germans know about bitcoin.   

Also read: Italy Completes Consultations on Registration of Crypto Companies

Revelation: Tokens Are Securities, Shares and Units of Account

In an advisory letter, the Bundesanstalt für Finanzdienstleistungsaufsicht (Bafin) provides some basic definitions of ICOs and related terms. A company or an individual issues tokens and sells them in exchange for traditional currencies, such as the Euro, or more commonly virtual currencies like bitcoin or ether, the agency explains. Bafin educates the public that tokens are typically generated using distributed ledger or blockchain technology, and ICOs are used to raise funds for startup projects.

Bafin Clarifies Stance on ICOs As More Germans Ask About Tokens

The federal financial supervisory authority advises participants in ICOs to check and follow rules applicable to regulated financial instruments, such as securities. Individuals and businesses should approach Bafin in case they have any doubts about regulations. The note clearly states that for regulatory purposes, ICOs, tokens, coins and cryptocurrencies are subject to the existing provisions in the field of securities supervision and other relevant national and EU laws.

Companies should also fulfil any obligations under the Banking Act and the Capital Investment Code, the Insurance Supervision Act and the Payment Services Supervision Act. Bafin’s Department of Licensing will investigate cases in which special permissions may be required. If relevant regulatory requirements are not met, respective projects or transactions may be prohibited. In addition, such violations may constitute administrative offenses and result in fines.

The legal classification of tokens requires precise examination, Bafin says. Depending on their design, tokens can be defined as securities, shares or used to issue derivatives. The supervisory body will determine their status on a case-by-case basis after studying their features. German regulators also note that a token can be both viewed as a financial instrument and a unit of account. In order to be classified as a security, it should be transferable and tradable on cryptocurrency trading platforms referred to as financial markets. Bafin recognizes that token transfers are documented on a distributed ledger or using blockchain technology.

Majority of Germans Know About Bitcoin

Over two thirds of Germans know about bitcoin, with one in five admitting interest in using the cryptocurrency, a recently published study revealed. The survey was conducted by Germany’s digital association Bitkom, which said curiosity and dissatisfaction with official monetary policies were the main reasons for the findings.

Bafin Clarifies Stance on ICOs As More Germans Ask About Tokens

Rapid gains in bitcoin, but also reports of spectacular thefts, frauds and market fluctuations, have caught the attention of German citizens. Now, 64% of them admit they have heard of the most popular cryptocurrency, twice as many as in 2016. Despite that, only 4% have used it so far, almost a fifth of the respondents, 19%, say they can imagine acquiring bitcoin. According to Bitkom’s Chief Executive Bernhard Rohleder:

Bitcoin and other cryptocurrencies are good examples how digitization can change the financial industry.

Discontent with policies of central banks and the search for alternative currencies are major drivers of interest in bitcoin (37%). Desire to use cryptocurrency in online payments is another important factor (31%). Only 6% say they have been motivated by expectations to increase their wealth through rising bitcoin prices.

“Cryptocurrencies will enable micro transactions in the Internet of Things in the future. The service of charging an electric car, for example, can be automatically agreed and paid for without the driver having to deal with it”, Dr. Rohleder says.

A quarter of those interviewed (26%) complain that acquiring bitcoin is too complicated because one needs access to a cryptocurrency exchange. 19% of Germans admit they don’t know how and where they can buy bitcoin. One in five is afraid that crypto holdings can be stolen.

Do you think that Bafin’s advisory letter will help spread awareness about cryptos and tokens in Germany? Tell us in the comments section below.


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Hackers Cryptojack Tesla’s Cloud to Mine Monero

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According to RedLock, a boutique tech security consultancy, crypto-jacking is set to become one of the biggest security concerns for enterprise computing worldwide. RedLock’s latest research noted a changing security context; one that underpins a changing landscape from data theft to computational power theft. Tesla, a RedLock client, was reportedly a victim of a serious crypto-jacking … Continued

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