Infamous Hacker George Hotz Calls Bitcoin Cash the ‘Real Bitcoin’

Infamous Hacker George Hotz Calls Bitcoin Cash the "Real Bitcoin"

Well-known American hacker George Hotz, also known as Geohot, has been talking extensively about cryptocurrencies lately, and more specifically about bitcoin cash. On Wednesday, Oct. 17, Hotz published a cryptocurrency programming video using bitcoin cash and showed people how to send a BCH transaction from scratch using the Python programming language.

Also read: BCH Devcon Streamlines Bitcoin Innovation in San Francisco

Geohot Hacks With Bitcoin Cash

Infamous Hacker George Hotz Calls Bitcoin Cash the “Real Bitcoin”
George Hotz aka ‘Geohot.’

Popular entrepreneur and hacker George Hotz, aka Geohot, has a reputation for being the first person to unlock the Iphone and jailbreak the iOS software back in 2007. The programmer is also known for his relationship with Elon Musk, which he claims Musk offered him millions to create a better autonomous vehicle system than the current Tesla Mobileye solution. Recently, he attended the BCH Devcon in San Francisco and was interviewed by BCH Youtuber Hayden Otto. Following the event, on Wednesday, Hotz showed people how to generate a BCH private key from scratch using Python.

While most of the five-hour video shows Hotz coding and explaining what he was doing, the programmer emphasized how he would not be talking much about cryptocurrency politics.

“I know we’re doing crypto things today but we’re not going to talk about the politics of crypto — Because politics is for losers,” Hotz explained to the viewers. Before getting started, he also explained how he learned a few things at the BCH Devcon the prior week. “Transaction fees are super low on bitcoin cash,” the hacker detailed before starting the key generation process.

Hotz continued:

[I’m] Using bitcoin cash because it’s the real bitcoin.

Infamous Hacker George Hotz Calls Bitcoin Cash the “Real Bitcoin”

“Lightning Network Too Complicated in a ‘Won’t Work’ Kind of Way”

During his interview at the BCH Devcon, Hotz also talked about the Lightning Network and the Ethereum network’s dapp projects. The programmer said he likes cryptocurrency technology and reads Ethereum code for pleasure. However, Hotz detailed that the Ethereum network is a “bug bounty” because he believes smart contracts open the doors to malicious hackers getting paid without breaking laws.

Hotz further stated that he was irritated with paying high network fees on the BTC network last year. As far as the Lightning Network is concerned, he explained the system is too complicated in a fashion that probably “won’t work.” Bitcoin Cash proponents on forums and social media enjoyed learning Hotz’s opinion about the Bitcoin scaling debate and his informative Python lesson using the protocol’s code.

What do you think of George Hotz (Geohot) and his opinion about the Bitcoin Cash protocol and the Lightning Network? Let us know what you think about this subject in the comments section below.


Images via Pixabay and Youtube.


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New BitConnect Class Action Combines All Former Suits — And Targets Youtube

BitConnect Lawsuit

According to recent court documents, an Amended Consolidated Class Action Complaint has been filed at a U.S. District Court for the Southern District of Florida against BitConnect. The new suit combines all the lawsuits previously filed against the now-defunct pyramid scheme.

The new class action names the law firm Silver Miller as the "Class Counsel" and BitConnect owners and promoters as defendants in the suit. Silver Miller has become famous for its efforts in handling cryptocurrency-related cases, representing aggrieved clients who have lost funds to crypto businesses and going head-to-head against companies such as Coinbase, Kraken, BitConnect and Tezos.

The consolidated lawsuit names BitConnect International PLC, BitConnect Ltd., BitConnect Public Limited, BitConnect Trading Ltd., individuals affiliated with the scheme including Senior BitConnect India promoter Divyesh Darji. It also names YouTube as a defendant, which was sued earlier this year, for allowing BitConnect promoters and affiliates to publish "over 70,000 hours of unedited content, generating 58,000,000 views," luring "thousands, if not hundreds of thousands of victims" into BitConnect's Ponzi scheme.

The new lawsuit cites over 22 legal violations including selling of unregistered securities under controlling federal law, breach of contract, fraudulent inducement and more. The suit also provides a complete overview of BitConnect and the allegations leveled against it.

The consolidated suit reads in part:

"This is a class action on behalf of a class of investors consisting of all individuals and entities who transferred to BITCONNECT any fiat currency or cryptocurrency to invest in BCC and/or the BitConnect Investment Programs(Defined Below) and who suffered financial injury as a result thereof."

BitConnect's history was short and fraught with controversies and drama. The company, which was suspected of running a ponzi scam, solicited funds from investors who lent money to the business in exchange for a 40 percent return per month and 1 percent per day, regardless of the conditions in the market.

Investors who wanted to be a part of the scheme had to convert their fiat or bitcoin into the platform's native token, the BCC.

As investor demand in the token grew, so did the value of the digital asset, reaching an all-time high price of $430 with a market cap of over $2.6 billion. When the company announced it was shutting down its lending scheme, the value of the asset was wiped out. Crypto exchanges also delisted the coin, leaving investors with losses.

The company shut down operations on January 17, 2018, citing bad press as well as two cease-and-desist orders from state securities regulators in Texas and North Carolina which claimed the company was selling unregistered securities and Distributed Denial of Service (DDoS) attacks which, it claims, shook investor confidence in their program.

This article originally appeared on Bitcoin Magazine.

Ticketmaster Acquires Blockchain Startup in Bid to Combat Ticket Fraud

Major global ticket sales and distribution company Ticketmaster has acquired Upgraded, a blockchain startup using DLT and “smart tickets” to combat fraud within the industry. Share of Controversy Ticketmaster — which merged with Live Nation in 2010 to form Live Nation Entertainment — is a live music behemoth that either leases, operates, or has equity

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Braiins OS: An Open Source Alternative to Bitcoin Mining Firmware

Braiins OS

Braiins OS wants to redefine open-source mining software.

The project, an offshoot of Satoshi Labs (the company behind Slush Pool and Trezor), recently rolled out the initial release of its ASIC miner firmware. The operating system is advertised as “the very first fully open-source, Linux-based system for cryptocurrency embedded devices,” an alternative to the factory-default firmware that comes with most popular mining hardware.

Upon visiting the project’s website, visitors are greeted with a clear message, a mantra that resonates with its related industry’s ethos: “Take back control.”

Rethinking Open Source in an Open Source Space

Further down on its website, the project invites community members to “[say] goodbye to backdoors, closed systems and hidden features.” This promise of transparency is an implicit reference to the contrasting opacity of its biggest competitor’s mining software.

Bitmain advertises its software as open source. But Jan Čapek, CEO of braiins, the company behind the eponymous OS and Slush Pool, explained to Bitcoin Magazine that too many features of Bitmain’s code are covertly closed off, making it impossible to provide a proper software image — a record of the state of the mining system at a given time.

Essentially, Čapek indicates that a few key components are missing to make Bitmain’s code full open source, such as the FPGA code. Without these pieces, users cannot parse together a full image of the mining client.

“The problem is that most of the people out there are not able to build a complete S9 image as it is not quite obvious that all the components are provided by Bitmain. To build a complete system you need the first stage bootloader (sometimes called SPL), u-boot, Linux kernel, Linux system (buildroot/openwrt?), FPGA bitstream (+ sources) and cgminer sources. So, there is quite more things that are to be reviewed that are still closed source and open quite a few questions,” he said, “For example, why is the FPGA code still closed?”

Even without these closed systems, other softwares may include “backdoors” or “hidden features” — a practice that braiins OS rejects as well.

In Bitmain’s case, there was a backdoor baked into the code.

Known as Antbleed, the feature was introduced in July of 2016, and it gave Bitmain the ability to remotely shutdown most of its active Antminer hardware, most notably the S9. Bitmain claimed that the backdoor was there so that it could police stolen or hijacked hardware, telling Bitcoin Magazine that the company “never intended to use this feature on any Antminer without authorization from its owner.”

Regardless of its purposes, stated or otherwise, Antbleed was the primary motivation behind braiins OS, Čapek said.

A Bid For Transparency, Flexibility

Braiins OS’s initial release leverages OpenWrt, “a generic embedded Linux distribution that allows [it] a great deal of flexibility,” Čapek said, and its central meta project is open to developers on GitHub.

Per Čapek’s earlier statement, the software offers a more complete, customizable kit than the factory defaults that companies like Bitmain provide with their hardware. “None of the manufacturers provide an easy, documented or central way of building an image and running it on their hardware,” he said in our interview, chalking this up to “probably [a] lack of transparency.”

As an alternative, braiins OS “can be used to build the entire firmware image,” he continued. This includes a tool to configure and run this firmware for specified hardware, something its competitors currently don’t offer.

For its rollout, braiins OS will only be compatible with the Antminer S9 and DragonMint TI, as those are the most commonly used mining rigs currently in use. Going forward, the team plans to open up integration for other devices as well, including the Whatsminer M10.

The project will also look to integrate with more mining pools as it gains traction among developers. Currently, “Slush Pool is one of the few pools that supports the version rolling extension of stratum protocol (BIP310),” Čapek said.

This is in part due to caution. Čapek told us that braiins OS didn’t want to have too many different images installed for the rollout “just in case there were any serious issues with transitions from factory firmware.” Seeing as this is “an alpha release,” he continued, “massive deployment was not desirable.”

In the meantime, the team looks forward to the community enriching its project, and Čapek indicated that they’ll be taking notes on developer activity in order to improve the project in future releases.

“Currently, we are already gathering feedback from the community. The next release with regards to S9 will bring additional features like per hashboard frequency and voltage configuration.”


This article originally appeared on Bitcoin Magazine.

Ripple (XRP) and Litecoin (LTC) Make Moves in the Shadows

Ripple (XRP)

The cryptocurrency market is currently sitting just above $210 billion this morning. While mainstream media is heavily focused on cannabis at the moment, blockchain companies are still making moves in the background. Today, we’ll take a closer look at Ripple (XRP) and Litecoin (LTC) and the latest advancements with the two projects.

Ripple (XRP)

Ripple and XRP are often confused as the same and are often grouped together because what Ripple the company does ultimately affects/influences the price of XRP.

Less than a month ago, Ripple revamped its website to solely focus on RippleNet. ...

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Monero Forks: Bulletproofs Integration Kicks off New Era of Privacy, Speed

Monero (XMR) forked successfully earlier today, and the network has seen no major hiccups so far. This release is unlike the usual ones that try to keep up with deterring ASIC miners. The release, called “Monero 0.13.0 “Beryllium Bullet,” includes a significant overhaul of the network’s protocol through the introduction of bulletproofs. Bulletproofs Explained The … Continued

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Emma Integrates Crypto Exchanges into Money Management App

UK Money Management App Emma Adds Cryptocurrency Exchange Integration

Emma, a London-based startup firm specializing in money management services, has launched cryptocurrency exchange integration for its new app. The platform, which the company describes as a kind of “financial advocate” service, is designed to help millennials gain a better understanding of their finances.

Also Read: Security Giant G4S Offers Protected Offline Cryptocurrency Storage

New ‘Emerging Asset Class’

UK Money Management App Emma Adds Cryptocurrency Exchange Integration Emma has integrated several cryptocurrency exchanges into the app, including Coinbase, Bittrex, Binance, Bitstamp, Kraken and Bitfinex. With its latest development, users can view all of their cryptocurrency investments from multiple exchanges in real time using a single interface. The free app also allows U.K. consumers to look at aggregated information from their credit cards and bank statements, in addition to the cryptocurrencies and tokens they hold.

“Emma was built to empower millions of individuals to live a better and more fulfilling financial life. Cryptocurrency is the next emerging asset class and we are thrilled to welcome it as part of our family of integrations. Our users can now manage and track their crypto holdings alongside more traditional finances to make wiser and more transparent decisions,” said Emma CEO Edoardo Moreni. “For Emma, this is one of the first steps toward a world where account aggregation doesn’t just refer to banking products, but opens the doors to several financial services.”

Consumer-Focused Banking Experience

UK Money Management App Emma Adds Cryptocurrency Exchange IntegrationEmma launched in January of this year, backed by a team of finance and technology experts. In July, the company raised £500,000 in a seed round led by Kima Ventures, one of the first investors in Transferwise. Aglaé Ventures — the early stage program of French investment firm Groupe Arnault, which has previously invested in Netflix and Airbnb — also participated in the seed round.

Emma is registered with the Financial Conduct Authority in the U.K. under the Payment Services Regulations 2017. With its new app, the company aims to build a mobile-only banking solution (iOS and Android) to help young consumers avoid overdrafts, cancel subscriptions, track their debts and save money. It said it is trying to provide a more consumer-focused banking experience that will improve the financial lives of its users, by serving as a sort of one-stop shop for all of their financial information.

As a U.K. resident, do you look forward to managing your cryptocurrency portfolio with Emma’s new app? Share your thoughts in the comments section below.


Images courtesy of Shutterstock, Emma.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

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Report: Despite Price Volatility Blockchain and Crypto Jobs Are In Demand

Glassdoor Jobs

Glassdoor Economic Research is delivering much needed good news to the crypto community saying that despite extreme price volatility and regulatory uncertainty, the number of crypto jobs in the blockchain and cryptocurrency sector has risen by 300 percent since the same time last year.

Saying that “the professionalism of the space has accelerated,” the report notes that “continued growth in job openings suggests that blockchain employers remain confident in the market opportunity and continue to make long-term investments in their teams.”

Using their substantial job search site to search out blockchain and cryptocurrencies jobs, Glassdoor Research learned that, in August 2018, there were 1,775 unique blockchain-related job openings in the U.S. By comparison, in August last year, there were only 446 similar job listings, representing a 300 percent year-over-year increase.

Glassdoor report

“Hiring and jobs is a much more stable metric to observe when looking at the health of an industry, compared to the stock market or currency values that can, and do, fluctuate daily,” Glassdoor economist Daniel Zhao, who worked on the study, told Bitcoin Magazine:

“What the strong surge in job growth that we see on Glassdoor shows is that there is a clear interest in investing in workers with skills related to Bitcoin and other digital currencies.”

"Bitcoin-Related" Skills Are in Demand

One of the report’s surprises is that more cryptocurrency jobs were created than blockchain jobs, as what Zhao referred to as "Bitcoin-related" skills were the most in demand, despite recent price volatility.

“There’s been a lot of Bitcoin buzz among financial investors as well as the general public that’s grown quickly over the last few years. What our research found was a 300 percent growth in online job postings for Bitcoin-related jobs compared to the previous year, which is a significant surge.

“Although we’ll continue to watch and see where Bitcoin is headed, for employers to make these investments is a sign that they see it as a growing industry,” he stated.

Who's Looking and What For

As far as job occupations listed, engineering, technology and science jobs made up 55 percent of the jobs posted.

Software engineers were most in demand, accounting for almost 20 percent of the technical job listings.

Others on the list included analyst relations manager, product manager, risk analyst and marketing manager.

As can be seen in the following chart from the report, IBM and ConsenSys had the most blockchain- and cryptocurrency-related job listings, while other companies like Coinbase and Kraken were also hiring.

Top 15 Employers Hiring for Blockchain-Related Jobs

Glassdoor report

The report notes that some consulting or professional services firms like Accenture and KPMG are hiring people specifically to advise their clients on how to apply new blockchain technologies.

Better Pay for Blockchain Jobs

Likely due in part to a competitive market where growing demand is outstrippng the supply of trained workers, companies hiring are offering higher than average compensation. The median salary for crypto jobs is $84,884, well above the median salary for all U.S. jobs.

Zhao added: “Our data found that not only is there a growing interest for Bitcoin-related talent among companies both large and small and at companies across the country, but these roles often pay more than the U.S. median salaries. We found Bitcoin roles pay $84,884 per year, which is about 62 percent more than the U.S. median salary.”

Cities With the Greatest Demand

New York City and San Francisco represent a disproportionate share of blockchain-related jobs at 24 percent and 21 percent of total job openings. San Jose (6 percent), Chicago (4 percent) and Seattle (4 percent) round out the top five cities for blockchain job openings.

“I also found it interesting to see the spread of Bitcoin-related opportunities across the United States. Although it’s no surprise to see that most job opportunities reside in the financial hub of New York, our data shows that companies across the U.S. and even several mid-sized cities are looking for this type of talent. What we’ve seen is that in some of these mid-sized cities, local organizations have established initiatives to help put them on the map for Bitcoin and cryptocurrency talent,” said Zhao.

Internationally, London topped the list with 189 blockchain-related job openings, followed by Singapore, Toronto and Hong Kong.

Is Bitcoin Here to Stay?

Asked if he thinks this growth in jobs is unusual compared to other sectors, Zhao said:

“The growth in the blockchain industry has looked like the broader tech boom. Similar to the technology industry, Bitcoin-related jobs are concentrated in certain talent hubs, with higher than average salaries for workers as investment pours in. Plus, both startups and larger companies alike are investing in this sector — all things we’ve seen shape the tech job market.”

With continuing market volatility and uncertainty around what regulators plan to do, it’s a legitimate question to ask if the cryptocurrency industry is here to stay for the long haul.

Zhao is confident that it is, conveying that investing in jobs is an excellent indicator:

“Although there’s often news about the fluctuating prices of digital currencies, hiring is a long-term decision that an organization sees a true business value in hiring people with specific skill sets that can contribute to the business. It’s a decision not made on a whim.”



This article originally appeared on Bitcoin Magazine.