CME Group Outpaces Competition Becoming the World’s Largest Bitcoin Futures Market

CME Group Outpaces Competition Becoming the World’s Largest Bitcoin Futures Market

Financial derivatives products for bitcoin have grown massively during the last few months. On Friday evening (EST), Arcane Research explained that the Chicago Mercantile Exchange has surpassed Okex as the largest bitcoin futures provider. The regulated derivatives market at CME has doubled month after month as incoming interest has created more demand for CME’s bitcoin futures.

  • The Chicago Mercantile Exchange (CME Group) is the world’s largest financial derivatives exchange that trades in various asset classes. The exchange first launched its bitcoin futures products back in December 2017, and since then the demand for crypto derivatives has skyrocketed.
  • On October 14, 2020, the investment manager Wilshire Phoenix published a study which says that “CME Bitcoin Futures contribute more to price discovery than its related spot markets.”
  • “CME Bitcoin Futures have grown to become significant, this is not only demonstrated through trading volume and open interest, but also by influence on spot price formation,” the investment manager’s research called “Efficient Price Discovery in the Bitcoin Markets” said.
  • On October 24, 2020, news.Bitcoin.com reported on how CME Group became the second-largest derivatives market for bitcoin futures in terms of open interest. Two key events helped push CME’s futures above the competitors; the crypto support announcement from Paypal, and the legal troubles surrounding the derivatives exchange Bitmex.

  • This week, CME Group has surpassed Okex and is the largest bitcoin futures provider at the time of publication. The exchange has captured over $1.16 billion in open interest toward its bitcoin futures market product. This is just a hair above the exchange Okex, which commands $1.07 billion in bitcoin futures open interest.
  • The research and analysis firm Arcane Research tweeted about the latest CME Group milestone after obtaining data from Skew.com. “According to data from Skew.com, CME is now the largest futures market for bitcoin. Institutional investors are here,” Arcane tweeted on November 27.

  • Other bitcoin derivatives exchanges that are also seeing notable open interest spikes include Binance, Huobi, and Bybit. In fact, according to Arcane Research’s recent tweet, Bybit and Bitmex share the same amount of open interest.
  • The bitcoin derivatives exchange Bakkt, which deals in physically-settled bitcoin futures is barely a blip on the radar compared to competitors.

What do you think about CME outpacing the competitors like Okex when it comes to bitcoin futures open interest? Let us know what you think about this subject in the comments section below.

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Hash War: Mystery Miner’s Empty Block Attack Makes ABC’s New Blockchain Almost Unusable

Hash War: Mystery Miner’s Empty Block Attack Makes ABC’s New Blockchain Almost Unusable

According to various reports, the Bitcoin ABC pro-IFP chain has been under ‘attack’ for a number of consecutive days now. The mystery miner has been mining a great number of sequential blocks, but almost all of them have been empty. The miner who calls himself ‘Voluntarism.dev’ says the mining operation is a group of “old-guard miners,” and claims they can mess with the minority ABC chain for years.

‘The Price of Freedom Is Steep’

The cryptocurrency community has been watching the aftermath of the recent blockchain bifurcation, which saw the Bitcoin ABC node fork into its own blockchain. The Bitcoin ABC network is still nameless and without branding, and the token is often referred to as either “ABC,” “BCHA,” or “BAB.”

Last week, news.Bitcoin.com reported on a stealth miner who has been mining a large number of consecutive empty blocks. Because blocks have been empty for so long, it’s been hard for anyone to send a transaction on the ABC chain and get the transaction confirmed in a timely manner.

Hash War: Mystery Miner's Empty Block Attack Makes ABC's New Blockchain Almost Unusable
It is assumed that the mystery mining pool operator Voluntarism.dev controls 90% of the ABC chain’s hashrate on Saturday, November 28, 2020.

Since our newsdesk’s report, the mystery miner has introduced the group on Twitter under the account name Voluntarism.dev, and through coinbase parameter messages every time the pool finds an ABC block reward. On November 24, 2020, the Voluntarism.dev Twitter account created a message with a blockchain signature in order to verify its legitimacy.

The same day the miner tweeted: “good ideas don’t require force” and the following day the group tweeted a message to other miners pointing hashrate at the ABC chain. Voluntarism.dev said:

I hope all miners agree: we would like 100% of the BCHA coinbase reward to go to pqnqv9lt7e5vjyp0w88zf2af0l92l8rxdgnlxww9j9.

The mystery miner Voluntarism.dev has also taken to Github in order to show that the group is serious about the 100% being sent to the IFP address.

Later on that day, the pool tweeted that “the price of freedom is steep” and also tweeted some screenshots of Bitcoin ABC’s lead developer Amaury Séchet discussing the infrastructure funding plan (IFP).

“ABC violated the (non-aggression principle) NAP with 9 months of civil war,” the Voluntarism.dev Twitter account stressed in another tweet. “Freeriders must pay 100% of the block reward to ABC. We will orphan all blocks that do not. We will pay 100% as well, once ABC merges this change,” the pool added.

In another statement Voluntarism.dev said:

The amount of value that ABC stole from [Bitcoin Cash] pales in comparison to our expenditures. We are a group of old-guard miners and whales. We can do this for years. Next time you fork: use your own genesis block, your own PoW [algorithm], and build your own community. [Bitcoin Cash] is protected.

Meanwhile, between Thursday and Saturday, it took more than 24 hours before any ABC pro-IFP transactions cleared, and the blockchain has suffered a total of two blockchain reorganizations (reorg) to-date. This means after a block has been mined by a miner other than Voluntarism.dev, it’s been reverted and the once confirmed blocks simply disappear. On Saturday morning, there was an attempt to reorg the ABC chain a third time, but it was reverted by the pool Mining Dutch. The mining pool Mining Dutch has managed to process thousands of transactions for senders on Saturday early afternoon (EST).

Spawn Camp Attack or Enforced Consensus Mechanism?

On November 28, 2020, the cofounder of Ethereum, Vitalik Buterin tweeted about the mystery mining pool that controls 90% of the ABC chain’s hashpower today. “ [A] mining pool 51% attacks BCHA seemingly with the explicit goal of destroying it. Will this be the first true spawn camp attack on a PoW chain?” Buterin asked his Twitter followers.

However, the recent empty block attacker is not the first true spawn camp attack on a PoW chain. A Bitcoin clone called Coiledcoin appeared in 2012 and it has been said that it was also attacked by hashrate. The BTC community accused the Core developer, Luke Dash Jr., of leveraging the mining pool Eligius in order to takedown the Coiledcoin project. Software developer Peter Todd spoke about the event on Twitter in 2016 when ethereum classic (ETC) was threatened by a 51% attack.

Hash War: Mystery Miner's Empty Block Attack Makes ABC's New Blockchain Almost Unusable
Screenshot of the first two blockchain reorganizations (reorg).

On Friday, in a reply to Buterin’s tweet about the mystery miner, BCH proponent, and researcher, Javier González explained that the mining pool’s technique was not an attack. “It is not an attack, it is defensive,” González said. “Bitcoin ABC has fractured the BCH project to capture 8% of the coinbase miners incentive. 90% of the BCH [hashpower] voted against it. And now they are defending their interests. Enforced consensus mechanism,” González insisted.

Hash War: Mystery Miner's Empty Block Attack Makes ABC's New Blockchain Almost Unusable
González and others believe the mystery miner is emptying blocks to make it easier to continue the scheme.

News.Bitcoin.com spoke with González on Saturday, while the third blockchain reorg attempt took place. González is also the inventor of the Bitcoin Mining Parliament (BMP), a concept that confronts Bitcoin Cash network issues using Nakamoto Consensus.

During the morning hours (EST), the mining pools Viabtc and Mining Dutch mined blocks 662396 and 662397. Both of these blocks confirmed thousands of transactions, but again, Voluntarism.dev reorganized the chain with its massive hashpower and the blocks disappeared. González sources data from the block explorer Blockchair and also runs his own ABC pro-IFP node. Although not too long after, confrontational hashpower was able to stop Voluntarism.dev’s third reorg attempt.

“The first empty block + reorg attack to destroy a minority split attempt (BAB/BCHA/ABC) is occurring,” González told news.Bitcoin.com on Saturday. “I think they are a group of miners and BCH whales that are acting in coordination to defend the [Bitcoin Cash] blockchain from the split caused by Bitcoin ABC (Amaury) to capture the 8% of the coinbase incentive that belongs to the miners. González further added:

Basically, Amaury believes it has the right to break up the project and take the 8% (who knows how much in the future). But that is being denied by hashwar.

Hash War: Mystery Miner's Empty Block Attack Makes ABC's New Blockchain Almost Unusable

Mystery Miner’s Third Attempt to Reorg ABC Met With Confrontational Hashpower

González also said that the ABC chain only has two mitigations; either selectively ignore hashpower (total centrality) or change the algorithm in emergency. The researcher further highlighted that the ABC chain has no use and that markets may have to delist the coin. While the mystery miner empties blocks it is also optimizing the assault by making it cheaper González detailed.

“What we are seeing is what I call ‘executive mining.’ That is, it is not ‘automatic mining’ following the market incentive, but the miners are following their own brains, spending money, thinking of a bigger future incentive (in this case, it seems to be the defense of BCH),” González emphasized.

While conversing with the researcher another two blocks were mined by the pool Mining Dutch. González said that the mystery miner Voluntarism.dev is now being confronted in the hash war. “A large amount of HP has reversed the reorg, protecting BAB,” González detailed. Currently, there have been two successful reorganizations and one failed attempt on Saturday morning.

After the two blocks were found by Mining Dutch, Voluntarism.dev mined four blocks after that, the pool said the confrontational hashpower was a “bully” in the following coinbase message. Following the four blocks mined by Voluntarism.dev (662412, 662413, 662414, 662415), Mining Dutch got another two blocks and managed to process transactions.

As of right now, BCH supporters and ABC proponents will be watching the chain with their eyes peeled. So far, it seems the chain is far from functional and the network’s existence going forward is uncertain.

What do you think about the hash war and the mystery miner? Let us know what you think about this subject in the comments section below.

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Image Credits: Shutterstock, Pixabay, Wiki Commons, Charts by Javier González, Coin Dance Cash ABC hashrate distribution,

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is 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 this article.

Facebook’s Libra Crypto Gets Ready to Launch in January as a Single Coin

Facebook’s Libra Crypto Gets Ready to Launch in January as a Single Coin

Facebook’s libra cryptocurrency is reportedly preparing to launch with a single cryptocurrency, a scaled-down version of its original plan. The launch date for Facebook’s libra could be as early as January.

Launch Date for Facebook’s Libra

The cryptocurrency libra, proposed by social media giant Facebook, is reportedly preparing to launch as early as January next year. However, only a limited version of the libra cryptocurrency will launch at that time.

According to the revised libra whitepaper, the Libra Association intended to initially launch with some of the currencies in the proposed libra basket, such as “librausd or ≋USD, libraeur or ≋EUR, libragbp or ≋GBP, librasgd or ≋SGD),” the association explained. However, the Financial Times reported Friday:

The association would now initially just launch a single coin backed one-for-one by the dollar … The other currencies and the composite would be rolled out at a later point.

The exact launch date for the libra crypto would depend on when the project receives approval to operate as a payments service from the Swiss Financial Market Supervisory Authority (FINMA). Three people familiar with the matter told the publication that it could come as early as January. Libra’s application was initiated in May.

Facebook unveiled the libra project in June last year and later scaled down its plans after being scrutinized by regulators worldwide. The Libra Association has 27 members currently, including Facebook’s David Marcus, who is Head of Facebook’s subsidiary Novi Financial, formerly Calibra. According to Facebook, “The first product Novi Financial will introduce is the Novi digital wallet designed for Libra, a new payment system which is built on innovative blockchain technology.”

What do you think about the libra crypto launch? Let us know in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is 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 this article.

1 in 5 Players Win Big at Bitcoin.com Lottery, New Crypto Games Promise Guaranteed Winners

1 in 5 Players Win Big at Bitcoin.com Lottery, New Crypto Games Promise Guaranteed Winners

Launching Sure-Win Games! A set of 10 new raffles with guaranteed wins of up to €25,000. Get paid in BTC or BCH!

Guaranteed Winners on Every Draw

Bitcoin.com partnered with Bravio Tech earlier this year to bring you the first blockchain-powered lottery platform. Bitcoin.com Lottery has since been very popular among players who want to access many of the leading global lotteries from anywhere in the world. Nearly 20% of all tickets sold on the platform have resulted in winners taking home a handsome payout in BTC or BCH.

The premium lottery platform from Bitcoin.com is also the first to allow players to withdraw their wins in BTC or BCH for over ten global lotteries, which was unheard of until now. Players can not only purchase tickets to $100s of millions of jackpots in traditional lotteries, but also play a variety of crypto games with jackpots of up to $1 Million drawn out daily.

Tickets are limited in all Sure-Win Games. Players can enter raffles with as low as €2 to win up-to a massive jackpot of €25,000!

Bitcoin.com Lottery has now launched a set of 10 new games, each with a guaranteed jackpot winner on every draw. Aptly named Sure-Win Games, the new games are one of the hottest offerings yet to come from the brand. Tickets are limited in all Sure-Win Games where users can enter with as low as €2 and play for raffles to win up-to a massive jackpot of €25,000!

We can guarantee a jackpot winner in every single draw, not many platforms can offer that. We have adopted Bitcoin and Bitcoin Cash as mainstream payments. Bitcoin.com is pioneering this new digital age, their expertise in building on blockchain technology is second to none. Together we have created a seamless, user-friendly global lottery platform that removes all boundaries and limitations,” said the CTO for Bitcoin.com Lottery on why he expects these newly launched games to be highly popular among players.

Bitcoin.com Lottery currently supports over 10 world-famous lotteries including the US PowerBall and MegaMillions, EuroJackpot and EuroMillions, and the hugely popular Spanish Christmas lottery Loteria de Navidad featuring a massive jackpot of €2.24 billion. BTC PowerPlay and Mega-Jackpot daily crypto jackpots are also available to play. Users can get started on the platform by creating a free account and begin playing within minutes.

Play the latest guaranteed win Sure-Win Games and check out some of the hottest lottery offerings at Bitcoin.com Lottery website.

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All Pizza Hut Locations Accept Cryptocurrencies in Venezuela

All Pizza Hut Locations Accept Cryptocurrencies in Venezuela

All Pizza Hut locations in Venezuela now accept a broad range of cryptocurrencies, including bitcoin, via the payment platform Cryptobuyer. Pizza Hut joins Burger King, Intercontinental Hotel, Traki, and several other major stores in Venezuela that accept bitcoin.

Pizza Hut Accepts Bitcoin

Cryptobuyer announced on Friday that all Pizza Hut restaurants in Venezuela now accept cryptocurrencies, including bitcoin. The company wrote:

From today, you can share with your family and pay with cryptocurrencies … in any of the Pizza Hut restaurants in Venezuela.

The announcement adds that among the cryptocurrencies accepted at Pizza Hut are bitcoin, ethereum, dash, litecoin, binance coin, tether, DAI, and Cryptobuyer’s native token, XPT. It further adds that Pizza Hut restaurants are located in Caracas, Maracay, Maracaibo, and Barquisimeto. There are three locations in Caracas — in El Sambil, El Recreo, Líder, Caurimare, and las Mercedes.

In June, Cryptobuyer announced that Venezuelans will be able to pay for goods and services with cryptocurrencies in more than 20,000 stores throughout the country. This is made possible through the integration of “Cyptobuyer Pay” into Mega Soft’s “Merchant Server” platform. Mega Soft is a large payment processor in Venezuela, with an average of 18 million transactions processed per month.

Cryptobuyer previously explained that stores using Merchant Server have the ability to accept over 100 cryptocurrencies due to the company’s alliance with the Japanese crypto exchange Liquid.

Merchants can choose to either automatically settle their cryptocurrency payments in fiat currencies or keep the coins stored in their accounts. Among stores that are currently using Cryptobuyer Pay are Burger King, Intercontinental Hotel, and Traki, the largest department store chain in Venezuela.

What do you think about Pizza Hut accepting cryptocurrencies? Let us know in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is 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 this article.

Veteran Analyst Says BTC Might See Further Correction but ‘Prices Have Not Topped’

Veteran Analyst Says BTC Might See Further Correction but ‘Prices Have Not Topped’

Following bitcoin’s sharp pullback on November 26, renowned trader Peter Brandt says BTC is likely to see a further correction, although he thinks prices have not topped. The comments follow the massive sell-off of cryptos that resulted in traded volumes of $8.5 billion being recorded across exchanges in just 24 hours. According to Messari, this is the second-highest traded volumes figure ever recorded.

Veteran Analyst Says BTC Might See Further Correction but 'Prices Have Not Topped'

Prior to the bears taking over, BTC had gone on an extended bull run and during the run up, many analysts predicted the digital asset would at least breach the $20,000 mark. However, at the time of writing, BTC appears to have stabilized after bottoming out at $16,218.

Some Analysts Still Bullish

In keeping with the practice of issuing bullish statements when BTC is on a bull run, some analysts insisted that BTC would end the year above $20,000. Still, even after the latest crash, some remain adamant that the $19,500 resistance level will be breached and they back their predictions with data. For instance, the findings from a study carried out by a Swiss financial institution, SEBA says that current “wallet holdings suggest large holders are unperturbed by the sell-off.”

Veteran Analyst Says BTC Might See Further Correction but 'Prices Have Not Topped'

Also agreeing with the SEBA findings is Mati Greenspan, the founder of Quantum Economics who tweets that the “17% pullback is rather tame at this stage of the cycle.” When one Twitter user asks if a further drop is expected, Greenspan responds “my guess is we’ve already seen the worst of it.”

Veteran Analyst Says BTC Might See Further Correction but 'Prices Have Not Topped'

Alternative Views on the Latest Bitcoin Pullback

However, not everyone agrees with the assessment that the large drop is actually a long-overdue correction. Instead, some bitcoiners on Twitter say rumors that the U.S. Treasury Secretary Steve Mnuchin is planning to change rules governing the use of noncustodial wallets might have triggered the large drop on November 26. Without giving away much, Ryan Selkis the founder at Messari tweeted “I survived the Mnuchin crash of 2020.”

Veteran Analyst Says BTC Might See Further Correction but 'Prices Have Not Topped'

However, Kyle Samani, the managing partner at Multicoin thinks the Mnuchin rumors have no effect on the current BTC bull run. He argues:

(The) next wave of buyers macro buyers want regulation For them, 21M cap is a feature, and censorship resistance is (kind of) a bug They don’t want self custody. Just inflation hedge.

Still, others believe the resumption of withdrawals on the Asia crypto exchange Okex might have caused the drop. Okex froze withdrawals after one of the exchange’s private key holder was reportedly taken in custody. While there is no consensus on what caused the drop, many bitcoiners appear to agree that BTC might not be returning to $10,000.

For instance, the SEBA findings say $16,200 is the new support price for BTC while the resistance is $19,500. Prior to the Thursday drop, Mike Novogratz of Galaxy Digital opined that BTC prices are not going to fall below $12,000 in the current cycle.

Do you think BTC will go past $20,000 this year? Share your views in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Twitter,

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is 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 this article.

EURST Stablecoin – Reinvention of the European Economy

EURST Stablecoin – Reinvention of the European Economy

Over the years, we have been introduced to a digital transformation, which has created and shaped communities around the world. Digital technologies have introduced newly evolved ways of how the world interacts, operates, and most of all, conducts exchanges. In the current economic hardship and the Covid-19 global pandemic, the European Union has had to face many operational and structural facts, one of them being the strength of the fiat currency; the Euro.

The European Economy Operates via a Flawed System

Since the introduction of the Euro, the currency has been in a consistent debate, regarding its strength and endurance within the global exchange.

This specific criticism is defined by a strategic error, showcasing a dominant flaw; specifically, the Euro not having a strong asset-backed united economy. The fault has been well argued for the fact that the creation of the Euro intended to mimic the firm stance and ability of the US dollar, yet the European Union is still divided via an economic standpoint between members.

Although opinions may vary, one cannot argue the strength of the organizational base of the US economy and consistency of the USD currency portraying a ‘robust’ stance even with the turmoil of changes the year 2020 has presented.

‘This is why the US economy was more prepared for the Covid-19 pandemic. The European economy operates via a different…maybe, one could say, a flawed economic system, and therefore it becomes more vulnerable to change of regulations and stabilize operations during such times’ – Simone Mazzuca

EURST Stablecoin – Reinvention of the European Economy
Simone Mazzuca

With that in mind, the economic hardship for individuals and businesses within the EU could be reduced by the creating regulations which embrace current and future digital technological possibilities.

‘The basis of Europe has a strategic position through the exchange and global power, however, in its current stance with addition to BREXIT, Europe finds itself in an even more vulnerable position’ – Simone Mazzuca

Henceforth, the development of stablecoins comes at the right time, especially when international financial policies seem to be polarized by different financial variables and the inflationary nature of the Fiat.

This is why Mr Mazzuca created EURST, a USD asset-backed and live audited stablecoin. The newly developed digital currency from Wallex Trust represents 1€ worth of USD, secured by the accounts of the federal reserve and Wallex Trust itself.

EURST Presents Opportunities for a Better Economy

Issued as a token on the Ethereum network according to the well-established ERC20 standards, the advanced capabilities of blockchain technology enables users to conduct faster and more secure transactions. This is enabled through the use of smart contracts, which digitize deposited funds that are held in a segregated account by the issuer. Thus, empowering users to transact their money without the high costs and lengthy delays of the current financial system.

‘EURST can be used as a logistical background for the representation of the Euro’ – Simone Mazzuca

Even more, blockchain technology enables EURST to be fully transparent and live audited as transactions are recorded on the digital ledger, in addition to having regular third-party audits.

This presents the ability not solely to bring transparency and security, but also allows users to store their funds within a trusted Custodian, Wallex Custody. Through the use of opening an account within Wallex Custody, users can benefit from additional security and privacy while maintaining fluidity in the deposit, transfer or withdrawal of personal funds convertible to any currency of choice within a quick and borderless matter.

In conclusion, EURST presents itself with opportunities and possibilities for a better economy, and, we highlight some dominant features:

1. The protection of wealth from losing value in relation to the Euro may use the stablecoin to save money without opening a bank account in Europe
2. Users wanting to deposit funds to cryptocurrency exchanges for trading may use EURST instead of Fiat.
3. Oversees workers may use EURST to bypass the expensive transfer fees charger when making fiat remittances to their family back home.

Following the above-mentioned advantages, EURST does indeed portray the possibility and opportunity to bring a sort of ‘chameleon’ option for operations with the Euro currency. The transparency and security of the stablecoin, EURST, is that it brings and gives support to individuals and businesses to operate successfully and this, within an economy that is yet to provide us all with reassurance.

Link to EURST: https://eurst.io/

Link to Wallex Trust: https://wallextrust.com/

Link to Wallex Custody: https://www.wallexcustody.com/


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Researcher Publishes Never Before Seen Emails Between Satoshi Nakamoto and Hal Finney

Researcher Publishes Never Before Seen Emails Between Satoshi Nakamoto and Hal Finney

Just recently three previously unpublished emails from Bitcoin’s inventor, Satoshi Nakamoto, have been made public. The emails reveal the correspondence between Satoshi and the early Bitcoin developer Hal Finney. The communications between Nakamoto and Finney stem from November 2008 and January 2009, the very month Bitcoin was launched.

On November 27, three emails that have never been seen before were made public in an editorial written by Michael Kaplikov, a professor at Pace University. According to Kaplikov, the emails derived from the New York Times contributor Nathaniel Popper. The NYT journalist also wrote the book “Digital Gold” and Hal Finney’s wife Fran Finney gave Popper the emails at this time. Kaplikov published the emails alongside his editorial after confirming that the emails were indeed legitimate, and stemmed from the now-deceased Hal Finney’s old computer.

Hal Finney was a well-known developer during Bitcoin’s earliest days and received the very first BTC transaction from Satoshi. Finney passed away on August 28, 2014, as a result of complications from Amyotrophic lateral sclerosis (ALS).

The first email is dated November 19, 2008, which was nineteen days after Bitcoin’s mysterious creator published the white paper. Kaplikov, who has been studying the Bitcoin origin story, said that before the email, Nakamoto shared an early version of the Bitcoin codebase with a few people including Hal Finney. The early release origin story is well known, as Ray Dillinger and James A. Donald also received pre-release copies. In the email, Finney asked Satoshi about the number of nodes and scaling the Bitcoin network.

“Some of the discussion and concern over performance may relate to the eventual size of the P2P network,” Finney wrote to Nakamoto. “How large do you envision it becoming? Tens of nodes. Thousands? Millions? And for clients, do you think this could scale to be usable for close to 100% of the world’s financial transactions? Or would you see it as mostly being used for some ‘core’ subset of transactions that have special requirements, with other transactions using a different payment system that perhaps is based on Bitcoin?”

The researcher from Pace University also highlighted that soon after this particular email, Bitcoin’s creator allowed Finney commit access to the Sourceforge repository. Then another email dated January 8, 2009, shortly after the network was launched, Satoshi wrote to Hal. “Thought you’d like to know, the Bitcoin v0.1 release with EXE and full sourcecode is up on Sourceforge,” Nakamoto wrote. The creator also detailed that release notes and screenshots were also uploaded to the web portal bitcoin.org. The very next day, Finney replied to Nakamoto’s release email.

“Hi, Satoshi, thanks very much for that information,” Finney said on January 9. “I should have a chance to look at that this weekend. I am looking forward to learning more about the code.”

The very next day, Hal Finney took to Twitter and told his followers he was “running bitcoin.” It seems Finney did get a chance to look at the code after his recent correspondence with Nakamoto. In addition to the three unpublished emails, Kaplikov also discussed the email correspondence between Finney and Nakamoto that was given to the Wall Street Journal back in 2014.

The reason for this is because Kaplikov discusses discrepancies with the email’s timestamps. Kaplikov stresses that the January 2009 emails appear to be roughly eight hours ahead of Greenwich Mean Time (GMT). Just recently, new research from The Chain Bulletin contributor Doncho Karaivanov tried to pinpoint Satoshi’s home location by leveraging all his activity and scatter charts of all the timestamps.

Karaivanov’s study assumes that Satoshi Nakamoto lived in London (GMT) when he/she or they created the Bitcoin project. However, studies from the past show that Nakamoto could have also resided in California on the west coast and some have asserted he lived on the eastern side of the United States. Moreover, it is also assumed in a few of the studies that Satoshi Nakamoto pulled a lot of ‘all-nighters’ and crammed his work before he left the project.

Finney passed away on August 28, 2014, after suffering from complications from Amyotrophic lateral sclerosis (ALS). Bitcoiners and crypto proponents everywhere think of Finney in the highest regard, as he once said that the computer could help liberate people.

“It seemed so obvious to me,” Finney explained before his death. “Here we are faced with the problems of loss of privacy, creeping computerization, massive databases, more centralization – and [David] Chaum offers a completely different direction to go in, one which puts power into the hands of individuals rather than governments and corporations. The computer can be used as a tool to liberate and protect people, rather than to control them.”

The recently published emails are interesting and give some new insight into the early relationship between Nakamoto and Finney. The emails and Finney’s post on Twitter on January 10, clearly show he was very excited about this project and specifically made time available to look at Bitcoin right away. The email timestamps simply add more to the Satoshi Nakamoto identity mystery, and the uncertainty of the inventor’s whereabouts during the cryptocurrency’s creation period.

What do you think about the email correspondence between Nakamoto and Finney? Let us know what you think about this subject in the comments section below.

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Chinese Police Seize $4.2 Billion in Multiple Cryptocurrencies From Plustoken Ponzi Clampdown

Chinese Police Seize $4.2 Billion in Multiple Cryptocurrencies From Plustoken Ponzi Clampdown

Chinese police have seized more than $4.2 billion worth of crypto assets in its clampdown against the Plustoken Ponzi scheme.

According to a court ruling made public on Nov. 26, and shared by The Block, law enforcement confiscated a total of 194,775 bitcoin (BTC), 833,083 ether (ETH), 1.4 million litecoin (LTC), and 27.6 million EOS.

They also took 74,167 DASH, 487 million ripple (XRP), 6 billion DOGE, 79,581 bitcoin cash (BCH), and 213,724 tether (USDT).

The assets were seized from seven persons convicted during the police crackdown, says the court judgment. Altogether, the cryptocurrencies are valued at more than $4.2 billion, using prevailing market prices.

The Yancheng Intermediate People’s Court ruling said once the digital assets are processed as per existing national laws, they will be forfeited to the national treasury. However, it is not clear how exactly this process will be done.

In July, police in China arrested 109 people linked with the Plustoken Ponzi scheme – 27 of whom were believed to be the alleged masterminds. Local media reported then that the racket had scammed $7.6 billion worth of crypto from over two million people.

The scheme touted itself as a crypto exchange and wallet provider, promising users who invested a minimum of $500 in bitcoin high daily payouts. The Yancheng Intermediate People’s Court said Plustoken operated officially between May 2018 and June 27, 2019, drawing in over 2.6 million members across 3,293 levels.

During this period, the pyramid scheme absorbed in excess of 314,000 BTC, 117,450 BCH, 96,023 DASH, 11 billion DOGE, 1.84 million LTC, 9 million ETH, 51 million EOS, and 928 million XRP.

The court said the assets were worth around 14.8 billion yuan or about $2.2 billion at the time of the absorption. Current valuations put the loot above $11 billion yuan. Plustoken used these funds to pay members to recruit new targets, while the scheme masterminds allegedly cashed out some for daily and personal spending.

The Ponzi collapsed in June 2019, citing “system maintenance” – a typical scam exit strategy. Chinese authorities quickly moved in, arresting dozens of the Plustoken key members.

According to the latest court ruling, a total of 15 people have been convicted so far and sentenced to between two to 11 years in prison with fines between $100,000 to $1 million.

What do you think about the Chinese police Plustoken digital assets seizure? Share your thoughts in the comments section below.

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KP2R Network: A Decentralized Marketplace for Developers

KP2R Network: A Decentralized Marketplace for Developers

PRESS RELEASE. The past decade has witnessed a revolution in traditional finance led by the utilization of blockchain technology. Blockchain technology has shown greater use cases since the development of leading coin Bitcoin.

It has been used in different sectors of world economics including, health, agriculture, supply management, finance and many more. However, one sector that is in need for blockchain application is the online marketplace industry.

Freelancing has become popular with more skilled workers preferring the flexibility of freelance jobs than the restrictive nature of traditional office jobs. This has led to a unique industry where people work remotely and get paid for their services. Traditional freelance marketplace like Upwork, Fiverr and Freelancer.com allow workers from across the world in a conducive environment.

However, these platforms are not perfect and have major flaws. They typically charge workers high commission fees with Fiverr and Upwork charging up to 20% and also implement a waiting period before funds are received.

Keep2r Network looks to change this by using blockchain technology to create a platform that ensures workers are able to connect with job opportunities.

What is Keep2r Network?

Keep2r Network is a decentralized platform that is inspired by Andre Cronje’s Keeper Network. Cronje is a famous crypto developer behind the successful YFI defi protocol and Keeper Network.

Keep2r Network is a successful fork of the Keeper Network and implements the core features of a decentralized platform. It is a decentralized platform for projects that need external developers and for development teams to find jobs. This makes it essentially a job matching platform.

A unique platform for developers

Keep2r network ensures that developers that execute jobs are rewarded promptly and everything is performed on the blockchain. The major components of the Keep2r network are the Keeper.

A Keeper is a term used to describe a person or team that executes a job available on the Keep2r network. These jobs can be as simple as making a transaction or complex off-chain programming jobs.

What makes the Keep2r network unique is that it allows contracts to register as a job for keepers who then register to pick up available jobs. Also, each keeper can set up their own rules and infrastructure based on transactions they feel are profitable.

Jobs in the platform are in the form of a smart contract that requires action from keepers. These contracts are designed to be performed properly and once registered can be acted upon by keepers.

Fully decentralized

Keep2r is fully decentralized and members are involved in the creation and execution of smart contracts (Jobs). All that is required for a worker is to register as a keeper. The process can be executed without KPR tokens and users can join with a bond.

The process then begins a bonding period which takes 3 days after which you can activate as a keeper. Once this process is completed a timestamp is registered to the Keep2r blockchain network.

Meanwhile, creating jobs is flexible and ensures an incentive mechanism for all parties involved. This is achieved using two different approaches, the first is via governance in which a proposal is submitted to include the contract as a job. If governance gets approved then it registers as a job.

The second way is to register a job via the Keep2r contract. However, using this method is complex and will create a pending governance vote for the job specified by the address in the function arguments. It also has a limit for a job request every 14 days using the address.

Payments are made by three mechanisms including paying via the native token KP2R, using Ethereum and liquidity provided tokens.

KP2R token

Keep2r Network is powered by its native token KP2R which is used to initiate smart contracts and also for payment of rewards on the platform. KP2R is an erc-20 token that is built on the Ethereum blockchain network.

Apart from this the token can also be staked for rewards and can also be exchanged on popular exchanges including Uniswap.

In conclusion, Keep2r Network is an ideal platform for lovers of decentralized platforms with its innovative ideas. You can learn more about the token on CoinMarketCap and read about its applications on its website.

 


This is a 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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