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Hydro to Fork Coinbase-Listed 0x (ZRX), Get Rid of Crypto Token

The Hydro Foundation has announced its decision to fork the 0x (ZRX) protocol. In a statement signed by CEO Tian Li, who is also the CEO of Ethereum DEX platform DDEX, the company revealed that even though 0x has contributed greatly to the growth of DDEX into one of the largest decentralized exchange (DEX) platforms on Ethereum, The post Hydro to Fork Coinbase-Listed 0x (ZRX), Get Rid of Crypto Token appeared first on CCN
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New White House Bitcoin Supporter Unlikely to Cause a Crypto Stir

This week President Donald Trump tapped Mick Mulvaney, his administration’s budget director, to serve as acting White House chief of staff. Notably, Mulvaney has made past comments that suggested strong support for bitcoin. But anyone expecting Mulvaney to be an impactful White House bitcoin crusader should have their doubts, practically speaking.  Also see: Meet Hydro: Large Relayer Forking 0x, Axing ZRX Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Mulvaney Will Temporarily Be Chief of Staff, Unlikely to Have a Tenure that Impacts Bitcoin Much President Trump has named Mick Mulvaney, his current Director of the Office of Management and Budget (OMB), as his acting chief of staff. The move comes as General John Kelly, who had previously served as the president’s top aide, departed the White House this month. Tired of the chief of staff search headlines, Trump went to Mulvaney and said he had a job to fill. Mulvaney said he would do it on a temp basis, I’m told. But source says Mulvaney is eager to do the job and not worried about the challenge of dealing wirh Trump. — Jim Acosta (@Acosta) December 15, 2018 Mulvaney’s appointment immediately generated buzz in the cryptocurrency ecosystem, where headline watchers noted the 1600 Pennsylvania Avenue-inbound budget director had previously lavished praise on bitcoin. Speaking to a chapter of the controversial John Birch Society in 2016, Mulvaney argued bitcoin was a step forward because it was “not manipulatable [sic] by any government,” adding that the Federal Reserve has “devalued the dollar” — a sentiment that’s right at home with Fed critics in the cryptocurrency ecosystem. Trump’s OMB pick is anti-Fed and pro-Bitcoin https://t.co/jlwxVGyMzE pic.twitter.com/rbuYmmIcSt — Matt O'Brien (@ObsoleteDogma) December 19, 2016 The resurfacing of these comments upon Mulvaney’s selection to be the president’s acting chief of staff caused many bitcoiners to wonder how the new White House aide might affect bitcoin from “the inside.” Realistically, however, Mulvaney’s tenure as President Trump’s top aide is unlikely to directly impact bitcoin — at least as things stand. For one, Mulvaney will be acting chief of staff. He could stick around for a year, but no one would be surprised if he got a full-time replacement in a month’s time or less. He simply may not be around the residence for long. Those expecting Mulvaney to be a bitcoin crusader in the White House might want to bring their hopes down a notch. Secondly, and more importantly, Mulvaney will reportedly be staying on as OMB director while he assumes the chief of staff’s duties. If Mulvaney wasn’t busy as hell before, he will be now. He likely won’t have much time to sleep in the weeks ahead, so he likely won’t have much time to advocate for personal interests like bitcoin either. And his authority will be limited to carrying out the orders of the president. Yes, Mulvaney’s expressed some optimism about Bitcoin in the past. I wouldn’t really read too much into what this might mean for the future for cryptocurrencies in Washington though. https://t.co/AMO0PU1G9I — Colin Wilhelm (@colinwilhelm) December 15, 2018 Where Mulvaney’s new role is, in fact, more notable for the cryptoverse is that 1) it can be seen, and has already been cast, as a public relations coup for bitcoin, and 2) Mulvaney will have Trump’s ear as much as anyone for as long as he serves as the president’s top aide. What both of these threads will ultimately amount to remains to be seen. They are certainly ones to keep an eye on, particularly the latter, but if it’s direct political action on bitcoin you’re craving, you’re better off looking to the states for now — not the White House. Bitcoin Increasingly Becoming a Political Factor In 2018, America saw its first two pro-bitcoin governors elected: Jared Polis in Colorado and Gavin Newsom in California. For his part, Governor-elect Polis co-chairs the Congressional Blockchain Caucus, an association in the House of Representatives he helped start in February 2017. Moreover, he has talked openly of his desire to legislatively embrace bitcoin and blockchain tech since at least 2014. As for Governor-elect Newsom, he was among the first U.S. politicos ever to accept political donations in bitcoin. Once sworn in next year, these two governors will have wide executive purviews in how they can approach the cryptoeconomy in their states. Some states, like Wyoming, are seeing their legislatures forge their own paths on crypto and blockchain without waiting around for what a governor says. Whatever does end up happening in the U.S. in the years ahead, it’s clear that bitcoin has only just begun to become a political topic in America. What’s your take? Will the new White House bitcoiner be impactful or a non-story when it comes to advocating for the genesis cryptocurrency? Let us know in the comments section before.  Images via The White House, Pixabay The post New White House Bitcoin Supporter Unlikely to Cause a Crypto Stir appeared first on Bitsonline.
Bitsonline

DDEX To Fork the Ox Protocol, Remove ZRX and Name their New Protocol Hydro

After much deliberation, the team at the DDEX decentralized exchange has decided to fork the Ox protocol that is the backbone of the exchange. Tian Li, CEO of DDEX, made the announcement two days ago via a Medium post. Mr. Li praised the efforts of the Ox team in delivering a high quality, useful code with smart contracts that DDEX has used to become one of the largest decentralized exchanges on the Ethereum network. But due to diverging future plans, the team at DDEX has decided to rewrite a major part of the codebase as part of their ‘fork’. Tian Li went on to further explain their recent move to fork the Ox protocol and remove ZRX to create Hydro. Although we were thrilled to see 0x tackle such a wide range of important issues, our perspective of what’s most urgent diverged. Being on the front-lines, it is painfully apparent that most DEXs today still are plagued by rudimentary problems such as order collision, front-running, and poor liquidity. After much deliberation, we’ve decided to fork the 0x protocol. Although we are using the term “fork” to give proper credit, we rewrote a large portion of the codebase. We plan to ship a new order schema, an engine capable of true matching, robust market orders, and a fundamentally different liquidity sharing model. The ZRX token will be removed as well, because fee-based tokens create unnecessary friction. We are calling this new protocol Hydro, to emphasize that liquidity matters above everything else. Do or Die for DDEX According to DDEX’s website, the decentralized exchange is currently in the process of migrating to Hydro. In the medium post, the CEO of DDEX, acknowledged that if the new hydro protocol does not deliver, DDEX will be outclassed and quickly become irrelevant. About the Ox Protocol The Ox protocol facilitates the exchange of ERC20 tokens, game items and other digital assets on the Ethereum network. The protocol enables developers to focus on building while Ox handles the exchange. By sharing a standard API, relayers can aggregate liquidity pools, creating network effects around liquidity that compound as more relayers come online. Use case of Ox include: Gaming and collectibles Prediction markets Order Books Decentralized loans Stable tokens Relayers is a name used to refer to exchanges using the protocol. This name is preferred rather than the common term of ‘exchanges’. Current relayers using the Ox protocol and their 24 hour trade volume can be found below. DDEX – $274,353 in 24 hour trade volume Radar Relay – $61,290 in 24 hour trade volume  STAR BIT – $3,704 Token Jar – $307 Paradex – $305 The Ocean – $26 What are your thoughts on DDEX forking the Ox protocol, removing ZRX and creating Hydro? Please let us know in the comment section below.  The post DDEX To Fork the Ox Protocol, Remove ZRX and Name their New Protocol Hydro appeared first on Ethereum World News.
Ethereum World News

Japan Looks to Designate Virtual Currencies as ‘Crypto Assets’

Japan’s top financial regulator the Financial Services Agency (FSA) has moved toward specifically categorizing bitcoin and other cryptocurrencies as “crypto-assets.” That designation reportedly comes so Japanese citizens know clearly these assets aren’t government-backed legal tender. Also see: Meet Hydro: Large Relayer Forking 0x, Axing ZRX Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Talking About Legal Tender: Splitting Hairs An FSA advisory panel submitted a review on December 14th that formally requested the agency change how cryptocurrency is legally referred to in Japan, domestic news agency Yomiuri Shimbun has reported. The panel, citing concerns over citizens potentially misunderstanding the generic phrase of “virtual currency,” has proposed designating cryptocurrencies specifically as “crypto assets” to avoid any possible ambiguity. Accordingly, the FSA will now review and modify relevant legislation to implement the requested update. Will the “crypto assets” definition play a big role going forward? Time will tell. Last year, the Japanese government amended its Payment Services Act to allow virtual currencies as forms of payment. However, the Payment Services Act defined cryptocurrencies as “property value,” which could be used to purchase goods and services but was not considered government-backed legal tender. The new language update will be aimed at even further legal clarity. The Crypto Assets Name Game Generally speaking, the crypto-friendly Japanese government has been ahead of the curve when it comes to embracing the cryptoverse. That government now finds itself in the midst of what many other administrations are currently grappling with: how to legally classify cryptocurrencies. Much ado about names may seem silly, but each specific legal designation carries different legal implications in any jurisdiction, e.g. securities, commodities, property, money, etc. For example, the central bank of South Africa, the South African Reserve Bank, recently chose to refer to virtual currencies as “cyber-tokens” as the bank argued such tokens have no traits of money. “We don’t use the term ‘cryptocurrency’ because it doesn’t meet the requirements of money in the economic sense of the stable means of exchange, a unit of measure and a stable unit of value,” the reserve bank’s Deputy Governor Francois Groepe said at the time. Earlier this year, Anatoly Aksakov, a member of National Banking Council of Central Bank of Russia, said that the draft regulations for the crypto space will domestically refer to virtual currencies as “digital rights.” Aksakov emphasized that terms such as cryptocurrencies, digital currency, and digital money will disappear in the nation. For now, that remains to be seen. How does the categorization of virtual currencies impact the crypto space? Share your views in the comments section. Images via Pixabay The post Japan Looks to Designate Virtual Currencies as ‘Crypto Assets’ appeared first on Bitsonline.
Bitsonline

Meet Hydro: Large Relayer Forking 0x, Axing ZRX

DDEX is a decentralized exchange stack that made a name for itself in the cryptoverse in becoming one of the largest liquidity relayers on the 0x protocol. Now, DDEX’s backers are forking and editing 0x into Hydro, and 0x’s ZRX token is on their chopping block  Also see: In Cryptoeconomy Drawdown, Some EOS Block Producers Feel the Sting Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Hydro Opens the Floodgates Tian Li, speaking on behalf of himself and the other builders of the DDEX decentralized exchange, declared in a December 14th notice their team would be forking 0x into Hydro, a new protocol they’re aiming to better fulfill DDEX’s on-the-ground needs. The departure is a notable one for 0x. DDEX was one of the protocol’s largest relayers, which create cryptographically-underpinned order books and facilitate trades accordingly. Li noted problems with “order collision, front-running, and poor liquidity” as general factors that drove his team to decide they could forge a better system. The DDEX team had built the exchange to leverage their own resident network layer dubbed Hydro Protocol, which hitherto leveraged 0x as an order-settlement layer atop Ethereum. 0x is losing a large relayer and gaining a competitor. Permissionless cooperation comes hand in hand with permissionless competition. Image via Useful Coin. With an 0x fork in the cards, the Hydro team will be merging their previously outlined network and order-settlement layers with a mind toward optimizing trade liquidity. “Although we are using the term ‘fork’ to give proper credit, we rewrote a large portion of the codebase,” Li said. “We plan to ship a new order schema, an engine capable of true matching, robust market orders, and a fundamentally different liquidity sharing model. The ZRX token will be removed as well, because fee-based tokens create unnecessary friction.” What the removal of ZRX and the merging of the new Hydro’s network and order-settlement layers means for DDEX’s previously outlined HOT token remains unclear. HOT had been outlined as a way to provide incentives for liquidity providers, offer liquidity pool memberships, and create a market maker bounty system. ZRX Under the Microscope As it stands, the departure of DDEX seems hardly a mortal blow for either 0x or ZRX. And 0x’s creators, in building an open-source project, are likely unsurprised to have forkers on their hands. Yet DDEX’s respectful flight falls far short of a ringing endorsement, too. In their talk of moving away from ZRX and a fee-based system altogether, the Hydro team is saying, in effect, that these two elements aren’t necessary for relayers’ operational needs. If that line of argument is followed, then one could conclude 0x’s model may be structurally flawed. Reasonable people can disagree on that point, but it’s a debate that undoubtedly surfaces in the wake of such a fork. As for ZRX itself, it’s been a sweet and sour 2018. Sweet, because the token ascertained an ever-coveted Coinbase listing this past October. Sour, because the token’s price has sunk to around $0.25 USD after reaching a high of $2.57 on the year. Going forward, let’s see how the token and its parent protocol weather Hydro’s high-profile, though courteous, mutiny. What’s your take? Are you surprised by the Hydro fork, or are such splits just par for the course in the cryptoverse? Let us know in the comments section below.  Images via Pixabay, Useful Coin The post Meet Hydro: Large Relayer Forking 0x, Axing ZRX appeared first on Bitsonline.
Bitsonline

ZeroEx International Announces 0x Ecosystem Acceleration Program

ZeroEx International Announces 0x Ecosystem Acceleration Program ZeroEx International just announced an acceleration program for the 0x ecosystem. The acceleration program is designed to help users jumpstart a business or research initiative on 0x. ZeroEx’s Blake Henderson in a blog post announcing the news explains, “We are thrilled to publicly announce the 0x Ecosystem Acceleration Program (EAP).” “The 0x ecosystem has grown organically to serve a wide array of markets ranging from in-game items to traditional financial assets.” The new Ecosystem Acceleration Program, however, is designed to encourage more growth on the platform. The acceleration program will offer funding, technical support, and business expertise to promising projects seeking to build on 0x. Projects can include businesses, open-source initiatives, and research projects. The EAP will aim to support development in three targeted areas, including: Helping Early Stage Projects Get Off the Ground: ZeroEx International is already funding startups building in a variety of 0x relayer verticals, including order book exchanges, NFT marketplaces, prediction markets, and more. The Ecosystem Acceleration Program will expand this program even further and help more early stage projects get off the ground. Investing in Tooling and Programs to Support All 0x Businesses: ZeroEx also wants to support talented teams who wish to build open-source infrastructure benefiting the whole ecosystem. The Ecosystem Acceleration Program will identify projects that are benefiting the 0x ecosystem and inject them with funding to help them grow. Promoting Technological Breakthroughs: Finally, ZeroEx aims to use the accelerator program to promote technological breakthroughs via targeted research grants. “We are backing projects attempting to solve research problems in the field of cryptography, economics, and computer science to improve scalability and governance,” explains ZeroEx in its blog post. 150 million ZRX tokens have been allocated for ecosystem development. The goal is to distribute $1 million through the accelerator program every year. The grants will range in value from $10,000 to $100,000. Grants will be awarded based on the stage of the project, the quality of the team, and the commitment of the team, among other factors. Today, the ZRX token is sitting at a value of around $0.28. The token hit an all-time high of $2.37 in January 2018 before slumping with the rest of the crypto market. There’s a total supply of 1 billion ZRX tokens, with approximately 551 million tokens in circulation. In addition to financial support, ZeroEx wants to pair startups with venture capital financing. “For teams looking for follow-on investment, we can offer introductions with leading venture capital firms.” So far, 15 projects have already been accepted into the 0X Ecosystem Acceleration Program. ZeroEx aims to add many more projects over the coming months. You can apply for the EAP here: https://0x.smapply.io/
Bitcoin Exchange Guide

BLOC Provides Update about Singularity Exchange and Laser Projects

VANCOUVER, British Columbia, Dec. 14, 2018 (GLOBE NEWSWIRE) -- GLOBAL BLOCKCHAIN TECHNOLOGIES CORP. (CSE:BLOC) (FSE: BWSP) (OTC:BLKCF) ("BLOC" or the "Company") has recently finalized some important milestones of its projects Singularity Exchange, a decentralized crypto asset trading platform, and Laser, a second-layer interoperability network for blockchains. These projects have undergone some changes, as a result of both the shift in the crypto markets and developments related to the projects themselves. Despite the market shift, both projects are currently on track to perform as anticipated, due to the impact that they will have on the blockchain ecosystem, as well as the broader financial markets. The Company has developed a crowdsale platform to be part of the Singularity Exchange, which will be for the sale of utility tokens, which includes asset types such as network access tokens and corporate loyalty tokens. The first crowdsale that will be held on Singularity is for the AMR token, the underlying crypto asset of Ammbr, a blockchain-based decentralized wireless mesh network project that BLOC's sister company Global Blockchain Mining Corp. ("FORK") recently announced its involvement with. This crowdsale will begin on Tuesday, January 8, 2019, which will also be the official launch date of the Singularity Exchange. Further information will be provided in a later press release. Moreover, BLOC is tailoring Singularity's approach to the needs of crypto asset traders by making it a "meta exchange" for other DEX (decentralized exchange) platforms, in addition to providing custodianship, making Singularity a unified trading solution. At its launch date, Singularity will support Stellar's decentralized exchange, with support for Ethereum's 0x DEX network to be integrated by the end of Q1 2019, and several more to be added by the end of 2019. With respect to custodianship, Singularity's custodianship platform will be a decentralized network by itself, using BLOC's Laser protocol. For simplicity, custodianship on Singularity will be centralized at the outset, though it will become decentralized in steps. Originally, Laser was built to be a second-layer protocol for underlying blockchain networks to interoperate with one another, having its own native token as a way of adding more value to the network. In the interest of focusing on projects which will generate immediate revenue, such as the Singularity Exchange and the Dubai-based trade finance project (announced August 16, 2018), BLOC has elected to not proceed with creating a native token for the Laser protocol. Nevertheless, Laser will be able to function exactly as originally planned, operating as a second-layer network that enables interoperability between the blockchain networks of Bitcoin, ...Full story available on Benzinga.com
Benzinga

0x Bonanza Continues With $50M Ecosystem Acceleration Program

Cryptocurrency faces a chicken-and-egg challenge: mainstream adoption. Without mainstream adoption, there is little incentive for developers to build the applications that will create mainstream adoption. It’s a cycle that 0x hopes to break as it announces a a grant program of 150 million ZRX tokens (currently worth around $50 million) to help buidl infrastructure projects and participation in the 0x network. This new ‘Ecosystem Acceleration Program’ is designed to incentivize developers to let their imaginations run with new ideas, while making it financially possible for them to do so – which should, theoretically, accelerate user growth. Co-founder of 0x Will Warren explained that “The 0x ecosystem has grown organically to service a wide variety of markets, ranging from in-game items to traditional financial assets. It’s important we continue the great work that’s already been done by accelerating development in the ecosystem by supporting exciting projects that share our vision for a more open financial system.” Fifteen teams have already received funding, which is available in amounts ranging from $10k to $1M. But for a million bucks, the standards are high. Raday Relay, is one of the first recipients of a grant, and noted that  “The 0x Ecosystem Acceleration Program provides early-stage projects access to technical resources that will help shorten development time, bringing the right products to market sooner. With both financial and technical support from the 0x team, the program is a great opportunity for companies interested in making an impact with the 0x protocol.” Grant, Not Equity Crucially, 0x does not own any part of the project – providing further incentive to develop without constraint. The Ecosystem Acceleration Program is more than just a cash grant, however: the cryptocurrency ecosystem has suffered as a result of too many founders receiving too much money, and not really knowing how to execute a business plan. So to mitigate the possibility of failure, 0x is also offering project leaders access to business-critical functionality elsewhere, including legal and marketing resources, tech support from 0x developers, and “introductions to leading venture capital firms that could participate in the team’s next funding round.” 0x  recently released 0x Instant, which makes it easier for dApp users to purchase ERC-20 or ERC-721-based cryptocurrencies from an app or website. The ZRX token was also listed on popular U.S. cryptocurrency exchange Coinbase. 0x Instant makes sense considering that 0x is a protocol for trading tokens. By adding a few lines of code, dApps can streamline the process for onboarding users. As a result, dApp creators no longer need to send their users to a third-party platform to convert ETH into another token and then move it to a wallet. 0x Instant streamlines the process and is already being used by popular sites like decentralized prediction market Augur with its REP token. As an open protocol for asset exchange, 0x ultimately aims to support an ecosystem of interconnected exchanges and dApps that benefit from the network effect of a shared asset exchange infrastructure. A full review of the 0x Protocol was recently published by the Crypto Briefing research team.   The author is not invested in any token or currency mentioned here, but holds other digital assets. The post 0x Bonanza Continues With $50M Ecosystem Acceleration Program appeared first on Crypto Briefing.
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Dec 12th Crypto Daily Dose – Roubini, Vermont, KFC, OKEx, and More [VIDEO]

Roubini Goes Head-to-Head with Pompliano in Twitter Feud as ‘Bitcoin Buffet Bet 2' Lives Roubini Goes Head-To-Head With Pompliano In Twitter Feud As ‘Bitcoin Buffet Bet 2' Lives LevelTradingField Launches CADE Exchange for Crypto Derivatives LevelTradingField Launches CADE Exchange for Crypto Derivatives Bittrex Exchange Welcomes Trading with New USD Base Pair for 0x Protocol (ZRX) Bittrex Exchange Welcomes Trading with New USD Base Pair for 0x Protocol (ZRX) Vermont Starts New Blockchain Technology Research Working Group Vermont Starts New Blockchain Technology Research Working Group France Has Blockchain Advice for Australian Farmers Who Track Food from Farm to Table France Has Blockchain Advice for Australian Farmers Who Track Food from Farm to Table Amid Rumors, Kentucky Fried Chicken is Not Accepting Dash, Says CEO of KFC Venezuela Amid Rumors, Kentucky Fried Chicken is Not Accepting Dash, Says CEO of KFC Venezuela OKEx Changes Ticker for Both Bitcoin Cash ABC and Bitcoin Cash SV, Suspends Spot Trading OKEx Changes Ticker for Both Bitcoin Cash ABC and Bitcoin Cash SV, Suspends Spot Trading Onegold by APMEX Now Accepts Bitcoin and Cryptocurrency Payments Powered by BitPay Onegold by APMEX Now Accepts Bitcoin and Cryptocurrency Payments Powered by BitPay Kakao's Klaytn Partners with Atlas and Content Protocol to Push Mass Blockchain Adoption Kakao's Klaytn Partners with Atlas and Content Protocol to Push Mass Blockchain Adoption Central Bank of Netherlands Looks to Regulate Crypto Companies to Curb Money Laundering Central Bank of Netherlands Looks to Regulate Crypto Companies to Curb Money Laundering Crypto Startup ‘Fragments’ Releases New Stablecoin After Rebrand to Ampleforth Crypto Startup ‘Fragments’ Releases New Stablecoin After Rebrand to Ampleforth Justin Sun's New Proposal is to Cut the Energy Costs Of Tron (TRX) Smart Contracts Justin Sun's New Proposal is to Cut the Energy Costs Of Tron (TRX) Smart Contracts Spain's Partido Popular (PP) to Establish Blockchain Regulations On Cryptocurrencies Spain's Partido Popular (PP) to Establish Blockchain Regulations On Cryptocurrencies Did Bitcoin Futures Products Influence the 2018 Crypto Markets in Positive or Negative Way? Did Bitcoin Futures Products Influence the 2018 Crypto Markets in Positive or Negative Way? Fortune-500 Company Johnson Controls to Partner with Civic Blockchain Digital ID App Fortune-500 Company Johnson Controls to Partner with Civic Blockchain Digital ID App AELF Tokens Now Compatible with Decentraland for Virtual Real Estate LAND Purchases AELF Tokens Now Compatible with Decentraland for Virtual Real Estate LAND Purchases SPEND Reaches a New Milestone with Launch of a Seamless Payment Wallet SPEND Reaches A New Milestone With Launch Of A Seamless Payment Wallet South Korean Upbit Exchange Urges Authorities to Formulate Stricter Crypto Asset Regulations South Korean Upbit Exchange Urges Authorities To Formulate Stricter Crypto Asset Regulations Understanding Bitcoin's Highest and Lowest Price Points is Crucial to Crypto Investment Decisions Understanding Bitcoin's Highest and Lowest Price Points is Crucial to Crypto Investment Decisions New Australian Anti-Encryption Law Creates Controversy as Crypto Benefits Rise into Discussion New Australian Anti-Encryption Law Creates Controversy as Crypto Benefits Rise into Discussion
Bitcoin Exchange Guide

What’s The Real Reason Behind Coinbase Not Listing Ripple XRP?

Coinbase, the dominant US-based crypto exchange that was once known for only offering Bitcoin, Litecoin and Ethereum, has been on a coin listing spree. After listing Ethereum classic, Steller, Cardano, Basic Attention Token, Zcash and 0x earlier in the year, the company recently announced that they would be ‘exploring’ whether or not to list 30 more tokens on their exchange. Will Coinbase list all of the coins above? Source: Coinbase Blog Among the 30+ tokens being explored is none other than XRP, the token that many in the crypto space have suspected Coinbase or curving for months for unknown reasons. Almost every announcement of a new token to be added on Coinbase would create an uproar amongst members of the XRP community who feel that their favorite coin is unfairly omitted. There are several reasons why Coinbase may be hesitant to list XRP. For most of 2018, Ripple has been involved in a class action lawsuit filed by investors who feel that they were sold unregistered securities when they bought XRP. They claim this led to significant financial losses, and are also accusing Ripple of manipulating the markets. The plaintiffs are seeking a settlement of $5 million. The case has now been taken to Federal Court, with Ripple arguing that XRP is not a security and that the company and the cryptocurrency are separate entities. Ripple lawyers believe moving the case the federal court will give them an advantage because Federal Court has been known to favor corporate defendants. Regardless of how the case turns out, such a high profile lawsuit is unlikely to have been ignored by Coinbase, which would make sense to be the primary reason why they have been hesitant to list XRP. US Regulations First Unlike Binance, Kucoin or other major exchange, Coinbase is aiming to position itself as one of the most regulatory compliant exchanges. This is likely because it is the only way they can tap into the American institutional investor base, and hopefully one day launch their own Bitcoin ETF. Prematurely listing a token that is currently involved in a legal case which could determine if it is, in fact, an unregistered security would be too risky for Coinbase and its users. The fact that XRP is now the second largest cryptocurrency by market cap only magnifies that risk. “The court case may take years.”, Says CZ – Binance CEO,  “But if XRP is ruled as a security, it would seriously hurt a lot of US users, and to a certain extent, other users around the world too.  It certainly doesn’t look like a security to me, but that’s just one person’s opinion.” Therefore, we are likely to see many other smaller, less significant tokens may their way onto Coinbase before XRP gets approved if it ever does. The post What’s The Real Reason Behind Coinbase Not Listing Ripple XRP? appeared first on CryptoPotato.
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Crypto Bear Market is So Bad That an ICO is Day Trading its Holdings

Every day, the crypto market is on the verge of entering darker territory, and as prices continue to plunge, many cryptocurrencies have become the victims of sudden sell-offs. An initial coin offering (ICO) called Substratum has even taken to day trading its present ether holdings to make up for potential losses. In a YouTube video, a figure named Justin from the Substratum network announces that the company is opening the doors to a token swap set to begin on Monday, December 17. The smart contracts for the company will begin then and batch transactions will start happening over the Ethereum network. Old Crypto Becomes New Crypto Prior to this date, executives will be moving any remaining Ethereum tokens in their crowdsale wallet over to a new wallet. If a person’s tokens are on Binance, the switch will be occurring natively through the exchange. Thus, customers will not need to worry. If a customer’s tokens are locked up in a wallet for an airdrop, they too will not need to take any steps. The move from the present wallet to the new wallet will occur on its own time. All older tokens will become frozen and unusable while the new tokens will be transferred into customers’ wallets. The company is also moving from two decimal places to 18 decimal places, which representatives claim will make transactions faster and more efficient. The smart contract has been fully audited by Quantstamp; furthermore, 120 million old tokens have been burned thus far. They will not be coming over through the transfer but will rather disappear into what Justin calls “the ether.” These tokens are set to disappear completely. The transfer will not be done within a set timeframe. The transfer is indefinite and will last until all customers’ wallets have received their new tokens. Predicting What the Future Holds Substratum now has a full-time trader on staff, who has suggested that Ethereum is going to be continually tested over the coming months. The bear market is not letting up and he has stated that Ethereum could fall to as low as $60. Executives are not necessarily looking to cash out. Instead, they will be trading only a portion of the Ethereum they possess, which they claim will give them the chance to “trade up” and potentially earn a little revenue before the crypto market falls any further. Once the market becomes bullish again, Justin claims in the video that Substratum will be in a better place and will be able to create newer (and better) products. Do you foresee the market getting even worse before it gets better? Post your comments below. Image courtesy of Shuttershock The post Crypto Bear Market is So Bad That an ICO is Day Trading its Holdings appeared first on Live Bitcoin News.
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States Take Cryptocurrency Regulation Into Their Own Hands As US Federal Government Focuses On Blockchain

States Take Regulation Of Cryptocurrency In Their Own Hands, As US Federal Government Focuses On Blockchain Technology The regulation of cryptocurrency has been an ongoing problem for the United States (US). They have managed to outline particular processes involved with blockchain technology and have many trials that examine the way that it works in their industries. However, the fact that even government authorities have different classifications for the same token groups makes it hard to know how to handle them. As a result of the confusion, any states are working to become the friendliest places for cryptocurrency. Ohio even made an announcement recently that they would allow their residents to cover taxes with the use of crypto payments. In the meantime, the authorities are still in a state of confusion with defining and regulating the assets that clearly are in demand for residents. The ones making the most noise about the lack of organization of the federal policies aren’t stakeholders or even enthusiasts; these concerns also involve academics. Carol Goforth, a professor at the University of Arkansas, recently noted that there are presently four different regulators within the federal government that oversee how digital assets are dealt with, from their categorization to their issuance, and further. These four entities are the: Commodity Futures Trading Commission (CFTC) Securities and Exchange Commission (SEC) Financial Crimes Enforcement Network (FinCEN) Internal Revenue Service (IRS) The CFTC sees crypto assets as commodities, though the IRS shares a similar view in calling them property. The FinCen, which is run by the Treasury Department, regulates them with the same rules as fiat currency, but the SEC sees them much differently as securities. Professor Goforth expressed her skepticism that the regulatory entities would work together anytime soon, leading her to encourage the coordination between them for a more nuanced approach. As she puts it, her version of the rules would force the federal government to deal with each cryptocurrency as it is introduced, specifically identifying them by their functionality and the motivations of users. This is a path that at least one instance shows is happening within the federal regulators. The CFTC publicly requested details on the functionality of Ether and the Ethereum Network on December 11th. The document has 25 different questions that deal with the platforms purpose, functionality, scalability, and more. However, the effort to address a single asset by the CFTC isn’t necessarily a sign that the industry is turning towards the idea that the professor had in mind. None of the other regulators have taking this move and are holding on to the regulatory measures that they already have in line. Still, there’s always a chance that congressional legislators will make some changes in their framework. Darren Soto and Ted Budd, who are both US Representatives, brought in two bills on December 6th that will help with the improvement of regulatory framework and reduce the risk of price manipulation. These bills are called the Virtual Currency Consumer Protection Act of 2018 and the U.S. Virtual Currency Market and Regulatory Competitiveness Act of 2018, respectively. These two bills offer specific regulatory changes that could be made for the process to be smoother for exchanges, users, and everyone else involved. The first bill discusses that many situations that can arise in the market for price manipulation. The other requests an in-depth study that aims to improve the “burdensome regulations that may inhibit innovation.” Warren Davidson, the representative of Ohio, spoke at a conference in Cleveland where he noted his intent to bring in a new bill that would create a new asset class for tokens. As such, the regulation of initial coin offerings (ICOs) would become significantly less difficult. A week later, Davidson suggested a crowdfunding event to help with the creation of the US-Mexico border wall, which would include the use of blockchain and “wall coins.” Even though there appears to be a significant lack of clear regulations regarding cryptocurrency, blockchain technology is already being applied to daily operations. The use of this ledger with supply chain logistics is easily its biggest application, and federal authorities are looking to use it for food safety as well, especially considering the recent E. coli outbreak. The Department of Homeland Security announced their intention to use the technology as a way to protect their own activities. Their three subsidiaries are working together for a clear record of documentation that will help with fraud, counterfeiting, and forgery. The defense authorities for the federal government recently established an app that would help the members of the armed forced to learn how to use blockchain technology for the supply chain as well.
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Bitcoin Supporter Says Crypto is Unconfiscatable as Long as It’s Not in Regulated Exchanges

Bitcoin has many different features, but one of the most important is the fact that users are the real owners of their funds as long as they keep their private keys. However, when users have their funds stored in exchanges, Bitcoin can be confiscated. During a Q&A session during a Tampa Meetup, he said that Bitcoin being non confiscatable applies to exchanges that are not regulated. In general, centralized virtual currency exchanges are not a safe place where to store funds. The company behind the exchange is able to manage the funds as it considers, block some accounts and even experience security issues. If Bitcoin wants to remain non confiscatable, the best what a person can do is to store them in cold storage wallets. No one is able to move the funds from there unless they have the private keys. At the same time, he said that Bitcoin does not have just a single price because there are different markets listing it. He compared the price of Bitcoin (BTC) with Apple stock explaining that Apple’s stock price is determined by supply and demand in just one place. He has also talked about Bitcoin ETF and the fact that to have a stable price of Bitcoin everything needs to sit in one place. He went on saying that having all the BTC in one place is a risk even when it creates a more stable market. For example, he emphasized the fact that if all the BTC are located in just one exchange, hackers might focus only on it. Furthermore, the US government would also have the possibility to confiscate the BTC that users own or trade them. There are several crypto platforms that are regulated, including exchanges such as Coinbase or Gemini. Governments would be able to confiscate the funds that users have on these exchanges, thus deleting one of Bitcoin’s main characteristics. Moreover, he said that Bitcoin being under the control of governments is not positive for the space. A lot of people would completely lose the faith in the popular virtual currency. This is exactly what Satoshi Nakamoto was trying to avoid when it created Bitcoin.
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Hong Kong Businessmen Targeted by Bitcoin Bomb Threats After Recent USA and Canada Attempts

There have been many different ways to steal funds from individuals in the cryptocurrency market. However, a new methodology has been applied in Hong Kong and other countries such as the United States. According to a recent report released by the South China Morning Post, businessmen in Hong Kong are being targeted by criminals that want to steal Bitcoin from them. These scammers try to steal Bitcoins from victims by threatening them that they will receive a bomb if they don’t send Bitcoins in the time span the scammers provide. One of the affected individuals is Michael Gazeley, the CEO of Network Box. He received a message in his business email with this Bitcoin bomb threat. Furthermore, he said that he had to pay $20,000 if he wanted to avoid receiving a bomb in his office. Gazeley said to the news outlet: “This looks like the third wave of blackmail emails plaguing the world in the past few years… I have never seen something like this, which sounds like cyberterrorism, in my 20-year career in cybersecurity.” Nevertheless, he was 99.99% sure that the message was not worth. Indeed, he mentioned that the email had some typo mistakes and the grammar used was not exactly good. That shows that the main intention is to take a few bucks from some individuals rather than really bombing an office. Hong Kong authorities did not provide further information about this issue, thus it is not possible to know the exact number of companies affected by these threats. This is not the first time that there are Bitcoin bomb threats around the world. A few days ago, as reported by NBC New York. Hoax bomb threats spread asking users to pay in Bitcoin. The New York Police Department (NYPD) informed on Twitter that there was an email circulating that contained a threat asking for a Bitcoin payment. However, they say that they did not find any devices in some of the places where the threat arrived. Please be advised – there is an email being circulated containing a bomb threat asking for bitcoin payment. While this email has been sent to numerous locations, searches have been conducted and NO DEVICES have been found. pic.twitter.com/7omOs13Z7Q — NYPD NEWS (@NYPDnews) December 13, 2018 The NYPD went on explaining that the threats are meant to cause disruption and/or obtain money in a fast way. Although the police will be responding to the calls made by the community, they believe that the threats are likely ‘not credible.’ This is not the first time that there are scammers trying to steal Bitcoin and other virtual currencies from users. Earlier this year, scammers on Twitter were asking for Bitcoin and ETH deposits using fake accounts that stole famous people’s identities.
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