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NFT NYC: Non-Fungible Tokens New York City Blockchain Event

Non-Fungible Tokens (NFT) are cryptographic tokens that are representations of something unique and are used in crypto gaming and in creating unique digital assets such as crypto collectables. To highlight the importance of NFTs, on 20 February 2019, NFT.NYC is hosting an event at the Times Square, New York that will bring together the Digital Collectibles Ecosystem that is made up of blockchain developers, gamers, artists and fans. What Is NFT NYC? This will be the first NFT event in the United States and the main agenda of the event will be to discuss how Non-Fungible Tokens (NFT) are currently affecting the participants experience in owning and identifying digital assets. NFT NYC Topics Of Discussion Importance of NFTs NFT Trends and Early Successes The journey and roadmap of CryptoKitties Smart contract for beginners Creation of a smart contract system suitable for an In-Game economy Tokens, Coins and CryptoKitties investments Interoperability in the NFT Ecosystem How to market NFTs and increase their adoption Regulation of NFTs The Endowment Effect and NFTs Tokenizing Physical Collectibles The reason marketplaces and listings will play a crucial role in the adoption of NFTs The event will also cover how unique digital assets on the blockchain are anticipated to transform major sectors of art, finance, gaming and licensing. The PlayStation Theater, Times Square Billboard and social channels will cover the event insights during the day. There will be over 50 NFT Speakers attending the event that will have in-depth discussions on the Non-Fungible Blockchain Ecosystem. The speakers will include: Marguerite deCourcelle – CEO at Blockade Games John Kosner – sports media veteran William Mougayar – Author of The Business Blockchain Alex Mashinsky – Founder of Celsius Network Mary O'Hara – Attorney at Masur Griffitts Rene Schmidt – Co-Founder at Qwellcode and Project Manager at Brian Flynn – Product Designer & writer Topper Bowers – Founder of Quorum Control NFT.NYC will provide the attendees with one-on-one access to the speakers through the unique token distribution found in the NFT bag. In case the attendee has a particular speaker that they would like to talk to, they can exchange their tokens and receive a token that will provide them with access to their preferred speaker. Event tickets can be purchase on the NFT.NYC website. Individuals who are interested in becoming speakers at the event can make applications on the website or nominate others to become speakers. Why Attend NFT NYC Networking Opportunity Participants of the event will have the opportunity to meet industry leaders, influencers, fans, and developers PlayStation Theater in New York City where they might create beneficial business relationships. They will also enjoy meaningful discussions, industry briefing, and workshops from leading blockchain experts and brands. Learning Opportunity The event will enable participants learn how they can use NFT’s as social influencing tools to increase engagement within their community. They will also meet with financial influencers and learn why they think NFT’s will result in increased blockchain value. Great Location The PlayStation Theater where event is taking place contains state of the art audio-visual capabilities, which will be combined with the 85 ft. billboard in Times Square, which is great match for NFTs and will provide a perfect way to highlight the importance of NFTs in the blockchain ecosystem.
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Beyond Crypto — Blockchain Ethics

Photo by Virgil Cayasa on UnsplashBeyond Crypto — Blockchain EthicsIt’s easy to keep ethics away from a topic that is hard to understandIt might be a widely known fact, but I was definitely shocked to learn that the inventor(s) of bitcoin is (are) anonymous. Was a hidden identity meant to act as a metaphor for blockchain’s online anonymity? Or was it a way to hide from blame for unleashing a system into the world that holds enough power to eventually rule global currency, with no centralized entity to regulate it?I don’t have an answer to that question. I don’t think blockchain ethics has been discussed enough for us to know yet. Honestly, I think that no one is talking about this because blockchain is such a complex topic that most people struggle to even understand how it works.A few months ago, I too had no idea what crypto, blockchain, or bitcoin even were. This is why I wanted to try to make the inner-workings of blockchain more accessible for the ordinary, non-technical individual in an attempt to start an open dialogue. For those who have always wanted to understand the higher level, beautiful concepts of this crazy technology, or discuss the darker sides that unfortunately get ignored, here you will find it all.Welcome to the world of Blockchain.What Is It?Since the White Paper, Bitcoin: A Peer-to-Peer Electronic Cash System was written under the alias name Satoshi Nakamoto in 2008, ‘blockchain’ has become an inescapable buzzword. With nearly 15% of the world’s financial institutions using blockchain, it is clear that the technology is quickly materializing into society. Though blockchain technology can fuel more than just cryptocurrencies (see cryptokitties), it is most famously known for running bitcoin.At its roots, blockchain is an entirely decentralized, non-governed transactional system. It is run through many nodes that all together, result in a blockchain network. Each network contains a ledger. This ledger acts as the source of truth; it stores all of the transactions that have ever happened on the network. Similar to how a bank will store a user’s withdrawal and deposit transactions, a blockchain ledger will store every transaction that has occurred on a network. The ledger is publicly available to all of the nodes in the network.Bitcoin miners can run their own nodes (computer hardware) in hopes of obtaining a bitcoin through the combination of processing power and a little bit of luck. The difference between a bank’s ledger and a blockchain ledger is that a bank can make changes to their ledger at any point in time, since they hold all of the power. A blockchain ledger on the other hand doesn’t belong to any central entity. It is accessible and owned by every node in the network, and is entirely immutable.Without a central governing entity over a network, every transaction needs to be verified by a majority of the nodes. Transactions can include transferring cryptocurrency between two people, reversing old transactions, spending coins, and even blocking miners from using their own nodes. For example, if someone wanted to transfer their bitcoins to someone else, they would need their transaction to be verified by at least half of all the nodes in a network.It’s easy to see why a system like this can be so powerful.The GoodThe most obvious benefit of cryptocurrency is that it offers greater ease and autonomy for financial transactions. Without a third party governing monetary exchanges, cryptocurrencies allow people to send money to others, especially in other countries, with more privacy and ease than ever before.Even further, in a country where the currency is hurting it’s people (see how the Euro is hurting Greece), an unregulated form of currency could actually prove to be quite beneficial for the economy. No centralization and no government intervention on cryptocurrency means that control over the currency could be entirely up to a network of regular citizens. In this aspect, cryptocurrency is a libertarians dream.Thinking beyond currency, humans could even begin to use blockchain as a tool for an entirely decentralized online world. Blockchain is already being used for decentralized cloud storage. In the future, we may no longer need to blindly follow large tech companies and their rules/regulations because the internet could become a blockchain net. There have even been discussions about blockchain becoming the beacon of light we’ve been looking for to store the minute, sensitive data of our personal identities.At this point, it’s clear that cryptocurrency (and really all of blockchain) has the potential to place power over the digital world into the hands of the common person and away from oppressive corporations or governments.What could go wrong?The Not So Good51% Attacks and Double SpendingAs I mentioned before, blockchains are just nodes (people’s computers) working together to create a network. One of the beauties of these nodes is that their owners are anonymous. Unfortunately…. this anonymity can also be incredibly detrimental. A 51% attack is when one person or entity gains control of a majority (hence the name fifty one percent) of a blockchain network.One of the worst case scenarios of a 51% attack is double spending, when a unit of digital currency is spent twice. This would equate to someone buying their groceries at the store with a $20 US bill, then using their newfound power over the US currency to state that they are allowed to use that same $20 bill to buy whatever they want again.Theoretically, this can happen within any blockchain network as long as the defined majority of the nodes approve of the transaction. 51% attacks often result in an attempt to double-spend, because the ‘illegal’ transaction can easily gain a majority approval (since the majority belongs to the person attempting to make the ‘illegal’ transaction).I’m using quotes around ‘illegal’ as a reminder that illegality doesn’t really exist for a lawless, ungoverned entity.Last year a 51% attack on ZenCash caused $550,000 to be double-spent. An attack on Bitcoin Gold lost $18 Million. Actually, 2018 was one of the worst blockchain attack years in history. These attacks are a double edged sword, because as the public becomes informed of an attack, the targeted cryptocurrency becomes mentally devalued.This is an important concept because it highlights the fact that cryptocurrencies are only as valuable as humans believe them to be. (For more on this topic, I highly recommend reading the amazing Yuval Noah Harari’s thoughts on how currency, just like religion, only works through mutual trust).But Blockchain Breeds CredibilityThe benefits of mental devaluation extend even further than hindering 51% attacks. The subjective monetary value of cryptocurrencies make blockchain technology less prone to corruption, because it runs on credibility. As I said earlier, a bank can make any changes to its own ledger or be at risk for hacked changes to its ledger without any of the bank’s users becoming aware.In the case of blockchain, humans only value cryptocurrency if they trust that the transactions are true.“Blockchain provided the answer to digital trust because it records important information in a public space and doesn’t allow anyone to remove it. It’s transparent, time-stamped and decentralized.” — Bernard MarrSince blockchains publicly share all transactions with the nodes in the network, transparency breeds credibility; which directly gives cryptocurrencies their monetary value. Corruption is disincentivized in a decentralized network.An Ungoverned System Breeds MisuseWhile it is very good that the concept of blockchain hinders corruption, there are some more important ethical concerns accompanying this technology that I can’t leave unaddressed.The majority of these concerns stem from the fact that no one governs the networks. In the same way that the value of stocks change the more they are traded, as more units of cryptocurrency are traded, the value of that cryptocurrency increases.It is possible that Bitcoin’s early price increases (early trades) were almost exclusively guided by criminal activity.Since every transaction in a network is anonymous and cryptocurrency isn’t governed by anyone, blockchain has become infamous for aiding in money laundering, selling weapons or drugs, and other traditionally black-market-aided transactions. Many have become aware of the need for the potential governing of blockchain networks, but the inherent distributed nature of the system disallows any centralized regulation.Why not just try to regulate it then?If only it were that easy. Even if blockchain tech was modified to allow for centralized regulation… there would still be problems. If all countries have different approaches to titles, ownership, contracts, and transactions, how can a unified set of rules or laws be brought to fruition? If any disputes over previous transactions are made, who is the governing entity responsible for resolving this conflict? Since blockchains are immutable, how would societies handle a blockchain that adheres to modern regulations but fails to comply to unknown future regulations?What Should We Do?At this point in time, blockchain has the potential to go in two, very opposing directions. The subjective credibility of networks could lead to an ethical, decentralized and trustworthy platform capable of unifying privatized global currency, allowing humanity to have access to a safe and private digital identity, and placing the power of the internet into the hands of the people.Or, the immutable nature of networks and the lack of governability could lead to rampant misuse and systemic vulnerability.This is why I asked earlier if Satoshi Nakamoto chose to stay anonymous as a statement or from fear of taking the blame for unleashing such an unwieldy peace of technology at the world.The truth is, now that blockchain is out there is no stopping it. So, what now?I didn’t want to write this article to diminish the benefits of blockchain. Nor did I want to ignore the hard truth about some of the darker sides of this technology. As usual, I just want to raise awareness on this topic.In my opinion, the best solutions to problems come from communities of educated people. Hopefully my words can act as a beacon of understanding for those who have felt left out of the conversation. For those who were already in the loop, maybe these thoughts have sparked some motivation. Either way, it’s time for us to get moving. Guided by education and awareness, let’s work together to utilize blockchain for its amazing potential, while fixing some of the unintended consequences of rapid innovation.Beyond Crypto — Blockchain Ethics was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.

Top 3 Worst US States for Bitcoin Regulation

Delayed Bitcoin ETFs, subpoenas, and blockchain businesses forced to close, Bitcoin regulation in the U.S. is hardly encouraging innovation. If you’re looking for friendly pastures for your cryptocurrency company, avoid these three states at all costs. 1. New York New York has consistently hit the top of the list for its unsympathetic Bitcoin regulation. Its infamous BitLicense has been called out as “regulatory overreach” by many a key figure in the industry. These include ShapeShift’s Erik Voorhees and Kraken’s Jesse Powell. Speaking at Consensus in New York last year, Voorhees stated: Here we are two miles from the Statue of Liberty and you cannot sell CryptoKitties in the state without that license. That’s the absurdity of what’s happened here. Powell meanwhile spoke out against the former New York Attorney General Eric Schneiderman. He sent Kraken a request for customer information a full three years after the exchange had stopped doing business in New York. New York’s BitLicence has forced many a crypto company out of the state, highlighting the fact that regulation at a federal level is needed. Under the stipulations of BitLicence, exchanges have to disclose all information about their entire global client base. This is something not only abhorrent to most customers but also potentially illegal. Other countries have different privacy laws from the United States. However, a change may be on the horizon. New York’s Governor Andrew Cuomo recently signed a digital currency study bill creating the first cryptocurrency task force in the US. This will comprise technology and blockchain experts, as well as investors and researchers. The task force’s goal is to promote a healthier cryptocurrency economy while protecting New York investors. Time will tell if it’s a success or yet another case of regulation on steroids. 2. Rhode Island Rhode Island recently earned a place on this list as one of the worst states for Bitcoin regulation. Senator Sheldon Whitehouse labeled cryptocurrencies as an easy way for “foreign interference” in American elections. He also laid out new tax regulations for virtual currencies. The new Rhode Island Senate Bill No. 251 is called “An act relating to taxation — sale and use tax–non-collecting retailers, referrers, and retail sale facilitators act.” Apparently, the intention of the bill is to: Assess sales tax on marketplace facilitations, including those that provide cryptocurrencies used by buyers to pay for services. In other words? Make doing business a whole lot harder for blockchain businesses in the state. Wall Street veteran and cryptocurrency supporter Caitlin Long was quick to criticize on Twitter. She said that companies should just leave states that prevent blockchain innovation and strangle research and development: ARE YOU KIDDING?? Check out #RhodeIsland #crypto tax proposal—it’s so broad that it includes taxing software development + R&D. Get out of states that show by actions they don’t want #blockchain cos & come to #Wyoming where we do! @Tyler_Lindholm @SenatorDriskill @GordonGovernor — Caitlin Long (@CaitlinLong_) February 10, 2019 Long has made headlines lately by helping the Wyoming state to set out clear regulations that welcome and attract blockchain companies. Wyoming has even introduced bills to support cryptocurrencies as legal tender. This is far from the backward, draconian case of Rhode Island that still associates cryptocurrencies with criminal activity–and Russia. 3. Arizona Another newcomer to this list, blockchain attorney Drew Hinkes posted yesterday that Arizona had just become the next hostile state when it comes to Bitcoin regulation. Arizona is proposing a bill that imposes sales tax on marketplace facilitators that accept or require virtual currencies, following the lead from Rhode Island. #Arizona, come on down! You're the next state to propose a bill to impose sales tax on marketplace facilitators who require/allow #virtualcurrencies to be used by purchasers to buy products from sellers. Includes the broad "software development" clause flagged by @CaitlinLong_ — Drew Hinkes (@propelforward) February 12, 2019 To this, Caitlin Long responded that if the bill came into law it would make Arizona one of the three worst states for Bitcoin regulation–along with Rhode Island and New York. ANOTHER ONE—UGH!!! #Arizona was previously one of the #blockchain friendliest US states, but if this bill becomes law it will join #RhodeIsland & #NewYork as the worst. HOW DARE YOU TAX SOFTWARE DEVELOPMENT AND R&D??? #idiotic @propelforward @Tyler_Lindholm — Caitlin Long (@CaitlinLong_) February 12, 2019 The takeaway? The States is hardly known for its crypto-friendly regulation. But if you want to make things easier on yourself, avoid these three states like the plague. What other states should be added to the list? Let us know below! Images courtesy of Shutterstock The post Top 3 Worst US States for Bitcoin Regulation appeared first on

SpankChain CEO Attacks Ethereum Over Lack of Speed in Launching Blockchain 2.0 Version

Ameen Soleimani is known to the public as the CEO of SpankChain, a peer-to-peer platform that is setup for adult performers. Upon starting the venture, Soleimani had just left ConsenSys and was open about his support of Ethereum. In fact, SpankChain already had their company tokens running on the network, but that support is no longer what it was. A new report by Soleimani, which is titled “The State of Ethereum 2.0”, was published in partnership with the consultancy firm Kyokan. Some of the major issues that Soleimani says are wrong include a lack of funding, a lack of leadership, and a lack of vision. The report starts off by saying Soleimani’s opinion about what this upgrade actually is, saying, “Ethereum 2.0 refers to a set of specifications that will dramatically improve the performance characteristics of the Ethereum blockchain. As of this writing, it does so by merging and improving upon research from two older specifications: “Casper,” which introduces a proof-of-stake consensus mechanism, and “sharding,” which introduces the splitting of transactions across a number of “shards” secured by the main chain.” Continuing, Soleimani explains that the above “specs” show users that proof-of-stake allows the chain to be secure without additional equipment. There is also the added benefit of making a 51% attack costlier, reducing the overall risk. However, the lack of cooperation between the teams and the varied views on actually completing the chain are major problems in their ultimate plan. It is no secret that scalability has been an ongoing problem for Ethereum, ranging from CryptoKitties and the clogged network to the ever-delayed Constantinople upgrade. Some decentralized applications have even moved over to TRON or EOS blockchains instead, considering how slow the Ethereum blockchain tends to be. Without any of the benefits that are supposed to be present in a blockchain – like efficiency and speed – upgrades need to happen. Strong leadership can be found at TRON and EOS, which could be why the overall performance of the platforms is stable, but a truly decentralized platform has no leader. While Soleimani is quick to point out the benefits, the true admirers of Ethereum, along with developers, do not want this addition to their platform. Dismissing the suggestion quickly, Ben Edgington of PegaSys said, “This is disappointing talk, in my view. It’s old-school. Becoming just like all the other centralized development projects (Cardano, Dfinity, Polkadot…). It’s throwing the baby out with the bathwater. Ethereum’s superpower is its diverse and engaged community. The better path is to learn to do decentralization better.” Still, it is possible that Ethereum could run out of time to see their work play out if they do not change the course of their speed with more urgency.
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Ethereum Blockchain Dapps is in Shambles: 86% Dapps have No Users Today

In 2018, Dapps trend emerged in the market and started making the headlines. The 3rd largest cryptocurrency, Ethereum platform dominated the dapp ecosystem last year. But this year, the situation has changed. The success of Decentralized Applications (Dapps) in 2018 rivaled that of the App store in its earliest days. But according to the latest data, Ethereum has no much part left in this, as of now. There are now 1375 live ETH dApps.86% of them had 0 users today.93% of them had 0 tx volume today. Across all platforms there are now 1828 live dApps.77% of them had 0 users today.85% of them had 0 tx volume today. — Kevin Rooke (@kerooke) February 10, 2019 No doubt, dapps have a long way to go, however, out of the total 1812 Ethereum dapps, as per the data provided by StateoftheDapps, transactions are being made on only about 180 of them. When it comes to the usage of Ethereum Dapps, out of these 180 dapps, only 13 percent has more than 100,000 transactions on a day. While, 200,000 is the maximum registered transactions per day. Ethereum’s a Hot Mess Recently, Taylor Monahan of shared his concern about Ethereum’s Dapp ecosystem, in an interview stating, “One of the biggest problems with the Ethereum ecosystem right now is everything is really fragmented — from using Metamask to using a dApp. So if you want to send your CryptoKitties or create a Maker CDP, you go to the specific dApp. Then it’s like it sends this crazy transaction on Metamask. It’s really kind of intimidating and fragmented.” He further shared that, “As I’m actually starting to use these protocols more and more, it’s becoming wildly apparent that this is a hot mess.” Ethereum has been dealing with scaling issue for a long time now and currently working on its Constantinople hard fork coming at the end of this month. But Others aren’t Perfect as well According to the data provided by Dapp Radar, Ethereum has only 8 dapps in the top 50 while Tron and EOS dominate the dapp ecosystem in terms of users and volume. Recently at a conference in San Francisco, Vitalik Buterin founder of Ethereum took a jab at Tron by saying, “When a blockchain project claims ‘We can do 3,500 TPS because we have a different algorithm,’ what we really mean is ‘We are a centralized pile of trash because we only have 7 nodes running the entire thing.” For its thousands of transactions per second claim, Tron got a lot of heat as recently, former BitTorrent executive Simon Morris revealed, “The transactional capacity we [were] looking at was needing hundreds of transactions a second just to get started. It’s simply not there. You hear all the bullshit out there, oh, this does 10,000 transactions a second. It’s all crap. We were going to melt TRON.” The Dapp market has become a playground for crypto enthusiasts to gamble their coins as we reported earlier more than 95 percent dapp activity on Tron and over 70 percent on EOS are from gambling dapps. Moreover, in comparison to apps like Whatsapp and Telegram, a top ranking dapp DICE that has about 450,000 transactions per day, the Dapps are far from reaching mainstream adoption. The user adoption for now is still slow in the crypto and blockchain space.
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Billionaire Elon Musk Lauds Bitcoin As “Quite Brilliant,” Why Isn’t Tesla Going Crypto?

While Elon Musk has yet to formally delve into the Bitcoin space, he has long been a fabled member of the crypto community. Since finding his way to the headlines of the world’s media, the Tesla chief executive’s pro-innovation mindset has struck a chord with many enamored with cryptocurrencies. In fact, some say that Musk’s unsaid raison d’etre of bettering society at large, especially by amending the world’s most harrowing issues (climate change, confinement on Earth, financial inequality), lines up with the goals held by many cryptocurrency insiders. Thus, some have even argued that Musk could be Satoshi Nakamoto. Sahil Gupta, a former intern at Musk’s second multi-billion dollar enterprise SpaceX, once infamously claimed that Musk’s brief mentionings of cryptography, economics, the C++ computing language, along with the entrepreneur overarching vision scream Satoshi. The South African-Canadian entrepreneur has done his best to keep his mouth zipped regarding his candidacy for the Satoshi title, but that hasn’t stopped him from talking about cryptocurrencies. We had @elonmusk on the latest episode of @ARKInvest's podcast! He had a few things to say about Bitcoin. "Paper money is going away and cryptocurrency is a far better way to transfer value than pieces of paper." – Elon Musk — Yassine Elmandjra (@yassineARK) February 19, 2019 Bitcoin Is “Quite Brilliant” While the crypto market has remained in a depressed state, save for Monday’s jaw-dropping rally, stars have begun to descend on this industry. Weeks ago, NewsBTC reported that a mass of celebrities, including the Spice Girl’s Mel B, Johnny Depp, Madonna, and Lionel Messi, had some involvement in cryptocurrency. More recently, Jack Dorsey of both Twitter and Square took to Joe Rogan to claim that the native currency of the Internet is likely to be Bitcoin. Related Reading: Twitter CEO Loves Lightning on Bitcoin: is it the Future of Fast, Instant Payments? And just on Tuesday, Elon Musk, the most well-known Silicon Valley guru, took to the New York-based ARK Invest’s “FYI” Podcast to touch on Tesla’s plans, autonomy, other innovations, such as crypto. Per The Block, who compiled his comments regarding cryptocurrencies, Musk made his comments with explicitly bullish tones. After discussing Tesla’s most recent advancements, the hosts of the podcast, the CEO and an analyst at ARK, a disruptive innovation-centric investment group, took a brief aside. They asked Musk if he agrees with Dorsey’s recent comments on Bitcoin and cryptocurrencies at large. Interestingly, Musk responded with an answer, albeit somewhat cursory. He tacitly agreed, noting that the “Bitcoin structure was (is) quite brilliant,” adding that Ethereum and “maybe some of the others” have merit too. Musk did admit that he isn’t too enamored with Bitcoin’s Proof of Work (PoW) consensus mechanism, noting that it is energy intensive. Yet, he explained that fundamentally, crypto assets are great as they bypass currency controls, especially in nations embroiled in financial and political turmoil, like Venezuela. He added that cryptocurrencies are also a “far better way to transfer value than pieces of paper,” subsequently quipping that he’s sure of this “without a doubt.” In spite of all this, he made it clear that Tesla isn’t going to foray into the crypto space in any capacity, noting that it would be a good use of his firm’s resources to prop up an offering. Musk’s abrash comments quickly elicited responses from each and every corner of the crypto space. Matt Odell, a long-time pro-Bitcoin coder and industry personality, joked that the comments “confirmed” his bias that cryptocurrencies could oust banknotes. Changpeng “CZ” Zhao of Binance noted that eventually, “[Musk] will join the brotherhood,” adding that he is unequivocally sure that the businessman will take up a crypto mantle. CZ notably called on the Tesla founder to take up the Lightning Network Trust Chain torch last week, just days after Twitter’s Dorsey openly lauded Bitcoin in dozens of tweets. Crypto Is Better Than Banknotes? While Musk made notable acknowledgments in his brief appearance on ARK’s “FYI,” what stood out to many crypto investors was his thoughts on the dichotomy between banknotes & physical cash, and crypto assets, not centralized e-money. For a brief recap, Musk simply stated that he is unequivocally sure that crypto, whether it be Bitcoin, Ethereum, or otherwise, is a “far better” medium of exchange than pieces of paper. Shocking, right? This may be deemed hearsay by pundits of the legacy world, but the world is already adopting digital mediums of exchange. Per previous reports from this outlet, Arthur Hayes of BitMEX took to his company blog to claim that platforms like WeChat Pay and AliPay have already begun to take over China’s financial system. Who’s to say that cryptocurrencies, a decentralized counterpart to these systems that tout their own currencies, cannot have a similar impact on society at large. The fact of the matter is that these digital payments systems, whether decentralized or centralized, offer benefits that cash/plastic cannot. Case in point, payments on both Bitcoin and WeChat Pay are cheap, rapid, and relatively secure. But arguably, decentralized payment ecosystems, which are non-sovereign, private, immutable, and non-censorable, are even better than their centralized peers, which is likely what Musk was touching on. Featured Image from Shutterstock Billionaire Elon Musk Lauds Bitcoin As “Quite Brilliant,” Why Isn’t Tesla Going Crypto? was last modified: February 20th, 2019 by Nick ChongThe post Billionaire Elon Musk Lauds Bitcoin As “Quite Brilliant,” Why Isn’t Tesla Going Crypto? appeared first on NewsBTC.

In the Daily: Elon Musk Talks Bitcoin, Shanghai’s Fudan University, Xdat Exchange

In this edition of The Daily we cover some largely supportive remarks the famous entrepreneur Elon Musk has made about Bitcoin, the latest academic institution to launch a blockchain R&D center, and a new offering from Malta-based exchange Xdat. Also Read: Bank of Spain Report: Bitcoin Is a Solution for a System Without Censorship Elon Musk Talks Bitcoin The founder of Tesla and Spacex, Elon Musk, is once again making headlines about crypto. He recently went on the Ark Invest podcast to discuss the future of autonomous driving technologies. Most of the half-hour interview focused on the strategy behind his electric car company but the topic of cryptocurrency eventually popped up in the last four minutes. Musk commented: “I think the Bitcoin structure is quite brilliant. There seems like there is some merit to Ethereum as well, and obviously others. But I’m not sure if it’s a good use of Tesla resources to get involved in cryptos … We’re really just trying to accelerate the advances of sustainable energy. One downside of Bitcoin is … computationally it’s quite energy intensive. There has to be some kind of constraint on the creation of crypto. It’s very energy intensive to create the incremental bitcoin at this point … It bypasses currency controls. Paper money is going away, and crypto is a far better way to transfer value than pieces of paper. That’s for sure.” Shanghai’s Fudan University Launches Research Center Shanghai’s Fudan University has become the latest academic institution to launch a blockchain R&D center. Founded in 1905, Fudan is one of the most prestigious and selective schools for higher learning in China. The Shanghai Blockchain Engineering Technology Research Center is tasked with carrying out basic research in the field, developing demo applications in collaboration with the broader industry, and training talent to serve Shanghai’s economic development. Last month the University of California, Berkeley announced the formation of its own blockchain-focused startup accelerator program, the Berkeley Blockchain Xcelerator. This program is meant to help aspiring entrepreneurs create high-value ventures in the blockchain space with industry guidance from Silicon Valley. Xdat Exchange Lists 18 Trading Pairs Xdat, a new Malta-based cryptocurrency trading exchange, has announced the listing of 18 trading pairs. These comprise ETH/BTC, BCH/BTC, EOS/BTC, ETC/BTC, XRP/BTC, DASH/BTC, LTC/BTC, BTC/ETH, BCH/ETH, EOS/ETH, ETC/ETH, XRP/ETH, DASH/ETH, LTC/ETH, BTC/TUSD, ETH/TUSD, BTC/EURO, and ETH/EURO. The company has further plans to add other pairs over time. The exchange is compliant with Maltese regulations for KYC and AML procedures and caters to both retail and institutional investors. Its fiat gateway allows users to deposit funds in 12 major currencies: USD, GBP, JPY, HKD, CHF, AUD, NOK, SEK, DKK, CZK, PLN, and HUF. This selection is meant to eliminate the need for involvement of a foreign bank for the supported options and allows users to work solely with Xdat’s bank. “Xdat is on a mission to address the key problems of existing exchanges … including lack of flow of new capital, lack of trust, no approach for mass adoption, and high fragmentation,” said CEO Prashanth Swaminathan. “Our aim is to bring crypto to all. To that end, we will be working closely with our community and using their support and feedback to make our interface more user-friendly and trading as streamlined as possible.” What do you think about today’s news tidbits? Share your thoughts in the comments section below. Images courtesy of Shutterstock. 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 The post In the Daily: Elon Musk Talks Bitcoin, Shanghai’s Fudan University, Xdat Exchange appeared first on Bitcoin News.
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Elon Musk Praises 'Brilliance' Of Bitcoin And Ethereum, But Clash With Tesla's Energy Stance

Main Street seems to be giving cryptocurrency a second look. Last week, Jamie Dimon and JPMorgan Chase & Co. (NYSE: JPM) announced an investment in JPM Coin, which will become the first digital token provided by a U.S. bank. This week, Tesla Inc (NASDAQ: TSLA) CEO Elon Musk lent cryptocurrency additional validation. “Paper money is going away, and crypto is a far better way to transfer value than pieces ...Full story available on

Elon Musk Calls Bitcoin "Brilliant" | Here's Why He's Optimistic

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