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Ifwallet Becomes First Public BCH Light Wallet to See Support from Cash Accounts Platform

Bitcoin’s first block was mined ten years ago last month. The anniversary was commemorated with the launch of the Cashaccount.info platform by developer Jonathan Silverblood, which lets users link BCH addresses with more readable names to make the payments process simpler. According to a report from Bitcoin.com, Ifwallet is not the first public wallet with the sending support of Cash Accounts. Anyone that has held a Bitcoin or other crypto address knows that this code is a long and complicated combination that involves both letters and numbers. Silverblood has been working to create an option that allows for a much simpler way to identify the addresses, leading the BCH software programmer to create Cashaccount.info. The platform only attaches the human-readable name for a one-time transaction with a public BCH address. The application was tested by Bitcoin.com on the day before the official launch, allowing them to test it out right before the 10th birthday of Bitcoin. An OP return transaction is used for the hashing of the name onto the blockchain. The name is then validated when the block is completed, and the transaction is registered. With the launch, Silverblood expressed that he was trying to set up the platform in such a way that wallet developers would have the ability to support Cash Accounts eventually. The website shows that the concept has already been discussed with Ledger Wallet, Stash, Bitcoin.com, Edge, BRD, and Electron Cash, among others. On February 14th, Silverblood said that Ifwallet, a Chinese BCH light client had decided to add support for this new name address system. In a statement on Thursday, Silverblood said, “Congratulations to Ifwallet for releasing the first public wallet with Cash Accounts sending support.” He added, “When you go to send you can now type in a Cash Accounts name and if they have compatible payment information in them, they will show up in a dropdown list.” Much of Ifwallet’s focus is on Bitcoin Cash, and they offer users token support via secure asset management. Investors like Coinex have already backed the mobile wallet, which has partnered with many projects already. Some of those projects include Johnwick.io, ViaBTC, BCH Club, and Wormhole. The latter is supported with the implementation of WHC and by adding the token factory to its infrastructure as well. They also recently launched an app store to allow consumers to participate in these programs with the use of the wallet. Yesterday, testing with Bitcoin.com confirmed that the speed with Ifwallet is comparable to the Yenom wallet from Japan. Even though the wallet requires a six-digit PIN for interface access, it also includes features like the Face ID/Touch ID provided through Apple. There is no need to instantly back up the mnemonic phrase for the wallet, but the user will see a warning message pop up to stop the transaction until this step is finished. Though the writer of Bitcoin.com article, Jamie Redman tested out the process for themselves, Redman pointed out that “Some people will definitely take issue with reusing addresses and may not find the Cash Accounts payment system compatible with efforts toward financial privacy.”
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Why the SEC’s ‘ICO Guide’ Paints a Dark Picture for Cryptocurrency in 2019

This week, the Securities and Exchange Commission tweeted out its guidelines for those launching and investing in ICOs, although many would say that over a year on from the peak of the cryptocurrency boom, the guidelines amount to too little, too late. That said, the document still throws up several points of contention, including a rather gloomy outlook for cryptocurrency exchanges – even decentralized ones – and at least one possible violation of the First Amendment on the part of the SEC. Cryptocurrency Promotion: A Knife’s Edge The SEC defines a security as: “A token or offering that promotes the The post Why the SEC’s ‘ICO Guide’ Paints a Dark Picture for Cryptocurrency in 2019 appeared first on CCN

Four Best Multi-Cryptocurrency Wallets in 2019 for Coin Storage

Over the years, investors have faced a common problem of locating the safest and convenient medium to store their cryptocurrencies after purchasing them from the exchange websites. We have, therefore, compiled some of the best cryptocurrency wallets that offer storage services for multiple coins. Coinpayments Coinpayments is one of the most popular and renowned cryptocurrency wallets on the internet. It is an online based cryptocurrency wallet with an App that can be installed on mobile devices. It has one huge advantage and that is its ability to support multiple coins without the need to signup for different platforms. Its popularity reached its peak when it became supportive to 1200 cryptocurrencies. Exodus I took a time to go through some reviews about this wallet and to my utmost surprise, Exodus wallet has garnered popularity among most of the cryptocurrency users. I have personally used the wallet and I was amazed by its design. Exodus wallet supports multiple cryptocurrencies and best of all, it is an offline wallet. This means private keys generated are not stored by the platform, and they have no access to your coins. It is completely free to use and has a fair transaction fee. It also offers a one-time click feature. This means there is no need to go through an authentication process before doing an exchange. Jaxx Just as the Exodus wallet, Jaxx is one of the best mobile based wallets on the internet. Jaxx is also compatible to windows and other OS devices. It is an offline wallet that does not hold your private keys and have no access to your stored cryptocurrency. In this case, users have absolute control over their funds. Edge Wallet Edge wallet was created in February 2018 and has been one of the best cryptocurrency wallets out there. It was earlier created for only Bitcoin but later rebranded itself to support multiple cryptocurrencies. One of its strength is its “easy to use” feature. It does not demand users to undergo any long process of verification before getting access to their funds. Users have to enter their passwords and pin code to login. In a situation where a user loses his/her device, the wallet can be restored on a new one. It offers two-factor authenticator and recovery code to retrieve an account. Edge wallet support cryptocurrencies including Bitcoin, Bitcoin Cash, Ripple (XRP), Litecoin, Augur (REP), Wings, and Matryx. The post Four Best Multi-Cryptocurrency Wallets in 2019 for Coin Storage appeared first on ZyCrypto.

Bitcoin Cash-Focused Ifwallet Implements Cash Accounts Name System 

Last month, on the 10th anniversary of the Bitcoin genesis block, Bitcoin Cash (BCH) developer Jonathan Silverblood launched his Cashaccount.info platform. The Cash Accounts platform allows users to tether human-readable names to BCH addresses in order to make payments easier. Now the Chinese BCH light client Ifwallet has become the first public wallet with Cash Accounts sending support. Also Read: Bitcoin’s Social Contract Must Be Resilient to the Whims of Future Generations Ifwallet and Cash Accounts Bitcoin addresses are long strings of numbers and letters, a format that to some users can be nerve-racking and cumbersome. Over the last few months, BCH software programmer Jonathan Silverblood has been working on a project that helps bypass some of the friction associated with BCH addresses. He’s created Cashaccount.info, a platform that allows users to register a one-time human-readable name that is tied to a BCH public address. News.Bitcoin.com tested the application on January 2, the day before the official launch on Bitcoin’s 10th birthday. The platform hashes a name into the BCH blockchain by using an OP return transaction and after the transaction is registered into a block the name will be validated. Ifwallet becomes the first public BCH wallet to integrate the Cash Accounts system. When Silverblood first launched the project he also mentioned that he had been reaching out to wallet developers so they could possibly support Cash Accounts in the future. The Cashaccount.info website shows that the programmer has discussed the idea with Electron Cash, Edge, BRD, Bitcoin.com, Stash, Ledger Wallet and more. On Feb. 14 the Cash Accounts founder explained that the Chinese cryptocurrency light client Ifwallet has added support for the name address system within the sending interface. “Congratulations to Ifwallet for releasing the first public wallet with Cash Accounts sending support,” Silverblood stated on Thursday. The developer continued: When you go to send you can now type in a Cash Accounts name and if they have compatible payment information in them they will show up in a dropdown list. The Cashaccount.info OP return transaction process. Experimenting With Ifwallet and Cash Accounts Ifwallet is a cryptocurrency wallet with a focus on bitcoin cash and provides users with a secure asset management tool for token support. The mobile wallet is backed by investors such as Coinex and is partnered with projects like Johnwick.io, Viabtc, BCH Club, and Wormhole. Ifwallet also supports the Wormhole project by implementing WHC integration and incorporating the token factory. Recently the Ifwallet project launched the decentralized applications (dapp) store module and deployed a variety of dapps that can be used with the wallet. On Feb. 15, news.Bitcoin.com tested the Ifwallet application and the client’s speed was similar to using the Japanese Yenom wallet. The wallet makes you create a six-digit PIN to access the interface but biometric settings like Apple’s Face ID/Touch ID can also be set up. The wallet doesn’t compel you to back up the wallet’s mnemonic phrase immediately and there is a warning message displayed until this part of the process is complete. I sent 0.00041575 BCH – or a nickel – to the Ifwallet, without realizing there was an identical amount of BSV attached to the BCH. The Ifwallet split the transaction into two and my wallet ended up with 0.00041575 BSV as well. Sending a nickel’s worth of BCH to “Jamiecrypto#116” using the Ifwallet on iOS.  After the transaction confirmed, I simply used Silverblood’s directions and sent money to the Cashaccount.info name “Jamiecrypto#116.” The transaction immediately showed a sent transaction to the Cash Accounts name and the process was much simpler than copy and pasting an alphanumeric string to use as an address. Overall the application worked well and if more wallets integrate this feature it would likely make sending and receiving easier for newcomers. However, some people will definitely take issue with reusing addresses and may not find the Cash Accounts payment system compatible with efforts toward financial privacy. What do you think about Ifwallet implementing Cash Accounts support? Do you think concepts like Cash Accounts is a good idea? Let us know what you think about this subject in the comments section below. Disclaimer: Readers should do their own due diligence before taking any actions related to the mentioned companies or any of its affiliates or services. Bitcoin.com and the author are 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 this article. Neither Bitcoin.com nor the author is responsible for any losses, mistakes, skipped steps or security measures not taken, as the ultimate decision-making process to do any of these things is solely the reader’s responsibility. This editorial is for informational purposes only. Image credits: Shutterstock, Ifwallet, Bitcoin.com’s Block Explorer, and Cashaccount.info. Need to calculate your bitcoin holdings? Check our tools section. The post Bitcoin Cash-Focused Ifwallet Implements Cash Accounts Name System  appeared first on Bitcoin News.
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Industry Leaders Meet at Datacloud Global Congress in Monaco

Datacloud Global Congress, Monaco June 4-6 2019, the industry’s premier networking and deal making leadership forum will focus on enterprise digital transformation, the advent of Edge and 5G, infrastructure and Investment as major themes for this year’s conference. In addition Joanna Lumley will be hosting the annual Datacloud Awards which will also include the new Finvest Awards.  Early speakers announced include:  Dean Bubley, Founder and Director – Disruptive Analysis Chris Crosby, CEO – Compass Datacenters Tesh Durvasula, President Europe – CyrusOne  Iain Gillott, President – IGR  Mark Gregory, Managing Director – Penta Infra  Peter Hannaford, Founder and CEO – Datacenter People Alexander Hauser, Managing Partner – TTSP HWP Tom Keane, Corporate VP – Azure Global – Microsoft  Jeanette Nilsson, Project Leader – RISE SISC North Christopher Sharp, CTO – Digital Realty Irina Spekman, VP Strategy & International Business – Sustainable Quarry William Sullivan, Director Partner Relations – KingSoft Cloud Tom Traugott, VP Strategic Accounts – EdgeCore Internet Real Estate BroadGroup, the congress producers has also announced in conjunction with Data Economy, the leading digital news service, the inaugural of the Finvest summit – the first global meeting of investors, private equity, hedge funds, pension funds, property specialists and bankers in datacentre, cloud and Edge.  Early speakers announced include:  Stephen Brook, Fund Director – Alpha Real Trust Ralph Choufani, Principal – ABRY Partners Matthew Dent, Chief Commercial Officer – Global Switch Hossein Fateh, Chairman & CEO – CloudHQ Kemal Hawa, Partner & Shareholder – Greenberg Traurig, LLP Miles Loo, EVP – Newmark Knight Frank Jonathan Schildkraut, EVP, Chief Strategy Officer – CyrusOne Michael Tobin, OBE – Industry Entrepreneur “Now in its 16th year, and our fifth in Monaco, the global congress represents the largest global event for leaders of datacentre, cloud service providers, and Edge players and their enterprise customers,” said Gregory Gerot, managing director and vice president of BroadGroup. “Monaco is the place to connect this June for anyone engaged in this expanding marketplace.” “Finvest is the first global networking summit for the world’s leading investors, professional advisors and analysts in the sector,” commented Joao Lima, editor in chief, Data Economy. “It will provide a unique annual opportunity to define the investment outlook for the year ahead and make senior level contacts that lead to business engagement.” The post Industry Leaders Meet at Datacloud Global Congress in Monaco appeared first on The Fintech Times.
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77 updates in Microsoft patch Tuesday

Microsoft released 77 updates, 20 of which were classified as critical, in this months patch Tuesday announcement. The updates included fixes for Microsoft Windows, Office, IE, Edge resolving a total of 74 unique CVEs this month including one actively exploited zero day flaw in Internet Explorer, according to its February Patch Tuesday release. The zero day  allows an attacker to read the contents of files on disk and can as the attacker can persuade a user to open a malicious website to exploit the vulnerability. The upgrade also addressed a privilege escalation proof of concept for Microsoft Exchange Server would effectively allow an attacker to elevate their privilege level to Domain Admin or grant the attacker access to other users inboxes. In addition, a the updates addressed a proof of concept dubbed “PrivExchange” that  would allow an attacker to perform a man-in-the-middle attack that would allow them to elevate privileges on the Exchange Server to a Domain Admin.Microsoft also released updates for Exchange Server resolving a vulnerability in the Exchange Web Services contract between EWS clients and Exchange to not allow authenticated notifications. Instead it would make these notifications anonymous so the attacker could not gain access to another user’s mailbox. Chris Goettl, director of product management, security, for Ivanti, said Microsoft OS, browser, and Office updates should be a priority “especially the OS and IE with actively exploited and publicly disclosed vulnerabilities being resolved.”  He urged users to quickly patch escalation vulnerabilities with working proof-of-concept code available to the public and and that an attacker could gain Domain Admin rights to a domain controller or access to a user’s mailbox. The post 77 updates in Microsoft patch Tuesday appeared first on SC Media.
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Wall Street Crypto Advocate Says Bitcoin ETF Is A Matter Of When: What’s Behind the Confidence?

All eyes may be on the QuadrigaCX imbroglio, but talk regarding the implications that a Bitcoin exchange-traded fund (ETF) could propose have continued. This isn’t without reason. Since the Winklevoss Twins effectively started the race for a publicly-traded crypto fund, deemed a “paradigm-shifting” product by post, the subject matter has plagued the front pages of crypto’s media outlets. Anecdotally, it has been said that the launch of such an investment opportunity could be the rocket booster that could take this industry to the proverbial ‘moon’. While discussions about crypto-backed ETF are often imbued with an overarching sense of uncertainty and disbelief, a leading pro-crypto Wall Street investor claims that such a vehicle is “virtually certain” to eventually come into existence. Related Reading: No One Needs A Bitcoin ETF & Bakkt, BTC Already Is Money: Crypto Investor Launch Of A Bitcoin ETF Is “Virtually Certain” This optimistic comment came by the way of Ric Edelman’s appearance on CNBC’s “ETF Edge” segment. Edelman, who runs a preeminent financial services company that shares his surname, told the financial outlet that there an inevitability to a Bitcoin ETF, in spite of the current market concerns and conditions. Speaking with Bob Pisani, the Philadelphia native explained that a Bitcoin-backed product making it through the hoops the U.S. Securities and Exchange Commission (SEC) throws at it is a question of “when,” rather than “if.” Edelman did laud the SEC’s efforts to keep this nascent sector clean though, likely referencing the fears of manipulation, a lack of liquidity, insufficient custodial offerings, and minimal market surveillance mediums. Waiting on a #bitcoin ETF? @ricedelman says it's an inevitability. https://t.co/WGxnMOvoEy — CNBC's ETF Edge (@ETFEdgeCNBC) February 11, 2019 Yet, the Edelman Financial Services chairman commented that he’s confident that eventually, innovators in this space will push proper solutions to combat the SEC’s harrowing concerns. He even noted that moves to leave the financial regulator’s worries in the dust have already begun to come to fruition. In response to a question regarding custody, Edelman name-dropped Fidelity, explaining that the Wall Street powerhouse is nearing the launch of its digital asset-centric platform. Case in point, just a week ago, the Boston-based institution revealed that it will launch its crypto custody product in a few months, potentially by some time in March. The American investor also lauded Kingdom Trust, along with a “number of other very serious players” in the custody field. He even noted that in “very short order,” VanEck and its partners should be able to satisfy the SEC’s qualms, effectively explaining that the SEC’s custody box has been ticked. He added that from a fundamental point of view, institutional demand for solving crypto’s issue only accentuates that there is capital, human resources, and energy backing a Bitcoin ETF. Thus, the investor concluded that: “Eventually we will see a bitcoin ETF and it’s at that stage that I will be much more comfortable recommending that ordinary investors participate.” Edelman’s pro-crypto ETF comments come as another hopeful has joined the fray. According to a document filed to the SEC on Monday, Eric Ervin’s Reality Shares, a crypto-centric investment services provider, a semi-Bitcoin ETF is seeking to launch on NYSE Arc. 15% of the fund’s assets will be allocated towards CBOE and/or CME Bitcoin futures, while the remaining will be left for sovereign debt instruments denominated in fiat currencies like the British Pound, Japanese Yen, Swiss Francs, along with money market mutual funds. While the product will only have a maximum 15% allocation into Bitcoin futures, some claim that this unique feature should allow the product to get a noticeable foothold in the SEC’s chambers. Pent-Up Demand For Crypto Investment Still Present While the incessant stream of applications may create a cause for concern that this yet-to-launch market is already oversaturated, this could be far from the case. Per previous reports from NewsBTC, a survey conducted by Bitwise Asset Management, a San Francisco-headquartered crypto investment services provider, revealed that 35% of 150 financial advisors based in the U.S. would advise their clients to purchase cryptocurrencies if an ETF saw a launch. Tom Lydon, the head editor at ETFTrends.com, echoed this sentiment in an interview with CNBC. Lydon noted that 74% of the advisors his outlet has interviewed have talked to their clients regarding a Bitcoin investment, yet few have gone through with a bonafide allocation. But with this launch of an ETF, an allocation would become that much easier to procure. It is more than clear that there is demand for such a form of investment, but will the SEC bite? Featured Image from Shutterstock Wall Street Crypto Advocate Says Bitcoin ETF Is A Matter Of When: What’s Behind the Confidence? was last modified: February 12th, 2019 by Nick ChongThe post Wall Street Crypto Advocate Says Bitcoin ETF Is A Matter Of When: What’s Behind the Confidence? appeared first on NewsBTC.

A Bitcoin ETF is ‘Virtually Certain’, Only Matter of time for SEC Approval: Wall Street Advisor

The prospect of a Bitcoin ETF is ‘virtually certain’ according to finance manager Ric Edelman, who is confident that either VanEck or Bitwise will satisfy the demands of the SEC. The founder of Edelman Financial Engines told CNBC’s Bob Pisani on Monday’s ETF Edge: “It’s virtually certain. The only question is when. And I don’t know how soon it will the happen; the SEC has several legitimate thoughtful concerns that the industry has to overcome, and I’m confident that they will, and eventually we will see a bitcoin ETF. And it’s at that stage that I will be much more The post A Bitcoin ETF is ‘Virtually Certain’, Only Matter of time for SEC Approval: Wall Street Advisor appeared first on CCN

Foundation for Interwallet Operability Adds Binance-Bought Trust Wallet to the FIO Protocol

The Foundation for Interwallet Operability and the FIO Protocol, a new protocol that seeks to remove the complexity, risk, and inconvenience of moving coins and tokens recently announced a new member. The Trust Wallet has joined the foundation today. This is the official crypto wallet of the Binance exchange. The Trust Wallet is a popular mobile wallet and DApp browser. It joins KeepKey, ShapeShift.io, BRD.com, Mycelium, Coinomi, and Edge. It reinforces the growing focus in the blockchain world to solve issues of usability in order to aid the mass adoption of crypto. How This is Beneficial By bringing together leading wallets in the crypto sector, FIO Protocol hopes to transform the wallet usability. It also hopes to make it easier to use exchanges and make payments. This will be made possible via an open-source, decentralized, and self-sovereign blockchain protocol that will offer an enhanced connectivity layer. It will also offer extra features for usability, which will make crypto payment on blockchains easy. The aim is to achieve the same ease of use as mainstream payment processors such as Venmo and PayPal. As a result, this will lead to mass adoption of crypto. The FIO Protocol This protocol will not just create human-readable wallet addresses, which work across all tokens and coins. It will also allow improved workflow. This will include the ability to send payment requests across wallets. The request can be denied or confirmed, which will eliminate various errors that occur when sending funds. This protocol is a blockchain, which sits alongside the other chains. It will enable a wide array of features. The features will include ease of refunds, subscription payment models, secure routing, and much more. What the Experts Had to Say David Gold, the CEO of Dapix and the man behind the FIO protocol said that this would be the year of making interoperability a reality. As a result, it will make it possible for crypto and the blockchain to fulfill their vision to the masses. In short, it is a huge step in making the use of crypto for ordinary transactions possible. He added that the FIO protocol was happy that Trust Wallet had joined them. Gold was positive that the entire foundation is going to benefit from the talent and experience that the wallet brings to the table. The Dapix CEO said that the foundation had a firm belief in getting rid of risk, complexity, and inconvenience from the crypto world when it comes to receiving or sending funds. They have a belief that this is what will help crypto reach its full potential. The Trust Wallet CEO also had something positive to say. He said that this was a great opportunity for the Trust Wallet to deal with the issue of interoperability. He believes that this is one of the main issues, which are preventing mass adoption of crypto. Viktor Radchenko concluded by saying that they were happy to work with FIO, which had a similar vision of mass adoption as them.
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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 Muskhttps://t.co/U5qOnM7nBo — 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 Bitcoin.com. 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 Benzinga.com

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

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