This is a submitted sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below. Ukraine based Minexcoin has developed a four-step strategy to becoming “real money” by studying the origin of money. 4 main functions Money has four essential characteristics, and Minexcoin The post Minexcoin Studies Real Money in Order to Become One appeared first on CCN
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University College London, better known as UCL has officially terminated its ties with the IOTA Foundation as a response to the legal threats made by IOTA foundation against cybersecurity researchers. Patrick McCorry, a security researcher at UCL’s Initiative for CryptoCurrencies and Contracts, revealed the official statement from UCL which emphasized researchers should not fall victim The post Prestigious London College Terminates Ties With IOTA Foundation Due to Legal Threats appeared first on CCN
ICO scams are one of the biggest challenges to have rocked the cryptocurrency industry, greatly undermining people’s confidence in the nascent industry. While investors have become increasingly aware of these scams, fraudsters are still widespread and millions of dollars are still lost every year. According to the Wall Street Journal, over 18% of ICOs are pure scams, with many more also likely to fail. The research attributes the continued rise of ICO scams to investors’ appetite for “guaranteed returns” which makes them easy prey for fraudsters. Over $1 Billion Invested In Pure Scams The WSJ conducted an extensive analysis that involved 1,450 ICOs, of which 271 were deemed pure scams. Among the most common red flags were plagiarized whitepapers, most of which copied other, more established projects word for word. 111 projects were found guilty of this, with some having made minor adjustments while the programming language remained quite similar. Another common red flag was the non-disclosure of team members, including their credentials and past experience. Others sought to reassure their investors by listing supposed team members on their websites, but upon further investigation, it was found those people didn’t exist. In some cases, individuals reported to having had their photos and information used without their consent or knowledge. The promise of guaranteed returns is another red flag that is present in many ICOs, one which the Securities and Exchange Commission has been consistently warning investors about. However, with many investors viewing the crypto industry as a get-rich-quick opportunity, the regulator’s pleas have fallen on deaf ears. The allure of ‘risk-free’ investment has seen many investors, especially the new ones who’ve jumped on the crypto bandwagon in recent years, invest their money in the hope that their project will become the next Bitcoin or Ethereum. Over $1 billion dollars has been collectively invested in the 271 ICOs that the WSJ labeled as scams. The report identified hundreds more whose chances of success were quite slim, based on their whitepapers, online activity, and teams. A Disservice To The Industry While some choose to ignore the plight of investors who continue to invest in projects that bear many red flags and end up as victims of ICO scams, the reality is that these scams have a much larger ripple effect on the industry. With millions being lost every so often to these scams, the crypto industry continues to get bad publicity which hinders its development and its adoption by mainstream users. The SEC has continued to lead the government’s efforts to protect investors, with the regulator going after and stopping some of the scams including Arise Bank and PlexCorps. Recently, the SEC developed a pretend ICO scam website to show investors what to look out for in order to avoid being scammed. The fake project, HoweyCoins, promises to transform the travel industry through the blockchain. Once an investor decides to buy the tokens, he is redirected to a page that lets him know he or she could have been easy prey for scammers. This new and creative effort by the SEC might have a more surreal effect on investors as they realize just how easy it is to get scammed.
You may not be familiar with Jim Bursch, but you certainly know about Dash, one of the top ten cryptocurrencies (and fighting tooth and nail to remain one). With a strong community supporting it and solid plans to improve its usability and security, Dash has a bug bounty program, and Bursch is the man behind it. Q. Can you tell us a little about your background? A. In the ’90s, I was a journalist, having published a small community magazine and worked at newspapers as a copy editor and online news editor. In 2000, I jumped to a dot-com as a content producer and went on to become a systems analyst picking up the pieces after the dot-com bust. At that time, I conceived the idea that has now become MemoTrader.com (formerly Dash Messaging). In 2013, I learned about Bitcoin and decided to use it in MemoTrader as the payment system. I did this primarily because of the privacy concerns and costs of working with credit card payment systems. In early 2017, as Bitcoin transaction costs and confirmation times skyrocketed, I decided that it no longer satisfied my needs for a payment system, so I started looking at other cryptocurrencies. I settled on Dash because its mission is to be exactly what I need – the digital equivalent of cash. Q. You saw the value of monetizing people’s time and attention before hearing about blockchain tech, so how are you working with cryptocurrency to do that now? How has that evolved? A. Enabling people to monetize their time and attention necessarily requires a lot of private information. Current systems that exploit people’s time and attention have no respect for privacy and are utterly abusive in their business model (ad-supported media). This is also true for current (credit card) payment systems. By using cryptocurrency, we can separate transaction data from private data. Q. How did you end up working on Dash? A. After settling on Dash for MemoTrader, I found myself getting involved in the community that supports the development of Dash. One feature of Dash is its governing and self-funding mechanism, which is unique and innovative. Unlike Bitcoin, which gives 100% of the mining reward (new Bitcoins) to miners, Dash splits the mining reward three ways: 45% to miners, 45% to masternodes, 10% to a budget system. That 10% is allocated every month to projects that are devoted to the development of Dash and the Dash ecosystem. At today’s price, that amounts to about $2.5 million per month. In the summer of 2017, I came up with the idea of establishing a bug bounty program for Dash. Bounty programs are an effective way of engaging the hacker community in a constructive manner that helps to strengthen the safety and security of software. I wrote a proposal to establish a bug bounty program using Bugcrowd, which is a company that has developed a platform for managing bounty programs and relationships with thousands of security researchers (hackers). My proposal was approved, and I received funding to set up the program for one year. In April of this year, I received approval and funding to continue the program for another year, to August of 2019. Q. Why is Dash so resistant to hacking? Can you tell us about the Bugcrowd Bug Bounty program? What is it? Dash is resistant to hacking because it is founded on a sound codebase (originally a fork of the Bitcoin codebase) and it has attracted the interest and effort of very skilled and talented developers. This probably has a lot to do with the character and values of Dash’s creator, Evan Duffield. Fundamentally, from the very beginning, the mission of Dash has not changed. It seeks to be the digital equivalent of cash, which means that transactions are instant, private, very low-cost, and easy. Of those four qualities, Dash has achieved three and is working on the fourth (ease of use). At its core, the Dash community supports this effort and is less interested in the speculative value of the cryptocurrency. If anything, cryptocurrency speculation is a distraction from the mission. Q. How are people rewarded for their work? How much does it pay? A. The Dash Bug Bounty Program pays up to $10,000 for a critical vulnerability. If we receive the report through the Bugcrowd platform, the bounty is paid in U.S. dollars through the platform. We may also receive reports outside of the platform via email or one of the Dash community channels. In those cases, we will pay bounties in Dash. Vulnerabilities have to be reported responsibly (discretely) and evaluated before a bounty is paid. Q. Is this the only program out there? Do you have plans to work with any other cryptocurrency? A. The Dash Bug Bounty Program is not the only bounty program in the cryptocurrency space. It is, however, the only bug bounty program that is funded in the manner that it is funded. Essentially, Dash was created for the purpose of the bounty program. It does not cost anyone anything, which means that funds are not being diverted from another purpose for this purpose. Other bounty programs are usually funded from development funds, which means that money spent on bounties is money that is not spent on development. Thanks to Dash’s unique budgeting system, this is not the case for Dash. Q. What are the next steps for you? A. Currently, most of my time is devoted to getting MemoTrader out into the world. The platform is fully functioning, but it needs users and it can’t attract users until it has a critical mass of users. This is a very challenging chicken-and-egg problem that I am constantly working on. Q. Is there anything else you would like to add? A. Making Dash easy to use is a huge development task that is currently on track and will be rolling out in the coming year. The technology that is involved is breathtaking in its breadth and ambition. However, unlike other cryptocurrency initiatives, this development is not accompanied by vacuous hype. This is what makes DASH interesting and impervious to the daily swings of its market capitalization.
Although the market is positive overall, at the time of writing, the sentiment is quite negative. Maybe due to the high expectations over Consensus, which did not create that much demand over bitcoin, at least not as much as it happened during previous years. I understand it’s your money that is at stake and the The post Opinion: The Bubble is Not Bitcoin appeared first on CCN
What keeps you awake at night? For many millennials, it’s the stress of thinking about things that they may not understand or have control over. Question-and-answer platforms made it easier for those searching for answers to an unlimited number of questions to find the answer(s) they were looking for. But today, search engines have become extremely voluminous, comprehensive, and most of all, time-consuming. It takes forever to find what you’re looking for. Google processes over 3.5 billion searches each day, demonstrating a strong, global affinity for navigating the internet. The problem is learning how to intelligently and efficiently navigate the web in order to find whatever it is you may be looking for. So, what can be done to help users streamline their questions and search queries with a useful tool that helps conserve their time? It starts by connecting users with individuals who are willing, ready, and able to connect them with an answer to their question or problem. One company, Anything App, is one such search engine that provides the user with a list of individuals who are immediately available to chat, call, or even have video conversations with them based on search queries or questions the user may have. Whether you need help fixing something, identifying particular medical symptoms, troubleshooting a computer issue, or learning about tourist attractions in a particular city, Anything provides a one-stop shop for users’ needs. Obviously, blockchain tech comes into play, allowing for immediate and seamless payments between buyers and sellers of services. Search engines were initially designed to connect users with service providers. With the advancement of technology, we as individuals have become disconnected from one another, resorting to technology to solve all our issues. The problem is that technology is not smarter than us. Yet. “Finding entertainment is easy, but searching for a solution to a particular problem is often a disaster on the web,” says Lodewijk Veldhuijzen, CEO and Co-Founder of Anything App. We all need to capitalize on the general and specialized knowledge which we’ve spent thousands of dollars and gone into debt in order to acquire. You Don’t Know What You Don’t Know At the end of the day, you don’t know what you don’t know. Therefore, it’s important to get to the very bottom of what you are looking for, regardless of the industry you’re in—you have to understand what you are searching for. For example, when practicing law and researching cases for a client, it’s important to start with general queries to identify specific keywords, target words, and search terms, which will eventually narrow down what I am looking for, bringing me to a narrowly tailored selection of cases that may or may not be applicable to my client’s situation. Bridging The Gap The digital age has created a sense of immediacy and convenience in our daily routines. Thus, having multiple apps that eventually get us to the solutions or answers we desire makes no sense. It’s time we streamlined our desire and quest for knowledge with the technology we have available to us, and once again, harmonize the scale of human knowledge with technological tools to facilitate our knowledge and skills. Says Veldhuijzen, “Having access to instant two-way communication with experts in any field will shatter conventional methods of acquiring knowledge.”
Suffocating under your government’s strict business and monetary policies? Head to the seas. To be more precise, create an island of your own that has its own government and uses cryptocurrency as its main tender. The oceans are the solution to a heavily polluted planet and policies that harm business growth. The startups BlueFrontiers and The post Crypto Utopia: Man-Made Floating Pacific Islands Will Accept Cryptocurrency appeared first on CCN
Key Points Bitcoin price stayed above the $8,000 support level and recovered against the US Dollar. There is a monster bearish trend line forming with resistance at $8,300 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair has to move above the trend line and settle above $8,300-8,400 for more gains in the near term. Bitcoin price is currently testing a major resistance near $8,400 against the US Dollar. BTC/USD could accelerate higher once there is a proper close above $8,400. Bitcoin Price Upside Barrier This past week, there were further downsides from well above $8,500 in bitcoin price against the US Dollar. The price moved down and broke the $8,200 support level. There was even a spike below the $8,000 pivot level before a low was formed at $7,940. Later, the price started an upside correction and succeeded in moving above the $8,000 pivot level. There was also break above the 23.6% Fib retracement level of the last drop from the $8,884 high to $7,940 low. However, there is a crucial barrier on the upside near $8,300-8,400, which is preventing further gains. More importantly, there is a monster bearish trend line forming with resistance at $8,300 on the 4-hours chart of the BTC/USD pair. Furthermore, the 50% Fib retracement level of the last drop from the $8,884 high to $7,940 low is also close to the $8,400 level. Therefore, a break and close above the $8,400 resistance is needed for more gains in BTC. The next resistance above $8,400 sits near the $8,800 pivot level. Looking at the chart, the price seems to be approaching a key break above $8,400. If buyers fail to push the price above the mentioned resistance, there could be a downside reaction back towards $8,000. Looking at the technical indicators: 4-hours MACD – The MACD for BTC/USD is currently stable in the bullish zone. 4-hours RSI (Relative Strength Index) – The RSI is currently just below the 50 level. Major Support Level – $8,000 Major Resistance Level – $8,400 The post Bitcoin Price Weekly Analysis: BTC/USD Testing Crucial Resistance appeared first on NewsBTC.