Home News Satoshi Makes a New Friend, Buterin Gets Negative Over Centralized Blockchains

Satoshi Makes a New Friend, Buterin Gets Negative Over Centralized Blockchains

32 min read

Coming each Sunday, the Hodler’s Digest will assist you to trace each single essential information story that occurred this week. The greatest (and worst) quotes, adoption and regulation highlights, main cash, predictions, and far more — a week on Cointelegraph in a single hyperlink.

Top Stories This Week

Nasdaq Notes Bitcoin Futures Could Launch in Quarter 1 2019, Bloomberg Reports

Major U.S. inventory trade Nasdaq nonetheless intends to launch Bitcoin futures, and will accomplish that within the first quarter of 2019, in line with “two people familiar with the matter.” Speaking to Bloomberg this week, the 2 unnamed sources observe that Nasdaq has been “working to fulfill the issues of the U.S.’s essential swaps regulator, the Commodity Futures Trading Commission [CFTC], earlier than launching the contracts.” Later within the week, it was revealed that Nasdaq had partnered with U.S. funding agency VanEck to collectively launch a set of “transparent, regulated and surveilled” digital property merchandise, a transfer that helps the unnamed sources’ claims.

Ohio Poised to Become First US State to Accept Bitcoin for Taxes

The U.S. state of Ohio is set to grow to be the primary state to just accept Bitcoin (BTC) as a tax cost. According to the Wall Street Journal, the choice will at first solely apply to enterprise, however there are plans in place to increase the crypto choice to particular person taxpayers sooner or later. Beginning this week, the WSJ notes that each one Ohio-based companies will be capable of register to pay their taxes in BTC, which is able to then be processed via crypto funds service BitPay.

Vitalik Buterin: Blockchain Tech Isn’t as Applicable in Every Industry as People Think

Ethereum (ETH) co-founder Vitalik Buterin said this week in an interview that the misapplication of blockchain expertise in some industries results in “wasted time.” Buterin famous that though there are a excessive variety of corporations that attempt to set up greater requirements and transparency through the use of blockchain tech, he doesn’t imagine that blockchain could be utilized usefully in each business. Buterin particularly criticized the proprietary nature of company blockchain tasks from tech giants like IBM, noting that crypto and cross-border funds are appropriate industries for the expertise’s use.

US Securities Regulator Charges Floyd Mayweather Jr., DJ Khaled for Illegal ICO Promotion

The U.S. Securities and Exchange Commission (SEC) has charged skilled boxer Floyd Mayweather Jr. and music producer Khaled Khaled (generally known as DJ Khaled) for unlawfully promoting Initial Coin Offerings (ICOs). The SEC discovered that Mayweather didn’t disclose receiving funds for selling three ICOs (together with $100,000 from Centra Tech), whereas DJ Khaled did not disclose a $50,000 cost from the identical crypto startup. In May, Centra’s three co-founders had been formally indicted for working a fraudulent $32 million ICO in 2017.

Bitcoin Creator Satoshi Nakamoto’s P2P Account Goes Live, Posts One-Word Update

Anonymous Bitcoin (BTC) creator Satoshi Nakamoto’s P2P Foundation account became lively this week, posting a one-word standing and including a Brazilian consumer to his good friend checklist. The profile, which is related to an electronic mail that had beforehand been hacked, has been offline since Nakamoto withdrew from on-line exercise in late 2010. The one phrase submit — “nour” — has no apparent that means: a Google search finds an Urban Dictionary submit for “the most loving, affectionate and caring person you’ll ever meet,” whereas the phrase is also a transliteration of the Arabic and Ancient Hebrew for “light” or “life.”

Most Memorable Quotations

Most Memorable Quotations

Vitalik Buterin

“I don’t understand this deeply, but the detail that jumped out at me is they’re saying ‘Hey, we own all the IP and this is basically our platform and you’re getting on it.’ And like, that’s… totally not the point….” — Ethereum (ETH) co-founder Vitalik Buterin, talking out the company blockchain tasks

Tom Lee

“If you’ve got time, it will arise. It will not happen within three months, or one year, but in two to three years, and this is the golden time to be in crypto,” — Tom Lee, main Wall Street crypto bull and co-founder of Fundstrat Global Advisors

Josh Mandel

“I do see [Bitcoin] as a legitimate form of currency,” — Ohio state Treasurer Josh Mandel, talking about including a BTC tax cost choice

Laws and Taxes

Laws and Taxes

Liechtenstein Cryptoassets Exchange Receives “Business License” From Regulator

The Liechtenstein Ministry of Economic Affairs has reportedly given a “business license” to skilled traders-focused Liechtenstein Cryptoassets Exchange (LCX). According to the enterprise, the license is a “milestone” in creating a “fully regulated blockchain ecosystem,” focusing on institutional {and professional} buyers. The agency now plans to use for a Financial Market Authority (FMA) license, in addition to different regulators’ approvals to commerce safety tokens amongst different choices.

US SEC Chairman Jay Clayton Reiterates Strict Stance on ICO, ETFs

Jay Clayton, the chairman of the U.S. Securities and Exchange Commission (SEC), implied this week how the regulator is sustaining its strict stance of Initial Coin Offering (ICO) compliance. In an interview, Clayton famous that there was nonetheless a have to conduct public token gross sales to U.S. prospects whereas following SEC tips. Clayton refused to touch upon the SEC’s  pending decision on whether or not to permit Bitcoin exchange-traded funds (ETFs) to launch, noting solely “we’ve been clear on some of the issues that are of concern to us.”

Malaysia Plans to Create Crypto Regulation by Quarter 1 2019, Says Finance Minister

According to Malaysia’s finance minister, the nation will develop laws for cryptocurrency and Initial Coin Offerings (ICO) in Q1 2019. Finance Minister Lim Guan Eng acknowledged that the nation’s regulator, the Securities Commission (SC), had given him the timeframe for the laws, which is able to type “part of the SC’s efforts to facilitate alternative fundraising avenues and new investment asset classes.” Also this week, the minister noted that any entity wishing to challenge cryptocurrency should defer to the nation’s central financial institution, Bank Negara Malaysia (BNM).



Coinbase Launches Over-the-Counter Trading for Institutional Investors

Major U.S. crypto exchange and wallet supplier Coinbase revealed this week that they’ve launched over-the-counter (OTC) trading for institutional prospects. In distinction to buying and selling via a crypto trade itself, OTC crypto buying and selling will enable institutional buyers to conduct direct trades between one another. Head of Sales at Coinbase Christine Sandler famous that the choice to open OTC trades got here at a time of elevated demand for the service from institutional gamers, who think about leveraging each trade and OTC enterprise as a “huge benefit” to their prospects.

CLSNet Blockchain Payment Netting Service Launches With Big Banking Clients

U.S. foreign exchange trade (FX) settlement large CLS’ blockchain cost netting service went stay this week, with Goldman Sachs and Morgan Stanley as a number of the preliminary customers of the service, which was constructed along with IBM. The blockchain netting service, which is described because the “first global FX market enterprise application running on blockchain in production,” additionally has “committed” participation from six worldwide entities together with the Hong Kong department of the state-run Bank of China.

Abu Dhabi-Based Bank Completes “First” Sukuk Transaction on Blockchain

Al Hilal Bank, based mostly in Abu Dhabi, the United Arab Emirates (UAE), has announced it has accomplished “the world’s first sukuk transaction” with the usage of blockchain expertise. Sukuk is a authorized instrument, additionally known as “sharia compliant” bonds, which permits buyers to generate returns with out infringing on Islamic legislation. The sukuk transaction was price a reported $1 million, bought by Al Hilal to a non-public investor with the participation of Swiss-based fintech firm Jibrel Network, which has places of work in Dubai.

Bahrain Finance Training Institute Launches Blockchain Academy

The Bahrain Institute of Banking and Finance (BIBF) announced the launch this week of what it claims to be the nation’s first “Blockchain Academy.” The BIBF established in Bahrain in 1981 by approval of the Specific Council for Vocational Training, is an unregistered non-profit semi-government entity that gives coaching within the monetary sector. The Blockchain Academy, in line with the announcement, is designed to arrange individuals to earn the worldwide qualification of Certified Blockchain Professional C|BP and was developed by each the BIBF and Dubai-based coaching agency MyLearning Key.

Amazon Debuts Two New Blockchain-Related Products

E-commerce large Amazon has announced the launch of two new blockchain-related services this week: Amazon Quantum Ledger Database (QLDB) and Amazon Managed Blockchain. QLDB is a ledger database, overseen by a central trusted authority, that can present a clear, immutable, and cryptographically verifiable log of transactions, whereas the Amazon Managed Blockchain can function with QLDB, permitting customers to regulate and handle a scalable blockchain community.

Mergers, Acquisitions, and Partnerships

Mergers, Acquisitions, and Partnerships

“Code of Conduct” Association Launched for Crypto by Ten Blockchain, Fintech Firms

Ten monetary and expertise companies have established an Association for Digital Asset Markets (ADAM) with a purpose to create a “code of conduct” for the cryptocurrency sector. Among the founding members of the group embody Mike Novogratz’s crypto service provider financial institution Galaxy Digital, international monetary providers agency BTIG, fintech agency Paxos — of recently-launched stablecoin PAX — and crypto liquidity options supplier GSR. The group plans to work with regulators to create “comprehensive standards” for digital asset market individuals.

Nasdaq and VanEck Partner to Release “Regulated, Surveilled” Digital Assets Products

Nasdaq, the world’s second largest inventory trade, and the U.S. funding agency VanEck have announced a partnership to launch a set of “transparent, regulated and surveilled” digital property merchandise collectively. The partnership, introduced through a tweet after which at a New York crypto convention, supposes that the brand new merchandise would use Nasdaq’s SMARTS Market Surveillance system, alongside VanEck’s MVIS digital asset pricing indices.

Microsoft Japan and LayerX Partner to Increase Domestic Blockchain Use

The Japanese arm of laptop large Microsoft has partnered with nascent blockchain startup LayerX to “accelerate” uptake of the expertise in Japan. LayerX was created in August as a joint challenge between information curation app Gunosy and advisory service AnyPay, and sees blockchain integration for enterprise, together with the applying of good contracts and common consulting. Using Microsoft’s Azure Blockchain-as-a-Service (BaaS) resolution, the businesses will work collectively to advertise broader functions of blockchain.

ASUS Partners With GPU Mining Platform to Let Users Mine Crypto through Graphics Cards

Taiwan-based tech large ASUS and GPU mining platform Quantumcloud have formed a partnership with a purpose to enable customers to mine crypto through their graphic playing cards. Per the phrases of the partnership, homeowners of ASUS graphic playing cards will be capable of mine crypto via Quantumcloud software program and withdraw earnings utilizing PayPal or Chinese app WeChat. Quantumcloud famous that it doesn’t assure income, and that customers want to think about utilization prices on their very own.

Funding Rounds

Funding Rounds

Blockchain Capital Leads Almost $13 Mln Funding Round for U.S. Securities Token Startup

Blockchain Capital has led a $12.75 million Series A funding spherical for American securities tokens startup Securitize this week. The platform, which allows the issuances of digital securities — or safety tokens — of any asset, additionally had  Coinbase Ventures, Global Brain, NXTP, OK Blockchain Capital, and Xpring at Ripple take part within the funding spherical. Blockchain Capital’s co-founder and managing accomplice Brad Stephens will be part of Securitize’s Board of Directors.

Decentralized Exchanges Completes $15 Mln Funding Round with Huobi and OKCoin

BHEX Exchange, a decentralized crypto trade, finished a $15 million funding spherical this week with help from main exchanges like Huobi and OKCoin. According to BHEX, the brand new funding spherical additionally included help from Genesis Capital, amongst others. BHEX’s funding subscription has purportedly attracted over 70 funding establishments, whereas Blue Helix chosen 40 to take part within the first spherical of funding.

Winners and Losers

Winners and Losers

Winners and Losers

The crypto markets are barely within the inexperienced on the finish of the week, with Bitcoin buying and selling at $4,128.16, Ripple at $.37, and Ethereum at $116.48. Total market cap is round $134 billion.

The prime three altcoin gainers of the week are FREE Coin, Etheera, and RabbitCoin. The prime three altcoin losers of the week are ZeusNetwork, Cyber Movie Chain, and TRONCLASSIC.

For extra data on crypto costs, be sure to learn Cointelegraph’s market analysis.

FUD of the Week

FUD of the Week

Bitmain Sued for $5 Mln For Alleged Unauthorized Mining at Clients’ Expense

Crypto mining large Bitmain is facing a class motion lawsuit of $5 million that alleges the corporate mined crypto for its personal profit whereas its prospects’ units have been within the technique of establishing. According to the lawsuit, Bitmain is benefitting from the the prolonged “initialization” interval that its ASIC [Application-Specific Integrated Circuit] units want for arrange. The plaintiff claims that the corporate’s ASIC units are “preconfigured to use its customers’ electricity to generate crypto currency for the benefit of Bitmain rather than its customers.”

US Treasury Adds Crypto Addresses of Two Iranians to Sanctions List Over BTC Ransomware

The U.S. Treasury Department has sanctioned two Iranians allegedly concerned in Bitcoin (BTC) ransomware scheme SamSam, together with their Bitcoin addresses in a first for placing crypto addresses on a sanctions checklist. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took motion towards two Iranian people, Ali Khorashadizadeh and Mohammad Ghorbaniyan, who’re accused of exchanging Bitcoin into Iranian rials (IRR) related to the scheme. OFEC has managed to establish two crypto addresses related to the alleged Iran-based criminals, with 7,000 transactions in Bitcoin and round 6,000 BTC moved since 2013.

Bulgarian Prosecutors Detain Three Hackers Who Reportedly Stole $5 Mln in Crypto

Bulgaria’s Gendarmerie forces and specialised prosecutors have arrested three hackers allegedly concerned in stealing $5 million in crypto this week. According to the investigation, the hackers used new strategies and superior laptop expertise, together with specialised {hardware}, within the rip-off. The investigation, which started 5 months in the past, has ended with the police seizing cryptocurrencies price round $Three million, in addition to computer systems, flash drives, and a {hardware} portfolio for storage of crypto information.

Novogratz’s Galaxy Digital Lost $136 Mln During First Three Quarters of 2018

According to a report from Bloomberg this week, Mike Novogratz‘s crypto funding bank Galaxy Digital has lost $136 million within the first three quarters of 2018. The banks realized and unrealized losses in Q3 amounted to $41 million, and the agency’s share value additionally dropped to a document low after tumbling 55 % this month. Galaxy Digital defined the loss by pointing to the falling costs of Bitcoin (BTC), Ripple (XRP), and Ethereum (ETH), calling the dearth of crypto buying and selling volumes a “headwind” to success.

Zug Court Shuts Down Crypto Mining Firm Over Unregistered Initial Coin Offering

The cantonal courtroom in Zug, Switzerland, has shut down cryptocurrency mining agency Envion AG for providing an allegedly unauthorized Initial Coin Offering (ICO). Envion, a Swiss-based off-grid mining firm that touts itself as utilizing decentralized, clear energy like hydroelectric and photo voltaic to energy its cell mining models, raised round $100 million via its mid-January ICO this 12 months. The funding led to a battle between the 2 companions at Envion, leading to a courtroom trial. This week, the courtroom dominated to liquidate the agency, whereas noting the whole absence of any auditing perform or board.

Prediction of the Week

Prediction of the Week

Civic CEO Believes Bitcoin Will Trade Range-Bound for “Three to Six Months”

According to Vinny Lingham, the CEO of identification administration startup Civic, Bitcoin’s (BTC) value will remain range-bound between $3,000 and $6,000 for the following three to 6 months. Speaking on CNBC’s “Fast Money,” the CEO famous that it’s uncertain that the coin will break down the help stage of $3,000 since there’s “a lot of buying in the short term around that mark.”

Best Cointelegraph Features

Best Cointelegraph Features

Ohio to Accept Tax Payments in Crypto — Setting the Standard for Future?

Ohio state is seeking to grow to be the primary within the U.S. to let companies, and presumably later people, to make use of cryptocurrencies to pay for taxes. Cointelegraph spoke to Ohio’s State Treasurer Josh Mandel, the particular person chargeable for the initiative, about how he sees the state turning into extra of a blockchain hub as effectively.

Trezor One Wallets Forgery Reveals New Techniques Used to Steal Crypto

Last week, Trezor, one of many main crypto laborious wallets, reported that one-for-one copies of their units had been discovered, and warned prospects to watch out of buying Trezors from unreliable sellers. The key distinction between the true and faux Trezors? A holographic sticker on the field, which some critics say is just too weak as a safety measure.

ABC vs SV: Assessing the Consequences of the Bitcoin Cash War

The Bitcoin Cash (BCH) laborious fork happened on Nov. 15, however the penalties are far reaching. Bitcoin ABC, which was backed by each BCH advocate Roger Ver and Bitmain founder Jihan Wu, ended up profitable the allegiance of nearly all of exchanges, however Bitcoin SV is much from being lifeless.

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