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  Bitcoin Wallet Blockchain: ‘Buy Some Ether’ to Make Transactions After SegWit2x
Posted by: admin - Yesterday, 08:39 AM - Forum: News From Cryptocurrency Market - No Replies

Crypto wallet Blockchain has announced its intention to join with Xapo in following the blockchain with the most accumulated difficulty following the proposed SegWit2x. The wallet service advised its users to “buy some ether” if they intend to make transactions immediately following the fork.
Blockchain Wallet to Follow Chain With Most Difficulty
In mid-November, the Bitcoin blockchain is expected to split into two, competing chains following SegWit2x, a hard fork designed to upgrade the Bitcoin network and enable it to scale more effectively. The proposal appears to have strong support from miners and crypto firms — although this support has steadily waned as the fork has gotten closer — but it is opposed by the Bitcoin Core developers, as well as many other businesses and users.
Consequently, bitcoin services have to decide how they will approach the hard fork. Some, such as Bitfinex, are treating the SegWit2x fork as a separate cryptocurrency, while others, including Xapo, state that they will assign the label “Bitcoin” to the blockchain with the highest accumulated difficulty.
Crypto wallet Blockchain — a SegWit2x supporter — has signaled its intent to follow Xapo’s example and determine which chain will receive the label “Bitcoin” based on the amount of accumulated difficulty each blockchain obtains.
Blockchain chief executive Peter Smith made the announcement in a blog post, stating that the service will provide users with access to the coins on the minority chain if they have “significant value”. Like Xapo, they will label the minority chain either BC1 (incumbent) or BC2 (SegWit2x)

‘Buy Some Ether’
Smith goes on to say that Blockchain may suspend outgoing bitcoin transactions following the fork until the networks have stabilized. He suggests users “buy some ether” if they plan to make transactions in late November following the fork.

Quote:During this period, it may be necessary to temporarily suspend outgoing bitcoin transactions for a period of time during network instability.  However, even in this scenario, your funds will remain safe and you’ll be able to monitor them from within the wallet. You’ll also be able to use all Ethereum related functionality.
“If you have transactions to make around late November,” he adds, “we suggest you buy some Ether in our wallet today.”

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  Ethereum Executes Blockchain Hard Fork to Byzantium
Posted by: admin - 10-16-2017, 08:04 AM - Forum: News From Cryptocurrency Market - No Replies

Ethereum has officially updated.
At 05.22 UTC, the fifth hard fork to occur on ethereum, the second largest cryptocurrency by market cap, enacted a batch of ethereum improvement protocols (EIPs) designed to improve the platform.
The price per dollar of ether oscillated wildly in the run up to the hard fork, before rising over 2 percent following activation to $348, according to CoinMarketCap data.

First introduced in the ethereum roadmap in 2015 under the name of Metropolis, that large-scale upgrade encountered some substantial delays, leading it to be broken into two phases – Byzantium and Constantinople (the latter still having no formal release date).
As Byzantium was a planned fork with minimally contentious changes, there's been very little disagreement among the community about the merits of the code changes included in the upgrade. However, the fork is still notable in that it's ethereum's first major upgrade since interest in the technology skyrocketed this year, which has been largely correlated to the popularity of ICO tokens using ethereum's ERC-20 token standard.
The process was at times a little sticky, though, with ethereum developers encountering some pretty nasty surprises in the run-up to the deadline.
Over the last few days, Byzantium-enabled ethereum software was continuously retracted due to critical bugs found in the code. Developers pushed out corrections just in time – but not without seriously consideringpostponing the fork.
According to blockchain analytics website Ether Nodes, nodes running faulty software are currently 65.3% Gethand 30.4% Parity, the two main ethereum clients. As previously detailed by CoinDesk, the faulty software could cause a consensus issue, leading the network to partition, or expose the platform to denial-of-service attacks.
However, so far, there is no sign of a minority fork according to current fork logs, and developers are celebrating the transition on social media.

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  PBoC Digital Currency Director Calls for Centralized State Cryptocurrency
Posted by: admin - 10-13-2017, 08:59 AM - Forum: News From Cryptocurrency Market - No Replies

China may not recognize bitcoin as a legal currency, but it seems to have a clear vision for a state-issued alternative.
At a meeting hosted by the International Telecommunication Union this week, Yao Qian, the Director of the Digital Currency Research Institute under the People's Bank of China, reportedly boasted about the potential of a state-owned digital currency, while suggesting that there is an inherent lack of value anchoring public cryptocurrencies like bitcoin.

According to a report by Yicai, Yao also framed a state-issued digital currency as a way to stabilize domestic fiat currency, while better securing country's financial status.
Although the publication made clear Yao's comments reflected his own opinions, the remarks nonetheless reveal how the country may choose to direct the future development of digital currency.
Yao told attendees:

Quote:"The value of cryptocurrencies such as bitcoin primarily comes from the market speculation. It will be a disaster to recoganize it as a real currency. And the lack of a value anchroing inherently determines that bitcoin can never be a real one."
Launched by China's central bank in June this year, the Digital Currency Research Institute focuses on R&D related to blockchain-based digital currency. Currently head of the institute, Yao also served as the deputy director of PBoC's technology department.
Pointed barbs
Elsewhere, Qian had more criticism for public cryptocurrencies.
In yet another statement, he was quoted as saying that the deflationary nature of economic systems utilizing the technology could be a hinderance to their success. "A total cap of 21 million like bitcoin whose current supply also halves every four years is actually driving backward along the currency evolution," he said.
Yao went on to argue that a state-owned digital currency, however, creates tangible economic values and helps stabilize the market position of fiat currencies.
"The nature of a state-owned digital currency is a government liability issued to the public," he said. "And it's backed by the sovereign credibility."
Yet, Yao takes a different approach from current trials of other central banks' cryptocurrency projects that focus on the distributed ledger technology.
Citing the RSCoin design concept by the Bank of England as a promising example, Yao argued that such state-owned digital currency should not be confined by the ideology of the blockchain and DLT.
"RSCoin pictures a system that is controlled by the central bank," he said. "The role of central banks may not just be deciding how much to supply but also designing the rule of the supplying algorithm."

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  Lithuania's Central Bank Publishes New ICO Guidance
Posted by: admin - 10-12-2017, 08:29 AM - Forum: News From Cryptocurrency Market - No Replies

Lithuana's central bank has become the latest financial institution of its kind of release new guidance for those seeking to organize an initial coin offering (ICO) in the country.
The four-page position note features two sections: one that largely reiterates a 2014 statement effectively banning banks and financial institutions from handling or otherwise working with cryptocurrencies, and another that hones in on the issue of ICOs. It comes on the heels of similar statements from other central banks regarding the legal ramifications of such offerings.
On the question of ICOs, or the sales of cryptographic tokens commonly used to bootstrap a new blockchain network, the central bank outlined a number of national laws that could apply – depending on the characteristics of the project and the function of the token itself.
Marius Jurgilas, one of the central bank's board members, said in a statement:

Quote:"Notwithstanding the fact that such activities are not regulated, in their essence, they are the raising of funds from investors, often unprofessional, to finance some activity. Since the risk of losing investors' funds and other risks are particularly high, our position is that such offering, in certain cases, should be subject to investment related legislative requirements and restrictions."
The central bank said that Lithuania's laws regarding securities, crowdfunding, collective investment schemes and the offering of financial services more broadly could impact the blockchain use case, per the text of the position note.
At the same time, the institution clarified that there is no specific piece of regulation regarding ICOs – a factor that both organizers and investors should bear in mind when moving ahead with any launch plans.
"It should be noted that, when deciding on the application and scope of specific legislation of the Republic of Lithuania for specific ICO, the conditions of the relevant ICO should be analysed and assessed," the document states.

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  Putin Tells Central Bank Not to Create Unnecessary Barriers to Cryptocurrencies
Posted by: admin - 10-11-2017, 08:44 AM - Forum: News From Cryptocurrency Market - No Replies

The President of the Russian Federation, Vladimir Putin, held a meeting on Tuesday to discuss cryptocurrencies. It was attended by top regulators including the central bank governor, her deputy, and the finance minister. While Putin acknowledged the risks associated with cryptocurrencies, he stressed the importance to not “build up unnecessary barriers” for new technologies.
Also read: Japan’s Largest Bitcoin Exchange Bitflyer Launches Bitcoin Visa Prepaid Card
Putin’s Meeting
Russia’s president Vladimir Putin held a meeting “on the use of digital technology in finance and the implementation of innovative financial tools” on Tuesday, according to the Kremlin’s website. The meeting was attended by Presidential Aide Andrei Belousov, Finance Minister Anton Siluanov, Central Bank Governor Elvira Nabiullina, Central Bank Deputy Governor Olga Skorobogatova and Qiwi CEO Sergei Solonin.
[Image: meeting.jpg]

Putin’s meeting on using digital technology in finance on Tuesday.
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Anton Siluanov and Olga Skorobogatova at the meeting.

“Today, I propose addressing a topic that is relevant not only for our country, not only for Russia, but is probably becoming relevant also for the rest of the world,” Putin addressed his colleagues. “I am referring to introducing digital technology in the financial, banking sphere, and using innovative financial instruments.”
The head of state suggested that they discussed the use of cryptocurrencies, “taking into account all the various components of the problem,” Tass summarized.
Putin on Cryptocurrencies, Outlining Risks
Before the meeting started, the president of Russia gave a brief introduction on cryptocurrencies. “As is known, virtual currencies, also known as cryptocurrencies, are becoming or have already become very popular,” he began. “In certain countries, they are becoming or have already become legal tender, as well as an investment asset,” Putin continued, adding that:
Quote:
Quote:I would like to draw your attention to the need to use the advantages that are offered by new technological solutions in the banking sphere.
He then pointed out some risks associated with using cryptocurrencies, stating that “the use of cryptocurrencies also carries serious risks. I know the central bank’s position; I have discussed this topic with the Governor on several occasions.” He elaborated:
Quote:
Quote:First and foremost, this is an opportunity for laundering illegal gains, tax evasion and even financing of terrorism, not to mention the proliferation of scams to which ordinary people can fall victim. Cryptocurrencies are issued by an unrestricted circle of anonymous entities. Therefore, buyers of cryptocurrencies may be involved in illegal activity.
Furthermore, Putin emphasized the lack of security for cryptocurrencies. “If the system breaks down or, as it is trendy to say today, if there is a bubble, there will be no entity legally responsible for that. This is a serious matter that we should bear in mind when discussing this topic,” he described.
Do Not Create ‘Unnecessary Barriers’
[Image: shutterstock_543639442-300x236.jpg]After outlining the risks he associated with cryptocurrencies, Putin went on to emphasize the need for regulations.
Citing how many countries are already working on creating legislative framework for digital currencies, he asserted that “we need – based on international experience – to build a regulatory environment that will make it possible to codify relations in this sphere, reliably protect the interests of citizens, businesses, and the state and provide legal guarantees for using innovative financial instruments.” To that end, he emphasized:
Quote:
Quote:It is important not to create unnecessary barriers, of course, but rather to provide essential conditions for advancing and upgrading the national financial system.
In June, Putin met with Ethereum founder Vitalik Buterin and briefly discussed the possibility of using Ethereum within the Russian government. The Russian President has been a proponent of new technologies. According to First Deputy Prime Minister Igor Shuvalov, Putin understands that hi-tech and the digital economy spur growth rates, adding that “it is not an overstatement to say that the president is passionately fond of it.”

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  Mastercard CEO Attacks Bitcoin, Finds Solace in Government-Backed Cryptos
Posted by: admin - 10-10-2017, 08:41 AM - Forum: News From Cryptocurrency Market - No Replies

[Image: 725_Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdl...5qcGc=.jpg]

ADOPTION

Ajay Banga, CEO of Mastercard, has leveled a scathing attack on any and all cryptocurrencies that are not government mandated, calling them “junk”.
Digital currencies are almost direct competition for a company like Mastercard, and when asked his opinion on the futuristic technology, Banga was not complimentary of how things stand at the moment.
Big disruptor
Knowing that digital currencies are big disrupters in the traditional money market, traditional investors, and now even established money movers, have been scathing.
Banga was not totally against the idea of Blockchain-based money and tokenization, however, his big caveat was that it needs to be government backed.
“If the government creates digital currency, we will find a way to be in the game. We will provide rails for moving currency from customer to merchant. The government mandated digital currencies are interesting. Non-government mandated currency is junk,” he said.
Normal rhetoric
Banga’s attack on Bitcoin brought up nothing new or visionary, spurting the usual concerns without much backing or research. He criticised Bitcoin for its volatility, and use-cases for illegal activities, such as ransomware attacks:

Quote:“If I pay for a bottle of water in Bitcoin, one day it is two bottles for a Bitcoin the other day it is 9,000 bottles. This does not work. Any currency needs stability and transparency, otherwise you will get all the illegal activities in the world. Why was the ransom for the virus (wannacry ransomware) collected in Bitcoin? Why has China cracked down on Bitcoin?”

Banga seems to be another bigwig who has a stake in the game, and thus is not happy to give up that piece of pie. He, along with traditional bankers and investors, are fearful of Bitcoin as it continues to break new ground and blow precedents out of the water.
The Wall Street divide
The divide of big names on Wall Street seems to grow daily as those in the camp of Jamie Dimon, who called Bitcoin a ‘fraud’ continue to recruit those who seem to be more fearful than certain.
Meanwhile, there are those who are looking to profit, and those who are major backers, despite coming from traditional and closed-off investment channels.
Axel Weber, the former President of Bundesbank and Chairman UBS, said:
“I get often asked why I‘m so skeptical about Bitcoin, it probably comes from my background as a central banker.”
Meanwhile, Brock Pierce, Chairman of the Bitcoin Foundation, is taking these knee-jerk reactions as good things.
“When the incumbent industry is making statements like this and acknowledging you...it’s a sign that what we’re doing is working...it’s a huge validation,” said Pierce.

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  Aurum Bank - a global investment company
Posted by: admin - 10-10-2017, 12:44 AM - Forum: Reviews - No Replies

Quote: Money News Online Review

I’ll be introducing in the second part of today’s update. But before all of that there’s one particular new addition to the MNO monitor’s Premium List that I want to talk about for a while called AurumBank. When I say new by the way, I mean it’s just new to my monitor. In reality AurumBank has been online for around two years now so I imagine some of the more observant readers may have come across the name somewhere already. In many ways however as we shall see it could be argued that AurumBank is only getting started, and in real terms is in fact very much a new program. For those not yet familiar with AurumBank then let’s take a closer look and see if they have anything there you might like to be a part of.
AurumBank
First of all a little background information. You are probably wondering how on Earth any HYIP could stay online for two years, especially since the industry has seen such a downward trend at the moment. Well, there’s no great mystery here. AurumBank has been running on autopilot as a “sleeper”. The admin simply creates a functioning website, and remember it doesn’t necessarily need to have anything whatsoever in common with the version of AurumBank we see at the moment, and buries it. You get it announced on the main HYIP discussion forums as proof of the starting date, maybe hire one or two discreet monitors that will keep a historical record of whatever small payments you need to make them. The admin can then keep this going for how ever long he wants, until such a time as he decides to sell it to someone who will take a more active role in running it as a business, or develops it himself into a proper working HYIP open to investors. In the case of AurumBank, and of course I’m leaving out a lot, this is the path it took in coming to you in the format we see it in today – polished and ready for business, and maybe I suspect a few more improvements yet to come.

Let’s move on then to what’s really important about AurumBank which is the investment plans. Your first impression here might be to feel somewhat overwhelmed as there are no less that 25 of them in total. It’s not really that confusing though as the vast majority of the plans can and will be avoided by almost everyone. They either cost ridiculously high premiums to join, offer vastly exaggerated and unachievable returns, or both. They are also “explained” (a word I use lightly here) in such a way as to be deliberately misleading. For example, all investment terms are measured in business days, but you are shall we say allowed to think it’s calendar days. Other plans appear to offer daily interest payments, but in reality AurumBank have compulsory 100% compounding (they prefer to call it “plowback”) in place so you only get one payment on expiry, and if you didn’t realize this before making the investment, well, tough luck. So I would urge you to pay very close attention to the following, an accurate description of how the plans in AurumBank actually work.

I’m going to start with a group called The Classic Plans. This isn’t the first group you will see in your AurumBank members area, but I’ll start with them anyway because I think they are the only ones that will make any real sense to most experienced readers. The first option here opens with a very affordable $10 deposit and runs for 260 business days. That’s 52 weeks exactly, or a full calendar year. During that time AurumBank are offering you 0.8% interest on your deposit every day from Monday to Friday. That adds up to 208% by the end of the term, when AurumBank offer to return your initial deposit. You reach the break-even point after 25 weeks, around six months, so only then do you start to see any profit. There is no maximum limit placed on investments here.

The second Classic Plan will set you back at least $350 to join, again with no stated maximum. The term length is cut back considerably to 110 business days, or 22 weeks. While this is running AurumBank offer members a daily rate of 1.1%, paid Monday to Friday, and your principal returned on expiry. That leaves you with 121% in net profits, a smaller number than the first plan but a much shorter 91 days to break-even and see your first profit.

As the remaining plans in this section open with a minimum deposit of $50,000 I’m going to suggest you look at your AurumBank members account area for further details if interested and move on to The Stable Plans which can be joined for a $750 minimum. For this amount your money is held for a 110 business day term and is described as earning 3% interest per day. The reality is that this 3% is kept by the program and is not allowed to be withdrawn by you at all. Officially this is re-invested on your behalf to give a compounded return of almost 2,500% interest. I think experienced readers will know what the odds are of any HYIP admin handing over that kind of money, for the newbies I’ll just say please don’t learn this lesson the hard way, and leave it at that. Remaining plans in this category open at $40,000 so check your AurumBank account area for more details if interested.

Next up is a section called The Prestige Plans. In practice these work the same way as the last group insofar as they make just one single payment on expiry to AurumBank members. The difference here is that it’s explicitly stated as such, not described as making a daily payment which you are not allowed to withdraw. To join in here AurumBank ask a minimum deposit of $850. The return after 110 business days unfortunately is 6,500%. I say “unfortunately” because if you are realistic about it you will know this is impossible. Remaining plans start from a $45,000 minimum so there’s no need to go into detail about them here. Check your AurumBank members area if you would like to see the numbers.

For The Premium Plans AurumBank return to compulsory compounding. So while you might like the sound of the daily interest payments they seem at first glance to be offering, you really only get one single payment on expiry. The minimum to join is $950, which the plan description says earns 7% interest per day, Monday to Friday only, for 110 business days. With that interest retained by the program at all times the actual offer is compounded to over 170,000%, so once again, this is simply not going to happen. The best way to describe an investment here is “donation”. Just for your information the remaining plans continue with a $50,000 minimum deposit so see your AurumBank account if you want to know more.

And finally we have The Partner Plans. As they come with a $60,000 minimum spend I doubt anyone has much interest in hearing about these either, but I’ll just tell you it involves compulsory compounding yet again. This in turn makes the suggestion that anyone apart from the admin will actually get paid here a complete work of fiction.

If all of that makes as much sense to you as I hope it does, then the next thing you need to know is what your payment options are. For now, and I think it will probably stay this way, AurumBank have a fairly predictable list of processors but with the main popular ones all there. You can use any of PerfectMoney, AdvCash, or Payeer as the more traditional payment handlers, and BitCoin for those who favor crypto currencies. Payouts to members need to be requested from inside your private AurumBank members account area. Technically these are promised to be completed manually within 48 hours, long enough in the first place but then we are told this could possibly even stretch to 72 hours over the weekend. I do get the feeling though that there may be a more casual approach to this rule and it might only be more strictly enforced when it comes to principal withdrawals. The reason I say this is because my own withdrawals have all been done within a reasonably short space of time so far.

On the more technical side of things, particularly in relation to design and security, it probably comes as no surprise to anyone that AurumBank is running off a script from GoldCoders. Most of the regular HYIP investors will recognize it as such, and it has all the trademark features and I will just confirm for you that it’s under license. Hosting is on a dedicated server with the support and protection from DDoS attacks provided by DDoSGuard. An extra layer of security is added with a superior Green Bar Extended Validation SSL certificate from Comodo to allow for safer browsing and more secure transactions.

If there are any further questions for the admin that you think he might explain better to you than this review or any other account related issues you need to have dealt with then AurumBank can be contacted through several methods. Assuming you have read the FAQ page and can’t find an answer there, you can either fill out your details on the online e-mail support form and submit it or alternatively you can simply write directly to the admin at the e-mail address listed. Although you should probably start by trying the Live Chat support as they might be able to deal with your queries in real time before you go composing any lengthy mails. There’s a postal address in the UK where AurumBank claim company registration, something which can be safely ignored as an extra provided for you by the service that carries out the registration for you and not where you would find anyone involved with the program physically located. On the other hand there is a phone number so feel free to call them if you expect someone to answer. Of more practical use is the list of social media networks where AurumBank have active profiles. You can currently find them on Facebook, Twitter, VK, and YouTube. Currently the AurumBank website is only available in English, though it’s strongly implied that this might change before long. There’s a regional representative scheme in place where other investors act as promoters and support operators in return for improved ref commission rates. Check out the list if you think there might be someone in your area or speaks your language you want to contact, or contact the admin if you are interested in becoming one yourself.

For the business activities, by which I mean alleged business activities, AurumBank are, we are told, “a global investment company”. Texts, while original, do seem to go around in a circle a bit, talking a lot but saying nothing if you know what I mean. In other words there’s a lot to read but no information when you get there and nothing to suggest there any actual investment business being run here. There are various registration documents you can view, all of which are easily obtainable online so make whatever you like from them. Just remember that even if any of the HYIPs you join were genuinely involved with a real business there would still be absolutely no guarantee their activities would bring you a profit. Remember that millions of dollars are lost in ForEx trading and the stock markets every day just as surely as its won. So don’t delve too deeply into that side of things if AurumBank is something you are interested in joining, just treat it like any other HYIP and behave accordingly. Set yourself a sensible spending limit that you can afford to lose, and try and keep AurumBank if you have anything there as a smaller part of a wider more diverse portfolio.

Join here:

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  Oracle's Entrance: Database Giant Unveils Enterprise Blockchain Strategy
Posted by: admin - 10-09-2017, 01:23 PM - Forum: News From Cryptocurrency Market - No Replies

Database software giant Oracle is officially a player in the world of blockchain.
The firm unveiled its enterprise-grade blockchain cloud platform Monday at its OpenWorld 2017 conference in San Francisco. With the initial debut – a public launch is expected sometime next year – Oracle becomes the latest entrant in the "blockchain-as-a-service" ecosystem, joining the likes of IBM and Microsoft, two other tech majors that are courting enterprise customers with their respective cloud-based distributed ledger resources.
Oracle, according to its announcement and statements from execs, is looking at the technology as a way to extend (and streamline) its existing cloud-based offerings, which are largely aimed at the digitization of a range of business functions.
The company wants to attract both large and small firms, but Frank Xiong, Oracle's group vice president of Blockchain Cloud Service, argued that startups looking to test a smart contract or an application will be able to do so more cheaply using the cloud platform because pricing is based on transaction volume.
"This will give them a very good reasonably priced way to start up their application," he told CoinDesk. "I personally think this will be a big attraction to these startups."
For existing ERP customers, the platform will provide a way to connect with outside partners and customers, plugging them into internal channels and processes in a confidential and secure manner.
As Xiong explained:

Quote:"This blockchain platform will give them a platform to extend their services beyond their enterprise bundle, which means they can extend them outside to their business partners, advantage customers and so on."
Though the exact date isn't clear, Xiong said that the service will be made publicly available some time in 2018.
Dismissing concerns
As one of the largest and most reputable database providers in the world, there is a perception that Oracle might be potentially cannibalizing its core business segment by embracing blockchain, a technology that, by its nature, enables the distribution of information without having to trust a central administrator.
However, Xiong was quick to dismiss those concerns, along with the notion that blockchains and databases should be viewed as competing entities.
"We actually think that this is an advantage to us," he said, arguing that the idea that blockchains are "distributed databases" is not entirely accurate.
Because copies of data in a blockchain network need to be kept by all of the various peers and nodes, he explained, increased adoption of blockchain among Oracle's core client base will actually create new demand for the company's traditional data storage solutions.
He continued:
Quote:"In traditional computer science, there is just one copy of the database. In blockchain, all of the ledgers are distributed, so actually everybody gets a copy [of the data]. So this is only going to expand that data storage [requirement]."

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  Japan’s Finance Industry Embraces Bitcoin Mining
Posted by: admin - 10-06-2017, 10:10 AM - Forum: News From Cryptocurrency Market - No Replies

Japan’s major players in the financial industry are eyeing bitcoin mining with a goal of generating new revenue. They also hope to help set the ground rules for using bitcoin. In early September Japan’s GMO and DMM.com said they were moving into the mining space. Both companies have started crypto and bitcoin exchanges. 
Also read: Greek Court Supports Extradition of Former BTC-E Operator Alexander Vinnik
An Asia Nikkei article summarized: “Some of the middlemen that cryptocurrencies were designed to cut out are getting into the virtual mining business. With Japanese eagerly buying into bitcoin and similar currencies, SBI HoldingsGMO Internet and other online securities companies hope to turn mining into a new revenue source.”[Image: shutterstock_631021112-1-150x150.jpg]
Kevin Helms, writing for news.Bitcoin.com, covered GMO’s foray into bitcoin mining last September when the company announced it. He said, “Japan’s leading internet conglomerate and bitcoin exchange operator GMO has announced that it is expanding into the businesses of bitcoin mining and chip manufacturing. The company revealed plans to produce and sell 7nm semiconductor chips and run a mining facility in Northern Europe.”
Why mining, why now?
With greater adoption and usage occurring in the bitcoin ecosystem, the mining rewards for bitcoin are also becoming extremely lucrative. However, an individual or organization must have a lot of dedicated resources to get involved. Currently, large mining pools are a necessary prerequisite to generating massive revenue. Combined, miners across the world collect $7.84 million a day.

Quote:
Quote:According to Blockchain, a British startup, miners across the globe collectively make $7.84 million a day — 10 times more than two years ago.
This extra revenue has inspired Japan’s financial industry to secure some major mining pools. They are especially looking to maintain pools outside of Japan where electricity is cheaper. The Asia Nikkei article elaborated, saying, “But there’s the matter of keeping energy bills manageable. In August, SBI set up a new mining unit. The plan is to establish a mining base outside of Japan where electricity is cheap. Monex, meanwhile, plans to issue its own digital currency and to mine it.”
Furthermore, Japan is hoping to capitalize on China’s authoritarian rules. Since China banned ICOs and shuttered several exchanges, Japan has risen to the top in cryptocurrency and bitcoin trading. There are rumors circulating now that China might try to stamp out bitcoin mining, Japan likely sees this as an opportunity to capture a large chunk of the mining market.
Setting the Rules and Becoming a Dominant Player in the World of Bitcoin Mining
This market capture would also provide Japanese miners with a say in how the bitcoin[Image: shutterstock_545617690-150x150.jpg] protocol works. In other words, if they have a huge stake in mining, they will be able to influence some of the rules governing bitcoin. The site said, “Bitcoin is run by a dozen or so engineers, called core developers, who set rules for the currency. Miners also have a big say in this regard.”
With all the facts in perspective, it is no wonder why Japans large financial sector is looking to start mining heavily. Their timing appears to be impeccable, and they could very well secure a dominant position as a major player in bitcoin mining.

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  What is Gladius - “Decrease Load Times. Fight DDoS Attacks”
Posted by: admin - 10-05-2017, 09:47 AM - Forum: News From Cryptocurrency Market - No Replies

DDoS attacks have been around for a while now and they are becoming increasingly common when operating an online business. Cryptocurrency exchanges like Bitfinex and Kraken are a prime example of this, both of them having been DDoS’d recently, in 2017. Last year, DDoS attacks cost companies around $150 billion and, according to securelist.com, DDoS attacks are changing “from something of a novelty into an everyday occurrence”, thanks to the use of botnets.
Current DDoS protection services have multiple problems such as the outdated subscription model, slow speeds, and even lack of safety with Cloudflare itself being DDoS’d and shut down for a few hours this summer. Although hackers that perform these attacks through botnets have found a way to use distributed resources in a somewhat efficient manner, regular internet users are yet to do so.
The DDoS problem is very real, and it actually very common in the case of upcoming ICOs. As a matter of a fact, several ICOs were DDoS and had to delay their public sale, not to mention the huge reputation and economic damages they suffered hours prior to launching. This is possible because current centralized solution are extremely expensive and easy to take down and exploit.
This is where Gladius comes in.
What is Gladius and how does it work?
The Gladius Network is a decentralized platform created to protect against DDoS attacks and to accelerate websites through a CDN. To do so, Gladius will leverage a global network of participants who will rent/use their idle bandwidth to help safeguard and accelerate websites by providing DDoS protection and participating in a global Content Delivery Network (CDN).
So, how does it work? The Gladius platform will allow anyone with a computer and internet connection to install a simple piece of software and start renting out spare and underutilized bandwidth. The users who share their bandwidth resources (nodes) will then be able to handle a “a continuous stream of requests to validate website connections” and block malicious activity as a group. Gladius co-founder, Max Niebylski stated:
“Gladius kills two birds with one stone utilizing unused resources to build a robust network to make websites load faster and yet still stay strong under network flooding attacks Typically, more people means less security and certainty. However, Gladius completely flips that paradigm by using numbers to our advantage. Using the blockchain to create a network of trust enables us to spread sensitive and vital information across the globe while remaining fully encrypted.”
In the Gladius’ system, blockchain technology is used as an incentive layer, allowing users to earn Gladius Tokens (GLA) for every website request they validate. The rewards that are allocated to nodes are financed by websites looking for protection. Webmasters will to request services on the Gladius website, paying with the GLA token (Which can also be acquired on the Gladius website).
Gladius will also allow webmasters to buy Content Delivery Network (CDN) services. These services are also provided by the nodes that make up the Gladius Network, allowing them to receive a GLA reward for their services. The decentralized nature of the Gladius Network allows for much faster times,  given that clients are connected to a node that nearby, rather than connecting to a far away datacenter.
As so, Gladius is able to make websites much more efficient, allowing them to save thousands on DDoS protection subscriptions that are hardly used and to deliver content faster. All of this, while opening up a revenue stream for owners of idle/spare bandwidth who help “protect and accelerate websites across the globe”.
Read the whitepaper here.
The Gladius token & ICO
The Gladius token (GLA) is an ERC20 token based on the Ethereum blockchain. It is key component to the Gladius Network, given that it is the only currency used to buy DDoS protection and CDN services from the Gladius Network nodes. While most of the reward is allocated to the node, a small share is used for  to protocol development and support.
In order to fund the development and marketing of the network, as well as to distribute the GLA token efficiently, an Initial Coin Offering (ICO) will be hosted. The Gladius presale is happening now and the public ICO will start on the 1st of November and will last until the 30th of November, 2017. The ICO token allocation represents 60% of the total token supply and will be available for 0.002 ETH each. The ICO funding cap is 83333 ETH.

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