Please share if you find this article interesting. Representatives from Federal Reserve of St. Louis Write in Favor of Cryptocurrencies Economy & Regulation Aleksander Berentsen and Fabian Schär of the Federal Reserve Bank of St. Louis have recently published an article that emphasizes many of the benefits of cryptocurrencies. The article states “that cryptoassets are well suited to become an important asset class,” in addition to offering praise regarding a number of the major applications associated with cryptocurrencies. Also Read: Classified Ads Site in South Africa Reports Increase in High-Ticket Bitcoin Listings Reserve Bank Representatives Praise Bitcoin The piece opens by outlining many of the core motivations underpinning the development of bitcoin, stating that it
Please share if you find this article interesting. New US Bill Seeks To Fight Terrorist Use of Cryptocurrencies A newly proposed Jan. 10 US bill aims to fight terrorism by offering rewards for information that results in convictions of cryptocurrency-supported terrorism. The bill, introduced to Congress by Rep. Ted Budd (R-NC) of the House Financial Services Committee, proposes an Independent Financial Technology Task Force to dole out the rewards, whose amount in either dollars or cryptocurrency was not indicated. The second section of the bill reads: “It is the sense of Congress that the Federal Government should prioritize the investigation of terrorist and illicit use of new financial technology, including digital currencies.” The fintech task force would be run by the Secr
Please share if you find this article interesting. Enterprise Ethereum Alliance Appoints First Executive Director The Enterprise Ethereum Alliance (EEA) has appointed Ron Resnick, the former president and chairman of the Airfuel Alliance, as the first executive director, according to a Jan. 17 press release. Resnick also served as the President and Chairman of the WiMAX Forum, working with Intel’s Broadband Wireless Business on the launch of one of the first 4G broadband modems. Chairman of the EEA board Julio Faura stated today in a press release: “4G wireless broadband changed the world. We believe Blockchains will have a similar impact on society. Ron’s task as our first Executive Director is to build-out the organization, engage with members and foster the continued developm
Please share if you find this article interesting. Proof-of-Work, Explained What is Proof-of-Work? Proof-of-Work, or PoW, is the original consensus algorithm in a Blockchain network. In Blockchain, this algorithm is used to confirm transactions and produce new blocks to the chain. With PoW, miners compete against each other to complete transactions on the network and get rewarded. In a network users send each other digital tokens. A decentralized ledger gathers all the transactions into blocks. However, care should be taken to confirm the transactions and arrange blocks. This responsibility bears on special nodes called miners, and a process is called mining. The main working principles are a complicated mathematical puzzle and a possibility to easily prove the solution. ...
Please share if you find this article interesting. Crackdown on Bitcoin Hits Businesses in Bali - Bitcoin News Regulation Having issued a stark warning to “all parties” against any use of “virtual currency”, Bank Indonesia has now joined forces with local police to prevent bitcoin transactions where they are most likely to take place – in Bali. The island, a popular holiday destination with tourists spending both fiat and crypto, has been targeted by authorities. Inspections of businesses accepting bitcoin are underway, according to Indonesian media and the crypto community in the country. Also read: Luno Exchange Bank Account Frozen by Malaysian Tax Officials Authorities on the Lookout for Illegal Transactions Representatives of the Indonesian central bank and the national
Please share if you find this article interesting. New Blockchain-based Platform Pays For Watching Videos and Provides Advanced Metrics For Filmmakers Being paid for what a person would do for free is normally considered as the ideal employment in most climes. But being paid for what you would do for fun completely takes employment to another level. What about being able to achieve a dream that would naturally have cost a huge amount of money at almost no cost and not depending on favors from acclaimed stakeholders within the field of endeavor? The above-mentioned scenarios represent the developing trend and promise of Blockchain powered CinemaWell.com to the filmmaking industry which is undergoing significant revolution at the moment. An industry under expansion The influx of in...
Please share if you find this article interesting. Critical ‘Monsieur Bitcoin’ Appointed Head of French Crypto Regulatory Task Force France’s Minister of the Economy Bruno Le Maire has appointed an open Bitcoin critic to head a task force examining cryptocurrency regulation, local source Les Echos reports Monday, Jan. 15. Jean-Pierre Landau, who called Bitcoin “the tulips of modern times” four years ago, will now head France’s efforts to “better control” its regulatory evolution. “We want a stable economy,” minister Le Maire told reporters in a session during which he announced Landau’s appointment. “We cannot allow speculative risk and the possibility of misappropriation [of funds] linked to Bitcoin.” Despite Landau’s past opposition, Les Echos describes him as “Monsieur Bitco
Please share if you find this article interesting. What to Make of ‘Leaked’ Telegram ICO White Paper The global cryptocurrency community has been abuzz with speculation in the wake of a leaked white paper linked to the popular, encryption-based messaging app Telegram. News of Telegram’s plans to launch a Blockchain platform originally broke in December, although it still remains unclear if the project legitimately exists. Cointelegraph has reviewed the leaked white paper, which lays out ongoing plans to launch Blockchain services and its very own cryptocurrency using Telegram as a springboard. While the legitimacy of the white paper and its actual association with Telegram has not been confirmed by the Durov brothers, who founded Telegram, the white paper promises some interest
Please share if you find this article interesting. Get ‘Em While They’re Cheap? Two-Day Crypto Market Slump Offers Steep ‘Discounts’ A second day of losses throughout cryptocurrency markets is giving would-be traders a chance to buy that may not be repeated. Bitcoin dropped below $10,000 on Cointelegraph’s price index Wednesday, Jan. 17. On the same day, Ethereum (ETH) went below $900, marking a price slide of over 30% for both assets this week. Community and industry figures have reacted with mixed emotions to the downturn, which mimics behavior seen in January over the past three years. “Unless you can watch your stock holding decline by 50% without becoming panic-stricken, you should not be in the stock market.” – Warren Buffett. (What’s the numbers for the crypto market?) —
Please share if you find this article interesting. Twitter Reacts to 'Black Tuesday' The cryptocurrency market took an absolute hammering on Tuesday, Jan. 16 in what is being described as ‘Black Tuesday.’ Bitcoin and various altcoins suffered over 40 percent losses in market capitalization on Tuesday amid regulatory uncertainty in South Korea and China. The FUD led to a black day for cryptocurrency markets - arguably worse than the massive price correction that hit Bitcoin in the lead up to Christmas, after it had hit an all-time high of $20,000. As per usual, crypto enthusiasts from all walks of life took to social media to share their thoughts, hopes and fears amid another shaky day in the world of cryptocurrencies. Calls of #HODL ring clear Canadian twitter user Armin van Bitc