Tuesday, May 22Your Daily Bitcoin & Altcoin News Portal
AlphaBay Went Down a Week Ago: Customers Looking for Alternatives

AlphaBay Went Down a Week Ago: Customers Looking for Alternatives

EXCHANGE
AlphaBay, the most popular market on the dark net, has been offline since July 4. Since the administrators of the website failed to issue an official statement about the current issues, many users are suspecting an exit scam. The absence of AlphaBay has since resulted in users looking for alternative underground marketplaces. AlphaBay is infamous for being a site where vendors sell all kinds of goods, including illegal ones such as drugs, weapons and stolen financial credentials. There have been previous downtimes at the market; however, since neither the admins, nor the moderators have stated the actual cause of the issue, many users are suspecting an exit scam. An “exit scam” is when either a seller or an illicit marketplace decides to close down shop and make off with the funds (
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Fabric 1.0: Hyperledger Releases First Production-Ready Blockchain Software

Fabric 1.0: Hyperledger Releases First Production-Ready Blockchain Software

BLOCKTECH
Open-source software isn’t so much built, it grows. And today, the open-source blockchain consortium Hyperledger has announced that its first production-ready solution for building applications, Fabric, has finished that process. But even before the formal release of Hyperledger Fabric 1.0 today, hundreds of proofs-of-concept had been built. With contributions to the platform for building shared, distributed ledgers across a number of industries (coming from 159 different engineers in 28 organizations), no single company owns the platform, which is hosted by the Linux Foundation. For those going forward with that work, the group’s executive director Brian Behlendorf indicated that production-grade functionality is just a download and a few tweaks away. Behledorf told CoinDe
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Bitcoin’s Upcoming SegWit2x Splitted into Two in Test Environment

Bitcoin’s Upcoming SegWit2x Splitted into Two in Test Environment

BITCOIN, MINING
Controversial bitcoin scaling proposal Segwit2x’s testnet forked yesterday, creating two different and incompatible testnets. Nodes running older bitcoin software continued on as they normally would. But nodes running the new Segwit2x code stalled at block 27070, meaning mining pools running the new software were not mining blocks. Overall, the nodes were stalled for over 20 hours as a result of the issue. While there wasn’t any real money on the line, the community was abuzz with the news, some dismissing the controversial scaling proposal for perceived lingering issues, while others defended the misstep as only a small stumbling block that wouldn’t happen during a live deployment. The Bigger Picture of the Hardfork Some developers argue the fork is a symptom of a larger tr
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BITCOIN
Austrian Post Offices Will Facilitate the Purchase of Bitcoin Many people still struggle with the concept of buying Bitcoin. That is not entirely surprising, as there is no convenient way to do so. Signing up for an exchange takes time and can be quite cumbersome, all things considered.That situation will come to change in Austria over the next few months. More specifically, several hundred Austrian post offices will allow users to convert Euros to Bitcoin over the counter. It is rather interesting to consider, one can soon buy Bitcoin from Austrian post offices. Around 1,800 locations will participate in this trial. Thanks to a partnership with BitPanda, users can directly exchange Euros for Bitcoin. Additional cryptocurrencies will be supported as well. For now, we know Ethereum wi
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Why Bitcoin Proves the Naysayers Wrong and Continues to Expand

Why Bitcoin Proves the Naysayers Wrong and Continues to Expand

BITCOIN
Bitcoin has surged to historic value while its volatility has receded, according to an article in The Wall Street Journal by John O. McGinnis, a law professor at Northwestern University, and Kyle W. Roche, a lawyer at Boies Schiller & Flexner LLP. This has happened during a time when recent events might have caused bitcoin to lose value, such as the Security and Exchange Commission(SEC) rejecting a bitcoin ETF that would have allowed small traders to invest in bitcoin on the stock market. The SEC action resulted in obituaries for bitcoin, but the naysayers have been proven wrong. A big reason, according to the authors, is that many people distrust government currency and want to use bitcoin as a hedge or an alternative payment tool when government currency doesn’t efficiently pe
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Israeli Official Urges Regulators to be More ‘Paternalistic’ Regarding ICO’s and Bitcoin

Israeli Official Urges Regulators to be More ‘Paternalistic’ Regarding ICO’s and Bitcoin

ALTCOINS, BITCOIN
An Israeli official gave a talk in Tel Aviv today regarding the challenges with regulating ICO’s and bitcoin. Professor Shmuel Hauser, Head of the Israeli Securities Authority, expressed fear and concern about cryptocurrencies. He seemed to see digital tokens as representing a threat, and he urged regulators to be more “paternalistic” in their oversight of ICO’s.  Investors Cannot Look After Themselves and do Not Understand Cryptocurrencies Hauser elaborated on his position, saying, “We have to address today what is happening with bitcoin, blockchain and ICOs that are challenging the current regulation around the world. It is here at the gates of the stock exchange. It is a new economy where the companies have no faces, and the investors have no faces. Our task is to get ready now in
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Bitcoin and three other investments that look like classic bubbles but actually aren’t

Bitcoin and three other investments that look like classic bubbles but actually aren’t

BITCOIN
Bubbles? Those aren’t bubbles. Charles Schwab SCHW, -1.12%  global strategist Jeff Kleintop says there are plenty of red-hot investments out there that might look like bubbles, but, in reality, they just don’t fit the classic profile. “Bubbles typically bring risks for all investors, even those that don’t own the inflating asset,” he explained, “because they represent a broader market and economy that has become out of balance and dependent upon a flawed outlook.” Previously, these bubbles of the past have “inflated 1,000% over 10 years before bursting, cutting prices by more than half in the following two years,” Kleintop explained. By the time they eventually popped, these investments had become fixtures across investors’ portfolio. Hence, the sweeping impact of their implos
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The Reason Why Bitcoin Miners Dedicate Time to Mining Empty Blocks

The Reason Why Bitcoin Miners Dedicate Time to Mining Empty Blocks

BITCOIN, MINING
Bitcoin mining is an intriguing subject that can sometimes be overwhelming to understand at first without some research. One particular subject concerning the topic of mining is empty blocks, and people often wonder why mining pools mine them. Revisiting the Empty Block Discussion Mining pools are groups of bitcoin miners that work together to find and verify blocks roughly every ten minutes. Most of the time blocks are filled with transactions that are waiting to be confirmed as soon as the miner finds a specific block. Miners are rewarded 12.5 BTC and all the fees associated with the particular block they find. In the early days, blocks were not that full because bitcoin wasn’t as popular as it is today. Lately blocks have been full, often to the maximum size of 1 MB. Blocks fille
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Mark Karpeles Confirms the Existence of Auto Trading ‘Willy Bot’

Mark Karpeles Confirms the Existence of Auto Trading ‘Willy Bot’

BITCOIN
Former Mt. Gox CEO Mark Karpeles has admitted operating a so-called ‘Willy Bot’ (obligation exchange) before prosecutors in Japan. As Karpeles’ trial continues at Tokyo District Court, live rolling coverage is available online thanks to Kolin Burges, a Mt. Gox creditor and creator of action website mtgoxprotest.com. In a series of tweets today, Burges said that despite “super tight security” and a “small courtroom,” he was able to get a place inside, albeit without his interpreter. During the day’s proceedings, which spanned a morning and afternoon session, Karpeles claimed that running the Willy Bot was “for the good of the company so not illegal,” Burges reports. The bot earned its name from Mt. Gox traders concerned that the exchange’s volumes at its peak were the result of fr
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European Commission’s New Report Finds Organized Crime Groups Rarely Use Digital Currency

European Commission’s New Report Finds Organized Crime Groups Rarely Use Digital Currency

FINANCE
A newly released report from the European Commission suggests there is relatively little virtual currency use among organized crime groups. Calling cases involving organized crime and the tech “quite rare”, the report was sent in late June from the European Commission (the European Union’s executive arm) to the bloc’s legislature as well as its body of national leaders. It was made public on July 4. The report’s authors argued that technological limitations – a lack of expertise especially – is behind the apparent low usage rates. They concluded: Few investigations have been conducted on virtual currencies which seem to be rarely used by criminal organizations. While they may have a high intent to use due to [virtual currencies] characteristics (anonymity in particular), the