Can't recover MtGox password - Bitcoin Stack Exchange

Mt. Gox Co., the bitcoin exchange that collapsed in February, gave up on a plan to revive itself, dealing a setback to creditors seeking the recovery of hundreds of millions of dollars in the virtual currency.

Mt. Gox Co., the bitcoin exchange that collapsed in February, gave up on a plan to revive itself, dealing a setback to creditors seeking the recovery of hundreds of millions of dollars in the virtual currency. submitted by madazzahatter to japannews [link] [comments]

Dangerous narrative taking over in this group? Do NOT advise newbies to keep funds on exchanges

I just saw the above idea (newbies = exchange keepers) get upvoted and
"Not your keys, not your coins"
get downvoted.
Let's get this straight folks.
My response:
-------------------
Ok, this space is ABSOLUTELY screwed up.You have "0" for saying Not your keys, n y c???
Fixing that with an upvote right now... and,
another example where people who don't know are telling people who don't know.
The worst advice you can give to a new person is to have them *trust* a third party to secure their crypto. This IS cryptocurrency. The basis is cryptography. Privacy. This is not Fiat 2.0 . Cryptopia, Coinexchange.io, Mt Gox... dozens of examples.
Crypto is not for people who shun responsibility. Unfortunately this is most alive today, especially in Western societies. Tons of snowflakes that will melt the moment anytime something doesn't go their way. They've been brought up being told that they can do no wrong, the world owes them everything-- and even Amazon has "frustraton-free" packaging.
Crypto is for responsible human beings, not petulant children. You lose it and it's lost--- this is how it is DESIGNED to work. This means we have to be proactive and protect our personal assets.
I'm not into "wrong" and "right" per se, however it is absolutely wrong to advise a new person to hold their and their family's future wealth with someone else because they could be careless and "lose" it. You want to drive a car? You learn. You want to hold a job position? You learn. You want to have a decent relationship? You keep screwing up until you eventually, hopefully learn. Let's not coddle new people and treat them like they're stupid or can't learn about personal security.
The WORST thing you can do is keep your funds on an exchange. What is happening to the Bitcoin community? This is madness. Heresy! Blasphemy!
(Rant over. Sitting down now.)
--------------------------------------------
(in response to)
People new to bitcoin who would otherwise store their coins on unsecured computers or be careless with or lose their recovery words would have less chance of losing their coins by storing them on coinbase or gemini. I'm not sure if that is an unpopular opinion around here, but it's true.
You can get hit by a vehicle crossing the street.
This is true.
We do not cover everyone in pillows and roll them across the intersection one at a time. We teach responsibility and safety--- look both ways before crossing the street.
Do not let your future wealth be crashed into by an oncoming exchange because there are those that think you'd be inept in keeping your "money"/crypto/treasure safe.
submitted by MineyMcMinerson to Bitcoin [link] [comments]

Happy Halloween! Audit Statuses of Canadian Cryptocurrency Exchanges

Halloween is a wonderful time of year!
Businesses and consumers alike dress up, children go door to door naively asking strangers for candy, and everyone parties celebrating things like death and evil.
In the spirit of Halloween storytelling, let me tell you a scary story.
There once was a Canadian cryptocurrency exchange. It had one of the simplest user interfaces, the CEO was well known in person and trusted throughout the country for over half a decade, and it had several deposit and withdrawal methods. It was the first to register as a money services business and for much of its history, it was one of the most legally compliant exchanges. It even looked to be headed for public listing on the TSX. The exchange operated for 6 years, assuring users that all funds “are stored in cold storage, using some of the most secure cryptographic procedures possible.” Unfortunately, while we celebrate Halloween by dressing up and wearing masks once a year, the wonderful people who brought us this exchange played “dress up” for over half a decade and time will only tell if there are any more “masks” to come off in this story.
There’s no better or more fitting time to explore one of the darkest realities of the Canadian cryptocurrency space - exactly what is backing any of the cryptocurrency on Canadian exchanges. It’s easy to lose sight that there are real people behind these funds. Most people spend most waking hours working for their money. It literally is their lives. Impacts to victims are not just financial, but psychological and social as well. Victims of exchange fraud go through depression, anxiety, and trauma. They lose their trust and faith in humanity. They withdraw from friends and family in shame and humility.
In the spirit of exploring dark and evil things, let’s examine exactly what evidence there is that any of your crypto is backed on any Canadian exchange. This is a continuation of research I’ve been working on since May/June. I hope it will be enlightening and help you better protect your funds that you worked hard for.

I’ve done a detailed analysis of all Canadian exchanges I could find that handle any sort of custody of funds, and grouped them into 3 categories:

Non-Audited Exchanges (“trust us, we haven't spent your money, we promise")

Bitvo - The service “utilizes a proprietary cold storage solution”. Proprietary, as in, definitely better than established non-proprietary solutions. If you can’t withdraw, they “will credit your account for [their] withdrawal fee”. They’re not an MSB that I could find, nor are they audited.
Coinfield - MSB. No audit. Luckily it’s the "most secure trading platform in Canada" - though apparently not the other 150+ countries, including Estonia where they’re based. No matter which country you pick, the “Security” page still says "most secure trading platform in Canada".
Coinsmart - MSB. Not sure what "[i]ndustry leading cold storage" is, but luckily they’re so "accountable to [their] clients, community and to each other" and "committed to being open and honest" that they don’t need any audit.
Coinut - MSB. Also "the most secure cryptocurrency exchange platform". In addition to not using multi-sig and "not us[ing] USB drives, as the online computer may be infected with virus", they also don’t use audits.
Einstein - You can get “your money deposited and withdrawn faster than any other exchange”. As one customer said "With so many hacks and exit scams, it gives me confidence knowing Einstein is backed by hard-working people just like me." Just check the user experience on their subreddit from their "220,000+ satisfied customers".
EZ-BTC - As they said, “All your coins are kept in cold storage. They’re safe.” They have “strong security”. The supposed presence of physical ATMs was one of the strategies to build customer confidence and they promised 9% annual return on stored funds.
NDAX - MSB. Luckily also “Canada’s most secure trading platform” with "fast withdrawals". I couldn’t find any audit but at least there’s a full page risk disclosure and disclaimer. You can sleep peacefully knowing that they’re legally protected.
Netcoins - MSB. The best assurance I could find of solvency is that they “can process large transactions”. Although they don’t waste time with audits or links at the bottom of their website, apparently “[a]ll transactions happen quickly and securely” “within the same day”.
Newton - MSB. “No-fees”! Your funds are stored in the "professional custody" of Balance, which doesn’t appear to be a registered MSB. I couldn't find any audit of the funds but they "audit [their] policies and controls". They "publish the reports", but I couldn't find any reports. Simply storing funds somewhere else doesn’t give any assurance they cover customer balances.
QuadrigaCX - Operated since 2013, with “vast cryptocurrency reserves” right up to the end. "Bitcoins that are funded in QuadrigaCX are stored in cold storage, using some of the most secure cryptographic procedures possible." Their "cryptographic" procedures are so secure that nobody can access any funds, even now!
Shakepay - MSB. Many will trust the raccoon mascot promising “commission-free” trading. No audit found but the “majority of all digital assets on Shakepay are stored securely offline”. Whatever this means, it’s good to know that up to half might not be.

Audited Exchanges ("so and so swears we didn't spend your money, you can trust them, we showed them once before")

Bitbuy - MSB
Coinberry - MSB
Coinsquare - MSB
Kraken - Not a registered MSB in Canada (that I could find)

Proof of Reserves ("here's your money, right here right now on the blockchain, and here's a proof that we included your balance in that total")

Rather than depend on outdated audits (or lack thereof), it’s actually possible to use the blockchain and cryptography to enable a public real-time audit. This can give assurance to every customer that their balances are fully backed. Giving everyone the ability to check the integrity of balances will keep us all safer. It immediately exposes any fraud, and in most major hacking cases there was advanced hacking that went unnoticed ranging from months (Bitgrail), or years (Mt. Gox). Having an aware public reduces the number of people trading on fraudulent exchanges, and can pressure the exchange to shut down trading or resolve the hack faster, so less funds are permanently lost.
To help explain exactly what this is and how it works, I’ve started a detailed tutorial. I did not come up with this algorithm - it was created in 2014 by a guy named Gregory Maxwell. Sometimes cryptography can be hard to understand. Hopefully this tutorial is simple:

< < Take Our Proof of Reserves Tutorial > >


Given what can often be at stake, I had hoped that maybe one of the “audited” exchanges might embrace Proof of Reserves. Sadly I haven’t had any such luck.
Bitbuy:
Coinberry:
Kraken:
As such, the bottom line is that present exchanges don’t want to share public keys and offer the kind of transparency which is necessary to enable customers to know their funds are backed. Attempting to get answers doesn’t reveal them, and I’m left with an unnerving silence not unlike the end of Halloween night, like I’m asking questions nobody should ask.

Having spent the last 8 months of my life watching and being part of a large group of people suffer through a grueling bankruptcy, where we’ll be “lucky” to only lose 90% of our funds, I want this fixed. I don’t want to live in a reality where fraud can happen just buying/selling on the largest and most trusted exchanges. Especially now that I’ve learned blockchain provides the capability for even greater transparency and a level of public audit far beyond even what's possible with fiat.
If you feel the same way, I invite you to join Quadriga Initiative, where we are fighting for a Proof of Reserves future and also enabling businesses to help Quadriga victims with an innovative token recovery project. Every sign-up helps us reach our goal and launch the project!

If any information in this post is incorrect, please let me know so I can fix it! Thanks! I’m happy to update the audit status of any exchange given reasonable evidence, or provide a review of any other custodial exchange I might have missed.
submitted by azoundria2 to QuadrigaInitiative [link] [comments]

Plan To Recover Our Losses


Background on the Initiative

My name is Matt. I’ve lived in Calgary my whole life, and been running businesses and programming since I was 10 years old. I’m a recent graduate of the University of Calgary in a business and computer science double major, and I currently manage the software team (6 students) at a small Calgary IoT startup. My past business experiences include running a window cleaning franchise across 6 communities, a popular concession stand, and a free web hosting service with over 10,000 clients.
I first got involved with cryptocurrency in 2017, when we had the big run up. Prior to that, I’d done a ton of research but never actually invested. While my losses in Quadriga are significant, they’re nowhere near some of the losses I’ve been hearing about. I’m fortunate to be in a “walk away” position if I so choose and I more or less did for the first week. But I couldn’t stay away. It isn’t right. Especially not now when the solution is so close and the potential impact is so significant.
Quadriga Initiative is the result of 6-7 months of on and off brainstorming, collaboration, and iteration around the central goal of recovering what's been lost.
The money is almost certainly not accessible. (I'm pretty sure it would have been found already.) We'll all get something from the bankruptcy, and I appreciate the legal team and official committee working hard on our behalf, but I fear it won't even come close to making up for what was lost. For many people - their whole life savings. It's not a very satisfying recovery. It doesn't leave anyone whole. It leaves a lot of people behind.
Without funds to pull from, any full recovery solution has to center around creating new value. Entrepreneurs and business leaders are creating value every day, and this is where the idea comes from.
We take advantage of the fact we have a large affected user community, tons of economic bargaining power, and a vast network. Many in the business community were affected, know someone who was affected, or feel horrible about what happened. My discussions with business leaders have shown that they generally desire to make this right, and businesses regularly do "goodwill" donations or gestures for marketing. The Quadriga Initiative provides a way businesses can help easily and in a "win win" way by running token-accepting promotions. We then provide a competitive framework that helps to promote businesses which make the biggest impact, highly incentivizing a faster recovery.
At this stage, everything is more or less ready. We have a primary exchange partner, a growing team of affected users, and multiple business connections. What remains is the incredibly tough challenge of creating trust and understanding among a community that's been completely devastated in the worst way. This is no easy task.
We need your help! If things don't make sense, or you still have questions, or you don't understand something, please take the time to ask and reach out! In addition to commenting here, please feel free to chat with us on Telegram: https://t.me/QuadrigaInitiative



Where Does the Money Come From?

The money (value) comes out of the profit margin of businesses. Businesses normally sell a product or service at a profit over the cost of production. Instead, a business would sell the product or service at a discount (less profit), accepting tokens in place of the difference.
While this may seem generous, like the business is giving something away, it also benefits the business as well:
Once a successful marketplace is established, affected users will have a multitude of businesses where they can spend tokens and get good deals. As well, other consumers can buy the tokens at a discount (supporting affected users), then use them to save money.
The leaderboard and large affected user community give a strong advantage to businesses to participate and offer the best deals. Businesses that have recovered the most are rewarded with more people seeing their promotion (free advertising).



The Various Uses For Tokens

Our Partner Exchange: Tokens will be tradable and accepted at face value towards the trading fees on the partner exchange. A trader who wants to save money on trades can stock up on the tokens to gain a discount over other customers who don't bother. The tokens can be used towards 50%-100% of the trading fees depending on the calendar date. This means a heavy discount for affected users and is essentially a price segment for the exchange.
In addition, the primary exchange partner we have is looking into giving back a small portion (15%) of gross trading revenue towards cashing tokens. This is done to incentivize the affected user community to spread the word about the exchange.
Participating Businesses: Businesses in the community accept the tokens towards purchases to promote to Quadriga victims, supporters, and deal seekers. It functions similar to a discount, where the tokens are applied as a portion of the sale price, with a few additional advantages for the business:
Businesses sell promotions for tokens, and send the tokens to a burn address that encodes the business website URL. To further encourage business participation, a leaderboard is set up to promote those businesses which have burned the most tokens. The leaderboard is a useful place to go shopping if you have tokens. You can find businesses who take them and get the best deals. All information is on the blockchain, enabling anyone to set up a leaderboard or start accepting tokens.



Token Flow Diagram

The linked diagram is a handy visualization of the initiative and how the various parties interact:
https://www.quadrigainitiative.com/Quadriga%20Initiative%20Diagram.pdf
The complete initiative is a full marketplace, enabling the beneficial (win win) interaction of all parties and the gradual recovery of losses over time. The token supply is finite, limited by the amount of losses we can verify, and all tokens eventually get cashed for $1 worth of products/services (or primary exchange gross trading revenue) as the program runs.


Our Primary Exchange Partner

Since the primary exchange is handling validation and distributing the tokens, it's important they be trustworthy. Given the history with Quadriga, most affected users (including every member of our team) are legitimately concerned about anyone losing their funds again. This is the primary reason we've selected to work with TxQuick.


Proof of Reserves and Why It Matters

In case you missed them, so far this year we've seen 3 large scale exchange collapses:
Each one represents massive losses for those involved - hundreds and thousands of affected lives. These are real people and families at the other ends, with hopes and dreams, who worked hard for their money.
In the case of QuadrigaCX, it took the freezing of the bank accounts, the death/disappearance of the CEO, and concerted legal action to even realize it was insolvent.
Exchanges can easily continue to operate for years with whatever level of reserves they like. Third party audits are riddled with holes like:
On top of that - most exchange platforms still don't even bother to audit. Despite the warnings about storing funds on exchanges, people still do. And remember that many affected users weren't storing funds on Quadriga - they simply got stuck with no way to withdraw.
Proof of Reserves asks exchanges to:
What it doesn't prevent:
What it does prevent:
Check this link for more details on Proof of Reserves, including the full hash tree algorithm.
Despite the relative simplicity of publishing wallet keys, the vast selection of exchanges we have in Canada, and the many millions of dollars stored, not a single exchange has done so. The hash tree algorithm has existed since 2014. It's presently on one exchange (last audited in 2014).
We feel that Proof of Reserves is key to preventing future exchange collapses, which is why we are so pleased to have a primary exchange partner which will be implementing the full algorithm. While we can't control other exchanges, traders now have an option to use an exchange which proves full backing of all deposits and we hope this will encourage wider adoption and greater industry transparency.


Timeline for the Initiative

The initiative process breaks down into roughly 3 stages:
Pre-Claim Stage - We are working to save affected user balances for later validation, as well as determine if there is sufficient interest in the project. This is ongoing.
Exchange Stage - We bring the primary exchange online, and process claims. Recovery starts through exchange trading fee discounts and eventually gross trading revenue. The exchange platform is expected to launch within a few months.
Marketplace Stage - Once we have enough individuals with tokens, we bring in the first businesses from the wider community. After we have several initial businesses, the marketplace grows organically as more businesses sign up over time. This is approximately a year after launching the exchange.
Full recovery (all losses) is likely to take multiple years, anywhere from 2 to 25 years. There are a lot of factors to consider.


Verification of Claims

Accurately capturing losses is key. Businesses are interested in helping honest victims of a crime who had their money stolen from them, and not too interested in supporting any fraud. We've been working hard to make our process as easy as possible for affected users, while being as hard as possible for false claims (claiming wrong amounts, losses of others, or fake claims).


How To Sign Up

If you wish to participate, please sign up at https://www.quadrigainitiative.com/.
You can do a pre-claim to save your balance, or an email only sign up just to show interest and get the launch email.



How You Can Help

We are stronger together!


Thanks so much!
submitted by azoundria2 to QuadrigaCX [link] [comments]

Creditors meeting notes from 20 March 2019

From https://www.mtgoxlegal.com/2019/03/21/creditors-meeting-notes-from-20-march-2019/

Creditors meeting notes from 20 March 2019

March 21, 2019Andy Pag
I attended the meeting with a whispering translator, who is up to date with the case and did a great job, so I feel I understood the meeting well.
There were about four creditors from the group who attended, and a few others creditors too. There were lots of lawyers too. One law firm sent a team of 5-6.
The first 35 minutes the trustee went through his report which you can see online. I thought he really took his time to explain the challenges we’re facing, and was more open and candid than he’s been in the past.
Acccounts: Cash and deposits: total 69.5B jpy. It has decreased by 120mJPY [about $1m since last meeting]. 15b JPY is in trust. [This is to guarantee the BK payout equality]
About 140K BTC and 140 BCH. He’s continuing to investigate the losses to see if there are any other recoveries.
He also acknowledged that there are Altcoins, and that creditors have the right to recoveries from the value they represent. [This is the first time he’s acknowledged this]
Self Assessment claims [Zombie claims] He explained that the CR statute is different from the BK statute in that it dictates the requirement to create claims for all those who may have a claim, even if they don’t come forward. He later listed the value of these. You can see them in Annex2 of his report. Never filed zombie claims are worth 89k BTC BK filed zombie claims are worth 44k BTC
Non exchange related claims There are 7 creditors filing claims unrelated to the exchange. He didn’t say it but these include Tibanne and Coinlab
[for background and not mentioned in the meeting, Tibanne’s claim relates to bitcoins owned by them which were being held in gox’s cold wallets. I’ve been told that typically BK claims between parent and child companies like this, are dismissed by the JP courts as a wash. 0 to everyone)
Checking your claim Online claim filers can check their filing online Offline claim filers will be emailed with the address they gave at time of filing. [more on this in the questions.]
Future process Both coinlab and tibanne have filed appeals against assessment [FYI the process is, you file a claim, trustee rejects it, you apply for reassessment (which is generally called “assessment” and the court rules on it. If it’s rejected you can go to litigation, with 2 rounds of appeal to higher courts.- that whole process would take several years]
Tibanne has filed for reassessment of their 82kBTC, Coinlab has filed for reassessment of their $16b
Exchange related claims are worth 802kBTC [note compare that to 799kbtc under BK, it’s almost that same ammount, so opening to refiling hasn’t diluted our share – not withstanding zombie claims which are not included in that 802k total.] This figure is open for review, up to the 29th of March, and creditors can file objections to these claims (both to approved ones, and rejected ones) before that date. [note this is what we are doing re zombie claims] In total 1085k btc claims were filed but only 802k were rejected. You can see the list at the court.
Decisions that are rejected under (re)assessment can file a petition with the court between 30march and 7 May. After that their claim has no more standing.
The trustee continues to investigat the theft but due to a scarcity of information he’s not built a full picture of what happens.
The US DoJ brought charges against Vinnik, Part of charges were that he obtained value from Mt Gox. Depending on outcome of that trial and investigation, there may be some recoveries.
Tibanne is in BK, It has rejected the claim made against it by the truestee of mt gox. And that claim is now under re(assessment).
MK is in BK, [not sure I understood this right]. Mt Gox claim against MK for 20m JPY, He was found not-guilty of fraud, but guilty of manipulation of records and has a suspended sentence.
Moving from BK to CR means he has had to inform outside jurisdictions that this has happend. [He kind of snuck this past everyone, but I think what this means that there are other stayed lawsuits against Mt Gox outside Japan, which can recomense again now, that Gox isn’t under BK protection. – I’ve heard not from a lawyer, that this could lead to other claims against the CR entity futher down the road.]
The deadline for the CR plan submission is April 26th, but due to coinlab and tibanne case, he will not meet this deadline. [more on this in the questions]
Questions Andy’s Qs: Is coinlab’s claim size an abuse of process – didn’t answer it specifically. Wada was in the room, and on record it’s not surprising, but I wanted to ask the question in front of the judge. I discussed this as a strategy with Sekido. I will follow up when I meat him on Friday in private. But what’s good about that is that he didn’t say no. The Trustee and Coinlab will make submissions to the court, and judgement in the coinlab case will come “as soon as possible” – no indication on that being days and weeks months years decades… Voting rights for coinlab. Part of assessing the claim is to asses the voting rights that go with that claim. Coinlab’s claim was rejected so got 0 voting rights. However creditors can apeal to the court to exercise their voting rights, so the court will decide. Coinlab’s claim is enormous so the court will decide, and there is a big question over how this will be handled. The process (CR plan filing) will be delayed until assessment is finished. I can’t say when we will have a report. [The way my notes read it sounds like they can file a CR plan after assessment while litigation goes on, but I got the impression in the meeting he meant that he can’t file CR until litigation is settled – I’ll check with Sekido and the Trustee about this] “I can’t say when we’ll have the report ready.”
How to voting will work. No decision yet, [this means they can’t confirm it yet but…] We have made the online system, I would like to use it. ultimately we have to get a decision on this from the court.
Communicating with creditors, he takes the point that the english comms are bad and will look at doing something better in future.
L. Flemming’s lawyer asked: about coinlab’s claim being partially approved. Chart has 6 rows for 7 creditors so that approved number doesn’t neccessarily apply to coinlab. It’s split by denomination. not claimant.
CR means reastart process. under BK already rejected coinlab. But we know substance of argument. Considered already under BK. This will speed things up. If the claimant not satisfied, they can bring trial proceedings, so hard to say when we will reach a conclusion. No clear date that we can give you. [this is the bit that makes me think they won’t start CR until Coinlab has been through the courts]
Another Q How to verify offline claims? Results by email. When? not yet sent? Is email going to claimant or to representative. Is there another way to verify outcome? Offline claims, can they not go online. It would be better if you verified all claims online. Answer: Working on email at the moment, issue shortly. Email address supplied by claimant. Website security is an issue. Because of that offline claims are staying offline. Under law, submitted outcome to court, go to court to get results
Fukuoka’s collegue Q. Self admitted claims. Breakdown – BK and non BK zombie claims. What you gonna do about it? Answer: Under CR proposal still assessing how to deal with this. Not yet come up with any policy. [A politicians answer, which I think is good. the fact that they’ve split these out, makes it easy for us to object. They are expecting our objection. I’ll be discussing BK zombies on friday]
Maurice lawyer: [This is J Maurice? aka Wiz, former partner in Wizsec] Do you Plan to establish an exchange, to make settlements, how are you thinking of distributing. Answer A plan is not finalised yet. But I’ll give you my understanding. While we have started CR, Gox is no longer in business, so I don’t think we’d be able to have that exchange adopted. So it comes down to how we distribute in cash or crypto. Crypto – we are not able to use blockchain to pay it out, (direct payments) so we would have to use an exchange to do that. Significance of using exchange is that it would involve creditors to sign up as users. We pay exchange, exchange distributes settlement, We would use the creditor account balance as a reciept for settlement.
Lawyer Q: on Cash or BTC? If you are liquidating more are you doing it the same way as before. Are you able do disclose method for liquidating. Answer If we decide we should sell btc, consult with court and use appropriate method. Still not decided.
Trustee asked for a show of hands, given the price drop from last meeting, on who want BTC and who wants him to sell. No hands for selling, lots of hands for BTC. [I think he’s getting it] he also said he would be using the online system to collect opinions on this again.
Judge: Next meeting 1st of October. 1h30pm. Same venue.
Andy Pag – These are my notes, which may contain errors and should not be used to base legal or financial decisions on. I am not a lawyer. This does not constitute legal advice.
submitted by andypagonthemove to mtgoxinsolvency [link] [comments]

Quadriga Initiative - Additional Information and Clarifications

Quadriga Initiative - Additional Information and Clarifications

Introduction / Summary

The Quadriga Initiative is an independent process where affected users and businesses in the community work together to recover losses from QuadrigaCX. An exchange (the primary exchange) will verify claims and distribute free tokens representing losses. Tokens will be accepted at the primary exchange and by participating businesses at face value. There is a white paper here with more detail:
https://quadrigainitiative.com/Quadriga%20Initiative.pdf
If you wish to participate in the Quadriga Initiative and receive free tokens representing your loss, there is a pre-claim process now open. A pre-claim uses your QCX client ID, first name as registered on the QCX platform, and a valid email address to copy your balance information and associate it with your email address.
https://quadrigainitiative.com/
Although a personal email will work, it is recommended for privacy and security to set up a new "forwarder" email account that doesn't personally identify you, with a unique password. Make sure that whatever email process you set up is one which still works to reach you in a few months time.
  • We are a community initiative which is not connected with the bankruptcy process. Participation does not impact your bankruptcy claim. You can find the official bankruptcy information on the Miller Thompson website.
  • We have taken all reasonable measures to protect our website and stored data against SQL injection. The website back-end is simple, all input is sanitized, and all access passwords are 16+ character full random. (I have a background in web hosting.)
  • There is no cost to participate and the pre-claim process takes approximately 3 minutes.
  • Please be sure to keep a copy of your bankruptcy claim paperwork for later validation!


Background on the Initiative

My name is Matt. I’ve lived in Calgary my whole life, and been running businesses and programming since I was 10 years old. I’m a recent graduate of the University of Calgary in a business and computer science double major, and I currently manage the software team (6 students) at a small Calgary IoT startup. My past business experiences include running a window cleaning franchise across 6 communities, a popular concession stand, and a free web hosting service with over 10,000 clients.
I first got involved with cryptocurrency in 2017, when we had the big run up. Prior to that, I’d done a ton of research but never actually invested. While my losses in Quadriga are significant, they’re nowhere near some of the losses I’ve been hearing about. I’m fortunate to be in a “walk away” position if I so choose and I more or less did for the first week. But I couldn’t stay away. It isn’t right. Especially not now when the solution is so close and the potential impact is so significant.
Quadriga Initiative is the result of 6-7 months of intense brainstorming, collaboration, and perpetual iteration around the central problem of how to recover what's been lost.
The money is almost certainly not accessible. (I'm pretty sure it would have been found already.) We'll all get something from the bankruptcy, but for most of us I fear it won't really make up for what was lost. For many people - their whole life savings. It's not a very satisfying recovery. It doesn't leave anyone whole. It leaves a lot of people behind.
Without funds to pull from, any full recovery solution has to center around creating new value. Entrepreneurs and business leaders are creating value every day, and this is where the idea comes from.
We take advantage of the fact we have a large affected user community, tons of economic bargaining power, and a vast network. Many in the business community were affected, know someone who was affected, or feel horrible about what happened. My discussions with business leaders have shown that they generally desire to make this right, and businesses regularly do "goodwill" donations or gestures for marketing. The Quadriga Initiative provides a way businesses can help easily and in a "win win" way by running token-accepting promotions. We then provide a competitive framework that helps to promote businesses which make the biggest impact, highly incentivizing a faster recovery.
At this stage, everything is more or less ready to launch. We have a primary exchange partner, a small team of affected users, and multiple business connections. What remains is the incredibly tough challenge of creating trust and understanding among a community that's been completely devastated in the worst way. This is no easy task.
We need your help! If things don't make sense, or you still have questions, or you don't understand something, please take the time to ask and reach out! In addition to commenting here, please feel free to chat with us on Telegram: https://t.me/QuadrigaInitiative



Where Does the Money Come From?

The money (value) comes out of the profit margin of businesses. Businesses normally sell a product or service at a profit over the cost of production. Instead, a business would sell the product or service at a discount (less profit), accepting tokens in place of the difference.
While this may seem generous, like the business is giving something away, it also benefits the business as well:
  • The business can get additional sales. Even though the profit per sale is less, the business still makes profit on those additional sales.
  • The business can find new customers. Even if a business sells a product or service "at cost" (meaning zero profit), they've established a relationship. The customer may buy other products or services in the future, or it could be part of a subscription.
  • The business is seen positively as "giving back", creating a better future, helping fraud victims, etc...
Once a successful marketplace is established, affected users will have a multitude of businesses where they can spend tokens and get good deals. As well, other consumers can buy the tokens at a discount (supporting affected users), then use them to save money.
The leaderboard and large affected user community give a strong advantage to businesses to participate and offer the best deals. Businesses that have recovered the most are rewarded with more people seeing their promotion (free advertising).



The Various Uses For Tokens

The Primary Exchange: Tokens will be tradable and accepted at face value towards the trading fees on the primary exchange. A trader who wants to save money on trades can stock up on the tokens to gain a discount over other customers who don't bother. The tokens can be used towards 50%-100% of the trading fees depending on the calendar date. This means a heavy discount for affected users and is more or less a price segment for the exchange.
In addition, the primary exchange partner we have at the moment is looking into giving back a small portion (15%) of gross trading revenue towards cashing tokens. This is done to incentivize the affected user community to spread the word about the exchange.
Participating Businesses: Businesses in the community accept the tokens towards purchases to promote to Quadriga victims, supporters, and deal seekers. It functions similar to a discount, where the tokens are applied as a portion of the sale price, with a few additional advantages for the business:
  • It price segments. The business doesn't lose revenue on customers who would have paid full price. With a 20% discount, the business loses revenue on some customers who would have bought anyway. Nobody likes to throw away free money.
  • It can run continuously. A 20% discount running continuously would mean the perceived value of the product would just be 20% less. A promotion accepting tokens can run long-term, enabling the business to attract more customers with less effort.
  • It's a give-back play, showing the business is caring about the wider community, and maybe has a larger agenda than pure profits. (ie Trying to create a better future.)
Businesses sell promotions for tokens, and send the tokens to a burn address that encodes the business website URL. To further encourage business participation, a leaderboard is set up to promote those businesses which have burned the most tokens. The leaderboard is a useful place to go shopping if you have tokens. You can find businesses who take them and get the best deals. All information is on the blockchain, enabling anyone to set up a leaderboard or start accepting tokens.



Token Flow Diagram

The following diagram is a handy visualization of the initiative and how the various parties interact:
Quadriga Initiative Diagram
The complete initiative is a full marketplace, enabling the beneficial (win win) interaction of all parties and the gradual recovery of losses over time. The token supply is finite, limited by the amount of losses we can verify, and all tokens eventually get cashed for $1 worth of products/services (or primary exchange gross trading revenue) as the program runs.


Our Primary Exchange Partner

Since the primary exchange is handling validation and distributing the tokens, it's important they be trustworthy. Given the history with Quadriga, most affected users (including every member of our team) are legitimately concerned about anyone losing their funds again. This is the primary reason we've selected to work with TxQuick.
  • TxQuick is being developed by Ethan Burnside, who has demonstrated his integrity in 2012-2013 when he ran BTC Trading Corp. When it was shut down, he spent significant personal funds to keep it running so everyone could get their money out - likely the only time in history that an exchange shut down and everyone got their funds. You can learn more about him from his post here.
  • We've had extensive discussions on Telegram about security. Ethan is open, transparent, and extremely knowledgeable. He has invested heavily in developing a system of secure multi-sig wallets. His previous exchange was never successfully hacked. If you have any questions, Ethan is happy to answer them!
  • Ethan is strongly in favour of publishing wallet public keys. The exchange will feature a full transparency page to allow anyone to see that all funds are fully backed. In the future, a full proof of reserves will be deployed to assure all customers that their balances are represented.
  • In addition to the token validation/verification function:
    • TxQuick will be the first platform to allow buying and selling of the tokens.
    • TxQuick proposes to accept the tokens at face value towards trading fees on the exchange. Affected users can use tokens to get free or discounted trading (50%+ off).
    • TxQuick will also handle a slow token payback, enabling tokens to be exchanged 1:1 for cash over time using 15% of gross trading revenue.
  • This proposal is subject to approval by the TxQuick board. It could be changed. There is a necessary interest level from the affected user community of at least 1,000 sign-ups.
  • While it might seem like Ethan is being super generous and giving a lot away for free, again this is mutually beneficial (win win). Here are some of the benefits to the primary exchange:
    • Lots of sign-ups from affected users and, later, interested consumers, many of whom will stay to use the platform. Ethan desires to achieve a dominant position in the Canadian marketplace.
    • The token program provides an effective price segment, increasing revenue over time. (Low prices = lost profit, high prices = less customers, price segment = more profit and customers.)
    • Customers with recovered funds are likely to be more loyal and prefer the platform, and the profit share incentivizes spreading the word about the platform. (Interests are aligned.)
  • It is not required to use the primary exchange platform for trading or deposit any money. You are free to sign up, receive your free tokens, and continue trading on any other platform or just use the marketplace.


Proof of Reserves and Why It Matters

In case you missed them, so far this year we've seen 3 large scale exchange collapses:
  • QuadrigaCX
  • EZ-BTC
  • Cryptopia
Each one represents massive losses for those involved - hundreds and thousands of affected lives. These are real people and families at the other ends, with hopes and dreams, who worked hard for their money.
In the case of QuadrigaCX, it took the freezing of the bank accounts, the death/disappearance of the CEO, and concerted legal action to even realize it was insolvent.
Exchanges can easily continue to operate for years with whatever level of reserves they like. Third party audits are riddled with holes like:
  • How can they possibly know the client list they're given is legitimate and fully inclusive?
  • How can you know the funds weren't borrowed for the audit purposes?
  • How old is the report? How can you trust the auditor?
On top of that - most exchange platforms still don't even bother to audit. Despite the warnings about storing funds on exchanges, people still do. And remember that many affected users weren't storing funds on Quadriga - they simply got stuck with no way to withdraw.
Proof of Reserves asks exchanges to:
  • Publish the wallet public keys so people can see that funds are fully backed. (A satoshi test can prove ownership of those wallets.)
  • Publish a hash tree to let each customer validate that their balance is included in the total.
What it doesn't prevent:
  • Same as presently, if funds are not secured in proper multi-sig wallets or multiple exchange operators are corrupt, the funds could still be taken, up to what's stored. However, this would be immediately known to everyone instead of revealed whenever admins felt like it (or never).
  • The balances of customers who never check the hash tree could be excluded by a dishonest exchange, which wouldn't be noticed until one of those customers decided to check.
  • A dishonest exchange could still dispute the balance of a customer or arbitrarily prevent withdrawals. In this case, the customer and exchange would have to sort that out.
  • A dishonest exchange could pretend to own wallets it doesn't. A satoshi test would help with this, where the exchange operators send a small amount at a specified time.
  • While it makes things safer, it's still not a good idea to store funds on the exchange.
What it does prevent:
  • The exchange owner can't spend funds of active customers, and still claim to hold them.
    • ie QuadrigaCX, EZ-BTC
  • The exchange owner can't conceal if funds are hacked or stolen. It becomes known immediately.
    • ie Mt. Gox, Cryptopia
  • Anyone can see if the exchange is solvent before trading.
    • ie Anyone with "bad timing" using an insolvent exchange.
Check this link for more details on Proof of Reserves, including the full hash tree algorithm.
Despite the relative simplicity of publishing wallet keys, the vast selection of exchanges we have in Canada, and the many millions of dollars stored, not a single exchange has done so. The hash tree algorithm has existed since 2014. It's presently on one exchange (last audited in 2014).
We feel that Proof of Reserves is the key to preventing future exchange collapses, which is why we are so pleased to have a primary exchange partner which will be implementing the full algorithm. While we can't control other exchanges, traders now have an option to use an exchange which proves full backing of all deposits and we hope this will encourage wider adoption and greater industry transparency.


Timeline for the Initiative

The initiative process breaks down into roughly 3 stages:
Pre-Claim Stage - We are working to save affected user balances for later validation, as well as determine if there is sufficient interest in the project. This is ongoing.
Exchange Stage - We bring the primary exchange online, and process claims. Recovery starts through exchange trading fee discounts and eventually gross trading revenue. The exchange platform is expected to launch within a few months.
Marketplace Stage - Once we have enough individuals with tokens, we bring in the first businesses from the wider community. After we have several initial businesses, the marketplace grows organically as more businesses sign up over time. This is approximately a year after launching the exchange.
Full recovery (all losses) is likely to take multiple years, anywhere from 3 to 25 years. My best estimate would be 10 years, although there are a lot of factors to consider.


Verification of Claims

Accurately capturing losses is key. Businesses are interested in helping honest victims of a crime who had their money stolen from them, and not that interested in supporting any fraud. We've been working hard to make our process as easy as possible for affected users, while being as hard as possible for false claims (claiming wrong amounts, losses of others, or fake claims).
  • Our ideal verification is based on:
  • If we don't have all the information, or there are problems, claims may be limited or rejected. This is at our full discretion, along with our primary exchange partner.
  • The user balance website is available to confirm balances for a limited time. It could go offline as early as August 31st. Once it goes offline, pre-claims will no longer be possible. As no list of claimants is being published through the bankruptcy, and paperwork can easily be manipulated, larger balances will then have to be validated through the courts.
  • Anyone with a balance on Quadriga can create a pre-claim by providing:
    • Client ID and first name for the purposes of saving the total which you had.
    • An email address for a future launch announcement (which can be a forwarder).


How To Sign Up

If you wish to participate, please sign up at https://www.quadrigainitiative.com/.
You can do a pre-claim to save your balance, or an email only sign up just to show interest and get the launch email.

  • We are a community initiative which is not connected with the bankruptcy process. Participation does not impact your bankruptcy claim. You can find the official bankruptcy information on the Miller Thompson website.
  • We have taken all reasonable measures to protect our website and stored data against SQL injection. The website back-end is simple, all input is sanitized, and all access passwords are 16+ character full random. (I have a background in web hosting.)
  • There is no cost to participate and the pre-claim process takes approximately 3 minutes.
  • Please be sure to keep a copy of your bankruptcy claim paperwork for later validation!


How You Can Help

We are stronger together!
  • Get yourself to a solid level of understanding of what we are doing by asking any questions or giving any feedback if anything doesn't make sense. This is the biggest thing!
  • Send in your pre-claim or do an email-only signup. (Every sign-up helps show interest.)
  • Upvote.
  • Share on social media.
  • Let us know your ideas/thoughts!
  • Join our Telegram group. Come meet our team!
  • Help us get the word out. Tell your friends.


Thanks so much!
submitted by azoundria2 to BitcoinCA [link] [comments]

Some food for thought for new crypto investors

I'm in the crypto game since end of May and I have invested in several cryptos, made a lot of newbie mistakes, made some money but mainly learned a LOT about investment strategies.
Crypto currencies investment is very specific and trading techniques don't really apply here. If you don't prepare yourself and educate yourself before investing, you will probably lose money or end up bagholding for a while.
It takes time to do your own research, understand the mechanics to be able to invest wisely and optimize your profit.
Here is a compilation of the rules I learned and I'm forcing myself to follow to avoid the common pitfalls.
Feel free to comment and add more rules if you have any. I will edit this post if I can recall some more later on and based on your feedbacks.
This is by far the only rule that you should have in mind anytime you invest money in something. And this especially applies to crypto which is more volatile than anything you could have invested in so far.
Don't ever take a loan or lend money to buy crypto, don't invest all your life savings or money you need for your daily life.
Before investing in any coin, take enough time to thoroughly read as much as you can from existing documentation, whitepapers, posts, blogs,... Understanding what you are investing your money in is absolutely key to success.
Don't trust anyone, be critical and don't take any news, rumors or investing advice at face value. Subreddits, blogs, YouTube,.. are full of people shilling, fuding, and lying about cryptos to manipulate the price for their profit. Cross-check reading, facts checking and asking questions are your best friends and will help you debunk fake information.
It's good to believe in a project but if you get too emotional it may blind you to hodl when it's time to sell and cut your losses, or to buy at ATH.
Right now, most of the crypto projects are over speculated and overvalued. Most of them will fail and their token price will probably fall down to 0. Some projects are more mature and are less risky than others. Usually their token is already priced in so they are good for long term investment, because the price will likely raise more steadily.
But most people will want to invest in more risky coins to get more reward. "Fortune goes to the bold" they say. If you go that way, you will invest in projects with merely a working product, and most of the time only a single whitepaper. Whatever extraordinary and awesome the promises these projects hold, the rise of the price will only be driven by speculation at this point so don't get too fanatic about it. You definitely will want to get out if you feel that the fundamentals have changed so set your objectives and exit strategy before investing.
You will experience FOMO many times and will be tempted to buy during a pump and you will probably end up buying at ATH. Pumps are usually followed by a dump or correction. Sometimes the dip is temporary if you get lucky, but most of the times it's not. So you can end up bagholding until it pumps again.
Buying at the right time is the most difficult thing to do in crypto and timing the market is almost impossible.
You will see a lot of people providing trading technical analysis and trying to predict the next price movement. Sometimes these predictions will be realized but most of the times they won't.
Crypto markets are overly manipulated and it's difficult to predict prices when whales and bots are acting behind the scenes.
If you believe in the future of a coin on the rise, remember that "the best time to buy it was yesterday and the second best time is now". If the price goes x10 or more in a year or 2, it won't matter if you bought it at a price 20% higher back then.
However, if you can, be sure to always have some funds available to buy the dip. It will help you accumulate more hence making more profit when price will rise.
It will most of the time be better to buy regularly a smaller but constant amount rather than one big chunk at once. This is a proven investment strategy that will pay off in the long term.
Similarly, you can also average buy during a price dip to avoid missing the bottom that can be directly followed by a recovery.
Plan your strategy, set your selling price/ target profit % before buying anything and stick to it.
You will often be tempted to keep holding your coin during a pump rally, beecause heck, why should you sell when your coin keeps going up?
First, it won't last forever and every pump is always followed by a price correction.
Second, if you don't take some profit at some point, you take the risk to get no profit at all if you miss the ATH and end up stuck in the dump with a price below your buy price.
It's better to sell a chunk of your holdings to secure some profit and keep the other chunk to stay in the game for longer term
Always set stop limit sell to avoid being caught in a dump and forced bagholding until price recovers. Recovery can take days, or months or it can never happen...
Depending on your strategy, and your aversion to risk, it is often wiser to not invest in only one single crypto unless you only want to hold btc.
Choose coins that fill different niches and serve real purpose by solving a genuine problem. Follow rule #1 to make your choices.
Hodl = hold (you will learn about this meme soon enough when you have read enough sub posts)
If you are not day trading, your strategy will consist of either buying and holding coins for long term, or buying undervalued coins to sell part or all of them after price has gained xx %.
So the question is: is it a better strategy to just hodl coins and wait or being an active trader and leverage the fluctuations between altcoins and btc or ETH to optimize your profit?
You will get different answers to this question from people depending of their own experience and belief.
When I started investing, I had convictions and faith in some coins that I was planning to hold for very long term. For some of them, it still apply as of today and I'm still holding them because I have enough confidence about their future. But from a pure investment and profit perspective, having too much faith in a coin is not that good of a strategy.
From my experience, in the end the only coin to really hold is BTC, at least for now. As you will experience yourself, altcoins and btc prices are correlated but fluctuations of both depend of many factors.
Usually, when money flows to btc, and btc price rallies, altcoins prices are falling because people are selling their altcoins to buy BTC. This is especially true when a fork is planned few weeks ahead for instance because people wants to get free coins hence free money. It's basic human psychology
Several times I've been caught by these btc rallies and ended up bagholding altcoins because of people switching to btc. That's why it's important to regularly take your profit and convert back to btc, so you don't end up missing out btc price rally. Numerous times I've been experiencing this, and regreted not having converted back my stake to btc earlier because in the end it was more profitable to hold btc rather than my altcoins.
Of course, what I have described above is not always what is happening. You might see altcoins rally up while btc price is rallying as well. Staying well informed and up to date about the coins you are watching is important to be able to make good decisions and catch the pumps that can be more profitable than just holding btc.
One thing to consider also is that although BTC can be seen as outdated or obsolete features-wise for some, currently you can't workaround it if you want to buy crypto and basically make money. There are not many cryptos besides BTC, LTC or ETH that you can use to buy other cryptos. On most exchanges these are the only ones paired to altcoins so you need to trade for them first or buy them with your fiat money before being able to buy altcoins. Also when you'll want to cash out you will need to convert your altcoins to btc first and then sell your BTC. This is not the case on all exchanges and more cryptos pairs are being added over time.
But until more altcoins become as compulsory and compelling as BTC, you need to stay focus on one single objective when you trade or hold tokens: increase your BTC stake. The fiat price of altcoins are for most of them calculated from their price against BTC. To be clearer, If BTC price rallies up and your altcoin price stays the same, you are basically losing money, or to be more exact, your investment would be better if it was in BTC instead of your altcoin.
You know, when I started investing I was very confident about the future of other blockchains and cryptocurrencies that would eventually take over BTC that I was considering obsolete at that time. But after some time, I understood that despite all its flaws, all the hard forks drama, BTC is still there, and is very resilient to all the FUD and attacks towards it.
I'm still convinced that there are many cryptos that do things better than BTC, that PoW is not ideal, etc... But here's the catch: crypto space is large enough to have competing blockchains that fill a gap or a niche left by others. In this perspective, I can still see BTC relevant as a store of value. I don't think it will stay that way for ever, and maybe direct bitcoin competitors will take over in the future, but right now, tbh, BTC has never been stronger. Just look at the price...
Crypto exchanges are not secure despite all the security measures put in place. Hackers know there is something to be stolen so they will do everything they can to find exploits to get those precious tokens stored in those exchanges. Many hacks have been successfully made so far (Mt. Gox, Bitfinex, e-btc,..) and a lot of people have lost their tokens. I'm not even counting all the scams and fake websites that exploit users carelessness to stole their private keys and tokens. Nowadays, some exchanges security has been improved to avoid these massive hacks, and tokens staked are usually stored in cold storage not connected to the network. Only tokens traded are stored temporarily on hot wallets.
Another thing to consider is that when you store your tokens on an exchange, you don't hold the private keys of your wallets. The only thing you have is an IOU from the exchange when you will want to trade or withdraw your tokens. In case of a hack and tokens theft, you have no guarantee that the exchange will compensate you.
Some exchanges are more reputable than others but most of them at least have enforced users to enable 2FA authentication, which is a bare minimum. I STRONGLY advise to use only TOTP-based or similar application for 2FA and NEVER use 2FA with SMS. Especially if you live in the US. It is far too easy to get your personal information from social networks and impersonate you to make a phone operator migrate your number to the phone of a hacker.
Many people will say to never leave anything on exchange. I think this mainly apply if you want to hold for long term and never trade. Unless you transfer large sums and don't care about transfer time and withdrawal fees, it can get quite painful to go back and forth from your wallets to the exchanges, especially if you hold many different cryptos. So if you plan to trade from time to time, you can leave enough on the exchanges to make these trades and keep your main holdings safely on your hardware, software or paper wallets. When you're done trading for a while, transfer back your tokens to your wallet. Also, it could be wiser to split your tokens and store them across different exchanges so you split the risk of losing everything in case of a hack.
Note for newbies: when you start trading the first time and buy your first tokens for a modest sum, it's probably safer to let your tokens on the exchange until you get enough knowledge about wallets and know what you are doing. I witnessed numerous times people losing their private keys or password hence their tokens, because they forgot where they were stored or their hard-drive crashed, or they couldn't remember their password or lost their private key seeds.
You need to be very careful with your wallet so you need to learn how it works, the address, the fees, how to do multiple backups of your keys, etc.... Until then, and if you don't mind losing the tokens and money in case of a hack, then it's probably safer to keep them in a reliable exchange. You can be your own enemy sometimes...
When you will be experienced enough about wallets, the most reliable and secure option is to store your tokens in a hardware wallet such as Ledger or Trezor.
Edit1: added another Rule about exchanges and wallet. Than you for your feedbacks!!
Edit2: added a more detailed opinion about btc and why it is important to hold it, at least for now.
submitted by saucesacla to CryptoCurrency [link] [comments]

Daily analysis of cryptocurrencies 20191016(Market index 40 — Fear state)

Daily analysis of cryptocurrencies 20191016(Market index 40 — Fear state)

https://preview.redd.it/58bwse6lwvs31.jpg?width=1200&format=pjpg&auto=webp&s=e6f8fed2319f4afbc85fad586908bdbc950baf19

NBA-China Scandal Crashes Nike Sneaker-Backed Crypto Token Price As Reuters reports on Oct. 16, an anonymous trader’s Weibo post from earlier this month had shone a spotlight on an apparent 10% crash in the price of crypto tokens backed by Nike’s Air Jordan sneakers on 55.com, a United States-based exchange. “It’s clear sneaker speculators were pulling money out of the market,” the trader told Reuters. He interpreted the market response in the context of Chinese netizens’ anger over a now-notorious tweet from Houston Rockets general manager Daryl Morey, in which he declared solidarity with anti-government, anti-Beijing protesters in Hong Kong.
Foxconn Founder: Libra Can ‘Converge’ With China’s Digital Currency In Taiwan Terry Gou, Taiwan’s richest man and the founder of manufacturing giant Foxconn, wants the island to roll out the red carpet for Facebook’s Libra cryptocurrency project. In a recent, little-noticed speech, the billionaire and one-time presidential candidate said Taiwan could boost its status as an international financial hub by embracing Libra, rather than approaching the project with skepticism as other governments have done. Gou also suggested the island could connect Libra, if and when it launches, with the digital currency being developed by the People’s Bank of China.
Ex-CFTC Chairman Proposes Digital Dollar, A Government-Sanctioned Blockchain Protocol Former Commodity Futures Trading Commission (CFTC) chairman Christopher Giancarlo, who had parted ways with the regulator this summer, published an article, named “We Sent a Man to the Moon. We Can Send the Dollar to Cyberspace,” stating that Washington should edge out rivals with a regulated platform for trading greenbacks via blockchain. “We propose a digital dollar — a government-sanctioned blockchain protocol, created and maintained by an independent nongovernmental group but administered by banks and other trusted payment organizations,” his words read.
SEC Restarts Clock On Proposed ‘Bitcoin and T-Bills’ ETF According to a public filing published on Oct 15, investment management firm Wilshire Phoenix and NYSE Arca filed an amendment to their ETF proposal earlier this month to address issuance and redemption for the securities and the listing trading of the fund’s shares. Coinbase Custody will act as the custodian for the bitcoin held by the trust, according to the filing. The notice of Oct 15 says Coinbase will provide attestations confirming the amount of Bitcoin it holds within five business days of the trust’s monthly rebalancing, adding a detail not present in the original filing.

Encrypted project calendar(October 16, 2019)

BTC/Bitcoin: The 2019 Blockchain Life Summit will be held in Moscow, Russia from October 16th to 17th. MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on the theme of “Technology Problem Solving and Testing IoT Devices” at the University of Southern California in Los Angeles on October 16. ETH/Ethereum: Ethereum launches Istanbul (Istanbul) main network upgrade, this main network upgrade involves 6 code upgrades. QTUM/Qtum: Qtum (QTUM) Qtum main network hard fork is scheduled for October 16. (CRYPTO): and 1 other 16 October 2019 Supply Chains Unblocked Supply Chains Unblocked in London from 9:30 AM — 6 PM. Binance Coin (BNB): 16 October 2019 Singapore Meetup “Bring your friends to come along with, & it will be FUN! With snacks and drinks.” IoTeX (IOTX): 16 October 2019 Mainet Beta “The next evolution of IoTeX blockchain, secure IoT hardware, and decentralized identity is coming October 16 — mark your calendars.” Selfkey (KEY): 16 October 2019 Corporate Wallet Release “Soon, wallet users will be able to manage corporate profiles and identity attributes.” Cardano (ADA): 16 October 2019 Washington D.C. Meetup “Nathan Kaiser, Chairperson of the Cardano Foundation, will join the community in Washington DC on Oct 16, and talk about the recent

Encrypted project calendar(October 17, 2019)

Holo (HOT): 17 October 2019 Redgrid AMA “Join us for the AMA with RedGrid on October 17th. Submit your questions before the AMA on our Holochain Dev Forum.” IOST (IOST): 17 October 2019 Breeding Competition Ends “Join IOST 2nd Breeding Competition by @FishChainGame now! The competition only lasts till 17 Oct” Aragon (ANT): 17 October 2019 Seoul Meetup “You are invited to join @licuende for a meetup and presentation on ‘Aragon and DAOs: What’s next after ICOs and DeFi?’” Skycoin (SKY): 17 October 2019 NYC Skywire Meetup NYC Skywire Mainnet Meetup in NYC from 6–8 PM. Horizen (ZEN): 17 October 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA. AE/Aeternity: Aeternity (AE), held by members of the DCARPE Alliance, will be held in New York on October 17. PYC/Privacy Chian: The Privacy Chian (PYC) BiKi platform will open the PYC recharge and withdrawal at 15:00 on October 17th and open the PYC/USDT trading pair transaction on October 18th at 5:00. FBT/Fanbi: Fanbi (FBT) BKEX Global will launch FBT on October 17, 2019, Singapore at 15:00, open trading pair: FBT/USDT. MFCC/Marsfarmer: Marsfarmer (MFCC) CoinW will start MFCC recharge on October 15th from 16:00 to October 17th at 16:00, and officially open MFCC/CNYT transaction in potential area on October 17th at 16:00. GT/Gatechain Token: The Gatechain Token (GT) GateChain test network will be released on October 17.

Encrypted project calendar(October 18, 2019)

BTC/Bitcoin: The SEC will give a pass on the VanEck/SolidX ETF on October 18th and make a final decision HB/HeartBout: HeartBout (HB) will officially release the Android version of the HeartBout app on October 18. OKB (OKB): 18 October 2019 Rotterdam Meetup “Meet us in Rotterdam on 18 Oct as we partner up with Crypto010 Meetup to bring you a talk on ‘Decentralized Finance’.” HeartBout (HB): 18 October 2019 Android Version “18th of October 2019 will be officially released Android version of HeartBout app.” BTU Protocol (BTU): and 2 others 18 October 2019 Paris Blockchain Summit The event will gather major international key players of the Blockchain ecosystem including well-known influencers, investors, government. YDS/YDS Blockchain: YDS Blockchain (YDS) ZG.COM will open YDS’s currency and coin transfer business at 14:00 on October 18th, and open the YDS/USDT transaction pair at 19:00 on October 19th. BTU/BTU Protocol: The BTU Protocol (BTU) Paris Block Summit will be held on October 18. EWS/EWS Token: EWS Token (EWS) EXX will open the EWS recharge business at 10:18 on October 15th, Hong Kong time. It is expected to open the EWS/ETH trading market at 10:18 on October 18, Hong Kong time. SIN/SIN Token: The SIN Token (SIN) BiKi platform will open SIN’s recharge and withdrawal at 18:00 on October 18th, and open the SIN/USDT trading pair transaction on October 21st at 5:00.

Encrypted project calendar(October 19, 2019)

PI/PCHAIN Network: The PCHAIN (PI) backbone (Phase 5, 82 nodes, 164, 023, 802 $ PI, 7 candidates) will begin on October 19. LINK/ChainLink: Diffusion 2019 will be held in Berlin, Germany from October 19th to 20th DeepBrain Chain (DBC): 19 October 2019 (or earlier) Deploy Main Chain “Deploy Main Chain,” during the third week of October. General Event (CRYPTO): and 1 other 19 October 2019 Free State Blockchain “This “unconference” style event brings together some of the top financial tech innovators, researchers, company leaders, and other…” PCHAIN (PI): 19 October 2019 Main Chain Voting “Main chain: Epoch 5, 82 nodes, 164,023,802 $PI, 7 Candidates, voting will start on Oct. 19th.” Nash Exchange (NEX): 19 October 2019 Nash Anniversary Nash will present their work from the third quarter of 2019. Team members will be present and to answer your questions in person.

Encrypted project calendar(October 20, 2019)

GameCredits (GAME): 20 October 2019 (or earlier) Mining Reward Drop GameCredits mining reward will be cut in half at block 2519999 (~October 20). This will be the 4th halvening of the GAME mining reward! Aeternity (AE): 20 October 2019 Starfleet 3 App Deadline #Starfleet3 is happening in Malta and you have by October 20th to apply! FN/IPFS&Filenet: IPFS&Filenet (FN) will be launched on the UP project Filenet (FN). The UP subscription time is from 14:00 on October 20, 2019 to 18:00 on October 20, 2019.

Encrypted project calendar(October 21, 2019)

KNC/Kyber Network: The official online hackathon of the Kyber Network (KNC) project will end on October 21st, with more than $42,000 in prize money. Horizen (ZEN): 21 October 2019 Sidechains Alpha Release Horizen releasing the alpha version of industry first decentralized and unfederated sidechains. Horizen (ZEN): 21 October 2019 Updated Whitepaper Horizen releasing an updated whitepaper. Kuverit (KUV) : IDAX will list #Kuverit (KUV) and open trading for KUV/BTC trading pair. is going to be listed on 21 Oct, at 10:00 am (UTC+8).

Encrypted project calendar(October 22, 2019)

ZRX/0x: The 0x protocol (ZRX) Pantera blockchain summit will be held on October 22. Locus Chain (LOCUS): 22 October 2019 Public Test Begins Public test runs for three days from October 22nd to October 24th.

Encrypted project calendar(October 23, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 23rd at the University of Southern California in Los Angeles with the theme “Connecting the I3 Market and Experiencing Purchase and Sales Data.” BTC/Bitcoin: The WBS World Blockchain Summit (Middle East) will be held in Dubai from October 23rd to 24th. Cardano (ADA) and 1 other: 23 October 2019 WBS Dubai “One of a kind gathering of 500+ curated & pre-qualified investors, CEOs, CIOs, CTOs, Heads of Blockchain, Chief Digital Officers CloakCoin (CLOAK): 23 October 2019 (or earlier) CloakCoin Competition “CloakCoin competition : solve the CloakCoin ENIGMA transaction, 3rd round.” Loom Network (LOOM): 23 October 2019 Singapore Meetup “Unstack the Stack Series: Loom Network” from 6:30–8:30 PM (SST).

Encrypted project calendar(October 24, 2019)

BCN/Bytecoin: Bytecoin (BCN) released the hidden amount of the Bytecoin block network on October 24. Horizen (ZEN): 24 October 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.

Encrypted project calendar(October 25, 2019)

ADA/Cardano: Cardano (ADA) The Ada community will host a community gathering in the Dominican Republic for the first time on October 25.

Encrypted project calendar(October 26, 2019)

KAT/Kambria: Kambria (KAT) Kambria will host the 2019 Southern California Artificial Intelligence and Data Science Conference in Los Angeles on October 26th with IDEAS. BTC/Bitcoin: CoinAgenda Global Summit will be held in Las Vegas from October 26th to 28th

Encrypted project calendar(October 28, 2019)

LTC/Litecoin: Litecoin (LTC) 2019 Litecoin Summit will be held from October 28th to October 29th in Las Vegas, USA BTC/Bitcoin: Mt.Gox changes the debt compensation plan submission deadline to October 28 ZEC/Zcash: Zcash (ZEC) will activate the Blossom Agreement on October 28th

Encrypted project calendar(October 29, 2019)

BTC/Bitcoin: The 2nd World Encryption Conference (WCC) will be held in Las Vegas from October 29th to 31st.

Encrypted project calendar(October 30, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 30th at the University of Southern California in Los Angeles on the topic “How to store data on IOTA Tangle.”

Encrypted project calendar(November 1, 2019)

INS/Insolar: The Insolar (INS) Insolar wallet and the redesigned Insolar Block Explorer will be operational on November 1, 2019.

Encrypted project calendar(November 6, 2019)

STEEM/Steem: The Steem (STEEM) SteemFest 4 conference will be held in Bangkok from November 6th to 10th.

Encrypted project calendar(November 8, 2019)

BTC/Bitcoin: The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th.

Encrypted project calendar(November 9, 2019)

CENNZ/Centrality: Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland.
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Yesterday, we discussed the chances of a possible rebound in bitcoin if it breaks the $8,400 resistance against the US Dollar. However, BTC price struggled to climb above the $8,400 resistance area. As a result, there was a fresh decline below the $8,300 level. Moreover, there was a break below the key $8,200 support area and the 100 hourly simple moving average.
Finally, the price traded below the $8,100 level and formed a new weekly low near $8,062. It is currently consolidating losses above the $8,100 level. Besides, it traded above the 23.6% Fib retracement level of the recent decline from the $8,386 high to $8,062 low. An immediate resistance is near the $8,200 level (the recent key support). The next resistance is near the $8,220 level and the 50% Fib retracement level of the recent decline from the $8,386 high to $8,062 low.
However, the main resistance for bitcoin is near the $8,300 level and the 100 hourly SMA. Furthermore, there is a key declining channel forming with resistance near $8,350 on the hourly chart of the BTC/USD pair. Therefore, a successful break above the channel resistance and a follow through above $8,400 is must for a decent recovery in the near term.
On the downside, there are not many supports up to $8,000. If the bears gain strength, they may perhaps succeed in clearing the $8,000 support area. The next major support is near the $7,800 level, below which the price is likely to head towards the $7,500 zone.
Review previous articles: https://medium.com/@to.liuwen

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A Beginners Guide to Bitcoin, Blockchain & Cryptocurrency

As cryptocurrency, and blockchain technology become more abundant throughout our society, it’s important to understand the inner workings of this technology, especially if you plan to use cryptocurrency as an investment vehicle. If you’re new to the crypto-sphere, learning about Bitcoin makes it much easier to understand other cryptocurrencies as many other altcoins' technologies are borrowed directly from Bitcoin.
Bitcoin is one of those things that you look into only to discover you have more questions than answers, and right as you’re starting to wrap your head around the technology; you discover the fact that Bitcoin has six other variants (forks), the amount of politics at hand, or that there are over a thousand different cryptocurrencies just as complex if not even more complex than Bitcoin.
We are currently in the infancy of blockchain technology and the effects of this technology will be as profound as the internet. This isn’t something that’s just going to fade away into history as you may have been led to believe. I believe this is something that will become an integral part of our society, eventually embedded within our technology. If you’re a crypto-newbie, be glad that you're relatively early to the industry. I hope this post will put you on the fast-track to understanding Bitcoin, blockchain, and how a large percentage of cryptocurrencies work.

Community Terminology

Altcoin: Short for alternative coin. There are over 1,000 different cryptocurrencies. You’re probably most familiar with Bitcoin. Anything that isn’t Bitcoin is generally referred to as an altcoin.
HODL: Misspelling of hold. Dank meme accidentally started by this dude. Hodlers are much more interested in long term gains rather than playing the risky game of trying to time the market.
TO THE MOON: When a cryptocurrency’s price rapidly increases. A major price spike of over 1,000% can look like it’s blasting off to the moon. Just be sure you’re wearing your seatbelt when it comes crashing down.
FUD: Fear. Uncertainty. Doubt.
FOMO: Fear of missing out.
Bull Run: Financial term used to describe a rising market.
Bear Run: Financial term used to describe a falling market.

What Is Bitcoin?

Bitcoin (BTC) is a decentralized digital currency that uses cryptography to secure and ensure validity of transactions within the network. Hence the term crypto-currency. Decentralization is a key aspect of Bitcoin. There is no CEO of Bitcoin or central authoritative government in control of the currency. The currency is ran and operated by the people, for the people. One of the main development teams behind Bitcoin is blockstream.
Bitcoin is a product of blockchain technology. Blockchain is what allows for the security and decentralization of Bitcoin. To understand Bitcoin and other cryptocurrencies, you must understand to some degree, blockchain. This can get extremely technical the further down the rabbit hole you go, and because this is technically a beginners guide, I’m going to try and simplify to the best of my ability and provide resources for further technical reading.

A Brief History

Bitcoin was created by Satoshi Nakamoto. The identity of Nakamoto is unknown. The idea of Bitcoin was first introduced in 2008 when Nakamoto released the Bitcoin white paper - Bitcoin: A Peer-to-Peer Electronic Cash System. Later, in January 2009, Nakamoto announced the Bitcoin software and the Bitcoin network officially began.
I should also mention that the smallest unit of a Bitcoin is called a Satoshi. 1 BTC = 100,000,000 Satoshis. When purchasing Bitcoin, you don’t actually need to purchase an entire coin. Bitcoin is divisible, so you can purchase any amount greater than 1 Satoshi (0.00000001 BTC).

What Is Blockchain?

Blockchain is a distributed ledger, a distributed collection of accounts. What is being accounted for depends on the use-case of the blockchain itself. In the case of Bitcoin, what is being accounted for is financial transactions.
The first block in a blockchain is referred to as the genesis block. A block is an aggregate of data. Blocks are also discovered through a process known as mining (more on this later). Each block is cryptographically signed by the previous block in the chain and visualizing this would look something akin to a chain of blocks, hence the term, blockchain.
For more information regarding blockchain I’ve provided more resouces below:

What is Bitcoin Mining

Bitcoin mining is one solution to the double spend problem. Bitcoin mining is how transactions are placed into blocks and added onto the blockchain. This is done to ensure proof of work, where computational power is staked in order to solve what is essentially a puzzle. If you solve the puzzle correctly, you are rewarded Bitcoin in the form of transaction fees, and the predetermined block reward. The Bitcoin given during a block reward is also the only way new Bitcoin can be introduced into the economy. With a halving event occurring roughly every 4 years, it is estimated that the last Bitcoin block will be mined in the year 2,140. (See What is Block Reward below for more info).
Mining is one of those aspects of Bitcoin that can get extremely technical and more complicated the further down the rabbit hole you go. An entire website could be created (and many have) dedicated solely to information regarding Bitcoin mining. The small paragraph above is meant to briefly expose you to the function of mining and the role it plays within the ecosystem. It doesn’t even scratch the surface regarding the topic.

How do you Purchase Bitcoin?

The most popular way to purchase Bitcoin through is through an online exchange where you trade fiat (your national currency) for Bitcoin.
Popular exchanges include:
  • Coinbase
  • Kraken
  • Cex
  • Gemini
There’s tons of different exchanges. Just make sure you find one that supports your national currency.

Volatility

Bitcoin and cryptocurrencies are EXTREMELY volatile. Swings of 30% or more within a few days is not unheard of. Understand that there is always inherent risks with any investment. Cryptocurrencies especially. Only invest what you’re willing to lose.

Transaction & Network Fees

Transacting on the Bitcoin network is not free. Every purchase or transfer of Bitcoin will cost X amount of BTC depending on how congested the network is. These fees are given to miners as apart of the block reward.
Late 2017 when Bitcoin got up to $20,000USD, the average network fee was ~$50. Currently, at the time of writing this, the average network fee is $1.46. This data is available in real-time on BitInfoCharts.

Security

In this new era of money, there is no central bank or government you can go to in need of assistance. This means the responsibility of your money falls 100% into your hands. That being said, the security regarding your cryptocurrency should be impeccable. The anonymity provided by cryptocurrencies alone makes you a valuable target to hackers and scammers. Below I’ve detailed out best practices regarding securing your cryptocurrency.

Two-Factor Authentication (2FA)

Two-factor authentication is a second way of authenticating your identity upon signing in to an account. Most cryptocurrency related software/websites will offer or require some form of 2FA. Upon creation of any crypto-related account find the Security section and enable 2FA.

SMS Authentication

The most basic form of 2FA which you are probably most familiar with. This form of authentication sends a text message to your smartphone with a special code that will allow access to your account upon entry. Note that this is not the safest form of 2FA as you may still be vulnerable to what is known as a SIM swap attack. SIM swapping is a social engineering method in which an attacker will call up your phone carrier, impersonating you, in attempt to re-activate your SIM card on his/her device. Once the attacker has access to your SIM card he/she now has access to your text messages which can then be used to access your online accounts. You can prevent this by using an authenticator such as Google Authenticator.

Authenticator

The use of an authenticator is the safest form of 2FA. An authenticator is installed on a seperate device and enabling it requires you input an ever changing six digit code in order to access your account. I recommend using Google Authenticator.
If a website has the option to enable an authenticator, it will give you a QR code and secret key. Use Google Authenticator to scan the QR code. The secret key consists of a random string of numbers and letters. Write this down on a seperate sheet of paper and do not store it on a digital device.
Once Google Authenticator has been enabled, every time you sign into your account, you will have to input a six-digit code that looks similar to this. If you happen to lose or damage the device you have Google Authenticator installed on, you will be locked out of your account UNLESS you have access to the secret key (which you should have written down).

Hardware Wallets

A wallet is what you store Bitcoin and cryptocurrency on. I’ll provide resources on the different type of wallets later but I want to emphasize the use of a hardware wallet (aka cold storage).
Hardware wallets are the safest way of storing cryptocurrency because it allows for your crypto to be kept offline in a physical device. After purchasing crypto via an exchange, I recommend transferring it to cold storage. The most popular hardware wallets include the Ledger Nano S, and Trezor.
Hardware wallets come with a special key so that if it gets lost or damaged, you can recover your crypto. I recommend keeping your recovery key as well as any other sensitive information in a safety deposit box.
I know this all may seem a bit manic, but it is important you take the necessary security precautions in order to ensure the safety & longevity of your cryptocurrency.

Technical Aspects of Bitcoin

TL;DR
  • Address: What you send Bitcoin to.
  • Wallet: Where you store your Bitcoin
  • Max Supply: 21 million
  • Block Time: ~10 minutes
  • Block Size: 1-2 MB
  • Block Reward: BTC reward received from mining.

What is a Bitcoin Address?

A Bitcoin address is what you send Bitcoin to. If you want to receive Bitcoin you’d give someone your Bitcoin address. Think of a Bitcoin address as an email address for money.

What is a Bitcoin Wallet?

As the title implies, a Bitcoin wallet is anything that can store Bitcoin. There are many different types of wallets including paper wallets, software wallets and hardware wallets. It is generally advised NOT to keep cryptocurrency on an exchange, as exchanges are prone to hacks (see Mt. Gox hack).
My preferred method of storing cryptocurrency is using a hardware wallet such as the Ledger Nano S or Trezor. These allow you to keep your crypto offline in physical form and as a result, much more safe from hacks. Paper wallets also allow for this but have less functionality in my opinion.
After I make crypto purchases, I transfer it to my Ledger Nano S and keep that in a safe at home. Hardware wallets also come with a special key so that if it gets lost or damaged, you can recover your crypto. I recommend keeping your recovery key in a safety deposit box.

What is Bitcoins Max Supply?

The max supply of Bitcoin is 21 million. The only way new Bitcoins can be introduced into the economy are through block rewards which are given after successfully mining a block (more on this later).

What is Bitcoins Block Time?

The average time in which blocks are created is called block time. For Bitcoin, the block time is ~10 minutes, meaning, 10 minutes is the minimum amount of time it will take for a Bitcoin transaction to be processed. Note that transactions on the Bitcoin network can take much longer depending on how congested the network is. Having to wait a few hours or even a few days in some instances for a transaction to clear is not unheard of.
Other cryptocurrencies will have different block times. For example, Ethereum has a block time of ~15 seconds.
For more information on how block time works, Prabath Siriwardena has a good block post on this subject which can be found here.

What is Bitcoins Block Size?

There is a limit to how large blocks can be. In the early days of Bitcoin, the block size was 36MB, but in 2010 this was reduced to 1 MB in order to prevent distributed denial of service attacks (DDoS), spam, and other malicious use on the blockchain. Nowadays, blocks are routinely in excess of 1MB, with the largest to date being somewhere around 2.1 MB.
There is much debate amongst the community on whether or not to increase Bitcoin’s block size limit to account for ever-increasing network demand. A larger block size would allow for more transactions to be processed. The con argument to this is that decentralization would be at risk as mining would become more centralized. As a result of this debate, on August 1, 2017, Bitcoin underwent a hard-fork and Bitcoin Cash was created which has a block size limit of 8 MB. Note that these are two completely different blockchains and sending Bitcoin to a Bitcoin Cash wallet (or vice versa) will result in a failed transaction.
Update: As of May 15th, 2018 Bitcoin Cash underwent another hard fork and the block size has increased to 32 MB.
On the topic of Bitcoin vs Bitcoin Cash and which cryptocurrency is better, I’ll let you do your own research and make that decision for yourself. It is good to know that this is a debated topic within the community and example of the politics that manifest within the space. Now if you see community members arguing about this topic, you’ll at least have a bit of background to the issue.

What is Block Reward?

Block reward is the BTC you receive after discovering a block. Blocks are discovered through a process called mining. The only way new BTC can be added to the economy is through block rewards and the block reward is halved every 210,000 blocks (approximately every 4 years). Halving events are done to limit the supply of Bitcoin. At the inception of Bitcoin, the block reward was 50BTC. At the time of writing this, the block reward is 12.5BTC. Halving events will continue to occur until the amount of new Bitcoin introduced into the economy becomes less than 1 Satoshi. This is expected to happen around the year 2,140. All 21 million Bitcoins will have been mined. Once all Bitcoins have been mined, the block reward will only consist of transaction fees.

Technical Aspects Continued

Understanding Nodes

Straight from the Bitcoin.it wiki
Any computer that connects to the Bitcoin network is called a node. Nodes that fully verify all of the rules of Bitcoin are called full nodes.
In other words, full nodes are what verify the Bitcoin blockchain and they play a crucial role in maintaining the decentralized network. Full nodes store the entirety of the blockchain and validate transactions. Anyone can participate in the Bitcoin network and run a full node. Bitcoin.org has information on how to set up a full node. Running a full node also gives you wallet capabilities and the ability to query the blockchain.
For more information on Bitcoin nodes, see Andreas Antonopoulos’s Q&A on the role of nodes.

What is a Fork?

A fork is a divergence in a blockchain. Since Bitcoin is a peer-to-peer network, there’s an overall set of rules (protocol) in which participants within the network must abide by. These rules are put in place to form network consensus. Forks occur when implementations must be made to the blockchain or if there is disagreement amongst the network on how consensus should be achieved.

Soft Fork vs Hard Fork

The difference between soft and hard forks lies in compatibility. Soft forks are backwards compatible, hard forks are not. Think of soft forks as software upgrades to the blockchain, whereas hard forks are a software upgrade that warrant a completely new blockchain.
During a soft fork, miners and nodes upgrade their software to support new consensus rules. Nodes that do not upgrade will still accept the new blockchain.
Examples of Bitcoin soft forks include:
A hard fork can be thought of as the creation of a new blockchain that X percentage of the community decides to migrate too. During a hard fork, miners and nodes upgrade their software to support new consensus rules, Nodes that do not upgrade are invalid and cannot accept the new blockchain.
Examples of Bitcoin hard forks include:
  • Bitcoin Cash
  • Bitcoin Gold
Note that these are completely different blockchains and independent from the Bitcoin blockchain. If you try to send Bitcoin to one of these blockchains, the transaction will fail.

A Case For Bitcoin in a World of Centralization

Our current financial system is centralized, which means the ledger(s) that operate within this centralized system are subjugated to control, manipulation, fraud, and many other negative aspects that come with this system. There are also pros that come with a centralized system, such as the ability to swiftly make decisions. However, at some point, the cons outweigh the pros, and change is needed. What makes Bitcoin so special as opposed to our current financial system is that Bitcoin allows for the decentralized transfer of money. Not one person owns the Bitcoin network, everybody does. Not one person controls Bitcoin, everybody does. A decentralized system in theory removes much of the baggage that comes with a centralized system. Not to say the Bitcoin network doesn’t have its problems (wink wink it does), and there’s much debate amongst the community as to how to go about solving these issues. But even tiny steps are significant steps in the world of blockchain, and I believe Bitcoin will ultimately help to democratize our financial system, whether or not you believe it is here to stay for good.

Final Conclusions

Well that was a lot of words… Anyways I hope this guide was beneficial, especially to you crypto newbies out there. You may have come into this realm not expecting there to be an abundance of information to learn about. I know I didn’t. Bitcoin is only the tip of the iceberg, but now that you have a fundamental understanding of Bitcoin, learning about other cryptocurrencies such as Litecoin, and Ethereum will come more naturally.
Feel free to ask questions below! I’m sure either the community or myself would be happy to answer your questions.
Thanks for reading!

Related Links

Guides

Exchanges

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Daily analysis of cryptocurrencies 20191021(Market index 37 — Fear state)

Daily analysis of cryptocurrencies 20191021(Market index 37 — Fear state)

https://preview.redd.it/fvnsi6vuvvt31.jpg?width=1080&format=pjpg&auto=webp&s=41a8a6f3ddccb300af619e212cdaa8fa371e415d

Huawei Filed Patent Application For Blockchain-Based Settlement Citing information from Tian Yan Cha, a tool for commercial surveys, Huawei has filed a patent application for blockchain-based settlement. Per the application form, the patent can be used to verify the original data sent from the client end and settle the generation process from data to bills.
Korean Firms To Launch Trial Version Of All-In-One ID Verification App By End Of 2019 South Korean mobile carriers, smartphone makers, and financial firms, including Samsung Electronics, Hyundai Card, Shinhan Bank, etc. have joined hands to launch a decentralized ID service, named Initial, on a trial basis this year. The new service will essentially verify an individual’s identity without tangible documents like graduation or employment certificates, and enable taking out loans or applying for jobs, through a single mobile App. This is the second endeavor to launch a mobile identity verification system using blockchain technologies, after a similar effort by the Korea Financial Telecommunications & Clearings Institute.
China’s State Council To Strengthen Blockchain-Powered Regulation On Bills, Entertainment, And Healthcare China’s State Council addressed the need for stricter regulation on sectors of bills, entertainment, and healthcare in the Enhanced Regulation Guidance published recently, which points out the benefits and importance of leveraging nascent technologies, such as blockchain, big data, IoT, cloud computing, AI, etc. The Guidance explains that technologies like blockchain can reduce regulatory costs, minimize interference, and maximum effects of regulation. According to the State Council, blockchain, as a critical technology, is a natural fit for the regulatory frameworks, it can facilitate with the integration of regulatory infrastructures, offer reliable and timely transaction status, and improve information transparency.

Encrypted project calendar(October 21, 2019)

KNC/Kyber Network: The official online hackathon of the Kyber Network (KNC) project will end on October 21st, with more than $42,000 in prize money. Horizen (ZEN): 21 October 2019 Sidechains Alpha Release Horizen releasing the alpha version of industry first decentralized and unfederated sidechains. Horizen (ZEN): 21 October 2019 Updated Whitepaper Horizen releasing an updated whitepaper. Kuverit (KUV) : IDAX will list #Kuverit (KUV) and open trading for KUV/BTC trading pair. is going to be listed on 21 Oct, at 10:00 am (UTC+8). VRD/VRD Chain: VRD Chain (VRD) WBF Exchange will launch VRD/ETH trading pairs in the open area on October 21st at 10:00. MKMaker: MakerDAO (MKR) WBF Exchange will launch the MKUSDT trading pair in the open area on October 21st at 16:00. H56/H56 Token: H56 Token (H56) OEx International Station will be launched on October 21st at 14:30. NAUC/Nautical Coin: The Nautical Coin (NAUC) BiKi platform will open NAUC recharge and withdrawal at 14:00 on October 21, and open the NAUC/USDT transaction pair at 14:00 on October 24th. Celer Network (CELR): 21 October 2019 AMA “Come and join our AMA on Monday, OCT 21 at 7PM(PST).” Ankr (ANKR) : 21 October 2019 Moscow Meetup “This Monday, Oct 21, we are co-hosting a meetup with @Binance in Moscow!” Ethereum Classic (ETC): 21 October 2019 AMA @ETCCooperative Executive Director @BobSummerwill will participate in an AMA held by @GuardaWallet Nebulas (NAS): 21 October 2019 Community Fund Vote “The time has come for the community to decide what to do with the remaining community fund containing 34 million $NAS.” Hype Token (HYPE): 21 October 2019 Limited HYPE NFT Badges Level 5 & 6 NFT Badges has been released. As part of HYPE Token’s community rewards program, you can collect super rare NFT badges! IOST (IOST): 21 October 2019 Weekly Summary “Here’s a quick summary of the week of 14th Oct 2019 by @iostWatch

Encrypted project calendar(October 22, 2019)

ZRX/0x: The 0x protocol (ZRX) Pantera blockchain summit will be held on October 22. Locus Chain (LOCUS): 22 October 2019 Public Test Begins Public test runs for three days from October 22nd to October 24th. IOTA (MIOTA): 22 October 2019 EclipseCon Europe Next week, join Lewis Freiberg, our Director of Ecosystem, to learn how to build an ecosystem around IoT focused distributed ledgers. TRON (TRX): 22 October 2019 TRC20-USDT Bonanza “… @Huobiglobal . Deposit #TRC20- #USDT, enjoy APR up to 30%, starting from 00:00, Oct, 22 to 00:00, Nov, 1, 2019(SGT).” PCHAIN (PI): 22 October 2019 Ama with Founder & CEO “Jeff Cao PCHAIN founder & CEO, will host an AMA on 22nd Oct at 11:00 PM (UTC+8) in the @Binance_DEX Telegram.” iExec RLC (RLC): 22 October 2019 AMA “Tuesday 22 October 2019. You can ask the team anything you want until Thursday 17 October.”

Encrypted project calendar(October 23, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 23rd at the University of Southern California in Los Angeles with the theme “Connecting the I3 Market and Experiencing Purchase and Sales Data.” BTC/Bitcoin: The WBS World Blockchain Summit (Middle East) will be held in Dubai from October 23rd to 24th. Cardano (ADA) and 1 other: 23 October 2019 WBS Dubai “One of a kind gathering of 500+ curated & pre-qualified investors, CEOs, CIOs, CTOs, Heads of Blockchain, Chief Digital Officers CloakCoin (CLOAK): 23 October 2019 (or earlier) CloakCoin Competition “CloakCoin competition : solve the CloakCoin ENIGMA transaction, 3rd round.” Loom Network (LOOM): 23 October 2019 Singapore Meetup “Unstack the Stack Series: Loom Network” from 6:30–8:30 PM (SST). BTGS/Bitdog: ZG.COM will open the BTGS currency and coin transfer business at 14:00 on October 23, and open the BTGS/USDT transaction pair on October 23 at 18:18. Waltonchain (WTC): 23 October 2019 Transfers Suspended “$WTC deposits and withdrawals on #TaibiExchange will be suspended from 00:00 Oct 22 (UTC+8) and are estimated to resume at 15:00 Oct 23

Encrypted project calendar(October 24, 2019)

BCN/Bytecoin: Bytecoin (BCN) released the hidden amount of the Bytecoin block network on October 24. Horizen (ZEN): 24 October 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA. ANT/Aragon: Aragon (ANT) Aragon Network will hold the theme “DAO: ICO and DeFi next step” in Hong Kong on October 24th? DATA/Streamr DATAcoin: Streamr DATAcoin (DATA) Streamr Network Technology Exchange and Project Development Conference will be held in London on October 24th. Lisk (LSK): 24 October 2019 Coding Workshop — Berlin “During this workshop you will acquire the skills to create custom transactions with the Lisk Alpha SDK using Node.js.” BTU Protocol (BTU): 24 October 2019 Africa IT Expo “Our co-founder @vidal007 will be speaking at upcoming @africa_aitex [African IT Expo] held in #Rabat #Morocco on 24th of October.” Matrix AI Network (MAN): 24 October 2019 YouTube AMA YouTube AMA from 3PM, October 24 (GMT+8). Utrum (OOT): 24 October 2019 AtomicDex Listing “We are pleased to announce that Utrum coin OOT is getting listed on Komodo Platform Decentral Exchange — AtomicDEX. “

Encrypted project calendar(October 25, 2019)

ADA/Cardano: Cardano (ADA) The Ada community will host a community gathering in the Dominican Republic for the first time on October 25. Crypto.com Coin (CRO): 25 October 2019 Live AMA with CEO “Live AMA with our CEO @Kris_HK on @cryptocom’s Twitter next Friday, 25 October, 11AM HKT.” GST/GSTCOIN: GSTCOIN(GST)LBank will be online GST on October 25, 2019 at 16:00 (UTC+8), open trading pair: GST/USDT, GST/ETH.

Encrypted project calendar(October 26, 2019)

KAT/Kambria: Kambria (KAT) Kambria will host the 2019 Southern California Artificial Intelligence and Data Science Conference in Los Angeles on October 26th with IDEAS. BTC/Bitcoin: CoinAgenda Global Summit will be held in Las Vegas from October 26th to 28th Horizen (ZEN): 26 October 2019 (or earlier) ZEN 2.0.19 Upgrade Zen 2.0.19 upgrade at block #610000, which is expected around October 26.

Encrypted project calendar(October 27, 2019)

ICON (ICX): 27 October 2019 Money 20/20 USA Event Money 20/20 USA in Las Vegas from October 27–30.

Encrypted project calendar(October 28, 2019)

LTC/Litecoin: Litecoin (LTC) 2019 Litecoin Summit will be held from October 28th to October 29th in Las Vegas, USA BTC/Bitcoin: Mt.Gox changes the debt compensation plan submission deadline to October 28 ZEC/Zcash: Zcash (ZEC) will activate the Blossom Agreement on October 28th Stellar (XLM): 28 October 2019 Protocol 12 Upgrade Vote Horizon v0.22.0 has been released, which supports Protocol 12. This gives everyone ample time to prepare for the Protocol 12 upgrade vote Celsius (CEL) and 3 others: 28 October 2019 Litecoin Summit “…The Litecoin Summit offers two fun, jam-packed days with something for everyone.” XFOC (XFOC): The IDAX platform will be online XFOC and will open the XFOC/USDT trading pair at 13:00 on October 28. MEDIUM (MDM): The IDAX platform lists MDM and will open MDM/BTC trading pairs on October 28th at 15:00. ZB/ ZB Blockchain: The “2019 Hamburg Intercontinental Dialogue Conference” hosted by ZB.com will be held from October 28th to November 9th at the Four Seasons Hotel Hamburg, Germany. BQT (BQTX): 28 October 2019 Down for Maintenance BQTX.com will be down for maintenance on the 28th of October from 7 to 12am UTC.

Encrypted project calendar(October 29, 2019)

BTC/Bitcoin: The 2nd World Encryption Conference (WCC) will be held in Las Vegas from October 29th to 31st. ICON (ICX): 29 October 2019 Decentralization “As a result, the decentralization schedule of the ICON Network has been changed from September 24, 2019 to October 29, 2019.” Ark (ARK): and 10 others 29 October 2019 WCC 2019 Second annual Blockchain and Cryptocurrency Technology event, World Crypto Conference (WCC), October 29th — October 31, 2019. Insifa (ISF): 29 October 2019 Prototype Alpha “We from Insifa have decided to be more open. Our Prototype will be developed in scrum. This means new releases every two weeks.”

Encrypted project calendar(October 30, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 30th at the University of Southern California in Los Angeles on the topic “How to store data on IOTA Tangle.” TRON (TRX): 30 October 2019 SFBW19 Afterparty “TRON Official SFBW19 Afterparty from 7–10:30 PM in San Francisco.” Horizen (ZEN): 30 October 2019 Horizen Quarterly Update Join our first Quarterly Update on October the 30th at 5 PM UTC/ 1 PM EST. Deeper look into Engineering, BD, Marketing, and more. Aeternity (AE): 30 October 2019 Hardfork “The third hardfork of the æternity Mainnet is scheduled for October 30, 2019.” Valor Token (VALOR): 30 October 2019 Transaction Fees Resume “It’s September and the SMART VALOR Platform is still waiving transaction fees for all members, until October 30th!” Aragon (ANT): 30 October 2019 Singapore Meetup “Aragon on DAOs and DeFi” from 6:30–8:30 PM. Kambria (KAT): 30 October 2019 Outliers Hashed Awards Outliers Hashed awards from October 30–31. Ethereum Classic (ETC): 30 October 2019 Cohort Demo Day “ETC Labs hosts it’s 2nd Cohort Demo Day. Learn about the companies and project being accelerated through the Ethereum Classic ecosystem.”

Encrypted project calendar(October 31, 2019)

Spendcoin (SPND): 31 October 2019 (or earlier) Cross Ledger Mainnet “Cross Ledger Mainnet Release and SPND Token Swap,” during October 2019. Spendcoin (SPND): 31 October 2019 (or earlier) Blkchn University Beta “Blockchain University Beta goes live,” during October 2019. Stellar (XLM): 31 October 2019 (or earlier) Minor Release “We will have 6 Minor Releases in 2019; one each in February, March, May, June, August, and October.” Bitcoin SV (BSV): 31 October 2019 (or earlier) BSV Conference Seoul No additional information. Seele (SEELE): 31 October 2019 (or earlier) Public Network Mainne launch has been moved to Oct 31 . Howdoo (UDOO): 31 October 2019 (or earlier) Howdoo Live on Huawei Howdoo begins its exciting partnership with Huawei with listing as a featured app starting in October. Chiliz (CHZ): 31 October 2019 (or earlier) App Soft Launch Soft launch of Socios App by end of October. Dent (DENT): 31 October 2019 (or earlier) Loyalty Program “Afterburner loyalty program launch for all 21,6 Million mobile #DENT users will be in October!” IceChain (ICHX): 31 October 2019 (or earlier) Wallet Release IceChain releases wallet during October. Chiliz (CHZ): 31 October 2019 (or earlier) New Partnerships New sports and new teams joining Socios (+more updates and events) will be announced in the upcoming weeks. Horizen (ZEN): 31 October 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA. PCHAIN (PI): 31 October 2019 (or earlier) New Website No additional information. IOST (IOST): 31 October 2019 (or earlier) New Game on IOST “Eternal Fafnir, a new role-playing game developed by INFUN is coming to you in Oct.” Achain (ACT): 31 October 2019 Mainnet 2.0 Launch “… The main network is officially scheduled to launch on October 31.” Mithril (MITH):31 October 2019 Burn “MITH burn will take place on 2019/10/31 2pm UTC+8. “ Aergo (AERGO): 31 October 2019 (or earlier) Aergo Lite V1.0 Release AergoLite, which brings blockchain compatibility to billions of devices using SQLite, released during October 2019. TE-FOOD (TFD): 31 October 2019 (or earlier) Complementary Product “Development of a new, complementary product with a new partner, which we hope to be launched in September-October.” Edge (DADI): 31 October 2019 (or earlier) Full Open Source Code base for the network fully open-sourced in September or October. BlockStamp (BST): 31 October 2019 (or earlier) ASIC Miner Prototype In orderr to ensure BlockStamps continued decentralization, we will release a BST ASIC miner for testing. Perlin (PERL): 31 October 2019 (or earlier) SSA Partnership “Perlin has partnered with the Singapore Shipping Association to create the International E-Registry of Ships (IERS)” Skrumble Network (SKM): 31 October 2019 (or earlier) Exchange Release “3rd dApp: Exchange Release,” during October 2019. EDC Blockchain (EDC): 31 October 2019 (or earlier) Blockchain Marketplace “As you already know, our ECRO blockchain marketplace is ready for release, and will open to the global community in October!” BlockStamp (BST): 31 October 2019 (or earlier) ASIC Miner Prototype In orderr to ensure BlockStamps continued decentralization, we will release a BST ASIC miner for testing. XinFin Network (XDCE): 31 October 2019 Homebloc Webinar “XinFin — Homebloc Webinar 2019” from 9–10 PM. Akropolis (AKRO): 31 October 2019 (or earlier) Alpha Release “Delivers the initial mainnet implementation of protocol. All building blocks will be united to one product.” Hyperion (HYN): 31 October 2019 (or earlier) Economic Model The final version of the HYN Economic Model launches in October.

Encrypted project calendar(November 1, 2019)

INS/Insolar: The Insolar (INS) Insolar wallet and the redesigned Insolar Block Explorer will be operational on November 1, 2019. VeChain (VET):”01 November 2019 BUIDLer Reunion Party BUIDLer Reunion Party in San Francisco from 8–11 PM. uPlexa (UPX): 01 November 2019 Steadfast Storm — PoS/PoW split (Utility nodes ie. master nodes) — Upcoming Anonymity Network much like TOR — Privacy-based DApps — Reduced network fees. Enjin Coin (ENJ): 01 November 2019 MFT Binding “ICYMI: On Enjin Coin’s 2nd anniversary (November 1), Enjin MFTs will be bound to hodlers’ blockchain addresses…” Auxilium (AUX):01 November 2019 AUX Interest Distribution Monthly interest distribution by Auxilium Interest Distribution Platform for coinholders. Also supports charity. Havy (HAVY):01 November 2019 Token Buyback “Havy tokens buyback, Only in 1 exchange between Idex, Mercatox & Hotbit. The exchange depends on the most lower sell wall.”

Encrypted project calendar(November 2, 2019)

Kambria (KAT): 02 November 2019 VietAI Summit 2019 Kambria joins forces with VietAI for the annual VietAI Summit, with top experts from Google Brain, NVIDIA, Kambria, VietAI, and more!

Encrypted project calendar(November 4, 2019)

Stellar (XLM): 04 November 2019 Stellar Meridian Conf. Stellar Meridian conference from Nov 4–5 in Mexico City. Cappasity (CAPP): 04 November 2019 Lisbon Web Summit Lisbon Web Summit in Lisbon, Portugal from November 4–7.

Encrypted project calendar(November 5, 2019)

Nexus (NXS): 05 November 2019 Tritium Official Release “Remember, Remember the 5th of November, the day Tritium changed Distributed Ledger. Yes, this is an official release date.” NEM (XEM): 05 November 2019 Innovation Forum — Kyiv NEM Foundation Council Member Anton Bosenko will be speaking in the upcoming International Innovation Forum in Kyiv on November 5, 2019.

Encrypted project calendar(November 6, 2019)

STEEM/Steem: The Steem (STEEM) SteemFest 4 conference will be held in Bangkok from November 6th to 10th.

Encrypted project calendar(November 7, 2019)

XRP (XRP): 07 November 2019 Swell 2019 Ripple hosts Swell from November 7th — 8th in Singapore.

Encrypted project calendar(November 8, 2019)

BTC/Bitcoin: The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th.

Encrypted project calendar(November 9, 2019)

CENNZ/Centrality: Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland.
https://preview.redd.it/25yzdn8yvvt31.png?width=504&format=png&auto=webp&s=31b4e04dfff879aff9ee1327bbabea4c989861e4

This past week, we saw mostly bearish moves in bitcoin below the $8,200 support area against the US Dollar. BTC price even settled below $8,000 and the 100 hourly simple moving average. However, the $7,800 area acted as a strong support. As a result, BTC started a decent recovery above the $8,000 resistance area and the 100 hourly SMA. Moreover, there was a break above a contracting triangle with resistance near $8,000 on the hourly chart.
More importantly, the price surpassed the main $8,200 resistance area (as discussed in the weekly forecast). Finally, the price traded above the $8,250 level and tested the $8,300 zone. A high was formed near $8,305 and the price is currently consolidating gains. An immediate support is near the $8,200 level or the 23.6% Fib retracement level of the recent recovery from the $7,884 low to $8,305 high.
Additionally, there is a short term breakout or bullish continuation pattern forming with resistance near $8,250 on the same chart. If there is an upside break above $8,250, bitcoin price could continue to rise towards the $8,300 and $8,350 resistance levels. The next key resistance on the upside is near the $8,400 level.
Review previous articles: https://medium.com/@to.liuwen

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Daily analysis of cryptocurrencies 20191014(Market index 37 — Fear state)

Daily analysis of cryptocurrencies 20191014(Market index 37 — Fear state)

https://preview.redd.it/3ygnthtqths31.jpg?width=1200&format=pjpg&auto=webp&s=e681b3df0e1fe4547fc85547b4d62e4c6bffa481
https://coin360.com/
UPbit Operator Dunamu To Launch Comprehensive OTC Platform Dunamu, an operator of global cryptocurrency exchange UPbit, announced Oct 14 that it planed to launch a comprehensive over-the-counter trading platform that deals with all types of unlisted stocks. According to the UPbit operator, it will jointly launch the platform, which will be available in the form of an App, with local brokerage Samsung Securities and big data analytics company Deep Search in the end of October.
FSB Chair Reports To G20 Finance Ministers And Central Bank Governors On Oct 13, the Financial Stability Board (FSB) published a letter from its Chair Randal K. Quarles to G20 Finance Ministers and Central Bank Governors ahead of their meetings in Washington D.C. this week. The letter highlights three areas of the FSB’s work, which include the potential financial stability issues from global stablecoins. It mentions that stablecoin projects of potentially global reach and magnitude must meet the highest regulatory standards and be subject to prudential supervision and oversight. “Possible regulatory gaps should be assessed and addressed as a matter of priority. The FSB has formed a working group, to inform regulatory policy approaches that harness the benefits of financial innovation, while containing associated risks for the financial system, and advise on multilateral responses as necessary. The FSB will submit a consultative report to the G20 in April and a final report in July 2020,” the report reads.
US Senators Threaten CEOs: Dump Libra Or Face Regulatory Wrath Facebook’s crypto woes are deepening as more partners are jumping the Libra ship before it even sets sail. It appears that US senators are urging them to do so as letters to CEOs have been leaked online. Some say the government is stifling innovation while others agree the crypto project is just dangerous. It seems that a number of US senators have been privately contacting Libra Association members urging them to dump the project like a hot rock. Letters shared online by VanEck digital asset strategist Gabor Gurbacs highlight the extent US politicians will go to in efforts to prevent Libra ever launching.
Report: G7 Says ‘Global Stablecoins’ Pose Threat To Financial Stability The G7 group of nations has reportedly drafted a report which says that “global stablecoins” pose a threat to the global financial system. According to the BBC on Oct 13, a draft report from the G7 outlined the various risks associated with digital currencies. It also said that, even if member firms of the governing Libra Association addressed regulatory concerns, it may not get approval from the necessary regulators, stating: “The G7 believe that no stablecoin project should begin operation until the legal, regulatory and oversight challenges and risks are adequately addressed. […] Addressing such risks is not necessarily a guarantee of regulatory approval for a stablecoin arrangement.”

Encrypted project calendar(October 14, 2019)

BCH/Bitcoin Cash: The ChainPoint 19 conference will be held in Armenia from October 14th to 15th. Veros (VRS): 14 October 2019 Launch of News Service “Launch of the VEROS NEWS service.” Skycoin (SKY): 14 October 2019 Hardware Release “New hardware product launch.” Bibox Token (BIX): 14 October 2019 Weekly Report “Check out Bibox Weekly Report (Vol. 67 2019.09.28–2019.10.11)”

Encrypted project calendar(October 15, 2019)

RUFF/RUFF Token: Ruff will end the three-month early bird program on October 15th KAT/Kambria: Kambria (KAT) exchanges ERC20 KAT for a 10% bonus on BEP2 KAT-7BB, and the token exchange reward will end on October 15. BTC/Bitcoin: The Blockchain Technology Investment Summit (CIS) will be held in Los Angeles from October 15th to 16th. OTOCASH (OTO): 15 October 2019 Escodex Shutdown “ All OTO HOLDERs who have assets on ESCODEX EXCHANGE to immediately withdraw your assets before October 15th, 2019 4:00 PM” (CRYPTO): 15 October 2019 Hard Fork Summit Hard Fork Summit 2019 by TNW . “Where finance and business meets tech.” Amsterdam, October 15–17. Cardano (ADA): 15 October 2019 NYC Meetup “Next week on October 15th Nathan Kaiser, Chairperson of the Cardano Foundation, will be in attendance to meet community members in NYC FunFair (FUN): 15 October 2019 Marketing AMA “The FunFair Marketing AMA… will be held on Tuesday the 15th of October at 2pm in the Live team chat channel on Discord Ark (ARK): 15 October 2019 ARK Core v2.6 on Devnet “We are very excited to announce #ARK Core v2.6 will be launching on #Devnet, October 15th, 2019! “ DigiByte (DGB): 15 October 2019 BitMart Listing DigiByte (DGB) will be listed on BitMart Exchange on October 15, 2019. The following trading pair will be available: DGB/BTC. ThoreNext (THX): 15 October 2019 Staking Goes Live “Staking live from 15 OCT 2019.”

Encrypted project calendar(October 16, 2019)

BTC/Bitcoin: The 2019 Blockchain Life Summit will be held in Moscow, Russia from October 16th to 17th. MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on the theme of “Technology Problem Solving and Testing IoT Devices” at the University of Southern California in Los Angeles on October 16. ETH/Ethereum: Ethereum launches Istanbul (Istanbul) main network upgrade, this main network upgrade involves 6 code upgrades. QTUM/Qtum: Qtum (QTUM) Qtum main network hard fork is scheduled for October 16. (CRYPTO): and 1 other 16 October 2019 Supply Chains Unblocked Supply Chains Unblocked in London from 9:30 AM — 6 PM. Binance Coin (BNB): 16 October 2019 Singapore Meetup “Bring your friends to come along with, & it will be FUN! With snacks and drinks.” IoTeX (IOTX): 16 October 2019 Mainet Beta “The next evolution of IoTeX blockchain, secure IoT hardware, and decentralized identity is coming October 16 — mark your calendars.” Selfkey (KEY): 16 October 2019 Corporate Wallet Release “Soon, wallet users will be able to manage corporate profiles and identity attributes.” Cardano (ADA): 16 October 2019 Washington D.C. Meetup “Nathan Kaiser, Chairperson of the Cardano Foundation, will join the community in Washington DC on Oct 16, and talk about the recent

Encrypted project calendar(October 17, 2019)

Holo (HOT): 17 October 2019 Redgrid AMA “Join us for the AMA with RedGrid on October 17th. Submit your questions before the AMA on our Holochain Dev Forum.” IOST (IOST): 17 October 2019 Breeding Competition Ends “Join IOST 2nd Breeding Competition by @FishChainGame now! The competition only lasts till 17 Oct” Aragon (ANT): 17 October 2019 Seoul Meetup “You are invited to join @licuende for a meetup and presentation on ‘Aragon and DAOs: What’s next after ICOs and DeFi?’” Skycoin (SKY): 17 October 2019 NYC Skywire Meetup NYC Skywire Mainnet Meetup in NYC from 6–8 PM. Horizen (ZEN): 17 October 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.

Encrypted project calendar(October 18, 2019)

BTC/Bitcoin: The SEC will give a pass on the VanEck/SolidX ETF on October 18th and make a final decision HB/HeartBout: HeartBout (HB) will officially release the Android version of the HeartBout app on October 18. OKB (OKB): 18 October 2019 Rotterdam Meetup “Meet us in Rotterdam on 18 Oct as we partner up with Crypto010 Meetup to bring you a talk on ‘Decentralized Finance’.” HeartBout (HB): 18 October 2019 Android Version “18th of October 2019 will be officially released Android version of HeartBout app.” BTU Protocol (BTU): and 2 others 18 October 2019 Paris Blockchain Summit The event will gather major international key players of the Blockchain ecosystem including well-known influencers, investors, government…

Encrypted project calendar(October 19, 2019)

PI/PCHAIN Network: The PCHAIN (PI) backbone (Phase 5, 82 nodes, 164, 023, 802 $ PI, 7 candidates) will begin on October 19. LINK/ChainLink: Diffusion 2019 will be held in Berlin, Germany from October 19th to 20th DeepBrain Chain (DBC): 19 October 2019 (or earlier) Deploy Main Chain “Deploy Main Chain,” during the third week of October. General Event (CRYPTO): and 1 other 19 October 2019 Free State Blockchain “This “unconference” style event brings together some of the top financial tech innovators, researchers, company leaders, and other…” PCHAIN (PI): 19 October 2019 Main Chain Voting “Main chain: Epoch 5, 82 nodes, 164,023,802 $PI, 7 Candidates, voting will start on Oct. 19th.” Nash Exchange (NEX): 19 October 2019 Nash Anniversary Nash will present their work from the third quarter of 2019. Team members will be present and to answer your questions in person.

Encrypted project calendar(October 20, 2019)

GameCredits (GAME): 20 October 2019 (or earlier) Mining Reward Drop GameCredits mining reward will be cut in half at block 2519999 (~October 20). This will be the 4th halvening of the GAME mining reward! Aeternity (AE): 20 October 2019 Starfleet 3 App Deadline #Starfleet3 is happening in Malta and you have by October 20th to apply!

Encrypted project calendar(October 21, 2019)

KNC/Kyber Network: The official online hackathon of the Kyber Network (KNC) project will end on October 21st, with more than $42,000 in prize money. Horizen (ZEN): 21 October 2019 Sidechains Alpha Release Horizen releasing the alpha version of industry first decentralized and unfederated sidechains. Horizen (ZEN): 21 October 2019 Updated Whitepaper Horizen releasing an updated whitepaper.

Encrypted project calendar(October 22, 2019)

ZRX/0x: The 0x protocol (ZRX) Pantera blockchain summit will be held on October 22.

Encrypted project calendar(October 23, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 23rd at the University of Southern California in Los Angeles with the theme “Connecting the I3 Market and Experiencing Purchase and Sales Data.” BTC/Bitcoin: The WBS World Blockchain Summit (Middle East) will be held in Dubai from October 23rd to 24th. Cardano (ADA) and 1 other: 23 October 2019 WBS Dubai “One of a kind gathering of 500+ curated & pre-qualified investors, CEOs, CIOs, CTOs, Heads of Blockchain, Chief Digital Officers

Encrypted project calendar(October 24, 2019)

BCN/Bytecoin: Bytecoin (BCN) released the hidden amount of the Bytecoin block network on October 24.

Encrypted project calendar(October 25, 2019)

ADA/Cardano: Cardano (ADA) The Ada community will host a community gathering in the Dominican Republic for the first time on October 25.

Encrypted project calendar(October 26, 2019)

KAT/Kambria: Kambria (KAT) Kambria will host the 2019 Southern California Artificial Intelligence and Data Science Conference in Los Angeles on October 26th with IDEAS. BTC/Bitcoin: CoinAgenda Global Summit will be held in Las Vegas from October 26th to 28th

Encrypted project calendar(October 28, 2019)

LTC/Litecoin: Litecoin (LTC) 2019 Litecoin Summit will be held from October 28th to October 29th in Las Vegas, USA BTC/Bitcoin: Mt.Gox changes the debt compensation plan submission deadline to October 28 ZEC/Zcash: Zcash (ZEC) will activate the Blossom Agreement on October 28th

Encrypted project calendar(October 29, 2019)

BTC/Bitcoin: The 2nd World Encryption Conference (WCC) will be held in Las Vegas from October 29th to 31st.

Encrypted project calendar(October 30, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 30th at the University of Southern California in Los Angeles on the topic “How to store data on IOTA Tangle.”

Encrypted project calendar(November 1, 2019)

INS/Insolar: The Insolar (INS) Insolar wallet and the redesigned Insolar Block Explorer will be operational on November 1, 2019.

Encrypted project calendar(November 6, 2019)

STEEM/Steem: The Steem (STEEM) SteemFest 4 conference will be held in Bangkok from November 6th to 10th.

Encrypted project calendar(November 8, 2019)

BTC/Bitcoin: The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th.

Encrypted project calendar(November 9, 2019)

CENNZ/Centrality: Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland.
https://preview.redd.it/roxxrqbuths31.png?width=504&format=png&auto=webp&s=c94149f1d2f662508b925a59ec31d863731918fb

This past week, we saw a nasty decline from the $8,950 zone in bitcoin against the US Dollar. The price declined heavily and broke the key $8,500 support area. Moreover, there was a close below the $8,500 level and the 100 hourly simple moving average. It opened the doors for more losses below the $8,400 and $8,350 support levels. Recently, there was a recovery above the $8,400 level, but the price failed to gain pace above $8,450.
As a result, there was a fresh decline from the $8,472 high. During the decline, there was a break below a key ascending channel with support near $8,340 on the hourly chart of the BTC/USD pair. The pair traded as low as $8,146 and it is currently correcting higher. It broke the $8,200 level and the 23.6% Fib retracement level of the recent decline from the $8,472 high to $8,146 low.
At the moment, the price is testing the $8,300 area. Besides, it seems like the 50% Fib retracement level of the recent decline from the $8,472 high to $8,146 low is acting as a resistance. On the upside, there are many hurdles forming near the $8,350 and $8,400 levels. The key resistance is near the $8,400 level and the 100 hourly SMA. It also coincides with the 76.4% Fib retracement level of the recent decline from the $8,472 high to $8,146 low.
Therefore, a clear close above the $8,400 level might start a decent recovery. The next key resistance is near the $8,500 level, above which the price could test the $8,800 resistance. Conversely, if the price fails to recover above $8,350 or $8,400, it could resume its decline. An immediate support is near the $8,200 level.
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Mt. Gox Bitcoin exchange goes offline after $350 million ... The Rise and Fall of Mt. Gox: The World's Largest Bitcoin ... Mt. Gox Bitcoin Missing In relation to Mysterious Death of Exchange CEO Keep Your Crypto Safe from Disappearing Exchanges. (MtGox Bitgrail BTC-E QuadringaCX Golix Bitsane) Mt. Gox: Solving the Mystery of Bitcoin’s Biggest Disaster I Fortune

Mt. Gox Stolen Bitcoin Rehabilitation Plan is Once Again Delayed Bitcoin Deposits and Withdrawals Resumed as KuCoin Makes Steps to Full Recovery On October 15th 2020, almost 150,000 #Bitcoin ‘s are set to be sent back to customers that fell victim to the Mt. Gox exchange “hack’ in 2013. I lost my 2FA device to access the mtgox system, and [email protected] has an outdated vacation responder active.. A web search indicates that Japan's state of emergency was lifted in May, but this email address still replies "In the aftermath of the Japanese government's declaration of a state of emergency, we are forced to suspend part of the use of the system, and the response will be delayed. The document lays out a step-by-step plan to recover between 170,000 to 200,000 bitcoin stolen in the Mt. Gox heist (this represents roughly a fifth of all funds filched from what was the most popular bitcoin exchange at the time). The firm says it would give creditors remuneration in fiat based on the exchange rate at the time of recovery and equal to the number of bitcoin lost in the hack ... You received an email for each BTC withdrawal you made. The email is from [email protected] and has the subject "[Mt.Gox] Withdraw from your account your-username". Within this email is a long Transaction Reference, something like ef2c9789-77ac-469f-8606-85d3ca36f299. Gox's Konkurs war mit Anekdoten des Verlustes gefüllt: Ich suche Gerechtigkeit. MtGoxRecovery. com wurde von tech entrepreneur und Bitcoin Foundation Lebenszeit Mitglied Olivier Janssens, der behauptet, persönlich verloren haben mehr als $ 5m als Ergebnis der Mt. Gox's fragwürdige Operationen.

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Mt. Gox Bitcoin exchange goes offline after $350 million ...

Mt. Gox, once the world's largest bitcoin exchange, is now offline after losing about $350 million to a two year-long hack that went undetected by the compan... 🔴 Bill Gates Live Microsoft, Bitcoin Crash, Anti-Bearish Coalition, Investments Microsoft US 5,108 watching Live now Inside a Secret Chinese Bitcoin Mine - Duration: 9:17. Mt. Gox Bitcoin Missing In relation to Mysterious Death of Exchange CEO Mt. Gox Bitcoin Missing In relation to Mysterious Death of Exchange CEO Mt. Gox Bitco... This is a walkthrough on how to send some bitcoins over to anyone. The example I use is the Mt. Gox exchange. If you have any questions or comments, don't be shy. For donations ... Mt. Gox is a story for the ages. Beginning in obscurity, rising to prominence, and falling down in epic fashion, there are few stories that can equal that of...

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