Bitcoin Account Accuses Twitter of Shadow Banning to Restrict Its Reach

Bitcoin Account Accuses Twitter of Shadow Banning to Restrict Its Reach

On March 23, the Twitter handle @Bitcoin became mired in controversy after BTC supporters complained about the account and attempted to get the profile shut down. The operator of the Bitcoin Twitter profile has also accused the social media platform of manipulating matters by placing restrictions on the account and limiting its overall traffic. Also read: Bitcoin and the Agora: Every Transaction Outside the Nexus of State Control Is a Victory The Relentless Attempt to Silence a Twitter Handle The owner of the Twitter handle @Bitcoin believes the account is being restricted for being critical toward the Bitcoin Core (BTC) network and the Lightning Network (LN). Over the last few weeks, several BTC supporters have advocated having the account suspended or reassigned to a group of core developers. The dispute arose because the @Bitcoin account shows support for the Bitcoin Cash (BCH) network. Hardcore maximalists and LN proponents believe that because the account calls itself ‘Bitcoin,’ it is fraudulently impersonating what they believe is the ‘real’ Bitcoin. On March 15, Twitter user @Moonoverlord opined that the account should be handed to the group of developers known as Bitcoin Core. “So embarrassing the Bitcoin handle acts like this,” Moonoverlord tweeted. “Should be given back to the bitcoin core team instead of being used to start petty fights and mislead people.” The @Bitcoin Twitter handle showing how the account’s traffic has been drastically reduced. Its owner suspects Twitter employees of shadow banning.The former moderator of the r/bitcoin subreddit, a Reddit forum known for rampant censorship, also agreed with the idea and explained the handle could be given to any developers behind BTC. “Doesn’t have to be the core devs — Could be the group of devs @sqcrypto funds with just positive and informative content,” explained the Twitter handle known as ‘Stop and Decrypt.’ Blockstream VP of Solutions, Warren Togami, replied to Stop and Decrypt’s commentary by stating that “It’s better for the name to be frozen forever — The account has been committing fraud for a long time — Surely this is a violation of ToS.” Twitter Suspensions and Shadow Bans Following the controversy and people bickering about the handle this week, the @Bitcoin account detailed that it believed it was already being unfairly restricted. “Any journalists…

Changes to Tether’s Terms of Reserves Raises Fresh Concerns

Changes to Tether’s Terms of Reserves Raises Fresh Concerns

Controversial stablecoin Tether is in the spotlight again after changes to the details of the way in which it backs up tokens in supply. As reported on March 14, various online users noted and posted disconcerting changes to the Tether website, which have seemingly altered the way that the company is providing surety for the tokens it issues. Tether is a stablecoin backed up by the United States dollar at a 1:1 ratio, meaning the company has $1 for every USDT that is in circulation. This has long been a point of contention by the wider cryptocurrency community due to the fact that Tether has never carried out a third-party audit of its financial accounts. While the exact date of the change is not known, Tether’s website has seemingly adjusted the details of how it ensures a reserve for circulating tokens, with the “100% Backed” statement no longer claiming that every USDT is backed by fiat currency: “Every tether is always 100% backed by our reserves, which include traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties, which may include affiliated entities.” It is the latest twist in Tether’s chequered history, which Cointelegraph has delved into at length. Debatable assurances of reserves The company’s latest attestation of its financial accounts is a document from law firm Freeh, Sporkin & Sullivan LLP, which provided confirmation of Tether’s currency reserves in 2018. A number of clauses near the end of the document make the assurances unsubstantial. Firstly, Freeh, Sporkin & Sullivan is not an accounting firm, and did not make the confirmations using generally accepted accounting principles. The document also makes it clear that the confirmation should not be construed as the result of an official audit. The findings are also only seen as being valid as of June 2018, meaning the company still has not provided third-party assurance of reserves for circulating currency for over nine months. Tether also had to carry out a search for another banking service provider following its split with Puerto Rico-based Noble Bank in October 2018. The company provided proof of banking with Bahamas-based Deltec Bank in November. Following this, a report from Bloomberg in December…

Bitcoin Holds Just Over $4,000 as Top Cryptos See Slight Losses

Bitcoin Holds Just Over $4,000 as Top Cryptos See Slight Losses

Sunday, March 24 — most of the top 20 cryptocurrencies are reporting slight losses on the day by press time, according to data from CoinMarketCap. Bitcoin (BTC) is down just over a tenth of a percent on the day, trading at around $4,021, according to CoinMarketCap. Looking at its weekly chart, the current price is just over a quarter of a percent lower than $4,036, the price at which Bitcoin started the week. Bitcoin 7-day price chart. Source: CoinMarketCap On March 18, the option to donate Bitcoin, along with eight other cryptos, appeared on the website of Tor digital privacy software. Ethereum (ETH) is holding onto its position as the largest altcoin by market cap, which is at about $14.4 billion. The second-largest altcoin, Ripple (XRP), has a market cap of about $12.9 billion by press time. ETH is down by a slight half a percent over the last 24 hours. At press time, ETH is trading around $137, after having started the day at roughly the same price. On its weekly chart, Ethereum has seen its value decrease by nearly three percent. Ethereum 7-day price chart. Source: CoinMarketCap Recently news broke that leading Ethereum browser extension Metamask reportedly broadcasts ETH addresses to all websites a user visits in its default settings. Second-largest altcoin Ripple has is also down about half a percent in the 24 hours to press time, and is currently trading at around $0.309. Looking at the coin’s weekly chart, its current price is also nearly three percent lower than $0.318, the price at which it started the week. Ripple 7-day price chart. Source: CoinMarketCap Among the top 20 cryptocurrencies, the one reporting the most notable price action — and one of the few coins in the green over the last 24 hours — is Binance Coin (BNB), which is up by over 11 percent. As Cointelegraph reported earlier today, Binance Coin is employed by the new format of Binance’s token launch service, Launchpad, for acquiring tickets to access a lottery to acquire new altcoins. Meanwhile, the total market cap of all cryptocurrencies is currently equivalent to $140 billion, which is nearly identical to its value one week ago, up slightly from $139.7 billion In recent news, the general manager at the…

Binance Changes Launchpad Token Sale Format to Lottery

Binance Changes Launchpad Token Sale Format to Lottery

Leading cryptocurrency exchange Binance announced major changes to the format of its Launchpad token sale in a post on its blog published on March 24. Per the announcement, the company “will use a new lottery format for the next project on Binance Launchpad.” Previously, the system functioned on a first come, first served basis, which left many users who joined high-demand sale queues without tokens.   The post also outlines a lottery ticket system in which participants will be able to claim up to five tickets by holding Binance Coin (BNB) tokens over the 20 days leading up to the lottery, with 1 ticket per 100 BNB. The exchange will announce the number of winning tickets and the amount of funds that the owner of a winning ticket will receive. Users will be able to choose how many tickets they want to use to participate in a given lottery in the 24 hours before the winners are chosen, with the maximum number based on their BNB holdings over the prior 20 day period. While Binance admits that the new system may cause some fluctuations in BNB trading before and after the snapshot time, its reports that the side effects should be minimal adding: “Other market participants may view this as an opportunity, and countertrade to even out the fluctuations.” Binance Launchpad, as the name suggests, is the company’s token launch platform, which most recently concluded a $4 million sale of Celer Network (CELR) tokens last week. The platform reportedly conducted the Fetch.AI (FET) token sale, which raised $6 million within 22 seconds in February. As Cointelegraph recently reported, changes made to Binance’s public Application Programming Interface seemingly reveal that the company is working on implementing margin trading. Last Tuesday, two exchanges, LBank and Bit-Z, overtook Binance on the adjusted trade volume cryptocurrency exchange rankings on CoinMarketCap, but research published on March 18 by the Tie suggests most of their volume is fake.

Hodler’s Digest, March 18–24: Hodler’s Digest, Top Stories, Price Movements, Quotes and FUD of the Week

Hodler’s Digest, March 18–24: Hodler’s Digest, Top Stories, Price Movements, Quotes and FUD of the Week

Top Stories This Week Six Global Banks Sign Up to Issue Stablecoins on IBM’s Now-Live Blockchain Network This week, six international banks signed letters of intent to issue their own stablecoins — which will be backed by their national fiat currencies — on IBM’s now-live blockchain-powered payments network, “World Wire.” According to the joint announcement by IBM and Stellar, the World Wire has gone live with over 44 banks on its service, supporting 47 currencies in 72 countries. The IBM project was launched with Stellar in September 2018, and plans to expand the blockchain-powered settlement network to further assets. The first six banks publicly signed on include Brazil’s Banco Bradesco, South Korea’s Bank Busan and the Philippines’ Rizal Commercial Banking Corporation. Payment Service Square Is Hiring Crypto Engineers, Offers Salaries in Bitcoin Twitter and Square CEO Jack Dorsey tweeted this week that United States-based payment platform Square is hiring cryptocurrency engineers with the option of getting a salary in digital currency. According to Dorsey, the open, remote positions will involve full-time work on open source contributions to both the Bitcoin (BTC) and cryptocurrency ecosystem, as opposed to working on Square’s commercial interests. In another tweet, Dorsey noted that the idea of paying employees in crypto is part of the overall aim of improving the broader crypto ecosystem. Largest Swiss Online Retailer Digitec Galaxus Now Accepts Cryptocurrencies Digitec Galaxus, the leading Swiss online retailer, will now accept payments in ten different cryptocurrencies: Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Ethereum (ETH), Ripple (XRP), Binance Coin (BNB), Litecoin (LTC), Tron (TRX), NEO (NEO) and OmiseGO (OMG) for purchases worth over CHF 200 (about $200). The retailer’s new payment method has been developed along with Swiss payment processor Datatrans and Danish crypto payments startup Coinify. The firm has also added a crypto wallet category with a dedicated guide and blog post explaining various facets of the crypto industry. US Payment Giant Visa Seeks Crypto and Blockchain Talent for Tech Product Manager American payment services firm Visa is advertising for a crypto and blockchain-related job opening at its Palo Alto office. The job at Visa Fintech, which is titled Technical Product Manager, requires an employee that will be responsible for managing Visa’s product strategy execution in the cryptocurrency…

Bitcoinmap.cash Helps You Find Places to Spend BCH

Bitcoinmap.cash Helps You Find Places to Spend BCH

An application called Bitcoinmap.cash lists locations where decentralized digital currencies such as bitcoin cash can be spent directly. It provides information about hundreds of restaurants, bars, hotels, and stores around the world that accept electronic cash without intermediaries. Also read: New Crypto Exchange Bitzlato Offers P2P Trading Promoting Direct Payments With Bitcoin Cash The Bitcoinmap.cash platform, a community project open to new participants and developers, has a web-based version and a mobile app for Android devices. All the venues displayed on its map accept bitcoin cash (BCH) or dash, while some of the shops also take bitcoin core (BTC). Many of these places – such as the Cara B Cafe-Bar in downtown Barcelona or the La Sirene Soho Restaurant in New York – offer discounts of up to 20 percent on the first BCH payment you make. The people behind Bitcoinmap.cash believe anyone who is holding cryptocurrency should support the growth of its value by actively promoting and spending it. “The only reason why Bitcoin has any value is because we can use it for payments. If we don’t use it for real world p2p payments it will never reach its potential,” proclaims the app’s Google Play store page. The platform’s developers, who hail from a group called The Real Bitcoin Club, note their goal is to promote the adoption of cryptocurrencies without the participation of payment processors and government engagement. They suggest using bitcoin cash and dash as their low transaction fees allow everyone to participate, especially in regions such as Africa, South America and Asia. Businesses that want to be added to the map can file a request via email to trbc@bitcoinmap.cash. Do you find apps such as Bitcoinmap.cash helpful for the adoption of cryptocurrencies? Share your thoughts about the platform in the comments section below. Images courtesy of Shutterstock, Bitcoinmap.cash. At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more. Tags in this story App, BCH, bitcoin cash, Bitcoinmap.cash, Cryptocurrencies, dash, Locations, Map, Payments, platform, stores, The Daily Tip Lubomir Tassev Lubomir Tassev is a journalist…

Tor Digital Privacy Project Accepts Donations in Cryptocurrency

Tor Digital Privacy Project Accepts Donations in Cryptocurrency

Tor digital privacy software is now accepting donations in various cryptocurrencies, as a new crypto donational portal appeared on the project’s website on March 18. The site now accepts nine major cryptocurrencies, namely Bitcoin (BTC), Bitcoin Cash (BCH), Dash (DASH), Ethereum (ETH), Litecoin (LTC), Monero (XMR), Stellar Lumen (XLM), Augur (REP) and Zcash (ZEC). Tor’s crypto donation page encourages users to “stand up for the universal human rights to privacy and freedom and help keep Tor robust and secure.” The page also specifies that users can contact the project if they would prefer to donate in a cryptocurrency not listed there. The Tor Project is a non-profit that offers free and open-source software made for onion routing, the technology of anonymous information exchange. In addition, Tor has two official versions of its browser: Tor Browser and TorBro. The main purpose of using the Tor Browser is to remain anonymous and circumnavigate censorship by disguising an IP-address. At press time, the Tor Project has not responded to Cointelegraph’s request for comment on the addition of crypto donations. Countries wherein the internet has been heavily censored, such as Venezuela, Russia and China, have all introduced bans on Tor and similar tech, such as virtual private networks. Earlier this month, the head of the Finance Committee of France’s National Assembly suggested a ban on anonymous cryptocurrencies, or so-called privacy coins, such as ZEC and XMR. The Tor community and crypto community both share an ethos of privacy and decentralization. In 2017, Researchers from the University of Waterloo in Ontario, Canada and Concordia University in Quebec introduced a blockchain-based system which uses onion routing techniques to facilitate anonymous deliveries.

US Institutional Crypto Exchange Seed CX Expands to Asia With New Partnership

US Institutional Crypto Exchange Seed CX Expands to Asia With New Partnership

United States-based institutional cryptocurrency exchange Seed CX has partnered with Singapore-based fintech company Hydra X to offer its trading service in Asia. Seed CX announced the development in a press release published on March 21. Per the announcement, Seed CX will join the list of supported digital asset trading venues available on the Sigma trading platform offered by Hydra X, which is currently in public beta. The partnership will also reportedly allow institutional Sigma users to access Seed CX’s fiat-crypto gateway. Seed CX is a licensed digital asset exchange for both spot market and U.S. Commodities and Futures Trading Commission (CFTC)-regulated derivatives. As Cointelegraph reported at the time, Seed CX closed a $15 million funding round led by alternative investment firm Bain Capital in September last year. More recently, in January, the exchange launched an on-chain wallet solution and then also spot trading, with both solutions limited to institutional clients. An analysis released earlier this week by crypto index fund provider Bitwise Asset Management argued that 95 percent of volume on unregulated exchanges appears to be fake or non-economic in nature.

Win $5K of BCH Playing Cashgames From Bitcoin.com

Win $5K of BCH Playing Cashgames From Bitcoin.com

Bitcoin.com’s gaming portal is filled with a plethora of casino-style games that allow you to wager and win with bitcoin cash (BCH). Last week, one punter did just that, scooping $5,000 of BCH from a progressive slot. All of the games that feature on Bitcoin.com’s Cashgames portal are provably fair, with a typical return of 99% or greater. All it takes is a little BCH to participate. Also read: The Fed’s Low Interest Rates and QE Have Created a Dependent Generation Anonymous Player Wins 33 BCH Playing Cashgames Bitcoin and betting have long been synonymous, with the earliest use cases for the digital currency comprising simple high-low gambling games such as Satoshi Dice. There’s even evidence that Satoshi intended to incorporate a virtual poker game into Bitcoin’s first code. At Bitcoin.com, we’ve maintained this tradition by enabling people to participate in games of chance in which the outcome can be verified. This type of transparency is at the heart of peer-to-peer currencies such as bitcoin cash, which is a natural fit for provably fair gaming. On March 18, one anonymous player tried their luck on one of the Cashgames progressive slots, and won 33 BCH, worth over $5,000. Cashgames features an array of casino favorites including video poker, blackjack, roulette, craps and keno. There’s also slots and dice, with the latter game akin to the original Satoshi Dice that was once so popular among early bitcoiners. Because Cashgames is powered by BCH, fast and low cost deposits and payouts are guaranteed. Players can try out all of the games in testmode before electing to deposit bitcoin cash and play for real. If you don’t have BCH handy, Sideshift integration will enable you to switch from other cryptocurrencies such as BTC quickly and privately. Alternatively, there is a BTC-based version of the portal called Bitcoin Games. Win up to 4,000 BCH in One Go Whether you choose to bet big or stay small on Cashgames is your call. Because of its provably fair setup, the gaming portal gives players confidence in the outcome of each hand played, dice rolled, or roulette wheel spun. While residents of a handful of countries including the U.S. are not allowed to play for real BCH, Cashgames is accessible in most…

Streaming Service Twitch Removes Crypto Payment Options, Reddit User Reports

Streaming Service Twitch Removes Crypto Payment Options, Reddit User Reports

Amazon-owned streaming service Twitch has evidently removed Bitcoin (BTC) and Bitcoin Cash (BCH) as payment options for subscriptions. The change was reported by a Reddit user on March 23. The user noted that Twitch had offered an option to pay with BTC and BCH employing BitPay as a payment processor, but has since “removed it in the last couple of weeks as a payment method for all countries.” One user, seemingly outraged, noted that they canceled all of their Twitch subscriptions and sent an assistance ticket to the company. On March 20, another Reddit user claimed that Streamlabs — a popular streaming software widely used by Twitch users to receive tips — also removed support for cryptocurrency. According to the user, a new version of the software that has been recently released no longer contains support for crypto donations. Twitch has not responded to Cointelegraph’s request for comment on the move by press time. In June 2018, major travel booking website Expedia.com confirmed to Cointelegraph that it had also stopped accepting Bitcoin as a payment method for hotels or flights. As Cointelegraph reported in August 2016, Twitch previously offered Bitcoin as a payment option using Coinbase as a payment processing gateway. In September last year, the company’s former executive, Matthew DiPietro, joined crypto startup Kin Ecosystem Foundation as its chief marketing officer.