Night of the Living HODLers: Halloween 2018’s Best Crypto Costumes

Night of the Living HODLers: Halloween 2018’s Best Crypto Costumes

The cryptocurrency and blockchain communities got into the Halloween spirit this week – and as shown on social media, more than a few people went out in style. Last year saw costume takes such as “Bitcoin Bubble Boy” and a real-life private key, and that kind of imaginative spirit was on full display for 2018. This year’s Halloween also marked the 10-year anniversary of the release of the bitcoin white paper. In 2008, the pseudonymous creator of bitcoin, Satoshi Nakamoto, first circulated the paper among a list of influential cryptographers – thus setting the stage for the cryptocurrency’s formal launch the following January. (For a range of perspectives on the white paper’s significance ten years on, check out CoinDesk’s Bitcoin White Paper series.)  Given what could be called a dual holiday – in crypto circles, at least – his year’s Halloween costumes ran the proverbial gamut. A Reddit poster named “benevolinsolence” used a black-colored bodysuit in an effort to create a walking, talking blockchain. The results of that effort can be seen in the photo below: In a follow-up post, benevolinsolence revealed an update to the costume complete with glowsticks for the occasion. Even industry startups like Blockstream got into the Halloween spirit with some in-office costumes. Keeping in the spirit of the double-holiday, journalist Laura Shin dressed up as the bitcoin white paper itself. This group of revelers offered a unique take on the term “bitcoin miners,” including both a hard hate and a live-price ticker for bitcoin. As a subsequent tweet revealed, the group won first place in a costume contest. Some costume-wearers took on the topic of cryptocurrency forks (with an emphasis on the breakaway cryptocurrency bitcoin cash) this Halloween. All in all, the crypto community put its creative spirit to the test this Halloween. And while the results weren’t exactly spooky, they did showcase its lighter side for a change. Bitcoin, pumpkin and plastic spiders featured image via Shutterstock The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Brazil’s Tax Authority Goes After Cryptocurrency Profits

Brazil’s Tax Authority Goes After Cryptocurrency Profits

Taxes Brazil’s tax authority has published proposals to regulate the cryptocurrency landscape over concerns digital assets are being used to launder money and evade tax. A document released by the Department of Federal Revenue of Brasil (RFB) disclosed plans that will force cryptocurrency traders to reveal their identities and for exchanges to submit financial reports to the authority each month. Also Read: Africa Dominates Trade Volume on P2P Bitcoin Exchange Paxful   Draft Tax Guidelines Compel Exchanges to Furnish RFB With Monthly Financial Reports In proposals released earlier this week, the RFB stated that all digital currency exchanges in Brazil are now required to provide monthly updates of financial performance, including personal information of dealers. The ancillary obligations are for tax compliance purposes and also to prevent alleged money laundering, the regulator said. RFB indicated that this will help bring transparency and confidence to a sector that in the last five years has seen explosive growth – so big that the number of cryptocurrency investors has eclipsed that of those trading in common stocks on Brazil’s Sao Paulo-based B3 Stock Exchange. The draft means that traders would no longer be able to operate anonymously. Until now, anybody buying and selling bitcoin and other digital currencies have been able to do so anonymously, allegedly making it attractive to criminals and tax dodgers, the authority claims. According to the RFB, Brazilian residents and companies that transact more than 10,000 reals (about $2,700) on foreign cryptocurrency exchanges per month are required to report this information. Individuals who fail to comply by delaying tax declarations face a fine of $400 while a three-percent fee on the transaction value will be levied against those who lie about their income or provide insufficient information. Brazil’s Cryptocurrency Industry Sees Rapid Growth The value of cryptocurrency traded on exchanges in the Latin American country has swelled from just $12.1 million in 2014 to $2.24 billion at the end of last year, as investors piled into an industry which thrives on anonymity and less regulation. The Department of Federal Revenue of Brasil has guided trade volumes to reach between $4.86 billion and $12.15 billion this year. “The numbers, and their annual growth, demonstrate the relevance of the cryptocurrency market in Brazil, especially for the tax administration, since…

Regulations Roundup: Ebang IPO Challenged by Probe, Plattsburgh Passes Mining Guidelines

Regulations Roundup: Ebang IPO Challenged by Probe, Plattsburgh Passes Mining Guidelines

Regulation In recent regulatory news, a criminal investigation may prevent Ebang from conducting an initial public offering, Plattsburgh has passed new regulations governing commercial mining operations, and Ron Paul has endorsed precious metals and cryptocurrencies as a viable alternative to fiat currency. Also Read: Another Token Project Launches on the Bitcoin Cash Network Criminal Accusations Pose Hurdle to Ebang IPO Reports are alleging that major mining manufacturer Ebang Communications has become embroiled in a criminal investigation that may pose a challenge to the company’s initial public offering intentions. The investigation pertains to a transaction valued at 524.9 million Chinese yuan (approximately $76.18 million) between Ebang and wealth management company Yindou.com. Between March and April, it is alleged that Ebang transferred 380 million yuan (roughly $55.15 million) back to Yindou, leaving 144.9 million yuan (approximately $21 million). According to Sina Finance, Ebang is accused of receiving the remaining funds in exchange for potentially laundering money, inflating sales revenue, or collecting a fictitious sales contract in order to bolster the company’s chances at securing its attempted public listing on the Hong Kong Stock Exchange (Hkex). According to a rough translation, Sina asserts that investors “submitted questioning material to Hkex to prevent Ebang International from listing in Hong Kong” on Oct. 12. Plattsburgh Council Passes New Regulations for Commercial Miners The Plattsburgh Common Council has passed regulations mandating new noise and fire safety requirements for commercial mining facilities. The legislation was unanimously passed last week. According to Sun Community News, the new guidelines state that “no mining facility can produce noise above 90 decibels that can be heard further than 25 feet from the exterior of the building,” and mandate that miners apply for special use permits. The new rules will apply to miners operating in the City of Plattsburgh, New York in 11 months time – once the current 18-month moratorium on commercial mining in Plattsburgh has been lifted. Ron Paul Advocates Adoption of Precious Metals and Cryptocurrencies Retired American politician Ron Paul recently published an article describing the Federal Reserve as “crazy.” The article asserts that “government-created fiat currency” is “anything but stable,” arguing that “Central banks constantly increase and decrease the money supply in an attempt to control the economy by controlling the interest rates.” Paul argues…

Top 3 South Korean Crypto Exchanges Expand Overseas

Top 3 South Korean Crypto Exchanges Expand Overseas

Exchanges Three of South Korea’s largest cryptocurrency exchanges are expanding overseas. Upbit has launched a Singaporean crypto exchange with 156 coins and 221 trading pairs. Coinone has established a crypto exchange in Malta while Bithumb is planning to launch a security token platform in the U.S. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Bithumb to Launch US Security Token Platform One of South Korea’s largest crypto exchanges by trading volume, Bithumb, announced its partnership with U.S. fintech company Seriesone on Oct. 31. Under the agreement, “Bithumb is investing in a Seriesone entity in South Korea to scale technical development and marketing,” Seriesone detailed, elaborating: Bithumb and Seriesone will form a joint venture intended to create a new exchange in the United States that will offer a compliant marketplace to trade security tokens, subject to receipt of SEC, FINRA and other applicable regulatory approvals. Bithumb was recently acquired by Singapore-based Bk Global Consortium led by a plastic surgeon. The group inked a deal with BTC Korea Holdings, Bithumb’s largest shareholder at the time with 75.99 percent interest, to buy a controlling stake in the exchange. Seriesone recently appointed Kaine Kim, former deputy director of South Korea’s Financial Services Commission, as managing director of its South Korean operation and head of Asian operations. Upbit Singapore Now Live Another major crypto exchange in South Korea, the Kakao-backed Upbit, announced the official launch of its Singaporean exchange on Oct. 30. The new exchange is headed by Alex Kim, who previously served as the head of Kakao Indonesia, according to the Investor publication. Upbit, operated by Dunamu Inc., is a partner of U.S.-based exchange Bittrex. Dunamu CEO Lee Sir-goo said in September that Upbit will continue to strengthen its partnership with Bittrex as it makes a foray into global markets. Noting that Upbit Singapore will initially support only one fiat currency, the Singapore dollar (SGD), he described: In the future, we would like to add other fiat currencies and expand in other Southeast Asian countries. With 156 coins and 221 trading pairs listed currently, Upbit Singapore supports trading in the SGD, BTC, ETH, and USDT markets. “Any user who cleared identity verification” can use the exchange, Upbit Singapore clarified. For the grand opening, all new users are offered zero-percent trading fees…

Alert Key and Alert System Vulnerabilities Disclosure

Alert Key and Alert System Vulnerabilities Disclosure

The bitcoin alert keys are disclosed in this blog post, followed by a description of the purpose of this information and its history. The bitcoin alert system has been completely retired. The network is not at risk and this warning may be safely ignored if you do not have an ancient node (running v0.12.x or older) using the deprecated bitcoin alert system or its public keys. mainnet public key: 04fc9702847840aaf195de8442ebecedf5b095cdbb9bc716bda9110971b28a49e0ead8564ff0db22209e0374782c093bb899692d524e9d6a6956e7c5ecbcd68284 mainnet private key: 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 testnet public key: 04302390343f91cc401d56d68b123028bf52e5fca1939df127f63c6467cdf9c8e2c14b61104cf817d0b780da337893ecc4aaff1309e536162dabbdb45200ca2b0a testnet private key: 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 These are openssl-serialized private keys. In 2016, a plan was proposed for the completion of the retirement of the bitcoin alert system which included the idea of revealing the alert system private keys. The proposal still contains good information regarding the purpose and intention of alert system retirement and motivation for the disclosure of the private keys. Additionally, an overview of the alert system retirement and its timeline is available on the web. This disclosure was recently discussed in an IRC meeting logs. A media site also recently discussed this topic. One of the reasons for disclosure of the keys is to mitigate the effects of unknown dissemination and proliferation of the keys. By broadcasting the values to make them available to everyone, the value of the keys is intended to be to be eliminated, since now everyone could feasibly sign messages, the value of the signed messages becomes zero. Vulnerabilities in the Bitcoin Alert system The following text discloses a number of known vulnerabilities in the alert system. The Alert System previously utilized by Bitcoin has several issues (some of which may be classified as vulnerabilities). These issues no longer exist in Bitcoin as of network protocol version 700013 which was released with Bitcoin Core 0.13.0. Many altcoins and Bitcoin client implementations were notified of the Alert System’s removal and have since removed the alert system themselves or transitioned to using an Alert system that does not share an Alert Key with Bitcoin. All of the issues described below allow an attacker in possession of the Alert Key to perform a Denial of Service attack on nodes that still support the Alert system. These issues involve the exhaustion of memory which causes node software to crash or be killed due to excessive…

Top Three South Korean Cryptocurrency Exchanges Expand Overseas

Top Three South Korean Cryptocurrency Exchanges Expand Overseas

Exchanges Three of South Korea’s largest cryptocurrency exchanges are expanding overseas. Upbit has launched a Singaporean crypto exchange with 156 coins and 221 trading pairs. Coinone has established a crypto exchange in Malta while Bithumb is planning to launch a security token platform in the U.S. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Bithumb to Launch US Security Token Platform One of South Korea’s largest crypto exchanges by trading volume, Bithumb, announced its partnership with U.S. fintech company Seriesone on Oct. 31. Under the agreement, “Bithumb is investing in a Seriesone entity in South Korea to scale technical development and marketing,” Seriesone detailed, elaborating: Bithumb and Seriesone will form a joint venture intended to create a new exchange in the United States that will offer a compliant marketplace to trade security tokens, subject to receipt of SEC, FINRA and other applicable regulatory approvals. Bithumb was recently acquired by Singapore-based Bk Global Consortium led by a plastic surgeon. The group inked a deal with BTC Korea Holdings, Bithumb’s largest shareholder at the time with 75.99 percent interest, to buy a controlling stake in the exchange. Seriesone recently appointed Kaine Kim, former deputy director of South Korea’s Financial Services Commission, as managing director of its South Korean operation and head of Asian operations. Upbit Singapore Now Live Another major crypto exchange in South Korea, the Kakao-backed Upbit, announced the official launch of its Singaporean exchange on Oct. 30. The new exchange is headed by Alex Kim, who previously served as the head of Kakao Indonesia, according to the Investor publication. Upbit, operated by Dunamu Inc., is a partner of U.S.-based exchange Bittrex. Dunamu CEO Lee Sir-goo said in September that Upbit will continue to strengthen its partnership with Bittrex as it makes a foray into global markets. Noting that Upbit Singapore will initially support only one fiat currency, the Singapore dollar (SGD), he described: In the future, we would like to add other fiat currencies and expand in other Southeast Asian countries. With 156 coins and 221 trading pairs listed currently, Upbit Singapore supports trading in the SGD, BTC, ETH, and USDT markets. “Any user who cleared identity verification” can use the exchange, Upbit Singapore clarified. For the grand opening, all new users are offered zero-percent trading fees…

Another Token Project Launches on the Bitcoin Cash Network

Another Token Project Launches on the Bitcoin Cash Network

Technology & Security A new smart contract and tokenization system has been launched on the Bitcoin Cash (BCH) network. On Oct. 31, BCH developer Clemens Ley released the alpha version of Bitcoin Token, a Javascript library built to develop autonomous contracts, BCH-based tokens, and integrate payments into web applications. Also read: New Bitcoin Cash Stress Test Sees 700,000 Transactions in One Day Project Bitcoin Token Launches Alpha Version In August, news.Bitcoin.com reported on a project called Bitcoin Token developed by software programmer Clemens Ley. At the time, the developer explained that the project was in its prototype stage and had plans to launch at the end of the year. Now the creator has launched the alpha version of Bitcoin Token, which gives developers three tools to enable the assembly of applications on the Bitcoin Cash network. The software contains a wallet, a database, and the token solution. The 0.0.1 alpha has been downloaded 103 times. The Bitcoin Token project has published documentation on compiling the implementation as well. The specifications detail the program’s tech-stack which includes the application build, tokenization abilities, Bitdb, and the source containing a readable Javascript BCH implementation. However, the source code is not publicly available yet but the developer is offering an early version by email. The Bitcoin Token creator says that the project’s alpha release currently supports fungible tokens, which operate similarly to Ethereum’s ERC-20 tokens. At the moment smart contract support on Bitcoin Token is not yet available. Clemens Ley’s Creation Becomes the 5th BCH-Based Token Project Clemens Ley. The Bitcoin Token project was welcomed by the BCH community when the alpha release was announced on Twitter and Reddit. Some commenters on Reddit liked the idea that Bitcoin Token was an alternative to Wormhole while others asked why the source code was not yet available. Ley’s project joins the slew of other token projects that have been introduced to the Bitcoin Cash network like the Simple Ledger Protocol, Colored Coins, Keoken, and of course Wormhole. Even though the Bitcoin Token protocol uses a similar system to ERC-20, tokens will not clog up the chain with crypto-kittie coins. Ley firmly believes the BCH chain can do far better than the Ethereum network’s token process coupled with scaling. “Bitcoin Cash can do pretty much everything…

Crypto Markets Keep Trading Sideways, With Slight Gains Among the Top 20 Coins

Crypto Markets Keep Trading Sideways, With Slight Gains Among the Top 20 Coins

Nov. 2: Cryptocurrency markets have continued trading slightly in the green today, remaining relatively quiet with moderate gains throughout the top 20 coins. Most of the top 100 digital currencies have experienced humble gains over the past 24 hours. Market visualization from Coin360 The leading cryptocurrency Bitcoin (BTC) is up only 0.06 percent on the day, and is trading at around $6,395 as of press time. BTC has seen slight volatility during the day, with the deepest and highest points of $6,327 and $6,396 respectively. Bitcoin 24-hour chart. Source: CoinMarketCap Ethereum (ETH) is up by slightly almost 1 percent over the last 24 hours, trading around $200, and the altcoin’s weekly chart showing its price decreasing by a relatively modest 0.41 percent. After dipping to its weekly low of $193.29 on Oct. 31, ETH has been steadily gaining in price. Ethereum 24-hour chart. Source: CoinMarketCap The third largest cryptocurrency by market cap Ripple (XRP) is up by 0.57 percent over the last 24 hours, and trading around $0.459 at press time. Over the past seven days, XRP is down by 0.06 percent. XRP 24-hour chart. Source: CoinMarketCap Bitcoin Cash (BCH) has stood out among other top 10 coins, making gains of 9 percent on the day. The altcoin is trading at around $462, while its daily trading volume is around $522 million, according to CoinMarketCap. On its weekly chart, BCH rose to as high as $469 following a dive to $411. Bitcoin Cash 24-hour chart. Source: CoinMarketCap During the last week, total market cap has seen some notable fluctuations, with a sudden dive to $202 billion and surge to $209 billion on Oct. 29 and Nov. 1 respectively. After jumping to as much as $209 billion yesterday, total market capitalization dropped to $205 billion, after which it saw moderate gains today. Total market capitalization weekly chart. Source: CoinMarketCap The industry has been awaiting the decision of the U.S. Securities and Exchange Commission (SEC) regarding the review of proposed rule changes related to a series of applications to list and trade various BTC Exchange-Traded Fund (ETFs) set for Nov. 5. Yesterday, the so-called “godfather of ETFs” Reggie Browne said that Bitcoin ETFs will be certified “no time soon.” He specified that Bitcoin ETFs will be approved…

There’s a New Plan to Build the Hardware for Ethereum 2.0

There’s a New Plan to Build the Hardware for Ethereum 2.0

The Ethereum Foundation is funding efforts to create specializing mining hardware in partnership with blockchain data storage network Filecoin. Announced Thursday at Devcon, the annual gathering of developers in Prague, Ethereum Foundation researcher Justin Drake unveiled preliminary designs for application-specific integrated circuits, or ASICs, that will support an upcoming ethereum technology called the “beacon chain.” In essence, the beacon chain is a random number generator, and it’s expected to form part of the next major iteration of the ethereum network – ethereum 2.0 – under an alternative, proof-of-stake consensus protocol (compared to the proof-of-work approach utilized today). While the term “ASIC” in the cryptocurrency space is more commonly associated with the technology applied to mining, the proposed ethereum 2.0 hardware isn’t engaging in that same, computationally-intensive process. Instead, these ASIC devices will engage in a comparatively less costly operation known as the Verifiable Delay Function. This helps to shuffle the validators that are intended to replace miners in ethereum’s proof-of-stake system. The idea is that the hardware will prevent any one individual or organization from coalescing enough power to overtake system operations. All told, the project is estimated to cost between $20 million and $30 million, according to Drake. That includes $15 million to $25 million for research and development, as well as $5 million to build an estimated 5,000 machines. What’s more, the Ethereum Foundation and Filecoin – which raised more than $250 million through an initial coin offering (ICO) last year – will be splitting costs for project research and development fifty-fifty. Their overall commitments could be reduced, as Drake left the door open to other blockchain projects contributing funds. Looking at the work ahead, Drake struck a positive tone – particularly the prospect of designing and implementing the plan in an open-source fashion. “Open-source ASICs haven’t really been done before so it’s all very exciting for me,” Drake remarked. Photo of Justin Drake taken by Phil Lucsok The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Coinbase Launches Support for Basic Attention Token (BAT)

Coinbase Launches Support for Basic Attention Token (BAT)

Major U.S. cryptocurrency exchange Coinbase has announced it is accepting inbound transfers of Basic Attention Token (BAT) to Coinbase Pro, according to a blog post published Nov. 2. Coinbase added support for BAT tokens on its Coinbase Pro platform, while it will enable trading on the BAT/USD order book only when sufficient liquidity is established. Coinbase notes that BAT trading will be available in most jurisdictions, except for residents of the state of New York. BAT is not currently available on the exchange’s platform Coinbase.com and in its iOS and Android applications. Per the post, the BAT trading will go through four stages, including “transfer-only,” where users will be able to transfer BAT into Coinbase Pro accounts, “post-only,” which will enable customers to post limit orders. The other two stages include “limit-only,” where limit orders start matching, and the final stage “full trading,” which gives full access to trading services, including limit, market, and stop orders. Following Coinbase’s announcement, the BAT price surged by more than 20 percent on the day, reaching $0.315, according to CoinMarketCap. The altcoin’s market capitalization is around $305 million, while its daily trading volume is more than $42 million. BAT is an Ethereum-based token integrated with the blockchain-powered privacy-focused web browser Brave. Durings its Initial Coin Offering (ICO) for BAT, Brave raised $35 million in 30 seconds. In October, Coinbase launched trading for 0x (ZRX), making it the first ERC-20 token available for trade on the platform. In the same month, the exchange also launched the first U.S.dollar stablecoin on the platform, USDC, in partnership with blockchain-powered payments technology company Circle.