NEO Is in Talks to Integrate Celer Network to Improve Scalability

Source From https://cointelegraph.com/news/neo-is-in-talks-to-integrate-celer-network-to-improve-scalability

Blockchain project NEO is considering integrating Celer Networks layer-two scaling protocol to improve scalability.

Blockchain project NEO is considering integrating Celer Network’s (CELR) layer-two scaling protocol to improve scalability.

Faster transactions, more possibilities

As industry-focused news outlet Crypto Briefing reported on Aug. 17, John Wang, NEO’s director of Eco Growth, said that integration with Celer is under discussion. Celer’s platform is a solution that enables faster off-chain transactions both for payments and generalized off-chain smart contracts. 

To transfer value across the network, Celer uses its native CELR tokes. According to the report, community members say that Celer is fifteen times faster than Bitcoin’s (BTC) Lightning Network. Commenting on the development, Wang said:

“A public blockchain is more than a currency: it needs to have the infrastructure for lots of users to come to it … to enable people to do anything.”

New prospects for scaling

In March, major crypto exchange Binance’s token launch platform, Binance Launchpad, completed a $4 million sale of CELR tokens, following two other initial coin offerings such as the BitTorrent (BTT) token sale in January and the Fetch.AI (FET) token sale in February.

Earlier in August, blockchain-based decentralized application platform (DApps) Tron (TRX) released a sidechain scaling solution, the V1.0 code, designed to enhance and ensure the supposedly unlimited scaling capacity of the Tron mainnet. This will purportedly let DApps consume less energy and run with higher security and efficiency on Tron.

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Craig Wright’s Motion to Dismiss Lawsuit Rejected Over Lack of Credibility

Source From https://bitcoinmagazine.com/articles/craig-wrights-motion-to-dismiss-lawsuit-rejected-over-lack-of-credibility

U.S. District Court Judge Beth Bloom has rejected Craig Wright’s motion to dismiss a lawsuit against him, primarily based on a perceived lack of credibility on his part.

Craig Wright, the creator of Bitcoin Cash fork Bitcoin SV and the self-proclaimed true identity behind Satoshi Nakamoto, the pseudonymous creator of Bitcoin, has long been a contentious figure in the crypto asset space. The cryptocurrency community has largely condemned Wright’s lack of evidence to prove this claim.

Nevertheless, Wright has aggressively defended his claim, even going so far as to pursue libel charges against a prominent Bitcoiner who disputed it. Now, this aggression has apparently come to work against Wright, as it has helped to undermine his credibility in the eyes of the court.

Current Lawsuit

In February 2018, the brother of one of Wright’s late business partners filed a suit against Wright over the alleged misplacement of more than 1 million bitcoin. Naturally, with such an astronomical sum of money involved, the proceedings of this suit have stalled. On April 15, 2019, Wright filed a motion to claim that the court does not have jurisdiction over the case. Judge Bloom has now rejected this claim for a number of reasons, stating that “the Court simply does not find the Defendant’s testimony to be credible.” She said that even as Wright argued that his own “numerous conflicting statements are the very reason confusion has been created … the Court should nonetheless use these statements as a basis to challenge the Court’s subject matter jurisdiction.” 

Bloom rejected several of Wright’s claims in unsympathetic terms, going so far as to quote 18th century Scottish poet Sir Walter Scott: “Oh! What a tangled web we weave when first we practice to deceive!” 

With more than a year having passed since the original filing of the lawsuit, and clear indication that the presiding judge has doubts about Wright’s credibility, it seems likely that the suit will move forward in the near future.

The post Craig Wright’s Motion to Dismiss Lawsuit Rejected Over Lack of Credibility appeared first on Bitcoin Magazine.

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Bitcoin Price Analysis: Higher Lows Test Bullish Resolve

Source From https://bitcoinmagazine.com/articles/bitcoin-price-analysis-higher-lows-test-bullish-resolve

Summary:

  1. After a very strong round of selling that dropped the price almost $2,000 in just a couple of days, the market managed to find support at an important macro level.
  2. The support rally marked a third, higher high for our current market and it rallied on very high volume and spread.
  3. The market is currently situated between two strong levels and, until one of them gives way, it’s possible that we’ll see a strong bit of chop. If we manage to break the overhanging resistance the upside target lies around $11,200 to $11,300. However, if support breaks we are most likely looking at a retest of the $9,200 zone.

Trading and investing in digital assets like bitcoin is highly speculative and comes with many risks. This price analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Inc sites do not necessarily reflect the opinion of BTC Inc. They should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.

The post Bitcoin Price Analysis: Higher Lows Test Bullish Resolve appeared first on Bitcoin Magazine.

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Crypto Press’s Morning Crypto News Digest – 8/17/2019 12:01:27 PM – UTC

Source From https://crypto.press/2019/08/17/crypto-presss-morning-crypto-news-digest-8172019-120127-pm-utc/


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Bitcoin_Logo-bitcoin-latest-price-daily-price-information 8/17/2019 12:00:00 PM,$BTC | #BTC – bitcoin’s Current Price: ▼ $10367.6028 | 1h ▼ : -0.36 % | 24h ▲ : 2.66 % | 7d ▼ : -10.75% | More on: Bitcoin Information

thereum-news-ethereum-price-information-ETHEREUM-ICON_Black 8/17/2019 12:00:00 PM,$ETH | #ETH – ethereum’s Current Price: ▼ $185.7637 | 1h ▼ : -0.05 % | 24h ▲ : 1.0 % | 7d ▼ : -10.8% | More on: Ethereum Information

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Crypto Lender Nexo Pays Token Holders Over $2.4 Million in Dividends
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2019-08-17

:
Nexo has paid $2.4 million in dividends to its token holders, claiming an annualized dividend yield of 12.73%
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QuadrigaCX Users Request Details on How EY Lost 103 Bitcoins

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2019-08-17

Lost in the audit: QuadrigaCX’s users are still trying to find the missing 103 Bitcoins

Crypto Community Reacts to Bakkt But Not all Are Bullish

:
2019-08-17

The news that regulatory approval has finally been granted to Bakkt has generally been perceived as bullish for the industry. However, not all in the crypto community are convinced that it is the best thing for Bitcoin and its brethren.nHow Bullish Is Bakkt?nAs reported yesterday by NewsBTC, the Intercontinental Exchange’s (ICE) new crypto trading platform has finally been given the go-ahead. A September 23 launch date has been set following regulatory approval by the …

Price Analysis 17/08: BTC, ETH, XRP, BCH, LTC, BNB, EOS, BSV, XMR, XLM

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2019-08-17

With altcoins falling to new yearly lows, will Bitcoin also cave or will it continue to outperform? Let’s consult the charts

Court Allows Blockchain.com’s Trademark Lawsuit Against Paymium to Proceed

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2019-08-17

Clash of ledgers: Blockchain’s trademark lawsuit against Paymium continues

Bitcoin (BTC) Price Hesitates But Further Recovery Seem Likely

:
2019-08-17

Bitcoin price tested the $9,800 support and bounced back against the US Dollar.nThe price is currently struggling to gain momentum above $10,400 and $10,500.nThere is a key contracting triangle forming with resistance near $10,550 on the hourly chart of the BTC/USD pair (data feed from Kraken).nThe price is likely to slowly rise as long as it is trading above the $9,800 support area.nnBitcoin price is showing positive signs above the $9,800 support against the US Dollar. BTC …

Bitcoin, Bitcoin Cash, and Binance Coin Price Prediction and Analysis for August 17th: BTC, BCH, and BNB

:
2019-08-17

Bitcoin Price Analysis (BTC/USD)nOn an intraday chart, the price of BTC/USD pair has further dipped from the previous price of 10473.00 and is currently changing hands at $9917.57 that translated to an intraday dip of 5.3%.  The bulls seemed to have lacked the means or strategy to pull up the market momentum. This was reflected by the 21 day MA that hovered above the 7 day MA over the last 24hrs.nThe RSI was also seen trading below the oversold territory that signaled a buy …

Bitcoin SV Devs to Offer ‘Office Hours’ for Project Assistance, Consulting

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2019-08-17

A Bitcoin SV developer has launched a service for chatting and consulting with professional Bitcoin SV devs

Crypto Lender Nexo Pays Token Holders Over $2.4 Million in Dividends

:
2019-08-17

Nexo has paid $2.4 million in dividends to its token holders, claiming an annualized dividend yield of 12.73%


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Crypto Press’s Evening Crypto News Digest – 8/17/2019 12:01:24 AM – UTC

Source From https://crypto.press/2019/08/17/crypto-presss-evening-crypto-news-digest-8172019-120124-am-utc/


crypto-press-header-crypto-currency-news-pricing-information-daily-news-digest-crypto-news

Bitcoin_Logo-bitcoin-latest-price-daily-price-information 8/17/2019 12:00:00 AM,$BTC | #BTC – bitcoin’s Current Price: ▼ $10358.7225 | 1h ▼ : -0.35 % | 24h ▼ : -0.01 % | 7d ▼ : -12.57% | More on: Bitcoin Information

thereum-news-ethereum-price-information-ETHEREUM-ICON_Black 8/17/2019 12:00:00 AM,$ETH | #ETH – ethereum’s Current Price: ▼ $185.5317 | 1h ▼ : -0.21 % | 24h ▼ : -1.49 % | 7d ▼ : -12.06% | More on: Ethereum Information

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These Bitcoin Users Want DAI and DeFi – Here’s How They Plan to Get It
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2019-08-16

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The Cross-Chain Working Group project will (almost) enable bitcoin transactions on ethereum, opening up a new world of interacting smart contracts.
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Missed Out On That Lambo When Bitcoin Was At $20,000? Here’s Your Second Chance

FreeBitco.in, the oldest bitcoin faucet after 6 years of continuous operation, have announced that they will be giving away a Lamborghini Huracan as one of the potential prizes in their Golden Ticket Competition.nOwning a lambo has been one of the many desired status symbols that has come from the HODL culture surrounding cryptocurrency. nFor those unfamiliar with HODL, it’s essentially an extreme version of long term buying and holding tactics that you would see some mutual …

FinCEN Director Addresses Casino Compliance With Obligations Regarding Crypto

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2019-08-16

FinCEN director Kenneth Blanco points out a gap in reporting by casinos on suspicious crypto-related activity

SpaceX CEO Elon Musk Wants to ‘Nuke Mars’ to Prep It for Colonization

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2019-08-16

By CCN Markets: Billionaire Elon Musk, the CEO of Tesla and SpaceX, reiterated his calls to

Ethereum Price Prediction and Analysis For August 16th – ETH Declining, Crypto Community Expecting Growth

:
2019-08-16

By Dmitriy Gurkovskiy, Chief Analyst at RoboForexnThe second cryptocurrency in terms of capitalization, the Ethereum, continues a declining correction. The test of the important support level of $165 is close; if it happens, the buyers will have to demonstrate a bounce in order to prevent further decline. It is possible that the ETH is falling in connection with a strong correction of the Bitcoin. All altcoins, in general, remain under pressure, and some say that the times …

Biggest Crypto Hedge Funds and What They Tell About the Market

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2019-08-16

The five biggest cryptocurrency hedge funds and why institutional investors are vital to crypto’s growth

Bitcoin Space Reacts to Bakkt’s September Launch Date Reveal

:
2019-08-16

The long-awaited Bakkt platform has finally been given an official launch date. The regulated Bitcoin futures platform will go live on September 23, 2019.nNaturally, the Bitcoin and wider cryptocurrency community has greeted the news with optimism. The price of Bitcoin has responded favourably in the short time since Bakkt made the announcement too.nWait, Weren’t There Bitcoin Bears Here Yesterday?nYou probably know all about Bakkt by now. The cryptocurrency and …

Coinbase Accidentally Saves Unencrypted Passwords of 3,420 Customers

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2019-08-16

Coinbase announced that it accidentally saved the clear-text passwords of over 3,000 customers due to a rare bug

These Bitcoin Users Want DAI and DeFi – Here’s How They Plan to Get It

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2019-08-16

The Cross-Chain Working Group project will (almost) enable bitcoin transactions on ethereum, opening up a new world of interacting smart contracts.


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Cryptocurrency Miner Maker Coinmine Raises $2.5 Million

Source From https://bitcoinmagazine.com/articles/cryptocurrency-miner-maker-coinmine-raises-2-5-million

Coinmine, Inc., the creator of the Coinmine One cryptocurrency mining device, has raised $2.5 million in a funding round led by Los Angeles-based M13 Ventures with participation from Republic Labs, Gumi Crypto, Canaan Beta and early Uber investor Shervin Pishevar, the company’s CEO and co-founder, Farbood Nivi, told Bitcoin Magazine.

The new funding round brings the total amount raised by Coinmine to $4.5 million. Early backers of the startup include Coinbase Ventures, Social Leverage, Wonder VC, Arrington Capital and angel investors including Balaji Srinivasan, co-founder of Earn.com, and Brian Norgard, chief product officer of Tinder.

Launched in November 2018, California-based Coinmine is the maker of the Coinmine One, a cryptocurrency miner targeted at mainstream users. The miner has an accompanying mobile app which allows users to set up, control and keep track of their miner’s activity. 

At launch, the Coinmine One was able to mine monero, zcash, grin and ether, and in June 2019, the company added the ability for users to receive payouts in bitcoin. The device doesn’t mine bitcoin directly but instead algorithmically selects “whatever converts best to bitcoin.” These bitcoin payouts are calculated based on “current market prices,” Jinny Kang, head of public relations and partnerships at Coinmine, told Bitcoin Magazine.

Since April 2019, the company has been growing over 50 percent month-over-month only from word of mouth, Nivi said. He declined to share specific sales or revenue figures but said that the company was on track to beat its 2019 sales targets.

Nivi also said that the company will use the capital injection to expand the cryptocurrencies available through the device, add new services and ship over-the-air updates with improvements like increased hash power and energy efficiency.

The Coinmine One Cryptocurrency Miner

Coinmine claims its Coinmine One miner is the world’s “first all-in-one crypto device” made for the average consumer. The device isn’t meant to get users rich overnight, but rather to help them get started with cryptocurrencies, and allow them to mine new tokens and run a full node on the network.  

Users don’t need to have any previous experience or expertise with cryptocurrency mining, and the set up is relatively easy and straightforward: just plug the miner into a wall outlet, install the mobile app, connect the Coinmine One to WiFi through the app and select a coin to start mining. The cryptocurrencies mined are then immediately stored in the in-app digital wallet.

All devices come with a full version of the Bitcoin blockchain and a Lightning Network Daemon (LND). Nivi said that Lightning functionalities should be turned on and available later this year with another wireless update.

“You’ll be able to send and receive bitcoin directly from your Coinmine One — instantly and for free,” he said. “You’ll also help Bitcoin succeed by helping other people route bitcoin payments through your Coinmine One and you’ll even earn a little bitcoin for doing that.”

The MineOS Operating System

The Coinmine One miner is powered by a proprietary operating system called MineOS, which the company started building internally in 2018.

Some of MineOS’s unique features include automated overclocking and undervolting hardware on the fly, as well as automated updating and upgrading over the air.

Updates so far in 2019 include the reduction of the Coinmine One energy consumption by 30 percent, the addition of bitcoin payouts, support for grin mining and the increase of ether hashrate by 5 percent.

Moving forward, Nivi said that Coinmine plans to add support for handshake (HNS) mining as well as new services and features such as the ability for users to earn interest on their cryptocurrency.

“There are decentralized finance services like Compound Finance that let you earn interest on your crypto and you can take your principal out whenever you want,” he said. “So we can invest the crypto your Coinmine One is making into a service like that and earn you interest. We plan to launch it this year.”

The post Cryptocurrency Miner Maker Coinmine Raises $2.5 Million appeared first on Bitcoin Magazine.

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Hong Kong Protest Leader Hopes to Incite Run on Chinese Banks

Source From https://news.bitcoin.com/hong-kong-protest-leader-hopes-to-incite-run-on-chinese-banks/

Hong Kong Protest Leader Hopes to Incite Run on Chinese Banks

The 11th week of protesting in Hong Kong has passed as the world has witnessed massive sit-ins at the national airport and demonstrations across several locations citywide. The 2019 anti-extradition bill protests have affected Hong Kong’s local economy, investors have dumped on the benchmark Hang Seng index, and now pro-independence activist, Chen Haotian, has called upon the country’s citizens to withdraw bank deposits. The chairman of the Hong Kong National Party, Haotian further told the public that the “primary goal” of the bank run is to target “Chinese banks.”

Also Read: Bitcoin Trades for a Premium in Hong Kong During Protests

Hong Kong Independence Activist Proposes a Run on Chinese Banks

The protests in Hong Kong have been taking place now for many weeks and just recently things started escalating. It all began in March, with tens of thousands of Hong Kong residents taking to the streets to protest the 2019 extradition bill. If the bill is enacted into law, it would allow Chinese authorities to come in and extradite any Hong Kong citizen to mainland China if they are accused of a crime. In April and June, protests gathered a lot of momentum and in the eyes of many Hong Kong residents, the fight has turned into a giant independence movement in order to secede from China’s rule. On Sunday, June 16, the streets of downtown Victoria Park were filled with protestors who marched against the Chinese government’s communist rule. This week on August 12, the country’s airport had to suspend flights for days because thousands of protestors used the international travel hub for a demonstration sit-in.

Hong Kong Protest Leader Hopes to Incite Run on Chinese Banks
Hong Kong International Airport.

Now, chairman of the Hong Kong National Party and well known independence activist, Chen Haotian, is calling for a bank run on Chinese banking entities. The term: ‘run on a bank’ describes the situation where a very large group of people withdraw funds from their financial institution at the same time. The bank run act could cause a bank to basically stop functioning, due to the fact that most financial institutions today operate with fractional reserves. Essentially, if a great majority of depositors run on a bank most likely there are not enough funds to go around to everybody who initially deposited. On August 15, China Press reported:

[Chen Haotian] called on Friday (August 16) that Hong Kong citizens take out all bank deposits. The primary goal is Chinese banks, but [Haotian] said other banks should also be targeted, otherwise Chinese banks can borrow money from other banks to solve problems.

Hong Kong Protest Leader Hopes to Incite Run on Chinese Banks
Pro-independence activist, Chen Haotian.

The Threat of a Massive Bank Run Is Serious

The news of a bank run follows the reports of Hong Kong investors dumping the country’s most valuable stocks amid the protests. Some have speculated that these funds have moved into alternative markets like cryptocurrencies and precious metals. The bank run threat in the country should be taken seriously as Hong Kong has had bank runs in the past and even attempts during the 2008 financial crisis. At the time, the people thought the Bank of East Asia (BEA) would fall to insurmountable withdrawals after rumors sent thousands of Hong Kong residents to bank branches during a citywide run. Citizens flocked to BEA branches to withdraw deposits, but BEA executive Li Ka-Shing and the Hong Kong Monetary Authority (HKMA) told the public the institution was financially sound.

Hong Kong Protest Leader Hopes to Incite Run on Chinese Banks
Police have tear-gassed protestors in the streets and railways in Hong Kong. At the airport sit-ins over 700 protestors have been arrested for “taking part in a riot” and “unlawful assembly.”

Prior to that fiasco, the people of Hong Kong witnessed a multi-day bank run in August 1991, when thousands of depositors ran on the financial institutions Standard Chartered Bank and Citibank Hong Kong. Politicians were not pleased with Hong Kong residents and David Nendick, the Secretary for Monetary Affairs, called the banks runs “malicious.” At the time, one Hong Kong citizen standing in the long bank run lines at Standard Chartered, said: “Nobody listens to the government any more — Better to listen to your friends and neighbors and to other reports.” Nendick, however, told the public that Hong Kong would wind up being “the laughing stock of the financial world” if the bank run antics kept up. At that time in 1991, Hong Kong was still a British dependent territory, but the sovereignty over Hong Kong was transferred to China in 1997. Many residents who live within the nation have wanted independence from China for quite some time and two years after the Occupy Wall Street protests, the Umbrella Movement pushed this cause to the forefront.

Hong Kong Protest Leader Hopes to Incite Run on Chinese Banks
Bank runs in Hong Kong have happened before. Back in 1991 and during the worldwide financial crisis of 2008. Chinese banks were hit on the mainland during the Umbella Movement protests of 2014.

The World Is Watching

Just like today, the Umbrella Movement and other Hong Kong protestors wanted independence from China after the Standing Committee of the National People’s Congress (NPCSC) added reforms to the country’s electoral system. That same year, in 2014, a large Chinese financial institution was targeted after rumors spread that Jiangsu Sheyang Rural Commercial Bank in China was on the brink of liquidation. The Reuters journalist reporting from the scene stated that the financial institution decided to stay open 24-hours. The bank was allegedly bringing in truckloads of cash in armored cars to gratify depositors. Meanwhile, the Umbrella Movement urged Hong Kong citizens to continue protesting and China censored images of the 2014 protests on the mainland.

The 2019 protests in Hong Kong have a lingering resemblance to the prior Umbrella demonstrations. There likely won’t be a surge of Hong Kong citizens swiftly moving into cryptocurrencies if a bank run happens, but economic events like these have definitely given digital currencies and precious metal markets a push upwards in recent weeks. For decades now China has ruled over Hong Kong and history shows that individuals pursuing independence and autonomy have always found a way to succeed. Bank run or not, the world’s eyes are fixated on Hong Kong just as they were during the protests in Paris.

What do you think about the independence activist Chen Haotian inciting a bank run in Hong Kong against Chinese banks? Let us know what you think about this subject in the comments section below.


Image credits: Shutterstock, Pixabay, Wiki Commons, Getty, AP, and Zerohedge.


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The post Hong Kong Protest Leader Hopes to Incite Run on Chinese Banks appeared first on Bitcoin News.

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