Crypto Community Erupts Over Ethereum Foundation Member’s Arrest

On Friday the United States Attorney’s Office for the Southern District of New York (SDNY) announced the arrest of Ethereum Foundation member Virgil Griffith for allegedly “assisting North Korea in evading sanctions” by teaching “his audience how to use blockchain technology.” After the Manhattan U.S. Attorney revealed the news, the cryptocurrency community erupted in outrage. Also read: German Banks Authorized to Store and Sell Cryptocurrency in 2020 US Attorney’s Office Arrests Virgil Griffith for Teaching Blockchain Technology to North Koreans The U.S. Attorney SDNY and the Federal Bureau of Investigation…

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Bitcoin Cash Double Spend Statistics Invoke 0-Confirmation Debate

On November 28, the creator of doublespend.cash, a web portal that tracks and collects double spend attempts on the Bitcoin Cash network, explained that only 1 out of 1,105 double spends succeeds when they broadcast one second after the first transaction. The website’s creator highlighted that in most cases “only when submitted simultaneously, can a double spend succeed.” Also read: German Banks Authorized to Store and Sell Cryptocurrency in 2020 BCH Proponents Discuss Double Spends, Honoring the ‘First Seen,’ and Current Zero-Confirmation Security Bitcoin Cash (BCH) participants have always been…

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German Banks Authorized to Store and Sell Cryptocurrency in 2020

Next year German banks will be able to manage cryptocurrencies like bitcoin after the fourth EU money laundering directive goes into effect. The directive passed in the German parliament, Bundestag, allows banks in the country to act as cryptocurrency custodians rather than rely on third-party custodial services. Also read: Germany Barely Avoids Recession, Economy Remains Stagnated German Banks Will Soon Be Able to Manage Cryptocurrencies According to the regional financial news publication Handelsblatt, in 2020 banking institutions from Germany will be able to manage cryptocurrencies for customers. Under newly enacted…

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Photonics Bitcoin Mining Tech Aims to ‘Democratize’ Energy Use

Three researchers have published a paper at Cornell University’s arxiv.org proposing a system called Optical Proof of Work (OPOW) to potentially be employed in Bitcoin mining. According to the paper, “heavy reliance on electricity has created scalability issues, environmental concerns, and systemic risks.” The authors state that silicon photonics could be used to shift mining costs away from energy-intensive to hardware-based costs, lowering the economic and environmental impact, adding greater security, and “democratizing” mining. Also Read: Canadian Company Commissions 3 Bitcoin Mining Units to Restart Oil Well Optical Proof of…

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Privacy Coins Are The Best Against Government Spying

One of the things that attracted both revolutionary minds and investors about cryptocurrencies was their “untraceable” qualities. Anonymous funds transfers were probably the first thing people learned about Bitcoin. Satoshi Nakamoto’s whitepaper talked about security and privacy coins that will help the people against the monetary system. This newfound freedom was something only people with Swiss bank accounts or Offshore companies knew about. It’s needless to say, that this wasn’t something politicians and banks embraced. On the other hand, those who had ideas and were sick of the debt system…

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Crypto Employees in China Work From Home to Avoid Government Pressure

Not too long after embracing blockchain, Beijing has made it clear, one way or the other, that it didn’t mean Bitcoin. Increased scrutiny over the cryptocurrency sector and harsh measures against some companies have been implemented to supposedly protect citizens from scams. Sources say the government offensive has scared a lot of people employed in the industry and many have chosen to work from their homes rather than at the office. Businesses have been avoiding online chatter after rumors that a popular messenger is being watched closely. Also read: Another…

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The 187,000 BTC Scam – Is Plustoken to Blame for Bitcoin’s Sell-Off?

Armchair theorists love postulating the reasons behind bitcoin’s latest price rise or sell-off. From China FUD to exchange hacks, anything and everything is fair game for blame. Plustoken is the latest bitcoin bear-maker that’s being credited with the last three months of downward price action. But is the revenue from a ponzi coin really responsible for bitcoin’s drop, or are there broader forces at play? Also read: US Judge Denies Customer’s Plea to Quash IRS Bitstamp Inquiry Anatomy of a Scam In June, the ringleaders of Plustoken were arrested by…

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Coinbase Patents AI Compliance System to Monitor and Flag Accounts

Popular U.S. cryptocurrency exchange Coinbase received a patent November 19, for an AI-driven compliance system which would monitor customer accounts, flagging those deemed non-compliant and recategorizing them for corrective action. Described as a “compliance determination and enforcement platform and method,” the new system would monitor a long list of KYC/AML-related details, including “level of due diligence that has been performed on the user account.” Also Read: US Government Worried Crypto Can Shift Power to Private Sector Coinbase Granted Patent The new patent for Coinbase’s “Self-learning compliance determination and enforcement platform”…

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