Russia Threatens Telegram Over Data

Another day, another attempt to constrict the basic human rights of humans. Though I have written extensively on the United States’ actions against freedom of speech and net neutrality, this article’s focus is on Russia.

THE ATTACK ON TELEGRAM

While I hold no illusion over the egregious assaults on its citizens’ personal liberties by the Russian Government, a recent threat stuck with me. They are apparently going after Telegram.

For any of you who do not know, Telegram is a messaging app that heavily encrypts messages and can even place a destructive timer on the message(s) being sent, think how SnapChat deletes a photo after a certain amount of time. All of this means that it was incredibly popular among individuals and groups who wanted to maintain privacy in their lives without fear of a Man in the Middle reading what was being sent or a compromised device pouring through their local data.

Pavel Durov -Telegrams founder- expressed just how much privacy of users meant to the company as a whole, and that they have never and would never make deals with government bodies which would threaten those ideals.

For these reasons, many cryptocurrency traders used the app to talk about trades with their partners and friends. It even has been the spawning ground of some trading based bots to help individuals make smarter altcoin trades.

These attractive reasons may be why Russia’s communications regulator Roskomnadzor has claimed that Telegram is in violation of Russian laws, and it has threatened to block Telegram if it does not provide greater information on the company. Apparently, the window for Telegram to provide this information is closing fast. We may see a telegramless Russia.

WHY THIS MATTERS

While it may seem easy enough for Telegram users to move over to a similar messaging app such as WhatsApp/Viber, this instance sets a troubling precedent. Here we have a government infringing on the rights of its citizens to privacy -as outlined in Article 12 of the United Nations Declaration of Human Rights- and attacking the business model of a private endeavor just because they did not want to provide metadata of its users to be stored in government data centers.

Such arrogant defiance and disregard for the rights of its citizen’s right to free speech and privacy by curtailing a popular avenue is not easily undone. I mentioned before that users can just go to a different app, but what if those apps do not bend to the will of the Russian Federation like Telegram, then there will be increasingly fewer places for users to turn. Worse yet, what if they do? User’s private lives may be compromised, stored somewhere in a Russian Mega-data center with algorithms and analysts poring over an individual’s private life in meticulous detail.

When one country can get away with this and there is very little pushback on an international scale, we can expect that it may happen in the countries which did not care to push back. An attack on one person’s privacy and rights in one country is an attack on yours just as much. It plays into the erosion of individual rights. It feels slightly strange to say it, but an attack on Telegram is an attack on us all.

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How Bitcoin Scaling Conflict Can be Resolved Between Developers and Miners

As the bitcoin industry and market continue to expand at an exponential rate, the community is expecting the activation of a viable scaling solution to address this growth.

The Bitcoin Core development team’s transaction malleability fix, Segregated Witness (Segwit), has been the preferred method of scaling by the industry. Even the mining community seems to agree to a conditional activation of Segwit.

One condition requested by the miners is the execution of a 2MB hard fork, as explained in the proposed New York Agreement drafted by 57 companies led by Digital Currency Group that represent more than 80 percent of global bitcoin hash rate. The mining community is willing to activate Segwit and optimize the bitcoin block size by around 75 percent given that a 2MB hard fork increase is guaranteed.

Why an Increase to 2MB?

Recently Jihan Wu, the co-founder of Bitmain and one of the most influential figures in the global mining community, was interviewed by Theo Goodman to discuss the scaling conflict between the mining and development communities. Wu addressed the possibility of activating Segwit and other controversial issues in the past such as AsicBoost.

During the interview, Wu expressed his concerns over the deserted Hong Kong Bitcoin scaling agreement and the dismissal of the original agreement to execute a 2MB block size increase by the Bitcoin Core development team.

Wu emphasized that despite previous agreements, Bitcoin Core dismissed the 2MB hard fork agreement and only presented Segwit as the sole scaling solution, which Bitmain along with other Chinese miners and mining pools do not care for.

The original Hong Kong bitcoin scaling roadmap agreed upon by the bitcoin mining community and Bitcoin Core contributors including Luke Dashjr, Matt Corallo and Peter Todd read:

“This hard-fork is expected to include features which are currently being discussed within technical communities, including an increase in the non-witness data to be around 2 MB, with the total size no more than 4 MB, and will only be adopted with broad support across the entire Bitcoin community. We will run a SegWit release in production by the time such a hard-fork is released in a version of Bitcoin Core.”

Wu and other bitcoin miners believe Bitcoin Core abandoned the previous agreement to increase the block size and focus on the development and roll out of Segwit. For this reason, the mining community has been persistent in requiring a conditional activation of Segwit. This is  the New York bitcoin scaling agreement was so clear on an execution of a 2MB hard fork after the activation of Segwit.

What Will Happen Next?

Experts and analysts also believe that the execution of both a soft fork and hard fork to scale the bitcoin network in a relatively short period of time is inefficient. Developers including Bitcoin Core contributor Luke Dashjr have found the New York bitcoin scaling agreement’s codebase Segwit2x to be untested and unsafe for deployment.

Some believe that the execution of a 2MB hard fork may not be necessary upon the activation of Segwit. Thus, the development and mining communities can activate Segwit first and take a wait-and-see approach with the 2MB hard fork if it is still deemed necessary.

Figures such as Erik Voorhees have also begun to call for the activation of Segwit with “no strings attached.” At this point, the only way to resolve the scaling conflict between developers and miners is to come to a consensus on the best activation mechanism for Segwit and establish a long-term roadmap for bitcoin scaling.




source:themerkle.com

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BITPETITE - Bitcoin Tumbler

Having evolved from seashells passed hand-to-hand to digits on an electronic screen, money has come a long way. Ten years ago e-currency was a curiosity – today it has become, for many, a necessity.

However, anonymity remains the main difference between conventional cash and online currencies. It is a common misconception among users of cryptocurrencies that Bitcoin is anonymous. Bitcoin is actually pseudonymous, meaning that the user’s wallet number is an alias, a pseudonym. If the pseudonym’s association with the identity of the wallet’s owner is exposed, the entire history of the transactions involving this wallet will be compromised.

BITPETITE solves the problem of anonymous money transfers. Most financial services abide by the KYC (know your customer) and AML (anti-money laundering) policies, which require customer identification. BITPETITE’s unique feature is that it does not require customers to complete the process of identification and does not store information about customers’ activity.

The system performs exchanges between customers’ money and e-currency drawn from anonymous reserves. The BITPETITE’s confidentiality protection technology involves sending funds to multiple client wallets at a time, delayed currency exchange, and randomized commission fees.

This works in a similar way to a high-resolution display: the more pixels it has, the harder it is to spot each individual pixel. To facilitate the flow of funds, BITPETITE accepts partner investments and offers generous investment terms. With a 6-week deposit period, the investor earns 4.5% daily, and with a 9-week deposit, this interest is 3.6%.

In order to function successfully, BITPETITE needs a constant monetary flow so as to provide high level of anonymity to customers. The more money the system has available in its reserves, the more effectively it can mask each electronic transaction.

The system’s most active investors can also earn additional income. BITPETITE rewards affiliate participants for each new partner they invite: for a first-tier referral, the participant receives 10% of each deposit, second-tier referrals bring the reward of 5%, and the third-tier ones, 2%. Currently we accepting Bitcoin and Ethereum, we also have other promising cryptocurrencies in our plans.

In order to provide extra security of the investments, BITPETITE offers the currency conversion feature. It enables investors to freeze the cryptocurrency exchange rate at the time of deposit, so that they will not lose money due to the exchange rate volatility.




source:themerkle.com

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Wedding photos of soldier and policewoman make nation laugh

THESE have got to be the funniest wedding photographs. When Khairul Anuar and Wahidah Yazid tied the knot, they want to have some humour in their wedding shots.

They had a series of wedding photographs of them play acting. The bride was shown flagging down a car for a traffic offence in Kota Tinggi. She then issued a summon to her husband, which was a drawing of a red heart.

The photos came with funny captions too. The husband was said to have been being fined for “driving too fast and running into my heart”. The fine of “RM 22.50 as the 'mas kahwin' and imprisoned in her heart for eternity”.

The set of romantic pictures quickly went viral, and has received more than 13,000 likes and 4,438 shares at the time of writing.




source:thesundaily.com

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Record fine against Google to benefit EU citizens: Commissioner

THE record €2.4 billion fine slapped on Google by the EU for abusing its market dominance "will find its way back to European citizens," Europe's competition chief said Saturday.

Although the US tech giant has said it expects to appeal, if the European Commission wins, "this fine will return to European citizens" via the governments of the 13 member states involved, European Competition Commissioner Margrethe Vestager said on French radio.

She said each of these countries would see its contribution to the EU budget reduced in the following year, "pro rata, based on this fine".

Brussels has accused the world's most popular internet search engine of giving an advantage to its Google Shopping service.

Google Shopping shows the images and prices of products in response to shopping-related searches when someone uses the search engine.

The EU says that Google is giving its own service too much priority in search results to the detriment of other price comparison services, such as TripAdvisor and Expedia.

The case, launched in 2010, is one of three against Google and of several against blockbuster US companies including Starbucks, Apple, Amazon and McDonalds.

Vestager has said "preliminary conclusions" in the Android and AdSense cases against Google also showed it breached EU rules.

The cases have stoked tensions with Washington and could face the wrath of President Donald Trump, the tycoon who won office on his "America First" slogan and has previously hit out against the EU. — AFP



source:thesundaily.com

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Here Are The Reasons Why We See Buy and Sell Walls in Cryptocurrency?

Speculation is, unfortunately an integral part of cryptocurrency these days. The current prices for individual coins and tokens are largely based on speculation, which shouldn’t surprise anyone. It is also not entirely surprising there are things such as buy walls and sell walls, both of which influence the price quite a bit. Now is a good time to discuss the purpose of such walls

BUY AND SELL WALLS CONTROL CRYPTOCURRENCY MARKETS

It is not hard to see why buy and sell walls are forming across exchanges. In virtually every market, there are massive buy and sell orders for every popular currency. This is the case for Bitcoin, Litecoin, Ethereum, and any other coin generating over 500 Bitcoin in trading volume. There are a lot of people who bought these currencies at a low price, and aim to cash out as quickly as possible.

Moreover, large cryptocurrency holders, also known as whales, effectively manipulate cryptocurrency prices whenever they can. It is not in their best interest to let currencies break out above a certain level until they are accumulating. A sell wall is often an artificial oppression mechanism to keep prices well below the maximum threshold so the whales can buy up a lot of cheaper coins. If you have the money to manipulate a market, it is only to be expected someone will try to do exactly that.

One thing that will always remain a big question is whether or not there is any specific “strategy” associated with keeping prices down other than from a speculative point of view. It does not appear there is a reason for spontaneous large buy and sell orders to appear unless someone is looking to manipulate the market. Many different trading strategies exist, but buy or sell walls are not part of them by any means.


On the other hand, sell walls are often seen as an indication of serious liquidity. That is a good thing, as it shows there are a lot of coins available for purchase. Then again, without enough buy demand, there is very little point in putting up active sell orders. In those cases, whales would prefer to dump their coins on the market and fill existing buy orders. A lot of buy walls will often attract large holders who are looking to offload their coins.

One thing worth noting about large buy and sell orders. In a lot of cases, these orders will only appear for a brief period of time, and then get removed altogether. It is equally possible these orders are moved up or down depending on how the market responds to noticing these walls. This type of behavior has become a lot more apparent since the Mt. Gox order book manipulation several years ago. It is evident market makers still rely on large walls, although their impact is sometimes rather neglectable.


source:themerkle.com

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UK Government Are Planning to Construct a Commercial Astronaut Training Center by 2020

Commercial space flight is coming a lot closer than most people would anticipate right now. Over in London, the UK government will open a full-fledged commercial astronaut training center. It is evident such a facility will not only be used to train official astronauts but also consumers who are willing to venture into space. This facility will be known as Blue Abyss, and costs around 120 million Pound Sterling.

COMMERCIAL ASTRONAUT TRAINING CENTERS ARE COMING

It is not entirely surprising to learn the United Kingdom will be home to the world’s first commercial astronaut training facility. Not too long ago, the UK government announced they will build a private space research center in Bedfordshire. It is evident the UK government feels something important is bound to happen when it comes to space exploration, although no one knows exactly what the future may hold.

The Blue Abyss facility will be built in Bedfordshire and set the government back 120 million GBP. That is quite the hefty price tag, albeit one does not build an astronaut training facility and accommodations with a few thousand quid either. It has to be said, the plans for this facility are nothing short of breathtaking either. It will feature a 50-meter deep pool, an astronaut training center, and a 120-room hotel. It will be a top-of-the-line facility, to say the least.

Construction is scheduled to begin later this year, as the RAF Henlow area. The plan is to make all facilities accessible to both domestic and international companies alike. Thanks to this wide variety of facilities to enjoy, Blue Abyss will house divers, astronauts, and athletes. However, with such a strong focus on commercial astronaut training it is not unlikely wealthy consumers venturing into space will undergo rigorous training in this facility as well.

It is expected the construction of Blue Abyss will be completed by 2020, which means there is a very tight deadline to adhere to. It appears RAF Henlow already houses some astronaut training equipment, which will help move things along. As one would expect, such a facility would not be complete with a centrifuge base. Private spaceflight providers will make use of this tool to get their passengers space worthy. It is possible companies such as Virgin Galactic will make use of this facility once it is completed.

Even though the biggest focus lies on astronaut training, they will not be the only ones to benefit from Blue Abyss’ facilities. It is believed renewable energy companies will be able to test their equipment in the pool. Moreover, companies working with submersibles and other underwater vehicles are more than welcome as well. It is evident this facility will be of great interest to many people, assuming they can gain access to it in the first place. Space growth is a top priority for the UK government right now, that much is evident.

A project like this makes you wonder what we will find once our society starts exploring space in a proper manner. Commercial spaceflight will yield some very interesting results, that much is evident. Projects such as Blue Abyss will herald a new era for the human race, even though it is unclear what we can expect. That is also what makes it so interesting to be alive in this day and age, as a lot of surprises may be waiting for us around the corner.




source:themerkle.com

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Here Are Bitcoin Apps That You Must Check Out

This article will go over some must have apps if you are a cryptocurrency enthusiast. Mainly, it will focus on those services that can be used for managing Bitcoin. The apps in question can accept Bitcoin as payment, serve as your Bitcoin wallet, or even just let you play games that can let you earn some satoshis. The list is in no particular order.

1. CRYPTO PRO

This is a cryptocurrency tracker, and it’s able to track over 100 different coins all at once, bitcoin is of course included as well. For many crypto investors, it’s very important to get the latest market data as soon as possible. Any change in their currency of choice carries meaning, and it’s crucial to have reliable information regarding the coin’s price at all times.

However, what makes the app so special is the fact that it hit the top of the list of finance apps that people are willing to pay for, at least when it comes to Apple users. Having an app that you have to pay for, and whose only purpose is to track cryptocurrencies on top of the list shows how relevant these particular services are becoming.

The app can also be used on the Apple watch, and you can even use it to request bitcoin via a QR code. Other than that, it presents data about different cryptocurrencies in detailed and fully customizable graphs. It’s a must have if you’re in the world of cryptocurrencies.

2. COIN ATM RADAR

Another very useful app and website. It tracks your location and then scans the area to give you the location of the closest bitcoin ATM. It supports both iOS and Android, which means that you’ll know where the nearest ATM is at any time.

Apart from the ATM map, it can also inform you about some of the details concerning a particular ATM. It’s always useful to know as much as you can, and with this app you’ll know limits, fees, and even the type of the ATM.

Most of the bitcoin ATM types are covered, and that includes Robocoin, Genesis Coin, Lamassu, GeneralBytes, BitAccess, and SkyHook. The list of ATMs is growing with the influence of cryptocurrencies, and you can track them all with this app.

3. FOLD

A very promising app that’s currently still in beta. It allows you to spend your Bitcoin “in the real world.” Many companies have already shown interest and signed up as partners. Those include Starbucks, Target, and Whole Foods. In all of their stores, you can pay for the services with bitcoin.

The process is simple, and all you have to do is load the amount of bitcoin that you plan on spending into the app. The app will make a barcode, and after scanning it, the money gets transferred to the service’s account.

This is the first bitcoin app that caught the interest of larger stores and services, which says enough about its potential. Bitcoin and other cryptocurrencies are making their way into the modern society. More and more stores are accepting them, and apps like this will allow you to use them.

4. GILPH

Think of this app as a marketplace. You can use it for selling and buying products or services while using only bitcoin. There are even different communities that you can join, and a message system that you can use to contact your friends.

It’s compatible with several bitcoin wallets, and you can connect them to your account here. With this app, you’ll easily send payments, check your balances, and even scan QR codes.


The Gilph website itself describes the app as a sort of “Swiss Army knife for bitcoin,” and it’s not wrong. This is surely one of the apps with impenetrable security at its core.

5. SARUTOBI

The literal translation of this app’s name in Japanese is “flying monkey.” It’s a game where you earn bitcoin while playing, and the point is to swing Tobi from one vine to another. In the process, you collect bitcoin and bananas.

The game only has one level, but it gets harder the further you get. You must swing as far as you can, and to do that, you use power-ups that you pay for with bananas.

As mentioned, by playing the game, you collect coins, and at the end of the month, the game’s ad revenue converts them into a certain amount of bitcoin. The more coins you collect, the more bitcoin you’ll get. From time to time, you even get some tips about bitcoin from the game itself.

The game is pretty addictive, and along the way, you might even earn something. All in all, it’s a good way to attract a new audience and teach them about bitcoin.

6. BITCOIN BILLIONAIRE

This is another bitcoin-related game, it allows you to sell and trade virtual bitcoins. This game doesn’t deal with actual bitcoin, which makes it more of a bonus to our list than a real bitcoin app.

Still, it’s fun to play, especially if you like progressing games. You start with nothing, as you play you can build up an entire fortune, you can buy new things and mine bitcoin when you’re not playing. You can even get a T-Rex pet as an upgrade.

It’s also a good way to promote and explain bitcoin without the danger of losing any real money.

CONCLUSION

The rising interest in cryptocurrencies is real and not just a hype or a short term trend anymore. You can tell by the number of different apps that are emerging for the ecosystem.

More and more services and stores are accepting them, and this new form of payment is what awaits us in the future. Check out these apps now and learn as much as you can, because you’ll need that knowledge very soon.



source:themerkle.com

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Koler Ransomware Targets US Citizens With Fake PornHub Android App

People often say the internet is for porn, and to a certain degree they are absolutely right. In the year 2017 however, the Internet is also for ransomware and other types of malware. A new type of malicious software on Android combines both porn and ransomware into one powerful threat. Various adult content websites have been targeted by ads for a fake Pornhub Android app, which effectively contained the Koler ransomware payload.

KOLER RANSOMWARE IS QUITE NIFTY, IN A BAD WAY

It is never good to see new types of ransomware show up on mobile operating systems. Especially Android users have seen their fair share of malicious software, ranging from banking trojans to keylogger and everything in between. It now appears US customers visiting adult content-oriented websites may fall victim to a new type of Android ransomware, which masks itself as a malicious PornHub app.

It is well worth mentioning Koler is not a new type of malware by any means. This particular ransomware family has been around since 2014, back when the Reveton malware strain was still successful. A lot has happened over the past three years in the world of cybercrime, but some names will always ring a bell. Reveton was quite successful when attacking Windows computers, and the developers decided to port most of the functionality to Android in that year.

One thing about Koler stood out immediately: it had a link to pornographic content from day one. More specifically, the 2014 ransomware strain locked people out of their devices and showed a police-themed warning asking them to pay a fine because of their adult content viewing habits. The amounts demanded back then were very small, but it is something that made the developers quite a bit of money. No one wants to see those kinds of warnings on their phones or tablets under any circumstances.

Now that Koler is back, there is plenty of reason to be concerned. An ongoing distribution campaign is taking place right now. It appears the ransomware developers are resorting to a brand new tactic, which could prove to be quite lucrative and successful in the long run. By effectively displaying malicious advertisements on adult content platforms, the developers are trying to trick Android users into downloading a malicious PornHub application.

Once the user downloads this particular application, their device will be infected with the Koler ransomware shortly afterward. As soon as the malware is installed, it will be given root privileges, which can have all kinds of nefarious consequences. This method is often referred to as clickjacking, and it is quite common among Android malware types right now.

With root access, the Koler ransomware can show a ransom message on top of the current screen. It seems little has been done to create a new ransom note, as it still claims to be a message from the US Department of Justice. Users are asked to pay a fee of $500 within three calendar days. It is unclear how this money needs to be paid, though. The fact this ransomware only targets US citizens is rather unusual, considering the malware’s source code reveals geo-targeting capabilities.




source:themerkle.com

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US President Donald Trumps Want to Turns Solar Panels to Build Wall Between US and Mexico

It has been quite some time since we last heard anything about Donald Trump’s plans to build a wall. It is evident the Mexican government will not pay for this project under any circumstance. In fact, this has forced Trump to come up with an entirely different plan to make this idea become a reality. His new idea revolves around using solar panels on the wall to lower the construction costs.

TRUMP FEELS SOLAR PANELS WILL HELP FUND THE WALL

One does not simply build a wall on the border between the United States and Mexico. The idea has always been ludicrous, and it looks as if realizing this project will become only more difficult as time progresses. President Trump’s plan to create this wall is stuck in the planning stages, as the money for construction will need to come from somewhere. Rest assured the Mexican government will not partake in this funding process.

Back to the drawing board it was, and it looks as if a new plan of action has been formed. According to the BBC, the new plan revolves around using solar panels to make this wall pay for itself. That is a rather controversial decision, even though it makes a lot of sense. Solar panels can generate a lot of electricity, especially in sun-laden areas such as the border between the US and Mexico. A bold plan, but a solid one, assuming it can be achieved.

The choice of solar panels is a lot more controversial than most people realize, though. Up until this point, President Trump has not shown any big interest in climate change or renewable energies. Then again, solar panels are quite a lucrative form of generating electricity and making projects pay for themselves over time. Moreover, this “change of heart” will result in Mexico eventually paying less for the wall, which is an interesting outcome.

What is rather interesting is how over 200 companies already submitted their proposals and designs to build this “solar wall”. All information is collected by the Department of Homeland Security, and it will be interesting to see how things will play out. President Trump claims this whole idea was his, without any involvement from any of his advisors. Whether or not that is what actually happened, remains anybody’s guess for now.

All of this goes to show President Trump is not planning to give up on his idea to build a wall between the two countries. Such a wall should curb immigration from Mexico to the US. Whether or not a solar wall will be as intimidating as a regular one, remains to be seen. Moreover, it is possible someone may try to tap the solar wall’s batteries and use the electricity for different purposes. This is something that could occur on both sides of the border, mind you, which would create a whole new set of problems.


The bigger question is whether or not President Trump still wants to curb remittances between the US and Mexico. Right now, there is no mention of such a plan, which is quite surprising. Even if that was still on the agenda, it is highly unlikely this wall – solar panel-based or otherwise – would successfully do so. Currencies such as Bitcoin can be used to bypass artificial limitations associated with money transfers without any problems.

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smart blanket could encourage a better relationship and a better sleep

This Smartduvet is so smart, it could save your relationship.

Besides going on holiday and moving house, sharing a bed with your partner can be a make or break setup for some.

I'm not just talking about trying to decide what colour your bedspread should be. When it comes to turning out the light and actually sleeping next to your partner, it can be tough.

How could they really want the blankets off when it's only 20 degrees?

You're hot, they're cold, and just when you think you have it all sorted out, you're chilly, and they're too warm. Now you're frustrated to sleep - and it's an argument you'll have to have yet again tomorrow night.

This duvet could be the answer to the age-old problem of couples all over the world, and we are very excited -oh, and it's a bed that will make itself.

The new Smartduvet Breeze is the world's first 'dual-zone climate controlled self-making bed,' the creators explain on their website.

'The Breeze doesn't replace your existing bed or bedding, it simply makes them better,' the creators explain on their website.'

'In addition to making the bed for you, the Breeze allows you to set your preferred temperature individually for each side of the bed.'

The blanket attaches to a small 'control box', which makes the bed by filling the SmartDuvet with air. As the blanket unfurls and expands, the bed is 'made'.

The relationship saving element of this invention, the climate control, can be utilised through an app which you can install onto your phone or smart device.

Once an action is selected through the app, the blanket is heated or cooled respectively, as warm or cool air is blown into the Duvet from the same control box that makes the bed.

The blanket is not yet available commercially, but its Indiegogo page has reached more than 500 times its fundraising goal.

It's thought at this time the product could be available as early as September this year.

Just in time for spring weather changes!

While this is one relationship saving invention that is long over due... there are still a load of common arguments that a relationship can suffer from.

Researchers at the Gottman Relationship Institute have identified five of the most common, destructive patterns in arguments and how to deal with them which you can read about here.

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Do you Know What is Called Project Titanium?

If it were up to government officials, Bitcoin and other blockchain-based transactions will be closely monitored moving forward. The European Commission has unveiled a new plan to make sure criminal use of virtual currencies will be nipped in the bud. With the introduction of Project Titanium it is evident more scrutiny will come Bitcoin users’ way in the future.

PROJECT TITANIUM CAN BECOME A BIG PROBLEM

Every time a government agency launches a project to monitor blockchain transactions, there is plenty of reason for concern. In most cases these projects needlessly scrutinize legitimate cryptocurrency users, yet do virtually nothing to prevent criminal activity using these payment methods. No one will deny Bitcoin and other currencies can be used for nefarious purposes, but the vast majority of transactions are perfectly legitimate.

For some reason, the European Commission feels they need to do something extra to fight the criminal use of the dark web and virtual currencies. Going after the criminals residing on the darknet is never a bad idea. These groups of people have been causing significant damages and earned a lot of money by going after consumers and corporations. Ransomware for example, is a favorite tool among cybercriminals which often results in victims making a Bitcoin payment.

Blockchain technology utilized by Bitcoin and other virtual currencies is decentralized, which makes it impossible to control. In fact, the European Commission acknowledges how blockchains “evade traditional investigate measures.” It is evident some tools will need to be developed to allow for proper blockchain analysis. Various companies in the cryptocurrency space are already working on such solutions as we speak.


Project Titanium will try to achieve a very similar goal, although not too many details are known about this concept. We do know the project received 5 million Euro in funding, and it’s scheduled to run for at least three years. The goal is to develop technological solutions for investigating crime and terrorism involving virtual currencies. Four different law enforcement agencies and INTERPOL will collaborate on this effort.

The name Titanium is not chosen randomly either. This acronym stands for Tools for the Investigation of Transactions in Underground Markets. It is believed these new projects will be tested and validated in the future, albeit no specific dates or deadlines have been announced at this time. Analyzing blockchains is not an easy feat by any means. Moreover, r it is unclear how Project Titanium will separate criminals from regular users, other than by looking for anomalies. After all, the definition of a blockchain “anomaly” is quite broad.

It does appear the European Commission wants to respect privacy and fundamental rights. How this will be achieved, is anybody’s guess at this time. The Project Titanium team has a lot of work ahead of them, that much is quite evident. It will be quite an intriguing project to keep an eye on over the next few years.




source:themerkle.com

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A Company Called QUOINE Launches Fully Digital Crypto-Only Platform, Offers Negative Fees to Attract Liquidity

Global fintech firm QUOINE has launched a fully digital cryptocurrency exchange and trading platform called QRYPTOS, exclusively for cryptocurrency trading in beta version. QRYPTOS is currently in beta desktop version at www.qryptos.com.

Developed to meet the trading needs of a growing professional and retail market, QRYPTOS was designed to make cryptocurrency trading convenient and efficient for everyone from the novice investor to corporate clients. QUOINE is committed to being the safest exchange in the world, with asset protection and secure trading across all its platforms, which are of the highest priority to customers. All operational processes on QRYPTOS are fully compliant with global Know Your Customer (KYC) and Anti-Money Laundering (AML) standards.

QUOINE will deploy its best-in-class trading engine powering their current Bitcoin exchange and trading platform, QUOINEX, to deliver the same high trading performance for QRYPTOS. Customers can sign up for beta trial today and enjoy powerful trading features such as:

1. Efficient trade execution with QUOINE’s superior matching engine, capable of processing close to one million transactions per second
2. Analysis tools including trend indicators, live charts, and essential charting tools, free for QRYPTOS customers
3. A secure trading platform that uses multi-factor authentication, dedicated private servers, and Bitcoin multisig wallets placed in an off-line cold storage

The current cryptocurrency market is worth over USD100 billion today, with more than 700 cryptocurrencies in existence. Listed cryptocurrencies on QRYPTOS include some of the largest cryptocurrencies in the market such as Bitcoin (BTC), XRP, Ethereum (ETH), Zcash (ZEC), Ethereum Classic (ETC), Litecoin (LTC), and Monero (XMR), with more to be added soon.

“We are excited to launch a digital first cryptocurrency exchange to support the rapidly growing use of cryptocurrencies in the global FinTech ecosystem,” stated Co-Founder and CEO of QUOINE, Mike Kayamori. “As part of our fully digital service, customers do not need to open a bank account to start trading on QRYPTOS. Instead, they can use their digital currency wallet. This expands our offering of cryptocurrencies to customers who are searching for other attractive alternative asset classes for trading or investment of their Bitcoin.”

“We’ve combined over 200 years of fintech experience from finance, trading and engineering talent to develop a secure, liquid and transparent exchange that provides the highest security measures and superior execution capability, on par with the standards of large global financial institutions,” said Mario Gomez-Lozada, Co-Founder and CTO of QUOINE. “At our core, we are a customer-driven technology company that puts the safety of customers’ assets first on a market leading trading platform.”

To attract liquidity, QRYPTOS currently has an attractive incentive structure in place for market makers. For every market trade completed by market makers, they will be rewarded with 50% of the taker fee collected by QRYPTOS. The taker fee is fixed at a competitive rate of 0.15%.

ABOUT THE COMPANY

QUOINE is a leading global fintech company that provides trading, exchange, and next generation financial services powered by blockchain technology. With offices in Japan, Singapore and Vietnam, QUOINE combines a strong network of local partners with extensive team experience in banking and financial products to deliver best in class financial services for its customers. More information is available at www.quoine.com

In 2014, QUOINE launched Quoine Exchange, now known as QUOINEX, which became one of the largest bitcoin exchanges in the world by transaction volume. QUOINE offers powerful trading features, a sophisticated user dashboard, and secure regulatory compliance to individual and corporate customers. QUOINEX provides trading services for bitcoin and fiat currency pairs in Japanese yen, US dollar, Chinese Renminbi, Euro, HK dollar, Indonesian rupiah, Singapore dollar, Philippine peso, Indian rupee, and Australian dollar. QUOINEX has exceeded USD12 billion in transactions in the past two years. More information can be found at www.quoinex.com

source:themerkle.com

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What is the Splitprotection BIP?

The upcoming UASF activation date of August 1st has quite a few people concerned. A chain split is still a very like outcome of this soft fork. However, a new proposal has been drafted to prevent the blockchain from splitting into two. The splitprotection soft fork requires a lower activation threshold and an immediate mandatory signaling lock-in. The bigger question is whether or not this new proposal will be implemented before August 1st.

THE SPLITPROTECTION PROPOSAL IS A GOOD SOLUTION

No one in their right mind wants to see the Bitcoin blockchain split into two on August 1st. While supporters of the BIP148 activation claim that will not be the case, the possibility should not be ignored by any means. Creating two different kinds of Bitcoin is in no one’s best interest right now. To prevent such a split from happening, a new proposal has been sent out to the Bitcoin developer community last night.

This concept, known as the splitprotection BIP, is a soft fork. As the name suggests, this code will prevent the Bitcoin blockchain from splitting into two before the user-activated soft fork activates on the network. This solution can be used by all Bitcoin miners to prevent this hypothetical chain split. On paper, miners have nothing to lose by embracing this solution, as it will not affect them in a negative manner by any means.

It is worth noting the splitprotection soft fork uses BIP8 instead of BIP9. This is a deliberate choice to reduce the activation threshold and introduce an immediate mandatory signaling lock-in. As a result, the majority of miners can activate mandatory SegWit signaling and prevent the chain split at the same time. It will help the Bitcoin network advance toward a proper scaling solution and remove any lingering concerns people may still have regarding BIP148.



Even though a lot of people dismiss the possibility of the UASF activation causing an extended chain split, some Bitcoin developers see it as a major threat. That is only normal, as the last thing anyone wants is to see two competing Bitcoin chains. That scenario has worked out somewhat well for Ethereum and Ethereum Classic, but Bitcoin should never go through similar issues if it can be prevented.

The splitprotection BIP is an elegant solution that will prevent this from happening. It does require the majority of miners to coordinate activation of the existing SegWit deployment. However, the 95% hashpower threshold is no longer required before BIP148 activates. Instead, the BIP focuses on rapid miner activation of SegWit mandatory signaling ahead of August 1st. The new activation threshold sits at 65%, which may still be well out of reach.

Another benefit of this new BIP is how miners can openly signal their intention to run BIP148 as a way to prevent a chain split.  This added feature should result in clear lines being drawn between groups supporting different solutions. Some people will certainly appreciate this aspect, even though it is only a small part of what this BIP aims to achieve in the end. Once Segregated Witness is officially locked in, this BIP will cease to be active on the network.

All things considered, the splitprotection proposal offers some interesting chances which will be beneficial to the Bitcoin network. Preventing a chain split is always a solid idea, as the Bitcoin value would take a serious beating if the split would occur. Moreover, lowering the activation threshold for SegWit to 65% is a major change as well, even though it may be a trivial matter in the end. There is no real reason not to support this BIP, although only time will tell how things will play out.



source:themerkle.com

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Will Criminals Start Kidnapping People and Asking for Ransomware in Bitcoin?

Some of the very first associations that the wider public made with Bitcoin upon learning about it were fairly focused on its potentially nefarious connotations. That being said, Bitcoin can still be used for criminal activities. This is most noticeable in the recent wanna cry ransomware attacks and fileless ransomware attacks. So does this mean -like a comment on this linked article suggested- that soon criminals will move beyond ransomware to straight up kidnap and ransom in the physical world?

Well, maybe. If someone is willing to accept any form of payment for any legal or illegal deal, then that currency has worth. Bitcoin would be no different in this case than say, cash or bearer bonds. Both of these are extremely anonymous forms of payment, more so than Bitcoin even.

Ransoms being paid in dead drops or trades means that a criminal would be exposing themselves to being followed after the exchange takes place. A wire transfer to a bank means that they would be immediately identified, so Bitcoin being moved to a new address would mean that this would be delayed. However, it would not be untraceable.

Let’s put ourselves in the hypothetical that we are trying to negotiate the release of a hostage, and their kidnappers demanded payment in Bitcoin. This means that we have some time to “buy bitcoin” since most probably would not have stores of Bitcoin ready for kidnapping situations. If it is a large enough amount, we need to wait for verification from an exchange, and in some countries we would need to report these assets. Some countries also monitor the blockchain for large payments made. Law enforcement may already have pegged this situation before the payment is ever even made

With the help of law enforcement or others, the public ledger nature of Bitcoin would mean that we could start to build a strategy to try to keep track of these funds, even as they undoubtedly will go through tumblers and mixers. Let’s not forget again, the likelihood that this much money exchanged hands already has probably tipped off the cops if we have not by this point.

There is also the possibility that the -probably uneducated in Bitcoin- payer of the ransom does not know how many satoshi per byte to pay for a quick confirmation or even one at all. Delayed or cancelled payments does not only spell disaster for the victim, but also is problematic for the kidnappers. Let’s remember, these people want money, not to feed, hide, or abuse and kill the victim.

While Bitcoin might provide security by not having to be present at an exchange or dead drop, it has a whole host of other problems. I do not see how Bitcoin would be easier or even more appealing to higher level criminals like this over cash or some other commodity. Too few people know about it, Blockchain analysts work tirelessly to connect addresses to personal information, and for larger sums of money it is just not as practical as other payment methods.

I am not saying that criminals do not use or will not use Bitcoin -because they do-, but I do not think we have to worry about kidnappers asking for ransoms only in Bitcoin in the future. In the end, they want money, not Bitcoin. That is how criminals always have operated. They want easily laundered and liquid monetary assets. Bitcoin may not be the most practical option for them in such a situation.



source: themerkle.com

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How Do I Stop A DDoS Attack?

Distributed denial-of-service attacks, also known as DDoS attacks, are becoming far more common over the past few months. In most cases, criminals will target companies and large enterprises, in the hopes of tricking them into paying a vast sum so the attacks will relent. However, it has become apparent regular consumers are targeted by DDoS attacks as well. It is of the utmost importance people are aware of how they can stop such an attack before major damage is done.

ANTI-DDOS ATTACK TRICKS 101

When a consumer is faced with a DDoS attack, the criminals will flood their modem or router’s external IP address with traffic requests. Any device linked to said modem or router will suffer from limited to no internet connectivity whatsoever. Addressing this problem may seem impossible, yet there are a few simple steps everyone can take.

First of all, it is important to force a refresh of your modem or router’s WAN IP address. Users and assailants can use this IP address to target specific devices. Forcing such a reset usually requires taking your entire home internet network offline from anywhere between 30 minutes to 24 hours.

Every internet service provider has different “leasing periods” for WAN IP addresses, and some will take longer to acknowledge the reset.  Make sure to unplug your modem or cable box where your internet connection originates from, otherwise the process will fail. Having a “backup” internet connection, such as a secondary ISP or a mobile network, is worth considering as well.

Unfortunately, this method will only address a DDoS attack if it was activated prior to the attack. It is important computer users take precautions to avert DDoS attacks in the first place. Using a VPN or the Tor browser to remain anonymous on the Internet is a more than valid solution to avoid DDoS attacks against your home or enterprise network. DDoS Attacks are designed to target one specific IP address, but if that isn’t the one of your home network, you can just keep on using the internet without issues.

Enterprises targeted by a  DDoS attack, on the other hand, have their work cut out for them. One of the first steps to take is blocking internet traffic coming from a specific country, for a while. Companies with an international clientele may find this solution harder to implement, though. Another solution is to create inbound traffic profiles, where regular connections are whitelisted and the rest are automatically blocked until further approval.

Using a third-party anti-DDoS service provider such as Cloudflare is an alternative option, although it can become quite costly. Most companies in the industry don’t charge exuberant amounts for their services, even though that doesn’t mean they are cheap either. It is important to protect against network traffic floods at all times, especially now that DDoS attacks are becoming more prevalent.




source:themerkle.com

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Here Are The Top 5 Companies Accepting Bitcoin

Since Bitcoin’s inception 8 years ago many merchants and retailers have warmed up to the currency and use it today. This article will list the 5 best places to spend your Bitcoins

DELL

Dell started accepting Bitcoin in 2014, it is one of the largest personal computer companies in the US. Dell’s Bitcoin payment option is integrated with Coinbase and it is built right into the checkout page. When you’re ready to make a purchase, add your items to your cart, fill out your shipping details and choose Bitcoin as your payment method. After the order is submitted, you’ll be taken to Coinbase to complete your purchase.

 CHEAPAIR

Cheapair is a New York based company founded in 2005. It provides a service similar to Expedia which allows you to book flights and hotels. They first started accepting Bitcoin in 2013 and have never stopped since. Just like with Dell, Cheapair’s bitcoin payment system is integrated straight into their checkout page and is powered by Coinbase.

 OVERSTOCK

Founded in 1999, Overstock is one of the largest american retailers based out of Utah. It offers a variety of products ranging from home decorations to computer hardware. The checkout process is similar to Cheapair’s and Dell’s and is integrated through Coinbase. When the company first started accepting Bitcoin in September of 2014 it because the first major retailer to accept Bitcoin.

In fact, Overstock’s CEO was so intrigued with Bitcoin that he decided to take it a step further by opening up his company’s stock to be publicly traded on the blockchain. As a result, they also became the first publicly traded company to issue stock over the internet.

STEAM

Initially released in 2003, Steam is a digital distribution platform which offers a variety of PC games to more than 89 million gamers. It is considered the largest video game distributor owning roughly 75% of the market. It first started accepting Bitcoin in April of 2016 as they partnered with Bitpay. The checkout process is just the same, you simply select the Bitcoin payment option and Bitpays API will take care of the rest.

One potential reason that Steam partnered with Bitpay rather than Coinbase is because Steam has a higher focus on international users while the companies above focus on the domestic market. While Coinbase might be one of the more compliant companies in the US, Bitpay has a smoother integration overseas.

 EGIFTER

eGifter is a New York based company founded in 2011, the youngest company on this list. The reason it ranks so high is because it opens up an opportunity to spend Bitcoin and dozen more places. eGifter provides a gift-card buying and sending solutions to users and businesses. You can purchase a gift card for yourself, for a friend, or you can even start a group gift.

The best part is that eGifter accepts Bitcoin! Some of the stores that you can purchase gift cards for include: Amazon, Target, eBay, Adidas, Dominos, and much much more.

source:themerkle.com

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US Intelligence Agencies Experiment With AI Spies to Replace Human Counterparts

It was only a matter of time until governments started to use artificial intelligence for “less legal” means. In fact, it is certainly possible US-based intelligence agencies will deploy AI agents to take over most of the mundane tasks. Espionage has become “boring,” according to Robert Cardillo of the National Geospatial-Intelligence Agency. This seems to herald an era in which AI spies will take over from their human counterparts.

THE WORLD OF AI SPIES IS QUITE FRIGHTENING

On paper, it makes a lot of sense for intelligence agencies to embrace artificial intelligence. After all, AI can take over a lot of tasks currently requiring a human to complete. At the same time, this also raises a lot of security concerns. Intelligence agencies do not always operate just within the confines of the law. No one can guarantee an AI would behave differently, as they are coded by humans, after all.

Robert Cardillo feels espionage has become a boring and mundane job these days. A lot of his employees do little more than stare at TV monitors to ensure there are no threats to national security. An AI could do the same job and not require sleep, breaks, food, or social interaction to remain focused. Cardillo feels properly developed algorithms would be able to analyze information more efficiently.

Moreover, artificial intelligence is a lot better at pattern recognition compared to human spies. This is especially true when it comes to sifting through tons of image and video material to identify abnormalities or other things that stand out. Making the right observation is pertinent to maintaining national security at all times, and an AI-based solution would probably yield much better results in the long run.

In fact, Cardillo has a team working on machine-learning technology in the intelligence sector. It is a bit unclear how and when this technology will be implemented, as no specifics were revealed at this time. It was only a matter of time until intelligence agencies started showing an interest in this technology, though. Silicon Valley-based companies have been experimenting with AI technology for some time now.

Moreover, other US-based agencies are working on similar projects. DARPA, IARPA, and other undisclosed agencies are – allegedly – all working on AI research up to a certain degree. The CIA has a venture arm actively supporting efforts to apply artificial intelligence analysis to satellite imagery. That is quite an intriguing development, to say the least.

It is only a matter of time until some human spies will be replaced by AI counterparts. Whether or not that will be a good thing is anybody’s guess right now. Rest assured privacy advocates will have some strong opinions on this matter. It has proven virtually impossible to keep human spies in check at times. Without proper regulation, AI spies could run rampant and invade everyone’s privacy. It will be interesting to see how this particular sector evolves in the coming years.

source: themerkle.com

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Bitcoin Exchanges Become Main Targets of Cyberattacks

Cryptocurrencies are relatively young and fragile, but already they’re under constant threats from cybercriminals. Just during this past week there have been multiple attacks on bitcoin exchanges, rendering their services useless and customers unable to buy, sell, or trade cryptocurrency.

Whether by accident or not, these attacks happened at the same time that investors’ interest in digital currencies has also gone through the roof. Cryptocurrencies are being rapidly adopted by multiple countries, institutions, services and agencies. Fundraising through ICOs is also reaching record heights, and people are starting to wonder if the cryptocurrency industry can handle that much attention all at once.

Experts on cryptocurrencies like the CEO and co-founder of a digital currency trading company Citizen Hex, Benjamin Roberts, say that investors must be very careful where they put their money. The more these organizations grow, the bigger the target is on their backs.

The increased number of attacks on bitcoin exchanges seems to confirm this point of view, and recently Bitfinex – which is the largest dollar-based exchange in the US – just reported a DDoS attack this Wednesday. The attack was attempting to increase the flow of data to the platform so that the system would end up paralyzed.


A similar attack also happened on Tuesday, but that one was dealt with within an hour. Still, despite the attack the exchange stated that most of their users wouldn’t be affected and services would resume to normal.

However, these two attacks weren’t an isolated incident. In fact, on Monday afternoon, a similar attack hit the BTC-e exchange. The fact is that these attacks aren’t really surprising for the seasoned trader, especially with the recent spike in interest in crypto markets.

That doesn’t mean that there’s no danger though, since cyber attack can have a quite the impact on the entire bitcoin market. For example, bitcoin’s price is set by multiple exchanges that are located around the world. If one of them was to be shut down, then the price differences could end up changing. There are also opportunists who are waiting for something like this to happen, and they would be ready to exploit the situation.

It’s true that the currency is still unstable, and on Monday, it even went down for $400 because of exchange problems. Only a day before that, it reached $3,000 for the first time ever, and on Wednesday, it went to $2,571. As you can see, each day is a different story. Hackers are taking advantage of the market instability to cause havoc with potential price manipulation in mind.

There’s also the issue of overwhelming traffic on the exchange websites. Coinbase for example, reported multiple complaints from customers who couldn’t access the website on Monday. The cause of the problems was simply too much traffic. Furthermore, Coinbase became inaccessible last night meaning users couldn’t transfer their coins or buy or sell cryptocurrency.

Bitcoin Exchanges are now breaking their records on a regular basis when it comes to unique viewers. At the same time, the business for these companies keeps on growing. Coinbase has even also recently opened 25 new positions as a response to this influx of business.

It is imperative that these services remain functional during peak times because it is necessary for Bitcoin’s growth. After all, we don’t want Bitcoin to look like it can’t handle an influx of users. If cryptocurrency services remain uninterrupted during busy times, it will show new investors that the industry is reliable and is ready for further growth. Let’s hope that these big Bitcoin exchanges enact preventative measures for future vulnerabilities and remain resilient to ongoing cyber attacks.

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3 Reasons Not to Use an Exchange Wallet to Participate in a Cryptocurrency ICO

Even though cryptocurrency ICOs have been going on for quite some time now, a lot of basic questions continue to show up. It appears there is a lot of confusion as to why one should never send funds to an ICO from their exchange wallet directly. There are several good reasons as to why this should not be done, though, as we outline below.

1. TRANSACTION DELAYS CAN COST MONEY

Contrary to what some people may think, exchange wallets do not always send out withdrawals right away. In some cases, it can take an hour or longer until your withdrawal is effectively processed. Depending on which cryptocurrency we are talking about, it may take even longer to get the necessary network confirmations. This is anything but a fun experience, especially when it comes to dealing with a cryptocurrency ICO.

These ICOs often provide early investors with some sort of a bonus. Having to wait until the exchange sends out your funds can result in buying less ICO tokens than initially anticipated. It is not something anyone wants to deal with. Even if an ICO is scheduled to last multiple days, there is no reason not to transfer funds to your own wallet first before participating in a crowdsale.

2. AN EXCHANGE WALLET IS NOT YOUR WALLET

It may be hard for novice users to understand this principle, but a cryptocurrency wallet is not like a bank account. With a bank account, you rely on a third-party service provider to safeguard your funds. That is exactly what exchange wallets are, yet they do not let users spend their funds as they want. You always need “permission” from the exchange wallet service provider to move funds around, which is both annoying and risky.

There is a big difference between an exchange wallet and a private wallet. With a private wallet, you are the only one controlling the wallet address and its associated private key. An exchange wallet is generated on your behalf, yet you have no control over it whatsoever. Although you can freely use an exchange wallet, it is not your digital property by any means. Unless you own its private key, it’s not yours, nor is any of the money associated with it.

3. YOU WON’T GET YOUR TOKENS (RIGHT AWAY)

Perhaps the biggest complication that arises when using an exchange wallet is how the purchased ICO tokens are not yours to control by any means. In most cases, a cryptocurrency ICO smart contract will send money back to the address the deposit was made from. If that wallet is an exchange wallet, the exchange is the actual owner of the tokens you purchased using their wallet. That is a rather disturbing way of buying ICO tokens, yet the end user cannot claim ownership of the tokens, as they do not own the wallet’s private key.

Granted, in some cases, exchanges will eventually support these ICO tokens and return the purchased amount to the customer. However, one has to keep in mind they have no legal obligation to do so by any means. If you send money to a cryptocurrency ICO address from a wallet, you do not fully control as the sole owner, it is your own fault. All ICOs clearly warn users not to send funds from an exchange to avoid any complications.





source:themerkle.com

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5 Mistakes Novice Bitcoin Users Make

The bitcoin ecosystem is open to anyone and everyone, regardless of their technical expertise regarding this matter. Novice users often find themselves dealing with a very steep learning curve, although this process has been simplified quite a bit. The following list of common mistakes highlights some of the problems novice bitcoin users have to deal with.

1. NOT REMEMBERING A WALLET PASSWORD

One thing most newbie bitcoin users get right from the get-go is how they enable password protection for their bitcoin wallet. This is a big step in the right direction, as without a password, anyone can easily hack one’s wallet. Such a scenario needs to be avoided at all costs, especially when considering it takes little effort to do so.

Unfortunately, this also brings us to one the most common problems for novice bitcoin users. A lot of people forget the password or passphrase they use to encrypt their bitcoin wallet. It is not uncommon for this to happen, although it poses a significant problem. Either note down the passphrase or save it in digital format on an offline device, just in case.

2. NO BITCOIN WALLET BACKUP

Regardless of which device novice bitcoin users rely on to store their bitcoin wallet, creating a backup is of the utmost importance. Since users control their bitcoin funds, they need to take proper precautions to make sure they can be accessed at any given time. Most wallet solutions have a native feature to back up the bitcoin wallet with relative ease. A backup is an absolute must in the world of bitcoin wallets, and there is no reason not to create one.



3. NOT RESEARCHING NEW SERVICES

Once novice bitcoin users gain access to the cryptocurrency industry, they have a plethora of services at their disposal. However, not all of these services are equal, as there are quite a few scams and Ponzi schemes floating around. Novice users always need to do their due diligence when looking into new bitcoin services before using them. Bitcoin transactions cannot be refunded by any means, and any money lost will be gone forever.

4. BUYING AND SELLING BASED ON EMOTIONS

It is difficult to gauge when one should buy or sell their bitcoin bags. Most novice users trade based on emotions and input provided by other users. This is not the best strategy by any means, as traders often seek to manipulate novice users into doing their bidding. This also means people will tell you to buy or sell bitcoin at a specific moment, in the hopes of getting people to do exactly that. Novice bitcoin users should never trade based on emotions or panic, even though it is only normal to do so. Never be guided by your emotions when it comes to bitcoin trading.

5. LEAVING FUNDS ON AN EXCHANGE

One of the biggest mistakes novice bitcoin users make these days is keeping funds in an exchange wallet. Exchange service providers only exist to facilitate buying and selling of bitcoin, but they should never be seen as a wallet service whatsoever. Keeping funds in an exchange allows exchanges to exert control over user’s bitcoin funds. This should never be the case, as novice bitcoin users need to move funds off the exchange platform as fast as possible

source: themerkle.com

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Here Are The Top 5 Most Respected Cryptocurrency Developers

Every cryptocurrency in the world needs a team of developers to take things to the next level. It is no surprise to find out people take a liking to specific developers, simply because they create new features or bring improvements to a particular cryptocurrency ecosystem. Below are some of the most respected cryptocurrency developers listed in a random order.

1. VITALIK BUTERIN


The career path of Vitalik Buterin is quite interesting taking note of. He co-founded Bitcoin Magazine many years ago and later on became the well-respected for developing the Ethereum protocol. Ever since inventing this ecosystem, he has been working on the project full-time. Moreover, he is a popular speaker at all types of events, including Ethereum’s very own Devcon conferences. Buterin is also known for his contributions to open source software projects, including DarkWallet, Egora, and Kryptokit



2. GAVIN ANDRESEN

Although most people have nothing but respect for Gavin Andresen as a developer, his reputation took a small hit during the entire Craig Wright debacle. Wright had seemingly convinced Andresen that he was the one and only Satoshi Nakamoto, the mysterious creator of bitcoin. When Wright failed to produce the evidence validating his claims, some people briefly questioned Andresen’s role in the bitcoin development team. Despite what some people may think, Gavin is still one of the most-respected bitcoin developers and his expertise is invaluable.


When talking about cryptocurrency developers, it is impossible to overlook Gavin Andresen. He has been one of the most prominent members of the bitcoin developer team ever since discovering the cryptocurrency project in 2012. He also used to operate a bitcoin faucet in those early days, through which he helped distribute this now-popular cryptocurrency to novice users looking to get acquainted with the ecosystem


3. RICCARDO SPAGNI

Better known as Fluffypony, Riccardo Spagni has made quite a name for himself for being involved in cryptocurrency projects since 2012. Most people know him for his role in the development of Monero, a popular cryptocurrency focusing on anonymity and privacy. Riccardo is also a well-respected speaker at various conferences and meetups, during which he tried to explain the intricate working of Monero.


4. CHARLIE LEE

The infamous creator of Litecoin has proven time and time again to be a valuable member to the cryptocurrency community. Even though little changes have been made to Litecoin over the past few years, Charlie lee remains an active developer to this very date. Moreover, he often weighs in on discussions pertaining to bitcoin and other popular cryptocurrencies. One of his latest feats of development revolves around porting Segregated Witness to Litecoin, although it remains to be seen if this solution will ever be activated.


5. EVAN DUFFIELD

Most people will know Evan Duffield as the person responsible for creating the Dash ecosystem. The project was formerly known as XCoin and DarkCoin before switching to a more marketable name. Even though some people still question initial coin distribution once the project launched, Evan Duffield has become one of the most recognized developers in cryptocurrency. Given the recent price increase Dahs has gone through, it is evident his efforts – as well as those made by all of the other contributors – are receiving well-deserved recognition.

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Top 5 Best Bitcoin Beginner Wallets.

Earlier I had written a list of the Top 5 easiest ways to buy bitcoin. Even the bitcoin beginner is warned against storing coins online in exchange wallets. After all, we are living in the new age of cyber warfare. I’ve put together another list this time around: the top 5 easiest and safest wallets for beginners to store bitcoins. If you want a more comprehensive comparison, checkout this bitcoin wallet comparison chart and reviews.

1. ELECTRUM

This is the best wallet for desktop users, hands down. The feature that drove me toward Electrum in the first place was the fact that you can open multiple wallets using the same seed. You can also create and sign transactions without being connected to the internet. In addition you have the option of downloading a “root public key” that you can use with mobile applications to monitor your Electrum wallets.

 

2. BREADWALLET

Breadwallet is a great wallet for iOS users. Just like the Mycelium wallet it stores your Bitcoin keys on your phone giving you full control over your funds. Furthermore, breadwallet uses fingerprint or a passcode in order to lock the wallet.

3. BLOCKCHAIN WALLET

While it’s not the most unsecure wallet out there, it’s coming in at number three, due to the fact that it’s the most known. This has made Blockchain Wallet the biggest target for hackers looking to steal your bitcoins. Blockchain is aware of this, and has implemented client-side AES encryption, which protects your walled from a hack of the server. This wallet supports offline transactions as well, and a double encryption process along with two factor authentication. Blockchain Wallet also lets you back your wallet up onto Google Drive or Dropbox, and lets you download your wallet manually. To help combat server hacks, they have set up regular off-site server side backups every hour. They even have a mobile wallet, as do the rest of the wallets on the list.

4. MULTIBIT

Multibit is a software wallet. Like other software wallets, it encrypts your private key with a handy save to USB option. The thing that makes Multibit stand out is that is doesn’t need to download the whole blockchain to access, send, or receive bitcoins. Instead, it is connected directly to the bitcoin network and only has to download a small section of the blockchain, which enhances its speed tremendously. This also enables it take up less hard drive space on your computer. It is available to multiple platforms.

5. MYCELIUM

A great mobile wallet for Android and iOS users. If you are just starting with Bitcoin, Mycelium is has a simple UI that is easy to navigate. The Bitcoin keys are stored on your phone meaning you have full control over your Bitcoins. Furthermore, you are provided with a seed when you first register the wallet which should be written down and stored in a safe place. In case you loose your phone, you could recover the wallet using the secret 12 word seed.

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