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Live From NEO DevCon: Top 5 New Features of NEO 3.0

neo

In a packed conference room on a chilly day in Seattle, where NEO will be opening up their next NGD location, a community of blockchain enthusiasts, international media, and developers gathered together to hear about NEO’s upcoming plans–specifically, what’s going on with NEO 3.0–and when.


The Goal of NEO 3.0

NEO co-founder, Erik Zhang, couldn’t attend the conference in person but delivered the details via video presentation. Perhaps that was a deliberate bid to avoid the foray of questions the intensely technical upgrades would almost certainly provoke.

Zhang revealed the lofty goal of NEO 3.0–to enable large scale commercial applications. He said that although blockchain had been 10 years in the making:

No blockchain is currently capable of supporting large scale communications applications

And, no blockchain will–for the foreseeable future, anyway–the timeline for NEO 3.0 remains decidedly TBD.

NEO 3.0 is meant to address NEO’s current issues with gas price, platform stability, and scalability, among other things.

However, Zhang neglected to mention that to pull this off they will likely require a complete overhaul of NEO as we know it–a hard fork and possible return to a Genesis block.

Top 5 New Features of NEO 3.0

In the meantime, here are the top five new features the community can expect from NEO 3.0 (all of which won’t happen next month, next quarter, or even next year). NEO 00 isn’t even thinking about breaking ground with NEO 3.0 until 2020–and that’s an optimistic target.

1. Native Contracts

The first new feature of NEO 3.0 will be the addition of a native contract. NEO’s current smart contracts are run in NEO’s VM and can be deployed by any user.

NEO DevCon

With the native contract, they can run any native code directly, are embedded in the core code without deployment, and the contract upgrade does not cause hash changes. Why is this important?

Because it will allow for instant verification of transactions, greatly increasing TPS speed. The addition of native contracts will also allow for unlimited data storage.

2.  All Assets Created in Smart Contracts

There are a few ways to create assets on NEO, explains Zhang, but they are rarely used and most applications create contract assets (such as STOs) as they are more practical.

Therefore, they will not support global assets in NEO 3.0. This will streamline and improve system performance. All assets will be created in smart contracts.

3. Internet Resource Access

This will allow users to access internet resources in smart contracts through URLs. Consensus nodes can vote on data consistency and execute smart contracts through internet resource access.

NEO DevCon

Again, scaling up, improving TPS, and allowing for greater speed.

4. Improved dBFT Consensus Mechanism

This will remove the problem of flaws in the network by adding additional steps in how the Consensus mechanism work. This is especially important when a node has been offline.

NEO DevCon

When the Consensus node comes back online, it needs to synchronize with other nodes, which takes time. In the new dBFT, NEO will add a recovery log and recovery message, which means that dBFT can truly make transactions irreversible. Zhang states:

This will be the best consensus mechanism for blockchain.

5. NeoFS

NEO smart contracts can’t really store data, at the moment. The cost is extremely high, which means that it cannot offer a workable solution for enterprises just yet.

So, they plan to use NeoFS to build a low-cost distributed storage network that will support large enterprises.

Users can use the space to store data by paying in gas and everyone in the network can earn gas by sharing unused hard disk space.

Wrapping It Up

If you’re trying to wrap your head around all that (as many people are), we’ll be breaking it down further by asking the man with the answers–co-founder Da Hongfei tomorrow.

But basically, what it all amounts to is greater security, increased TPS, higher efficiency, and reducing the price. Oh, and making NEO “the best blockchain.”

Ambitious plans that will align the blockchain with the smart economy of the future. Just not any time soon.

Can NEO become a serious rival to Ethereum and other smart contract platforms? Share below!


Images courtesy of Shutterstock

The post Live From NEO DevCon: Top 5 New Features of NEO 3.0 appeared first on Bitcoinist.com.

Source: Bitcoininst

XRP Ledger Version 1.2.0 Announced Following JPM Coin FUD Storm

xrp

On Feb 13, 2019, Ripple officially announced the release of XRP Ledger version 1.2.0. 


The newest version of the ‘decentralized’ peer-to-peer (P2P) cryptographic ledger for XRP storage will boast the automatic detection of censorship attempts in addition to the automatic issuance of warnings. Explains the official announcement:

One of the major benefits of decentralized blockchain technologies, such as the XRP Ledger, is censorship resistance. Already highly resistant to censorship attempts, with the release of version 1.2.0 of the XRP Ledger, servers now have the ability to automatically detect transaction censorship attempts and issue warnings of increasing severity for transactions that a server believes should have been included in a closed ledger after several rounds of consensus.

XRP Ledger version 1.2.0 will also implement the MultisignReverse Amendment. This will lower the reserve requirement for signer lists for Multisign.

Additionally, the code has seen “incremental improvements” for the handling of offers in the decentralized exchange.

Those running an XRP Ledger server are recommended to upgrade to version 1.2.0 by Feb 27, 2019. Failure to do so will result in the server becoming “amendment blocked.” According to the announcement, these blocked servers:

Cannot determine the validity of a ledger;
Cannot submit or process transactions;
Cannot participate in the consensus process;
Cannot vote on future amendments; and
Could rely on potentially invalid data.

xrp fud

Stiff Competition

Ripple is currently experiencing a healthy dose of FUD following the announcement from JPMorgan Chase that the major financial institution would be launching its own in-house cryptocurrency, JPM Coin.

The announcement from JPMorgan has led many to view Ripple’s XRP as merely a test-case for major banks to create their own blockchain-based solutions — something Bitcoinist suggested in March 2018 when we wrote:

So even though global networks like SWIFT may be technologically inferior to RippleNet, for example, the XRP token would simply not be needed because supranational institutions and governments certainly will —and some already are — issue their own tokens to maintain full control over their monetary systems.

What do you think about the update to XRP Ledger? Has JPMorgan single-handedly rendered XRP obsolete? Let us know your thoughts in the comments below!


Images courtesy of Shutterstock.

The post XRP Ledger Version 1.2.0 Announced Following JPM Coin FUD Storm appeared first on Bitcoinist.com.

Source: Bitcoininst

TomoChain Founder Hits Back at Vitalik – Says Ethereum in for a Tough Year

Vitalik Buterin Tomochain

Ethereum founder Vitalik Buterin is well-known for dismissing blockchain projects that claim high transaction speeds as “centralized” and unworthy. Long Vuong, founder of TomoChain (TOMO) has fired back with some criticism of his own.


TomoChain Offers 1,000TPS Compared to Ethereum’s Double Digits

The TomoChain network aims at being a public EVM-compatible blockchain with faster and cheaper transaction fees, among other features and promises.

Except it isn’t all just hot air. Their network already boasts transaction speeds of 1,000TPS–compared to Ethereum’s double digits.

Vuong recently stuck the knife into Ethereum, saying:

There are trade-offs in most systems. But Vitalik won’t be the one who makes the call about what’s trash and what isn’t.

He then twisted it a little further, adding:

This year won’t be a good one for Ethereum… Vitalik and Ethereum are in a difficult place. On one hand, they are disrespected by the Bitcoin maximalist camp, on the other they cannot seem to solve performance issues efficiently.

TomoChain Fights Back at Vitalik

Vitalik came out at the Blockchain Connect conference earlier this year stating that many projects that claim high transaction speeds are more centralized than the Ethereum network.

ethereum eth

In fact, he criticized them, saying:

A lot of the time when a blockchain project claims it can do 3,500TPS because it has a different algorithm, what it really means is ‘we’re a centralized pile of trash’.

Vuong took exception.

He highlighted TomoChain’s already impressive transaction speeds at 1000TPS, 150-plus master nodes, and lower fees to boot.

TomoChain’s mainnet launched in December 2018 and has been slowly gathering traction. Vuong firmly believes that his Singapore and Vietnam-based company can provide a viable solution for Ethereum’s scalability woes.

Ethereum Contracts Can Easily Transition to TomoChain

TomoChain is certainly an interesting prospect, centralized piece of trash or no. It already features 150 masternodes, with a Proof-of-Stake voting consensus method, low fees, and almost instant transaction confirmation.

More importantly, TomoChain is Ethereum Virtual Machine-compatible (EVM). This means that contracts written in Ethereum can be ported to TomoChain without friction.

This could give struggling ETH DApp developers another way of bringing their projects over the finish line.

Since its well-publicized scaling issues, many ETH DApps are practically inactive with 93% of them reporting zero transactions in 24 hours last week. If projects like TomoChain start picking up speed, they may just give Vitalk a run for his money.

Will other platforms unseat Ethereum when it comes to smart contracts? Share your thoughts below!


Images courtesy of Shutterstock

The post TomoChain Founder Hits Back at Vitalik – Says Ethereum in for a Tough Year appeared first on Bitcoinist.com.

Source: Bitcoininst

Visa, Mastercard Plan To Increase Transaction Fees; Cryptocurrencies Don’t

bitcoin visa mastercard

Visa and Mastercard are planning to increase transaction fees for US merchants who accept card payments, Reuters reports. The hikes, which come into effect in April 2019, are likely to further damage already the fragile relationship between payment providers and merchants.


Fees-Us Christ

According to sources, the increases will firstly affect interchange fees, which merchants pay their banks when accepting a card transaction. Fees that the banks pay to Visa and Mastercard for processing payments will also increase, says the report.

A spokesperson for Visa confirmed that fees would rise in April, but only for banks, not merchants. However, banks are not known for their benevolence, or for reducing profits by absorbing costs. So they are likely to pass on these fee increases to the merchants.

Similarly, merchants exist to make a profit, so will have to weigh up whether to pass these costs on to the consumer.

Bottom line – We’re all getting stung.

In The Name of Security

The card companies tend to justify their fees by claiming security measures must be enhanced to prevent fraud and theft. They also point out that merchants receive more sales if they accept card payments.

But in Q4 2018, Visa’s net income rose to $2.85 billion, an increase of 33% on results for Q4 the previous year. Similarly, Mastercards Q4 profits last year climbed to $1.9 billion, also a 33% jump on the $1.43 billion in Q4 2017.

Perhaps the fees need to be raised to cover the $6.2 billion payout the two companies faced after losing a US anti-trust case? Although that money had supposedly already been set aside, the merchants are gearing up for round two.

Or perhaps US fees need to be increased to offset reduced profits (not losses, never losses) in Europe, due to anti-trust investigations there?

Bottom line – Visa and Mastercard are not to be trusted.

The People Are Revolting

Or at least the people should be revolting. We are all being overcharged thanks to the hegemony of the big two payment processors.

But there are alternatives… and they scare the crap out of Visa and Mastercard. That’s why, despite a widespread denial in financial circles that Bitcoin is anything like cash, they both charge cash-advance fees for bitcoin purchases.

And now that Visa and Mastercard are throwing their weight into political arguments, we should be demanding that our favored merchants accept cryptocurrency payments. After all, if accepting card payments increase overall sales then accepting bitcoin opens up a whole new market.

And all efforts are going towards reducing fees for bitcoin and crypto transactions.

Bottom line – We would all be better off using bitcoin.

Can cryptocurrencies capitalize on Visa and Mastercard raising their fees? Share your thoughts below!


Images courtesy of Shutterstock 

The post Visa, Mastercard Plan To Increase Transaction Fees; Cryptocurrencies Don’t appeared first on Bitcoinist.com.

Source: Bitcoininst

4 Bitcoin Trends Likely to Dominate 2019

bitcoin chess

Now is the time when people typically start assessing what the year ahead is likely to bring for various topics and industries. Bitcoin is no different. Investors and enthusiasts will likely notice several trends becoming prominent. Here are four of them.


1. Bitcoin-Compatible ATMs Become Widely Available

Reports indicate 2019 will be the year that Bitcoin ATMs take off in cities across the United States. Chicago recently got 30 new machines, bringing the city’s total to nearly 100, with Philadelphia having approximately the same amount.

Those ATMs are solely for dispensing bitcoin, but there are traditional ATMs in New York that give this currency to users. Interested persons create accounts with LibertyX, a bitcoin payment provider. After passing the approval process, they can purchase up to $3,000 worth of bitcoin per day using their debit cards at ATMs.

bitcoin atm

These ATMs could encourage people to start using bitcoin for the first time or start dealing with the cryptocurrency more extensively than before. Individuals are accustomed to using ATMs to serve their financial needs, so it’s not a big step for them to get bitcoins from ATMs too.

2. More Involvement From Central Banks With Bitcoin and Other Cryptocurrencies

One of the things people typically love about bitcoin is that they can use it without having bank accounts. However, in 2019, one of the bitcoin trends that may become apparent is that central banks start supporting cryptocurrencies by supplementing their gold reserves with them.

During a presentation at the first bitcoin summit in Israel, bitcoin pioneer Nick Szabo outlined the reasons why he predicts more countries will begin using cryptocurrencies, especially in places that are subject to extreme conflict or financial mismanagement. He also believes central banks will start to supplement their gold reserves with cryptocurrencies.

Szabo explained: “There’s going to be some situations where a central bank can’t trust a foreign central bank or government with their bonds, for example. One solution that’s been developed is to have the Swiss government hold it for you – that’s not a trust-minimized solution. The Swiss government itself is subject to political pressures, and so a more trust-minimized solution is cryptocurrency.”

In 2018, Christine Lagarde, the managing director of the International Monetary Fund (IMF), also expressed why central banks should issue cryptocurrencies. This trend may not reach full-scale adoption in 2019, but it’ll become evident that central banks shouldn’t shy away from bitcoin or the crypto industry at large.

jpmorgan

Just this week, JPMorgan announced its own ‘cryptocurrency’ dubbed JPM Coin to much criticism.

3. A Push Toward More Bitcoin-Centric Tourism

In May 2013, someone spent 10,000 BTC on pizza, but a more recent trend is an increase in companies and localities encouraging tourists to spend Bitcoins when they travel. In March 2018, Germany’s tourism board began accepting Bitcoin for its services.

More recently, an Australian beach town in Central Queensland became the first digital currency-friendly tourist town.

When people travel to different countries, one of the first things they typically have to do is visit currency exchanges. If this trend continues, people could do away with that necessity and travel solely with Bitcoin. Doing that requires planning, but it could end up being convenient for travelers who don’t want to deal with traditional money when they’re away from home.

4. An Increase in Smartphones That Store Bitcoin

A look at the plans for future devices made by tech brands indicates there’s a push for smartphones with integrated wallets that store bitcoin and other cryptocurrencies. In late 2018, HTC announced the Exodus 1, which is a blockchain-focused phone with a wallet. People could only buy the phone with cryptocurrencies.

HTC exodus 1

Rumors are also swirling that the Samsung Galaxy S10 will have a crypto software wallet via a trademarked invention called the Samsung Blockchain KeyStore.

It’s too early to say how successful such phones might be, but these early adopters could spark a more significant trend if users prefer this approach to hardware wallets, for example. Tech brands watch what competitors do and don’t want to wait too long to offer similar products if they seem viable.

[Note: This guest article was submitted by Kayla Matthews]

Do you agree? And what other trends do you see for Bitcoin this year?


Images courtesy of Shutterstock

The post 4 Bitcoin Trends Likely to Dominate 2019 appeared first on Bitcoinist.com.

Source: Bitcoininst

Huobi’s V2.0 ‘Stablecoin for Stablecoins’ Aims to Close Arbitrage Loophole

stablecoin HUSD

Stablecoins are increasing their visibility within the crypto space as the universe of stablecoins expands and they become easier to trade. Now, digital exchange Huobi Global offers, as a trial, the HUSD Solution V2.0 to provide traders with support for interchangeability between various stablecoins.


All Stablecoins Seek to Lower Volatility But They are Not 1:1 Interchangeable

Stablecoins’ purpose is to minimize price volatility by being pegged to a fiat currency or an exchange-traded commodity, such as a precious or industrial metal.

The HUSD Solution V2.0 offers support for interchangeability between four stablecoins: Gemini Dollars (GUSD), Paxos Standard (PAX), True USD (TUSD), and USD Coin (USDC). These four coins are represented by one token, the HUSD.

Users can deposit any PAX, TUSD, USDC, or GUSD, and then withdraw any of these four tokens, regardless of which token was initially deposited. Neutral’s article entitled “Case Study of Huobi’s HUSD Solution,” explains,

When you deposit any kind of stablecoins, they will be shown as HUSD in your account. You may withdraw any kind of stablecoin; when the balance amount of a certain stablecoin is not sufficient in your account, you may choose any other stablecoin with enough balance amount to withdraw.

When announcing the launch of HUSD (V.1) in October 2018, Huobi Global claimed that the HUSD aimed to facilitate traders’ decision-making processes among various stablecoins, while saving trading costs. However, design flaws were detected in the first HUSD version.

According to Neutral, the problem with the original version stemmed from the fact that it allowed for 1:1 interchangeability between PAX, TUSD, USDC, and GUSD. That is, any of these coins could be exchanged for USD 1.

However, Neutral notes that Huobi Global overlooked the fact that “stablecoins are not interchangeable on a 1:1 basis even though they are equivalent in redeemable value.”

These slight price discrepancies contributed to the issuance of various tokens to people at a rebate to increase liquidity. As a result,

Traders then took advantage of the situation, using the HUSD solution to redeem and arbitrage for full price. In this situation the 1:1 ratio between stablecoins offered by HUSD did not hold, and market makers took advantage to earn a quick profit.

HUSD Solution V2.0 now removes the fixed 1:1 exchange rate, basing the values between stablecoins not only on pricing but also on various other factors.

For example, among other factors, the underlying stablecoin price is now set by data obtained from various mainstream exchanges. And, “Users have to designate time and amount independently to interchange stablecoins, going from an automatic exchange to a manual one.”

Is There a Stablecoin Craze?

The stablecoins universe is expanding. For example, in October 2019, GMO Internet announced the launch of a Yen-pegged stablecoin. And, last month, Cryptogarage joined forces with Tokyo Tanshi to launch the Liquid sidechain based SETTLENET suite, which aims to be the first application Yen-pegged stablecoin.

In January 2019, KRWb also announced the upcoming launch of the KRWb, which is going to be a 1:1 Korean Won-pegged stablecoin.

This past week saw JPMorgan unveil its JPM Coin stablecoin that will be used in securities transactions and as part of the bank’s treasury services features.

Moreover, Facebook, according to a Bloomberg report, wants to issue its own stablecoin to allow WhatsApp users to exchange money.

For many, stablecoins represent the future. As CoinJar co-founder Asher Tan put it, “It’s a craze right now.”

Do you think stablecoins will become mainstream crypto assets shortly? Let us know your thoughts in the comment section below.


Images courtesy of Shutterstock

The post Huobi’s V2.0 ‘Stablecoin for Stablecoins’ Aims to Close Arbitrage Loophole appeared first on Bitcoinist.com.

Source: Bitcoininst

Crypto Startups Are Targeting Institutional Investors, But When Will They Finally Arrive?

institutional investors

In case you didn’t realize it during the brutal bear market of 2018, the days of stupid money flowing stupidly into any and every cryptocurrency-related project are over. Now, it’s all about the maturity of the nascent market, and that means institutional investors ‘need’ to step in — a sentiment not lost on some startup companies. 


One such startup is Tagomi, a Jersey City-based company of under 20 people that offers a trading platform for institutional investors looking to throw around big bucks. As noted by Forbes, the company boasts an ex-global head of electronic trading at Goldman Sachs and a Harvard grad with experience at Union Square Ventures as founders, alongside a consulting/private equity/venture capitalism expert.

Tagomi apparently works by providing institutional clients with easier onboarding into the world of cryptocurrencies by pooling liquidity from approximately 10 exchanges and finding the lowest prices via algorithms — for a commission of 0.10 percent to upwards of 0.25 percent per trade, of course. Co-CEO Greg Tusar explained:

The current exchange model requires you to prefund your trade. When you want to buy $1 million of bitcoin, we need to have thought through where you’re likely to want to buy.

Tagomi aims to make life easier for institutional investors by storing hefty funds on Coinbase Pro, Gemini, Kraken, Bitstamp, and others.

Of course, “institutional investors” has been a buzzword for, at least, a solid year now. Many people speculate that smart money is still on the sidelines, but others insist that this belief is misguided. The world’s most successful traders and investors buy the bottom and sell the top. To think that institutional investors are not currently playing the game might be foolish. (If they are, they are almost certainly on the short side until a true bottom for Bitcoin hits.)

Tusar claimed:

Current trading volumes underestimate what we see in terms of institutional interest.

What do you think about Tagomi? Are institutional investors playing the waiting game, or are they already here? Let us know your thoughts in the comments below!


Images courtesy of Shutterstock.

The post Crypto Startups Are Targeting Institutional Investors, But When Will They Finally Arrive? appeared first on Bitcoinist.com.

Source: Bitcoininst

Nvidia Mining Chip Sales Drop 30% in Q4 Amid ‘Post-Crypto Excess’

nvidia chip

Nvidia managed to survive declining cryptocurrency mining chip demand to post total full-year revenue of $11.72 billion. The company forecasts an aggressive rebound for the 2020 fiscal year, but Wall Street analysts say such forecasts are overly optimistic given the lack of significant change in the market.


Sale of Cryptocurrency Mining Chips Plummet

The U.S. gaming hardware maker released its full-year earnings report for the 2019 fiscal year (which ended on January 27, 2019) on Thursday. According to the report, the company’s total revenue for the year stood at $11.72 billion, a 21 percent increase from the previous year.

Despite the overall earnings growth, Nvidia reports an underwhelming Q4, with earnings down by more than 30 percent from Q3 figures. This decrease is largely due to a drop in demand for computer chips by cryptocurrency miners.

For half of 2018, miners seemed relatively untouched by the prolonged bear market that gripped the rest of the cryptocurrency arena. However, by Q3 2018, it began to become apparent that miners were starting to fill the pinch.

Back in May, Bitcoinist reported that they expected a 67 percent drop in the sale of graphics card used by cryptocurrency miners. The mid-November 2018 bitcoin price crash, which almost took BTC to nearly $3,000, also exacerbated the situation with many miners forced to turn off their rigs.

Commenting on the Q4 performance, Nvidia CEO, Jensen Huang, said:

This was a turbulent close to what had been a great year. The combination of post-crypto excess channel inventory and recent deteriorating end-market conditions drove a disappointing quarter.

Wall Street Says Future Rebound Remains Unlikely

To reassure investors, Nvidia issued a forecast based on an aggressive rebound in demand, but Wall Street analysts don’t share the same view. According to analysts like Gene Munster of Loup Ventures, the projections from Nvidia do not seem realistic.

Speaking to Reuters, Munster opined that the predicted 35 percent growth in year-over-year revenue for the fiscal year 2020 assumes a boom akin to that of 2017 cryptocurrency market.

With the U.S./China trade face-off still unresolved and no significant upward movement in the virtual currency market, analysts say demand from miners isn’t expected to rise any time soon.

Do you envisage any scenario where there will be a trend reversal in demand for cryptocurrency mining chips in 2019? Let us know your thoughts in the comments below.


Image courtesy of Nvidia, Shutterstock

The post Nvidia Mining Chip Sales Drop 30% in Q4 Amid ‘Post-Crypto Excess’ appeared first on Bitcoinist.com.

Source: Bitcoininst

SEC Obtains Preliminary Injunction Against Blockvest For Fraudulent Securities Offer

The Securities and Exchange Commission (SEC) has announced a preliminary injunction granted against Blockvest LLC for unlicensed security offer. This overturns a previous court order, claiming that the SEC failed to prove that the token was a security.


Another Day, Another Court Case

In June last year, the SEC decreed pretty much every cryptocurrency other than Bitcoin and Ethereum to be a security. Since then, it has ramped up its ICO litigation, in what, at times, seemed like some kind of personal vendetta.

Blockvest LLC and founder, Reginald Buddy Ringgold III (aka Rasool Abdul Rahim El), initially seem like any other unfortunate target. The SEC filed an emergency court order in October 2018, suspending the ICO, and halting all pre-ICO activities.

The allegation was that Blockvest were raising funds for financial products promising passive income and double-digit returns. However, in November, a court ruled that the SEC had failed to prove that the BLV token was a security.

Cue the popping of champagne corks by Reginald Bloody Whatever-he-wants-to-call-himself III.

Hold Onto Your Horses Though

There was a little bit more to this story though, as Blockvest had (falsely) claimed that the fund was ‘licensed and regulated.’ It proudly boasted approval from major financial regulators, including the SEC, whose seal it illegally appropriated.

Not content with this, Ringgold had also promoted the ICO with his own fake regulatory agency, the Blockchain Exchange Commission. The ‘BEC’ had a strangely similar seal to the SEC and shared the same address as the SEC headquarters.

Whether the BLV token is a security or not, it is hard to argue that the ICO offer was not fraudulent in several respects. Also, the securities regulator has promised the aggressive pursuit of all unaccredited securities sold on the US market. Using its seal without permission is hardly going to inspire lenience.

So, of course, the securities watchdog continued its pursuit, and as of February 14, had managed to convince the court that promotion of the BLV token was after all a security, according to the Howey test.

Back at you, Reggie.

What do you think of the regulator’s actions? Share your thoughts below!


Images courtesy of Shutterstock

The post SEC Obtains Preliminary Injunction Against Blockvest For Fraudulent Securities Offer appeared first on Bitcoinist.com.

Source: Bitcoininst

You Can Now Buy Bitcoin At The Post Office In Liechtenstein

VADUZ, LIECHTENSTEIN bitcoin

The national post service of the small European country of Liechtenstein has confirmed it will now offer Bitcoin (BTC) sales as part of its product range.


Liechtenstein Post: Bitcoin Exchange ‘No Different From Fiat’

In a press release, Liechtensteinische Post confirmed that as of February 15, anyone could exchange fiat currency for Bitcoin at its branch in the capital Vaduz.

Part of a quest to expand the Post’s business scope, cryptocurrency sales follow on from the extant fiat exchange service currently available in branches across the country.

The integration was made possible via a partnership with Vaerdex Suisse, a cryptocurrency ATM and Point of Sale payment processor from neighboring Switzerland’s Crypto Valley community.

“In essence, nothing is any different from the standard currency exchange procedures already part of the Post’s offerings,” the release explained.

Together with Vaerdex Suisse we were able to find a competent partner to build out the business model.

Crypto Valley Extends Impact

It remains unclear how much customers will be able to purchase, and what kind of “physical” Bitcoin wallet first-time buyers will receive.

In future, the Post says it wants to roll out the scheme across Liechtenstein, adding altcoins in addition to Bitcoin: Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC) and Ripple (XRP).

Like Switzerland, the country has previously shown a forward-thinking attitude to cryptocurrency adoption. Last year, even its banking sector came on board, with Bank Frick offering cryptocurrency purchases and cold storage facilities.

Prior to that, the Crown Prince of Liechtenstein publicly expressed interest in investing in the industry.

The Post’s move marks the latest expansion success for Crypto Valley, the increasingly large community centered in the Swiss town of Zug. Last month saw Bitcoin ATM manufacturer Lamassu relocate to the town, a decision which echoed that of wallet and storage provider Xapo, which completed a convoluted hop from the US in 2017.

What do you think about Liechtensteinische Post offering Bitcoin? Let us know in the comments below!


Images courtesy of Shutterstock, Bitcoinist archives

The post You Can Now Buy Bitcoin At The Post Office In Liechtenstein appeared first on Bitcoinist.com.

Source: Bitcoininst