Ethereum creator, Vitalik Buterin, and Gemini exchange founders, Cameron and Tyler Winklevoss, expressed their opinions on recent efforts at social media censorship. “I’ve talked before about the rise of corporations regulating governments but here we have Twitter soft-censoring the U.S. president on the grounds of incitement of violence,” Buterin said in a May 29 tweet referencing recent Twitter posts from U.S. President Donald Trump. “This is a major escalation and could be a new chapter in relations between corporations and states,” Buterin added. A tangled mess of tweets, executive orders,…
Day: May 29, 2020
Satoshi Invented GPU Mining to Defend the Network Says Early Dev
Satoshi Nakamoto had pre-invented Bitcoin (BTC) GPU mining in order to defend the network, says early Bitcoin developer who worked with the Bitcoin creator in 2010. Laszlo Hanyecz, who is known for making the first real-world Bitcoin transaction, has also been credited with inventing Bitcoin GPU mining. However, in a Cointelegraph interview, he said that not only Satoshi had invented it before him, but he also had several versions of the algorithm. Hanyecz’ Bitcointalk Post Describing GPU Mining. Source: Bitcointalk.org. “Hey, go slow with this” According to Hanyecz, one of…
This Eerily Accurate Fractal Predicts Bitcoin Will Rocket to $20,000 in 2020
While Bitcoin is up 5% over the past two days, the crypto-asset market remains in consolidation. After hitting $10,100 in late April, the cryptocurrency has stagnated under that key level. It has since traded in a relatively tight consolidation pattern from $8,500 to $9,500, failing to move decisively out of this range. Though a popular trader says that Bitcoin is currently showing signs it will soon rocket higher. The sign cited is a fractal the asset has tracked for the past three years. Related Reading: Crypto Tidbits: Satoshi Isn’t Dumping…
Alibaba Signs Blockchain-Related Deal With Chinese Port Operator
China’s biggest port operator, China Merchants Port, reached a deal on May 28 with the e-commerce giant, Alibaba Group, and its affiliate, Ant Financial. This deal will allow for the development of a blockchain-based platform, which will target a number of different use cases. According to local media, the platform will allow buyers, sellers, logistic companies, banks, customs, and tax officials to conduct contactless digital export and import transactions. The companies will promote an in-depth integration of blockchain technology in the port industry. Their goal is to become the world’s…
Congress Fears US Is Losing Battle to Malware and Darkweb Cyberweapons
In a May 28 virtual roundtable before the congressional Subcommittee on National Security, International Development and Monetary Policy, witnesses and congresspeople alike feared that they are not keeping up with criminals hacking the financial system. Criminals have better resumes than government agents One witness, Guillermo Christensen, a partner at law firm Ice Miller, admired the cyber talent operating illegally: “We are always playing catch up with the criminals. […] It’s very hard to find people who are as qualified as some of these criminal hackers, frankly, to take apart their…
JPMorgan Chase Settles Crypto Credit Card Lawsuit for $2.5M
Banking giant JPMorgan Chase settled a 2018 lawsuit recently, with a $2.5 total payout — the result of unclear fees charged when using credit cards for crypto purchases. A May 26 court document detailed: “The Court notes that Defendant JPMorgan Chase Bank, N.A., f/k/a Chase Bank USA, N.A. (“Chase” or “Defendant”) has agreed to provide a Cash Settlement Amount of an aggregate of $2,500,000 in cash.” The lawsuit stemmed from lack of clarity In January 2018, JPMorgan Chase quietly altered the terms of use around its credit cards when dealing…
Emin Gün Sirer’s AVA Labs to Distribute 2M Tokens Ahead of Full Launch
AVA Labs, a blockchain protocol founded by Cornell’s Emin Gün Sirer, is planning to distribute 2 million tokens in its final testnet before the project’s full launch in summer. The so-called “Denali Testnet” will serve as the final stage of the AVA network testing before AVA’s mainnet launch. The new testnet will allow each validator to earn up to 2,000 AVA network’s native tokens, AVA Labs announced on May 29. AVA Labs tokens are not yet listed on any cryptocurrency exchange and are not available for public purchase, a spokesperson…
Not Your Tulip Trust? Message Calling Craig Wright ‘Fraud’ May Unlock the Case
Infamous cryptocurrency figure Craig Wright faces newfound legal challenges over more than 1 million Bitcoin (BTC) after addresses listed in the Tulip Trust were used to sign a message labeling him a fraud. Wright has long been a divisive figure within the cryptocurrency community, having made unverified claims of being Satoshi Nakamoto, the founder of Bitcoin. These claims have been met with derision and disbelief by various prominent industry participants, including Ethereum founder Vitalik Buterin, podcast host Peter McCormack and Bitcoin Cash (BCH) proponent Roger Ver. Wright went as far…
Price Analysis 5/29: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, XTZ, ADA
Many altcoins are showing significant strength as they approach their 200-day moving averages, this suggests that the sentiment in the sector remains bullish. Author: Cointelegraph By Rakesh Upadhyay Source link
Blockchain Battery Grids Are Powering Up at Lightning Speed
Equigy, a blockchain platform for managing batteries connected to the electric grid, is expanding its operations in the European Union. Ecologic technology news outlet, Green Tech Media, reported on May 29 that three major European Union’s electricity transmission system operators, or TSOs, joined Equigy’s platform. More precisely, TSO with operations in Germany and the Netherlands TenneT, Swiss TSO Swissgrid and Italian TSO Terna all joined the network. According to company data website Owler, TenneT has an estimated annual revenue of $1 billion, while Terna $2.3 billion. Furthermore, Energinet — a…