Tag Archives: bitcoin

Markethive Announces Chief Financial Officer: Alexander Logie

Markethive Announces
Chief Financial Officer:
Alexander Logie


State-of-the-art Integrated Inbound Marketing Platform, Social Network, Artificial Intelligence,
Business Services, eWallet, Coin Exchange, Mining Datacenter, and Faucet Lead 
Portals for Success in the Cryptopreneurial and Entrepreneurial Markets.

Cheyenne, WY – May 12, 2018: Thomas Prendergast, Founder and CEO of Markethive™ announces the addition of Alexander Logie as CFO, stating, “Alex is a highly qualified 30-year financial veteran who possesses a very impressive resume. He brings a combined wealth of experience, skills, knowledge and background at this all-important, crucial point in the evolution of Markethive’s culture, mission and vision, which is all about innovation, entrepreneurialism, sovereignty and success.”

Further, per Douglas Yates, Markethive’s CTO, “Alex has spent 30 years in the global financial world, including a dozen years at Citibank Canada as Senior Vice-President, Global Debt Derivative Trading. The private equity and venture capital boutique he Co-Founded (Crane Capital Group) was acquired by Bear Stearns Asset Management in 2007 and at the time, had offices in Toronto, New York, San Francisco, London, Munich and Tokyo. During the build-out at Crane Capital, Alex worked closely with several large venture capital funds in both Boston and Silicon Valley. Alex went on to become the CEO of Baron Asset Management in Hong Kong where he was licensed by the Securities and Futures Exchange (SFC). It should also be noted that Alex is also the CFO of Electric Universe Ltd, Markethive's incubator.”

Alex himself states, “I have a real passion for start-up companies that encourage, nurture and reward progressive, futuristic outside-the-box thinking and creativity, while enabling a spirit of true entrepreneurialism at their core. I presently sit on the advisory board of Bradon Technologies, an up and coming communications company that has created and deployed its own, proprietary, narrow and wideband codecs.”

https://www.zoominfo.com/p/Alexander-Logie/74047993
https://www.linkedin.com/in/alexander-logie-71975b6

For further information:

 

E. Sue Bennett
Media and Public Relations
Contact: â€‹pr@markethive.net

Thomas Prendergast

Markethive Secures Relationship with Menlo Technologies


Markethive Secures
Relationship with
Menlo Technologies


State-of-the-art Integrated Inbound Marketing Platform, Social Network, Artificial Intelligence,
Business Services, eWallet, Coin Exchange, Mining Datacenter, and Faucet Lead 
Portals for Success in the Cryptopreneurial and Entrepreneurial Markets.

Cheyenne, WY – May 12, 2018: From the desk of Douglas Yates, Markethive CTO, "We have secured a relationship with Menlo Technologies, one of the top global services companies specializing in cloud integration, data analytics, mobile and blockchain technology. Menlo Technologies has built strategic partnerships with top-tier pioneers in the tech industry including Microsoft, Dell Boomi, and Looker. Their global delivery model provides a framework that will help Markethive achieve its project milestones: Quality, on time or ahead of schedule and within or under budget."

Doug continues, "Keep an eye out for great things ahead."

Here is a video of Menlo Technologies' CEO, Gary Prioste, speaking at Microsoft Inspire Worldwide Partner Conference:

FYI: Menlo Technologies is a proud member of the Microsoft Partner Network that serves more than 430,000 businesses with more than 160 million mutual customers worldwide. Menlo Technologies has demonstrated their proven capabilities and expertise as a Microsoft Competency Partner in Cloud Development.

The Founder and CEO of Markethive, Thomas Prendergast, adds, "With creating this relationship with Menlo Technologies, Markethive gains a group of industry experts committed to our success. Menlo Technologies works with us individually, to help our business grow and succeed by integrating the latest design and technology standards."

For further information:

E. Sue Bennett
Media and Public Relations
Contact:  pr@markethive.net

 

Thomas Prendergast

Bitclub the Amazing Bitcoin mining company that’s 100% legit!

Bitclub the Amazing Bitcoin mining company that's 100% legit!

It took 4 years for BitClub Network to reach over $100,000,000 per month in sales and 300,000 customers. BITCOIN was at a low of $330 in October 2014 and, in December 2017, reached a peak of $19,500. According to many Wall Street analysts and high-level banking, will soon reach $100,000. How many will you have in the next 3 to 5 years? There are two ways to earn BITCOIN with Bitclub Network:

1) Acquire mining pools with the largest leverage in the sector. Turn $3,500 into $150,000.

2) Build a global marketing team of entrepreneurs with mining equipment and be paid daily in BITCOINS.

More than 300 people are already earning $1 million a year and referring others can earn thousands more in the coming years.


CHECK CURRENT GLOBAL BITCOIN LEGALITY HERE (Coin.Dance Site)


You can check the following links below to verify that Bitclub network is the real deal.


Recent blocks Found By BitClub Network

Hashrate Distribution Amongst the Largest Pools

Bitclub Blocks at depth 472167 in the bitcoin blockchain


Active Bitcoin Mining pool BitClub Network

Active Bitcoinity Bitcoin Network Hashrate

Active Bit.com Bitcoin Pool Distribution

Active Bitcoin Ticker Mining Pool Charts

Coin Dance Active Bitcoin Ticker Mining Pool Charts


Ethereum Top 25 Miners by Blocks

Etherchain.org Top Miners over the last 24hrs


https://themerkle.com/bitfury-and-bitclub-mining-pools-upgraded-to-new-bitcoin-core-version/

 

https://themerkle.com/top-6-bitcoin-mining-pools-signalling-segwit/

 

https://themerkle.com/top-6-companies-and-projects-supporting-both-segwit-and-bitcoin-unlimited/

 

https://themerkle.com/unknown-bitcoin-cash-miners-control-almost-97-of-the-networks-hashpower/

 

https://themerkle.com/3-largest-bitcoin-transaction-fees-ever-recorded/

 

https://themerkle.com/bitcoin-cash-mining-difficulty-adjustments-help-the-network-adjust-and-grow/

 

https://themerkle.com/bitfury-signaling-segwit-activation-brings-network-hashrate-support-to-28/

 

https://themerkle.com/bitcoin-cash-price-heads-toward-1000-as-trading-volume-outpaces-bitcoins/


https://www.ccn.com/first-8mb-bitcoin-cash-block-just-mined/

 

https://www.ccn.com/antpool-founder-shares-post-claiming-hardfork-issue-comes-money/

 

https://www.ccn.com/bitcoin-cash-price-makes-push-for-3000-as-wider-market-stumbles/

https://www.ccn.com/user-error-sees-bitcoin-mining-pool-earn-135000-fee/


https://cointelegraph.com/news/bitclub-is-accused-by-bitcoin-unlimited-suppor…

 

https://cointelegraph.com/news/durban-bitcoin-seminar-aims-at-educating-south-afri…

 

https://cointelegraph.com/news/bitcoin-mining-with-zero-fee-btccom-joins-mining-pool-race

 

https://cointelegraph.com/press-releases/saint-petersburg-will-host-a-crypto-industry…

 

https://cointelegraph.com/news/worlds-third-largest-bitcoin-mining-pool-s…

 

https://cointelegraph.com/news/blockchain-experts-mine-zcash-but-be-cautious

 

https://cointelegraph.com/news/watch-out-certain-android-mobile-devices-can-steal-your-bitcoin

 

https://cointelegraph.com/bitcoin-cash-for-beginners/how-to-mine-bitcoin-ca…

 

https://cointelegraph.com/news/malaysian-exchange-coinbit-people-are-looki…


https://www.nasdaq.com/article/the-curious-case-of-bitcoins-moby-dick-spa…

 

https://www.nasdaq.com/article/where-bitcoin-mining-pools-stand-on-segr…

 

https://www.nasdaq.com/article/russias-crypto-winter-shows-sig…

 

https://www.nasdaq.com/article/why-do-some-bitcoin-mining-pools-mine-e…


https://zycrypto.com/why-the-chain-split-might-no-longer-happen-on-august-1st/


https://www.coindesk.com/bitcoin-foundation-donation-mining-pool/

 

https://www.coindesk.com/accidental-136000-bitcoin-mining-pool/

 

https://www.coindesk.com/bitcoins-new-scaling-agreement-reaction/

 

https://media.coindesk.com/uploads/2017/08/shutterstock_240272434.jpg

 

https://www.coindesk.com/bip91-begins-bitcoins-miners-signal-segwit2x-scaling-proposal-early/

 


https://news.bitcoin.com/mining-pool-bitclub-network-mines-first-bitcoin-un…

https://news.bitcoin.com/mining-pool-bitclub-network-mines-first-bitcoin-unlimited-block/

https://news.bitcoin.com/mining-pool-btc-com-80-btc-fee-refund/

https://news.bitcoin.com/bitcoin-cash-flips-mining-profitability-which-may-entice-more-miners/

https://news.bitcoin.com/bitcoin-scaling-countdown-miners-segwit2x-software/

https://news.bitcoin.com/bither-ceo-bitclub-performing-segwit-related-attack-network/

https://news.bitcoin.com/six-months-later-bitcoin-cash-support-continues-to-grow/

https://news.bitcoin.com/bitcoin-cash-8mb-block-479469-clears-over-37000-transactions/

https://news.bitcoin.com/chandler-guo-mining-pool-jump-bitcoin-unlimited/

https://news.bitcoin.com/bitcoin-cash-mining-difficulty-drops-significantly-sp…

https://news.bitcoin.com/calvin-ayre-launching-bitcoin-cash-mining-operations/

https://news.bitcoin.com/blockchain-data-reveals-someone-is-trying-to-slow-down-bitcoin-cash/


https://bitcoinmagazine.com/articles/russias-crypto-winter-shows-signs-thaw-saint-p…

https://bitcoinmagazine.com/articles/curious-case-bitcoins-moby-dick-spam-and-mi…

https://bitcoinmagazine.com/articles/why-do-some-bitcoin-mining-pools-mine-e…

https://bitcoinmagazine.com/articles/alt-convention-conference-invites-blockchain-fintech-bitc..

https://bitcoinmagazine.com/articles/greenaddress-is-first-bitcoin-wallet-to-launch-rep..

https://bitcoinmagazine.com/articles/where-bitcoin-mining-pools-stand-on-segre…


http://www.businessinsider.com/bitcoin-pools-miners-ranked-2015-7

http://www.businessinsider.com/bitcoin-pools-miners-ranked-2016-6

http://bitcoinist.com/bitclub-network-mines-colossal-fee/

http://bitcoinist.com/bitcoin-unlimited-overtakes-segwit/


There is the dark side of Bitclub too. Accusations the owners are criminals, Accusations that Bitclub is a Ponzi, so we need to address these claims and issues.

Let’s talk about the criminal accusations. There are three owners of the Bitclub DAO (soon to incorporate as of this writing) I know two of them.

  1. Russ Medlan (I know him, shared a drink or two with him, did some development work for him and his friend Corey Citron and know his temperament, his demeanour and social behaviours from the late 90s in San Diego). He was not a criminal; he was a car salesmen type of MLMer and he partied a lot. His run in with the law occurred when he met a woman at a strip club who worked there as a stripper and started dating her. She claimed and carried a fake ID showing she was 18 years old. He got accused of statutory rape by the mother, and despite he believed she was an adult the fact was she was 17 years old. He got arrested and he plea bargained and avoided the felony charge but was classified as a sexual offender. That is it.
     
  2. Joe Frank (I have known of Joe for many years) and met him last year in his home in Southern California. I originally flew out there to pitch investing in my company, to discuss the natures of Bitcoin mining and the market of Bitcoin in general. This is when I discovered he was a founder of Bitclub (I had heard of them) and he spent the good part of the day educating me about the company, it’s visions, his part in it, our friend Russ and I came away from that meeting impressed with what they had built in a little less than 4 years at that time. Joe is a philanthropist, visionary and solid person. He is a brilliant business man and you will find nothing but positive reviews of him in his history.
     
  3. Joby Weeks (I have only heard about Joby never meeting him), surrounded with controversy and at logger heads with Bitcoin Jesus (Roger Ver), nothing new in that regards.

Joby Weeks LinkedIn Account:https://www.linkedin.com/in/jobyweeks/

Excerpts from Networking Times – July/August 2004 Edition (Volume 3, Issue 5)

A remarkable man any age, Joby Weeks at 21 speaks with the wisdom of an elder, attains goals with the tenacity of seasoned CEO, and plays life hard and fast like the youth he is.

Joby took one giant step further from the lineage when, just weeks before starting college (with textbooks purchased, a place to live and student loans applied for), Joby's mom gave him a copy of Rich Dad Poor Dad.Young Joby's entrepreneurial spirit ignited and he walked away from the education his family had expected of him.

At 18, when Joby told his grandfather that he was deferring college to try a network marketing business for a year, his grandfather was so upset, they didn't speak for three months.By the time he was 19, he had earned the distinction of being his company's youngest Presidential Director.

At an age when his friends were out partying, Joby stayed focused on achieving his first financial goal of $10,000 per month.Joby's passion for making a difference in people's lives shows up in his business, his philosophy, and his philanthropy."If you're going to live life, why not make a huge impact?You're going to put the time in any way, so why not build an asset?If I worked a job really hard ten, or 15 years, I can't even sell it when I want to quit.Why not build a business that's going to pay me for the rest of my life, and then give my kids the comfort they deserve?"

Huge success and enterprise notwithstanding, Joby still finds ample time to play.An avid snowboarder, he can be found spending as much as 50 days a year with his buddies, riding the Colorado Rockies.Recently he carried a snowboard to the summit of Mt. Elbrus in Chechnya, the tallest mountain in Europe, and cruised all the way down!

Now Joby is teaching people to do exactly what he did in his MLM company, and now, a few years later, he has utilized a system which is allowing people to do what he did in a tenth of the time.

No criminals here.

Is Bitclub a Ponzi?

What makes a Ponzi a Ponzi and what are the indications. Ponzi’s make promises of a set return on a single or series of investments. The average lifespan of an Internet Bitcoin based Ponzi is never beyond a year.

Red Flags (From SEC.GOV)

  1. Guaranteed returns (Bitclub does not publish or offer, set or guarantee returns) Bitclub makes it clear the volatile nature of the industry, the increasing difficulty of mining set against the cloud funding and continued growth of their data centers (mining facilities)
     
  2. Overly consistent returns (Bitclub returns fluctuates dynamically up and down with the market) Bitclub will suggest assessing historical returns to determine the health and potential of future returns. To understand the cyclical nature of the markets and to compare the business to other mining options before making an educated decision. And to also recognize one person’s results never guarantee another’s results.
     
  3. Unregistered investments (Bitclub does not register because it is not an investment), it is the purchase of machines (hardware you buy and own) that converts electricity into Bitcoin and distributes the product equally among the mining machine owners.
     
  4. Secretive and/or complex strategies (Bitclub is 100% transparent) with mining data centers producing their own revenue directly from mining. Small commissions are paid on new mining purchased shares, but as of today Bitclub holds over $1.5 billion in equipment with 8 data centers and the most recent one about to open in Montana. All data centers are open for tours and there are 1000s of videos of people taking those tours.

    The Bitclub datacentre pools represent as 1 of the top 10 platforms or pools in the world in Bitcoin, Bitcoin cash, Ethereum and Monero.
     

  5. Difficulty receiving payments. (Bitclub has been in business for 4+ years) never has there been any reports of not being paid or payments delayed. In fact, Bitclub has extended the mining contracts from 600 days to 1000 days and made mandatory compounding (rebuying of equipment) optional.
     
  6. Must recruit new distributors to receive payments. (Bitclub’s primary income source is from mining) Yes, Bitclub does pay a small commission on pool shares (mining equipment purchases) but the bulk of revenue comes from mining results.

Bitcoin Ponzi’s have been around for about 4 years. Onecoin (more a pyramid scheme) being the most notorious, not even being a real crypto coin has been running from country to country like a Whac-A-Mole game. Begun in 2016 it has been able to survive from country to country leaving a trail of financial wreckage, government arrests and violations charged against Onecoin and owner Ruja Ignatova. One can easily confirm this being a highly illegal and corrupt operation from the 1000s of negative testimonies and accusations of people who have lost everything, and a list of 100s of countries declaring Onecoin illegal, a criminal operation with many arrests made.

Read more here: https://en.wikipedia.org/wiki/OneCoin

 

The vast majority of these Bitcoin Investment Scams (also known as Bitcoin Lending Programs) never last beyond a year. Like Gladiacoin, Ecoinplus, Jetcoin (Forbes Article), Laser.Online , Bitconnect (Lasted a whole year) and the granddaddy of Bitcoin fraudster Ponzi USI Tech, which has drawn the attention of all the news reporting blogs.

THE MERKLE
USI Tech Withdrawal Issues Leave Cryptocurrency Users Worried

https://themerkle.com/usi-tech-withdrawal-issues-leave-cryptocurrency-users-worried/

Is USI Tech Another Bitcoin MLM Scam?
https://themerkle.com/is-usi-tech-another-bitcoin-mlm-scam/

CCN
Bitcoin Ponzi Scheme Promises Return to North America

https://www.ccn.com/bitcoin-ponzi-scheme-promises-return-north-america/

Scam-Free: Binance CEO Officially Receives Twitter Verification
https://www.ccn.com/binance-ceo-officially-receives-twitter-verification/

COINTELEGRAPH
Texas Regulator Inspects 32 Crypto Promoters, Warns Of ‘Widespread Fraud’

https://cointelegraph.com/news/texas-regulator-inspects-32-crypto-promoters-warns-of-widespread-fraud

COINDESK
Texas Slaps Bitcoin Investment Firm With Cease-and-Desist

https://www.coindesk.com/texas-slaps-bitcoin-investment-firm-cease-desist/

Texas Takes Aim at Overseas ICO with Cease-and-Desist
https://www.coindesk.com/texas-takes-aim-at-overseas-ico-with-cease-and-desist/

BITCOIN.COM NEWS
USI Tech Ordered Not to Mess with Texas

https://news.bitcoin.com/bitconnect-slapped-with-securities-emergency-cease-and-desist-order/

USI Tech and Bitconnect Slapped with Securities Emergency Cease and Desist Order
https://news.bitcoin.com/bitconnect-slapped-with-securities-emergency-cease-and-desist-order/

BTCMANAGER
Texas State Securities Board Investigation Uncovers 32 Illegal Cryptocurrency Schemes

https://btcmanager.com/texas-state-securities-board-investigation-uncovers-32-illegal-cryptocurrency-schemes/

The PONZI Bitcoin lending is alive and thriving. This is the growing list of new Ponzi scams daily.
https://icoreview.site/


Bitclub has also been accused of being a Ponzi scam.

Spurious sites like BehindMLM , Steemit and Kipicommunity with claims like:

KIPICOMMUNITY.ORG
Bitclub Network Ponzi Scheme – Don’t Fall For It. (2016)

http://kipicommunity.org/bitclub-network-review/

The arguments against Bitclub are old (2016) weak and all of the claims have proven to be false as time has marched on 2 years later.

STEEMIT
Criminals behind Bitclub-Network Investment Scam

https://steemit.com/scam/@steeme/criminals-behind-bitclub-network-investment-scam

There is no factual accusations in this article and again it is over 2 years old. If you read it, make sure to read all the comments as well. Use your own best judgment.

BEHINDMLM
BitClub Network abandon US, on the run from regulators?

http://behindmlm.com/companies/bitclub-network/bitclub-network-abandon-us-on-the-run-from-regulators/

ETHAN VANDERBUILT
BitClub Network Scam? Yes It Is In My Opinion!

https://ethanvanderbuilt.com/2018/03/22/bitclub-network-scam-yes-opinion/

99BITCOINS
[Investment Warning] Bitclub Network Review and Analysis

https://99bitcoins.com/anatomy-bitcoin-scam-bitclub-network-analyzed/

All of these critical sites make claims from assumed opinions, fake news, false facts and old information. Do your own research with the facts I have presented here.

In my opinion, Bitclub is not a typical MLM and should be considered a crowd-funded mining operation with a solid ROI for just investing in the Mining offer. One does not need to recruit to make a good profit. The “optional” compounding for greater mining shares has the potential of returning a .05 Bitcoin earning per month to 3 times that in 1000 days to .15 Bitcoins per month into perpetuity when one options to continue the compounding.

By 2020 the vast majority of pundits agree that Bitcoin will be trading for more than $150,000 per coin and with a monthly projected return of .15 per month the expected income would be significant.

Bitclub is a legitimate business model and not a typical Hope and Dreams scheme like most MLM offers.

Written and published by
Thomas Prendergas
t

 

 

 

Thomas Prendergast

Fear and HODLing at MIT: Blockchain Experts Weigh Impact of SEC Action

Regulation: It's good for you,

but it's going to hurt. That seemed to be the main takeaway for the cryptocurrency industry from Monday's Business of Blockchain conference at the Massachusetts Institute of Technology (MIT). On the one hand, the event was clouded by speculation that the U.S. Securities and Exchange Commission (SEC) may go as far as to classify two of the top three coins by market cap, ethereum and Ripple's XRP, as securities. Such a determination could subject a wide swath of industry members to legal penalties – far beyond the promoters of recent initial coin offerings (ICOs) who were already on alert the last few months. Those fears were reinforced late in the day when Gary Gensler, an old lion of financial services regulation, confirmed for the crowd that in his view, bitcoin's two largest rivals may fit the description of securities in U.S. law.

"Ripple Labs sure seems like a common enterprise, or the Ethereum Foundation in 2014," said Gensler, a former chairman of the Commodity Futures Trading Commission. "Ripple is doing a lot to advance the value of XRP." (The so-called Howey test says something is a security under U.S. law if it is an investment in a "common enterprise" offering an expectation of profits from the efforts of others.) Yet, on the other hand, the general sentiment at the event was optimistic about regulators' growing involvement in the space.

Neha Narula, director of the Digital Currency Initiative at MIT Media Lab, for example, told CoinDesk insufficient regulation can actually stifle innovation by deterring honest players because rampant scammers undermine market integrity. And aligning with Gensler, Narula said, there need to be more honest conversations about the fact that many emerging cryptocurrencies are actually securities. However, there may not be a bright line separating the two.

As Narula said:  

"We're realizing money versus equity isn't a binary choice. It's a spectrum."

Coming pain

And that realization could have a serious impact on the cryptocurrency industry. Patrick Murck, counsel at Cooley LLP and fellow at Harvard's Berkman Klein Center for Internet & Society, told CoinDesk the token economy could be on the verge of a dramatic shift if the SEC agrees with Gensler. If ether and XRP are deemed securities, cryptocurrency exchanges and general industry promoters or foundations, or anyone who sold or evangelized projects like ethereum to the general public, could be subject to legal penalties.

"It would be like shooting fish in a barrel," Murck said, adding:

"There's nothing magical about the blockchain that absolves you from investor protection regulations if investors have to trust you to deliver something."

Driving that point home, Gensler in his talk cited several reasons that the way ethereum and XRP were issued and traded seemed to meet the definition of securities.

For example, the 2014 ethereum crowdsale would have created an expectation of profit for the people who purchased tokens before the network went live. "The Ethereum Foundation offering had a 50 percent appreciation right in the first 42 days written into the offering," Gensler said on stage. (The industry think tank Coin Center in Washington, D.C. promptly issued a statement that "ether is not a security," rebutting Gensler's argument.)

Meanwhile, for issuers of new tokens, it's almost impossible to walk the line, even with more feedback from regulators and lawyers. For example, so-called airdrops, once viewed as a way to avoid breaking securities laws by simply sending free tokens to people who already have some type of cryptocurrency wallet, are instead creating a damned-if-you-do, damned-if-you-don't situation.

If issuers fail to collect information about recipients of airdrops, they may inadvertently violate international sanctions (what if that wallet belongs to someone in Iran?). On the other hand, if they do collect such information, the airdrop may start to look like an investment in regulators' eyes, according to Murck. "The SEC has interpreted the first prong of the Howey Test broadly," Murck told CoinDesk. "The collection of information may be enough to fit the first prong" – pegging an airdrop as "an investment of money."

Long-term gain?

Even so, Murck joined others at the conference in welcoming regulators' participation in the space. "They're becoming a part of our blockchain community and that's a valuable thing," Murck said. Part of the value is clearing up uncertainty. The shortage of such clarity was illustrated during a talk by Kathleen Breitman, a co-founder of the Tezos project.

When asked whether securities regulations apply to her project's tokens, Tezzies, she responded:

"I don't know. I don't mean to play coy, I'm not just an attorney…I would recommend token holders comply with relevant laws."

But Gensler said legal clarity is slowly emerging in this red-hot market. "If you do an issuance now, in April 2018, do it under U.S. securities laws," said Gensler, who is now a senior lecturer at the MIT Sloan School of Management, "It's better to bring it into a public policy framework, even if there's a little bit of a chill." And perhaps some cooling off would be healthy. MIT's Narula said she is deeply concerned about the lack of due diligence completed for many, if not most, cryptocurrency projects. Just because the code is open source doesn't mean that knowledgeable people have evaluated it.  

"A lot of investors don't know that. They go by signaling," Narula said. "A lot of projects have had some pretty fundamental flaws that were exposed only after a project launched." If nothing else, the excited chatter in the halls of MIT suggested that regulatory encroachment has yet to put a damper on the energy being channeled into blockchain tech.

Amber Baldet, the former JPMorgan Chase blockchain expert, said what makes her optimistic about the space, writ large, isn't skyrocketing coin prices or even regulatory clarity on the horizon. It's the explosive growth of this community in the wake of the 2017 boom. "In order to have an internet of value, people are going to have to interact with each other," Baldet said, speaking to the need for an ecosystem that includes everyone from enterprises like her former employer to accredited investors to retail investors.

She concluded:

"You meet thousands of people tackling these challenges in unique ways."

Authored by

Leigh Cuen

Leigh Cuen is a tech reporter covering blockchain technology for publications such as Newsweek Japan, International Business Times and Racked. Her work has also been published by Teen Vogue, Al Jazeera English, The Jerusalem Post, Mic, and Salon. Leigh does not hold value in any digital currency projects or startups. Her small cryptocurrency holdings are worth less than a pair of leather boots.

Original Site
https://www.coindesk.com/fear-hodling-mit-blockchain-experts-weigh-impact-sec-crackdown/

Thomas Prendergast

Cryptocurrency Market Approaching $400 Billion as Bitcoin Tests $9,000

Cryptocurrency Market Approaching $400 Billion as Bitcoin Tests $9,000

 

 cryptocurrency market extended its bullish rally on Sunday,

as bitcoin and the major altcoins continued to test multi-month highs. Buy orders accounted for the overwhelming majority of transactions, giving rise to expectations of a more sustained upswing in prices.

Cryptocurrency Rally Continues

The combined value of all cryptocurrencies peaked at $397.2 billion on Sunday, the highest since Mar. 8. At press time, the market was valued just below $394 billion. Transaction volumes ebbed on Sunday, with daily turnover amounting to $20.8 billion. Volumes were up around $25 billion on Saturday. In terms of individual currencies, bitcoin crossed the $9,000 mark for the second time in as many days. The digital currency was last seen trading at $8,932, having gained 4.8%. However, its share of the total market decline to around 38%.

All major altcoins contributed positively to the rally, with Ethereum gaining nearly 5% to $632. The value of Ripple XRP rose 2.6% to $0.886. Bitcoin cash also extended its bullish rally, climbing nearly 7% to $1,226. Since bottoming at $249 billion on Apr. 6, the cryptocurrency market has added nearly $150 billion in value. Since the market crash of early February, coins have crossed the $500 billion mark on only one occasion, and that was roughly two weeks later. The total market has been capped below $400 billion since early March.

Bulls in Firm Control

The dramatic recovery in cryptocurrency prices can be summed up in one vital statistic: nine out of every ten trades have been buy orders. That figure was as high as 92.9% on Thursday, according to TurtleBTC. Cryptocurrency trading is largely governed by investor sentiment, especially among speculators entering the market for a quick profit. This environment, when combined with thin volumes, often generates sporadic trading conditions that are characterized by extreme volatility.

Sentiment has been overwhelmingly positive over the last two weeks as investors looked to capitalize on extreme oversold conditions. Traders have seemingly shrugged off negative news headlines concerning India’s crackdown on cryptocurrency trading as well as the state of New York’s inquiry into exchanges. There’s strong reason to believe that South Korean traders are playing a major role in the price recovery. According to the most recent volume rankings, three South Korean exchanges are among the top-five in total trading volumes.  They are: OKEx ($1.8 billion in daily volume), Upbit ($965 million) and Bithumb ($751 million).

With the recent spike in volume, cryptocurrencies are once again trading at a large premium in South Korea. This is generally the norm during bull cycles due to high demand and supply constraints. These premiums drew negative attention to exchanges last year as government officials began equating cryptocurrency trading with gambling. Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Authored by Sam Bourgi


Sam Bourgi is Chief Editor to Hacked.com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world's foremost newscasts.

Original URL: https://hacked.com/cryptocurrency-market-approaching-400-billion-as-bitcoin-tests-9000/

 

Thomas Prendergast

Third Co-Founder Of Centra Tech Charged With $25 Mln Securities Fraud

Third Co-Founder Of Centra Tech Charged With $25 Mln Securities Fraud

The third co-founder of crypto financial services

startup Centra Tech Raymond Trapani has been arrested yesterday, April 20, and charged with securities and wire fraud of more than $25 mln associated with the company’s Initial Coin Offering (ICO), according to the US Department of Justice’s (DOJ) press release April 20. The two other co-founders, Sohrab Sharma and Robert Farkas, were arrested and charged of the same offenses earlier in April. Sharma, Farkas, and the now also arrested Raymond Trapani advertised the “Centra Card,” a debit card that was reportedly backed by Visa and Mastercard, which allowed users to convert crypto into fiat currencies.

The US Securities and Exchange Commission (SEC) reports that no partnership actually existed between Centra and the two credit card companies. According to the DOJ’s press release, after the founder of an unrelated allegedly fraudulent ICO was arrested last fall, Sharma asked Trapani and Farkas to remove all false information, “fufu,” about Centra’s deal with Visa from their website: “I rather cut any fufu . . . Now . . . Then worry . . . Anything that doesn’t exist current . . . We need to remove.”

New York Times writer Nathaniel Popper tweeted an excerpt of the SEC’s complaint against Trapani, referring to the problems the Centra Tech founders ran into by using random people’s photographs as their “team members” online. One solution to the issue of needing to remove the photos when people complained was to invent a fake car accident to kill the fake CEO and his fake wife:

In the DOJ’s press release, Deputy U.S. Attorney Robert Khuzami said,

“As alleged, Raymond Trapani conspired with his co-defendants to lure investors with false claims about their product and about relationships they had with credible financial institutions.  While investing in virtual currencies is legal, lying to deceive investors is not.”

Centra Tech had been promoted by celebrities like boxer Floyd Mayweather and DJ Khaled. Last fall, the SEC had warned the public that celebrity endorsements of ICOs could be illegal if they don’t reveal the compensation they receive for their advertising.

Authored by
Molly Jane Zuckerman

Molly Jane Zuckerman@MollyJZuckerman
reporter
@cointelegraph

Original URL
https://cointelegraph.com/news/third-co-founder-of-centra-tech-charged-with-25-mln-securities-fraud

Molly Jane is a Russian Literature major from California with a background in writing. She joins Cointelegraph after working as a freelance journalist and blogger.

Thomas Prendergast

WikiLeaks Shop Reports Suspension Of Coinbase Account Due To Terms Of Service Violation

WikiLeaks Shop Reports Suspension Of Coinbase Account Due To Terms Of Service Violation

 

 

WikiLeaks Shop, the merchandise arm of international

anonymous publishing non profit WikiLeaks, reported on Twitter Friday, April 20, that their account with crypto wallet and exchange Coinbase has been blocked. WikiLeaks Shop’s tweet contains a screen grab from an alleged email from Coinbase that states the organization violated their Terms of Service and therefore “can no longer [receive] access to [their] service.” Coinbase has not responded to a requests for comments on the specifics of WikiLeaks Shop’s violation by press time.

All proceeds of the shop go to WikiLeaks operations, and customers can pay in Bitcoin, Litecoin, Bitcoin Cash, Dash, Dogecoin, Ethereum, Neo, Namecoin, Vertcoin, Monero and ZCash through Coinpayments.net. The official WikiLeaks Twitter posted a call for a “global blockade” of Coinbase in response to the block: Bitcoin (BTC) advocate Andreas M. Antonopoulos tweeted that Coinbase has “repeated history,” as Bitcoin has played an important role for WikiLeaks from the time when the non profit was legally unable to use traditional banking systems:

Last fall, WikiLeaks leader Julian Assange publicly thanked the US government on Twitter for forcing the organization to rely on Bitcoin due to the banking embargo, giving WikiLeaks a 50,000 percent return. Assange also urged WikiLeaks donors to use cryptocurrencies for their donations as a way to avoid this financial blockade. The WikiLeaks website accepts Bitcoin, Litecoin, Monero, and ZCash for donations.

Antonopoulos added in a comment to his tweet that this embargo by Coinbase is unlike the first in that it is “purely symbolic,” as there are other crypto wallets out there, but that the “symbolism is a pretty poignant reminder of what centralization and banking regulations mean.”

Author
Molly Jane Zuckerman

Molly Jane Zuckerman@MollyJZuckerman
reporter
@cointelegraph

Original URL
https://cointelegraph.com/news/wikileaks-shop-reports-suspension-of-coinbase-account-due-to-terms-of-service-violation

Molly Jane is a Russian Literature major from California with a background in writing. She joins Cointelegraph after working as a freelance journalist and blogger.

Thomas Prendergast

IMF’s Lagarde Counters Crypto Warnings With New Praise Of ‘Potential Benefits’

IMF’s Lagarde Counters Crypto Warnings With New Praise Of ‘Potential Benefits’

 

 

The head of the International Monetary Fund (IMF) Christine Lagarde

was buoyant about cryptocurrency in a blog post in support of the technology, published Monday, April 16. The post, which comes roughly one month after Lagarde cautioned against the “dark side” of cryptocurrency, sees the IMF leader focus on what she describes as the “potential benefits” of “crypto-assets such as Bitcoin.” “A judicious look at crypto-assets should lead us to neither crypto-condemnation nor crypto-euphoria,” she writes. While continuing her narrative about the need to reign in illicit activity involving crypto, which she had voiced during January’s World Economic Forum 2018 and since, Lagarde nonetheless reiterates the need for an “even-handed approach”

going forward:

“Understanding the risks that crypto-assets may pose to financial stability is vital if we are to distinguish between real threats and needless fears. That is why we need an even-handed regulatory agenda, one that protects against risks without discouraging innovation.”

She continued, “A clear-eyed approach can help us harness the gains and avoid the pitfalls of the new crypto-assets landscape.” Lagarde’s call for a balanced outlook on cryptocurrency comes at a time of increasing regulatory involvement in the industry, while traditional financiers continue to call Bitcoin a ‘bubble’ and pundits spy the start of a market surge.

Author – William Suberg
Original URL
https://cointelegraph.com/news/imfs-lagarde-counters-crypto-warnings-with-new-praise-of-potential-benefits

William Suberg got into Bitcoin while completing his Masters degree and hasn't looked back since, writing about anything crypto-related which makes him sit up and pay attention. He started working with Cointelegraph in October 2013.

Thomas Prendergast

The Craigslist of Crypto Is Making Millions Where Bitcoin Is Needed Most

$27 million.

That's how much revenue LocalBitcoins is now generating annually off a business that started back in 2011, all with an investment of just a few thousand dollars. One of the longest-running and most controversial bitcoin companiess, the decidedly low-fi website now has roughly 20 employees worldwide and 4 million registered accounts.

And reflecting the global tide, 40 percent of those users have signed up in the last six months. All that is according to Nikolaus Kangas, the CEO of the company, who started the venture with his brother Jeremias at a time when there weren't many options outside meeting up face-to-face to trade bitcoin. But the online portal continues to thrive even as the landscape of polished VC-backed exchanges (and even bleeding-edge decentralized alternatives) matures.

Sure, the peer-to-peer marketplace accounts for only a sliver of worldwide bitcoin trading – last week, it handled $62 million in trades, according to Coin.Dance estimates. This may be less than a top-20 exchange does in a day, but the service is gaining traction in markets that are generally overlooked by mainstream providers. "We are the most global platform out there," Kangas said. "Our goal is to improve the global trade possibilities, to serve people who have limited access to financial services." And, it turns out, even though LocalBitcoins tends to be more expensive (since sellers set their own prices), the company is much needed.

Indeed, Coin.Dance shows that Venezuelan transactions spiked to a new all-time high this month, as did usage in Tanzania and Peru – all countries that are struggling to recover from banking industry slumps. During the peak week of April 14, LocalBitcoins' trading volume in these three nations combined was worth roughly $55 million – more than six times the value of U.S. trading on LocalBitcoins in the same week.

And when the Bank of Montreal restricted customers from making cryptocurrency purchases, LocalBitcoins activity in Canada spiked. It's these instances that make LocalBitcoins so valuable, even in an environment where growing awareness of institutional traders and their high-value swaps (average transactions on LocalBitcoins are just $450) are stealing the limelight.

And that's paid off. The peer-to-peer exchange, which charges a 1 percent transaction fee, took in more than €22 million (roughly $27.2 million) of revenues in 2017, more than triple the amount from 2016, according to Kangas. Despite the market dip since December, when bitcoin's price peaked at $19,783, he said trading volume has continued to grow.

Nikolaus told CoinDesk:

"If you compare us to those big altcoin exchanges that were making $100 million per day or something like that last fall, we are kind of a small player. But I think we are solving a basic problem of how to buy or sell bitcoin for fiat currency."

Not always easy

And that basic problem was even more apparent in 2011 when the brothers first started in on the idea. Nikolas, a Finnish programmer, was fascinated by bitcoin – a new stateless currency meant to take power away from the banks, and maybe even governments. But every website he went to that provided services for Finnish buyers was awful in that they were hard to use. The Kangas brothers wanted to change that.

So having saved up a year's worth of living expenses and with a few thousand dollars to spend on server fees, the brothers launched LocalBitcoins. Yet, the journey for LocalBitcoins hasn't always been easy. The company has tested several products over the years, including a merchant billing service in 2014, but none of those gained traction like its bread and butter – P2P exchange.

On top of that, LocalBitcoins was the platform in the middle of more than half a dozen criminal cases associated with LocalBitcoins traders. For instance, last year, the U.S. Department of Justice sentenced a father-son duo of LocalBitcoins users, Michael and Randall Lord, to several years in prison for operating an unlicensed money transmission business. And Reddit is full of testimonies about scammers and hackers exploiting inexperienced LocalBitcoins' users. Nikolaus said the team is very concerned about criminal activity on the site and cooperates with authorities to investigate any crimes that use the platform.

Yet, just like Craigslist horror stories haven't stopped people from using the internet marketplace, instances like these connected to LocalBitcoins haven't slowed the platform's usage. In fact, the $27.2 million in revenue LocalBitcoins took in last year was more than triple its profits from 2016. Even with bitcoin's recent price dip (after December highs close to $20,000 a coin), Nikolaus said trading volume continues to grow.

Compliance for a non-bank

That said, Nikolaus remains steadfast in its interest in staying on the right side of the law. "We want to follow all the current regulations and laws, but right now it is quite unclear," he said. What is clear, though, is that at least in the U.S. the company has to report certain transactions as suspicious. This includes transactions over $10,000 and any transactions set up obviously to circumvent that limit.

Everything else – complying with local regulations – is up to the buyer and seller. In this way, LocalBitcoins has set itself up to be only a technology provider and not a complicit party to any unlawful actions users of its technology might participate in. This outsourcing of compliance responsibility is one of the reasons the company has been able to stay afloat, even in the face of competition from well-funded startups.

Because LocalBitcoins facilitates generally trades of smaller amounts, they rarely attract scrutiny. For instance, when the Investor Protection Bureau of the New York Attorney General's Office sent an inquiry letter this month to more than a dozen cryptocurrency exchanges, including Coinbase, Kraken, and Gemini – exchanges that function more like banks — P2P platforms like LocalBitcoins were notably absent from the dragnet.

It seems it helps to be local.

For example, Iranian blockchain researcher Ziya Sadr in Tehran routinely uses LocalBitcoins to sell cryptocurrency. Since sanctions keep Iranian banking customers from accessing foreign markets, he told CoinDesk, Iranian traders use LocalBitcoins to find local sellers who accept wire transfers from Iranian banks.

As mentioned before, it's these kinds of markets, which are cut off from the rest of the world, that need P2P crypto exchanges like LocalBitcoins. Roman Snitko, CTO of a new P2P exchange called Hodl Hodl, noticed a similar trend on his platform. Russians, who lack centralized exchange options, were some of the first users to flock to Hodl Hodl.

Speaking to this need, then, Snitko told CoinDesk:

"In countries without centralized exchanges, I think P2P trading will play a significant role."

Original URL
Written by – Leigh Cuenleigh@coindesk.com

Leigh Cuen is a tech reporter covering blockchain technology for publications such as Newsweek Japan, International Business Times and Racked. Her work has also been published by Teen Vogue, Al Jazeera English, The Jerusalem Post, Mic, and Salon. Leigh does not hold value in any digital currency projects or startups. Her small cryptocurrency holdings are worth less than a pair of leather boots.

Thomas Prendergast

Company Aims To Become ‘Amazon Of Sharing Economy’ With Blockchain App

Company Aims To Become ‘Amazon Of Sharing Economy’ With Blockchain App

A company is building a Blockchain-based system

to eliminate fragmentation in the sharing economy – and creating a single app that gives users access to “any available asset they wish to rent, borrow or share.” ShareRing claims the current market is extremely inconvenient for consumers. Although thousands of companies exist, many of them are specialized in one particular niche, such as caravans or office space. This forces users to go through the arduous process of registering multiple accounts – and, given the fact that some of these small businesses only operate in a heavily localized area, there’s no guarantee that the items they need to borrow will be available where they live.

The Australian company has the goal of becoming the “Amazon of the sharing economy,” enabling users to lease “assets” from a broad range of categories through a single smartphone app. They would be connected to individuals nearby who have items they are willing to share, while rental companies would be able to develop their own “mini” app within ShareRing to reach greater numbers of prospective customers. ShareRing is already exploring deals with big brands, and the latest partnerships will be announced on its website.

In its white paper, the company lists areas where its technology could prove useful. Some examples include renting cars, trucks and trailers, as well as booking delivery drivers, sharing gardens, swapping books, co-housing, car sharing and social dining. ShareRing’s Blockchain platform, known as ShareLedger, is already in development. “Highly customizable” smart contracts will be used to complete transactions, with the company stressing that typical users are not going to require advanced technical knowledge in order to use the platform.

“Taking things to the next level”

The team behind ShareRing already have experience in this industry after starting the vehicle-sharing brand Keaz in the middle of 2013. Offering solutions for both corporate users and consumers, the company now has offices in five countries – and its main technology, KeazACCESS, was launched in May 2015. Executives say they have “decided to take things to the next level” through Blockchain because a company is yet to help this industry achieve its full potential. Their white paper argues that most people are even unable to name five businesses operating within the sharing economy – and the two examples most commonly used as answers, Airbnb and Uber, only cover two types of assets available to the public.

ShareLedger is also going to feature a dual token mechanism. Whereas SharePay is the currency that customers will use to rent assets, ShareToken allows providers to pay for access to the Blockchain. All users will be able to access their balances for these tokens in a lightweight wallet accessible from PCs and smartphones. “Small transaction fees” are charged to providers who use ShareRing. There are one-off charges whenever individuals or businesses add an asset to the platform. Providers are also charged if “attributes” need to be added, allowing extra bits of information such as a Vehicle Identification Number to be linked to the asset. Finally, they will pay a fee every time their asset is rented out to a ShareRing user.

Growing the ecosystem

At the heart of ShareRing’s system will be a “clever, integrated app” which uses geolocation to show users which services are available nearby – and within two years, the company hopes that up to 1 mln assets will be available to share around the world. Its Blockchain system will be publicly available by Sept. 2018, and KeazACCESS will be the first “client” integrated into ShareLedger. ShareRing’s token sharing event is set to take place in May, with the company planning to run token hunts and several other competitions to spread the word and raise awareness of the project.

Chuck Reynolds


Marketing Dept
Contributor

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Thomas Prendergast