Roger Ver: ‘investors should be prepared for the loss of popularity of bitcoin

In an interview with CNBC, the head of the Bitcoin.com Roger Ver said that bitcoin miners can switch your power on the Bitcoin mining Cash, if this fork will be popular enough.

So it makes sense to hold assets on the stock exchanges. Then, in the case of the Exodus of traders from the market bitcoin, you can withdraw BTC or to exchange them for other cryptocurrencies.

«Because if you are stuck on your phone or computer, and all rush to the exit… too late to transfer bitcoins from wallet to the exchange. In the end, you will get nothing instead of something», he said.

Earlier Ver has always advised investors not to store their bitcoins at exchanges because they can be hacked. Now, however, he changed his position.

According to a report Morgan Stanley published earlier this week, hackers have stolen from kryptomere more than $630 million in bitcoins.

Ver was one of the first to invest in bitcoins and got in cryptosuite the nickname «Bitcoin Jesus.» But now he is a supporter of Bitcoin Cash, as it believes this fork faster, more reliable and cheaper than the original version.

Recall that on this week’s auction BCH has launched America’s leading cryptocurrency platform Coinbase, though not quite successfully. In the near future BCH will support a payment processor BitPay. And last week, Roger Ver announced the release of card Visa Bitcoin Cash.

At the time of writing the average rate Bitcoin Cash was $3733,60. During the day, the price of bitcoin has grown by 11.19%. In this case only two days ago, BCH was trading at $2400-2500 per unit.

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Tim Draper called bitcoin the most safe place to invest money

Venture capitalist and founder of Draper Fisher Jurvetson Tim Draper believes bitcoin «is the safest place to invest money.» He said this live on CNBC.

«Now there is a major revolution that will allow you to get the best currency is more secure, more decentralized, more effective and useful. Global. Open to all… [Bitcoin] is a much better currency than Fitna,» said Draper.

Despite the optimism of the supporters of the cryptocurrency, many skeptics still prefer the government issued Fiat currency and traditional banking infrastructure. Draper thinks this is stupid:

«Right now your banks all the time under attack. Hackers «dig» holes in your banks and go beyond your money. The bankers fought back, trying to repel the onslaught, but their all-time crack. No one was able to hack the blockchain of bitcoin. This is the safest place to invest your money.»

Although these statements may seem overly optimistic, Draper offers a look at the state of the paper currencies in countries with crumbling economies:

«If you are in Argentina, Venezuela or Nigeria, you know that your currency falls 30% per year, because these countries tend to explode almost every year. And people are losing their condition. But if a part of that invested in bitcoin, you won’t lose it».

Summing up, Draper said that bitcoin is not a «fashionable trend», and «the future world»:

«It will be a major change in the world’s future. This is a major breakthrough… This is a great opportunity for people to manage their own businesses free from political whims».

Recall that, according to Draper, by 2022 the price of bitcoin will reach $250 thousand, and after five years, we will pay mostly cryptocurrencies.

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Financial controller Gibraltar issued a statement on the ICO

The financial services Commission of Gibraltar (GFSC) issued a statement on initial placement of the coins, which warned investors about the risks of funding the ICO. GFSC noted increase in the use of tokens based on the technology of distributed registry (DLT) as a means of raising capital, especially in the early stages.

In January, the statement said, in Gibraltar, will begin operating a new regulatory framework for the DLT, which will regulate companies that use this technology for storage and transmission of values, including the exchange of cryptocurrencies.

“Gibraltar aims to be a reliable and safe place to do business and is considering additional regulatory framework covering the promotion and sale of tokens built on the platform of DLT,” said GFSC.

The Commission called ICO unregulated way of financing, which are often used by startups to circumvent the strict and regulated process of raising capital. Such enterprises regulator called highly speculative and very risky.

Those who are considering investing in ICO, GFSC warned about the possible risks and gave recommendations to pay attention to problems of regulation and full disclosure. The controller recalled that the tokens are distinguished by a strong volatility. To assess the prospects and risks of funding the ICO can only be an experienced investor, says GFSC.

We will remind, earlier about the risks of funding the ICO warned the regulators of the USA, UK, Dubai and Russia. China’s government this month introduced a ban on such funding model.

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Fake wallet MyEtherWallet removed from the App Store

Fake crypto MyEtherWallet, which at a price of $4.99 for a week among the three leaders in the category “Finance” in the App Store, was removed from this site. During this time it managed to download about 3 thousand people.

Recall that the application drew the attention of another Twitter user, who asked the developers of the present MyEtherWallet to comment on the situation. Therefore, the team learned about the problem and contacted Apple. This is not the first case when the fake app is gaining immense popularity. So, in October from the Google Play store users actively downloaded a fake app crypto currency exchange Poloniex, which at that time there was no official Android client.

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The bill of bitcoin in Ukraine requires, but does not guarantee

On the website of the Verkhovna Rada published the draft law on bitcoin in Ukraine. In General, it describes what is cryptocurrency, the blockchain, miners and mining, cryptocurrency transactions and exchanges, etc., and also put forward a number of requirements for those who are going in any way to use the cryptocurrency. ICO in the bill not mentioned.

What is cryptocurrency and who she is allowed

In the main the wording of the bill under the cryptocurrency refers to “program code, which is the object of property rights, which can be a medium of exchange, details of which are entered and stored in the blockchain as the accounting units of the current blockchain data (program code)”.

The owner of the cryptocurrency are considered to be “any natural person, natural person-entrepreneur or legal entity which legally owns and retains cryptocurrency”.

Guarantees and requirements of the state

According to the text of the bill, the national Bank of Ukraine undertakes the state management in the sphere of cryptocurrency, but has no obligation and shall not reimburse the cost in case of depreciation or loss of cryptocurrency for any reason.

In addition, the authors of the document believe that the state should not guarantee and will not take any action to ensure that the activities of online services for the exchange of cryptocurrencies. On the subject of the crypto operations is responsible for self-protection of cryptocurrency and the integrity of the blockchain.

The operations of the exchange of cryptocurrency and mining are subject to the payment of taxes as a “regulated by the current legislation of Ukraine”.

The right of ownership

The subject of crypto-currency transactions can freely dispose of cryptocurrency, using the General norms on the right to private property: to carry out operations to exchange one cryptocurrency to another, be exchanged for electronic money, currency values, securities, goods and services.

However, the document particularly emphasizes the prohibition to use cryptocurrencies against the fundamentals of national security of Ukraine for calls to overthrow the constitutional order, violation of territorial integrity of the country, the Commission of terrorist acts, financing of terrorism and legalization of proceeds of crime, the spread of drugs and psychotropic substances, their analogues or precursors. Also banned from other illegal actions with cryptocurrencies.

Mining

The document gives the official definition of a miner. Is a natural person, natural person-entrepreneur or legal entity that on his and/or rented equipment provides the performance and security of the blockchain, cryptocurrency transactions and receives remuneration system and/or receives the right of ownership for money.

For all that got the miner, he must pay the tax.

Cryptocurrency transaction is the relevant model provisions about the contract of barter in the definition of the legislation of Ukraine. All the data about them, including information about crypto, recipient, amount of transfer, the timestamp of the translation are stored in the blockchain and are open to all subjects of cryptocurrency transactions.

Persons who held a crypto operation needs 5 years to store information about them.

Cryptocurrency exchanges

Activities cryptocurrency exchanges in Ukraine to be resolved. Only they, according to the authors of the bill, can use online translation service to exchange cryptocurrency for cash, financial assets and securities. In this case it will be assumed that the subject of cryptocurrency transactions is at your own risk.

NBU needs to describe the order in which the crypto currency exchange created and run, as well as monitor all transactions identificeret and personifiziert subjects of cryptocurrency transactions.

The creation and description of these processes, the NBU will have 2 months from the date of publication of the adopted law. During this period, the NBU and the Cabinet will also need to harmonize normative-legal acts.

The entire income of kryptomere taxed.

Responsibility

In General, the appeal of the cryptocurrency is proposed to adjust the document, as well as the Constitution, Civil, commercial, Tax codes, the law on information, normative legal acts of the NBU and other laws.

For violation of that law is civil, administrative or criminal liability.

Recall that the authors of the bill were deputies from the party “people’s front” Irina Efremova, Lyudmila Denisov, Igor Kotvitsky, Svetlana wojciechowska and John Rybak from the faction “Block of Petro Poroshenko”.

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Scammers try to trick people through fake account to Charlie Lee on Twitter

Scammers made a fake Twitter account of the Creator of Litecoin Charlie Lee (Charlie Lee) and ask users to send 0,3 LTC address they have provided below in the report they could get 3 LTC out of 180 tokens, which allegedly allocated If cryptologist.

We will remind that earlier a similar scheme scammers tried to exercise with a fake account Buterin Vitalik and Ethereum. Charlie Lee sold all my Litecoin back in December, because I didn’t want to be further accused of price fluctuations in the cryptocurrency.

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British Telecom has received a patent for a method of cyber defence blockchain

The largest Internet service provider and telecommunications service provider in the UK received a patent for cyber security measures to protect the blockchain, CoinDesk reports.

In the resulting British Telecommunications PLC (BT) the patent describes a method of preventing malicious attacks on the blockchain by limiting opportunities to complete transactions using user profiles. The underlying code of the blockchain will be able to automatically reject transactions that do not meet pre-specified accounts.

“Despite the architecture of the blockchain systems, malicious attacks pose a threat to the safety and reliability of the blockchain,” reads the patent.

As an example, it describes prevention “majority attack” when the hostile side, having more than 50% of the compute power in the network can try to gain control over bloccano. According to the patent, finding attack, the system will automatically stop the transaction.

In the patent referred to common DDoS attacks that are used to block the miners by the excessive number of queries. However, it is not considered whether the proposed method of protection is effective against them.

Lately companies and organizations around the world are actively exploring blockchain technology. The results of these efforts is an increasing number of patents in this area. Among the owners are listed as Xerox, Telefónica, UnionPay, Sony, Bank of America, Nasdaq Technology AB, Accenture, and many others.

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Huobi reguliruemoe Group has launched a cryptocurrency exchange in Japan

The financial service provider Huobi Group announced the restart of its Japanese unit as a fully regulated cryptocurrency exchange. Users trading bitcoin and other assets.

The restart took place with the participation of the exchange BitTrade, which previously closed its trading platform, announced the restart in the composition Huobi Group. A new exchange was licensed by the financial services Agency of Japan (FSA) and operates so fully in the legal field.

«This important achievement. First, it is very important for us the Japanese market, and secondly, cooperation with regulators has long been a priority for Huobi Group. We are proud to Huobi Group now has one of the first 17 licenses issued by the FSA [cryptocurrency exchange]», said founder and Group CEO of Huobi Leon Li.

Currently the exchange supports trading bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), XRP and Monacoin (MONA).

We will remind, last week the financial services Agency of Japan (FSA) confirmed the results of the exchange Coincheck license to resume. It happened a year after the exchange has been broken into, which was stolen more than half a billion dollars.


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Bitcoin has managed to rise above $3 900 for some time

The start of the weekend in the cryptocurrency market were marked by a moderate rise of bitcoin. At the time of publication it was trading at $3 750, which fell after reaching a peak at $3 950 – a value seen on the exchange Kraken. In other markets, observed a similar phenomenon, although less pronounced.

Other cryptocurrencies have followed bitcoin and has risen to 2-4%.

As previously rightly pointed out by analysts, in recent months bitcoin has been trading between $3 550 $4 200.

«Since mid-November, we say that the current range lies between $3 000 and $5 000. Looks like now bitcoin has opened a new mini-range between $3 550 $4 200,» said a senior analyst at eToro’s Mati Greenspan.

Another analyst Luke Martin in his Twitter wrote that bitcoin can rise above $3 700 and stay there for a long time that will open up new opportunities for a breakthrough to the $4 100.

«I am more than pleased with the continued positive momentum,» – he wrote.

18 Jan portal MarketWatch quoted a senior instructor at the Cboe stock exchange Kevin Devitt who expects seeking to profit traders won’t allow market to remain within narrow limits, and predicts the volatility.

«Volatility is growing, and it scares most passive investors. However, many market participants understand that volatility accompanies market. If the volume is Cboe are anything to go by, then these traders are stocking up instruments to trade on volatility and/or to manage risks», – he wrote.



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Christopher Giancarlo: CFTC lags behind in exploring blockchain technology for 4 years

The head of the Commission on trade commodity futures (CFTC) and Christopher Giancarlo (Christopher Giancarlo), speaking at the house Committee on agriculture, said that his Agency lagged far behind the realities in the understanding of the blockchain technology.

For example, he said, the CFTC cannot manage Noda consortium of banks that use this technology and provided to the financial regulator such as the dissemination of information can be considered a gift, and the Commission has no right to take it. That is, the CFTC at the legislative level is allowed to require information about the use of technology only through the appropriate summons and after the launch of the blockchain.

Also, the CFTC limited the purchase or lease of the current node, as this would require a revision of the law on the expenditure of Agency funds at the level of Congress.

“We are lagging behind. While the Bank of England just two days ago announced the introduction of Velikobritanii new interbank payment system compatible with bloccano… the Bank of England was 4 years… to participate in all beta tests of the blockchain that we can’t afford it, they studied the technology and now introducing…

I feel that we are off by 4 years, because we need to test technology to better perform the work of the regulator and before I come to the Congress to inform you that we need funds for the creation of something,” said Giancarlo.

In addition, the head of fingerplate noted that its ability to supervise the cryptocurrency at the moment is also too narrow because it is limited to commodity futures, issues of fraud and manipulation. In his view, the CFTC should approach the cryptocurrency market is closer, but watching him with caution, not to harm and to give him “a little to develop before introducing regulation.”

Recall that a week ago, the head of FINTECH initiatives the CFTC Gorfain Daniel (Daniel Gorfine) also warned U.S. lawmakers of what he called “hasty regulatory statements”. He noted that many things can be considered goods, but not all of them deserve the attention of U.S. regulators.

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