Analyst, Weiss Ratings: soon will come the best time to buy bitcoin

In the near future bitcoin is waiting for correction, after which it will demonstrate steady growth. Sure the main cryptocurrency analyst at rating Agency Weiss Ratings Juan Villaverde.

He is convinced that the time of the coming correction is the best time to buy bitcoin. According to him, the last time such a chance was in 2015. Then the first course of bitcoin has dropped to $300, and then in December 2017 has the absolute maximum.

«Historically, the first pullback after the start of the bullish phase is one of the best times to return to the cryptocurrency market,» said Villaverde.

As evidence, the analyst also gives a correction of prices of bitcoin in 2012. Then, the first cryptocurrency increased to $7 after reaching a «bottom», but then fell to $4.

«It was only a preparation for the beginning of a bear market, when bitcoin for the first time in history reached the four digit mark of $1,200 by December 2013.»

Analyst at Weiss Ratings also noted the significant improvement in fundamental factors. In particular, Villaverde indicates the growth of onchan transactions and volume of trading on the trading platforms and low commissions in the network of bitcoin.

Thus the last statement of the analyst is rather controversial, since recently, the average transaction fees on the network first cryptocurrency reached a 14-month high. According at the time of writing the Commission for the inclusion of the transaction in the next block more than $4.

Recall, this is not the first time in the Weiss Ratings state that calculated the best time to buy bitcoin. So, analysts talked about this back in December of last year.


250 employees exchange Kraken has been paid for April in bitcoins

Cryptocurrency exchange Kraken in the last month gave 250 employees salary in bitcoin. This information platform announced in response to the statement of financial expert Peter Schiff, claiming that people will never agree to get paid in cryptocurrency.

«And another employee, who in 2012 chose to take all due to him the amount of bitcoin, quit his job in 2013», — added the exchange.

In the state of Kraken, presumably, the number of 800 people. Based on these data, the salary in bitcoin prefers one-third of employees.

Nevertheless, the representatives did not explain how this practice fits into the existing labor legislation of the United States, which requires that payments to employees are conducted at least partially Fiat money, or checks.

We will remind, earlier this week, Kraken announced the beginning of public placement of their shares on the platform Bank To The Future.


Network Monero can be implemented in a new algorithm consensus

In the network centric for increased privacy in cryptocurrency Monero can be implemented in a new PoW algorithm consensus called RandomX from the developer of the decentralized Internet Arweave. It all depends on the results of the audit of a new Protocol, reports Cointelegraph.

At the moment, the Monero developers carry out hardforce every six months to avoid capture network ASIC miners, however, this approach community consider controversial.

So, Arweave and the Monero team is likely to spend up to $150 thousand for audit RandomX, which will be held within two months.

It is noteworthy that RandomX may require the miners to allocate up to 2 GB of RAM, which will significantly complicate a hidden mining.

Recall the last hardwork network Monero was held in March of this year.


Anatoly Aksakov: a Proposal to regulate the cryptocurrency in accordance with the FATF ready

The state Duma has finalized proposals for the regulation of the cryptocurrency industry, based on the requirements of the Group of development of financial measures of struggle against money-laundering (FATF). Writes about this TASS with reference to the statement of the head of the Duma Committee on financial market Anatoly Aksakov.

Earlier this week, Aksakov reported that the adoption of the law on digital of financial assets in Russia «podvisli» in connection with the charges of the FATF requirements.

«Recent meeting of the FATF, which has offered to settle the issue with cryptocurrencies, so we slowed down and has now drafted proposals,» — said Aksakov this Friday.

The participants in the crypto industry at the international level have expressed its rejection of the FATF developed currently, the control measures, assuming that the performance of their official companies will be impossible and lead to the flourishing of the shadow economy. The FATF, in turn, promised to listen to all opinions, but the willingness to soften its stance on demonstrated.

What requirements can be made to Russian legislation in accordance with the requirements of FATF, the media did not specify.


Crypto-faundeyshen: why the most promising blackany evolve through funds?


Often promising blockchains as a legal structure are NGOs in the form of funds. Because they are able to ensure harmonious development of the cryptocurrency business, as well as to promote the formation of a favorable attitude on the part of all stakeholders. Among the blockchain projects developing as faundeyshen, already established platforms such as Ethereum, zcash for, Stellar, Cardano and Minter, among others. What is the role of funds in the implementation of missions blockchain projects and what are the advantages of this approach when choosing the legal fate of cryptocurrency business understands DeCenter.

Ethereum Foundation

Ethereum Foundation — perhaps one of the most well-known in the stock market funds, which invest millions of dollars in the development of its ecosystem and its community. The Foundation aims at coordinating the work of 106 groups, which hold meetings, conduct the social network, as well as lay out the technical changes to the blockchain on GitHub.

Based in the Swiss town of Zug Ethereum Foundation was founded by Vitalik Baleriny in June 2014 to Fund, promote and support the Ethereum platform to promote decentralized protocols, applications, and tools of the new generation, as well as to build a more accessible, more free and causing a greater trust in the Internet — Web 3.0.

To achieve these goals, from July to August 2014 the project team held a public online krausel internal token Value Token Ethereum (ether), accepting payments with bitcoins. 42 days of krautsalat was obtained in the order of 31,000 bitcoins worth more than $18.4 million at the then exchange rate. On the funds collected, the team was able to pay off accumulated debts, and in may 2015 to run Olympic — private testnet the Ethereum blockchain, allowing developers to identify potential bugs of the platform before the official launch of the network. In July of the same year, the release of Frontier: first official version of the Ethereum blockchain.

As they Mature the project and changed the structure of the Fund. So, in June 2015, has assembled a new Board of Directors of the Ethereum Foundation, which included four key project participant — Buterin, Wayne Hennessy-Barrett, Lars, Klawitter and Vadim Levitin. The Fund’s Executive Director was appointed Ming Chan.

By September 2015, the Foundation budget remained 200,000 Swiss francs, 1800 2.7 million bitcoins and esters (not counting the 490,000 Swiss francs was deferred to the costs of legal protection). Monthly costs Ethereum Foundation at a cost of approximately 400,000 euros, which would allow the Fund to stay afloat to a maximum of December of the following year.

However, with the development of the platform, more developers and companies started to offer their solutions, and thus the Fund has ceased to be the sole source of the new elements of the Ethereum ecosystem. Moreover, under the leadership of Ming Ethereum Foundation reduced administrative costs and consolidated the work funded by the legal entities engaged in the development of Ethereum. Thus, by January 2016, the monthly expenditure of the Fund was reduced to 175,000 euros.

Ming held the post of Executive Director for 2.5 years and at the end of January 2018 announced his retirement. Under her leadership, the Ethereum Foundation successfully conducted network upgrades. Homestead and Byzantium several DevCon conferences, and launched a series of grants aimed at creating solutions to scaling of the second level. Also, participants of the Fund are dozens of new crypto companies, researchers and developers. In place of the Ming was appointed Aya, Megumi, who was appointed as the managing Director of the Japanese unit of Kraken crypto currency exchange.

As noted, Muguti during the launch of the Fund, its founders actually were the ones who took the major decisions on the development of the project. This circumstance became the reason of criticism from not only cryptologist, but the key players of the Ethereum ecosystem. For example, core developer of Ethereum lane Rettig called the system management a form of technocracy:

Management of Ethereum fails. We de facto technocracy, where a small group of technocrats — core-developers — has the last word regarding what is included in the Protocol and what is not.

According to experts, at this stage, the key challenges faced by the Ethereum team, have nothing to do with technical issues. At the same time, the core developers do not want to be responsible for making decisions, because I feel that not qualified enough for this, fear of legal liability, do not want to participate in conflict resolution and in General just prefer to write code.

Similar opinion is shared by head of the Fund, which during a recent interview with Coindesk said that from now on the role of the Ethereum Foundation is not to work on the price fluctuations of air or changes in the market blockchain infrastructure and to communicate and advance the growing global community of developers. In the opinion of Meguti, is a key advantage Fund — Ethereum Foundation has already established itself as a brand you can trust, so the organization can provide open and reliable channels of communication with kriptosmartfon.

10 December 2018 during a speech at the conference DevCon4, Miyaguchi said that during the year the Foundation allocated more than $20 million in grants for the projects 70 organizations and private developers involved in the development of the Ethereum ecosystem. Among the largest beneficiaries of grants last year were such crypto-companies like L4 Research ($1.5 million), StarkWare ($4 million), Kestrel Institute ($400,000), Prototypal ($375,000) and Finality Labs ($250,000), among others. And in early 2019, blockchain-Technologies startup Parity received from the Ethereum Foundation grant in the amount of $5 million.

The head of the Fund stressed that the process of allocating grants is decentralized to the maximum member of the crypto community Ethereum identify missing elements in the whole ecosystem, they help the Fund to find projects that will contribute to the development and launch of such items. Moreover, the grants program allows the Foundation to easily find and work with contractors, but also to seek potential partners for collaborations.

Zcash For Foundation

Zcash for Foundation is a non — profit organization responsible for the development of private payment infrastructure for the Internet, as well as serving users of the cryptocurrency zcash for, its Protocol and blockchain network. This organization was founded by a crypto-entrepreneur Zuko Wilcox in March 2017, who now heads a private company Zerocoin Electric Coin Company. It is noteworthy that these two organizations — zcash for Foundation and Zerocoin Electric Coin Company — responsible for maintaining and further development of the project. At launch, members of the Board of Directors of the zcash for Foundation was appointed:

Andrew Miller — senior lecturer of the faculty of electrical and computer engineering, University of Illinois;

Peter van Valkenburg — Director of research for Coin Center;

Matthew green, a senior lecturer of the faculty of Informatics of Johns Hopkins University and one of the authors of the original white paper Zerocash;

Nawal Raincat — founder and CEO of AngelList, one of the investors zcash for.

As noted by Wilcox in his open letter to cryptologist, in the long term that is an independent non-profit organization in a Fund should assume responsibility for the development of the technology, and its key feature should be transparency in management and decision-making.

Three key areas that entered the area of responsibility of the zcash for Foundation:

 The growth and development of the community zcash for. Support members of the community of cryptocurrency is one of the main priorities of the Fund. Like other cryptocurrency NGOs, zcash for Foundation funded meetings and conferences of developers, miners and members of the crypto community that facilitates the sharing of knowledge and, most importantly, values associated with the development of private online payment. Moreover, the governance structure of the Fund is transparent and the Board members bear full responsibility for implementation of solutions that supported the community.

 The Protocol and management. Development and support of zcash for open Protocol and the blockchain of the network are important aspects of Internet infrastructure aimed at protecting the privacy of users. Therefore these issues should be handled cryptologist, consisting of both experts and crypto-enthusiasts, and the tools that protect financial privacy should be available to anyone. For this reason, the zcash for mission Foundation is not just in the support and development of cryptocurrency zcash for, but in the responsible leadership in these necessary updates as hardforce to increase the level of security. In the sphere of influence zcash for Foundation also includes the updating of the Protocol through softforce.

 Research and development. According to members of the Board of zcash for Foundation, technical solutions can best be maintained through a strict validation on empirical indicators and do not stop the process of innovation and improvements. These areas are included in the third area of responsibility of the Fund and the zcash for the community, as well as funding and support research.

Zcash for Foundation receives funding through fixed rate of 1.44% of all ever remaining coins zcash for. This rate is subtracted from the 10% of so-called «rewards the founders of the» policy project, in which for the first 4 years a tenth of all the money supply will be distributed between founders, investors, employees, consultants and Fund. So, investors who funded the establishment of the zcash for, in total, will receive 1.65%, the founders, staff and advisers — 5.72%. Another 1.19% will go to «the Strategic reserve of the company zcash for», and the remaining 1.44% is a non — profit organization zcash for Foundation. Moreover, Zuko Wilcox promised to send half of its share of the remuneration of the founders of the Fund, explaining that in the long term, the project needs an independent, uniting, non-profit organization that will develop the project in the interests of the crypto community.

It should be noted that in addition to providing partial funding Wilcox is not involved in the management of the Fund. Moreover, the founder of the project called zcash for Foundation members «to use the granted freedom» and to register your own trademark, hire an expert in software development, as well as alternative and independent ways of funding.

Supporting the key principles of decentralization, the members of the Board zcash for Foundation, a separate Committee, which made decisions regarding the allocation of grants to developers who build solutions based on the Protocol zcash for. It is noteworthy that the members of the Commission were not only zcash for ecosystem participants, but also representatives of competing projects (Monero). Thus, the composition of the Commission includes:

Eran Tromer (Zcash For)

Dmitris, Apostolou (zcash for community)

Gibson Ashpool (

Brandon Buzzed (Monero Research lab)

Alicia Naumov (Blockchain Institute)

Alexander Chepurnoy (project IOHK)

A good example of how the Fund makes decisions, became last year the question of raising the stability Protocol for cryptocurrency ASIC miners new generation. So, in may of 2018, the Fund announced its intention to explore ways of protecting cryptocurrency from mining zcash for devices on the basis of the algorithm Equihash, in particular from Antminer Z9 mini production company Bitmain. The problem of high-performance Usikov is their ability to accumulate a large number of coins in a short period of time, which poses a potential threat of attack 51%. For decision regarding whether zcash for Foundation to focus on combating asik-miners, members of the Fund was carried out by the public voting at the conference Zcon0. The majority of participants voted against, 45 of 19.

Minter Development Foundation

Minter Development Foundation (MDF) is a non — profit Foundation crypto-startup Minter, whose purpose is to provide users around the globe a platform to issue their own cryptocurrencies with absolute and immediate liquidity.

Blockchain Minter runs on the engine Tendermint (the technology behind Cosmos Network) and uses the algorithm of consensus Delegated Proof-of-Stake (DPoS), and for daily micropayments, users have the bitcoin BIP. Creating a block in the blockchain Minter takes 5 seconds, and each block can store up to 10,000 transactions. Moreover, in October of last year it became known that the project will be integrated with bloccano TON. The partnership will allow network users Minter to transfer your coins from blockchain to blockchain Minter TON, to store data on the blockchain TON, exchange BIP for GRAM, the use of smart contracts the network TON, to send and receive micropayments in coins on the basis of the Minter through TON Payments.

Users Minter divided into three groups:

Delegatory: holders of BIP, which can transfer coins in steak validators;

Validators: masternode network, confirming transactions and creating new blocks;

Joinery: creators of their own cryptocurrency.

The size of the issue of native coins network Minter is 10 billion, most of which will be distributed during airdrop for first time users. One of the distinguishing characteristics of this project is the fact that each new coin network Minter secured by a pool of BIP, and BIP can only get validators network. Such reserves, which are placed in smart contracts based on the mathematical formulas that form the maximum fair market price at any point in time thereby solving the problem of setting prices. Each of the new coins will have the absolute and immediate liquidity, because users Minter have the opportunity to buy, sell and exchange coins without the need for the exchange. The distribution of BIP:

1% of the total emissions leaving the users in the course of airdrop;

1% will be provided to the pioneers — mineral, validators and delegators — through of the Campaign early access;

98% will be mined by PoS-validators as remuneration for the units.

As for MDF, it was in the state of Delaware Fund is a key player in the development of Minter. So, the main objectives of the MDF are:

The development of the ecosystem Minter due to the issuance of the trust grants to developers and organizers of education and research projects;

Preparation of companies to the new format of the «Internet of money» through the sponsorship of educational and research projects in the field of digital Economics and Finance;

Financial and information support for new projects that integrate into the ecosystem Minter;

Administration layer payment ecosystem by establishing common rules of conduct for all participants in the system, the development of standardized contracts and remedies.

The deeper purpose of the MDF in the end is to build trust of the network participants to each other in the part, which cannot be secure by technical means. On the one hand, this will occur due to the introduction of universal and understandable «rules of the game» on the other — through the encouragement of scientific and educational activities aimed at raising the General level of cooperation in society.

In MDF, there are no shareholders and the organization receives no revenue from operations. Instead, the Foundation will be funded by a fixed rate of 10%, deducted from the remuneration per block, and also through commissions. Network throttling is assumed through a special Council, whose members will be selected by the principal validators of a network in accordance with the size of their steak. So, delegatory will choose validators, giving your coins for steak, and the validators will vote for the Council members.

After you start the core network Minter, scheduled for may 15 this year, the project team will begin the process of transferring intellectual property rights to MDF. MDF will be the rightholder in respect of the sites, applications, and other technical developments infrastructure Minter.

Stellar Development Foundation

The Fund’s Stellar Development Foundation (SDF), as well as svty is not a joint NGO and is responsible for Protocol development and support of crypto-currency financial platform Stellar. Project Stellar was founded in 2014 by jed Machalaba and Joyce Kim as an offshoot of the Ripple network, therefore initially the project was launched on the Ripple Protocol. However, a year later the team has developed its own Protocol Stellar Consensus Protocol that uses its own native cryptocurrency lumen (XLM).

Fund SDF was established in July 2014 in San Francisco with the aim to promote affordable financial services for members of the crypto community worldwide, as well as to provide developers with the technology, based on which they can run their own financial products and services.

Key areas of responsibility include SDF:

Development and support of Protocol and network Stellar

Develop open source tools and services network Stellar

The leadership and management of the ecosystem Stellar

Promotion Stellar mass adoption as the international payment standard

Distribution native cryptocurrency network — XLM and the increase in its turnover

Creating and maintaining technical and non-technical partnerships and educational initiatives to improve financial literacy among members of the crypto community worldwide

Currently the management team consists of the SDF Keith Rabois, Shivani Siroya and Greg Brockman, and jed McCaleb listed as a co-founder of the Fund. Each of them is a life member of the Fund, provided that they can perform their duties. Otherwise, the member of the management team of SDF to propose a candidate for replacement and leave the Fund. The members of the SDF team are not included in the Board of Directors of the Fund, which are two different structures within the NPO.

In the area of responsibility of the Board of Directors of the SDF include:

The development of the project according to the mission and goals of the SDF

Choice Foundation Executive Director

The provision of appropriate financing channels

Respect for moral integrity SDF

Supervision and management of the Fund

The members of the Board of Directors of the SDF are re-elected annually. However, neither the members of the management team nor the Board of Directors do not receive monetary compensation for their work in the SDF. With regard to the Executive Director of the SDF, on March 14 of this year on this post was appointed Denelle Dixon, who previously was COO at Mozilla.

Updated Stellar network that uses its own Protocol, began work in November 2015, issued a 100 billion tokens XLM. SDF is responsible for the distribution of 95% of them are in the proportion:

50% of the issued XLM distributed in the framework of direct registration — all users that create accounts in the network Stellar, are automatically phase-out the distribution of coins;

25% XLM granted to Affiliate members — institutions, enterprises, organizations and other partners, contributing to the growth of ecosystems Stellar;

20% of tokens sent by the participant of Bitcoin-programs — for holders of bitcoin and ripple (the program was completed in two rounds: in October 2016 and August 2017, respectively);

5% XLM remain in the Fund to Finance activities of the organization.

As for financing, unlike many other platforms, Stellar does not receive revenue from commissions for transactions in the network. Therefore, in addition to 5% of all coins XLM, the financing of the project comes from charitable contributions of companies and individuals, and the contributions of the participants SDF. In 2014, the SDF has also received a loan of $3 million from the company Stripe which was subsequently repaid by the XLM. It is noteworthy that the founders of the Fund and Stripe agreed to keep the tokens received XLM for five years. When this Stripe has the right to sell their tokens, but if a new token holders agree not to sell within five years, and the profits will be directed back to the Fund.

Cardano Foundation

The project Cardano was launched in 2015 by a group of investors and entrepreneurs at the head of which was Charles Hoskinson one of the first developers of Ethereum. On the idea of the founders, the project should become self-reliant decentralized cryptocurrency economy on the basis of the blockchain, smart contracts and their own cryptocurrency. In this connection, a group of researchers for several years was engaged in the analysis of existing cryptocurrencies and blockchains to build a secure blockchain-a platform which will give users a new cryptocurrency and the ability to use numerous smart contracts. Tiered PoS network Cardano with the same internal Protocol and cryptocurrency ADA was launched on 29 September 2017.

Today the project Cardano composed of three companies, each responsible for a separate range of duties:

Cardano Foundation Supervisory and educational NGOs, whose mission is to standardize, protect and promote technologies Cardano.

IOHK — engineering and technology a world class company responsible for the construction and maintenance of the blockchain Cardano until 2020, the head of which is Charles Hoskinson.

Emurgo — a company engaged in the development of business applications created on the ecosystem Cardano.

As noted by the founders of the project, regardless of how successful was krausel, any project in need of an independent Fund, which will be responsible for the development and promotion of the project. In this regard, in 2016 they founded NGOs Cardano Foundation, which is registered in the Swiss town of Zug. Our major goals set by the Foundation:

Mass adaptation Cardano

The legal framework and commercial standards

The development and growth of the global community Cardano

Ensuring accountability of stakeholders

Search and development of partnerships

The Fund is financed by a gradually decreasing inflation and transaction fees in the network Cardano. With regard to grants, that any user Cardano has the right to request money from the Fund, and the stakeholders vote for whom to allocate the available funds. Thus the project organizers start a dialogue on what initiatives should support community Cardano, after all the discussion about the distribution of the Fund provide insight into short-term and long-term goals.

At the same time, in managing the Fund over the past year, there is a fairly complicated situation. So, in October 2018 Charles Hoskinson heads IOHK, published an open appeal to the community Cardano, in which he described his disappointment in the Fund’s work, in particular, its Chairman, Michael Parsons, who «have monopolized power». Of the key issues in the activities of the Foundation, Hoskinson Cardano highlighted the lack of strategy on the part of the Board of Directors, the lack of transparency in the activities of the Fund, as well as financial opacity. The opinion of Hoskinson divided and Ken Kodama, chief Executive officer Emurgo. Nevertheless, none of the leaders had no authority to remove the Chairman of the Board Cardano Foundation.

Instead, in October 2018 community Cardano was launched the petition, which called for Parsons to resign voluntarily. The petition was signed by 6096. In the result, on November 13 last year, the Fund announced the resignation of Michael Parsons, and in his place was appointed Pascal Schmid is a member of the Board of the Fund. Today the team Cardano Foundation also includes:

Nathan Kaiser — Consul General of IOHK

Manmeet Singh — Consul and investment officer EMURGO

Domino Burki — Consul and managing partner Du Lac Capital Ltd

Tom Kelly marketing Specialist

Maki Mukai — Specialist in content marketing

E. G. Kim — marketing Specialist and community Cardano

Steve Wagendorp — Head of technical operations

Juliet Adelfang — Project Manager

Tillman, Guo — Legal Counsel

Amanda rush — Office Manager


As a European crypto-scammers earn on startups from the CIS


To the editor DeCenter got the information about cases of fraud in the sphere of crypto-investment. Several blockchain startups from the CIS were the victims of speculators from Switzerland and Italy. Below outlines the unusual theft of bitcoins.

The Effect Of The First. Investment of one million euros

In December 2017 the founder of the project Lescoin Ivan Gridin chat project wrote a user under the nickname @Blausteiner (to our messages the user did not answer. — DeCenter). He introduced himself as the agent of a major investor from Switzerland who wants to anonymously invest in the project — Lescoin just passed the ICO.

The investor wanted to transfer the money in person in Europe. It was one of the main conditions, as it had planned to invest the cash. «For many large investors, the participation in ICO is a method of tax optimization, therefore, the proposal initially didn’t strike me as criminal. That we were driven to Milan where I was to get easier than in Switzerland,» says Gridin.

Act II. Meeting at the hotel

On arrival startups organized a welcome dinner. According to Gridin, at the first meeting in the restaurant of Swiss investors has put forward a proposal: €500 thousand in exchange for tokens Lescoin and €500 thousand in bitcoin. In the future interlocutors promised even more impressive amount.

«I was concerned that along with the tokens and investors wanted to obtain bitcoins, because our team is not engaged in exchanging cryptocurrencies. In the end, we agreed to sell tokens in the amount of €300 thousand and mediation in buying bitcoins — I checked with a friend from Moscow who was able to sell enough bitcoins. He also booked a ticket to Milan, but did not get on the flight and attended the meeting remotely,» says Ivan.

Read more about investors said Dmitry farrier, and founder of Denmark Gold Coin, which faced them previously. The first meeting of team representatives with investors took place over dinner at the Excelsior Hotel Gallia (Piazza Duca d’aosta, 9, 20124 Milano MI).

Potential investors introduced himself as Mr. Butson (left) and Mr. Binotto (pictured right). «Botcon offered us a loan from Arab Bank, if we sell Binotto bitcoins for €200 thousand,» — said the farrier. Dmitry took a break in a couple of days to think about it, and eventually the desire to maintain the project took precedence over fears.

Meeting at the hotel Excelsior Hotel Gallia

Act III. The transfer of money

«The second time we met with Binotto and his partner Stefan at the hotel Welcome Plus Milano (Viale Famagosta, 50, 20142 Milano MI). The room we checked and counted the bills, Packed them in a briefcase, and went downstairs. Near the hotel was a Bank and a pharmacy where we have paid money in the case», — says Dmitry. After that, the team translated the investors bitcoins, but the transaction been waiting for confirmation because of the load on the network.

3 hours of the day Stefan went to another meeting, and Dmitry and Binotto are left to wait for the operation to complete. In the evening Binotto suggested to have dinner together. After dinner in the Osteria (La risacca 2 Viale Regina Giovanna 14, 20129 Milano), Binotto said he knows how to protect yourself from fraud. It is suggested to go to the hotel Michelangelo (Piazza Luigi di Savoia, 6, 20124 Milano), rent a room there for 2 days, and keep the money in the safe at reception. Binotto said that the safe can be opened only with two keys, one of which is administrator and the second from the owner of the hotel rooms. Startups have agreed to these terms because the transaction is still not confirmed.

According to Gridin, in his case, pseudo-investors acted in a similar scheme. Only money transferred to a different hotel: Crowne Plaza Milan City (Via Melchiorre Gioia 73, Milan, Milano, 20124).

«After checking the money investors George and Michael asked me to leave a Deposit on account of future transactions exchange euros for bitcoins. As my partner is from Moscow at that time still not made a translation, to me this request seemed fair. And we also put money in the hotel safe,» explains Ivan.

The climax. The disappearance of investment

The next morning, Gridin found in the safe Deposit box is not the Euro, and the printed souvenir notes. The entrepreneur believes that the staff was in cahoots with the scammers, because otherwise substitute the money was impossible. Lost and notes that speculators have paid off with the team Denmark Gold Coin, but its founder Dmitry farrier does not believe that the hoteliers directly involved in the scheme.

«It Binotto has shifted our «securities» in the hotel safe. My friend covered the entrance to the room safe as Binotto shifted money. As he himself said later by phone: “At this point I switched the money.” We have a recording of that conversation,» says butcher.


«We decided to bring the story, because with this fraudulent scheme now face a ICO projects, although not all are willing to admit fell for the trick of the scammers, explains Gridin. — Our team was lucky to partner with a key from the purse project was not able to fly from Moscow, I had to warn him, when he noticed the substitution of money. However, we lost 1 bitcoin on the security Deposit and spend for the trip, which is also noticeable for a start. Other projects have lost more money due to these scams and I don’t know how to report to investors. My advice is not to lose your head over crazy money and stay honest with the people that have supported your work.»

Such a scheme was confirmed by the representatives of another blockchain startups from the CIS. Interviewees were asked to maintain their anonymity, since the loss of the project was more tangible: the team gave scams bitcoins worth over €200 thousand and is now forced to close the project. In turn, Dmitry farrier and Ivan Gridin going to continue working, despite financial problems.


Why crypto currency exchange is not your Bank?


Leaving cryptocurrency assets on the stock exchanges on which you constantly do not sell, you do so at your own risk. The crypto currency exchange is not your Bank, which by default is interested in the safety of your assets and maximize the operational warning you of any danger. So she won’t have to spend huge amount of their own resources, as does the Bank.

You will not be called on the crypto currency exchange and notify about suspicious activity in your account. It is logical, because the very concept of cryptocurrency suggests that if someone got into your account, it could be only you. And if not, the entire responsibility for the consequences rests solely on you.

The vast majority of crypto-exchange no the reputation of completely safe sites. There are a few exceptions to the rule, including — Coinbase Pro and multiple platforms, consider themselves invincible. But this approach is absolutely not true because, despite the fact that the exchange was not yet hacked, thousands of private accounts came under attack. If you use hot or cold wallets, it is in any case safer storage directly on the exchange.

The most large-scale hacks

In 2014, the exchange Mt.Gox was one of the most popular bitcoin exchange. We can say that at the time of the exchange owned approximately 70% of the market. But in February 2014 there was an unprecedented break-in transactions for a total amount of $473 million.

Then, a few weeks after such a large-scale hacker attack, the company was declared insolvent. As a result, since the exchange was one of the fundamental factors that shape the cost of bitcoin, by March, its exchange rate fell by 36%. At the moment Mt.Gox still missing 650,000 bitcoins.

«Despite the fact that the investigation is continuing and not all the facts clarified, it is assumed that the majority of bitcoins stolen from the exchange, was withdrawn from its hot wallets, including all the currency stored in cold wallets, due to «leakage» in the hot wallet,» commented then Andrew norrie, Explorer Blockonomi.

Another major theft took place on the stock exchange Bitfinex. In August 2016 hacked in Hong Kong purse with multiple signatures gave hackers the ability to remove 120,000 of bitcoins from the site.

The fact that even in 2015 for security reasons Bitfinex chose to provide wallets with multiple signatures for its customers. However, this played against them, because of this loophole, the hackers took advantage — they were able to confirm the illegal transaction of bitcoin with the help of signatures that have been split between multiple accounts.

After this incident, Bitfinex went out literally with a black mark, but two years later seriously recovered. The exchange issued its own coin BFX for users with stolen saving and slowly buying them back. Even Bitfinex has accelerated the withdrawal and became an example of how the exchanger can return the location of users.

Recently, 20 June 2018, one of the largest exchanges in South Korea, Bithumb, was the victim of hacking in the amount of $30 million.


As a consequence, the fall of the world’s first cryptocurrency does not have to wait long — the price of bitcoin fell by 5%. It is noteworthy that since the exchange keeps the money on the hot wallet of the company and on the cold, if not for their quick actions in evacuating a large amount of funds, the damage could be much more serious.

Why use crypto wallets?

Thus, keeping your crypto-assets on the stock exchange, you trust its management. In many ways, the safety of your savings depends on the professionalism, promptness and honesty of the owners of the exchange. Therefore, it is preferable to use hot and cold wallets.

Their use much easier than it seems. Hot wallet, of course, is a little less safe, rather than cold, since the latter is not connected to the Internet. Nevertheless, hot wallets have several advantages:

Easy to buy;

There is easy access and understanding, compared to offline wallets.

There are several options when it comes to hot wallet. Installation instructions will help you configure your private key and will also save your QR code and will provide it with 2FA. To access it you only have to enter your credentials private key from the web sites, mobile web sites or apps associated with a purse. You can also search the entire transaction history, check payments or to enter information for sending transactions.

As for the option of a cold wallet, he also has a number of advantages:

It is compatible with any USB device;

Cold wallets are almost not hacked, since the codes are entirely offline.

Take care of your crypto-assets, and do not keep them on exchanges!


More than a thousand users have downloaded from Google Play fake purse stealing cryptocurrency

Analysts at ESET detected the fake Google Play app best wallet Mobile Wallet disguised as a popular purse.

The search results shows this app is the second from the official wallet. As a developer it appears the company best wallet Inc.

«We have never encountered malicious activity under the guise of best wallet of these fake applications are of particular interest. After all, the best wallet — cryptocurrency wallet hardware type, which requires physical access, authentication by PIN-code and knowledge of the seed phrase to recover access to your wallet», says security expert ESET Lucas Stefanko.

In the study, ESET came to the conclusion that the savings users best wallet in no danger due to multi-factor security system. However, the fake application is associated with another program-a fake, the purpose of which is to steal the cryptocurrency.

After installing and running best wallet fake program POPs up a window to enter account information. Then they are sent to the server of malefactors, located at This website contains a link to download the app Coin Wallet.

The program allows you to create wallets for the 13 different cryptocurrencies, but all victims receive the same addresses that belong to crooks.

From 7 February to 5 may 2019, when the Coin Wallet was available in Google Play, it downloaded more than 1000 times.

«Use of the cryptocurrency and other financial applications only if they are connected with the official website of the service. You must enter your confidential data in online form only if you are confident in their safety and legality», — the experts ESET.

Analysts also did not rule out that the number of such applications may increase significantly if bitcoin will continue to rise in price.

We will remind, in February in Google Play has been discovered, the malware, disguised themselves as purse MetaMask, which was replaced by the addresses of wallets that are copied to the clipboard, to the addresses of the hackers.


Coinbase has added support stablon DAI

The largest American cryptocurrency company Coinbase announced the addition of stable coins DAI on its platform and mobile application on iOS and Android.

According to the statement Coinbase, the company will be able to buy, sell, convert, trade, sell, and store DAI.

A new opportunity is available to all customers except residents of the state of new York. Apparently, the company is waiting for approval of the authorities, as local regulators, well-known for its rather rigid approach to kriptonyte.

Note that DAI is positioned as the first decentralized stablon on the Ethereum blockchain. Unlike other «stable coins», DAI supported software on the platform MakerDAO, which in theory should stabilize its exchange rate at $1. Read more about the structure of the project can be found in the exclusive ForkLog.

In addition, Coinbase announced that through the service Coinbase Commerce, the launch of which took place in February 2018, has already carried out transactions for more than $50 million.

As stated by the head of Justin O’brien, the platform is steadily growing and its monthly use about ten thousand customers.


Weiss Ratings: there will be a great time to buy bitcoin

The best time to buy bitcoins would come in during the correction, which will begin in the near future, says the analyst of rating Agency Weiss Ratings Juan Villaverde. The last time such an opportunity was in 2015, when the rate dropped to $300, and then in December 2017 has established a historical maximum of $20 000. RBC Crypto.

«When the rate of Bitcoin has risen from $2 to $7 in January 2012, a few months later, bitcoin underwent a correction of 45%, to $4. But it was only preparation for «bull market», which helped the cryptocurrency for the first time in history to reach the four digit mark of $1,200 by December 2013,» added Villaverde.

He stressed that since the fundamental factors of Bitcoin has significantly improved: the number of transactions has increased as the volume of trades. However, the Commission in the network remain low, because people use the technology Lighting and SegWit, all of this suggests the possibility of a new explosive growth of the cryptocurrency rate, said the analyst.