The FSB criticized the idea of creating a digital profile of the Russians on the same platform

The Federal security service (FSB) criticised the bill on the creation of digital profiles of citizens of the Russian Federation. The Department believes that the draft law «contains no specific goals for the achievement of which provides for the processing of personal data in the proposed volume.»

According to «Kommersant», the letter with appropriate comments, the FSB sent the head of the state legal Department of the President Larissa Brycheva.

«Data processing in the framework of the common infrastructure significantly increases the risks of improper collection and distribution, as well as the disclosure of information about persons subject to state protection», — said in the letter.

The FSB believe that the draft needs improvement.

«Fear the FSB is clear, especially against the background of several major leaks that occurred this year. Digital profile is as good as the concept. In reality, however, will inevitably arise a number of difficulties», — said ForkLog Roman Jankowski, Advisor practices IP/IT companies «Tomashevskaya and partners», member of the Commission on legal empowerment of the digital economy of the Moscow branch of Association of lawyers of Russia.

In his opinion, one of the main problems may be the mechanism by insufficient remote query consents to the processing of personal data.

Co-founder of the Moscow School Digital Boris Edidin also noted that the implementation of this idea requires «to check the adequacy of available data-reporting requirements».

«In many cases, it appears that personal data is not really needed and going excessively», he said.

In addition, according to him, the price for any failures, errors, and hacking of such systems is greatly increased.

The concept of a digital profile presented the Russian Central Bank and Rostelecom last year. In July, the bill introduced in the state Duma.

It involves the collection of all the various departments of the data on Russian citizens on the same platform.

We will remind, in September the state Duma in the first reading adopted a law establishing a base of information about Russian citizens.


Bakkt intends to start settlement bitcoin futures

Adjustable cryptopleura Bakkt going to the end of the year to expand its offer design futures bitcoin.

Speaking at the conference CoinDesk Invest: NYC, chief operating officer Bakkt Adam white said that the division of Intercontinental Exchange (ICE) is already working on a new product.

«We also intend to offer the contracts, calculated in Fiat currency», — he stressed.

According to white, new product launches in response to consumer demand. Contracts will be based on data already presented on Bakkt monthly futures with physical delivery of bitcoins.

New tools will be started on the basis of the clearing house and ICE Clear Singapore will be traded on the platform of ICE Futures Singapore. Thus access to the futures will be customers around the world. Bakkt currently actively negotiating with the Monetary authority of Singapore for the resolution of legal issues.

Among the regulated exchanges currently estimated bitcoin futures presented only for the CME Group, which early next year will Supplement its line of products options on the first cryptocurrency.

Returning to Bakkt, we note that despite the rather sluggish start, the volume of trading in deliverable futures is gradually increasing.

In addition, Bakkt is going to launch a bitcoin options December 9, that is, before its competitor CME.

Also recall the recent custodial service Bakkt Warehouse has become available to institutional investors around the world.


The modern state of mining industry and forecast to 2020

Why despite the emergence of POS-mining and other algorithms, bitcoin continues to work at the POW algorithm and burn megawatts of electricity? It may be wise to switch to another algorithm, disable mining farm and enjoy the peace and ecology?

In this article we tell you why mining bitcoin is important and it will continue to evolve. Also will look to whether there is still the opportunity to come to this market to private miners. Whether to mine bitcoin or it’s time to look at other cryptocurrencies? We will discuss separately what the mining prospects for 2020 and beyond.


Let’s start with Hasrat bitcoin. Open schedule and what do we see?

After setting a new record of 114 EH/s, the network capacity has literally fallen to 78 EH/s, however, then rebounded slightly. Let’s think about why it happened?

Hasrat bitcoin jump constantly and that’s fine. The fact that the miners not only mined bitcoin on the same ASIC miners with the same success it is possible to produce, for example, Bitcoin Cash. The main thing is to make the hashing algorithm match, and switch to mining other cryptocurrencies will not be difficult. That, in fact, do many of them, especially those tied to mining giant Bitmain, because this company has been openly supports Bitcoin Cash. So as soon as the price in one way or another cryptocurrency with similar algorithms goes up or down, the miners simply select the network where you can get more profit at the moment.

Another reason for such a sharp decline Hasrat could be some natural disaster or another reason that led to the shutdown of a large mining farm, most likely Chinese. Because there are concentrated the main world power for mining bitcoin. Such was the case when flooding washed away a large mining farm, or when one of them was destroyed by a fire. This time there were no reports about such disasters, but do not forget that China is going to withdraw from the shadow of all miners, for which they have checkpoints, perhaps some objects were temporarily shut off its power with this purpose.

But overall, and this is both good and bad, the development of the mining industry is in full swing. In business again back the good old Jihan Wu, who again took the post of Director General of Bitmain:

As they say, less than six months, although about as much time has passed since the departure of Jihan from this position. The company then thought to switch on developments in the field of artificial intelligence, but now again announced a policy of production of new ASIC devices. In addition, the company decided to issue shares and become public, which filed for an IPO in the United States and even attracted the support of German financial holding company Deutsche Bank.

This behavior can be called Bitmain expected, because of their superiority on the market have threatened competitors of the company Canaan Creative. First they boasted that they have a pre-order for 500,000 new ASIC Cove of its own production. And then filed for IPO in USA, trades I plan to hold on the NASDAQ and was going to raise $400 million.

Well, the main news from the world of mining. Most likely, you’ve heard a story about how the Russian Internet Ombudsman Dmitry Marinichev helps to build the country’s largest mining-farm on the basis of idle aluminum plant in Karelia. I wonder, what does the Internet Ombudsman is mining, which is in the country it is unclear what rights. Hmm… The Roof?

But really the main latest news from the world of mining we call a statement an influential Chinese official, the fact that in Sichuan province, which produces most of bitcoins, there are still reserves in the form of an overabundance of electricity produced.

It radically negates the previous news about the desire of the Chinese authorities to force the miners from the country. Apparently, they decided to use the principle that if you can’t stop, then it’s worth the to lead. And now the TOP 1 miner in the world, China may try to become a monopolist in this market.

Private mining

Is it possible to compete with those whose mining farm occupy space comparable in size with the industrial plants? Clearly, no. And sad as it was, but Satoshi Nakamoto conceived all very different.

Initially it was thought that everyone will mine on your home PC, thus maintaining network security. But the growth rates of the first cryptocurrencies were those who made mining his business, with the result that the industry has come to the advent of ASIC devices. These powerful processors are no longer capable of that, except to calculate the hash of the next block of bitcoin, but with this task, they do perfectly.

And what about those who worked in this market before, or only now learned about it and decided he wanted to try? The answer is and it may make a profit.

Let’s start with the fact that there are pools for mining. After all, private lonely miner a chance to mine a block bitcoin, and other less popular crypto currency, the same broadcast or litecoin the situation is the same. Alone can not survive, but you can connect to the pool and get a part of his earnings depending on the share of your mining farm in the total power pool. That is, work is still really important but the question of profitability. Therefore, the modern miner in 2020 will definitely need business skills, which will consider how much to invest, what will be the cost and how much profit can be obtained at the output.

As for the strategy of earnings, they are actually two:

  1. The first is the constant switch from one cryptocurrency to another, depending on the current capacity of their network and the cost of the us market. Minim what is profitable right now and then sell. The farm in this case is gathered from the cards to have maximum flexibility in the choice of the mined cryptocurrency.
  2. The second strategy involves working for the future and for those who believe in the same bitcoin, Ethereum, Litecoin or Bitcoin Cash in the long run, even if your farm is running at a loss and you provide it at my own expense. But after growing cryptocurrency market all this will be compensated with a big impact. Of course, such a strategy fits in that case, if your farm is not profitable, but you still get the cryptocurrency cheaper than it costs on the exchange. And if not, then unplug from the outlet and just invest on strategy HODL.
  3. There are, of course, a third option, when you have mining hardware owned and you are just renting it for a fixed amount. You its earned, and the tenant gets a profit or not is not your concern.

Mining will not die

And, finally, talk about why you should not write off from accounts of mining, and to succumb to the propaganda of ideas of what is expensive, spend a lot of electricity and generally it’s time to change something.

So here’s three reason why classical mining algorithm Proof-of-Work will not disappear.

First, bitcoin clearly proves that it is the most reliable defense mechanism against possible attacks on the network.

Secondly, the issue of cryptocurrency using POW-mining is actually generating its cost of recycled electricity, for which you need to pay. You can consider it the greatest stone to the cryptocurrencies algorithm Proof-of-Stake, but where there are new coins? Just because you’re done, you have to account for cryptocurrency and here you go for it? Only this resembles the printing of paper money by Central banks, because they have such a right, that print.

And the third argument in defense of mining. When you once again will tell you how much he requires of electricity. Remember that the world now produces more than is consumed. And everything is relative, because the lighting and appliances in the branches of the Bank spends much more electricity, but no-one accuses them of unnecessary consumption of resources. And how much electricity we spend on maintenance of the offices of the officials?… but that’s another story.


50 bitcoins mined in 2010 were donated for the development of cryptocurrency Grin

One of the first users of bitcoin made a major contribution to the development of Grin, Aldona with a high level of anonymity. The blog of the project, the product Manager Grin Daniel Lemberg reported that he received 50 BTC from coinbase transaction (remuneration of the miner), which dates back to 2010.

The sponsor wished to remain anonymous, and left a small letter in which he said that the Grin reminded him of the 2009/2010 year (probably keeping in mind the early days of bitcoin). Judging by the text of the letter, this is not the first donation from this man and he was pleased with how the money was spent and how the development of Grin, which focuses on technology and Protocol, rather than the financial side of the project.

Grin is a relatively new altcon on Proof-of-Work, which was launched in January of this year. The main feature of the project is the use of a Protocol mimblewimble, which provides a high level of anonymity for users. Like bitcoin, the project is not conducted or ICO remain, and its development is supported by a team of volunteer developers through donations.

In the background of this news of course Grin increased by 30% (according to CoinMarketCap).


Hackers started to steal cryptocurrency via Youtube-video about the theft of cryptocurrency

On Youtube there were videos that distribute malware designed to steal digital assets. It is reported Bleepingcomputer.

In the video advertised the tool is able to generate private keys for bitcoin wallets.

In the description of the video there are links to the archive with the program downloaded through Google Drive and Yandex.Disk.

To download a program to steal cryptocurrency leads to infection of a Trojan virus Predator, the Thief. Using it, the hackers get access to the clipboard of the victim can steal the files, use a webcam and keep track of transactions in the cryptocurrency.

Currently, downloaded malicious videos won a total of thousands of views. On the exact number of victims and amount of damage not reported. According to VirusTotal, containing a Trojan file setup.exe currently find 2 of the 71 antivirus.

Experts advise owners of cryptocurrency victims of hackers, immediately change the passwords to financial accounts, web sites, instant messengers and game accounts for Steam

We will remind, in October the experts of antivirus company ESET has detected in the descriptions below the video on YouTube traces of the crypto Trojan Casbaneiro. The virus restricts access of victims to various banking sites, and replaces the personal data of cryptocurrency victim’s wallet to the address of the fraudster.


Binance plans to add support for 180 Fiat currencies

CEO of Binance Chanpen Zhao said that his main task in coming months will be the integration of the remaining 180 Fiat currencies in the world the trading platform of the exchange, said Micky.

Currently Binance supports the Euro (EUR), Ukrainian hryvnia (UAH) Kazakhstan tenge (KZT) to Nigerian Naira (NGN) and Russian ruble (RUB).

«One of the key things I want to do for the next few months — six to nine or so is to get these other 180 [Fiat currency] on», said Zhao, speaking at the Binance Super Meetup in Singapore.

He also referred to the planned improvements in customer service exchanges. According to him, now the support team responds to queries within a day, plans Binance to reduce this time to hours or less.

Recall that in an exclusive interview ForkLog of Chanpen Zhao told about the early investments in the cryptocurrency, as hackers and Russia.


Justin San confirmed that it acquired a stake in Poloniex

Justin San, the founder of blockchain platforms TRON, confirmed that part of a group of investors that recently bought from Poloniex bitcoin startup Circle. He also has told about plans of cooperation with the exchange.

Circle acquired Poloniex in February 2018, reportedly for $400 million, planning to develop the business. However, the market share of the exchange fell from a peak of 60% in 2017 up to 1%.

In October it became known that Poloniex is separated from start-up, and a new operator will be the company Polo Digital Assets that will support «big investment group». The media has reported that Justin San involved in this group or even its head. Founder of TRON has denied the information, saying that he «buys nothing».

Now San has confirmed investment in Poloniex and announced a number of initiatives in partnership with the exchange. Among them are: listing TRON (TRX) on the platform and holding in the next few weeks airdrops for users. Also TRON will cooperate with Poloniex in the field of trading, but details not revealed.

Exchange has announced the listing of TRX, the coin is traded in pairs with bitcoin and stablename USDT and USDC.

Recall, Justin San paid a record $4 567 888 at a charity auction for the opportunity to have lunch with legendary investor Warren Buffett. The meeting was scheduled for July 25, but it was moved. The reason is called the problem of a dignity health. But some Chinese media said that the founder of TRON is under investigation and cannot leave China.

In September, San promised soon to call a new meeting date with Buffett.


Bakkt want to run the contracts, calculated in the traditional currency

Platform Bakkt intends to Supplement its proposal deliverable futures expect bitcoin to traditional currency alternative. Reported operating officer Bakkt Adam white at the conference, CoinDesk Invest: NYC.

«We’re going to offer the contracts, calculated in the traditional currency,» he said.

According to people familiar with the matter sources, the new futures are launched on the basis of the Singapore clearing house ICE Clear Singapore and apply at the site of ICE Futures Singapore. Access to them will be provided to customers Bakkt worldwide, as well as to existing contracts that are processed through the ICE Clear U.S.

According to white, the new product is a response to customer requests and will be based on data sent from an existing futures market Bakkt. The company expects to submit a new contract before the end of the year but is still at the stage of negotiations with the Monetary authority of Singapore.

Currently, only the Chicago Mercantile exchange offers such tools in the United States, while Bakkt in case of successful implementation of his plan will support both types of contracts.

Bakkt recently announced a plan to launch bitcoin options with a consumer application to pay for goods with bitcoin. On Monday it became known that the custodial service Bakkt was open to all institutional investors, including those who are not involved in trade at its market bitcoin futures.


Bitfinex launch options and backed by gold stablon

Cryptocurrency exchange Bitfinex intends to offer stock options in the first quarter of 2020. Soon will be added to the perpetual swaps and futures on a basket of assets, said technical Director Bitfinex and Tether Paolo Ardoino in an interview with The Block.

He also said that the company plans to release the Tether stablon Gold, backed by gold. Details Ardoino not disclosed.

According to him, the development of derivatives took several months. Now the exchange ahead of the start options works with external market makers to provide liquidity.

Arduino said that Bitfinex will give the customers the opportunity to buy goods for cryptocurrency with gift cards. To ensure their release, the company plans to work with «major partner».

«It is important that people could see more high-value cryptocurrency, and not just trade back and forth between bitcoin and the dollar or something else,» he said.

Recall, according to the analyst, The Block Larry Cermak, Bitfinex is among the exchanges with the most liquid currency pairs with bitcoin.


Telegram asked the court to dismiss the SEC without reapply

The company sent a Telegram to the court documents, which requires to reject the claim of the US Commission on securities and markets (SEC) banning the production and distribution of tokens Gram.

As reported by RIA Novosti, in a new statement, the Telegram continues to insist that digital currency Gram does not have characteristics of securities.

«Gram doesn’t exist yet, but if once and will exist, there will be currency and/or product, and not securities under the Federal securities laws», — stated in directed to court documents.

In this Telegram accused the regulator that the latter promptly informs you that is a violation and what is not, and does not provide clear instructions.

«Also, the defendants deny that the plaintiff is entitled to any compensation, and asked the court to dismiss claims against the defendant with a ban on re-claim and award (the defendant) the compensation that the court deems fair», — said in a statement.

The news is updated.

We will remind, 11 Oct SEC through the Federal court made an interim injunction on the distribution of Gram among investors. The Agency considers that the asset is a security, a Telegram has violated the laws of the United States during the ICO.