Roskomnadzor has blocked access aggregator exchangers Bestchange.ru

Popular search portal for exchange services, including exchange of cryptocurrencies, Bestchange has been blocked by Roskomnadzor, Russian users on March 11 in accordance with the decision of Kuibyshev district court of Omsk on July 24, 2018.

According to the decision, Bestchange and a number of similar services offer «services on the use of «electronic currency» Bitcoin (bitcoin), which is a virtual means of payment and accumulation. Specified cryptocurrency not backed by real value, does not contain information about its holder (all usage anonymously)».

The plaintiff in the face of the Prosecutor of Omsk has filed a petition asking to recognize the information posted on these sites for illegal distribution on the territory of the Russian Federation, which the court decided to satisfy.

In its decision, the court refers to article 27 of the Federal law of 10.07.2002 № 86-FZ «On the Central Bank of the Russian Federation» according to which the official currency in Russia is the ruble, and the «introduction of other monetary units and issue money substitutes is prohibited.»

«In such circumstances cryptocurrencies including Bitcoin, are money substitutes, contribute to the growth of the shadow economy and cannot be used by citizens and legal entities on the territory of the Russian Federation», — stated in the decision.

The court also refers to the position of the Central Bank, according to which «the use of cryptocurrency in transactions is the basis for consideration of the assignment of such transactions to the number assigned to the financing of terrorism», and «granting Russian legal entities services for exchange of virtual currencies will be considered as a potential involvement into realization of doubtful operations in accordance with the legislation on counteraction to financing of terrorism».

«Thus, this activity contradicts the Federal law from 07.08.2001 №115-FZ «On counteraction to legalization (laundering) of incomes obtained in a criminal way and financing of terrorism»».

In may 2017, guided by the similar arguments, the decision to block Bestchange along with 39 other sites of a similar focus carried the Kastrychnitski district court of St. Petersburg.



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The SEC believe that Ethereum does not have characteristics of securities

The Chairman of the Commission on securities and exchange Commission (SEC) Jay Clayton confirmed that Ethereum and similar cryptocurrencies could be a valuable papers in the past, but to lose this status over time.

In June last year, the head of the SEC division of corporate Finance William Hinman said:

«As I understand the current state of ether, Ethereum network and its decentralized structure, existing offers, and sale of live transactions are not securities. Application of securities laws to the airwaves is of little use».

Although the statement of Hinman was seen as an important step towards reducing uncertainty in the regulation of cryptocurrencies, not everyone believed that it can be regarded as a reflection of the official position of the Department.

Organization CoinCenter together with Congressman Ted Budd sent a letter to Clayton asking to comment on the words of Hinman and published the official response of the Chairman of the SEC this Tuesday.

«You are asking do I support certain statements about digital assets, Hinman did in a speech in June 2018. I agree that the status of the digital token as securities is not a permanent attribute of the tool. The digital asset may initially be offered and sold as securities, because it meets the definition of an investment contract. If the role of a digital asset changes over time, it may cease to meet this definition, wrote Clayton. – I support the clarification of Hinman about how the transmission of a digital asset may cease to be an investment contract if, for example, the buyer has no more reason to expect that an individual or group of individuals will play a significant role in managing them. In these circumstances, the digital asset may be an investment contract in the context of the Howie test».

In November last year, Clayton said that the SEC will not be allowed to launch a bitcoin ETF, while the problem of manipulation in the market of cryptocurrencies is resolved.



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The Russian state Duma adopted the law on digital rights

March 12, in the third reading deputies of the Russian state Duma adopted the law «About modification of parts the first, second and fourth Civil code», which enshrines in law the concept of «digital rights» (article 141.1 of the RF civil code). This is the official website of the state Duma.

The law defines digital rights as «contractual and other rights the contents and conditions of which are determined in accordance with the rules of the information system conforming to the law of signs; execution of, the disposal, including transfer, mortgage, encumbrance of digital rights in other ways or limiting the disposition is only possible in the information system without resorting to third party».

To facilitate transactions with digital rights law equates to a simple written form of the transaction, «the expression the face of his will through electronic or other similar technical means». The requirement of a signature is fulfilled when used by any method that allows to reliably detect a face, expressing the will of the (rules do not apply to the drafting of wills).

In addition, the law clarifies that «the meetings at which the decision is made by ballot, such vote may be by electronic or other technical means».

The law will come into force on 1 October 2019.

Managing partner of the legal company «Effective business resources», co-founder of the program of additional education of BCL Alexander Zhuravlev commentary magazine ForkLog expressed confidence that with the adoption of the law on business and ordinary citizens will guarantee their rights, including the fundamental right to judicial protection.

«Of course, of the existing draft amendments to the RF civil code has flaws that can lead to uncertainty in part: definition of the legal nature of cryptocurrencies and mining, as well as some other aspects (inheritance digital of financial assets, etc.). However, it is worth noting that Russia did not go the way of China and India, having chosen a prohibitive approach to digital assets.

You need to pay attention to the fact that the legislator can still correct the situation with the definition of the legal nature of cryptocurrencies and mining, if you make changes to the draft Federal law «On digital assets.» In that case, if that happens, many potential risks for market participants will be removed,» he said.

We will remind, amendments to the bill «On amendments to the Civil code of the Russian Federation» was approved by deputies of the state Duma on March 5.


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Following the global trend: OKEx exchange will launch a platform for new tokens

Another follower Binance with its platform Launchpad has become the largest market OKEx.

According to operating Director OKEx Andy Cheung, already almost all is ready to launch a platform for the new tokens. As follows from # hashtag to the tweet it might be OK JumpStart.

For more information about the new platform is still unknown.

Earlier today it was reported that the analogue of Binance Launchpad launches trading platform Bittrex International. The first IEO on the new platform will take place on March 15, and the pioneer will be focused on the gaming industry project RAID token XRD.

Also recall, is preparing to launch a platform Huobi Prime. However presented her assets will be based on our own token exchange HT.


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AY 360: review on application for crypto-auctions platform Auctionity

App of the day

Auctionity 360 or AY 360 is the app to track lots and participation in public auction from cryptocurrency firms Auctionity, which is owned by blockchain, the company DomRaider. The French company last year launched its website, it has become quite a popular platform for carrying out auctions in European countries, so for the convenience Auctionity has developed a program for smartphones, which is available for download on Android and iOS.

AY 360

The blockchain app for the auctions from Auctionity

DeCenter met Auctionity in October at Crypto Games Conference in Minsk. Then the developer of the project Begona, Garrido presented the platform and its desktop version for the auctions. Already tested the app Auctionity 360, which was supposed to be a Supplement to the main website, where the auction lots art, in particular paintings.

Auctionity in favor of the digitalization of art and developing a new area of creativity in it-format. Therefore, to promote the pixel pattern the project proposes using advanced forms of trafficking in paintings through the blockchain auctions, where all transactions are made in digital coins. The framework uses the Ethereum blockchain and token of the parent company DomRaider — DRT. It is designed based on the standard NFT — Non-Fungible Token. This format is used to unify objects into such projects as CryptoKitties.

The app itself Auctionity 360 offers to participate in auctions in real-time. Initially, without registration and additional data will have access to the views of past, present, and future auction, which was held on the platform. Other features that are on the website Auctionity (viewing of video clips, communication with the community) are not yet available.

For participation in the auctions it is necessary to scan the QR-code, which will be available on the desktop version in the personal area after the start of the stage saleroom. Therefore it is better to register through the website. The project Auctionity for work uses a crypto-wallet Portis, all transactions will be performed through a transaction here.

After completing the KYC procedure will be available entrance to participate in the open auction. If the user wants to test the application Auctionity 360, you can use the demo version of the auction. On February 28, 2019 was available in the auction «The Art of Impossible», which keep track of on the site in real time or through the app, which is installed on the tablet but not on smartphone.

In the application Auctionity 360 view available for trading the lots and make your bids using the BID button. The price for the paintings presented in the correlation token to the three Vietnam currencies: the dollar, Euro and pounds. Under the submitted lots are shown details of the auction and works of art. More through the smartphone version of the app Auctionity 360 is impossible to do anything.

Auctionity 360: review

The concept of crypto-auctions based on the blockchain — a progressive case which will expand the boundaries of perception of art and will make all the trades open and reliable. However, until the platform Auctionity is designed only to work via the desktop version, not the smartphone app. Likely, if the project developers will engage in further development of this mobile application, you will soon be able to participate, and to view auctions from around the world how it’s done on the website Auctionity.

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The prospects of the mining of cryptocurrencies in 2018

Article

With the growing popularity of cryptocurrencies has grown and the demand for mining hardware. However, if a few years ago a miner could be anyone with access to a powerful enough computer, the last year the situation has changed dramatically, and past methods of cryptocurrency mining are ineffective. We reviewed the most current tendencies in the sphere of mining cryptocurrencies for 2018.

Video cards for mining

To date, for mining requires expensive equipment, and in particular the video card. So, in June this year, the Chinese online marketplace AliExpress has reported an increase in requests for the purchase of certain models of video cards, the most suitable for creation of mining farms. The most popular among Russian miners steel graphics card Nvidia GeForce GTX 1060 and 1070 GTX and Radeon RX480, manufactured by Advanced Micro Devices (AMD).

As these models are popular not only among Russian miners, last year there was an increase in the value of shares of AMD at 64%, and the value of the securities of Nvidia Corporation from the beginning of 2017 have soared by nearly 88%. Experts connect this growth with the increasing number of miners in the networks of Ethereum and other cryptocurrencies. This is evidenced by published data where it is noted that in the second quarter of 2017 6.7% of the company’s revenue was derived from Nvidia’s sales of graphics cards used for mining cryptocurrency. This makes it possible for both companies and ASUS have already begun to issue special cards designed for cryptocurrency mining. Also this summer it became known that AMD is developing a processor Starship with 48 cores, which will be at the 7-nm technology standards and will be released in 2018.

However, experts warn that manufacturers of equipment for mining about the coming decline of the popularity of their products. According to Joseph Moore, analyst at American Bank holding company Morgan Stanley, mining may become economically viable occupation in 2018:

«We anticipate that total sales of graphics cards for mining ether in 2017 was about $800 million, but in 2018, this amount could be reduced by 50%».

The first reason for this decline Moore calls the planned reduction of remuneration to the miners in Ethereum from five to three esters. Second — change the consensus algorithm with Proof of Work (PoW) to Proof of Stake (PoS), in which the ability to create a new block and get the corresponding reward proportional to the balance of the user, not the amount of computing power. This trend notes and analyst at Japanese investment Bank Mizuho Vijay Rakesh, who believes that in the first half of 2018 to start mining cryptocurrencies such as ether, no longer need video cards:

«We think that in the first half of 2018 in Ethereum will be a transition from algorithm Proof of Work, which involves the use of cards, to Proof of Stake algorithm, which graphics card do not need».

The project to change the consensus mechanism Ethereum got the name Casper and implies a rejection of specialized computer equipment for the new block. Instead, users will be able to provide your funds to be frozen temporarily, and in return they will have the opportunity to participate in the confirmation of the transaction. So Casper will create a system that would resist the centralization of mining. This update Ethereum will be activated already when the planned fork near Constantinople, which can occur in early 2018.

However, despite the potential change in the mechanism of consensus in Ethereum, the head of Nvidia Juan Gensun sure that the demand for video cards for mining crypto currency is unlikely to fall, as the blockchain technology and cryptocurrency, «not going anywhere»:

«This market is here to stay, and in the future we can expect new cryptocurrency. They will appear in many different countries, and video card will still be a great tool for their production».

ASIC miners

For effective mining of cryptocurrencies was also established schemes ASIC (Application-Specific Integrated Circuit), which exist in the form of chips. ASIC chips are used in a specific device and perform strictly limited functions, which makes these functions faster and cheaper. These chips are many times cheaper graphics cards, because with more power they consume much less energy. Also mining farm (a high-performance computer with multiple graphics cards) require more time spent on Assembly and packaging, while the ASIC miners are a ready-made solution.

This year it became known that companies like Samsung, Intel, TSMC and Global Foundries are developing chips 7-nm ASIC for mining, and production is scheduled for the first quarter of 2018. These chips will have higher energy efficiency compared to the previous 14-nm chips.

And Japanese Internet giant GMO is actively developing direction of mining within the company. So on 20 December it became known that GMO started to work the Department of mining. The company also plans to release a new ASIC miner, which will be based on 7-nm chips. Mass production of chips with this technology is scheduled for may 2018. Also next year, the GMO will hold the ICO for sale mining boards of the new generation. Issued tokens are used as a method of data acquisition boards. In the company’s plans include the construction of a mining centre in Northern Europe:

«We plan to build in Northern Europe mining-center for the next generation based on renewable energy sources and advanced semiconductor integrated circuits. We use leading technologies to apply 7-nm chips in mining, and together with our partners will do research and development and subsequent manufacturing of semiconductor technologies.»

In Russia in September this year, Russian Mining Company (RMC) conducted the ICO in support of producing a new miner Sunrise on the Bitfury chips and miner development Multiclet on the same chip. During the ICO has received $43.2 million In the company involved 15 businessmen and cryptocurrency activists, RMC brings together four companies: MultiClet, SMARTHEAT, GOODWIN and RadiusGroup. The company began production of the miner Sunrise, and by the summer of 2018 plans to develop a next-generation processor Multiclet, which will allow to increase efficiency of mining up to 35 times.

Cloud mining

Obviously, for successful mining, you need a powerful and expensive equipment that is also extremely energy intensive. For this reason the company developed an alternative view of mining — cloud. The company, which has a powerful data-centers, provide equipment, resources which are given on lease to the ultimate consumer. Companies such as hashcoins datacenter, Genesis Mining, the Miner Bit and OxBtc provide access to the mining of a number of cryptocurrencies immediately after the conclusion of the contract and of payment.

These services have high demand, and there is no reason to believe that in 2018 this trend will slow, as cloud mining is affordable, reliable and convenient way to obtain cryptocurrency does not require the purchase of expensive equipment. From disadvantage is the probability that the seller contracts, cloud hashing will come across unscrupulous, and the site that provides this kind of services may be subject to hacker attacks, users also have no control over the Commission they receive for mining, and, moreover, unplanned losses will force the data center to lay the following contracts less return of funds to users.

The tax on mining

At the moment in Russia, as in other countries, there are no laws regulating mining cryptocurrency. But, according to the decree of the President of Russia, by the summer of 2018, the government and the Central Bank will need to develop taxation and registration of companies engaged in the mining of cryptocurrencies. Presumably, this initiative will be distributed to companies and private miners.

Also in December of this year, the presidential Commissioner for protection of entrepreneurs ‘ rights Boris Titov has proposed to introduce a tax on mining cryptocurrencies at the rate of 14%.

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Why the Bitcoin network, appear abandoned blocks and what happens to them

Longreads

According to the official Bitcoin Core terminology, «abandoned» («uncoupled» or «stale») blocks (stale blocks) are blocks that are not part of the main chain. They can be created naturally when two miners produce two units almost simultaneously or they may be generated by an attacker to perform an attack on the blockchain. And «blocks orphaned» (orphan blocks) Bitcoin Core refers to those units, the «parent unit» are not yet known, that is, the node it has not yet processed. However, the community often mixes up these concepts, referring to «orphan» the block that was not included in the main circuit, because it was ahead of the other. In particular, this designation uses Blockchain.info.

Returning to the traditional terminology: «parent» connection block-orphans more often than not, are established, the block is confirmed and takes its place in the core network, however, abandoned, «duplicate» blocks are unnecessary and are never displayed in the main Bitcoin chain.

It forms a series of problems, one of them for the miners if the miner randomly generated a block at about the same time with each other and the network chose not his unit, he will not receive awards. In addition, too many such units can make a network more vulnerable to attack, namely the attack of 51% and as a result double spending.

«If the miner-the attacker controls a large share of hashing power, he will always have an advantage in the extraction of the next block and he can choose not to transmit the block immediately to the main chain, but to do it around the same time with the production of [another] new block», — says a leading developer Blockbid Bernard paech, noting that it is necessary to be extremely accurate with the introduction of your unit, always a step ahead of the rival miner. Thus, the attacker creates a parallel, controlled network, and when it becomes long enough, the Bitcoin Protocol begins to consider it a priority. With this power, an attacker can «roll back» transactions, that is, within the «private» chain to accept already verified the transaction void and to re-allocate the funds.

This centralization of hashing can be used not only by hackers but also by all members of the network who want to naibolshey award. The concept of «selfish mining» was first described in 2013 by researchers at Cornell University Emin Kyeong-by Sirer and Eyal Item. They showed that miners can get more together in a group and hiding the newest of the generated blocks, thus the secret of creating your own branch (which at first will technically be a chain of «abandoned units»).

Initially it will be shorter than the main network. However, the «selfish miners» can calculate the time for the «show» of new units, making them public only when the size of the network becomes comparable to the size of the core. Thus, they know that their network (with high probability) will become mainstream, and honest miners, not knowing it, working for nothing. When the «private network» will reach a competitive size and will be presented openly, it can also join and simple miners in search of greater rewards. And this development can also lead to the scenario of the attack 51%, depending on the desires controlling the network pool.

In 2015, the problem of abandoned blocks was discussed in the context of the block size and scalability (in the same year, Bitcoin Core developer Peter Voil proposed SegWit). Rusty Russell, a member of the Blockstream team is currently working to develop our Lightning Network, in the midst of debates 2015 noted that the increase in Bitcoin block size will increase the proportion of abandoned blocks, as the «major blocs need more time to process the Blocks in which no transaction is the smallest, and because they are faster. They still provide a reward of 25 bitcoins [after the next halving the reward of Bitcoin is the bitcoin 12.5. — DeCenter.], although not much help to the users of bitcoin,» wrote Russell. Even then he noted that the growing level of abandoned blocks makes untenable the hypothesis that the miners deliberately refuse centralization not to drop the reputation of bitcoin, followed by its price. «The miners are behaving very badly. Pools organized attacks on each other with amazing regularity… Large mining pools use their power to double spend and steal thousands of bitcoins from the gaming service [Russell refers to the attack, carried out by GHash.IO on BetCoin Dice. — DeCenter.]… If the big miners will be able to use large blocks as a weapon against small [miners], most likely they will be to do it,» warned Russell.

Statistics Blockchain.info the greatest number of abandoned blocks were observed in the period from March 2014 to June 2017 — then in a week I made several of these blocks. However, according to the chart, before this period and after the number of abandoned blocks is equal to zero, which seems implausible. Community members have noted that the chart started to work incorrectly: «They [the cast blocks. — DeCenter.] was significantly less, but still some of it should be,» writes one Reddit user. «This chart is broken, my node got thrown blocks every 500-1000 blocks for the last 6 months,» wrote a user under the nickname statoshi in January, also mentioning that he spoke on this topic with the developer Blockchain.info and «they are aware that it is broken». On another page Blockchain.info reported two cases of abandoned blocks this year: on 12 January and 4 June. The participants noted that there are «several abandoned blocks», which are not reflected in the first chart (and maybe the second too), but also in the community recognize «a sharp reduction» in their numbers. Many assume that this is due to the accelerated allocation of blocks through the relay FIBRE, created by Matt Corallo. The Protocol has not been implemented in the Bitcoin Core client, but can be used by users with full node Bitcoin on their devices. FIBRE «conveys blocks of the network node with little or no delay at light speed through fiber». «For everyone who really wants to understand why (many) technicians so strongly oppose the large size of the blocks and the bitcoin cache, a good start would be understanding the FC — why it exists and how it works,» wrote a Reddit user. He also suggested that the take-off abandoned units was triggered by the growing popularity of bitcoin, whereas prior to 2013 were not enough miners to create a controversial situation with the simultaneously generated blocks.

9 Jun to discussions about abandoned blocks joined by the chief adept of the bitcoin cache Craig Wright, published in his blog post titled «Iron and steel». He argues that such blocks (in the terminology of Wright’s «orphan blocks» — the blocks are orphans) are not a flaw that need to be addressed. Drawing an analogy between forging steel and processing of a bitcoin transaction, Wright compared the abandoned blocks of iron, which is necessary for steel production. «Many developers think that the blocks are orphans are a major problem that needs attention and moreover elimination. Orphans is not a disadvantage, it is carbon which is introduced into the iron and making the steel bitcoin,» writes Wright. He argues that such blocks are a necessary part of the system, while the miners want to get rid of them for obvious reasons — because they do not bring reward. But this is only an individual benefit, whereas more globally, these units do not pose harm or damage the system. «The number of produced units of orphaned does not affect the remuneration structure or the system as a whole,» says Wright, noting that when theoretical reduction in the number of such units or the complete destruction of the awards will not be more. «Miners don’t understand that it [the possibility of thrown blocks. — DeCenter.] is the desired state, and they were accustomed to the fact that it is not desirable, and that if they are removed, then they somehow earn more. This is the lie we must fight,» — said Wright.

He also notes that if you «fix» such blocks, then it can ruin the entire system: «the Simple truth is that the blocks are orphans, and what is understood as related faults, are a key element that provides the Bitcoin. It’s not something that needs to be addressed with the purpose to make Bitcoin more efficient, is a critical aspect, which in the case of its elimination will lead to the collapse of the system.» Wright believes that «Bitcoin requires a certain percentage of inefficiency» and «orphans unite miners» because they oblige them to constantly invest in resources that will help them to stay in the game. «The blocks are orphans contribute to the competition in the Bitcoin like system. Bitcoin is not intended for equal distribution, its goal is to create a competitive environment in which the miners and the businesses are fighting for every advantage, competition is the heart of this system and it cannot work any other way… It helps all miners. However, as always in business, most people think about the short term and sees what they are losing, not the whole system,» writes Wright.

He observes that in game theory the relationship of the miners corresponds to the model of «deer hunting» that describes the conflict between personal and public interests. This type of interaction was described by Jean-Jacques Rousseau in 1755, in his treatise «Discourse on the origin and foundations of inequality among men»: «If hunting deer, everyone realized that he must remain at his post; but if near any of the hunters ran the hare, it is not necessary to doubt that the hunter shamelessly ran after him and overtook the prey, very few will lament that thus deprived of the production of his comrades.» That is what leads to more profit at the same time requires greater cooperation between participants. However, the man — hunter, and miner — easily lends itself to the idea of a small but personal gain in the form of a hare. Thus, according to Wright, if a hunter decides to go for deer alone, «the chance of success is insignificant and suboptimal», but a bigger problem is the need for «too great trust between the players».

The problem Bitcoin solves with asymmetries: as noted by Wright, the incentive system of Bitcoin makes it more profitable to «hunt deer», not the pursuit of small prey. Mining strategy involves a choice between increase hash rate yet (processing power) and increased «connectivity» (i.e. the ease of entry of new players into the system, which increases decentralization). In this case, the first option is more selfish and financially profitable — is the «pursuit of a hare», while the formation of a decentralized network (albeit with smaller individual yields) — collective «hunting deer». In pursuit of hare are a key instrument of ASIC miners, which has declared war on Monero and Ethereum. However, according to Wright, the desired future is a combination of increasing and maximizing can see «connectivity» to the network. He believes that one of the key aspects for the success of the mining system is a «tight connection» between miners and the «system signal»: «Signal will allow players to join together to create a more optimal strategy. A more secure system (more tightly bound) in the interests of both the user and the miner. Orphans mean significant losses for the individual miner… miner that has more than a strong bond with the other participants, can expect a lower proportion of orphans and a higher share of successfully extracted blocks».

Wright stressed that «mining is not about mining blocks, and about to transmit the extracted block to other miners», because the unit is included in the main circuit, only when the other miner «connects» to the next block, and so on.

Additionally, Wright asserts that Bitcoin Cash is the only «true bitcoin», reflecting the original idea of Satoshi, revisits the Bitcoin white paper, saying that abandoned units are an organic part of the system, providing «the only way that miners can honestly vote»: the miners «vote with the power of the CPU and Express their acceptance of valid blocks that continue the chain and rejecting invalid blocks by refusing to build on top of them new blocks. Any needed rules and incentives can be implemented through this mechanism of consensus,» he quoted Wright Bitcoin white paper.

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In the Netherlands stole Bitcoin ATM

In the Dutch city of Oudenbosch unknown stole a bitcoin ATM, installed in a local pub. In addition to the ATM they didn’t bring anything else.

Commenting on the incident, the Director placed the ATM company ByeleX Vissia Herman (Herman Vissia) said:

«I sincerely doubt the mental abilities of the robbers. Obviously, they don’t understand that bitcoin is a digital currency».

The price of Bitcoin grows, and the robbers apparently hoped to get rich by stealing cryptomath. However, Vissia blew away their expectations:

«These machines no coins. In addition, every evening all the money collected get».

According to Visii in the design of ATM used the basis from the old telescope, which weighs about 120 lbs. So you can only imagine the difficulties encountered robbers, stealing the ATM.

Chapter ByeleX upset by the theft and hopes that the ATM will be found and the robbers realize that they will not be able to extract money from him.

«Bitcoin can make money, but not this way,» he said.

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Fake EOS hacking: experts explain the nature of the transaction at $3.6 trillion

Information output from network EOS 1 trillion coins ($3.6 trillion) turned out to be fake. The post about the alleged hacking of a network emerged in Twitter account Whale Alert.

According to Whale Alert, big fake transaction created by the user under the nickname «fuckhacker.x». The transaction has been transmitted to the network before it had to remove. To fool the algorithm, the hacker was able with the help of the so-called «deferred transactions».

Attic Lab CEO Sergey Vasilchuk explained why the reason for panic.

«Duck of the day «Evil hacker has hacked the entire EOS and translated 100-500 billion EOS, a wicked Block Producers rolled back the transaction in the blockchain to save his skin» — you need to perceive the following «the network has sent a pending invalid transaction that has been rejected because it is invalid».

For an analogy, a talented student can form a transaction with BTC wallet «Satoshi Nakamoto» and sign it with some kind of signature, to send to the network and to shout that he hacked into the bitcoin network», — he wrote in his page in Facebook.

An official statement about the «incident» made and block producers EOS NewYork.

«It was a pending transaction. A transaction is created to send deferred transactions, may be indicative only of how the request was received successfully or failed. After transmission, the transaction is subject to the standard test of validity», — they explained.

We will remind, in November of 2018, the network Stellar was also seen fake transactions billions of tokens XLM carried out by the same address. The total amount of remittances exceeded available on the market offer


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Bitcoin price: $4220 confirm bullish trend

According to analysts CoinDesk, bitcoin price will most likely continue the upward movement, confirming the change long-term trend.

According to the observations of theanalytical on the three hour chart is fulfilled pattern «Inverted head and shoulders» which is usually followed by strong price movement upwards.

With the upward slope of the neckline passes through the level of $4220. The fact that the price has risen above the moving average (MA) with an interval of 10, gives confidence that the pattern is confirmed.

However, market sentiment will change dramatically, if the bears still prevail and push the price below $3658.

Daily chart

On the older chart also traced the aforementioned bullish pattern:

The daily chart of BTC/USD exchanges are Bitstamp from TradingView

If the «Inverted head and shoulders» of work is successful and bitcoin will overcome the downward maximum of 24 December at $4236, it will confirm long term uptrend. Consequently, the psychological threshold of $5000 will be only a matter of time.

Another positive factor is that for the first time since August of last year, there was a crossing of the MA 50 and MA 100 from $3670.

Weekly chart

Weekly chart of BTC/USD exchanges are Bitstamp from TradingView

The chart shows a bullish crossover of the 5 — and 10-week moving averages. The price kept steadily at a faster MA.

Thus, positive signals are visible on all higher timeframes.

We will remind, the other day ForkLog cited arguments in favor of the fact that the market could reach the bottom in December of last year.


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