The Indians are afraid to admit to the authorities that invested in cryptocurrency

Almost a year after the start of the investigation the case of alleged fraud cryptocurrency ATC Coin Ltd reached an impasse due to the lack of the victims.

According to police, the founder of ATC Coin of Subjacent Jewry (Subhashchand Jewria) lured investors with the promise of high yield, expensive gifts and advertising their own cryptocurrency, which after a blocking period of 1.5 years can be used for online purchases. The investigation showed that the scheme was multi-level fraud.

The company was fictitious, and funds raised were transferred to the personal accounts of the suspect and used for their own consumption, including the purchase of real estate. According to police, the suspect managed to collect about 840 million rupees ($11,41 million). Jewry was arrested and his accounts were arrested.

The Department of economic offences (EOW) of the Mumbai police found several of the alleged victims of the Scam, but none of them agreed to submit a formal claim for a refund under the Law on the protection of the interests of depositors.

Anonymous police officer told The Indian Express:

“With regard to crypto-currencies and in the absence of proper law and regulation, investors are afraid that if they are, you can deal with the scrutiny. Although we managed to trace a few of the investors, they have not filed any claims. Since then the thing stuck.”

Developing a regulatory framework for the regulation of cryptocurrencies in India is complex, the Commission, headed by Secretary, Ministry of Finance economic Affairs Subhash Chandra Garg (Subhash Chandra Garg). Initially it was assumed that the bill will be ready by 31 March, then the deadline was moved to July, then to September.

The Finance Ministry and the Central Bank (RBI) to take a hard stance against cryptocurrencies as legal tender. RBI banned from regulated financial institutions maintaining accounts associated with cryptocurrency trading.


Analyze this: what you say news?


It’s good to be an asset in the traditional market when your price due to the capitalization, financial statements and other factors that can «feel out» and explore. In kryptomere it is not so: the vast majority of cryptocurrencies have established their value by only the reputation and image of the project, there is still a huge amount of overvalued assets and undervalued coins traders are looking for the prospectors gold.

The stock market like no other, dependent on the government information. Use it and «bears» and «bulls», and the crooks that sphere, unfortunately, rich. Bears support (and, of course, organize) the publication of articles from the «cryptocurrency — evil pyramid and the bubble» in order to reduce the cost of bitcoin. Bulls make a rebuttal to defend its support line. This information war is relatively stable. The goal of fraudsters is to raise the information about HYIP project before the pump, that is why you need to be especially careful if in the media there is an enviable number of positive publications that promises the future growth of a particular coin. Remember what we talked about in earlier publications: any increase needs to be justified.

One of the key news agenda of the day — legislative regulation of cryptosphere. Any news, whether it’s the tightening of the Korea rules of import chips for mining or Germany’s recognition of bitcoin as a payment unit, affect the state of the market. In order not to make the wrong predictions about the value of bitcoin after the decisions of state regulators, to read this kind of news need with a cool head. First, the financial market capitalization in the past year has exceeded $800 billion, is a machine that does not break with one blow of the hammer of the judge. Second, the vast majority of States today do not know what to do with the stock market and how to regulate it, so expect that around the world in one moment the whole cryptocurrency will be banned, still not worth it.

No less important infrastructure news, raising the development of the stock market to a new level. The emergence of crypto-ATM, simplification of registration on exchanges, the simplification of purchase procedure cryptocurrency collaboration with the major payment systems, like Visa or Mastercard, the introduction of cryptocurrencies as a payment instrument, the major representatives of the retail sector — all it, certainly, is positively reflected on the value of the cryptocurrency, solidifying their position. Completely different mechanics, the news announcing the involvement of the financial giants in the world of cryptocurrency. Just recently, Goldman Sachs announced that Justin hires Schmidt as head of the division for work with crypto-assets. Goldman Sachs, the Rockefeller Fund and other investment behemoths have the capital that can move the stock market literally. Remember, we wrote about the «whales» in the world of the stock market? This is just what they are. These people (won’t call them companies, because specific solutions are always specific people), having made the decision to buy any altcon, can make him «see that moon» just a few minutes. Will financial whales to play these privileges, time will tell.

The news of hacker attacks and break-ins of kryptomere not assume the stock market nothing good. And if the bitcoin in this sense, a relatively safe (should happen do something terrible to him seriously «shook up» hackers), the Alta day and night fighting for the trust of investors. And convince people not yet involved in the stock market, its safety is one of the most important tasks for today. Not just so, analyzing one or another ICO, experts pay special attention to how the white paper addresses the issues of security. A number of investment funds, for example, was forced to introduce the condition legal guarantees return on investment after cracking it through a series of hacker attacks that have received great attention in the media.

To analyze background preferably from multiple sources, selecting among them those that are not miss the main or change of regularity and efficiency. Handy tool can be a news aggregator crypto-news and today there are dozens of sites offering such services. Still the most important source of news is word of mouth, Twitter and social networks. But, having the sensation of such a source, be sure to check whether the information is confirmed by the largest financial media, for which reputation is not an empty phrase.

Summing up, we select a number of news that can really affect the exchange rate of the cryptocurrency:

Positive or negative changes in the legislative sphere;

Listing the coin on the top stock exchanges;

Collaboration with a major player in the market;

The passage of a significant stage of the Road Map;

An important step in the development of blockchain technology;

Appearance in the team of reputable industry professionals.

Read the news intelligently, analyze the reading, and don’t let the fake news to lubricate an overall picture of your knowledge.

Previous materials:

Two ways of evaluation of the stock market

Trend lines, support and resistance

Entry point and exit

Diversification and deregulation portfolio

Indicators of fundamental analysis

Technical analysis indicators. Part 1

Technical analysis indicators. Part 2

Analyze this: Totem animals market

Analyze this: the pampas and Dumps

Analyze this: how to read Japanese candlesticks

Analyze this: what to watch for trading volume?


Exchange Coinbase has patented a new method of storage and application of private bitcoin keys

The Bureau on registration of patents and trademarks U.S. has published the fourth patent application cryptocurrency exchanges Coinbase.

Document filed for consideration in the spring of 2015 called «the App for key exchange security, which is part of the host computer to the cryptographic transaction.» The solution describes the method of storage and application of private bitcoin keys.

The authors of the applications listed former engineers Coinbase: James Hudon (James Hudon), who is now partnering with Uber, and Andrew Alness (Andrew Alness), now an employee of Keybase.

Recall that Coinbase recently became the first start-up billionaire in the field of cryptocurrency. The company received $ 100 million in financing for the series D.


In the state of new York created a special Commission to cryptocurrency

The Governor of the state of new York Andrew Cuomo signed a bill creating a special Commission on the issues of a cryptocurrency from the state of new York. This was reported by a member of the state Assembly Clyde Vanelo.

«New York is the financial capital of the country. We must lead the way in the regulation of Finance. A special Commission will allow us to strike a balance between sustainable blockchain/cryptomnesia and protection of the rights of investors and consumers of the state», — he stressed.

The Commission will consist of nine members, including the representatives of the sphere of developers, consumers, business and investors. The task of the new formation will be to inform the Governor and the legislature on the impact of digital currencies on the economy of the state.

We note that the Commission is obliged to issue its first report until December 15, 2020. It must contain the following information:

  • overview of blockchain industry in new York;
  • the number of traded cryptocurrencies and their market share;
  • the number of cryptocurrency exchanges operating on the territory of the state, and their average monthly trading volume;
  • type of investment firms are heavily invested in cryptocurrencies;
  • data on energy consumption by mining industry in the state;
  • information about market manipulation and criminal activity;
  • legislative and regulatory recommendations.

Earlier it became known that the owners of bitcoin exchange, Gemini brothers Winklevoss have made generous donations to the election Fund of the Governor Cuomo. And in less than a month after donating $100 thousand exchange was licensed.


The history of bitcoin

In the history of bitcoin was not peaceful times, but we are now one of the most turbulent stage. Hardly a storm around bitcoin will subside in the coming years. Since the first cryptocurrency was created ten years old, she is experiencing the UPS and downs — and this is partly why it is so attractive.

However, as we have come to this? How it all began, what developments have been precursors to bitcoin, and what are the main stages of its history? We have prepared a brief timeline that will help you quickly figure it out.

1982-1997 years

We can trace the history of bitcoin until 1982 — that’s when the scientist-scientist David Chaum first proposed the concept of electronic money. In the early 80-ies he became interested in privacy issues in the digital environment, and he published an article entitled «Blind signatures and untraceable payments» (Blind signatures for untraceable payments), where described a new cryptographic approach that allows you to create an automated payment system, in which the third party does not see the payment information.

In 1990, Chaum tried to implement his idea in practice, founded in Amsterdam the company DigiCash and trying to create a safe online currency what later became bitcoin. A brilliant academic reputation Chuma attracted both staff and investors, but the product shot, and by the end of the 90 DigiCash went bankrupt.

However, the efforts Chuma paved the way for many people with similar ideas, and in 1997, Adam Back invented hashcash system, which used proof of work is very similar to what is used in bitcoin today.


This year there were just two important cryptocurrency in the world of ideas: in the end of 1998 Wei Dai published an article that described the idea of b-money, crypto-currencies like blockchain storage mechanism for data. Here, too, was used a proof of performance in solving mathematical tasks, and the transfers were broadcast to all members of the network.

In the same year, Nick Szabo made a similar project called Bit Gold — he wanted to create a payment system which does not require participation of a trusted intermediary such as the Central Bank. The solution of the problem used in the proof of the execution of the work, gives a person the fragments of a string signature, and last portion is used to create the signature the following transaction — blockchain similar to bitcoin. However, both projects failed.


So, in the two decades before the advent of bitcoin had come and fail several projects that preceded it, and then, after a long lull, in 2008, was created bitcoin. In August of the same year, there was and two months later published an article entitled «Bitcoin: a peer-to-peer system of electronic money» (Bitcoin: A Peer-to-Peer Electronic Cash System).

The idea was the same: the use of secure digital signatures, proof of performance and the hash of the transactions to form one continuous chain. This article was written by the author or group of authors, acting under the pseudonym Satoshi Nakamoto — who was, is not known to this day.


Just a few days before the onset of 2009 was namine the first block of bitcoins, the so-called «Block creation». 9 January was officially released the first version of the program, providing the electronic currency, and on 12 January, the network hosted the first transaction Nakamoto sent 10 bitcoins known to the programmer Hal Finney.

In October 2009, the New Liberty Standard published the first exchange rate of the young cryptocurrency — then $1 was worth 1309,03 BTC. In December, Nakamoto released the second version of the software.


After the establishment of the exchange rate sooner or later someone had to try to buy bitcoins for something real, and it happened in may 2010. A programmer from Florida Hanes sent Laszlo a resident of London 10 thousand bitcoins in exchange for two pizzas worth $25.

In this transaction the bitcoin continues to be evaluated very cheaply, but the fact of the purchase has demonstrated the potential of the product and after a couple of months after that, the cost of bitcoin has finally exceeded us $0,01.

In the same year appeared first on bitcoin-exchange — in February, the Bitcoin Market, and in July Mt. Gox. In addition, in 2010, was founded the first mining pool called Slush.

By November, the market capitalization of bitcoin exceeded one million dollars. However, this year was marked by a sad event: in October, someone noticed a vulnerability in the Protocol that allows you to bypass verification of the transaction, and created 184 billion bitcoins. However, soon the deal was cancelled and the vulnerability fixed.


After reaching the threshold of one cent price of the cryptocurrency has been growing steadily, and in February 2011 achieved the following milestone: the first bitcoin equal to the dollar.

The bitcoin started to write — good and bad. So, about the digital currency first wrote TIME magazine, but in the same year on the website Gawker published an article with a detailed description of the black market Silk Road, where bitcoin was often used as a means of payment — through the discussion in the press by June, bitcoin was worth more than $30, but soon fell to $10.

In June, the exchange Mt. Gox faced a serious hacking, which has affected tens of thousands of accounts. However, bitcoin became more and more famous, and interest in bitcoin grew.

Against this background, began to gain popularity altcoins, there are other cryptocurrencies — their developers either tried to create a more perfect analogue of bitcoin, or undertaken projects in other than the first cryptocurrency tasks. In particular, in 2011, debuted Litecoin — now ranks seventh in market capitalization, a digital coin.


If 2011 turned out to be bitcoin changeable, the next was much more straightforward — in particular, in April the price of the leading digital currency, has exceeded $100.


This year the price fluctuated, but the first time I get to $1000, and bitcoin was obviously the most recognizable and successful cryptocurrency.


Then ensued a pause. In January 2014, bitcoin scurried fell below $1000 and over several years could not take the height again. There have been several important developments, in particular, the exchange Mt. Gox went bankrupt and closed, but in General it should be noted that this period bitcoin rose and fell, but never reached its former high.


It was the most important and rich in the events of the year in the biography of the first cryptocurrency — after a rough 2016, she finally again reached the mark of $1000, overcame her continued to grow and by June, was worth more than $3000.

Despite this, unhappy in the environment of the users is also enough, because the increase in the number of miners has led to the growth of commissions, as well as increase the processing period of the block, and in August there was hardwork that led to the creation of Bitcoin Cash — is now fifth by market capitalization cryptocurrency.

However, the rest of 2017 bitcoin continued to rise: by October, he had over $6000 in November nearly reached $10,000, and by the end of December reached the record of $19 783. The growth of prices were increased interest in bitcoin from companies and individuals.

Obviously, such rapid growth could not continue indefinitely.


2018 for users of bitcoin turned out to be difficult — it was especially difficult for those who were expecting further growth. People began to sell cryptocurrency and all year the price has been steadily falling. At the time of writing, the exchange rate of bitcoin is less than $4000.


Oracle wants to improve the work exclusive of the block chain

Oracle, the largest enterprise software manufacturer and supplier of server equipment, working method «fair» for the exclusive control of the block chain (blockchain permissioned). This is evidenced by a new patent application the company.

A document entitled «Accounting and trust in distributed systems registry» was filed by Oracle in may 2016. On the website of the patent and trademark office, the application was published on 17 August.

The new patent focuses on so-called exclusive blockchains. In such blockchains transaction processing is a specific list of subjects with established personalities.

Justifying the need of a patent, the Oracle draws attention to the problem with some approaches to maintain exclusive blockchains. In particular, with regard to the management activity of the network nodes.

«Even in an exclusive registries participating node may violate the policy of justice. For example, this can happen due to hacking, defective software and dishonesty of the operator. In principle, exclusive registries make it easier to attract nodes to the responsibility for violation of rules: as soon as the fact of violation will be installed, the infringer may lose the Deposit may be excluded from the register or he can be sued. In practice, however, reducing opportunities for internal abnormalities and their identification is a non-trivial problem.»

Problem behavior can include censorship of transactions, as well as «decreasing or changing the order of transactions» within the nodes. To solve these problems Oracle offers a system that uses a modified version of open-source code blockchain startup Tendermint.

«Accounting and trust» is a second patent application in the field of blockchain filed by Oracle today. Last year the company has issued a request to the blockchain app for optimizing internal business processes.


In China, the ICO published a list of the projects that were under investigation

A Chinese newspaper published a letter from the government, caught in the net in connection with the leak. It contains instructions for investigation and list of companies related to the ICO.

The published document was presumably sent on 2 September by the Chinese government in Fujian province. The message contains the instructions for carrying out investigations against companies related to ICO. It also requested reports about the ongoing ICO and stock exchange platforms.

The document includes a list of companies, released or upcoming ICO and venues for the IPOs.

  1. Fire ICOGOGO Chain Management Consulting (Beijing) Co., Ltd Beijing ZhenSheng Xu
  2. Beijing Jixing Huitong Technology Co., Ltd Beijing ZhongRong Hu
  3. Network Beijing Chain Gold Chain Gold Network Limited Beijing Fan Li
  4. International Coin Exchange Network Beijing near life Technology Co., Ltd Beijing Hui Chen
  5. National Exchange Network De Tong Beijing Tianyuan Network Technology Co., Ltd Beijing ZongJian Luo
  6. Coin RenGou Beijing think of unlimited technology companies Beijing ZiMing Wang
  7. International Coin Liaoning to the Square Technology Co., Ltd Liaoning TuJiang Tao
  8. ICOAGE Shanghai Information Technology Co., Ltd Shanghai XiaoMi Bo
  9. Investment Network Investment Network Shanghai Management Co., Ltd Shanghai Tao Zhang
  10. 91 wide ICO Shanghai Yue Network Technology Co., Ltd Shanghai Gang Chen
  11. Big Bitcoin degree Shanghai Yi Network Technology Co., Ltd Shanghai WenKe Fu
  12. Kelvin Blockchain Network Network Technology (Shanghai) Co., Ltd Shanghai RongZheng Tao
  13. ICOfox Shanghai Cable Network Technology Co., Ltd Shanghai Gang Chek
  14. Binance Shanghai than Czech Republic Network Technology Co., Ltd Shanghai GuangYing Chen
  15. Bitcoin Mine welcomed the Shanghai network Technology Co., Ltd Shanghai Liang Xia
  16. GOGOICO Jinmi Xuzhou Electronic Technology Co., Ltd Jiangsu XuDong Xu
  17. Coin Fundraiser Hangzhou time stamp Information Technology Co., Ltd. Zhejiang ZhiPeng Liu
  18. ZhongRong Financial Capital ZhongRong Zhoushan digital technology Co., Ltd. Zhejiang Lin ShaoYin
  19. People Vote Anhui love all investment management Co., Ltd. Anhui Xin Bi
  20. Good Good ICO Xiamen public wins to win Network Technology Co., Ltd. Fujian Xie Feng
  21. Coin Invest Jiangxi Star Information Technology Co., Ltd. Jiangxi Liu JingChao
  22. Blockchain Exchange Platform NanChang Digital Network Technology Co., Ltd. Jiangxi Yong He
  23. Bitcoin ICO JiNan Smart Digital Information Technology Co., Ltd. Shangdong Lin Han
  24. ICO WuHan WeiBai Generation Network Technology Co., Ltd. If Hubei Li
  25. Cloud Cloud Fund 123 Separation Network Technology (WuHan) Co., Ltd. Hubei PengCheng Pan
  26. Ico365 Chain ShenZhen All Technology Co., Ltd. Guangdong JinShui Cao
  27. All Innovation Garden ShenZhen HaiZhao Stock Financial Service Co., Ltd. Guangdong Ao Bi
  28. Euro Land Fundraiser ShenZhen City Hurricane Digital Management Co., Ltd. Guangdong Sun YongGang
  29. Square Investment ShenZhen Miao Chain Technology Co., Ltd. Guangdong Wang RuiXi
  30. Money Ku ICO ShenZhen city Bit Technology Co., Ltd. Guangdong Lin ZhiPeng
  31. Moore Coin Moore Street ShenZhen Network Technology Co., Ltd. Guangdong WeiLin Zhou
  32. 7 Treasure LiAo Network ShenZhen Network Technology Co., Ltd. Guangdong Zhang LuPing
  33. BTCD1 ShenZhen Sea Pearl City Network Technology Co., Ltd. Guangdong ZhongNian She
  34. Sea Digital Exchange Center ShenZhen City Heng Cow Technology Co., Ltd. Guangdong Mu ShiBo
  35. United Network ICO BlockChain ShenZhen HuanYu Technology Co., Ltd. Guangdong Ting Chen
  36. Coin Eight GuangZhou Chain Network Technology Co., Ltd. Guangdong XingNing Luo
  37. Three Ants Three Ants Network ShenZhen Network Technology Co., Ltd. Guangdong Meihua Li
  38. Chain Valley Chain Of Chongqing City Technology Co., Ltd. Chongqing Yang Biao
  39. Future ICO Sichuang Technology Co., Ltd. Sichuang HongRi Bai
  40. 123 ICO ChengDu Chain One Network Technology Co., Ltd. Sichuang HongHao Zhang
  41. DiLiang Gold Guizhou Digital Exchange Financial Service Co., Ltd. Guizhou XiangHui Kong
  42. Ningxia Rhino Gold Key Network Technology Co., Ltd. Ningxia Zhang JianDong
  43. Wen Blockchain Group Hong Kong BoYuan Network Technology Co., Ltd. Hong Kong
  44. eBTCbank Bitcoin International Co., Ltd. Hong Kong
  45. Baseico Blockchain technology Co., Ltd. Hong Kong
  46. ICORaise N/A Shanghai
  47. Icorace N/A Shanghai
  48. Bitcoin Treasure N/A Shanghai
  49. ICO6688 N/A Guangdong
  50. 3ico N/A Guangdong
  51. Blockchain ICO N/A China
  52. ICOINFO N/A China
  53. Icobank N/A China
  54. 17ICO N/A China
  55. Aimwise N/A China
  56. Beico N/A China
  57. People ICO N/A China
  58. Tookencapital N/A Outsourcing
  59. ALLCOIN N/A Canada
  60. Bitcoinworld N/A Unknown

We will remind that the authorities of China banned individuals and organizations to raise funds through primary placement of coins (ICO), as mentioned in the list ICO-platform ICOinfo suspended its work.


The largest Mall in South Korea will add support for bitcoin


Goto Mall became a partner in a local cryptocurrency exchange and mid-December will allow 620 stores accept payment in bitcoins.

Shopping centre in the popular area of Seoul, with a daily attendance of half a million people introduces bitcoin as means of payment. This is reported by local edition. Tourist guide Travel Vui Goto Mall called «the hidden gem», which «carries everything from clothes to flowers and home decor — for crazy low prices.»

Underground Mall located in Gangnam (the area better known to a Russian ear the English name Gangnam) and is associated with one of the main interchange stations in the Seoul metro. Also through this part of the city is about 30 bus routes, writes the Bridge Economy and calls Goto Mall «Mecca for bitcoin».

«The completion of the reconstruction of the nearby residential complex, the number of visitors will increase further,» according to Korean news outlet Kyeonggi.

Next year in the center of Gangnam, opened the World Duty-Free, which will attract, among others, and foreign buyers.

Partner Goto Mall, crypto Coin exchange, HTS opened a month ago and has already managed to develop a system of smart payments using cryptocurrency and launch a mobile app.

The Mall has already tried to introduce the payment of bitcoin, but the owners «often lost their passwords and could not use the coins,» explains Kyeonggi, noting that with the payment system HTS Coin this will not happen.

Bitcoin will serve as a means of payment along with other payment methods (cash, credit card and Alipay). CEO Goto Mall Chung, Yeon Gwi commented, «I believe the introduction of bitcoin is very important: them to Goto the Mall will be used by foreigners and young people».


Air France-KLM became a partner of blockchain startup Winding Tree

One of the world’s largest airline Air France-KLM has announced a partnership with blockchain startup Winding Tree, which hopes to reduce the number of intermediaries in the process of buying tickets and services to clients.

It is assumed that “a decentralized platform for travel” BtoB users, startups and companies will be able to access a wide range of offers in travel tailored to demand. For its part, the airline will support the technological development partner, testing the solution and giving it feedback.

Startup Winding Tree has already signed partnership agreements with Lufthansa, Eurowings, Swiss Air, Swissport, Brussels Airlines, Austrian Airlines, Air New Zealand and intends to press companies involved in the technologies of travel, among which are gianty such as Expedia, Priceline, Amadeus, Sabre and Travelport.

Recall that a year ago, building and maintenance Department (MRO) Air France-KLM began to consider applying the blockchain technology to create the first distributed registry management repair works in aircraft conditions.


Candidate to the U.S. Senate accepts donations in bitcoins

Candidate to the U.S. Senate from Missouri Austin Petersen said that accepts donations in bitcoins.

As a politician he believes that Americans should have the choice to participate in government programs or not. Peterson has long been a member of the libertarian party, and recently joined the Republicans to return the party to the ideals of personal freedom. One of the ways in which the candidate focuses on personal choice, is accepting donations in bitcoins. According to Peterson, this will allow citizens to abandon the use of the dollar, if they want.

In an interview with The Wichita Eagle, the politician said:

«Bitcoin has received a huge community. I mean, there are bitcoin millionaires. And we may use this market, because it is unlikely there will be other candidates who are better than us in this matter. I would really like to see the abolition of regulation in the field of monetary policy.»

Austin Peterson is not the first politician who accepts contributions in bitcoins. In 2016, Senator Rand Paul, a participant of the presidential race, also received donations in BTC.