It seems like ShapeShift has done exactly as its name suggests, changing form almost beyond recognition. Founder, CEO, and no fan of the SEC, Erik Voorhees’ exchange once existed without accounts. Now they have full KYC and hand over customer data upon request. ShapeShift Shocked Crypto World With KYC In what can only be described as a seismic shift in ethos, ShapeShift started implementing KYC in September 2018. They first sugarcoated it as a “membership program,” for which users would have to provide “basic personal details.” This would allow the exchange…
Read MoreDay: January 18, 2019
Bitcoin Mining Getting More Decentralized As Bitmain Loses Dominance
Bitcoin mining has become so decentralized that six transaction confirmations now provide “complete protection” against double spending. Data: Mining Monopolies Dwindling That was the conclusion drawn among social media commentators analyzing the latest statistics about the Bitcoin mining industry, which as of January 16 showed no single pool controlling more than 11.4 percent of the total hashrate. “The mining distribution is almost such that the miner’s share is no more than 10%, and, accordingly, 6 network confirmations provide complete protection against a double spend attack,” officials at Bitcoin monitoring resource…
Read MoreThailand Stock Exchange Considering Gov’t License to Trade Bitcoins
The Stock Exchange of Thailand (SET) could become the latest entity to obtain a cryptocurrency trading license in the country. This news comes as the bourse is reportedly mulling to become a licensed digital asset trading platform. SET Eyes Digital Asset License to Trade Cryptocurrency According to the Bangkok Post, the SET plans to apply to the Thai Finance Ministry, to obtain a digital asset operating license. If granted, the stock exchange could establish its cryptocurrency trading platform. Reports indicate that the bourse is looking at beginning crypto exchange operations before…
Read MoreThousands of US Grocery Stores to Sell Bitcoin At Coinstar Kiosks
A U.S. Bitcoin ATM company has teamed up with international coin counter Coinstar to offer Bitcoin purchasing facilities in “thousands” of new locations. More Bitcoin For Cash Washington-based Coinme, which has operated Bitcoin ATMs since 2014, confirmed the deal via a press release January 17. The exact extent of the rollout remains undisclosed, but executives referenced “thousands” of U.S. locations currently served by Coinstar, which allows consumers to count loose change. Coinstar itself lists 20,000 ‘kiosks.’ “We’re excited to team up with Coinstar to give consumers a convenient and easy…
Read MoreMove Over Bitcoin, Criminals Using V-Bucks in Fortnite to Launder Money
Enough already of the tired old rhetoric that Bitcoin is the first choice of criminals for money laundering. Criminals will use any means available, including Fortnite’s V-Bucks, according to a new investigation by The Independent. Free Game, Expensive Outfits The Fortnite Battle Royale game has become an online phenomenon, largely because it is multi-platform and free-to-play. But in-game items, such as skins, must be paid for using the in-game currency V-Bucks. With 1000 V-Bucks costing around $10, there is a ready market for discounted coins, and this is where the…
Read MoreStock Exchange of Thailand Unveils Plan to Enter the Crypto Space
The Stock Exchange of Thailand is reportedly planning to launch a cryptocurrency exchange. The securities companies that are members of the exchange will also apply for cryptocurrency broker-dealer licenses with the country’s regulator. Thailand currently has three licensed crypto exchanges. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations SET Planning to Enter the Crypto Space The Stock Exchange of Thailand (SET), the country’s national stock exchange, is reportedly planning to operate a cryptocurrency exchange that is separate from the stock exchange. Pakorn Peetathawatchai Dr. Pakorn Peetathawatchai,…
Read MoreMining Closures Reveal Recurring Bitcoin Bear Market Trend
Another bitcoin miner this week shut down its operations, though the news didn’t come as much of a shock. The latest closure, of U.S.-based Giga Watt which went bankrupt last year, follows a trend among large mining operations that stretches back years. Also read: No Reason to ‘Bury’ Cryptocurrencies, Russian PM Medvedev Says Bankruptcy to Closure After declaring bankruptcy last year, Giga Watt, which launched in 2017, announced in a Telegram message that it would be ceasing all operations. “As was reported in November of 2018, Giga Watt voluntarily filed…
Read More18 Months Away? Latest Lightning Network Study Calls System a ‘Small Central Clique’
The Lightning Network has been touted as the solution to the Bitcoin Core (BTC) network’s scalability problem for years now. Over the last few months, the Lightning Network has shown growth but there are still significant concerns about centralization, routing issues, and creating a usable mainstream-friendly interface. The ongoing joke that the network is “18 months away” continues, and on Wednesday researchers published a topological analysis of the network which highlights how the project is “structurally weak against rational adversaries.” Also Read: Embracing Utility in 2019: Unreliable Crypto Networks Will…
Read MoreBitcoin Node Count Stabilizes – Back Up Over 10K in Past 3 Months
The Bitcoin network continues to rebound from recent activity slumps, its total node count reaching 65,000 with reachable nodes totalling over 10,000. Technical ‘BUIDLout’ Continues Data from Earn.com (formerly 21.co) and Bitcoin developer Luke-jr’s own monitoring resource confirm the growth, which has lately centered on Germany, now contributing almost 19 percent of nodes. Specifically, there were 64,768 Bitcoin Core nodes at press time January 16, equating to 99.02 percent of the total. In terms of distribution, 2490 reachable nodes were in the US, followed by 1927 in Germany. France, the…
Read More