Craig Wright ‘Explains’ Why You Won’t Admit He Created Bitcoin

Craig Wright has a theory about why almost nobody will capitulate to his demands to be worshiped as Satoshi Nakamoto, the creator of Bitcoin. Standing on the wrong end of a multibillion-dollar lawsuit, he believes that his persona has led to attacks on him personally, as opposed to the ideas he has presented to the […]

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Bitcoin Wallet Review: BC Vault Throws Down the Gauntlet to Trezor

The Bitcoin hardware wallet space is increasingly active, with new entrants coming up all the time. If you search “hardware wallet” on Amazon, you get dozens of options. The two most well-known companies, of course, are Ledger and Trezor. But a variety of alternatives exist. CCN received two BC Vault review units from a company […]

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Justin Sun Issues Strange Apology in Wake of Warren Buffett Debacle

Justin Sun, who is in San Francisco, made a very strange post on Chinese social media site Weibo today. Repeatedly apologizing for his recent “over-marketing,” Sun praised China’s brand of socialism. Sun Praises Socialism and Publication That Attacked Him He also praised Caixin, a publication which he had accused of libel the previous day: “Caixin […]

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Bitcoin Developers Propose Stronger, Faster Blockchain Network Via ‘Erlay’

By CCN: Bitcoin core dev Gregory Maxwell left Blockstream last January to focus on “deep protocol work,” and now he and a few other developers have surfaced with something called “Erlay.” So That’s What Greg Maxwell Has Been up To Erlay was announced over the last 24 hours in a post to the Bitcoin Core development mailing list by University of British Columbia’s Gleb Naumenko. Naumenko described it in the following terms: “The main idea is that instead of announcing every transaction to every peer, announcements are only sent directly over a small number of connections (only 8 outgoing ones).

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Amazon Creates 1,500 Jobs in Massachusetts After Spurning NYC

By CCN: As widely reported, Amazon vastly scaled back its plans to build in New York City. While they planned to bring as many as 25,000 jobs to Queens, building a large campus and even funding local public education, they’re now reportedly developing a relatively small distribution center. The center in Woodside, Queens, will provide about 2,000 new working-class jobs. Amazon Spreads the Love to Rural Massachusetts Amazon is still looking to have a headquarters in New York, but it has reportedly chosen Manhattan over Queens. These reports are unconfirmed but based on apparently reliable sources. Alexandria Occasio-Cortez and those

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Blockchain Disruption Reaches Hollywood amid Startup’s $100M Funding

By CCN: Proxicoin is a way for the ordinary blockchain investor to get a piece of Hollywood’s action. It announced that it’s gotten a $100 million injection from a Hong Kong fund. Central Wealth Fund’s David Lee said his people are “impressed” with the blockchain platform, which decentralizes funding for Hollywood movies. Other investors including Coinbase are already on board. The English-centric film market will be worth more than a trillion dollars within our lifetime. Most investors would be happy to invest in a quality film project, but access is hard. Blockchain Startup Proxicoin Works Its Magic Proxicoin’s purpose is

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Bitcoin Jesus Roger Ver Destroys Lightning Faithful Tone Vays in Debate

By CCN: Let me start by saying I’m undecided on the issue of blockchain scaling. I think both camps make valid points. The day that Bitcoin Cash launched was the logical resolution of a drawn-out war which would never have ended otherwise. Tone Vays Can’t Make Up His Mind That being said, I watched this debate between Roger Ver, one of the earliest angel investors in bitcoin, and Tone Vays, a bitcoin personality, and I felt like I was watching a professor debate a teenager. Ver may be a hyperactive personality who occasionally alludes to Bitcoin Cash as being “a

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‘GlobalCoin’: Not Everyone Thinks Facebook’s Crypto Project is a S***coin

By CCN: Zcash developer Zooko Wilcox, who has previously opined that cryptocurrencies can be used to evade taxes, posted an “unpopular opinion” to Twitter today: Facebook’s crypto project is “awesome.” Facebook Coin: “Awesome”? Unpopular opinion: I think the fact that Facebook is working on a crypocurrency is awesome. — zooko (@zooko) May 24, 2019 Facebook’s cryptocurrency project is a long way from the days of pseudonymous bitcoin or opaque Monero. Tied to the verified user accounts of more than a billion people, transactions made via Facebook will be easier to audit than anything previously seen. The company’s penchant for occasionally

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‘Bitcoin Bernie’: Mike Novogratz Calls for Radical Weath Redistribution

By CCN: These days, billionaire hedge fund titan Mike Novogratz is known more for his rabid Bitcoin pumping than his Wall Street wizardry. However, in a new CNBC interview, he channeled his inner Bernie Sanders to champion another of his passions: wealth redistribution. Novogratz, Bernie, & AOC Find Surprising Common Ground During an appearance on Squawk Box today, Novogratz commented on America’s income equality gap and declared that we need a “redistribution of wealth.” The Galaxy Digital chief believes that one way to do that is to levy taxes on Wall Street. He echoes sentiments not commonly heard these days

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Spanish Banking Fintech Launches Visa-Friendly EU Crypto Debit Card

By CCN: 2gether, based in the EU, announced today that it’s launching a Visa debit card which will enable users to convert crypto to fiat via ATM quickly. The card itself doesn’t charge a fee to make these transactions, but there is a fee involved in exchanging the crypto and whatever fees the ATM itself may charge. The card is issued by a registered money transmitter based in Spain. No Additional Fees Once, crypto users dreamed of a day when Bitcoin/Crypto ATMs would be so prevalent that they could go to any shopping establishment and quickly get some cash from

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Watch Out! $375,000 of Cryptopia’s Stolen Ether on the Move

By CCN: Whale Alert, an account which automatically and manually notes large crypto transfers for Twitter followers, stated this morning that slightly more than $250,000 of stolen Cryptopia ether moved today. $250k Parked, $125k Moved to EtherDelta 1,000 ether moved to 0x7d90b19c1022396b525c64ba70a293c3142979b7, an address which holds no other tokens. Roughly the same amount of ether previously left the wallet. The Cryptopia hacker seems unable to decide what to do with them. ⚠ ⚠ ⚠ 500 #ETH 126,218 USD) of stolen funds transferred from Cryptopia Hack to EtherDeltahttps://t.co/gM3VlOZ9EM — Whale Alert (@whale_alert) May 21, 2019 Interestingly, within the past hour at

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Scandal-Ridden Bitfinex Launches Initial Exchange Offering Platform

By CCN: Despite an ongoing investigation by the State of New York, Bitfinex is heading leaning into the current bullish market trends with its second new offering in recent months. Tokinex is an “initial exchange offering” platform the company announced early this morning US time. Bitfinex says the product has undergone significant testing and will offer “carefully curated, pre-vetted” tokens from “quality” crypto projects. ICO – STO – IEO The concept of the Initial Exchange Offering was born of the ICO boom of 2017 in the form of Binance, which created Binance Coin both as a fundraiser and a utility

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Game of Thrones Finale: The Iron Throne is Won With a Final Shock Twist

By CCN: Major spoiler alerts follow. A growing movement of Game of Thrones fans has already decided the final season should be re-made. No word on that from HBO or the show’s producers, but the final episode did happen this evening. We opened with Jon Snow defending “innocent” members of the Golden Company. They were about to die at the hands of newly minted Queen Danyeares’ primary general, Greyworm, who is shortly named the Queen’s Master of War. The entire “Jaime is alive” part of the fandom right now #GameOfThrones pic.twitter.com/ileXy8nlzV — Katie (@homewardbound83) May 20, 2019 Out With the

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John McAfee Emerges, Reportedly Says Americans Are ‘Hated Universally’

By CCN: In a new interview with Newsweek, John McAfee surfaced to discuss living abroad and what he’s learned about the global perception of Americans. After recently going dark, he told Newsweek “we’re hated universally.” According to him, the reason most American tourists don’t pick up on this fact is that they’re a source of income for the people and places they visit. America: Hated Universally “I have traveled around the world. Everybody hates America. Do they show it? No. If you’re a tourist, you’re never going to see it. Why? If you’re a tourist you are a source of

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Shell-Shocked HitBTC Users Shout ‘Fraud’ in Response to Severe KYC

By CCN: HitBTC users are being asked to provide excessive detail about the derivation of their funds, according to multiple sources. Even Bitcoin developer Luke-Jr was forced to undergo KYC in order to withdraw funds. The famous small-blocker reportedly had chosen the exchange for its perceived lack of know-your-customer compliance. High-Profile Users Get Their Issues Resolved ⚠️?Looks like @hitbtc have decided to go full scammer, and are stealing balances of users (including me).?⚠️ Probably a good idea to get anything you have there off, and take care not to use it. (And as always, keep as little on exchanges as

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Bitfinex Claims Victory as Supreme Court Gives Nod to Exchange & Tether

By CCN: The New York Supreme Court has ruled that the scope of the Attorney General’s investigation into Bitfinex and Tether Limited is too broad and needs a time limit. Bitfinex: Supreme Court Ruling a “Victory” The embattled exchange called the ruling a “victory” and insinuates that the case will end up going nowhere. Bitfinex has already admitted that as much as $850 million evaporated from its coffers while Tether Limited has publicly confessed to only partially backing the world’s oldest stablecoin. Under the order, Tether and Bitfinex can continue business as usual, but Tether Limited may not make any

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Ripple Potentially Sped Up its XRP Distribution Timeline by 21 Years: Crypto Researchers

By CCN: CoinMetrics, a firm that analyzes blockchain data for crypto investors, published a bombshell report this week which tells the story of how Ripple Labs has allegedly misrepresented its escrow system. Ripple has effectively misrepresented the amount of XRP transferred back to escrow at least twice. More importantly, the bank-friendly cryptocurrency’s escrow process diverges significantly from the way it was presented initially. Ripple Escrow System: Not Working As Advertised Ripple is supposed to take 1 billion XRP out of its fund every month, liquidate what it needs, and return the remainder to escrow. The recovered funds are supposed to

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Stellar Went Down For Whole 2 Hours with Zero Transactions. Did Anyone Care?

By CCN: Stellar, the Ripple fork founded by Jed McCaleb after disagreements with decisions at Ripple, went down for about two hours yesterday. Tim Swanson alerted Twitter to the issue, and a Stellar representative confirmed its occurrence. Experts Notice, Story Goes Viral, Stellar Goes On Defense Breaking: yesterday the Stellar network went down for about 2 hours… only those who run validators noticed it. no new transactions were added for ~2 hours. network stats:https://t.co/eSRYFPjDQi — Tim Swanson (@ofnumbers) May 16, 2019 The incident raises questions about the level of decentralization in Stellar, which uses the same “validator” network design as

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Amazon Crypto Patent Ignites Desperate Rumors of Bitcoin Integration

By CCN: For whatever reason, people believe that Amazon’s acceptance of Bitcoin or lack thereof will be a significant milestone for cryptocurrency. The company has never accepted it, which has given rise to several business models, including Purse.io and Moon’s recent browser extension. Amazon Finally Seeing the Light for DDoS Prevention Amazon has reportedly filed for a patent involving cryptographic proof-of-work, the system that underpins Bitcoin and most major cryptocurrencies. Proof-of-work is a concept invented by Adam Back as part of hashcash, primarily as a means to make it very expensive to conduct denial-of-service attacks. Amazon mentions this in the

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Coinbase Plans US Debit Card Launch, Is ‘Considering’ Margin Trading

By CCN: Coinbase CEO Brain Armstrong conducted a live YouTube AMA today from the company’s New York offices. Presumably, he’s in town for blockchain week, which brought him away from the San Francisco headquarters. Armstrong answered several questions in the session, beginning with one regarding “community trust ratings” for altcoins. Armstrong said that crypto is much like the internet: as more options emerge, better mechanisms of finding the actual high-quality projects need to come along. He pointed out that Yahoo began by manually indexing the web, but later things like PageRank started. He likened the experience to shopping and the

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‘Bitcoin Jesus’ Preaches Libertarian Gospel of Crypto & Crack Cocaine

By CCN: Roger Ver took to YouTube to read another letter from Ross Ulbricht, creator of the first darknet market using Bitcoin. The libertarian idealist used the opportunity to rail against the war on drugs. Roger Ver Reads Letter from Silk Road Founder Ross Ulbricht Roger Ver – once nicknamed “Bitcoin Jesus” for his rabid crypto evangelism –  is more recently best known as a major proponent of Bitcoin Cash, which he views as remaining more faithful to the vision of Satoshi Nakamoto than Bitcoin. Ross Ulbricht, meanwhile, is currently serving a life sentence in federal prison for his role

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ICO-Funded Decentralized Crypto Exchange Caught Plagiarizing Whitepaper

By CCN: Some on Bitcointalk have concluded that decentralized crypto exchange Localcoin is a scam because they’ve conclusively found that their whitepaper was plagiarized. This hasn’t stopped projects in the past. In a post last month, user ICOEthics raised the alarm and published his findings. Everyone Points the Finger at Each Other A Localcoin representative responded that the company had outsourced their whitepaper. The intent was to explain the derivation of the plagiarism, but it opened a new can of worms. The contractor says that the original whitepaper materials were furnished to them by Localcoin – meaning that Localcoin did

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Bitcoin Price: Social Media Indicators Suggest Bears May Be Lurking

By CCN: Augmento is an artificial intelligence platform that analyzes trends and data to “augment human decision-making.” The firm posted the results of its look into the bitcoin bear market today with an eye toward determining if crypto winter is truly over. Social Media Reveals Feelings Toward Bitcoin Augmento’s algorithm categorizes social media mentions of cryptocurrency in several ways – everything from “FOMO” (fear of missing out) to “annoyed.” The company believes that for a bull run on the order of 2017 to take place again, sentiment must reach a point of calm. They write: “First of all, we find

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Bitcoin Dev Drops Withering Assault on Craig Wright’s Satoshi Claims

By CCN: In a rare foray into editorial writing, Bitcoin developer Jameson Lopp has dismantled Craig Wright’s Satoshi claims, one by one. “How Many Wrongs Make a Wright?” should be bookmarked in the browser of any cryptocurrency enthusiast. It’s as a master list of reasons not to believe Craig Wright’s claim that he is Satoshi Nakamoto. Lopp Finally Gives a Peek At Wright Research Lopp uncharacteristically chose to publish the piece in Bitcoin Magazine, as opposed to his Medium blog. Presumably, the post is partially the result of exhaustive research conducted by Lopp. He’s been teasing the release of such

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Score! Major League Baseball Launches Crypto Collectibles Game

By CCN: A company called Lucid Sight announced its partnership with Major League Baseball last year. Now the deal is coming to fruition, with the launch of MLB Champions, a crypto collectibles game that allows you to own a digitized version of baseball cards and play with them. Did you miss @RandySaaf on @YahooFinance this morning? We got you covered! See what our CEO had to say about @MLBChampions ⚾️@MLB @MLB_PLAYERS #nft #blockchaingaming #eth #baseball #mlb #digitalcollectibles #PlayToOwn #P2O https://t.co/fxRt3GQcoP — Lucid Sight (@LucidsightInc) May 9, 2019 Genius! Digital Collectibles: Rarity Without Wear and Tear Digital collectibles are perhaps the

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BitcoinXT Blasts Bitcoin Cash Governance, Abandons Upcoming Hard Fork

By CCN.com: Bitcoin XT developers announced late yesterday that they would not be following the upcoming scheduled hard fork for Bitcoin Cash. In a somewhat lengthy post, the developers speak of their history as big block proponents and their participation in the Bitcoin Cash network. Bitcoin XT Protests Bitcoin Cash Governance They have always favored miners being able to make protocol-level decisions without the need for “forks.” Bitcoin Cash routinely hard forks as part of its development process. In most cases, such forks create no problems. But in the case of the upcoming fork, XT has decided they will no

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Binance Graciously Decides Not to Nuke the Bitcoin Blockchain

By CCN: Binance CEO Changpeng Zhao discussed the idea of potentially reorganizing the Bitcoin blockchain. In this vision, the 7,000 BTC recently stolen from the cryptocurrency exchange would be redistributed to miners in the form of fees. A coordinated effort with miners, within a specific time frame, could theoretically make it possible to empty the balances of the Binance hackers. Binance CEO: “It Wasn’t My Idea.” The idea didn’t originate with Binance or Changpeng Zhao, and CZ wants to be clear on that. It started with Bitcoin Core contributor Jeremy Rubin: @cz_binance if you reveal your private keys for the

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Is Bitcoin’s Mysterious Creator Really About to Be Unmasked?

By CCN: Let’s be real. The number of people who believe that Craig Wright is Bitcoin creator Satoshi Nakamoto can easily fit in a sparsely-populated Telegram channel. It includes Wright, Calvin Ayre, Ryan X. Charles, a few dozen BSV supporters, and an army of Twitter bots. Nevertheless, one of the boldest and most baseless claims in the history of financial technology faces a test later this week. Will The Real Satoshi Nakamoto Please Stand Up? As CCN reported earlier this morning, a US court in Florida has ordered Wright to produce documents detailing that Tulip Trust thing he keeps talking

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Tron’s Super Amazing Next-Gen Blockchain Risked Being Crashed by Single PC

By CCN: According to The Next Web and explosive data from HackerOne, a security bounty website, a single computer could have shut down the Tron network by draining the cryptocurrency network’s resources. Bytecode Attack Threatened to Bring Tron to Its Knees We could dub the vulnerability a “bytecode” attack. The method involves using a massive piece of bytecode to consume the resources on Tron’s network, effectively shutting it down for things like processing smart contract requests and even transactions. The report’s summary reads: “A single request to submit a post to /wallet/deploycontract with several megabytes of bytecode along with CPU

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LOL! US Nobel Laureate Economist Wants to ‘Shut Down’ Cryptocurrencies

By CCN.com: Nobel-Prize winning economist Joseph Stiglitz believes that cryptocurrencies need to be shut down. Demonstrating precisely zero knowledge of the concept of peer-to-peer networks, he told CNBC that he “actually we should shut down the cryptocurrencies.” Transparency Good, Bitcoin Bad Stiglitz claims he supports digital payment systems because they would help with regulation, saying: “I’ve been a great advocate of moving to an electronic payments mechanism. There are a lot of efficiencies. I think we can actually have a better-regulated economy if we had all the data in real time, knowing what people are spending.” Lack of privacy

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