Today in Bitcoin News Podcast (2017-11-01) – 2X Corporate Takeover, Futures, Mainstream, Birthday

[youtube]Donate Bitcoin: 1NX6ijFGErktMGNYUHayD5iHDcZSFHdAwe Be a Patreon: Listen to WCN Audio Podcasts: $6,386.24USD / BTC | Winkdex,bitfinex,bitstamp,gemini,itbit&range=1D Is Bitcoin Facing A Corporate Takeover Via The ‘2x’ Fork? A Developer And A Business Leader Debate No More Asics.png (960×540)file:///Users/thunt/Downloads/No%20More%20Asics.png SEC Alleges Day Trader Used Bitcoin to Hide Fraud Profits – CoinDesk Bitcoin Moves Toward Mainstream, Poised to Join Oil, Gold in Futures Trading – WSJ Bitcoin CME futures approval sparks fears of financial crisis repeaet Bitcoin Turns 9 and Already, it Has Evolved into a Global Currency Follow WCN on Twitter: Thomas Hunt (Twitter) Tone Vays (Twitter) Jimmy Song (Twitter) Watch more at Source>>> Today in Bitcoin News Podcast (2017-11-01) – 2X Corporate Takeover, Futures, Mainstream, Birthday

Thoughts on the State of Cryptocurrency and Blockchains

When I first started reading about Bitcoin in 2011, I approached it as an interesting experiment that could increase economic freedom and give billions of unbanked access to basic financial services and the global economy.I observed small and growing demand for a digital currency with Bitcoin’s properties, and believed any barriers to adoption would come from the supply side, software failures or government bans on using the technology.I’m still hopeful that cryptocurrencies will have a net positive impact, but I find myself increasingly worried about what widespread adoption might mean for society.Bitcoin is becoming the Internet of MoneyWe can now transfer value across the internet nearly as easily as we send emails. Citizens in Venezuela and Zimbabwe are mining and purchasing Bitcoin to survive rapid hyperinflation. In Switzerland’s cryptovalley, rent and utilities can be paid in Bitcoin. The Swiss national rail service is selling Bitcoin at 1000 ticket kiosks across the country. MIT is issuing digital diplomas on Bitcoin’s blockchain.Issues around scalability, lack of global internet access, and the ease of purchasing cryptocurrency are all being addressed. Second layer protocols like the Lightning Network will improve scalability while enabling micropayments, advanced smart contracts, and cross-blockchain atomic swaps.Google, Facebook, SpaceX, and various mesh networks are on track to provide global internet access within a decade. Coinbase and ATMs make buying Bitcoin simple.I believe Bitcoin will be the most widely used blockchain for at least another 3-5 years, while Ethereum will hold the number two spot for a similar time period.The Decentralized Web is ComingThere is a growing appetite for alternatives to monopolists such as Facebook and Twitter, where users and their data are products to be sold to the paying customers, advertising companies.I am looking for a decentralized / cryptographic alternative to Twitter. Twitter’s freedom of expression has been on an inexorable decline. It is enslaved to its US jurisdiction and politics. Although it is substantially better than Facebook that is a very low standard indeed. — @julianassangePlatforms like Steemit, Yours, Y’alls, Akasha, Leeroy and Cent are templates for what alternatives to Facebook, Twitter, Reddit, and Quora might look like. Civil and the Decentralized News Network aim to establish sources for independent journalism that prioritize quality fact checking and informing the average citizen over partisan propaganda designed to generate revenue. On these decentralized platforms, monetary value flows towards users providing content, not parasitic and often intrusive advertisers.See the following pieces for optimistic and pessimistic takes on the potential of decentralized social networks.Decentralized social media is peer-to-peering into the futureDecentralized Social Networks Sound Great. Too Bad They’ll Never WorkBlockStack is building infrastructure to enable a more decentralized web, and IPFS is developing a peer-to-peer hypermedia protocol, an alternative to HTTP that doesn’t rely on servers.Legacy Institutions are Preparing for a World Run on BlockchainsNot so long ago, some experts argued that personal computers would never be adopted, and that tablets would only be used as expensive coffee trays. So I think it may not be wise to dismiss virtual currencies. — Christine Lagarde International Monetary Fund (IMF) Managing DirectorThe Bank For International Settlements (BIS)(responsible for …

Plus…Thoughts on the State of Cryptocurrency and Blockchains

Bitcoin Price Recovers After Hard Fork’s Fall While Bitcoin Gold is Trading at $120

Just three days back, the second fork in the Bitcoin Network was activated, giving rise to another derivative cryptocurrency named Bitcoin Gold (BTG). However, after the hard fork was initiated, Bitcoin Gold has undergone quite a bumpy ride. Initially, the BTG website faced serious DDoS attacks which pulled down the website operations for several hours later. Soon after the hard fork was initiated on Tuesday, the price of Bitcoin was around $5300. Within 24 hours Bitcoin prices showed a strong momentum recovering to $5700 and above and now shows a price of $5861.00 per coin, according to the CoinMarketCap Bitcoin Price Index. However, during the same time, the price of Bitcoin Gold (BTG) plunged by nearly a whopping 75% from $528 to $127 and is now trading at $122.68 level. This is really surprising considering the fact that no exchanges have enabled deposits. The Bitcoin Gold was created in order to offer competing rewards in the mining process thereby requiring affordable computing infrastructure as opposed to Bitcoins more expensive one. Moreover, just like in the case of Bitcoin Cash (BCH), the Bitcoin Gold will also be made available to everyone holding Bitcoin at the time of fork. A few exchanges like Bitfinex, HitBTC and YoBit have already allowed users to start trading in Bitcoin Gold. In the major sell-off of Bitcoin Gold, exchanges Bitfinex and HitBTC contributed to maximum trading volumes. Expert Views on Bitcoin Gold Several independent analysts and financial institutions over the period of time have expressed mixed views over the split process. While some have stayed positive about it other believe that the split process poses a huge risk causing a large amount of confusion and uncertainty within investors. Sol Lederer, blockchain director at Loomia, told CNBC: “These forks are very bad for bitcoin. Saturating the market with different versions of bitcoin is confusing to users, and discredits the claim that there are a limited number of bitcoins — since you can always fork it and double the supply.” While on the other hand Bob Summerwill, chief blockchain developer at Sweetbridge, believes that splitting is a good thing allowing people to part ways having a contradictory view. In a word to Business Insider, Bob said: “Splits happen periodically in all open-source communities. Having everyone collaborating in a single project is ideal, but sometimes there are genuine differences of opinion, and network effects are not enough to keep everybody together, so a group secedes.” At this point of time, it will be too early to predict where the prices for Bitcoin Gold are heading. However, one thing is sure that the developer and technical behind Bitcoin Gold will have to have to overcome the underlying issues of transactions complications and other. It will be only then when they will be able to create trust within the investors to welcome to the BTG platform. The post Bitcoin Price Recovers After Hard Fork’s Fall While Bitcoin Gold is Trading at $120 appeared first on CoinSpeaker. Source>>> Bitcoin Price Recovers After Hard Fork’s Fall While Bitcoin Gold is …

Plus…Bitcoin Price Recovers After Hard Fork’s Fall While Bitcoin Gold is Trading at $120

Coinbase Offers $50,000 Hack the World Bug Bounty

Coinbase, one of the world’s largest cryptocurrency exchanges, announced it will actively participate in Hackerone’s “Hack the World” project, offering 50,000 USD for a first-place remote code execution. It’s the company’s effort to extend its bug bounty program in hopes of remaining “top-of-[the]-market” with regard to security. Also read: Coinbase Plans to Call the Fork With the Most Accumulated Difficulty “Bitcoin” “Coinbase Loves Bug Bounties” Bug bounties are an increasingly used initiative by businesses to find code issues and security problems through incentivized hacking. Bounty payouts reward hackers to expose companies to problems before potential bad-actors might. Head of Security for Coinbase, Philip Martin, blogged, “We’re thankful to all the security researchers who have worked hard to find and report vulnerabilities.” Instead of researchers “facing a choice between using a vulnerability themselves,” he urged, “selling a vulnerability to 3rd parties or giving a vulnerability away for free, bounties present a good, legal, risk-adjusted return for the time invested by a researcher.” To date, Coinbase has disclosed 73 discovered vulnerabilities. Mr. Martin emphasized bounties “de-criminalize the actions of good-faith security researchers, while still forbidding malicious hacking.” Though most proposals are not relevant, Coinbase finds value in bug bounties.Over five years, the exchange has “paid out $176,031 in bounties to 223 researchers across 346 valid reports out of a total of 3101 reports submitted,” Mr. Martin noted. This year, Coinbase joins a competition hosted by Hackerone, Hack the World. An unsigned blog post stated the venture’s goals as “to help build stronger relationships between our hackers and our customers, reward high signal and high impact reports, and to have some fun along the way by giving out some awesome prizes to our top hackers.” Sponsors range from Uber, Github, and Airbnb, to Mapbox and Dropbox. Coinbase is offering “the top 3 most impactful bugs submitted, as part of Hack The World, an additional $10,000, $7,500 and $5,000,” he explained. “‘Most Impactful’ will be judged by the Coinbase security team on a combination of bug severity, system criticality and report quality.” The company’s Hack the World payouts are ranked as “Remote Code Execution: $50,000; Significant manipulation of account balance: $10,000; XSS/CSRF/Clickjacking affecting sensitive actions: $7,500; Theft of privileged information: $5,000; Partial authentication bypass: $3,000” respectively, among other lesser tasks. Bitcoin, Safe and Easy This does not mean storing bitcoin on the exchange is safe. In fact, “there have been months when Coinbase users have been robbed as often as 30 times—a rate of one robbery every single day,” according to Fortune. CEO Brian Armstrong tells Ms. Wieczner, “We need to be held to a higher standard because digital currency is so new and interesting and powerful that it is attractive to a lot of people out there to try to steal it.” The exchange holds users’ keys, allowing them ease of access to trading through mere passwords. Thefts are generally on the customer side, exploiting weaknesses at mobile phone carrier companies such as Sprint and Verizon. Hack The World competition formally ends on November 18. …

Plus…Coinbase Offers $50,000 Hack the World Bug Bounty

Bitcoin Price Analysis — The trend is still your friend

After a strong rejection at US$6200, the Bitcoin price is up 11% from the week’s lows, now with a market capitalization of just under US$100 billion. As the age of the Bitcoin fork is being thrust upon us all, with Bitcoin Cash, Bitcoin Gold, and on November 16th,SegWit2x, the fundamentals surrounding these forks are murky at best and a disaster at worst. Source>>> Bitcoin Price Analysis — The trend is still your friend

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