Japan Bitcoin Prices Hit 300,000 Yen, Trade Volume Doubles

Bitcoin spot rates on Japanese exchanges hit 300,000 yen ($2690) Saturday as the largest trading market continues to buoy prices.


Japan Exchange Frenzy: Coincheck Sees 97% Increase

As Bitcoin breached the $2000 barrier worldwide Friday, Japan’s exchange spreads had begun widening, with asking prices exceeding $500 above the average amount quoted on resources such as Coinmarketcap.com.

Compared to an average press time rate of $2080, major exchange Coincheck currently quotes a spot rate of 260823 yen ($2344).

Japan Bitcoin Prices Hit 300,000 Yen

Fellow exchange BitFlyer registered a 97% increase in trade volumes in the 24 hours to press time Sunday. By contrast, Kraken saw USD/BTC up 21%, Bitfinex 51% and GDAX 45%.

Dotcom, Saxobank: ‘I Told You So’

Momentum in Japan has steadily increased as Bitcoin gains more of a public profile in business and media circles. Most recently, a drive focussed on mainstream availability – and hence adoption – of Bitcoin payments will see hundreds of thousands more outlets able to accept the virtual currency.

These outlets include those of major payment apps and by extension Alipay.

The Japanese exchange climate is also of interest to traders abroad as prices accelerate and opportunities for profit-taking via arbitrage become an increasingly hot topic of conversation on social media.

Taking kudos already meanwhile are those who predicted current prices when Bitcoin was worth much less.

Among those were Saxobank and Kim Dotcom, both of whom forecast a $2000 Bitcoin in 2017.

 

The banking world has also seemingly reacted to the new personality of Bitcoin, with Norwegian Skandiabanken offering cryptocurrency-denominated accounts.

Mempool Woes Continue To Haunt Users

At the same time, however, all is not well. On a technical usability level, the Bitcoin network’s backlog of unprocessed transactions means that many investors are unable to benefit from arbitrage or other trading-based options afforded by the diverse exchange market.

The mempool is hovering around all-time high levels, vastly inflated compared to even two months ago, with even significant fee rises unable to impact on waiting times.

Having briefly dropped Friday, queues are now lengthening once more, with tools such as transaction accelerators either maxed out or charging comparatively high fees to increase the probability of a speedy confirmation.

A test transaction from Bitcoinist with a fee of 120 satoshi per byte, unconfirmed for 24 hours, would currently cost $4.66 to accelerate with BTC.com.

What do you think about the differences in exchange prices for Bitcoin? Let us know in the comments below!


Images courtesy of CoinCheck, BTC.com, Wikimedia.org

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CoinDirect Runs ICO to Offer Decentralized Platform for Casino Industry

Blockchain developer Nico Ami Lee announces the opening of the CoinDirect.io – an open source platform for online gambling where bitcoins & other major cryptoassets will be sent directly from player to player eliminating the third party. 


The mission behind project is to decentralize gambling experience further by moving casinos away from managing player’s funds with help of well-established blockchain networks such as Bitcoin, Ethereum & BitShares.

Cryptocurrency became the choice for many online. However, it did not solve one of the oldest problems of online casinos – transparency of the house and high fees. Up until today online casinos try to stay transparent with a method called “Fairness Check”, but often it does not work effectively as casinos always have the power to hide crucial information from the player.

In order to prevent this from happening all casinos need to undergo regular and thorough audits. This leaves casinos dependent from the auditors and additional costs associated with such compliance increase costs in operating a gambling business.

Nico Ami Lee a co-founder of the CoinDirect.io, explains the potential of the upcoming project: “With such application platform customers can conveniently develop, run, and manage blockchain layer applications without the complexity of building and maintaining the infrastructure typically associated with developing or launching an app.

The code execution platform enables developers to build and deploy a decentralized, automatic management of funds into almost any casino application without incurring any start-up costs. Therefore we create a truly transparent and decentralized solution to heavily regulated and relatively conservative market.”

With the help of CoinDirect existing casino networks can save millions and new-players may get into the market with much less effort and costs. Main advantages of the platform:

1. Complete transparency, therefore no need of additional auditing

2. Very low gambling fees

3. Full control of funds

4. Instant transactions

5. Direct money transfers from player to player & much more.

An idea of establishing a blockchain PaaS company has been developed since 2015, and in early 2017, the legal entity of “Coin Direct Ltd.” was established. Company is headquartered in Honk-Kong and operates as a small team of 5, plus several supporting members.

Team is raising money with help of crowdfunding campaign for further platform development. Company plans to launch a Beta version in October 15th and start mass-scale marketing of the platform from 1st of January, 2018. The token presale has started on 1st of April, 2017, ends on 31st of August, company issues 6,500 tokens on Bitcoin network. These tokens are designed to be used for dividend distribution and voting on the CoinDirect platform.


Images courtesy of Coindirect.io, Shutterstock

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CORION Announces Full-Service Blockchain Platform to Build & Manage Any Business Without Volatility

CORION , a Swiss-based innovator in crypto, today announced its multifunctional blockchain platform engineered for anyone looking to enter the crypto world and launch a successful business or service.


CORION eliminates the guesswork for coin holders who typically monitor exchange rates closely in order to know when and where to use cryptocurrency.

Instead, CORION’s system features a stable price point against the USD and relies on demand-based coin emissions within the CORION community, which offers a helpful contrast to the fixed coin supply and fluctuating rates of cryptocurrencies in the current system.

Instead, CORION’s system features a stable price point against the USD and relies on demand-based coin emissions within the CORION community, which offers a helpful contrast to the fixed coin supply and fluctuating rates of cryptocurrencies in the current system.

CORION is the gateway to the crypto world aiming to boost mainstream adoption with its easy-to-use interface and arsenal of crypto features all in one place. The CORION platform and ecosystem provides and hosts secure, convenient and instant financial transactions between members using CORION’s stable means of payment, and allows them to build a secure marketplace for their business or service.

“We have envisioned CORION as a boundless network of businesses and individuals to build a worldwide decentralized network that creates an unparalleled self-supporting global system,” said Miklos Denkler, Founder of CORION. “The core of the system is the unprecedented symbiotic relationship that will interweave the economic players worldwide, providing tools and conditions to do business either within a local community or around the globe in developed or in emerging regions. The question is who will benefit from the exponential growth of the cryptocurrency users?”

“As the recent rally of Bitcoin and top 10 altcoins suggest, it has become clear that the number of cryptocurrency users will continue to grow,” said CORION’s cryptocurrency expert Zoltan Bor.

Mainstream users desperately seek a simple solution to enter the crypto world and use all of the possibilities it can offer, such as buying and selling on exchanges, transferring funds all over the world, and paying with the coins they have.

The platform is especially suitable for beginners and is engineered for enterprise with these key offerings:

  • MARKETPLACE: Engage partners and customers, and discover unbanked people worldwide as a service provider.
  • STABLE PRICE DIGITAL CURRENCY: Special automated inflation-deflation control assures the stability of CORION Coin, the payment medium of the Platform.
  • INCENTIVE-BASED DAILY REWARD SYSTEM: Users earn interest through the basic providers, without having to deposit or to pledge their coins.
  • MULTIFUNCTIONAL WALLET: Ensures the tools and backup for the players to transact in the most used cryptocurrencies as a unique payment gateway.
  • BUILT-IN P2P EXCHANGE: Theft-proof exchange starts with ETC/COR pair and enables use of the CORION Platform with FIAT and the most widespread cryptocurrencies.
  • CORION GAMIFICATION: ‘Earn and learn’ process enables users to win money as they learn how the platform works with entertaining activities and games.

CORION’s full concept and mission are detailed in the foundation’s roadmap. CORION is also providing an opportunity to support its mission with an upcoming token sale of the CORION Coin (COR) launching June 2017. For more information, please visit: http://www.corion.io.

About CORION

CORION is a Swiss-based multifunctional platform for businesses and individuals to join and build a worldwide decentralized network based on mutual benefits, simplicity, security, cost-effectiveness and speed. The Platform provides and hosts secure, convenient and instant financial transactions between the members using CORION, stable means of payment. The platform encourages users to build businesses and services on it and it is ideal for beginners and anyone looking to enter into the crypto world. For more information, visit http://www.corion.io.


Images courtesy of Corion, Shutterstock

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Bitcoin Fees Fall 34% As Bloated Mempool Deflates

Amid anger and even despair over Bitcoin’s fees, the recommended rate per transaction has quietly dipped by 34% amid a drop in mempool size.


Bitcoin Fees Fall But Delays Stretch On

From a recommended 450 satoshis per byte, figures this week have fallen to just 300 according to unnamed sources quoted by crypto angel investor Alistair Milne.

Data from 21.co meanwhile also confirms a fall in the “fastest and cheapest” transaction fee, albeit not as drastic, current figures quoting 390 satoshis per byte versus a previous 450.

Milne added the proviso that the discount was in fact volatility, a characteristic detrimental to the Bitcoin network which would be solved by Layer 2 tech, specifically the Lightning Network.

“We need Lightning ASAP,” he said in a discussion of the fee findings.

Man in the moon

Moon Fever Versus Daily Grind

Despite fees rising at a considerable rate for the past two months, transaction delays and even failures are becoming a common narrative in Bitcoin.

An influx of new users lacking knowledge about fees has likely compounded the problem, Bitcoin’s simultaneous price increases leading to a 600% surge in exchange use, Poloniex said this week.

Meanwhile, other commentators remain critical of the economic state of the network. Entrepreneur Vinny Lingham asserted Friday that Bitcoin “doesn’t make economic sense for any transaction less than $100” compared to “credit cards and PayPal.”

At the same time, however, his apparent excitement for prices continuing past $2000 per coin to hit $5000 suggests a U-turn.

In a succession of blog posts throughout the first quarter of 2017, Lingham explicitly warned against Bitcoin becoming too valuable too quickly, the effect of a bubble having an adverse effect on its economy.

Bitpay To Users: We Hear You

As Bitcoinist reported earlier this week, rising fees no longer guarantee even comparable transaction processing times to previous months. Bitcoin’s mempool was laden with hundreds of thousands of dollars’ worth of unconfirmed payments, this number, however, falling sharply Friday.

In a blog post about the mempool and transactions issue, Bitpay wrote:

The bad news is that this network traffic may produce delays of a few hours to a few days for some users and a wait time of weeks for a small number of users.

Why does it take so long!!?

“…We care about the payment frustrations BitPay merchants and purchasers are experiencing right now,” it continued, adding that it was “continuing to explore options for faster, simpler, and more affordable bitcoin payments.”

Bitpay had responded to the fee increases early, raising its minimum invoice amount from 4 cents to $1.

What do you think about Bitcoin’s drop in fees and mempool size? Let us know in the comments below!


Images courtesy of Wikimedia, QuickMeme, Pixabay

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MobileGo Becomes 2nd Biggest ICO Ever, Netting Over $26 Million

MobileGo has gathered over $26 million dollars making it the second most successful crowd sale in the cryptosphere, and the fourth in the world.

[Note: This is a sponsored article]


MobileGo Raises Over $26 Million & Counting

Initial Coin Offerings (ICOs) are changing the way projects are being crowdfunded, creating a new generation blockchain-based tokens like appcoins and assets. Although ICOs started with Mastercoin’s relatively modest sum of roughly 500,000 USD, they are now taking new proportions.

As time passes by, it seems that investors are becoming less wary when it comes to investing in blockchain-based crowdfunds. Now, it is not uncommon for ICOs to gather millions on their first day (or minutes) and that’s exactly what MobileGo, one of the largest crowdfunding campaigns in history, has done.

Kicking its ICO off with 4 million dollars on the first day, MobileGo has attracted over $26 million (or 6,800 BTC) so far, making it one of the most successful ICOs ever, second only to the DAO, and the fourth most successful crowdfunding project in the whole world. And the ICO isn’t even over yet, with five days left until the end.

Hosted by GameCredits Inc., the MobileGo ICO allows users to exchange several established cryptocurrencies like Bitcoin, Ethereum, Waves, GAME, and others in exchange for MobileGo (MGO) tokens, which will bring several benefits to its holders and help shape the environment of the GameCredit’s Moblie Store, a platform for mobile games with over 300 games by 150 different developers.

ICOs: Hype or New Paradigm?

The MobileGo ICO will not only help fund the Gamecredit’s Mobile Store marketing and branding efforts, but it will also gamify the platform through the use of Ethereum-based smart contract, allowing users to compete among themselves in a decentralized manner and to earn rewards and reputation while doing so.

The MobileGo token features some of the latest trends in the blockchain space such as dual-blockchain capabilities and a buyback program that will see the token supply decrease over time. The dual-blockchain functionality allows users to transfer tokens between the Ethereum and Waves blockchains through the use of BlockSwap technology.

However, the main aspect of these tokens are not their technical characteristics per se, but rather the function they serve within the platform. Although the GameCredit’s Mobile Store already features its own cryptocurrency, GAME, Ivica Simatovic, CEO at GameCredits Inc, explained to Bitcoinist why a second token is necessary.

GameCredits CEO Ivica Simatovic

He said:

The MobileGO token will be used to provide many important features to Gamecredits Store based on smart contracts. In this store there will be 2 tokens: 1 for processing (Gamecredits) and another for tournaments, betting, virtual market place (MGO).

Not only that, but MobileGo will also reward customers with discounts, free entrance to VIP tournaments and access to private game beta stages.

“This store will be a unique and special place for gamers where they will receive services they can not find in other places,” adds Simatovic.

Money is Pouring into Crypto

Although ICOs are not new, they are certainly one of the new crazes in the world of investment. Not only has the global cryptocurrency market cap doubled in size in May alone, millions and millions of dollars kept flowing into ICOs like MobileGo, Gnosis, Aragon,etc. with many more in the pipeline.

Although some have concerns regarding Initial Coin Offerings and the lack of regulation or guidelines, ICOs are providing new ways for entrepreneurs to get their projects off the ground, which wouldn’t be nearly as easy through banks and VC firms.

While undoubtedly uncharted territory, ICO are shaping the future of technology allowing developers to experiment with blockchain technology at will and to build decentralized and trustless applications, which were not possible before.  

What’s your take on the current ICOs trend? Share your thoughts below! 


Images courtesy of Gamecredits, Shutterstock

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Bitcoin Price is Steaming to $2000 as Traditional Investors Get Onboard

Bitcoin price has broken yet another price record, this time surpassing the $1,900 mark and dipping its toes in the mainstream market audience. Could this be a pivotal moment for cryptocurrencies?


Bitcoin Price in All-Time High Territory, Again

Bitcoin has once more broken its previous all-time high record today. Currently sitting at $1,925, over $168 Million were exchanged in the last 24 hours in the BTC/USD markets. The rally comes following the mild setback caused by the WanaCry Ransomware situation last week.

As traditional markets plummet, reaching the biggest U.S. market selloff of the year on Wednesday, Bitcoin positions itself as a safe haven asset and a hedge against general political and economical uncertainty, attracting concerned investors that are looking to diversify their portfolio.

The continuous Bitcoin rally is also connected to the new permissive stance taken by regulators throughout the world. In Japan, for example, BTC is surging in popularity due to a law that has recently passed to recognize Bitcoin as a legal form of online payment, removing the consumer tax and putting regulatory guidelines in place for Bitcoin businesses, resulting in 18 exchange applications in one month.

Not only that, but the revision of the Bitcoin ETF by the Securities and Exchange Commission (SEC) is also currently underway, giving Bitcoinists everywhere a glimpse of hope that this decision may be the one that see the COIN ETF listed on the Bats stock exchange.

Mainstream Tipping Point?

Despite Bitcoin’s position as a global, apolitical currency that is neither issued nor regulated by any government or central bank, Bitcoin is now reaching mainstream audiences with more frequency and impact than ever before.

bitcoin value

In the aftermath of the plummeting markets, CNBC has actually advised investors to consider Bitcoin as an investment stating that it “may look attractive as a sort of safe-haven trade.” The article published yesterday reads:

As stocks find a bit of relief after the market’s worst day of the year, investors may be looking for new bets in a market with growing uncertainty. Looking to international markets and finding refuge in bitcoin are two suggestions strategists are making.

In the Wednesday interview quoted in the article, Boris Schlossberg of BK Asset Management mentioned Bitcoin’s appeal as the “new gold”, highlighting the safe-haven property found in both assets.

Boris Schlossberg, who seems rather bullish about Bitcoin said that “[Bitcoin is] holding at very steady highs right now, and typically when you have a big move — whether it be any kind of instrument — generally you’re going to have some continuation.”

Price Up, But Dominance at Record Low

But if you think Bitcoin is doing well this year, then check out other crypto assets like Ethereum, Litecoin, Dash and Ripple, who have risen in value several times over during 2017, pushing the global cryptocurrency market cap to unprecedented heights.

The market cap of all the cryptocurrencies combined has grown from roughly 17 billion to 66 billion in 2017. What’s more is that it has already doubled so far in the month of May!

IThis has changed the cryptocurrency landscape completely, reducing Bitcoin’s dominance from roughly 80% in January to 48% now.

In other words, capital is pouring into cryptocurrencies and it’s not just Bitcoin!

As these assets begin to gain traction, Bitcoin could eventually lose its place as the top dog to other cryptocurrencies, despite its current advantage as the only truly battle-tested cryptocurrency with the most immutable blockchain. This is, if nothing else, a clear sign that scaling is needed in order to accommodate users that are now joining the cryptocurrency revolution.

But even so, as the fee and transaction time situation worsens for Bitcoin, its value and popularity continues to grow, revealing a desperate need for an apolitical, global and deflationary currency that citizens can trust to preserve their savings and financial freedom.

Are we entering a pivotal moment for Bitcoin and altcoins alike? Is this a bubble? Share your thoughts with us in the comment section.


Images courtesy of CryptoCompare, CoinMarketCap, Shutterstock

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Barry Silbert’s ‘Compromise’ to Scale Bitcoin Nets 80% Hashrate Support

Entrepreneur and cryptocurrency fund creator Barry Silbert has concluded the community is behind SegWit after canvassing businesses and miners.


Silbert SegWit Support Echoes Coin Dance

In a series of Twitter posts, Silbert announced he had at least 50 businesses who had “signed on” to his preferred Bitcoin scaling solution – SegWit with a block size increase to 2 megabytes within 12 months.

This was followed by almost 80% of network hashrate coming from miners who supported the solution.

Voorhees Embodies Businesses’ Network Frustration

As CEO of Digital Currency Group, the umbrella corporation controlling both the GBTC fund and the Ethereum Classic Fund, Silbert’s interest in addressing Bitcoin network slowness and expense is no secret.

Bitcoinist_Digital Currency Group Barry Silbert

While onboarding new Bitcoin users appears to be little problem, as exchanges testified earlier this week, frustration is still mounting due to the time and costs involved in confirming transactions.

Responding to Silbert, ShapeShift CEO Erik Voorhees showed ire towards those whom he considered were hindering scaling progress, specifically Core developer Eric Lombrozo.

Alleging Lombrozo was “diverting the initiative” with his own response to one of Silbert’s tweets, Voorhees expressed dismay at what he called the inability of core developers to “get behind” the move.

Lombrozo responded later that both Silbert and Voorhees were asking impossible things. “…It’s not how [Bitcoin] works,” he wrote. “You’re asking me to change the laws of physics to massage people’s egos.”

Other well-known figures in the industry openly supported Silbert’s proposal, however, including Charlie Shrem and angel investor Chandler Guo.

In a separate exchange with Luke-jr meanwhile, Silbert added he did not know who was in opposition to a hard fork block size increase.

 

Mempool Harbors $400k Unconfirmed

Data from Coin Dance meanwhile tells a slightly different story. Out of businesses tracked by the online resource, 46% “explicitly support” SegWit, with another 41% describing themselves as either “ready” or “prepared” to implement it.

Together with 6% taking a “neutral” or “no official stance” to SegWit, these statistics have remained almost identical for the last month, despite both transaction fees and confirmation times increasing during that period.

At the same time, a  glance at the Bitcoin mempool today makes for disconcerting viewing. Approximately $400,000 worth of Bitcoin transactions currently remains unconfirmed despite the higher fees paid. The average value of the unconfirmed transactions is also high, at around $2300.

What do you think about Barry Silbert’s efforts? Let us know in the comments below!


Images courtesy of Shutterstock, Twitter, Coin.dance

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Bitcoin is Still Illegal in These 6 Countries

As the Bitcoin revolution continues to spread throughout the world, there are still some places where buying or using Bitcoin is illegal and can get you in trouble.


Bitcoin Still Illegal in Some Countries

As Bitcoin’s popularity continues to grow throughout the world, some governments are beginning to realize its benefits and potential and are integrating Bitcoin and cryptocurrencies in their economy, rather than trying to punish those that use it with restrictive policies and exaggerated taxes.

Japan, for example, has recently passed a law that makes Bitcoin a legal form of online payment, removing taxes and setting up a regulatory framework for Bitcoin-based businesses. Australia has also taken a stance in favor of cryptocurrencies and removed the double-tax that was penalizing average Bitcoin users.

However, not all countries are as forward thinking especially when it comes to cryptocurrencies. Believe it or not, Bitcoin is still illegal in some countries, which says a lot about Bitcoin as a disruptive technology.

To be clear though, the world’s first decentralized cryptocurrency is not illegal because it poses any risk to the citizens of the countries we will list. Rather, it provides an alternative, open, P2P monetary system — and an exit for some  — which is seen as a threat to their centrally-controlled, legacy monetary system.

All of the countries listed below banned Bitcoin in 2014, following the Mt. Gox disaster. As Bitcoin begins to gain traction throughout the world, it’s possible that these countries may eventually change their stance on Bitcoin and digital currencies.

Vietnam

Although Bitcoin can be freely used by citizens, the State Bank of Vietnam issued a statement in February 2014 warning against the use of Bitcoin and prohibiting credit institutions to deal with the cryptocurrency.

The statement reads:

All bitcoin exchanges that allow users to trade anonymously, therefore, can be used to launder dirty money, sell drugs, hide from paying taxes, exchange and pay for illegal activities.

In December 2016, the government of Vietnam stated that it will consolidate cryptocurrency regulations as its current provisions “fall short.”

Iceland

Bitcoin’s legality in Iceland is not very clear. According to a statement issued in March 2014 by the Central Bank of Iceland, dealing with Bitcoin may violate the Icelandic Foreign Exchange Act, which specifies that Icelandic currency cannot leave the country and that foreign currency cannot be used in the country.

iceland

Bitcoin mining is legal in the country and so is transacting with Bitcoin, but apparently if those Bitcoins cannot be purchased from a foreign exchange or have to be mined in Iceland. This leaves a lot of room for questions. The statement reads:

There is no authorization to purchase foreign currency from financial institutions in Iceland or to transfer foreign currency across borders on the basis of transactions with virtual currency. For this reason alone, transactions with virtual currency are subject to restrictions in Iceland.

Bolivia

In May 2014, the country’s central bank, El Banco Central de Bolivia, officially banned any and all currencies not issued and/or regulated by the government, specifying Bitcoin, a few other altcoins and any other currencies that do not belong to a state or economic zone.

The statement reads:

It is illegal to use any kind of currency that is not issued and controlled by a government or an authorized entity.

Ecuador

Ecuador not only banned Bitcoin and all other cryptocurrencies, but it did so while establishing guidelines for the creation of their own virtual currency.

The National Assembly of Ecuador passed a bill that amends the country’s monetary laws in July 2014, banning cryptocurrencies and allowing the government to issue and transact in its asset-backed “electronic money.”

Kyrgyzstan

In Kyrgyzstan, using Bitcoin as a form of payment is illegal, although no law prohibits users from buying, selling and using. In August 2014, the National Bank of the Kyrgyz Republic, issued a statement in which it noted that the use of Bitcoin and other cryptos as a form of payment is illegal given that the only legal tender in the country is the country’s Kyrgystani Som (KGS).

The statement reads:

Under the legislation of the Kyrgyz Republic, the sole legal tender on the territory of our country is the national currency of Kyrgyzstan som. The use of ‘virtual currency’, bitcoins, in particular, as a means of payment in the Kyrgyz Republic, will be a violation of the law of our state.

Bangladesh

Bitcoin is not legal in Bangladesh. Transacting with any type of decentralized cryptocurrency can get you up to 12 years in jail and it has been so for almost three years.

In September 2014, the Bangladesh Bank issued a statement regarding the use of Bitcoin and warning that it is punishable by law. Bank officials said that anyone found guilty of dealing with Bitcoin or any other cryptocurrency could be jailed for up to 12 years under current anti-money laundering laws. The central bank went as far as to request citizens not to “spread information about it.”

The statement reads:

Bitcoin is not a legal tender of any country. Any transaction through bitcoin or any other cryptocurrency is a punishable offense.

Do you believe these countries will change their stance on Bitcoin and build a regulatory framework around it? Let us know in the comments.


Images courtesy of Shutterstock

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ICO Announced for BitCAD, Encrypted Smart-Platform with Decentralized Trade Engine

Russian Blockchain startup BitCAD has recently announced the launch of its encrypted smart platform and decentralized trade engine. The new, unified operating system aims to maximize businesses efficiency by integrating various business processes on a single platform.


The platform’s design focuses on benefiting a diverse array of business processes and is capable of managing currencies, digital assets, smart contracts and DAO’s. BitCAD also offers a mobile application for convenience sake. BitCAD’s month-long ICO began on May 4th, 2017.

The encrypted smart-platform channels various business processes through ‘Tectum,’ the company’s decentralized trade engine. The Tectum trade engine, employs multiple API integrations, to interface with the banking systems, insurance, trade platforms, exchanges, CRM systems, taxation, governance, and customs, through a single application for businesses on the blockchain.

BitCAD’s decentralized governance model and multi-stakeholder approach allow for community-based, consensus-driven policy making. The model’s purpose is to guarantee compliance with all business conditions without restrictions and to be available to all levels of users. It could potentially change, or even remove the need for financial intermediaries by implementing smart contracts to minimize the time and resources required for decision-making and execution processes.

The BitCAD smart-platform utilizes contract templates to enable the control of total lifecycle of ‘smart’ legal contracts, which aims to create a trustworthy and reliable relationship between two counterparties. BitCAD’s smart contracts also offer automated contract execution, dispute resolution, and arbitration services. BitCAD’s dispute resolution center uses a three-stage automated process that involves electronic and story based arbitration or an independently hired, impartial employee, to resolve problems and complaints on decisions, actions or omissions of BitCAD and the organization’s management. Issues revolving around the improper treatment of the participant communities from employees, board or representatives are also resolved by the impartial Their neutral arbitrators.

BitCAD and the Smart Oracles

Smart Oracles exist on the BitCAD infrastructure, to provide a flexible way to implement smart contracts, which encode business logic, laws, and other agreed-upon rules.

These Smart Oracles enable the use of smart contracts with information about the state of the outside world and combine information gathering with contract code execution.

Within this system, rules can be written in any programming language and contracts can interact with any service that accepts cryptographically signed commands. This relates to cryptocurrency networks but can also be translated to other networks.

Biometric Verification

The company also provides an all-in-one mobile application for all business processes. The app utilizes Biometric Verification system, through the use of fingerprint or facial recognition. This new system scans the user’s fingerprints and facial features for identity verification. The blockchain-based application is capable of translating international languages, for users to create and finalize deals and agreements automatically. This also makes the ICO process more transparent, in a bid to increase confidence among investors.

ICO Crowdsale

The total number of available bitcad (BCD) tokens is 100,000,000, out of which the platform has assigned 51% for the upcoming crowdsale. Another 20 percent will be distributed among the founders, early backers, and the development team. Out of the remaining tokens, 2 percent will be allocated for post-ICO bounties, and the rest 27 percent of BCD will go towards marketing, promotional activities, community initiatives and more.

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Bitcoin IRA Celebrates One-Year Anniversary as Bitcoin Price Rallies up by 300%

Standout retirement investment company Bitcoin IRA announced its one-year anniversary last week. The Blockchain-based company is the only retirement fund in the market that offer members a Bitcoin-funded retirement program. In the company’s first year, it has received coverage on some of the leading publications like the Wall Street Journal, Barrons, Investopedia, and others.


More recently Bitcoin IRA has expanded its individual retirement account to support investments in the form of the second largest cryptocurrency, Ethereum. All Bitcoin IRA clients can now avail the new Ethereum IRA.

Bitcoin IRA is the first and only company to offer cryptocurrency-based IRAs for investors, allowing them to hold actual cryptocurrencies in a retirement account. One significant advantage the Bitcoin and Ethereum IRAs hold over traditional ETFs, and investment plans is the freedom for the clients/investors to retain their investment in cryptocurrency, which they own even after the end of tenure.  Once their IRA attains maturity, investors in Bitcoin IRA and Ethereum IRA can use the accumulated cryptocurrency in whichever way they deem fit.

Through a combination of Bitcoin’s upward price trend and Bitcoin IRA’s innovative services, the company now retains a very high customer satisfaction rating. As of this week, Bitcoin has seen a 300% increase in value in the last 12 months.

Bitcoin IRA’s most recent development is the Ethereum IRA fund, in which clients can invest the cryptocurrency Ethereum. It is starting to see an increased interest, possibly attributed to a price increase and mainstream interest from the banking sector. Bitcoin IRA is now in the process of evaluating further cryptocurrencies on its proprietary SDIRA platform along with the addition of new features, driven by an ever-increasing demand from existing stakeholders and clients.

With the addition of Ethereum and potentially more cryptocurrencies in the near future, Bitcoin IRA expects its customer base to expand further. Bitcoin IRA’s platform will continue to work with leading fintech professionals to aim to bring more cryptocurrencies to their secure, blockchain-based investment funds.


Images courtesy of Bitcoin PR Buzz

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