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Members of the Bitcoin community are always looking for ways to buy and sell products in exchange for bitcoins. Fortunately, several sites make that possible by offering secure and safe platforms for sellers and automatic escrow protection for buyers who bid to purchase their desired items on sale.

The following auction solutions have gotten a lot of attention over the past couple of years:

OPENBAZAAR

Best Bitcoin Auction Sites

OpenBazaar is a top Bitcoin auction site for everyone looking to purchase or sell all sorts of items in one place. Although it is believed to be a normal shop on the internet, it does offer some auction functions as well. There is no limit as to what items can be sold on the platform. Also, OpenBazaar’s peer-to-peer nature means there is no company or middleman that can remove or block listings, charge fees, or hold money. By accepting bitcoin payments, sellers are opening up to their offering to the rest of the world.

BITIFY

Best Bitcoin Auction Sites

Another Bitcoin trading platform. Bitify was launched in September 2013 and was first known as CrptoThift. It uses an auction system to sell items. It also offers escrow services to the buyers. The buyers have an option to use the escrow service for 1% fee. This means that Bitify acts as a guardian over the customer funds until the transaction is fully settled. You can browse numerous posted items for sales such as E-gift cards, software installers, online gaming accounts and more. Although, it offers more of digital items rather than physical goods.

GLYDE

Best Bitcoin Auction Sites

This platform has been around the longest and sells items super-fast. Buyers can find reasonable deals on electronic items and much more, whereas sellers can benefit from selling their unwanted products. There have been thousands of feedbacks on this platform and have been nothing but positive. So, make sure to drop by this site if you’re ever looking to sell any items. Glyde provides insurance on every package, so in the rare event an item is lost in the mail you will still be compensated for the sale. It is the best bitcoin trading platform to buy and sell with bitcoins.

To help build and enhance your reputation, opt for websites having built-in feedback systems. Also, make deals with already established buyers where you send them the item first and then wait for them to send bitcoins after receiving the goods.

Best Bitcoin Auction Sites

REMEMBER! Your buyer should have an established reputation so you don’t suffer a loss. There could be cases where you send the item to the buyer and they never send the payment.

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Why South Korea Is Considering to Legalize ICOs

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The Korea Times has recently reported that local financial authorities are planning to legalize ICO (Initial Coin Offering) soon. An anonymous source has told The Korean Times:

“The financial authorities have been talking to the country’s tax agency, justice ministry and other relevant government offices about a plan to allow ICOs in Korea when certain conditions are met”

initial coin offerings

What’s the reason behind ICOs legalization?

Few South Korean mainstream media outlets have revealed that “Kakao” is concentrating on assimilating cryptocurrencies for its 100 million users. Kakao is basically the largest internet firm of South Korea, and there’ve been many reports that it’s planning to integrate cryptocurrencies on its each and every application, which will let the users to utilize KakaoPay for both sending and receiving cryptocurrencies.

Kakao is also planning to conduct an ICO and issue its own token. However, it’s been also reported that due to the present regulations on local ICOs, Kakao is preparing to conduct its ICO outside of the country, South Korea. If ICO of Kakao is conducted somewhere else, it may lead to an extensive loss for the economy of South Korea, particularly in the Blockchain sector.

It’s expected that the government of South Korean is on its way to legalize ICOs in order to prevent the leading conglomerates of South Korea from leaving the country to conduct ICOs, as it might also have a bad impact on the cryptocurrency industry as well as local Blockchain sector.

Apprehension about ICO protection 

Financial Services Commission chairman, Choi Jong-Ku has recently shown his concerns to the local ICOs, mentioning that high risks are involved for investors inside the crypto-market.

However, even with the concern of investor’s protection by the FSC, there are still many sources inside the government that explain how local financial authorities are trying to allow local ICOs by enabling strict AML (Anti-Money Laundering), KYC (Know Your Customer), and taxation policy for investors.

 

Is South Korea and U.S. SEC on the same line?

The government of South Korea is willing to let companies conduct ICOs on condition that the token sales are registered with the government, which is on the other hand similar to the stance of the U.S. SEC Securities and Exchange Commission.

At this time, the South Korean government is on the same line with the U.S. SEC and is ready to allow only those ICOs that are registered with local financial authorities. Kang Young-soo (FSC cryptocurrency trading policies director) has confirmed that there are rumours about the legalization of ICOs, as he stated:

“There are many speculating about the possibility of allowing ICOs. The FSC has acknowledged a third-party view regarding the issue, but there’s nothing that we can say officially at the moment.”

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Monero Security – 3 Main Techniques Behind Monero Anonymity Explained

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Along with being accessible through networks such as Tor and I2P, Monero implements various cryptography techniques to unlock an extensive level of security and privacy:

1. Untraceable Stealth Address

As we all know, reusing the same address for bitcoin transactions is a common privacy issue of Bitcoin. Receiving or sending multiple transactions to the same address can allow anyone who knows your address to track its activity. Thus, bitcoin is not a tool that should be used on the darknet, especially for privacy purposes.

On the other hand, Monero has no such privacy concerns. Monero’s blockchain is secured in such a way that only the sender and receiver are able to identify the destination address. Only a unique cryptographic hash is provided, to each and every transaction that can be decoded by just the send or receiver to disclose the real address. These encrypted addresses are called “stealth addresses.”

Related: Bitcoin’s current price

2. Unique Separated Transaction Units

When you send XMR to any address, it arrives as several separate payment units. Basically, each unit would appear on the Monero blockchain as being transferred to its appointed and distinct stealth address. This process is applied to the sender as well as the miners when any fees are paid to them. This makes tracking of any transactions far more complicated.

3. Undetectable Ring Signature Payments

Ring Signatures is another technique that adds up to the cryptographic system behind Monero’s blockchain.

Just to be clear, similar to Bitcoin, Monero also consists of a public and private key in order to engage in buying or selling of XMR.

For example, if you are to send 18 XMR to a shop, the XMR get sub-divided into 10,5 and 3 XMR streams, these flow into distinct Monero addresses of the ship.  The private key that authorizes any 10, 5 and 3 streams sent across the network, becomes a possible signatory to the transaction. The number of possible signatories is dependent on the “mixing depth” you set. As your transaction splits into units, ring signatures guarantee that transactions can’t be stalked back to any system’s IP address.

In the end, it’s almost impossible to track or identify Monero users

These 3 techniques provide maximum privacy and prevention from roaming trackers. Monero’s code ensures the anonymity of every user and leaves barely any possibility of a linkage to take place.

Related: Read more about Altcoins

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Jay Clayton Believes ‘All ICOs Are Not Fraudulent’

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According to the chairman of the US SEC (Securities and Exchange Commission), Jay Clayton, ‘all ICOs (Initial Coin Offerings) are not fraudulent’. These remarks were made by Clayton, on 5th April, during a speech at Princeton University. Clayton also added that stamping out fraud in the cryptocurrency market is perilous to protect customers. As well as, the improved regulatory analysis will essentially benefit the industry by removing fraudsters from it and con artists who give the whole place a bad name. Since there’ve been many ICO fraud cases before, the remarks of Clayton became viral.

SEC Investigation

Jay Clayton’s Remarks

Clayton said:

“Is the approach taken in Washington by the SEC adversely affecting distributed ledger technology in other areas? My hope is that it’s actually helping because this technology is being used for fraud… And to the extent that it’s being used for fraud, history shows that government comes down harshly on that technology later.”

He also added:

“If we don’t stop the fraudsters, there is a serious risk that the regulatory pendulum – the regulatory actions – will be so severe that they will restrict the capacity of this new security.”

Clayton signalled about SEC investigations, in February 2018, that his agency would be investigating cryptocurrencies and at that time, he said:

“I believe every ICO I’ve seen is a security.”

However, a few weeks later, ICOs were again targeted by the SEC as it issued dozens of subpoenas to the tech-companies related to cryptocurrencies, and counsellors to explore how ICOs are organized.

ICOs Ceased for Scam

Fraud charges were filed against the co-founders of Centra Tech, Robert Farkas and Sohrab Sharma on April 2, by the Securities and Exchange Commission. Centra tech co-founders were accused of raising $32 million by vending unregistered securities throughout the Centra ICO, as it was promoted by Floyd Mayweather (boxing champ) and DJ Khaled (record producer).

According to public documents, the SEC is now looking forward to two bitcoin exchange-traded funds for listing on the NYSE Arca, which is the first “all-electronic” exchange in the US. The name of these two-bitcoin exchange-traded funds are:

  • The ProShares Bitcoin ETF
  • The ProShares Short Bitcoin ETF

 

SEC to Allow Cryptocurrency ETFs

Cboe president, Chris Concannon advised the agency to permit crypto ETFs and soon after that, the SEC consideration of bitcoin ETFs showed up. In a letter, that was sent to the SEC, on23rd March, Concannon sacked criticism that virtual currencies are extremely volatile to be treated like other dependable commodities.

Concannon wrote in the letter:

“Because of its innovative features as a digital asset, bitcoin has gained wide acceptance as a secure means of exchange in the commercial marketplace and has generated significant interest among investors.”

Concannon also added that there is sufficient reliable price info from the bitcoin futures market on CME and Cboe Futures Exchange that must alleviate the regulatory uncertainties about its impenetrability as an asset-tool.

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An Important Announcement By Global ICO Accelerator Program

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Iconiq Lab, based in Germany, is a global token sale accelerator and initial coin offering program. According to a recent announcement by Iconiq Lab, it has decided to launch two new branches in the US and Asia. This announcement was made public by Patrick Lowry, CEO of Iconiq Lab. The US branch is expected to be launched in New York in May, while the Singapore branch will be launched in July 2018.with the first batch scheduled to begin in Nov. 2018.

When asked about the reason for that launch, Patrick Lowry stated that due to the terrific success rate of German accelerator program and the unexpected feedback from the target community are the main reasons behind that launch.

accelerator program

Why was Iconic Lab launched?

Reason behind the launch of Iconiq Lab was to compensate the needs of both crypto investors and efforts leading to the completion of their own initial coin offerings. Iconiq Lab also launched a global ico accelerator program which was further made possible through the launch of their own token, the ICNQ Club Membership Token.

Basically the Iconiq Lab refers to a German based initial coin offering program which is also acting as a token sale accelerator program at the moment. Edge of that company is that it funds, develops and accelerates the most promising crypto-startups leading to their own token sale. Their speciality is that they help launch tokens supported by real-world business demands and sustainable solutions.

Financial cooperation with EOS and FinLab

FinLab AG is a public trade based German FinTech company builder. In Nov. 2017 it placed a an investment into Iconiq Lab which no doubt was a minor one but had strategic importance. This mutual cooperation led to the successful launch of an accelerator program on behalf of Iconiq Lab. the result and feedback was quiet amazing as Iconiq Lab received almost 200 applications for the first batch of that program  in late 2017. Due to several reason, it shortlisted the applications and eventually selected just five applicants to enter the program. That program was properly launched in Feb. 2018 in Germany.

These five selected companies are propelling towards their own initial coin offering and are at the moment in the middle of a digital roadshow. These companies are also giving rise to innovative Blockchain solutions.

Iconiq Lab’s mission behind all these efforts is to allow the flow of characterized creativity by using tokens as financial instruments. According to some crypto experts it will also facilitate crypto investors with dependable data in case they are trying to judge new token investment opportunities and their future impact.

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US Congress Features Cryptocurrencies for The Very First Time in Its Joint Economic Report

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On 13th March, an annual Joint Economic Report was published by the US Congress in which the Congress dedicated a whole section to the Blockchain technology and cryptocurrencies, for the very first time.

Joint Economic Report

The Joint Economic Report (2018) contains a whole chapter that provides the insight of the effect of Blockchain and cryptocurrency on today’s US economy and includes scrutiny and recommendations for the rest of the year. According to the report, 2017 was the year of cryptocurrencies, and highlighted the extensive concern over Bitcoin.

joint economic report

The combined value of all Bitcoins in distribution equalled to approximately $15.5 billion, by the starting of 2017; however, it boosted almost 14-fold to over $216 billion by the end of the year. Cryptocurrency market cap was certainly influenced by high prices and such cryptocurrencies like Ripple, Ethereum, and Litecoin also experienced the same gains.

But at the same time, the report also stated that leading economists, like Chair Janet Yellen (former Federal Reserve), still don’t think that cryptocurrencies meet the standard definition of money, and for him, Bitcoin is a highly-speculative-asset.

A stirring surge has been shown in the price of crypto and Blockchain assets, which leaves few crucial economic indexes behind such as;

  • Dow Jones Industrial Average
  • S&P 500

The report says;

“…If digital currencies become less volatile in the future, valuing items in those denominations could become easier and individuals might begin using them more frequently as a medium of exchange”

Recommendations

There are few recommendations in the document, showing certain concern, as all of the authors advise government agencies are about to consider and analyze new customs for the technology. They specifically distinguish Blockchain’s potential to enhance agency competence and guarantee security against cyber-attacks.

The report also says;

“Policymakers, regulators, and entrepreneurs should continue to work together to ensure developers can deploy these new Blockchain technologies quickly and in a manner that protects Americans from fraud, theft, and abuse while ensuring compliance with relevant regulations”

The analysis also highlighted that Blockchain has demonstrated largely resistant to hacking and has a lot of potential applications. Even though Blockchain and cryptocurrencies still stir up clash, the analysis that was shown in the report proves that administrative associations cannot avoid the innovative technology of Blockchain.

The report also noted that the technology can be used in other fields like;

  • Healthcare
  • Securing critical financial
  • Energy infrastructure.

The Subcommittee on Securities, Investment and Capital Markets assembled for a hearing that was dedicated to ICO (Initial Coin Offerings), Blockchain development and cryptocurrencies in the US, making it quite simple understand that more regulatory clarification would be necessary from the US government.

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