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AMF (Autorite des Marches Financiers) is a French stock market regulator and in a press release, they recently announced that on 15th March, 15 cryptocurrency websites have been blacklisted by them.

Blacklisted Companies

15 companies were blacklisted by press release, as these companies nonstop advertised and marketed their products and services to the French public as investment opportunities, even with the new regulations. Such businesses that illegitimately offered investments in commodities such as; diamonds and other metals are also in this blacklist.

cryptocurrency websites

Press Release Statement

According to the press release;

“The investment proposals highlighting the possibility of financial returns or similar economic effects involve intermediation in miscellaneous assets and are now subject to ex-ante control by the AMF. Consequently, no offer can be directly marketed in France without prior allocation by the AMF of a registration number.”

This statement also reminds customers that high profits always include high risks so; advertising materials shouldn’t make you overlook that fact. Moreover, it suggested its customers to work hard enough before making any investment, and get knowledge about their company as much as possible. They also advised their customers to invest in a product only if they completely understand it.

Last year, Francois Villeroy de Galhau (Governor of the Bank of France), issued a warning in December and claimed that Bitcoin is a speculative asset, and there are high risks of investing in it, unlike other digital currencies. French regulators this move follows an array of apprehensive attitudes toward cryptocurrencies from the French government.

Jean-Pierre Landau’s Views

Jean-Pierre Landau is an open Bitcoin critic and in January, he was appointed by the French Minister of the Economy, to assign a task of examining cryptocurrency regulation. Landau sometimes calls Bitcoin the “tulips of modern times” referring it to Tulip Mania, as in 17th century, Europe was flounced by it.

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Blockstream-Bring Privacy to All Blockchain Assets

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On a blockchain platform, all the participants are free to check the transactions. This transparency level provides the much security to the users. Basically, it is a public verification process, where the cheating percentage is fall to its minimum level or zero. Unfortunately, it is not also good in privacy matters.

To improve the privacy terms, confidential transactions are its potential solution. Whereas, these transactions hide the transacted bitcoin which is using in test environment and academia.

A number of bitcoin core developers discover the confidential assets. These transactions are categorically designed for the bitcoin.  Confidential assets carry a level to any blockchain asset such as ownership paper, stock etc.

Blockstream engineer Gregory Sander says, “With Confidential Assets, we can generate multi-asset transactions where both the amount and the asset type itself are encrypted”.

Confidential asset

Basically, confidential assets are not a new born concept in the technology world. It is increasing in two ways.

The first part of this puzzle is planted on confidential transactions, which was introduced by the current Blockstream CEO Dr. Adam back. Blockstream developers Gregory Maxwell, Dr. PIETER Wuille and mathematician Andrew Poelstra further work on this and expand it to blockchain’s alpha sidechain.

According to these transactions, only receiver and sender will come to know the transacted amount. A public verification process, that is the rest of the world-where the transactions were created between the sender and the receiver. But the transacted amount is masked.

Whereas, in confidential transactions are masked in a programmed way that public verifier will able to perform a certain type of math on them.  If they cancel out the transaction, anyone is capable to add up the committed amount on the sending end. And, add up all amounts on receiving end. In addition, if they don’t cancel, means no amount was created out. In that way, a public verifier will fail to know how much was transacted. They have the idea that system wasn’t cheated.

The second part of the puzzle is quite new, which boost up the masking to assets themselves. Confidential assets include blockchain based assets not only bitcoin.

Sanders says, “While the sender and receiver would know that, say, a gold certificate was transacted, a public verifier would only know that ‘some asset’ was transacted — in ‘some amount”. “And if multiple assets are transacted at once, the public verifier would see that multiple types of ‘some assets’ changed hands, and he can verify that no ‘some assets’ were created out of thin air. But he would still not know what was transacted exactly, or how much of each ‘some asset”.

Projects

Confidential assets advanced in two different projects.

For one, it may be associated with the existing sidechain such as a liquid. This is an organize blockchain fix to the bitcoin. Where the blocks confirm by the service provider. which permits the transactions at little cost without troubling the main blockchain. Exchanges use this to let the customers move the bitcoins among different accounts without confirmation from the blockchain. Confidential assets allow to move the fiat currency as well.

In addition, Blockstream start a teamwork with Japanese IT company Digital Garage.

Sanders explains, “Digital Garage is working on a loyalty points blockchain” and “This means that all types of companies can issue their loyalty points, and customers can use them or trade them atomically for other assets using market makers. Privacy is huge here because you do not want to be showing the whole world how many points are outstanding on your books”.

Furthermore, confidential assets sidechain is a private decentralize exchange. This elementary setup can expand to mediators that act. Sanders says, “For the Digital Garage demo we have implemented a trustless, blinded swap of multiple assets through peers already. If we can deploy fiat currency on the blockchain, we can make similar arrangements between Bitcoin and U.S. dollar, euro or yen”. Blockchain use case complexity matrix

 

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Who will be the ‘Amazon Of Sharing Economy’?

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Each day companies are becoming more and more dependent upon blockchain technology applications. Now it is in the news that a company is going to build its own system to get rid of separate portions of the sharing economy scattered here and there. This will obviously be a blockchain based system activated with the help of a single app that will provide the users access to any sort of rent, borrow or share assets available within the network.

blockchain based system

That company is known by the name of ShareRing. It claims that the current market is no more convenient for consumers as it was in the past. The reason behind this inconvenience is that though there are numerous companies available in the online market but most of them are specialized in one particular service for instance office space or transportation etc. due to that reason the user has to go through the laborious task of registering multiple accounts. Even after that there is no guarantee of satisfaction as the things you want to buy or borrow would be available near your locality as these kind of business parties only operate in heavily localized areas. That is where ShareRing has decided to utilize its blockchain based systems to facilitate its users as well as the small business parties.

The Goal behind This Sharing Innovation

ShareRing has an aim of becoming the “Amazon of the sharing economy”. It will provide an ease of access to its users to lease a large number of assets through a single smartphone app. All these users would be interconnected with each other as well as nearby individuals who have items to share. The beauty of this system is that the rental companies would also be able to develop their own “mini” app. This app will provide them the facility to reach a much greater numbers of targeted customers within the share ring. For this purpose ShareRing is already considering deals with big brands, progress of these deals will probably be shared on its website.

Some of the areas in which the ShareRing technology may prove to be useful are:

  • Renting cars, trucks and trailers
  • Co-housing
  • Car sharing
  • Booking delivery drivers
  • Sharing gardens
  • Swapping books
  • Social dining etc

How will the App Work?

The ShareRing’s system will have full support of an integrated smart app which will use geolocation to show users which services are available near them, thus it will also be participating in growing the ecosystem. The company is quiet optimistic about its progress and hopes that soon there would be available one million assets ready to share around the world.

 

ShareRing’s token sharing event going to be launched in May, in the meantime the company is planning to run token hunts and several other campaigns to raise awareness of the project.

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Floyd Mayweather – SEC Charges Legendary Boxer with ICO Fraud

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The U.S. SEC (Securities and Exchange Commission) has filed charges against the Centra Tech ICO (Initial Coin Offering), claiming that the legendary boxer, Floyd Mayweather promoted a token sale, which was allegedly a sham security offering.

According to the SEC complaint, the co-founders of Centra ICO are involved in the ICO fraud and made material misstatements as well as omissions that were intended to trick the investors whereas, the Centra ICO was also an “unregistered securities offering.”

ico fraud

SEC Ceases ICO

According to the Securities and Exchange Commission, Centra only pretended to have relationships with major financial institutions and lied about it. The major financial institutions which sent Centra several cease-and-desist letters are:

  • Visa
  • Bancorp
  • Mastercard

In addition to that, some of the executives showed in Centra’s advertising materials were also fake. The co-director of SEC’s Division of Enforcement, Stephanie Avakian stated:

“We allege that Centra sold investors on the promise of new digital technologies by using a sophisticated marketing campaign to spin a web of lies about their supposed partnerships with legitimate businesses.”

Furthermore, he added:

“As the complaint alleges, these and other claims were simply false.”

The Securities and Exchange Commission originally subpoenaed Centra in the month of February as part of its wide-investigation into ICOs.

Centra ICO Dependence

The Centra ICO is quite well-known because of its use of celebrity endorsements to advertise its product. Floyd Mayweather, who is known as a legendary boxing champion and has made paid-endorsements for numerous ICOs, had worked a lot on the promotion of the token sale on various social media platforms and got more than 5,600 like and 1,500 retweets. DJ Khaled was also hired by Centra for the promotion of the ICOs; however, no celebrity was named in the summons.

Steve Peikin also stated:

“As we allege, the defendants relied heavily on celebrity endorsements and social media to market their scheme…. Endorsements and glossy marketing materials are no substitute for the SEC’s registration and disclosure requirements as well as diligence by investors.”

The SEC has also cautioned that some of these ICO endorsements by celebrities might be illegitimate especially if the parties don’t make any obligatory public disclosures. On the other hand, Mayweather’s tweet promoting the token sale, such as, doesn’t specify that it is a paid advertisement.

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Bitcoin – What Are Some Intriguing Facts About the Most Popular Digital Currency?

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Bitcoin is a form of digital money – also known as cryptocurrency that is free from the influence of any bank or governing authority. Bitcoin is used to make transactions anonymously on the global scale. The currency was created by a group called Satoshi Nakamoto and first came into circulation in 2009. The identity of group members is still unknown.

The usage of Bitcoin is increasing and the number of people making Bitcoin transactions is growing each day.

If you are one of the people who feel fascinated by this form of money and want to discover more about it, here are some intriguing Bitcoin facts for you.

Bitcoin facts:

There Is No Authority to Control This Currency:

You might be surprised to know that there is no entity that controls Bitcoin. The general concept of money is that it is controlled by a bank or other concerning authorities. But this is not the case with Bitcoin. The currency is autonomous from all sorts of regulatory authorities. The only person who can control the coins is the one who owns it.

Bitcoins Are Finite:

As bitcoins are not printed into cash or molded into physical coins, most people think that there should be an infinite number of bitcoins in existence. But this is not the case because if it were true, the coins would lose their worth. In order to keep them worth having, bitcoins are kept finite. The exact number of existing bitcoins is 21 million.

Bitcoin Has No Set Values:

There are no set values on Bitcoin. In fact, how much a bitcoin is worth depends on the popularity of the currency. The more people use it, the more it appreciates in value.

Bitcoin is Transparent:

Bitcoin is completely transparent in terms of transactions and amount. Each and every detail related to a transaction is available on blockchain. This openness, as a result, induces trust and security among the Bitcoin users.

Bitcoin Mining:

In Bitcoin mining, the users are supposed to solve mathematical problems using a specialized software to verify transactions around the globe. The users in return, are paid if their efforts were successful.

Want to learn more about Bitcoin mining, read our guide on what is Bitcoin mining and how does it work.

Bitcoin Transactions Are Irreversible:

The Bitcoin transactions are irreversible and a user can never be forced to pay. Once the bitcoins are paid, there is no way to revoke the transaction or force the receiver to pay back your coins.

It Costs Little to No Money to Make a Transaction:

Bitcoin transactions cost little to no money. There are no taxes on the currency and it doesn’t matter to which part of the world you send the money, there are no cuts on transactions and the receiver gets the exact amount that was sent to him.

Lastly -Bitcoins Are Stored in Digital Wallets:

Bitcoin wallets are equivalent to bank accounts for real cash. These wallets are used to store, withdraw and transfer bitcoins from one wallet to another. The wallets are protected by a security key and only the owner can know about it until he reveals it someone else.

Tags: digital currency bitcoin

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How to Mine Bitcoins – Getting Started with Making Your Own Bitcoins

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How to Mine Bitcoins

Mining is one of the common ways to generate bitcoins. However, it requires an outrageous level of caution and awareness in order to mine coins. Else, you will wind up losing more cash than you actually mined.

The first and foremost thing to remember is to never use a single PC. This is because mining process requires an extensive amount of processing power and using only a single PC means you will have to wait for several months, if not years just to be able to mine a few coins.

This approach is only valuable when you utilize a PC for which you don’t need to pay the power charges. So, if you are still interested, here are some steps to help you learn how to get bitcoins.

Steps to How to start Bitcoin mining.

A Bitcoin wallet address is similar to having a PayPal account where you can store coins. The wallet can be stored online or locally on your PC.

In order to use a wallet, you will need to download “Blockchain” which is used to store all transaction records. The information is accessible to everyone which makes the process more transparent.

Step 2 – Join A Pool:

Mining through pools is a fastest way to get bitcoins. A Bitcoin mining pool consists of several computers connected through the internet. The network then breaks a fully assembled block into several smaller blocks to share the workload.

However, there is a risk involved in pools regarding payment.

Since a pool has only one owner, the coins are paid to the owner after mining is finished and there is always a danger that he will keep all the money to himself. To avoid this situation, make sure to choose a trustworthy owner.

Step 3 – Bitcoin Miner Installation on Your PC:

Step 3 involves installing bitcoin on your PC. If you are a beginner, it is suggested to install Kiv’s GUI miner.

Learn more about how to set up a Bitcoin miner here.

Step 4 – Logging In:

Once you have set up the Bitcoin miner on your PC, log into your pool account and enter your wallet address.

Step 5 – Worker Registration:

A worker is a sub-account within your primary pool account. You can have more than one workers running on each PC.

Step 6 – Start Mining:

The last step involves entering your worker credentials and Main Pool URL into Bitcoin mining software to start mining.

Good luck with your venture!

Tags: How to generate Bitcoins

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