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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.

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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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.”

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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How to Secure Your Bitcoin Wallet – Killer Tips for Beginners

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A Bitcoin wallet is a software program to store your coins. It’s pretty similar to the traditional bank account in many ways: it stores your bitcoin assets, is protected by a certain mechanism and allows no access to a third party. The only difference between the two is that one stores traditional currency while the other stores the digital currency that is Bitcoin.

Since Bitcoin is the most popular and valuable form of cryptocurrency, the hackers are always trying to sneak into the wallets and steal your assets. This ultimately makes it necessary for the users to keep their wallet as secure as possible.

In this article, we have discussed some killer ways to help you enhance your wallet security. Give them a solid read.

How to Secure Your Bitcoin Wallet?

Avoid Online Services:

As a bitcoin user, you will come across many services offering to store your coins online. It’s a big no-no! these services don’t provide sufficient security or insurance like a bank. Moreover, many events have been recorded in the past where these services suffered security breaches which saw their users lose millions in USD. If you are seeking the maximum security, go with the cold storage wallets.

Smaller Amounts for Daily Use:

Always carry smaller Bitcoin amounts with you. A Bitcoin wallet address is similar to having a traditional wallet. If you don’t keep a thousand bucks in your wallet, you would want to have the same approach for your bitcoin wallet address. Ask any Bitcoin expert and they will tell to carry smaller amounts for daily uses – and keep the rest in a safer environment such as a server, mobile or a computer.

Always Keep a Backup of Wallet:

Do not, I repeat, do not forget to keep a backup of your wallet. The computers we use are always vulnerable to the failure. Plus, we can’t rule out the human mistakes either. Any of this happens and your coins are gone for good. So, make sure to have a backup computer, hard drive, USB, etc. where you can access your coins in case they are lost.

Go Encrypted:

Encrypting your bitcoin wallet address is another important factor to keep your coins secured. The encryption allows you to set a password on your smartphone/wallet for anyone trying to steal your coins. While setting up a password, make sure it’s strong and not based on generic words. Use random combinations of words, symbols, and letters for the maximum strength.

Always Use an Updated Version of Wallet:

Never use an outdated version and always keep your wallet updated. This is because the older versions are more vulnerable to theft and lack the stability. On the other hand, newer versions include useful features which prevent you from security risks and tackle the problems of various severity.

Conclusion:

These are some techniques that can help you protect your Bitcoin wallet from theft, hacking and other risks. Apart from these, there is multi-signature encryption and offline wallets that you can use to protect your coins. Good luck.

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What is Ethereum mining?

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What is Ethereum Mining?

Mining is a process which involves some computational intensive work which requires a lot of processing time and power. Basically, mining is the act of joining a given peer distributed digital currency network in consensus. Then miners get rewards for providing solutions to challenging mathematical problems. The process of mining is to put the hardware of computer system to use with mining applications.

All related info on digital currency transactions surely embedded in data blocks. Each data block attached internally to many other blocks. This produces the “Blockchain”. All these blocks had better be analyzed as fast as possible to make sure a smooth proceeding of transactions on the platform. The miners come in when the issuers of such digital currencies do not have the capabilities to handle the processing.

Who is a Miner and What is The Purpose of Ethereum Mining?

A miner is an investor which devotes time, computer hardware and space, and also energy to sorting through blocks. At the time when the mining process hit the required harsh, miners will submit the solutions of the mathematical problems to the issuers. After the verification, the issuers of the currency give rewards which are some portions of transactions they helped in verifying. They also give the digital currency in exchange for the miner’s work.  Digital mining must take place to upsurge the circulation of digital currency.

What Are The Basics of Ethereum Mining:

The same thing used for Ethereum. The best way to practice Ethereum is to get it through mining. However, mining Ethereum means much more than increasing the capacity of Ether in circulation. Since, it is also important for securing Ethereum network as it produces, confirms, publishes, and propagate the blocks in the Blockchain.

The process of Ethereum mining is to mine Ether. Mining Ethers uses a lot of electricity. If miners perform mining activities professionally, the more income they can generate through the sale of Ether. There are also Ethereum calculators available which calculate profits.

You can use any personal computer systems to mine Ethereum, required a graphics card(GPU) with a Ram at least of 2 Gb. Central Processing Unit (CPU)mining is just an exercise in frustration. It takes a longer period of time to complete, and the profits are just thanks to the cost. When it comes to mine Ether the GPUs are the best bet as they are standing 200 times faster than CPUs.

 

Tags: bitcoin vs other cryptocurrencies

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Winklevoss Twins Will Not Sell, Regardless Of How High The Bitcoin Price Goes

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Winklevoss twins, the most renowned bitcoin millionaires, still believe that Bitcoin is one of the finest investment opportunities out there and that they won’t sell bitcoin if its value goes over $300k.

Won’t Even Sell At $8 Trillion Market Cap:

In 2012, when Facebook opened up to the world, the Winklevoss twins got $45 million from a settlement with Facebook CEO Mark Zuckerberg. Despite their legal advisors’ proposal to take the settlement of $45 million, the Winklevoss twins received it in Facebook shares. By 2013, the Winklevoss twins amassed a fortune of $300 million, as the shares of Facebook soared.

After a fruitful exit from Facebook, the Winklevoss twins began to buy bitcoin at $10, amid a period in which just a handful of investors such as Roger Ver and Charlie Shrem had put resources into the crypto cash. Over the next couple of months, the Winklevoss twins obtained 120,000 bitcoins at an $11 million valuation.

Today, the 120,000 bitcoins acquired by the Winklevoss twins are worth $1.68 billion, and the Twins have gotten a benefit of ~$1.7 billion within merely four years.

The Winklevoss twins have emphasized that they won’t sell bitcoin even if its market cap surpasses that of gold at $8 trillion or when its price surpasses $380,000. Tyler Winklevoss believes that bitcoin is superior to gold since it is programmable as cash and has many advantages over traditional assets such as transportability, fungibility, divisibility, and security.

“In a funny way, we’re not sure if we’d sell it even at $380,000. Bitcoin is better than gold. It’s a programmable cash and may continue to innovate.” Said Tyler Winklevoss in an interview with New York Times.

More importantly, Tyler included that the Winklevoss twins are not influenced by the high unpredictability and rapid value movements of bitcoin because they have faith in the long-term execution of the digital currency and the innovation behind bitcoin.

“We are extremely comfortable in high-risk conditions with absolutely no assurance of success. I don’t mean existing in that condition for days, weeks or months. I mean a seemingly endless amount of time.”

 

Story Credits: ccn.com

Image: Google images

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