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On Thursday, a letter was issued to parliament by Dutch finance minister, Wopke Hoekstra, to encourage a global approach to cryptocurrency regulation. The main focus of Hoekstra is on new consumer protections and to start it up, he wants to have a dialogue with credit card companies about potentially introducing stronger protections for those people who prefer to buy cryptocurrency with their credit cards.

According to Hoekstra, by the end of 2019, all local exchange platforms, plus, the cryptocurrency regulation and services would deceptively get registered with the government and should be also obeying their customers necessities. The finance minister also proposed some new regulations in the letter, that could also be helpful in protecting the ICOs (initial coin offering) contributors.

cryptocurrency regulation

Hoekstra highlighted;

“It is being investigated whether investors in ICOs can become just as good protected as investors with a normal IPO or bond issue. The current framework is not sufficient for this.”

In the past, particularly in ICOs, some issues were highlighted by the regulators, making these proposals more noteworthy. Last November, a statement was released by AFM (Authority for Financial Markets) of Netherlands, which is a Dutch version of U.S. SEC (Securities and Exchange Commission) and referred the ICO market to a dangerous-cocktail. Linked with these statements, a ban was proposed by Hoekstra that’d forbid marketing of risky financial products to random customers.

Moreover, Hoekstra also promised to work in the European Union with other countries as well and encourage collective research to discover the market’s cross-border nature. Yet, Hoekstra specified that even inside the Netherlands, more work is required for updating the laws of the country to account for cryptocurrencies and more erratic activities around it.

 

As in the letter Hoekstra wrote;

“The current supervisory framework and instruments are insufficiently tailored to cryptocurrency,”

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ICO Alerts: Five ICOs Ceased by Massachusetts for Selling Unregistered Securities

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According to the new orders of Massachusetts, the state has halted five ICOs (Initial Coin Offerings) as it stated, that the firms behind them were selling unregistered securities.

Crypto ICO News

The officials of government found that they all of these companies defied the General Laws of the state, which describe securities as bonds, investment contracts and stocks, that assures a financial profit, as it’s clearly defined in the orders. This stoppage was a part of a bigger inquiry into token sales that are being conducted by the government of the state.

ICO world

Investigation Against Companies Selling Unregistered Securities

On Tuesday, after investigating each of the company, William Galvin (Massachusetts Secretary of State) has ordered 18moons, through platforms like Sparkco, Mattervest, and Pink Ribbon, to stop their ICO campaigns. Moreover, all of these companies are required to propose, in order to return funds to their investors within the period of 30 days. Additionally, the companies would have extra 45 days to return the funds.

According to the records, a list of all refunded investors who have paid back the company has to be provided by the startups as well. Despite the fact that the orders highlighted, that the campaigns will be permanently halted and won’t be allowed to sell unregistered or non-released securities within the Massachusetts state, still, all startups will have the ability to register its tokens as securities in the future.

On the other hand, companies that are under- investigation, according to the orders, these companies will be suspended until they completely follow the orders. Though, if any company fails to obey any of the terms in the Division’s Order, then a legal action will be taken by the Enforcement Section.

No Response from Companies

The companies haven’t commented or responded to any of the questions so far. The head of SEC, Jay Clayton wanted cryptocurrencies to be regulated just like regular securities, as there was a possibility that at least few of the state officials would settle on it. But still, the doubt exists that there are many bandwagoners in the ICO world who don’t comprehend very much about the financial regulation.

Such moves can solely do so much, especially when there aren’t plenty of guidelines surrounding ICOs, however, they can lead some of the companies to have a second thought before hastening.

The latest step of Massachusetts on the ICO front is represented by its advancement and progress. At the beginning of this year, a suit was filed by the state against an ICO director and his company, claiming that the token sale represents an unregistered security offering.

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The Biggest Misconceptions About Bitcoin and How Experts Are Trying to Debunk Them

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What is Bitcoin Cash – How To Get Bitcoin Cash

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The hottest news coming out of the Bitcoin world is it being split into two. The hard fork, everyone was eagerly waiting for was carried out on August 1st and we no more have Bitcoin – the lord of the crypto – as a single entity. Yes, now there are two bitcoins:! BTC (original Bitcoin) and Bitcoin Cash or BCH (forked version of Bitcoin).

what is bitcoin cash?

Bitcoin Cash is similar to Bitcoin in terms of protocol: same block time, 21,000,000 supply, proof of work SHA-256 hashing, and the same reward system.

However, two of the main things that separate it from Bitcoin are: block size limit and the difficulty level.

Bitcoin Cash proposes to expand the block size to 8 MB compared to Bitcoin which offers a block size of just 1 MB. The other major difference between the two crypto-bros is difficulty level as BCH will adjust the difficulty every 6 blocks as opposed to Bitcoin’s 2016 blocks.

Some other differences are discussed in the following part of the article.

What Is The Difference Between Bitcoin And Bitcoin Cash?

  • BCH is an altcoin forked off Bitcoin
  • It separates blockchain and bumps up the block size up to 8MB
  • It removes Segwit
  • If the split is not successful or the community refuses the usage, BCH will soon diminish after the split.

How To get Bitcoin Cash?

Before obtaining Bitcoin Cash, make sure you go through the following points:

Get Your Private Key Ready:

Get a private key to make sure you have access to Bitcoin wallet. Having a private key is essential as without it, there is no way you can access the coins.

Create A BCH Wallet:

In order to keep Bitcoin Cash somewhere, you will need to create a BCH wallet. This will help secure your bitcoins and also assist to make transactions.

Do Not Trust Anyone:

Do not trust anyone, I repeat, do not trust anyone under any circumstances. You will be contacted with numerous scammers/tricksters whose sole purpose is to steal your coins. You can avoid them by not responding back and keeping your private key unrevealed.

What Are The Exchanges And Wallets That Except BCH?

bitcoin vs other cryptocurrencies:

The list of Exchanges/wallets that except BCH include:

  • Bitfinex
  • com
  • BTCC
  • CoinFloor
  • Quoinex
  • ViaBTC
  • Cryptopia
  • Jaxx
  • Korbit
  • HitBTC
  • Huobi
  • OKCoin
  • Bitflyer
  • Bithumb
  • Bittrex
  • Kraken
  • OKEx
  • Yobit

Wrap Up:

The word is, we now have two bitcoins: Bitcoin and Bitcoin Cash (BCC or BCH).

Just remember to be cautious while splitting your BTC and read as much about the split as possible. Hopefully, you made most of the split and are now enjoying your free coins.

Do let us know how the split turned out for you below!

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Bitcoin Explained

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Bitcoin

Following the uncertainty of the current world and its unstable economy where currencies face great flux every day, a new economy was introduced under the alias Satoshi Nakamoto. Under the worlds infinite disarray, Bitcoin emerged as a decentralized and a digital cash system with regulated by almost no one.

This peer-to-peer networking system runs through electronic signatures and crypto graphics to generate currency- Bitcoins. Bitcoins are not only a form of currency but also a form of investment for some investors who keep these coins in hopes of an increase in their value and enjoy the opportunity cost.

Mining

Just like normal everyday cash, this currency doesn’t have to be printed and issued by the federals or the central banks. Bitcoins are generated through a process called ‘mining’. These coins are mined out of the system by giving complex and advanced mathematical problems for your computer to solve. The target is to generate a 64-digit number as an answer to that puzzle. When a system solves the given complex algorithm, it obtains a specific fraction of Bitcoins every time.

The bitcoin network automatically sets the difficulty level of the mine to be mine next. On average, there are around 25 Bitcoins mined every 10 minutes. During the process, only a set number of Bitcoins can be mined during a certain period. After every four years, this reward is halved. Currently, it is up to 12.5 Bitcoins for every mathematical problem solved.

Limited Supply

Fiat currencies have an unlimited supply and their value can be easily manipulated anytime by the regulatory bodies. Given its independent nature, Bitcoin has tightly restricted supply controlled by the underlying algorithm of the system. There is a set number of coins that can ever be mined ever. A total number of 21 million bitcoins exist in the system.

Bitcoin at its peak has managed to engage the market by over 2 million dollars. The lowest has been $2. Today the value roughly swifts around $9,000.

No economy supports the sudden fluctuations in the system. Too much too fast will result in the dropping of the value of the currency. Too much too slow will cause the economy to halt. Due to these reasons, Bitcoin has a self-stabilizing system to regulate the economy at the most favorable grounds.

Exchangers allow the holders to transfer and buy or sell these Bitcoin crypto coins among other users. One of the famous platforms is Bitstamp. This allows users to buy Bitcoins in fiat currency and also enables them to sell them to other potential users. Bitstamp enables users to store the coins too as e-wallets. But beware of the hackers, as they can dangerously destabilize these digital economies.

With the gradual growing influence of these cryptocurrencies in the world today, a lot of applications and platforms have shown loyalty to the Bitcoin. Platforms like WikiLeaks and WordPress have started accepting bitcoins as means of their payments and transaction currency.

MintChip

Inspired by the Bitcoin, the Canadian government has launched a similar cryptocurrency named, MintChip. This electronic currency is backed by the government, unlike the Bitcoin.

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Bitcoin vs. Ethereum- 2017 Edition

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There are various warriors out there fighting for the cryptocurrency crown, but the lead runners are Bitcoin and Ethereum and both have serious backing. Due to the increase in competition, it is important for investors to understand the similarities and differences between the two.

Bitcoin vs. Ethereum- 2017 Edition

What is Bitcoin

Bitcoin is the first form of digital currency which was created by Satoshi Nakamoto. Since everything is shown on the public ledger, the blockchain, you can be confident that the transaction is legitimate. Bitcoin offers lower transaction fees than traditional online payment mechanisms and has no interference of banks. Also, it is used to buy things electronically. In that sense, it’s like conventional dollars, euros, or yen, which are also trading digitally at the moment.

What is Ethereum

Ethereum is meant to be much more than a payment system. It is also based on blockchain technology and was introduced to supplement decentralized applications.

It even features smart contracts and the Ethereum Virtual Machine. Firstly, Ethereum’s smart contracts allow contract negotiation and facilitation using an app which provides a decentralized way to verify and enforce them. It is powered by the Ethereum cryptocurrency Ether, which is held in the Ethereum wallet. Their aim is to provide greater security than normal contracts and bring down the associated cost. Also, the Ethereum Virtual Machine helps to create blockchain applications in a much easier and efficient way, enabling people to run any program.

Bitcoin vs. Ethereum:

In Bitcoin blockchain, miners mine to earn bitcoins and two-thirds of all available bitcoins have already been mined. The reward for mining halves about every four years and it’s current value is at 12.5 bitcoins with average block time as 10 minutes. Due to this block time, Bitcoin is suffering from slow transaction speeds thus, vendors and purchasers are choosing to shift.

On the other hand, Ethereum rewards its miners with ethers, which is a kind of token that fuels the network. You earn 5 ethers given for each block and unlike Bitcoin, Ethereum’s block time is 12 seconds. Ethereum’s GHOST protocol enables quick block time. The faster the block time, the quicker the confirmations. However, there are also more orphaned blocks. Ethereum gives application developers the opportunity to create all sorts of applications that carry out their own set of operations, which have never been seen before. While smart contracts are set up to be unchanging and trustworthy, they are still ultimately a creation of humans who are capable of error.

Another major difference is the supply of Bitcoin, which is exceedingly low, with just 16.24 million left from 21 million. Whereas, Ethereum has over 89,752,192 coins currently existing. This is an advantage for Ethereum since Bitcoin might be left behind due to its low supply.

Furthermore, both Ethereum and bitcoin use different hashing algorithms. While Bitcoin uses SHA-256 algorithm that produces a number in hexadecimal format, Ethereum uses Ethash algorithm.

Here’s a table representing all the differences between Bitcoin and Ethereum:

 

The future of Bitcoin and Ether

As we glance into the future, it’s hard to get a grip on who exactly is going to be on top of the chain. Over the years, Bitcoin has become more and more popular, there has been a steady increase in volume since the beginning of 2017. It now represents a technological breakthrough that has the potential to change the way the world banks. Now standing on $2209, for the first time in history, surpassing even the price of gold.

However, as high as Bitcoin pushes, it is going to drag Ethereum with it as well, which is now trading at $175. While the future of Ether is more uncertain than the future of Bitcoin, the potential gains are also much greater.

Both digital currencies continue to push all-time highs for almost every available metric and show no or very little signs of slowing down.

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