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1 July 2017, 09:42 AM, entrepreneur Mark Cuban

Well-known entrepreneur Mark Cubam is now planning on switching to another cryptocurrency after dropping the value of the Bitcoin. Accordingly, your clue about the ethereum is absolutely wrong. It may be UnikoinGold.

By offering an initial coin, Cuban is going to participate in fundraising round of his company.

With more than 30 ICOs, ICO method gets popular this year. Companies effort in the different channel to enhance its capability. In that scenario, companies start to sell their own cryptocurrencies and use the return to boost their business fund.

In addition, including Asthon Kutcher, Unikrn has already erected $10 million from investors. According to the CoinDesk, these companies allow its users to place bets with its digital token.

Up to 1 billion UnikoinGold will be available for grabs and the registration for pre-sale will be started in the mid of the July.

Up to now, a company has to set down the Price of the UnikoinGold. Accordingly, investors will be able to start transactions under Ethereum’s token.

 

News credit: fortune.com

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A Hard Drive Worth $75 Million That Won’t Recover

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James Howells, the IT laborer who unwittingly disposed of a hard drive containing what is currently valued at around $75 million worth of bitcoin, knows where the missing hard drive is, but he can’t try to recover it. That’s because the city in which the fortune is covered won’t enable him to delve into the landfill.

The missing hard drive is sitting somewhere under 200,000 tons of junk in a Newport, South Wales landfill.

Howells used an old PC to mine a sum of 7,500 bitcoins in 2009. Presently, he sold the parts to the Dell M1710 on eBay after his girlfriend complained about the mining’s clamor. He kept the hard drive in a cabinet, just in case the bitcoins increased in esteem. However, he overlooked the hard drive, and after four years, he disposed of it with the trash.

Howells has not been able to get consent from city chamber to dig into the landfill to recover the hard drive. Doing as such would require particular hardware that is typically used as a part of criminal examinations.

He was informed that a situation where even the police needed to go digging would require a group of 15, incorporating diggers with compulsory personal protection equipment. He couldn’t reserve such an operation, so he set up a wallet for donations:

https://twitter.com/howelzy/status/405690499593699328

City Council Denies Permission:

A Newport City Council representative said somebody has reached them in the past about recovering IT equipment containing bitcoins, but the chamber has shied away because of the expenses of uncovering the landfill and treating the trash, as per Wired. Such an exertion would cost millions and be environmentally destructive, with no assurance that a working drive would be recuperated. Around 50,000 tons of waste is added to the landfill every year.

A city chamber representative said the drive has likely experienced genuine galvanic corrosion from landfill leachates and gases. The landfill isn’t open to the public use.

Howells has the public address for his bitcoin, so he knows the bitcoins have not been moved. Since the information is encrypted, any individual who finds the hard drive would require Howells’ assistance to get to it.

 

Story credits: ccn.com

Image: Google images

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ICO News – Louisiana City Plans to Launch Its Own Cryptocurrency

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According to the Acadia Advocate, the mayor of Lafayette, Louisiana has offered the city to create its own cryptocurrency in order to raise money for public finance, taking a prompt from Berkeley, California. The proposal was made by the mayor-president of Lafayette, Joel Robideaux, at Heymann Center, during his annual address as he called the city a ‘technology hub’ that will advance the government services and diversify the local economy. Currently, the city is in extreme economic straits and the government is planning for the additional taxes.

public finance

Public Finance

Joel Robideaux sees cryptocurrency as a mean to public finance work; also, it allows citizens to contribute in the financing. For him, cryptocurrencies are an alternative for financing public infrastructure. Robideaux said, he was distinguishing that the domain of finance, banking and payment systems has changed persistently, and almost every industry will be soon disrupted. Robideaux dropped the idea of cryptocurrency being promoted by worldwide libertarians in quest of undetectable and unregulated digital currency transactions.

Robideaux didn’t give any detail about how his suggestion for cryptocurrency application to municipal finance will operate, and how he will be encouraging investors to support his idea. Whereas, Berkeley is considering to promote its cryptocurrency with municipal-ties and is looking forward to offer cryptocurrency-enabled “microbonds” in order to support reasonable housing projects.

What does Robideaux see?

According to Joel Robideaux, an ICO will fund a living-lab of blockchain developers, however, he didn’t clarify what the lab would exactly consist of and where it would be sited. He added, the city must diversify its economy to deal with the unemployment which was resulted after the oil crash (2014). Robideaux said the cultural economy of the city is already in existence and will turn out to be the alleviating force in its budget; however, the budget is still in a crisis mode as the over-all fund has been reduced.

Even as the cryptocurrency project of Berkeley is in the developmental phase, councilors in Berkeley have joined with Jesse Arreguin (the mayor) along with “Neighborly,” which is a tech-startup with software engineering support from UC Blockchain Laboratory of Berkeley and its aim is to offer an ICO that would encourage transactions inside the local area.

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Bitcoin Nears Bear Market Territory

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Bitcoin value is currently at 2502.00 US dollars, means down about $500 from its peak of $3000 at 12th June. Accordingly, other cryptocurrencies such as Litecoin and Ethereum also face the similar decline in values. The thing is, overall cryptocurrencies trend has been gradually dipping from last few weeks.

It is really odd to put old security terms to unique digital currencies’ procedure, which makes it clear that digital market is approaching the conventional 20% failure. The bubble was the most repeated word used by the experts. In addition, two weeks before the peak of it, Robert Hackett also diagnose a bubble.

Some important features of a bubble in technology race are, it should be craziest, certain and unjustified in reality. Matt Prusak the famous strategist brings some example of “dump money”. Few of them are entertaining if you are not facing any losses right now. Prusak also points out the beginners in the bitcoin market.

Creator of #2 cryptocurrency Ethereum Dmitry Buterin has been watching for correction and tweeted,

For more details, Prusak also point out the BroBible’s post “What is The Etherum [sic] Cryptocurrency [sic] and How Will It Make You Rich AF?”  which was with the spelling mistake, as the digital market was heading down.

Prusak elaborates many other proportions of crypto-mania but we’ll mention here one more. Through the course of lead-in, Ethereum’s value has been tracked by Ethereum classic’s values. While ETC is a fork whereas ethereum is a cryptocurrency with worldwide adoption.

Prusak says,

“highly likely the price [of ETC] has been driven significantly higher by uninformed investors simply not understanding the difference between the two – similar to how adding “.com” to a company’s name in 1999 sent stock prices up on average 74%.”

Basically, this is the revolutionary stuff, long-term potential for buying opportunity.

Tags: bitcoin value, bitcoin market, bitcoin exchange

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SEC Uncovers A Case Of Fraudulent ICO

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No doubt cryptocurrencies have become notoriously volatile as various governments and financial organisations are imposing restrictions regarding the sale and purchase of fraudulent ico. On the other hand it is also a fact that continuous boom in the cryptocurrency market is the main reason behind the birth of some alarming situations regarding its investment and fundraising options. With an increase in the popularity of Initial coin offering and cryptocurrencies, many top social networking websites have recently banned advertisements related to all sorts of activities related to this specific market. Recently Facebook, Google and Twitter are on the top of the list among the sites which have prohibited ads related to cryptocurrencies. Not only that but the US Securities and Exchange Commission has also issued a strict warning according to which celebrities can no more endorse ICOs without proper announcement. Even a country like India has officially announced that Bitcoin is no more than an illegal tender within its borders.

ico fraud

some massive frauds and illegal activities related to the digital tokens have also become a reason for such restrictions. One of such recent fraudulent activities was reported by the US security exchange commission against two co-founders of a supposed financial services start-up for organizing a deceptive initial coin offering.

Who Was Behind That ICO Fraud?

The names of the two founders are Sohrab Sharma and Robert Farkas who are behind that ICO fraud. They were running of a cryptocurrency firm by the name of Centra Tech which was also authenticated by champion boxer Floyd Mayweather. The US Securities and Exchange Commission charged the founders of Centra Tech for organizing a fraudulent initial coin offering. All that information was made public in a press release dated April 2.

 

Sohrab Sharma and Robert Farkas, were arrested and charged for raising 32 million dollars in an unregistered investment with the help of so called “CTR Token”. Farkas was fully prepared to leave the country, but was arrested moments before he could board his flight.

How Was This ICO Fraud Discovered?

According to the statement issued by US Securities and Exchange Commission, Sohrab Sharma and Robert Farkas offered a number of financial products on behalf of their company Centra Tech which also included a debit card backed by Visa and MasterCard. It was being claimed by Centra Tech that with the help of this debit card users could instantly convert cryptocurrencies into US dollars and other legal tokens. In fact it was all based on a fraud as no such agreement existed between Centra Tech and Visa or Mastercard.

 

Centra Tech was also alleged for creating fictional resumes and biographies in order to promote its fraudulent company. The company also hired celebrities like champion boxer Floyd Mayweather to promote their initial coin offering.

 

According to a warning issued by the US Securities and Exchange Commission in November last year, the ICOs which involved celebrities could be illegal.

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A Brief Look Into NeoCoin – China’s Biggest Cryptocurrency

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In late June 2017, Antshares declared that they were rebranding. and less than a month later, NEO was born and turned into China’s most popular cypto overnight. The rebranding totally redesigned Antshares’ social media, technical data, website, and blockchain nodes.

Bitcoin vs other cryptocurrencies:

Then after a couple months later, Antshares – now named NEO – outperformed Litecoin, Bitcoin Cash, and Ripple, growing over 3,053% every month. As of August 19 – NEO went back to the ninth place on the digital currency charts, losing 90% of its expansion. However, the NEO devotees trust this is just the start for what is termed as “Chinese Ethereum,” some are stating that by the end of September, NEO will become number one on the crypto charts.

At the time of writing, Neo was trading at $42.92 per coin.

Proof Of Work:

NEO showcases more POW (Proof-Of-Work) than any other crypto out there. The effortlessness, the 15-second exchange time and the simple to utilize Smart Contract has aided NEO to detonate in China. There are more than 50 renowned organizations that are intending to embrace NEO’s innovation in China. Compared to Ethereum, NEO has accomplished more in terms of a “Quick Witted Economy.”

While NEO is principally cruising in China cryptocurrency, the friendly developer software can make it immense in the west too. Ethereum – while having an elegantly composed code – doesn’t have as much POW as NEO.

Read more: Why Bitcoin Rose More than $1000 in the Last Two Months

What Is Neo Transaction Time?

NEO can deal with numerous transactions through its Smart Contracts. It’s 15 seconds quicker than Bitcoin and 5 seconds speedier than Litecoin. While NEO doesn’t have the standard reputation like Bitcoin or Litecoin, NEO’s reputation in China Bitcoin keeps on developing. It’s being known as the “Smart Startup Trent,” in China, since, the local startups are embracing NEO at a snappy rate.

Additionally, it has front end uses like Digital wallets, voting, forums, and profile management. The organizer of NEO – Da Hong Fei – calls it the ultimate “developer coin.”

NEO Coin In Next 10 Years:

Up until now, Da Hong Fei has unveiled different plans for what’s to come. Da Hong Fei is anticipating on implementing the Catalyst Award Framework to reward miners for mining NEO. Likewise, he plans on creating an environment that will be crowd funding friendly within the NEO community. Investing in NEO, however, has its own risks, similar to any other cryptocurrency out there isn’t any organization managing it to guarantee you a safe investment.

Make sure you have done your research before putting your resources into the currency.

Read more: Monero Security – 3 Main Techniques Behind Monero Anonymity Explained

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