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35-year-old Michael Richo of Wallingford, Connecticut, finally confessed to stealing $365,000 in Bitcoin in Hartford Federal Court on Tuesday. According to a release from the US Department of Justice, through a phishing scheme, he posted malicious links programmed to appear as a replica of very popular dark market websites.

Richo accepted that he stole more than 10,000 usernames and passwords and used this data to supervise the bitcoin balance and accounts of victims. He then sold his victims’ assets on Bitcoin exchange platforms for US dollars.

He was previously arrested last October on charges of wire fraud, identity theft, and computer fraud. Eventually, he gave in and was pleaded guilty and is scheduled to be sentenced in September.

The charges are meant to carry a maximum sentence of 30 years of imprisonment.

 News credit: coindesk.com

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How to Purchase Bitcoin Online

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You can purchase bitcoins from either exchange or other individuals through marketplaces.

You can pay for them in various ways, going from cash to credit and debit cards to wire exchanges, or even with different cryptographic forms of money, depending on the person you are buying them from and the where you live.

How To Buy Bitcoin Online?

The fastest and easiest way to buy bitcoin online is buying it through credit or debit card. SpectroCoin is one of the renowned names that provide this feature. Through SpectroCoin, you can buy worth of $50 bitcoins jut within 10 minutes. And as you proved to be a reliable customer, the limit is raised to $200 and then $500 within a few days.

How To Buy Large Amounts Of Bitcoin?

Follow these steps to purchase bitcoins online in large amounts:

  • Find a reliable Bitcoin exchange such as Kraken or SpectroCoin
  • Buy bitcoin by paying in local currency
  • Transfer the coins to your wallet
  • Get a bitcoin debit card for easy spending

Learning how to utilize Bitcoin is much the same as adapting any other innovation. This will require you to get comfortable with how things work.

We profoundly prescribe you learn how to transfer bitcoins to a cold storage wallet.

Also, the Bitcoin cost can vary all over the world so make sure you do your examination to ensure you are getting a fair deal.

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What’s The Future Of Ethereum And How  It’s Going To Perform In 2018?

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What’s the future of ethereum: At a Blockchain conference facilitated in Taipei, Ethereum Co-founder Vitalik Buterin sketched out the long-term guide of Ethereum development.

what's the future of ethereum

As indicated by Buterin, a large portion of the basic issues of the Ethereum Blockchain network fall under the following classes: adaptability, contract security, and privacy. A few system updates including the latest Byzantium hard fork provided solutions in the three major areas. However, as Buterin noted during a meeting with South Korean mainstream press outlet Joong Ang, it might take no less than two to five years to really understand adaptability inside the Ethereum network. Buterin stated:

 

“I would state two to five, with early models in one year. The different scaling solutions, including plasma, sharding, and different state channel frameworks, for example, Raiden and Perun, are already thoroughly thought out, and advancement has just begun.”

 

Concerning adaptability, the Ethereum Foundation and the open-source advancement group of Ethereum gained critical ground with the upcoming launch of the Casper Testnet.

Casper is a long-term scaling solution that utilizes a crossbreed proof-of-work (PoW) and proof-of-stake (PoS) protocol onto the Ethereum. At present, like Bitcoin, the Ethereum exclusively depends on the PoW to maintain the network and to confirm transactions.

As Christian Reitwiessner, the team lead for Ethereum’s Solidity and Ethereum C++ usage, clarified in a current paper, arrangements like PoS are important to dispose of the workload of clients, hubs, and reliance on miners. Reitwiessner composed:

 

“scalability does not originate from the fact that Blockchains are relieved from their workload by making a big number of smaller chains and moving the exchanges there. It is only accomplished once a client does not need to confirm each and every transaction that is sent to the system.”

 

Structurally, Ethereum currency is different from Bitcoin because it works as a platform for decentralized applications. Ethereum critically needs an adaptable system which can deal with decentralized applications.

To enhance the privacy of the Ethereum network, designers of Ethereum coordinated Zcash’s usage of zk-SNARKs, to possibly settle anonymous and private transactions.

Ethereum Future – Price Trends In 2018:

JP Vergne, a teacher at Ivey Business School, noted in a study that developer activity is the best predictor of the cost of a digital currency. Vergne stated:

 

“We found that the best predictor of a cryptographic money’s exchange rate is the measure of developer activity around it.”

 

Ethereum is the only Blockchain system and cryptographic money in the market which approaches Bitcoin in terms of developer activity, and subsequently, given the presentation of innovative solutions, such as Casper, Sharding, Plasma, and zk-SNARKs on Ethereum, its cost will probably surge all through 2018.

Story credits: CoinTelegraph

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Nasdaq going to invest in blockchain startups

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Nasdaq going to invest in blockchain startups


Blockchain has business potential 

When you are going to generate the money, it’s really hard to beat blockchain. Blockchain startup has its own trends in exchange markets.  Similarly, it has its own business potential. In the same way, large companies all over the world are interesting to invest in blockchain investment by using its potential. First and foremost, the example is Samsung partnering with blockchain to provide blockchain capability to Samsung card.

At the same time, well-reputed companies are taking the interest in blockchain technology. Nasdaq is the world’s second-largest stock exchange company similarly is going to invest in the bitcoin blockchain stock. While it has been the earliest and well-known supporter of new technology in the stock market.

Proxy voting

Financial institutions have to use the proxy voting test. therefore, this growing experiment mostly uses at first emerge. Nasdaq recently completes its test by using blockchain technology. consequently, it will runs it to different exchange sector, whether to approve this technology.

Blockchain ‘time start now

The blockchain is a technology, in which distribution and imputation of transactions are controlled by the internet without any approval of the central authority. As a result, its creates the golden record of data, market infrastructure.in addition, bank hoped that security settlement would be change to corporate actions.

This is the separate issue to implement this technology to its own market or not. Nasdaq is evaluating, whether this system is to be sell to clients including central security depositors. The excitement of investments in blockchain remains high. A technology needs several years of an industry to reap the benefits.

Nasdaq venture

On 19th April 2017 Nasdaq introduce the Nasdaq venture. Which clearly means that company is going to invest in the companies working with blockchain. The announcement does clear one thing, the venture will look after the investment opportunities and will focus on next generation data analysis, machine learning, machine intelligence, cloud and data analysis.

Nasdaq does its first investment in $10M, and it will focus on both late-stage and seed seed-stage placement

The range of investment will be from $1M to $ 10M.  Moreover, each investment will directly support to Nasdaq’s core business strategies and mission. In addition, Nasdaq venture makes it sure that they will focus on data and analytics, machine and artificial intelligence, emerging and frontier marketplaces, digital transfer/payment/transaction processing type of finch companies.

On the other hand, Nasdaq always an active supporter of financial technology innovations, especially in the case of blockchain technology. Therefore, it has a great reputation in the financial sector.  In conclusion, Nasdaq will facilitate the US even so, the other countries by using this system.

As Friedman said, “With the launch of our new venture investment program. We are reinforcing our focus on driving growth. Innovation by evaluating, distributing, licensing and integrating disruptive technologies for the long-term benefit of our global clients.”

 

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10 Reasons Bitcoin Price will Destroy All Time Highs in 2017

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Chinese Blockchain Industrial Park The Beginning Of A New Era

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It is a fact that with the passage of time the uses of blockchain technology have witnessed a tremendous increase. China is on the top of the list in this regard. Main reason behind it being that China is the hub of tech startups. Due to so much importance of China several companies have been trying to launch setups for their upcoming blockchain technology chains in China. Recently JD.com announced plans to launch its accelerator program for artificial intelligence and blockchain startups in Beijing this February. And now the launch of a Chinese Blockchain Industrial Park is in the news. This project will be backed by a 10 bln yuan fund which will be partially backed by the Government.It is also being reported that well-known Bitcoin (BTC) investor Li Xiaolai and Blockchain “celebrity” Lao Mao, will be two of the managers of the fund.

latest blockchain news

According to latest blockchain news the above mentioned fund was announced on April 9, during the opening of the Hangzhou Blockchain Industrial Park China. This fund is named as Xiongan Global Blockchain Innovation Fund financed by the Yuhang District Government. Thirty percent of these funds would be government-guided. The fund will be managed by the Hangzhou Haoyu Investment Management Co. and the Future Science & Technology City Administrative Committee. Hangzhou city in Zhejiang province, home to e-commerce giant Alibaba. This industrial park will also serve as an incubation center for the startups.

History of Hangzhou Haoyu Investment Management

Hangzhou Haoyu Investment Management is mainly comprised of two big names, the Handan Investment and INBlockchain. The previous projects of these two companies included:

  • EOS
  • Qtum
  • Zcash

The fund’s announcement and the opening of the blockchain industrial park has played vital role in further establishing the position of Hangzhou. The government in Hangzhou has already portrayed the blockchain technology as the most advanced innovation. Even it has been ranked just behind artificial intelligence and virtual reality in most cases.

Regulatory Uncertainty

The announcement of that fund has hit the news  just weeks after the plans for an international Chinese Blockchain Center were cancelled over legal technicalities. Despite a wave of enthusiasm, all those companies must deal with the regulatory uncertainty in China with respect to blockchain technology and crypto industry. No doubt these restrictions a part of the Chinese Government strategy to control capital outflow and corruption. This is the sole reason behind China’s strict actions against cryptocurrencies and initial coin offerings.

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