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According to the chairman of the US SEC (Securities and Exchange Commission), Jay Clayton, ‘all ICOs (Initial Coin Offerings) are not fraudulent’. These remarks were made by Clayton, on 5th April, during a speech at Princeton University. Clayton also added that stamping out fraud in the cryptocurrency market is perilous to protect customers. As well as, the improved regulatory analysis will essentially benefit the industry by removing fraudsters from it and con artists who give the whole place a bad name. Since there’ve been many ICO fraud cases before, the remarks of Clayton became viral.

SEC Investigation

Jay Clayton’s Remarks

Clayton said:

“Is the approach taken in Washington by the SEC adversely affecting distributed ledger technology in other areas? My hope is that it’s actually helping because this technology is being used for fraud… And to the extent that it’s being used for fraud, history shows that government comes down harshly on that technology later.”

He also added:

“If we don’t stop the fraudsters, there is a serious risk that the regulatory pendulum – the regulatory actions – will be so severe that they will restrict the capacity of this new security.”

Clayton signalled about SEC investigations, in February 2018, that his agency would be investigating cryptocurrencies and at that time, he said:

“I believe every ICO I’ve seen is a security.”

However, a few weeks later, ICOs were again targeted by the SEC as it issued dozens of subpoenas to the tech-companies related to cryptocurrencies, and counsellors to explore how ICOs are organized.

ICOs Ceased for Scam

Fraud charges were filed against the co-founders of Centra Tech, Robert Farkas and Sohrab Sharma on April 2, by the Securities and Exchange Commission. Centra tech co-founders were accused of raising $32 million by vending unregistered securities throughout the Centra ICO, as it was promoted by Floyd Mayweather (boxing champ) and DJ Khaled (record producer).

According to public documents, the SEC is now looking forward to two bitcoin exchange-traded funds for listing on the NYSE Arca, which is the first “all-electronic” exchange in the US. The name of these two-bitcoin exchange-traded funds are:

  • The ProShares Bitcoin ETF
  • The ProShares Short Bitcoin ETF

 

SEC to Allow Cryptocurrency ETFs

Cboe president, Chris Concannon advised the agency to permit crypto ETFs and soon after that, the SEC consideration of bitcoin ETFs showed up. In a letter, that was sent to the SEC, on23rd March, Concannon sacked criticism that virtual currencies are extremely volatile to be treated like other dependable commodities.

Concannon wrote in the letter:

“Because of its innovative features as a digital asset, bitcoin has gained wide acceptance as a secure means of exchange in the commercial marketplace and has generated significant interest among investors.”

Concannon also added that there is sufficient reliable price info from the bitcoin futures market on CME and Cboe Futures Exchange that must alleviate the regulatory uncertainties about its impenetrability as an asset-tool.

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A Nightmare for Ledger Wallet Users

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Ledger wallet bitcoin cash is the most used term in crypto industry these days. Ledger wallet is a considered to be a safe way to make your bitcoins secure. In more simple words it is a Nano Bitcoin wallet on a smart card device resembling a USB device. It is connected to a USB port to make safe payments of Bitcoins and protect them.

bitcoin cash news

Since two days the users of this nano device are facing problems in opening it, some have reported that Some users are facing difficulties in making transactions through it while some of the users cannot even see their balance. When such users were contacted, their experiences were terrifying. One of an affected user shared his experience that he had recently transferred all his Bitcoins, Litecoins, Ethereum etc from coinbase to Ledger Wallet, when he tried to send his Bitcoins the transfer was successful with the balance still zero on the wallet. Many other users had a same experience. Latest bitcoin cash news can be checked for such reports in which users have shared their drastic experiences.

Latest Tweet of Ledger Wallet

Ledger Wallet has updated its users that the company is trying to overcome the problem and has also tweeted about the  degraded performance of their wallet in terms of Bitcoin transactions. According to the company’s statement stating the above mentioned issue aroused due to a compatibility problem related to the new version of Bitcoin-ABC (Bitcoin Cash node). To the utmost satisfaction of its desperate users the Ledger company stated that all the funds were safe and sound, they can be accessed any moment with the help of emergency software wallet (Electron Cash).

Nicolas Bacca, the Chief Technology Officer of Ledger further explained that his team is continuously investigating the issue. He also appreciated the patience of his clients and offered them to use the  Electron Cash github in case of any kind of emergency transaction.

How a Nano Wallet Works?

Most of our readers must have heard the name of this kind of wallet for the first time, some might know about it but may not have proper knowledge about its working and technology. For the ease of all such readers we would briefly discuss this information which also make it possible for you to understand the problem faced by wallet users right now.

Anyone can install and use this digital wallet without technical skills. The Ledger Nano technology allows you to backup and restore your precious data even if your Device is lost or stolen. You can use your Ledger Nano on any computer, PC, Mac or Linux. Anyone can install and use it without technical skills.

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Not Spending Them Coins Just Yet!

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Enjoy this picture of an adorable little girl holding onto these bitcoins like her life depends on them.

 

Image credits: google.com/images

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Is Investing in Bitcoin a Good Option or a Bad Option?

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Is Investing in Bitcoin a Good Option

Over the past few months, Bitcoin investment has seen a steady rise in its value. At the time of writing, one bitcoin is worth $1157.27 USD. This incredible value appreciation has grabbed the attention of many people. Also, with the media and government paying attention to the virtual currencies, the number of people looking to start their Bitcoin venture has gone off the charts.

Another reason as to why digital currency is gaining so much popularity is its worldwide acceptance as a form of payment at retails, corporations and large business organizations.

Moreover, it has made transactions quicker, safer and cheap as compared to the transactions involving fiat currency.

With all this being said, one question pops up into the mind: “should you make Bitcoin investment or not?”

The goal of this article is to provide you detailed insight on this question. So, let’s get started.

Should You Invest in Bitcoin or Not?

How to invest in Bitcoin?

Before asking “should you invest in Bitcoin or not?” you would need to know that there are two different ways through which you can invest in Bitcoin:

  • Buying Bitcoin and holding on until the value appreciates
  • Mining

The first one is quite simple. You go to a Bitcoin exchange, buy bitcoins and hope for the value to go high.

Mining, on the other hand, is a little tricky because when a transaction takes place, it goes straight to get verified by miners over the network. The verification process involves some complex algorithms. However, once the transaction is verified, the miners receive freshly mined BTC as a reward.

One of the biggest risks involved in Bitcoin mining is that the currency has no inherent value, is relatively new and has a price which is highly volatile.

Despite the risk, plenty of private companies and organizations are investing a colossal amount of money in BTC. Moreover, the currency is being accepted as a form of payment throughout the world, which indicates that it’s only going to increase in usage and the likelihood of it dropping back to zero is extremely low.

Another risk involved in Bitcoin mining is the difficulty. In earlier days, the difficulty level was not so high and people could easily mine new blocks through their PCs and regular laptops.

However, the difficulty has now gone to the next level with more people joining mining pools.

Since the max that bitcoins will ever reach is 21 million, the closer you get to the number, the harder it becomes to mine the coins, hence the lesser rewards.

If a miner wants to make money through Bitcoin mining, he must invest big in high-tech mining equipment. Even then, profits are not guaranteed.

Apart from these two, there is a safe third option. If you can create some complex algorithms/graphic cards through some cheap equipment, then you can expect higher profits. However, a large majority of people don’t have the sufficient skill set to succeed through this option.

So, What’s the Advice?

Keep yourself updated with the market trends, browse through Bitcoin forums and do some research regarding costs before taking a dive into the BTC world. Following these rules would increase your chances of success by over 100%. Good luck with your venture.

Tags: BTC investment sites.

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The 10 Most Bitcoin-Friendly Cities in The US You Should be Visiting Today

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The US is titled as the 22nd most Bitcoin-friendly country in the world.

So, if you ever plan on setting up an exchange or a business regarding bitcoin, the US might offer you the right market. However, many Americans would look at this rather disappointedly because they believe that they’re unable to keep up with the technology or business industry as compared to other nations.

Well, here are 10 of the most bitcoin-friendly cities in America.

business regarding bitcoinAt the top, we’ve got San Francisco, California

 

Seattle, Washington

 

Los Angeles, California

 

New York, New York

 

San Diego, California

 

Austin, Texas

 

Boston, Massachusetts

 

Chicago, Illinois

 

Phoenix, Arizona

 

And last but not the least, Washington DC.

 

So will you be paying any of these places a visit? Let us know in the comments section below.

 

Tags: Bitcoin info, which country uses bitcoin, bitcoin accepted countries

Story Credits: steemit.com

Image Credits: steemit.com

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Online Bitcoin Wallets

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Bitcoin wallets or digital wallets are the wallets that require a web browser in order to run, just like websites out there. It’s safe to say that they are pretty much similar to a website.

Surprisingly, the web wallet options are thin compared to the iPhone or Android options.

Right now, there are two Bitcoin wallets worth using. The most reliable online bitcoin wallet is Green Address.

GreenAddress:

To get a Bitcoin wallet that provided protection against cyber-attacks, GreenAddress is the way to go. GreenAddress takes cyber-attacks seriously and provides your coins protection against these attacks.

GreenAddress is a “multi-signature” Bitcoin online wallet. This implies GreenAddress shares control of your Bitcoin with you. While other online wallets are prone to cyber-attacks, GreenAddress gives genuine two-factor validation keeping your coins protected in your wallet.

Spectro Coin:

SpectroCoin is London-based bitcoin wallet, exchange, debit card and merchant solution provider. It serves customers in more than 150+ nations. Right now, it encourages more than 20 types of deposits and withdrawals including bank exchanges, credit/debit cards, and cash deposits to name a few. It also gives bitcoin wallet addresses to iOS, Android and Windows Phone users.

These two are the safest online bitcoin wallets. Although these wallets provide all sorts of security, the ultimate protection comes down to the wallet owner. The best wallet security is the protection of its private key. As long as the key is unshared, chances of your coins getting stolen are very slim.

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