Forgot to mention that I was on The Bitcoin Group on the World Crypto Network on Friday. You can watc
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February 6 · Issue #164 · View online
Kyle Torpey has been a full-time Bitcoin writer and researcher since early 2014. Currently, he contributes regularly to Forbes and CoinJournal. His work has also appeared in Business Insider, VICE Motherboard, Nasdaq, and many other media outlets. Additionally, Kyle goes over the day's top Bitcoin stories in a daily YouTube show and podcast, which can be found at http://kyletorpey.com.
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Forgot to mention that I was on The Bitcoin Group on the World Crypto Network on Friday. You can watch that here: https://www.youtube.com/watch?v=e_5cJmA1hDg
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Note: This week will be ad-free as I search for new sponsors. Feel free to shoot an email to email@kyletorpey.com if you know anyone interested.
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Coinbase on Twitter: "Our engineering team has begun the final testing phase of SegWit for Bitcoin on Coinbase.
SegWit compatible Bitcoin sends/receives will be available for customers in the next few weeks.
We previously wrote about SegWit on our blog: https://t.co/3YPQPkYy4C"
Our mission is to create an open financial system for the world. Founded by @brian_armstrong @fehrsam Help: @coinbasesupport
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U.S. regulators may ask Congress for virtual currency legislation | Reuters
U.S. regulators may ask Congress to pass legislation to improve oversight of virtual currencies like bitcoin amid concerns about the risks posed by the emerging asset class, the head of the Securities and Exchange Commission said on Tuesday.
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US government is trying to get coordinated in its efforts to regulate bitcoin
The Treasury Secretary is bringing together federal agencies to coordinate cryptocurrency regulation, the chairmen of two financial commissions said.
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Sen. Shelby Says Cryptocurrencies Could Cause Systemic Risk – Bloomberg
Sen. Richard Shelby, an Alabama Republican, discusses cryptocurrency regulation and the recent market turmoil with Bloomberg’s David Westin on “Bloomberg Markets: Balance of Power.” (Source: Bloomberg)
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Wave of Crypto Scams, Bitcoin's Crash Spook Card Issuers - Bloomberg
America’s largest banks had myriad worries in mind when they rushed this week to ban customers from using credit cards to buy cryptocurrencies. Bitcoin’s gut-wrenching slide was just one of the threats.
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The Ripple story – BitMEX Blog
Abstract: In this piece, we briefly look over the history of Ripple and examine various disputes between the founders and partner companies, typically over control of XRP tokens. We then explore elements of the technology behind Ripple. We conclude that the apparent distributed consensus mechanism doesn’t serve a clear purpose, because the default behaviour of Rippled nodes effectively hands full control over updating the ledger to the Ripple.com server. Therefore, in our view, Ripple does not appear to share any interesting characteristics with crypto tokens like Bitcoin or Ethereum, at least from a technical perspective.
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Bitcoin Miners Face Shakeout as Only Strongest Survive at $6,000 - Bloomberg
Bitcoin miners face a reckoning as the cryptocurrency’s tumble wipes out profits for all but the industry’s most efficient operators, according to Bloomberg New Energy Finance.
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North Korea Suspected of Hatching Coincheck Heist - Bloomberg
South Korea’s spy agency has begun investigating the possibility that North Korean hackers orchestrated the theft of about $500 million worth of digital coins from Japanese cryptocurrency exchange Coincheck Inc., said a lawmaker who attended a meeting with the head of the intelligence service.
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Westpac, ANZ and NAB aren't planning a bitcoin crackdown ... yet - ABC News (Australian Broadcasting Corporation)
Australia’s largest banks have confirmed they do not currently have plans to block their customers from buying bitcoin and other cryptocurrencies, despite the fact some UK and US banks have instituted a crypto-ban.
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BIS Chief Sees ‘Strong Case’ for Cryptocurrency Intervention - Bloomberg
There is a “strong case” for authorities to rein in digital currencies because of their links to the established financial system, Bank for International Settlements General Manager Agustin Carstens said.
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Governments Hate Bitcoin and Cash for the Same Reason: They Protect People’s Privacy. - Reason.com
Officials want to track every financial transaction you make, and they see cryptocurrencies and cash alike as barriers to achieving that goal.
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Boasting about bitcoin profits ‘godsend for cybercriminals’
Google says hype leading to increase in phishing attacks on those talking about it online
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Man sues T-Mobile for allegedly failing to stop hackers from draining his cryptocurrency account - The Verge
A man sued T-Mobile on Sunday, claiming that the company’s lack of security allowed hackers to enter his wireless account last fall and steal cryptocoins totaling thousands of dollars.
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Bitcoin's Crash Looks Spookily Familiar - Bloomberg
There are similarities between this week’s crypto and markets routs.
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Institutional investors are betting on the bitcoin long game - Business Insider
Bitcoin is down 64% from its December high, but one investor still sees it hitting $50,000 in 2018.
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A Tiny Canada Bank Is Building a Vault for Cryptocurrencies - Bloomberg
VersaBank Inc., a tiny Canadian lender led by a tech-savvy CEO with a penchant for planes and classic motorcycles, is building a virtual safety deposit box for cryptocurrencies and other digital assets.
Kyle’s note: This is old news but they have comments from the bank.
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GOLDMAN SACHS: Bitcoin and other cryptocurrencies tend to be locked together â and thatâs a big problem | Markets Insider
Bitcoin and other cryptocurrencies all peaked at roughly the same time; they’ve since declined in tandem as well.
That’s a bad sign for when market consol…
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Compliance officers sweat as cryptocurrency trades go mainstream | Reuters
As major financial institutions weave themselves deeper into the patchwork of cryptocurrency trading, they are trying to figure out how to handle conflicts that could arise when employees trade digital coins in their personal accounts.
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EY Blockchain Leader Says Firms Need Long-Term Plan for Bitcoin – Bloomberg
Angus Champion de Crespigny, EY Americas blockchain leader, discusses the selloff in Bitcoin with Bloomberg’s Julia Chatterley, Scarlet Fu and Joe Weisenthal on “What’d You Miss?” (Source: Bloomberg)
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Ex-PayPal President: Facebook Messenger Unlikely to Support Crypto - CoinDesk
Facebook Messenger is unlikely to embrace cryptocurrency payments anytime soon according to David Marcus, Facebook’s vice president of messaging.
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Iceland is getting a large cryptocurrency mine that runs on what?
Answer: 100 percent clean and sustainable energy.
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Coinbase Confirms 4 Banks Blocking Bitcoin Credit Card Purchases - CoinDesk
Credit card holders from four U.S. banks have been barred from purchasing cryptocurrencies using credit cards at Coinbase, the exchange has confirmed.
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Why Credit Card Users Should Thank Banks For Stopping Them Buying Cryptocurrencies
Banks in the U.S. and U.K. are declining cryptocurrency transactions on credit cards they issue. The cryptocurrency community is complaining, of course. But the banks’ action could save credit card holders lots of money.
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Samourai Wallet - Introducing batch spending for cheaper, more...
Introducing batch spending for cheaper, more efficient bitcoin transactions One of the most requested features our users have recently been asking for is the ability to combine (or batch) multiple…
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Man in the Middle Attack - Am I at risk? - Ledger
The website bitcoin.com published a blog post on Saturday, February 3rd, titled Ledger Addresses Man in the Middle Attack That Threatens Millions of Hardware Wallets. Some of the claims made in this post are unfortunately incorrect.
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Korean Exchange Halts Trading Over KYC Concerns - CoinDesk
South Korean cryptocurrency exchange Coinpia has announced it will suspend both trading and deposits after it was unable to implement a customer identification system in line with a recently enacted government mandate.
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[Lightning-dev] AMP: Atomic Multi-Path Payments over Lightning
A common question I’ve seen concerning Lightning is: “I have five $2 channels, is it possible for me to atomically send $6 to fulfill a payment?”. The answer to this question is “yes”, provided that the receiver waits to pull all HTLC’s until the sum matches their invoice.
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Ransomware Victims Hit on Average by Two Attacks per Year
A study of 2,700 IT professionals across the globe has revealed that 54% of organizations suffered a ransomware attack in the last year, and most organizations were hit more than twice, with the average number of ransomware per attacks being two.
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Law enforcement dives into dark web to try to halt drug sales
As law enforcement officials try to get a handle on the flow of opioids into New Hampshire, they’re increasingly focusing on the trading of drugs on what’s known as the dark web.
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Unicef recruits gamers to mine Ethereum in aid of Syrian children | Global development | The Guardian
Cryptocurrency scheme is part of wider UN effort to revolutionise aid with blockchain technology, increasing financial transparency
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Augur Ahead? One of the Oldest ICOs Is Almost Live - CoinDesk
In what could be one of the year’s most talked-about launches, a cryptocurrency project called Augur may soon invite its community to bet against its success.
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Singapore says no strong case to ban cryptocurrency trading | Reuters
Singapore’s central bank has been studying the potential risks posed by cryptocurrencies, but there is as yet no strong case to ban trading of the digital coins in the city-state, Deputy Prime Minister Tharman Shanmugaratnam said.
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Indonesia can't stop circulation of bitcoin: Ex-finance minister - Business - The Jakarta Post
Former finance minister Chatib Basri has said that prohibiting the circulation of bitcoin and other cryptocurrencies is not an effective way to prevent negative impacts.
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U.S. states join forces on fintech licenses | Reuters
Banking regulators of seven U.S. states have agreed to simplify the way financial technology companies can apply for licenses, in a bid to make it easier for businesses to offer their services nationwide.
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