Facebook Un-Bans Crypto Ads

Facebook Unbans Cryptocurrency Ads

 

Facebook is lifting its ban on cryptocurrency ads which went into effect in January. After months of evaluation, the company decided to allow some crypto ads on its platform. Advertisers must submit a request form with details of their businesses and the types of crypto content to be promoted.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Facebook Unbans Crypto Ads

Facebook’s Product Management Director, Rob Leathern, posted updates Tuesday to the company’s “prohibited financial products and services policy.”

Facebook Unbans Cryptocurrency AdsIn January, Facebook announced the policy to “prohibit ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, and cryptocurrency,” Leathern explained. “This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices… We will revisit this policy and how we enforce it as our signals improve.”

Citing that the company has been studying the best way to refine this policy over the past few months “to allow some ads while also working to ensure that they’re safe,” he elaborated:

Starting June 26, we’ll be updating our policy to allow ads that promote cryptocurrency and related content from pre-approved advertisers. But we’ll continue to prohibit ads that promote binary options and initial coin offerings.

Which Ads are Allowed?

Leathern clarified that there are some restrictions so not all ads will be allowed. “We’ll listen to feedback, look at how well this policy works and continue to study this technology so that, if necessary, we can revise it over time,” he wrote, adding:

Advertisers wanting to run ads for cryptocurrency products and services must submit an application to help us assess their eligibility — including any licenses they have obtained, whether they are traded on a public stock exchange, and other relevant public background on their business.

Facebook Unbans Cryptocurrency Ads
Request form provided by Facebook.

The application form entitled “Cryptocurrency Products and Services Onboarding Request” consists of six questions.

The first question plainly asks “why are you applying?” The applicant can choose between three options or provide their own reason. The first option is “Cryptocurrency products and services.” The second option is “Education on cryptocurrency” and the third option is “Cryptocurrency industry news.” However, the company reiterated, “As a reminder, initial coin offerings (ICOs) are prohibited under our Prohibited Financial Products and Services Policy.”

The second question asks whether the applicant has a Facebook Ad Account ID. Those who do not must create an ad account. The third asks about the applicant’s website domain and business details such as any licenses or regulatory certification the business holds, and if the business is a public company listed on a stock exchange.

Facebook Unbans Cryptocurrency Ads

The fourth asks for business information including an address. The fifth question asks for a brief description of products or services or other crypto-related content the site intends to promote while the final step requires the applicant to agree to the “Facebook Cryptocurrency Ads Addendum.”

In addition, the form asks the applicant to declare their domain(s) used in the crypto-related promotion:

You must verify your domain(s) associated with this application…we reserve the right to deny any application or withdraw eligibility at any time without notice. Eligibility may be subject to such conditions and restrictions as Facebook may decide.

What do you think of Facebook allowing approved crypto ads? Let us know in the comments section below.


Images courtesy of Shutterstock and Facebook.

 

Facebook is lifting its ban on cryptocurrency ads which went into effect in January. After months of evaluation, the company decided to allow some crypto ads on its platform. Advertisers must submit a request form with details of their businesses and the types of crypto content to be promoted.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Facebook Unbans Crypto Ads

Facebook’s Product Management Director, Rob Leathern, posted updates Tuesday to the company’s “prohibited financial products and services policy.”

Facebook Unbans Cryptocurrency AdsIn January, Facebook announced the policy to “prohibit ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, and cryptocurrency,” Leathern explained. “This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices… We will revisit this policy and how we enforce it as our signals improve.”

Citing that the company has been studying the best way to refine this policy over the past few months “to allow some ads while also working to ensure that they’re safe,” he elaborated:

Starting June 26, we’ll be updating our policy to allow ads that promote cryptocurrency and related content from pre-approved advertisers. But we’ll continue to prohibit ads that promote binary options and initial coin offerings.

Which Ads are Allowed?

Leathern clarified that there are some restrictions so not all ads will be allowed. “We’ll listen to feedback, look at how well this policy works and continue to study this technology so that, if necessary, we can revise it over time,” he wrote, adding:

Advertisers wanting to run ads for cryptocurrency products and services must submit an application to help us assess their eligibility — including any licenses they have obtained, whether they are traded on a public stock exchange, and other relevant public background on their business.

Facebook Unbans Cryptocurrency Ads
Request form provided by Facebook.

The application form entitled “Cryptocurrency Products and Services Onboarding Request” consists of six questions.

The first question plainly asks “why are you applying?” The applicant can choose between three options or provide their own reason. The first option is “Cryptocurrency products and services.” The second option is “Education on cryptocurrency” and the third option is “Cryptocurrency industry news.” However, the company reiterated, “As a reminder, initial coin offerings (ICOs) are prohibited under our Prohibited Financial Products and Services Policy.”

The second question asks whether the applicant has a Facebook Ad Account ID. Those who do not must create an ad account. The third asks about the applicant’s website domain and business details such as any licenses or regulatory certification the business holds, and if the business is a public company listed on a stock exchange.

Facebook Unbans Cryptocurrency Ads

The fourth asks for business information including an address. The fifth question asks for a brief description of products or services or other crypto-related content the site intends to promote while the final step requires the applicant to agree to the “Facebook Cryptocurrency Ads Addendum.”

In addition, the form asks the applicant to declare their domain(s) used in the crypto-related promotion:

You must verify your domain(s) associated with this application…we reserve the right to deny any application or withdraw eligibility at any time without notice. Eligibility may be subject to such conditions and restrictions as Facebook may decide.

Authored by: Kevin Helms

First Published on: Bitcoin.com

Date of publication:’

What do you think of Facebook allowing approved crypto ads? Let us know in the comments section below.


Images courtesy of Shutterstock and Facebook.

FBI-banner

FBI Currently Investigating 130 Crypto Related Cases

The Federal Bureau of Investigation has reportedly revealed that it is working on 130 cryptocurrency-related investigations, citing an increase in illegal activity facilitated by crypto payments. These cases “encompass crimes such as human trafficking, illicit drug sales, kidnapping and ransomware attacks.”

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

FBI’s 130 Crypto-Related Cases

The Federal Bureau of Investigation (FBI) reportedly “has 130 cases tied to cryptocurrencies,” according to Supervisory Special Agent Kyle Armstrong. Speaking at the Crypto Evolved conference Wednesday in New York, he was quoted by Bloomberg:

The cases ‘threat tagged’ to virtual currencies encompass crimes such as human trafficking, illicit drug sales, kidnapping and ransomware attacks.

FBI Currently Investigating 130 Crypto-Related CasesArmstrong is in charge of the FBI’s virtual currency initiative, which has been around for about three years, the publication noted.

While acknowledging that his agency “takes a neutral view on digital tokens, he noted several pros and cons,” the news outlet conveyed and quoted him explaining that the FBI has noticed an increase in illegal activity facilitated by cryptocurrency payments. “There are thousands of cases in the bureau, so it is a small sliver at this point,” he elaborated.

Crypto Use on the Dark Web

According to Armstrong, “the opioid epidemic” has become a focus of the FBI as the agency sees “a surge in drug abuse,” enabled by the dark web. Moreover, he claimed that the agency has also “seen a significant rise in extortion schemes related to virtual currencies on the southwest border of the U.S.”

FBI Currently Investigating 130 Crypto-Related CasesIn its budget request for Fiscal Year 2018, the FBI asked for “80 positions and $21.6 million” to improve its investigative technology to combat cybercrime. The agency cited, “Some of our criminal investigators face the challenge of identifying online pedophiles who hide their crimes and identities behind layers of anonymizing technologies, or drug traffickers who use virtual currencies to obscure their transactions.”

On Monday, the House of Representatives unanimously passed a bill to help prevent the illicit use of cryptocurrencies including bitcoin, dash, zcash, and monero. This bill shortly follows a testimony by a high-ranking official of the U.S. Secret Service before the House of Representatives Financial Services Subcommittee on Terrorism and Illicit Finance. He asked Congressfor help in preventing the illicit use of cryptocurrencies.

Furthermore, the U.S. Department of Justice announced Tuesday that it has seized “nearly 2,000 bitcoins and other cryptocurrencies, with an approximate value of more than $20 million,” in a nationwide undercover operation targeting darknet vendors.

Authored by:  Kevin Helms

First published: https://news.bitcoin.com

Date of publication: 28.06.2018

Images courtesy of Shutterstock.

shutterstock_118215940-32811_689x240

Failed Breakout Revives Bitcoin’s Bull-Bear Tug-of-War

 

Bitcoin’s retreat from Sunday’s high of $7,779 has poured cold water over the bull mood generated by the weekend’s positive price action and neutralized the immediate outlook.

BTC closed on Sunday (as per UTC) above a key falling trendline resistance level, signaling a short-term bullish-to-bearish trend change. A bullish crossover between the 5-day and 10-day moving average (MA) also favored a short-term positive price action.

However, bitcoin suffered a rising wedge breakdown (bearish pattern) in the U.S. hours on Monday, signaling that the corrective rally from the recent low of $7,040 had ended.

In the end, the failed breakout was no surprise, as low trading volumes had warned of a bull trap.

At press time, the cryptocurrency is changing hands at a four-day low of $7,426 on Bitfinex, down 2.5 percent over 24 hours.

Daily chart

The above chart shows that bitcoin is back inside a falling channel and risks a quick drop to $6,980 (triangle support) if the bulls fail to defend the support at $7,260 (May 24 low).

Further, the rising-wedge breakdown as seen in the 4-hour chart below, also indicates the corrective rally has ended and prices could soon revisit the recent low of $7,040.

4-hour chart

Still, the overall outlook may be more neutral, with bitcoin creating a doji candle on the 4-hour chart above, signaling indecision in the marketplace.

If the current 4-hour candle closes below $7,732, it could bolster the already bearish technicals (failed breakout). Meanwhile, if the current 4-hour candle closes above $7,500, bitcoin could revisit $7,700.

View

  • Bitcoin’s drop back inside the falling channel as seen in the daily chart indicates the immediate upward pressure has eased.
  • Acceptance below $7,260 would confirm the corrective rally has ended and could yield a drop to $6,980 (triangle support).
  • A daily close below $6,980 would signal a revival of the sell-off from the record high of $19,891. In this case, BTC could revisit and possibly break below the February low of $6,000.
  • A short-term bullish revival is seen only above Sunday’s high of $7,779.

Tug-of-war image via Shutterstock

Agnes-Water-beach-760x400

Australia’s First ‘Digital Currency Town’ Accepts Bitcoin to Boost Tourism

Agnes Water Australia’s First ‘Digital Currency Town

Australian beach town Agnes Water is billing itself the country’s first ‘digital currency town’ in an effort to attract international digital-savvy travelers to boost its primary industry, tourism.

Over 30 local businesses including accommodation providers, tour operators, restaurants and even the local pub in Agnes Water are now accepting cryptocurrencies, despite being a town of a mere 2,000 permanent residents. ‘Welcome to Agnes Water-1770, Australia’s First Digital Currency Town’ reads a billboard in welcoming visitors driving in, with support for cryptocurrencies including bitcoin, bitcoin cash, NEM, litecoin and ethereum.

Source: Facebook/NEM

 

The beach town’s initiative to embrace cryptocurrency payments stems from local real estate agent Gordon Christian who began looking into accepting cryptocurrencies after a client, a local business owner, explored how to go about processing a bitcoin payment from a customer. Soon enough, Christian’s interest was piqued further when he learned that Brisbane International Airport, a five-hour drive from Agnes Water, had begun accepting cryptocurrencies at a number of retail storefronts.

Selling the idea to local businesses wasn’t hard, he revealed. “We started from the ground up, shared it with a couple of businesses and they were straight on board … I guess they were international travellers themselves and had heard of these types of payments,” he told ABC News. “Initially we had a good 10 businesses that just said, ‘Fine — let’s go for it’.”

Local tourism operator Arty Cipak added:

“If it’s going to take cryptocurrency to get tourists to town, then bring it on.”

Presently, 31 local businesses including resorts, backpacking establishments, tour companies and eateries are now accepting cryptocurrency payments through a point-of-sale app developed by TravelbyBit, a Queensland-based crypto payments startup.

“We’ve got merchants all over Australia but they’re very sporadic,” TravelbyBit CEO Caleb Yeoh said. “[Agnes Water and] the Town of 1770 has the highest concentration.”

While it’s early days, Australia’s first ‘digital currency town’ could soon lure a nice group of international tourists to Agnes Water rather than mainstream destinations, according to the crypto executive.

“The town has made a very strategic move in trying to appeal to a niche market to take perhaps some of those tourists … to come out to their little part of the woods,” he said.

Yeoh added:

“If you travel around the world you have to deal with multiple currencies, the exchange rate can be confusing, sometimes you struggle to find ATMs, and sometimes you get swindled by money changers. Travelling with one global currency like Bitcoin … makes sense.””

Agnes Water beach image from Shutterstock.

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Authored by Samburaj Das

Steve Woz

Only one Decade Between Us and a Blockchain World: Steve Wozniak

Blockchain Next best IT Revolution

Bitcoin, and cryptocurrencies in general, have gained a lot of popularity over the last year, with hopes of reaching new highs soaring, as well as them getting attention by various technology entrepreneurs and enthusiasts during many different events happening around the world. The ‘We Are Developers’ World conference in Vienna, Austria was one of this events. The conference attracted over 8,000 visitors from 70 countries, all of them people wanting to see the world move into its next phase of technological evolution.

During this event, Apple co-founder Steve Wozniak (often referred to by the nickname “Woz”) commented in his opening speech on cryptocurrencies, saying that “blockchain is the next major IT revolution that is about to happen.” He also emphasized that it is a great technology capable of sharpening the future of the technology sector.

Before, last October at the “Money 20/20” Conference in Las Vegas, the Apple co-founder endorsed cryptocurrencies by saying, that Bitcoin was better and more stable than gold and the US dollar. This statement was sure the most captivating headline in the technology sphere at the tail end of last year.

Woz, at the Vienna Conference, also added, that blockchain technology was not yet suitable for all applications, but if being refined, there was a possibility of reaching its full potential in the next decade. He then quoted Jack Dorsey, the CEO of Twitter – who predicted two months ago “bitcoin will become the world’s single currency.

Earlier this year, at the Global Business Summit in February, Woz mentioned, he still believed that bitcoin was a currency that was not manipulated by the government, that it’s mathematical, pure and cannot be altered. He then later realized that level of purity requires the sacrifice of a level of security.

Featured Image via WikiMedia.

Authored By Zoran Spirkovski

First Published: May 28, 2018

 

Simp-feat-1068x1068

The Simpsons are Crypto Cool

The Simpsons are Crypto Cool

Crypto is set for yet another banner year, especially if mainstream portrayals of it are any indication. Marvel Comics’ Hunt for Wolverine – Adamantium Agenda #1 and The Simpsons: Tapped Out video game are both working-in references to cryptocurrency into their respective storylines and quests in attempt to capture some of the excitement regarding money’s future.  

Also read: Alec Baldwin’s Lambo Movie Backed by Crypto Tech

Marvel, The Simpsons Go Crypto

Mobile games have been the rage for years now, and among the so-called freemium games, The Simpsons: Tapped Out is a very popular choice within the genre. In the world of the game itself, Who Shot Mr. Burns, Part 3 (2018) is what’s known as the third minor event of this year, and is the 35th minor event in the game’s history. It comes directly after The Springfield Jobs 2018 Event which ends in just a few days. Crypto Cool is a limited-time quest-line, and it is the first quest in the series.

Marvel, The Simpsons Go Crypto

Crypto Cool begins as per usual: Homer is not taking his nuclear power plant job seriously, playing games on his tablet instead of working. Players are to keep the nerdy character Martin talking about blockchain, mentioning it a zillion times, never explaining exactly what it is he’s talking about. At a key point in the game, Martin admits he’s only heard of of blockchain “last week. But now I act like I’m an expert on it,” echoing a very real occurrence in the current ecosystem.

 

Available in iOS, Android, and Kindle Fire, The Simpsons: Tapped Out has been around for over half a decade, and is owned by EA Mobile. The game seems to print cash, having earned much more than $100 million due to in-game purchases as players attempt to progress. And at still another point in the game, Martin references the world’s most popular cryptocurrency, bitcoin. He brags at having “mined some bitcoin with my computer, and then the value went through the roof.” Players who complete the task with Martin are then asked to get three more characters to mine bitcoin on their devices.

Enthusiasts are hip to the fact this isn’t the first cartoon-oriented theme to reference crypto. Bitcoin has seen light on shows like Supernatural, Family Guy, among others. The Good Wife, Almost Human, Person of Interest, and House of Cards have also kissed the phenomenon’s metaphorical ring, as it were. For The Simpsons, of course, this isn’t a first either. About five years ago, Krusty has to admit he’s busted because “all it takes is bad luck at the ponies, worse luck in the bitcoinmarkets.” A year later, Jimbo is advertising his bullying services, adding he “accepts bitcoin.” As far back as 1997, The Simpsons also alluded to cryptography with scenery in the background: a store called Crypto Barn, A Place for Codes.

 

Marvel Comics’ Hunt for Wolverine – Adamantium Agenda #1

Written by Tom Taylor and illustrated by RB Silva, Marvel’s Hunt for Wolverine – Adamantium Agenda #1 is the story of how, at one point, Wolverine rescued New York City by essentially helping it avoid being hit by a bomb. The act evidently involved self sacrifice, saving the entire city. After, he is nowhere to be found. Iron Man, Spider Man, Luke Cage, and Jessica Jones all join in the adventure, involving black markets, familial cliffhangers, and more.  

Marvel has been around in one form or another for nearly 80 years. Now owned by The Walt Disney Company, Marvel Comics boasts creators such as Stan Lee, Jack Kirby, and Steve Ditko. Black Panther, Spider Man, Iron Man, Captain America, Wolverine, the Hulk, Thor,  Daredevil are among its most notable heros. Marvel has captured slightly more market share than chief rival DC Comics.

Because it is ruled by math, and its distributed ledger tech is immutable, Hunt for Wolverine assumes bitcoin as a universal power delivery system often used by robots. At one point, without giving too much away, Tony Stark needs to make payments. It is assumed, considering the type of characters he’s dealing with, he’ll used the usual unmarked cash. This time, instead, he must use cryptocurrency. And reference is made to crypto’s “risky” reputation, to which Tony Stark has a hilarious response.

Both The Simpsons and Marvel have incredible reaches, from average gaming Joes to nerds perhaps more inclined toward crypto. Any push into mainstream culture seems to help ease fears and dispels mystery surrounding decentralized money. And that can only be a good thing.

Are video games and comics important avenues to encourage crypto curiosity? Let us know what you think of this subject in the comments below.

Images via Pixabay, Twitter

Authored by: C. Edward Kelso

Bio
C. Edward Kelso’s main passion is to remove coercive minders from mediums of exchange, expose sound money to folks traditionally denied capital market access, all in the hope of increasing peace and prosperity.

 

WBF-NYC-Header_TNABCUpdate-1-696x391

World Blockchain Forum – New York’s Better Blockchain Conference

New York’s Better Blockchain Conference

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

With a new focus on security tokens and financial regulation, Keynote delivers their seventh World Blockchain Forum, the first ever in New York. Final ticket release begins 29th May.

Having produced two of 2018’s biggest bitcoin and blockchain events in Miami and Dubai, Keynote is honored to bring the World Blockchain Forum to the Big Apple as they host the first [WBF: Security Tokens & ICOs] on 12th and 13th June.

Held at Manhattan’s Metropolitan West, the intimate two day event includes a change in format with ‘ICO Pitch Panels’, where ICO projects will use a panel discussion platform to showcase their product moderated by blockchain visionary Moe Levin. Attendees will experience a comprehensive introduction from high profile industry experts including Vanessa Grellet, Bruce Fenton and Salil Donde, knowledgeable in not only blockchain and financial regulation but the complexities of Wall Street, offering invaluable insight into the future of security tokens.

Announcing lead partnerships with Victory Square Technologies and Polymath, this WBF speaker line up is set to deliver a groundbreaking agenda rounded off by Victory Square Director Peter Smyrniotis awarding the top 3 ICO/STO panelists with $100,000 shared investment.

In addition, WBF Dubai Environmental Sponsor Climate Futures, will return for WBF New York, after having retired over $14,000 in 1PLANET tokens to balance the carbon footprint of over 600 international flights to Dubai.

In a saturated environment of corporate blockchain events en masse, WBF maintains its 7-year long ambition to connect individuals and develop international relationships, giving sponsors a personal and rewarding experience long term. Projects wanting to exhibit alongside WBF regulars bitcoin.com and Academy School of Blockchain are advised to move quickly to secure limited last space in the vibrant Exhibiting & Networking Hall.

For final sponsorship and exhibiting availability please contact Tom Lunn at [tom@keynote.ae]

WBF New York speakers include:
Alex Mashinsky – Founder & CEO, Celsius
Bruce Fenton – Founder & CEO, Chainstone Labs
Salil Donde – CEO, AlphaPoint
Nick Spanos – Co-founder, Zap.org
Trevor Koverko – CEO, Polymath
Vanessa Grellet – Executive Director, ConsenSys
Halsey Minor – Founder, CNET
Oliver Gale – Executive Director, Bitt
Dawn Newton – COO, Netki
Veronica McGregor – Partner, Goodwin
Paul Puey – CEO, Edge
Jason King – Co-founder, Academy
Gabriel Abed – Chairman, Bitt
Steve Dakh – Ethereum, Aeternity, Kryptokit

“Though bitcoin and blockchain technology is rapidly becoming more understood, security tokens remain a black-box to most people. Which is strange, because as far as I can tell, the only real way to unlock the next trillion dollars of value in the ecosystem is by digitizing the traditional financial world through security tokens.” said Moe Levin, Founder and CEO of Keynote. “Showcasing the best and brightest in the industry has been the aim of Keynote since 2012, and we’re excited to be bringing the 7th edition of the World Blockchain Forum to New York City.”

For a full list of speakers visit: newyork.keynote.ae/speakers/
Last tickets can be purchased at: newyork.keynote.ae/tickets/

About Keynote
Keynote was launched in 2012 by blockchain strategist Moe Levin. Further information and details about Keynote and their events can be found at keynote.ae

For media inquiries, please contact Amandah Hendricks at amandah@keynote.ae

Supporting Link
https://goo.gl/NNQVs5

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

GoTenner team

GoTenner Launches a Bitcoin wallet that Works without the Internet

If James Bond needed to use bitcoin on a secret mission in the jungle, he probably couldn’t drop by a Starbucks to use the wifi.

Since internet connections aren’t always available, reliable or private, cryptocurrency users need alternative ways to connect to the network. So the New York-based startup goTenna, founded in 2012 by Brazilian siblings Daniela and Jorge Perdomo, is partnering with Samourai Wallet to launch an Android app this summer that allows users to send bitcoin payments without an internet connection.

Announced Monday, the txTenna app will enable users to sync up their mobile with a goTenna device, which costs $179 per pair, then toggle the wallet app’s settings to transact offline and send the bitcoin.

“You need to be able to spend your bitcoin even in disaster areas,” goTenna engineer Richard Meyers told CoinDesk, citing the Perdomo siblings’ recent work in Puerto Rico, where goTenna devices helped people reconnect after Hurricane Maria. “As long as you have a way to charge your phone, you can be up and meshed and communicating.”

The signal needs to be within roughly a mile of another goTenna device to relay the message across the mesh network, a decades-old system for using the internet without wifi or a landline. So far, goTenna has sold more than 100,000 devices that let users tap into the mesh network.

If the offline bitcoin user is within a mile of another active device, the transaction could bounce across the mesh until it reaches a user with an internet connection.

“It offers an alternative that is more censorship-resistant,” Meyers said, adding:

“It’s going to obscure who you are and where you’re at when making these transactions. So that’s a big privacy advantage there.”

This system uses a free, unlicensed radio frequency, and it isn’t the first partnership to explore such potential for cryptocurrency networks.

It takes a village

Stepping back, a variety of projects since the Cold War have used relatively cheap and mobile radio setups to broadcast across firewalls and oceans.

Last year, renowned cryptographer Nick Szabo and blockchain engineer Elaine Ou published a proposal detailing how weak-signal radio transmissions could help boost security and the diversity of connections across the bitcoin network.

Then, in December, after the U.S. Federal Communications Commission repealed “net neutrality,” fans of ethereum, the world’s second most popular blockchain network, started flocking to mesh network technology meetups.

When net neutrality rules expire next month, internet service providers will no longer be barred from favoring or blocking specific websites and communities. It’s an opportune moment for censorship-resistant tools for bitcoin transactions.

Perhaps the most important aspect of txTenna is that the cryptocurrency wallet will be an open source project.

Indeed, it was Samourai Wallet’s open source communication tools on Github that first inspired goTenna’s team to reach out to the bitcoin startup. The same txTenna code could theoretically be applied to iOS wallet applications as well.

As Meyers explained:

“It absolutely could work with any software wallet and they [Samourai Wallet developers] are not writing it specifically for the Samourai wallet anyway. It will be something any wallet provider could send transactions through.”

Authored by: Leigh Cuen

First published: May 14, 2018 at 21:10 UTC  
Featured on : https://www.coindesk.com
Image https://techcrunch.com

 

MT Gox Image

Hedge Funds Are Reportedly Racing to Buy Mt Gox Creditor Claims

nternational hedge funds are said to be moving to purchase claims held by customers of failed bitcoin exchange startup Mt Gox.

The Financial Times reported this morning that as many as four hedge funds are moving to buy claims related to the Japan-based bitcoin firm, seeking a possible windfall should creditors be made whole.

Documents obtained by CoinDesk indicate that Argo Partners, a New York-based firm that focuses specifically on investing in failing or bankrupt companies, is among those seeking to purchase claims.

Argo Partners did not immediately respond to a request for comment.

That hedge funds would be interested in the claims of Gox customers is perhaps unsurprising.

The process of unwinding the exchange, which collapsed in early 2014, is likely to drag on for years given the slow progress in the creditor process as well as the pending trial of Mt Gox CEO Mark Karpeles, who was released on bail last July.

There’s also a wide pool of potential claims sellers to pursue. Creditors have claimed hundreds of millions of dollars in outstanding claims since the exchange entered bankruptcy.

Should global hedge funds become involved in the process, it would offer a new twist on an industry-defining narrative.

Gox, once the world’s largest bitcoin exchange by trade volume, collapsed dramatically following months of growing operational problems. Karpeles was arrested on suspicion of fabricating volume data and was later charged with embezzlement.

The demise of Gox set the stage for much of the regulatory response to bitcoin in the years since, particularly in Japan, which has moved to bring the country’s bitcoin exchange ecosystem under existing financial statutes. Japanese lawmakers have cited Gox’s failure as a key driver in the regulatory push.

Authored by: Stan Higgins

First published: Feb 13, 2017

Liberstad-2_1600-1068x1068

Property bought with Cryptocurrency

Liberstad for the Libertarians

With slogans like “taxation is theft”, Liberstad is attracting more and more libertarians from around the world, local media reports. According to its website, 112 people have already bought land plots in the “anarcho-capitalist city” established on farmland, not far from Kristiansand in Southern Norway. The buyers come from 28 countries, including Norway, neighboring Sweden, distant Brazil and the United Kingdom. Another 500 potential investors have signed up on a waiting list.

The plots are sold for as little as 75,000 Norwegian Kronor, or $9,400 dollars for 1,000 m2, and as much as 375,000 NOK ($47,100 USD) for 5,000 m2. Payments in 27 different cryptocurrencies are currently accepted, including bitcoin cash (BCH) and bitcoin core (BTC). The team behind Liberstad plans to start handing over the purchased plots by 2020, when the first residents will be able to move in.

The project, that news.Bitcoin.com told you about during the presale last year, aims to be “a voluntary, profit-based, private enterprise that offers protection of life, freedom and property within a particular area.” Its founders claim that a private city is not a utopian idea but a business model in which the main elements are already known and simply transferred to “the market for living together”.

Investors from 28 Countries Own Land in Norway’s “Private City” LiberstadLast summer, John Holmesland and Sondre Bjellås, bought the Tjelland farm in the municipality of Marnardal, where the city is located. Since then they have promoted the project and informed about its progress through social media and the Liberstad’s blog. In December, they announced that local authorities had granted concession and permission for ownership of the agricultural property where the city is being developed.

Private Police and Other “Public” Services Planned

John Holmesland told the Norwegian outlet Local that Liberstad was inspired by Atlantic Station, a similar project within the city of Atlanta in the US state of Georgia. He and his partner want to eventually set up a private police force, a fire department, and a water utility for the city’s residents. Companies will be invited to provide these and other private (public) services.

Investors from 28 Countries Own Land in Norway’s “Private City” Liberstad“The only thing we demand is that you respect the principle of non-aggression and private property rights,” its founders state. According to local media, they may run into some issues in their attempt to achieve all that. Their plans have been dismissed by some Norwegian officials.

“It may be that someone comes and settles there, but establishing a state within the state is not realistic,” Labor Party deputy Kari Henriksen told NRK, the Norwegian state-owned broadcaster. Henriksen, who is representing the local Vest-Agder constituency in the Norwegian parliament, believes that the residents of the “private city” will be dependent on the rest of the society in many ways.

A similar project is the Free Republic of Liberland established on a disputed territory between Croatia and Serbia. It was proclaimed by the Czech libertarian Vít Jedlička in 2015. Another example worth mentioning is the Seasteading Institute’s plan to develop a floating city in the Pacific Ocean as a “permanent and politically autonomous settlement”.

Authored by:Lubomir Tassev

First published on https://news.bitcoin.com/