Around 300 of the Bitcoin that were never recovered following a hack of the crypto exchange Bitfinex have moved today. The hack in the summer of 2016 cost the company $73 million at the time.The coins appear to have been moved to a total of 13 new addresses. It is the first time the coins have ever moved to new wallets, none of which have any previous transaction history.Stolen Bitcoin Makes a MoveReddit user u/jankeldidi initially brought the moving coins to NewsBTC’s attention via a post to the social news forum. In the post they show a list of 13 addresses associated with the Bitfinex hack that have been cleaned of all their Bitcoin. They also provide a link to a GitHub entry that shows more than 2,000 addresses that were used to receive coins from the affected Bitfinex users.The emptied addresses associated with the Bitfinex hack: Source, BlockchairIt appears that a total of 300 coins, worth around $1,650,000 today, have been transferred to new wallets. None of these new addresses have previous transaction history meaning the identity of the hacker will continue to remain a mystery.The hack that the Bitcoin moved today is associated with occurred in August 2016. It exploited a weakness in Bitfinex’s muti-sig system resulting in the loss of $73 million worth of customers’ Bitcoin. According to Bitcoin.com, the total number of BTC stolen was 120,000.The exchange has since managed to refund most of those impacted by the hack and has even managed to recover some of the BTC associated with the 2016 incident with the help of the US government.The Bitfinex hack of 2016 had such a dramatic impact on the fledgling crypto industry that Bitcoin prices dropped 20% on the news. Understandably, it also caused Bitfinex to withhold all services from its users for an extended period.It was actually the second such incident in just over a year. The previous occurred during May of 2015 and had a much more diminished impact on the company and wider crypto space. The hackers were only able to make off with 1,500 coins on that occasion.Another Stark Reminder to Protect Your Own CryptoAlthough this year it will be three years since the most recent Bitfinex heist, the fact that the coins are still out there should serve as a warning to all those choosing to leave their crypto on exchanges. Most of the customers impacted by this exchange hack were lucky and received their Bitcoin or the equivalent value in another currency back eventually but the time spent wondering will have been tortuous for them. What’s more, refunds are the exception in exchange hacks, rather than the rule.Since so many customers neglect to learn even the basics about private keys and the safe storage of crypto, exchanges often hold huge amounts of value on behalf of users. This serves as an extremely appealing honeypot for hackers who stand to make off with millions if they can successfully compromise a trading venue’s security. Related Reading: Cryptocurrency Exchange Hacking Jumped 250% YTD, Says ReportFeatured Images from Shutterstock and Blockchair
An online trading platform that boasts more than 11 million retail clients has been rumoured to be moving into the crypto industry. TDAmeritrade is believed to be working with Chicago-based crypto exchange ErisX to facilitate offering digital asset buying and selling on its platform.The news is just the latest example of an established platform opening up to the crypto asset industry. Previous examples such as those by Fidelity and Bakkt highlight that demand for digital currency-related services is clearly increasing, despite bearish sentiment continuing to abound.Is TDAmeritrade Bringing 11 Million Investors to Crypto?According to a report in crypto news resource, The Block, TDAmeritrade is moving into the digital asset industry. The publication cites an anonymous source “familiar with the situation” as linking the online trading platform with ErisX, a cryptocurrency trading venue based in Chicago.The story goes that TDAmeritrade is involved with testing how to link up different traditional asset exchanges with the ErisX platform. If true, this could mean that a whopping 11 million retail investors will soon have the opportunity to take on direct exposure to crypto on a platform that they are already highly familiar with.A spokesperson from ErisX declined to give the names of specific partners involved in the testing. However, they did confirm that there was indeed the aforementioned integration testing, which involved creating a “production environment with a limited number of participants to optimise the process in advance of our public launch.”SCOOP ! ErisX is testing its new crypto exchange, and TDAmeritrade is one firm looking to link up with the markethttps://t.co/9M9Pl6DVcJ— Frank Chaparro (@fintechfrank) April 24, 2019Lending additional credence to the rumours is the fact that TDAmeritrade has been busy creating a cryptocurrency-focused team. An internal message from the firm, also reported by The Block, stated that Sunayna Tuteja would take up a position as the Head of Digital Assets at the traditional asset online trading venue.Is the Market Finally Catching Up to the News?If you look at the total market capitalisation for all crypto assets since December 2017, you’d be forgiven for thinking that some terrible event happened that completely crushed all optimism for the financial revolution started by Bitcoin ten years ago.However, there has been no such black swan event. In fact, in terms of development, there has been plenty. Perhaps most telling that the demand for crypto is in the ascent rather than descent is the fact that some of the largest money managers and most established investment institutions are developing their own products and services to support the industry.The largest of these is the Intercontinental Exchange, who are currently waiting on regulatory approval for the much-anticipated Bakkt platform, along with Fidelty, the multi-trillion-dollar investment giant that recently launched its own custody platform.Evidently, there continues to be vast demand for such services from established and trusted names in the world of investments. The likes of the ICE and Fidelity are not going to put their reputation on the line for some flash-in-a-pan fad. Additionally, the fact that TDAmeritrade and the others that cannot yet be named are reportedly working with ErisX to offer their own crypto trading services only serves to highlight this further. Perhaps the recent price increases so far in 2019 finally represent this enduring interest in the of Bitcoin and other crypto assets. Related Reading: Do the Recent Trading Volume Highs Mark an End to the Bitcoin Bear Market?Featured Image from Shutterstock.
The 18-year-old rap musician Lil’ Pump has announced that his online store will accept payments for products via the Lightning Network. Fans of the artist will be able to spend Bitcoin on merchandise from Lil’ Pump’s fashion line, “Unhappy” using the innovative micropayment solution.Although such acceptance stories do not directly translate into increased Bitcoin adoption, it is worth noting that the Miami-born rapper does boast 1.24 million followers on Twitter. Likely many of these will be already familiar with Bitcoin. However, seeing it, and particularly the newer Lightning Network, offered as a payment method by an individual who they presumably admire will certainly help to cement crypto even more firmly into the public psyche.Lil’ Pump to Welcome Bitcoin Lightning PaymentsBitcoin’s Lightning Network is having a great 2019 so far. The micropayment scaling solution intended to reduce the number of transactions occurring on the main Bitcoin blockchain has been lauded by the likes of Twitter and Square’s Jack Dorsey, as well as having a host of high-profile celebrities demonstrate the network’s capabilities by sending and receiving payments as part of the so-called Lightning Torch. Notable personalities involved included Dorsey himself, Elon Musk, and even Miss Universe.We are now starting to see real businesses embrace the technology. The latest to do so is Miami-based mumble rap icon, Lil’ Pump. He will allow fans to pay for a range of t-shirts and hoodies from his clothing brand, Unhappy, using Bitcoin’s Lightning Network. The news broke via a website which monitors businesses that accept the second-layer Bitcoin scaling solution called LightningNetworkStores:⚡ New venue ⚡https://t.co/ifTSuQCDot 👕👖
Lil Pump (@lilpump) official merchandising storehttps://t.co/m9ID3qvPr0#LN #btc #lightning #bitcoin #bitcoinLNS #LightningNetwork pic.twitter.com/mIHI0fNHYE— LightningNetworkStores (@bitcoinLNS) April 24, 2019The rapper’s clothing website is the latest addition to a growing list of companies that will accept Bitcoin on Lightning Network. Many of the others listed so far are for online betting or gambling platforms, web services such as hosting, creative freelancers, and adult products/videos.A browse down the complete list of those accepting Bitcoin Lightning payments shows that no major names from conventional industries have opened up to the relatively new payment method yet. Perhaps the most well-known business accepting Lightning payments prior to Lil’ Pump’s announcement was live webcam model site LiveJasmin.However, the fact that the rapper’s 1.24 million followers (who are not necessarily into crypto or even technology) have been exposed to the Lightning Network is yet another hugely positive development for the nascent tech in 2019. It seems only a matter of time before even bigger names from more traditional industries will follow suit.Rap Musicians Quick to Embrace CryptoThis is hardly the first time a rap music icon has showed interest in cryptocurrency. Being as two of the genre’s dominant themes are money and a disdain for centralised figures of authority, it is hardly surprising that musical form has been so keen to embrace Bitcoin and other crypto assets.NewsBTC has previously reported on the likes of Eminem and Soulja Boy incorporating the world’s number one digital currency by market capitalisation into their music. The former’s latest album Kamikaze featured a tune called “Not Alike”, which is a collaboration with Royce Da 5’9′. The track contains the lines:“Remember everybody used to bite Nickel, now everybody doing bitcoin.”More brazen entirely was the track by Soulja Boy that was simply titled “Bitcoin”, which appeared on the rapper’s latest full-length album, Young Drako. The piece is hardly the critique of central banking you might hope for, however, and mostly focuses around the potential financial gains possible by investing in highly speculative digital assets. Related Reading: Meet CoinDaddy: Mink Suit Wearing “Bitcoin Rapper” and Cryptocurrency EnthusiastFeatured Image from Shutterstock.
Blockchain, the innovative distributed data storage method backing almost all of the more than 2,000 crypto assets existing today, has been often touted as a way to drastically improve the efficiency of traditional banking. However, according to the Head of Digital Market Assets at Credit Suisse, the uptake of the technology has been slower than many might have expected due to the “culture” surrounding banking.Decades after the internet revolutionised how we as a species share information, the current state of banking looks tragically dated in 2019. With the very real threat to traditional banking posed by crypto assets growing each year, Emmanuel Aidoo, of Credit Suisse, believes that 2019 will see an uptake of financial institutions using blockchain technology to improve their services.Emmanuel Aidoo: Banks Not Exactly Rushing Into BlockchainAccording to a report in Business Insider, Emmanuel Aidoo, the head of digital market assets at Credit Suisse, has stated it is banking culture that has so far slowed the adoption of blockchain technology in the financial industry. He said:“What is preventing the banking industry from rushing into it? I think it’s mostly culture… I think the tipping point is about having an entrepreneurial culture, a willingness to push people to keep asking why.”Reading between the lines slightly, it appears that Aidoo is referencing a widespread acceptance of the status quo within banking circles. For an industry that faces direct competition from mobile bank-like services, such as Square and Venmo, as well as the rise of crypto assets like Bitcoin and Ether, not moving with the times in such a way could prove very dangerous indeed.Naturally, banking struggles to innovate at anywhere near the same pace as the digital asset industry. Being entirely centralised, ways to increase banking efficiency must come from above. The sheer number of developers working on Bitcoin, Ethereum, and other decentralised payment platforms around the world make for potential innovation that cannot be matched by these financial institutions. This concept is illustrated in the following rather lengthy video by Bitcoin evangelist Andreas Antonopoulos:Aidoo continued to highlight the current stagnation in the banking industry and how it risked being left being by financial innovation occurring in less traditional avenues such as crypto:“That is really important for companies to have people who challenge themselves to ask questions about the status quo… These are people who focus on change, not change for change’s sake, but an honest reflection for why we do things — can we do things better.”The Credit Suisse head did go on to state that he believes that 2019 will be the year that blockchain technology finally makes it into the banking industry in a big way. Already initiatives such a JPM Coin – a permissioned blockchain-based system that offers almost none of the true innovation of Bitcoin and other crypto assets – highlights that the industry is starting to explore the technology. However, very few real-world examples are actually live according to Aidoo.Ultimately, the slow movement of the banking industry could be a massive boon for crypto. If banks continue to fall behind in terms of the service they can offer versus leading cryptocurrencies, the market will eventually render them obsolete by choosing to favouring these non-traditional value transfer services over more traditional banking ones. Related Reading: Could JPM Coin Be the Negative Force Behind Ripple’s Recent Price Action?Featured Image from Shutterstock.
A firm working to bring traditional financial services to those invested in crypto assets has lowered the minimum Bitcoin account balance required to receive interest payments. The move is reportedly in response to public pressure to make the service more accessible.Naturally, those wishing to use BlockFi’s interest accounts should be aware that such custodian services carry far greater risk to Bitcoin investors than if they were to take responsibility for their own private keys. High profile exchange hacks highlight the danger to those choosing to store their crypto with large centralised services such as BlockFi.BlockFi Brings Traditional Financial Services to Bitcoin InvestorsLess than one month after it originally launched its crypto interest accounts, BlockFi has updated its terms of service to lower the minimum account balance needed to receive payments. Previously, users would need to hold a full Bitcoin – worth over $5,600 at the time of writing. This has now been lowered to 0.5 BTC.The news broke via a BlockFi monthly update, posted to its blog earlier today. According to the post, the move has been influenced by large numbers of public requests:“After launching BIA, a lot of users reached out to our team asking that we drop our minimum eligible balance to earn interest. We’re excited to let our community know that BTC balances of 0.5 BTC and up will now begin earning interest on their deposits. “The change will take affect on May 1. What’s more, it will be applied retroactively, meaning all those that held balances of over 0.5 Bitcoin with BlockFi since April 1 will be paid interest on their balances too.Also detailed in the post is a change to BlockFi’s terms regarding its Ether interest accounts. Previously, the firm offered to pay interest on any Ether accounts with a balance of greater than 25 ETH. However, market conditions have apparently forced BlockFi to up this minimum threshold to 250 ETH – around $43,250 at today’s prices.Finally, the firm has also announced that it will open its services to Indian crypto investors too. Again, this has been influenced by sheer demand for the service. This brings the total number of countries eligible to use BlockFi to 65.BlockFi Making its Potential Honeypot More Appealing to InvestorsAlthough many Bitcoin investors will no doubt be delighted by the lowering of the minimum account balance required by BlockFi to take advantage of its interest account, those wishing to should do so with caution. Centralised companies offering such services that require crypto deposits have been targeted many times by hackers.The blog post proudly details the total amount held by BlockFi, which has exploded so far during 2019. From just over $10 million this February, the firm now boasts an impressive (and ultimately alluring) $53 million of client funds. No doubt, this will only increase with the latest announcement and no doubt there are teams of cyber criminals working round the clock to compromise the Bitcoin and crypto financial services company for their own gain. Related Reading: Cryptocurrency Exchange Hacking Jumped 250% YTD, Says ReportFeatured Image from Shutterstock.
Most of the world’s largest companies experimenting with blockchain are apparently doing so on Ethereum. Amongst the notable names are Fidelity, Google, and HTC.Blockchain spending has been increasing dramatically over the last few years and it looks like the number two crypto by market capitalisation is leading the way in terms of corporate adoption.Much of Ethereum’s Fabled EEA Still Interested in the PlatformFor many Ether investors, enterprise adoption is all important. In 2017, Enterprise Ethereum Alliance announcements were often accompanied by massive price surges for the number two crypto by market capitalisation. Names likes Deloitte, National Bank of Canada, Samsung SDS, and Toyota and many more were gradually added to the list. Meanwhile, investors waited for one of these massive companies to develop a killer application for the blockchain that requires the use of vast quantities of Ether, thus sending the price rocketing.Things have not exactly turned out as many had expected. The Enterprise Ethereum Alliance (EEA) has not been in the news much of late and there is no corporate use case of the blockchain that has sent the price parabolic again. However, development is clearly still going on.EEA announcements have inspired their fair share of ETH price runs in the past.Forbes has just released a list of billion dollar companies experimenting with blockchain technology. The “Top 50 Billion-Dollar Companies Exploring Blockchain” is the first part of two similar articles. It will eventually create a full top 100.The list shows that most of the world’s largest companies that are interested in distributed ledger technology are currently looking at public Ethereum or private Ethereum-derived ledgers to build applications on. Most companies featured are exploring numerous blockchains, however.Of those that prefer other blockchains, Hyperledger, IBM Blockchain, and Bitcoin all seem popular amongst the corporate giants exploring the tech.In an article detailing the new Forbes list, ConsenSys stated that 24 of the 50 billion-dollar companies are currently investigating the Ethereum public blockchain, with a further 12 using Enterprise Ethereum-derived platforms in instead.The ConsenSys piece goes on to opine:“It’s likely that the large developer community, existing standards developed by the EEA, and public compatibility are driving some of Enterprise Ethereum’s reported dominance.”What Are The Biggest of The Big Working on?Below are some of the more notable companies on the list and the specific blockchains they’re currently exploring:Amazon — Hyperledger, Gabric, Ethereum (later this year).Citigroup — EthereumCoinbase — Bitcoin, Ethereum, XRP, Lumen.Fidelity — Bitcoin, Ethereum.Google — Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, Zcash, Dogecoin, Dash.HTC — Bitcoin, Ethereum.IBM — IBM Blockchain, Stellar, Hyperledger Burrow, Sovrin.JP Morgan Chase — Quorum.MasterCard — An original blockchain built from the ground up.Microsoft — Ethereum, Parity, Corda, Hyperledger Fabric.Nasdaq — Symbiont, Corda, Hyperledger Fabric.Nestle — IBM Blockchain.Overstock — Bitcoin, Ethereum, RVN, Florin.Samsung — Nexledger, Ethereum.Visa — Hyperledger Fabric.Walmart — Hyperledger Fabric.Blockchain Spending Growing DramaticallyAccording to International Data Corp, spending on blockchain technology solutions increased by 89 percent compared to the previous year. It is projected to reach $2.9 billion this year and $12.4 billion by 2022.Meanwhile, Deloitte surveyed executives from a range of companies. The results found that 95 percent of those asked were already invested or planned to at some point this year. Related Reading: Vitalik Buterin Remains Confident About Ethereum 2.0 Development Amid ConcernsFeatured Image from Shutterstock and Enterprise Ethereum Alliance.
An early Bitcoin investor’s short-lived dream lifestyle has turned into a nightmare after the Thai navy has accused him of breaching the nation’s sovereignty. Chad Elwartowski’s SeaStead floating home is apparently too close to the Thai coastline.The idea of SeaSteading is to create a living space on a floating vessel out in international waters and not under the jurisdiction of any nation state. According to Elwartowski, the Thai military now wants both him and his girlfriend dead.Couple on the Run from Thai Authorities Over SeaSteadAs reported by the UK’s Daily Mail, a Bitcoin investor and his girlfriend have gone into hiding because of apparent threats made against the pair’s lives by the Thai military. Chad Elwartowski and Supranee Thepdet, also known as “Bitcoin Girl Thailand”, could face charges of breaching the Kingdom of Thailand’s sovereignty.NewsBTC first reported on Elwartowski and Thepdet’s successful launch of the planet’s first SeaStead early last month. Just weeks later, the two are apparently wanted dead for building it too close to the Thai coast.To those who don’t know, a SeaStead is a floating vessel designed for individuals to live in. The idea behind the SeaSteading project is to create living spaces outside of the law of the land. Elwartowski explains:“I like the idea of being able to vote with your home. If you don’t like how your community is being run, you just float to a new one.”Elwartowski, who previously worked as a US military software engineer, reportedly got the $150,000 to build his SeaStead from an early Bitcoin investment. Like Bitcoin, the SeaSteading project is particularly popular with libertarian-leaning people.According to Thai authorities, the military recently found the floating home uninhabited around 12 nautical miles off the coast of Thailand. Elwartowski refutes this, saying that his SeaStead was 13 nautical miles off the coast of Phuket island and therefore in international waters.Colonel Nikorn Somsuk, of the Phuket police force, confirmed that an official complaint had been filed today. He stated:“The navy and its team found a concrete tank floating on the sea but there was no one on it. So they filed a charge citing criminal code article 119.”If an official charge is brought against the pair, they could be sentenced to death. The Thai Navy reportedly stated via social media that the pair didn’t seek Thai permission for their Bitcoin-funded SeaStead. Evidently disrespected, the organisation went on to say that their advertising of the SeaSteading lifestyle and inviting others to join them in creating a floating home near Thailand showed no regard for the nation’s sovereignty.According to the Daily Mail, the pair state that they are on the run from a national military that wants them dead.Bitcoin’s Micro-Nation DreamersThe SeaStead project is hardly the first example of people enamoured with the freedom-bringing potential of Bitcoin attempting to set up communities outside of the rule of any nation. One such effort is Liberland, located between Croatia and Serbia. The experiment in self-determination even had an ICO associated with it to raise funds to apparently finance the non-state.Similarly, NewsBTC reported on the group behind a floating island in French Polynesia that proposed to establish a government and the launch of a digital currency of its own last year. The project seeks to establish hundreds of new floating nations, inspired by the same ideas as SeaSteading. Related Reading: Roger Ver Attempts to Create a “FreeSociety”Featured Image from Shutterstock.
One of France’s most iconic buildings lies virtually destroyed after a tragic fire consumed it last night. In response to the incident, which has moved much of the planet, a group of French Bitcoin advocates have set up a crypto appeal.The blaze is now under control but millions of euros worth of architecture and artwork has been damaged. France’s president has pledged to rebuild the once-magnificent building and the Bitcoin donations will contribute towards the effort.Bitcoin Philanthropy: French Crypto Community Appeal for DonationsThe crypto appeal was first launched by French Bitcoin advocate, journalist, and podcaster, Gregory Raymond. His Tweet states that such a philanthropic action could help prove to the lawmakers of the planet that Bitcoin can be used for good and not just the small percentage of criminal uses often cited by regulators and naysayers:President @EmmanuelMacron has announced a subscription to rebuild #NotreDame. Hey bitcoiners, let’s prove to the french authorities #Bitcoin can be an amazing way to send funds quickly, without border and for a good cause ! #bitcoinfornotredame 1JX3k1e1acXENqoKqaAtKKEdE9C2j4WsDB pic.twitter.com/Xu1zULMqL1— Grégory Raymond (@gregory_raymond) April 15, 2019Other French crypto enthusiasts have since Tweeted their support for the appeal. A group from France’s digital asset community suggested that the wallet used for donations be switched for a multi-signature address to ensure that the funds go to where the appeal’s organisers say they will. Translated, the below Tweet simply reads:“The Coin Circle will support the approach of Gregory Raymond. A multi-signature address will be put in place to give more guarantee to donors. We communicate very quickly.”Le Cercle du Coin va appuyer cette démarche de @gregory_raymond . Une adresse multi signature va être mise en place pour donner plus de garantie aux donateurs. Nous communiquons très vite. https://t.co/t9cJ6Ak7ge— Le Cercle du Coin (@AssoCDC) April 16, 2019So far, the original Bitcoin address has received just 0.02760433 BTC from 11 donations. Most of this has now been transferred to the multi-signature address below, which is yet to receive a donation:“3PxExW3bKza9SbYzdBLwvALbvX4yMDfLyX”Controlling the muti-sig wallet is Raymond, L Cercle du Coin, and David Prinçay – another committed French Bitconer.France Mourns as Cathedral Ashes SmoulderThe twelfth-century cathedral is an absolute symbol of France. It was one of the nation’s most famous landmarks. According to a BBC article, the blaze is now under control but firefighters continue to work at the scene. Meanwhile, recovery teams are trying to salvage what they can from the artwork inside the building.In terms of structural damage, the cathedral’s spire and roof has collapsed. According to the BBC, more than 500 firefighters managed to save one of the building’s bell towers.Today, the scene has been visited by thousands of Parisians who stood in silence as the firefighters tackled the inferno. Many wept for the loss of the iconic building that meant so much to the nation of France.The precise cause of the fire is still unknown. However, the Paris prosecutor’s office is considering it a case of “accidental destruction by fire.” Some experts have opined that the fire may have been linked to recent renovation work on the building.President Macron has praised the courage of those involved with putting the blaze out. The French premier also stated, “we’ll rebuild Notre-Dame together”, a message that those Bitcoin advocates behind today’s appeal have clearly taken to heart. Related Reading: How Crypto is Beating Charity Fraud and Binance is Bringing Uganda’s Children to SchoolFeatured Image from Shutterstock.
Bitcoin and most of crypto is surging once again. The entire market capitalisation for all digital assets has risen from a daily low of $171.33 billion to over $176.5 billion at the time of writing.Whilst this week has certainly been a dramatic one in terms of news events, there is nothing immediately apparent that has driven this latest bout of investor optimism. Almost every digital asset is up over the last 24-hours, with a couple of notable exceptions.Bitcoin and Leading Cryptos Post Gains Almost Across the BoardBitcoin and other digital assets are having another good day following a brief lull in recent upwards momentum. As recently as midnight last night, the leading digital asset by market capitalisation was hovering just above the $5,000 price point. Since then, the Bitcoin price has made a dramatic move upwards to its price at the time of writing of $5,225.Other crypto assets have fared similarly. The second largest digital asset by market capitalisation, the native currency on the Ethereum blockchain, has posted larger percentage gains over the last 24 hours. It traded at close to $162 as April 16 began. It has since surged to almost $170.In fact, the only cryptos in the top twenty by market cap to not post gains of at least one percent over the last day were XRP, USDT (Tether), and Bitcoin SV. Meanwhile, some performed even better than Bitcoin and Ethereum. The likes of Tezos (XTZ), and Monero (XMR) have seen the size of their markets expand by 5.68 and 4.69 percent respectively.The continued upwards momentum lends support to those crypto proponents that have been saying Bitcoin has finally bottomed after the crypto bear market of 2018. However, many are still calling for the price to retrace back to somewhere in the $4,000 to $5,000.BCHSV: The Elephant in the RoomOn an almost universally green day, there is one cryptocurrency that stands out as having a much rougher time than the rest of the market. That is of course the side of last November’s Bitcoin Cash hard fork that is championed by Australian computer scientist Craig Wright and online gambling entrepreneur Calvin Ayre.Tweets by PeterMcCormackBitcoin Satoshi’s Vision (BCHSV) has taken an absolute battering in the markets since a Binance-led mutiny of the crypto by leading exchanges. Wright has reportedly been sending letters of legal action to individuals who have claimed him to be lying about creating Bitcoin. This behaviour has angered much of the wider crypto community including some exchange executives:Do the right thing. https://t.co/z7HGsAZnmR— CZ Binance (@cz_binance) April 15, 2019Banding together, several exchanges have decided to stop supporting Bitcoin SV in a move that has divided opinion in the space. The majority think that the delisting is a positive development since it may help to destroy Bitcoin SV once and for all, something that those of the opinion that Wright is lying about being Satoshi are keen to see. Meanwhile, others have highlighted how it shows the power centralised exchanges have over a crypto’s prospects for mass adoption. Finally, some find it odd that Binance and other exchanges have chosen to delist Bitcoin SV and not a load of other assets that they feel are equally suspect.Since the exchanges have announced that they will no longer support Bitcoin SV, the price has taken an absolute nose dive. Prior to the announcement by Binance, the unpopular Bitcoin fork was trading above $70 per coin. It has since plunged to just over $55. That’s a drop of over 21% in less than two days. According to Peter McCormack, more delistings are expected to follow:So far the following have delisted BSV:
– @Bittylicious_More are coming…— Peter McCormack (@PeterMcCormack) April 16, 2019 Related Reading: Why Did Japan’s SBI Just Delist Bitcoin Cash? Potential FactorsFeatured Image from Shutterstock.
A Twitter user has received a mysterious message via the Blockstream satellite detailing a hunt for $1 million in Bitcoin. According to the correspondence, hunters must find 400 of 1,000 cryptographic keys to unlock the treasure.Each of the first three keys has been hidden at four different GPS coordinates and is available to anyone who can get to the correct location. Clues to the rest will be published at a later date and will likely involve a deep knowledge of cryptography and computer science.Forget Easter Eggs, There’s a Bitcoin Hunt in Town…The mysterious message was first brought to our attention by Twitter user @notgrubles. They state that they received the correspondence over the Blockstream satellite:Received a new message over @Blockstream Satellite. It appears to be a treasure hunt for $1,000,000 in #bitcoin, with included GPS coordinates for the first part of the hunt! 🤯🛰️🔎🗺️ https://t.co/M4mKMbQ8KU pic.twitter.com/HzkEJ8RFXc— grubles (@notgrubles) April 15, 2019According to the message, the hunt is a proof of concept for an idea that the author refers to as “proof of news”. It begins:“Welcome, Hunter.“This message should reach you at the middle of the fourth month of your calendar year, in the year 2019. If you are reading this, something has led you to search for things which bring excitement to an otherwise predictable world.”It goes on to detail a “grand Hunt” for the following prize, as described by the author of the mysterious correspondence:“The treasure which will belong to the most successful Hunters and their clan is neither gold, nor jewels, nor the pieces of worthless paper that pass for money in this sad age; instead it is Bitcoin, a digital treasure forged from deep mathematical truths, in an amount equal to $1 million.”According to the message this total has been divided into one thousand pieces “using the splitting magic of the wizard Shamir”. To win the ultimate prize, the treasure hunter must find 400 of these pieces and rejoin them “using Shamir’s spell of recombination.” Shamir here refers to Shamir’s Secret Sharing, an algorithm designed by Israli cryptographer Adi Shamir to secure a secret in a distributed way.The undisclosed sender of the message states that the hunt proposed is not the first of its kind and will not be the last either. The text goes on to challenge the recipient to prove themselves worthy of the prize by solving puzzles sporadically posted to the website SatoshiTreasure. Based on the wording of the message, all but those with the highest level of cryptographic knowledge will struggle to compete in the hunt for the $1 million in Bitcoin.The first part of the challenge is rather more accessible, however. It involves travelling to three different geographical locations out of 12. The first of the three keys is hidden at:37.784038, -122.417812 (Tenderloin, San Francisco).40.758931, -73.985099 (Broadway, New York).34.062628, -118.129485 (Monterey Park, CA).42.360342, -71.087282 (Cambridge, MA).It will apparently be available for hunters to find from noon local time on April 16.The second key is again hidden in four different locations. However, this time they’re on the other side of the world. This key will be available from April 17 at midday local time. The locations are:39.93685, 116.45426 (Beijing Shi, China).22.281185, 114.156715 (Queen’s Road Central, Hong Kong).35.654811, 139.748974 (Minato City, Japan).37.583827, 127.031035 (Seoul, South Korea).Finally, the third of the initial set of keys to unlock the Bitcoin treasure will also be released on April 17 at midday local time. This time the key is spread across four continents. The locations are:51.5082944, -0.2013407 (Notting Hill, London).0.3474019, 32.6036514 (Kampala, Uganda).-33.8881323, 151.1901988 (Camperdown NSW, Australia).-34.596118, -58.373290 (Buenos Aires, Argentina).There is currently no clue as to who is behind Satoshi’s Treasure but it will be exciting to see how the hunt for the 400 crypto clues unfolds. Related Reading: Binance Delists Bitcoin SV, BSV Price Plunges in MinutesFeatured Image from Shutterstock.