Australian police unearth crypto laundering syndicate

Latest reports reveal that the Australian police and law enforcing agencies have traced a crypto laundering syndicate — the criminal group involved in money laundering via untraceable assets which also include cryptocurrencies and digital currencies. As per the press release by the Australian Securities and Investments Commission (ASIC), the Australian Federal Police (AFP) and the […]
Source: bitcoinwarrior
Australian police unearth crypto laundering syndicate

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Muralist Boyart receives $12278 in Bitcoin payments

Pascal Boyart has reportedly received twelve thousand and five hundred dollars ($12500) in Bitcoin payments for his public murals. Boyart, a French artist, recently had his several murals spread over in Paris. Every mural had a quick response (QR) code for donations, and Bitcoin payments leading to a sum twelve thousand and two hundred […]
Source: bitcoinwarrior
Muralist Boyart receives 278 in Bitcoin payments

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Bitcoin Cash Futures Expected to Open up US Market by Q1 2020

Bitcoin Cash Futures Expected to Open up US Market by Q1 2020

Futures contracts on bitcoin cash can be available at a CFTC-regulated exchange by the end of this year or the first quarter of 2020. This will allow institutional U.S. investors to trade on a derivative of the cryptocurrency and bring in more trading volume for BCH overall.

Also Read: HTC Adds Native Bitcoin Cash Support to Its Flagship Smartphone

Bitcoin.com Champions Bitcoin Cash Futures

Bitcoin.com is in discussions listing a bitcoin cash (BCH) futures contract on a new exchange with approval from the U.S. Commodity Futures Trading Commission (CFTC). David Shin, the head of the exchange business at Bitcoin.com, expects the new instrument can reach the market by the end of the year, or the first quarter of 2020, and that it will be cash-settled on day one.

The goal of having a BCH futures contract on a CFTC-regulated venue is to open up the U.S. market so that more institutional traders can gain exposure to the cryptocurrency and thus generate higher trading volumes in total. Additionally, there is interest from some retail brokers in offering trading on such a regulated instrument, and Shin is also in talks with them about the possibility.

Bitcoin Cash Futures Expected to Open up US Market by Q1 2020

“We are in discussion with a US exchange that will shortly be CFTC approved to list a BCH futures contract to create greater demand for BCH and increase trading volumes,” Bitcoin.com CEO Stefan Rust explains. “There are two main reasons behind this. First, with BCH futures, institutions will be to manage the exposure to market volatility better and therefore protect funds under management better, and hence allocate a larger portion of their funds to BCH. Second, with this product BCH is also accessing a new US financial services market through futures that is CFTC regulated. This is a massive market that’s new to BCH. Both of these drive up volumes which in turn drives up demand for BCH which will lead to an increase in market value. This is largely driven by futures volumes in the US market increasing demand and ultimately the value.”

Regulators Keep US Market Behind in Crypto Adoption

The Chicago Mercantile Exchange (CME Group) does offer financially-settled BTC futures contracts for U.S. investors. However, by global comparison, American regulators have made it very difficult for investors to the global cryptocurrency market with ETFs and the same is true for derivatives. For example, a number of companies have been working hard to launch regulated physically-delivered bitcoin futures contracts in the U.S., but their efforts have so far been hampered by the CFTC.

Last month the CEO of Ledgerx, Paul Chou, had to retract the news that his company went live with bitcoin futures for retail trading it received regulatory approval for swaps. Ledgerx launched its institutional trading platform back in 2017 and has been waiting ever since for the specific CFTC approval for the instrument. He also complained that the regulators were not doing their job and threatened to sue the CFTC for anti-competitive behavior and breach of duty.

Bitcoin Cash Futures Expected to Open up US Market by Q1 2020

Another trading platform recently approved by the CFTC for physically-delivered bitcoin futures is TD Ameritrade-backed Erisx. However, the most anticipated venue to enter the market is Bakkt, the digital assets subsidiary of New York Stock Exchange parent, Intercontinental Exchange (NYSE: ICE).

Back in 2018 ICE announced that the Bakkt Bitcoin Daily Futures Contract would start trading on Dec. 12, 2018. This has not happened, and the launch date has been pushed back again and again. The reason for this to media reports is the necessity of compliance with cumbersome CFTC demands. If nothing changes again, Bakkt is now expected to bring physical delivery futures contracts to market participants in more than 30 countries by the end of 2019.

The International BCH Derivatives Market

Besides some of the biggest players in the traditional finance markets trying to enter the cryptocurrency derivatives business, we have also seen companies from the digital assets industry focus on filling the same niche. Among those crypto trading venues who started offering bitcoin cash derivatives to their traders we can list Bitmex, U.K. FCA-regulated Crypto Facilities, Hong Kong-based Coinflex and Huobi Derivative Market (Huobi DM). While these types of exchanges are a good option for experienced crypto traders to get into highly leveraged long and short positions on BCH, they don’t have the global brand power of being CFTC-regulated, which will serve as a major seal of approval for the cryptocurrency in the eyes of timid investors once they launch bitcoin cash futures.

Bitcoin Cash Futures Expected to Open up US Market by Q1 2020

Bitcoin.com has already been successful in making BCH instruments more accessible to traditional investors around the world. Amun , a Swiss company facilitating access to crypto asset investments, announced in July that it had listed the first exchange traded product (ETP) tracking the performance of bitcoin cash on Switzerland’s principal stock exchange. The Amun Bitcoin Cash ETP is a fully collateralized product that is denominated in U.S. dollars and has an annual investor fee of 2.5% that includes custody, insurance, and re-balancing fees. This crypto investment instrument was seeded with 25,000 BCH from Bitcoin.com Executive Chairman Roger Ver.

What do you think about the potential for CFTC-regulated bitcoin cash futures to open up the institutional U.S. market? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

The post Bitcoin Cash Futures Expected to Open up US Market by Q1 2020 appeared first on Bitcoin News.


Source: bitcoin.com
Bitcoin Cash Futures Expected to Open up US Market by Q1 2020

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Hedera’s Performance Comes at the Expense of Decentralization, Skeptics Claim

hedera hashgraph blockchain

US-based blockchain firm Hedera Hashgraph launched its mainnet on Monday. Despite being supported by some large companies, skeptics say its blockchain version lacks key features that ensure decentralization.


How Can Hedera Handle 10k Transactions per Second?

Hedera claims to process 10,000 transactions per second (tps). The speed is incredible, considering that Bitcoin handles 2.8 tps and Ethereum can process 15 tps. However, how does Hedera manage to achieve such performance? For example, Ripple claims to be capable of processing up to 50,000 tps and compete with Visa, but it uses a kind of centralized network.

Hedera uses a proprietary algorithm called Hashgraph. It was invented by Hedera’s co-founder and chief scientist Leemon Baird. He was a professor of computer science at the US Air Force Academy and holds a Ph.D. in computer science. The point is that the Hashgraph algorithm does not require miners to validate blockchain transactions since it applies the so-called directed acyclic graphs (DAG). The latter is a technology used by IOTA and is different from a typical blockchain in the sense that it doesn’t record transactions in a single-line chain.

As for the consensus mechanism, Hedera relies on the so-called asynchronous Byzantine-Fault Tolerance (aBFT) consensus.

Hedera claims that its DAG technology and aBFT consensus ensure the high speed of transactions. However, according to Eric Wall, former cryptocurrency lead at Cinnobe, Hedera’s performance comes at the expense of true decentralization.

He said that Hedera’s proprietary algorithm and the consensus mechanism have nothing to do with the network’s performance:

“But no, that’s not it. It had nothing to do with it. They just traded off your to validate the system so they could run a smaller network with high TPS. This is the super-classic trick, I’m surprised it worked in 2019. But it worked because of those few tweaks .”

Moreover, he claims that the 10,000 figure itself is misleading and that Ethereum can perform better in terms of smart contract transactions.

HBAR Token Goes Live

All in all, Hedera’s token with the ticker HBAR goes live with a total supply capped at 50 billion tokens. The Hedera treasury is distributing the tokens starting from 01:00 UTC.

A dozen of crypto exchanges are ready to list HBAR on their platform, including Bittrex, Upbit, OKEx, OKCoin, and Galaxy Digital, among others.

As of today, anyone can open an account on Hashgraph and develop a decentralized app (dapp).

Do you think Hedera deserves to be called blockchain 3.0? Share your thoughts in the comments section! 


Images via Shutterstock, Twitter: @ercwl

The post Hedera’s Performance Comes at the Expense of Decentralization, Skeptics Claim appeared first on Bitcoinist.com.


Source: bitcoinist
Hedera’s Performance Comes at the Expense of Decentralization, Skeptics Claim

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Traders pushed the S&P 500 Index above 3000

The King Report September 17, 2019 – Independent View of the News From Monday’s King Report: Traders want to buy dips this week for option… The post Traders pushed the S&P 500 Index 3000 appeared first on ValueWalk.
Source: bitcoinwarrior
Traders pushed the S&P 500 Index above 3000

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Litecoin Foundation to Hold Undisclosed Treasury Sum with Crypto Lender

The Litecoin Foundation has tapped Celsius Network, a blockchain-based crypto lending program, to become its preferred crypto wallet.
Source: coindesk
Litecoin Foundation to Hold Undisclosed Treasury Sum with Crypto Lender

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Alchemy Opens Up Bitcoin Payment to 1.2 Million Merchants in Asia

bitcoin payments asia

Retail merchants Asia can now receive bitcoin and cryptocurrency payments via a new hybrid solution launched by Alchemy.


Alchemy Launches Hybrid Bitcoin Payment Solution

In a press statement issued Wednesday (September 18, 2019), Alchemy — a global crypto payments service provider announced the launch of the platform.

Called the Alchemy Hybrid Payment Solution, it allows merchants in Asian and Middle Eastern markets easily bitcoin and crypto payments. The service features a hybrid integration with popular fiat wallets in Asia such as Alipay, WeChat Pay, and LinePay to mention a few.

Apart from bitcoin, Alchemy’s new payment gateway offers support for more than 30 altcoins including ether and litecoin.

to the press statement, crypto payments on the platform will be settled in the local fiat currency. This feature is part of efforts to mitigate against the fluctuating value of cryptos.

As at press time, the Alchemy Hybrid Payment Solution is already live in Hong Kong and Singapore. Pricerite and Midwest Global Asia are among the first adopters on the service.

In addition to being a payment gateway, Alchemy is reportedly examining ways to extend the platform’s capabilities. Talks are already underway to include interfaces with crypto exchanges and bitcoin OTC desks.

Making Crypto Retail Payments Easier

Alchemy’s new product is the latest attempt at solving the problem of using bitcoin and cryptos in daily retail transactions. Commenting on the development, the company’s co-founder Patrick Ngan declared:

[This] is a game changer for the global cryptocurrency market as it propels cryptocurrencies towards truly becoming a global currency. It creates real-life use cases for cryptocurrencies as crypto holders can now spend their cryptocurrencies to purchase goods and services in addition to their investment functions.

Even bitcoin proponent and Twitter CEO Jack Dorsey recently declared that the cryptocurrency still has a long way to go in establishing itself as a useful mode of payment. The Square chief does, however, hold firm to his belief that bitcoin will eventually be the native currency of the internet.

In an interview on Charlie Shrem’s podcast — ‘Untold Stories,’ BTCC co-founder Bobby Lee said that bitcoin is seen mostly as an investment rather than a currency in China.

Platforms like Alchemy’s will face some competition in markets like China that already have a robust electronic payment ecosystem.

Do you think platforms like Alchemy’s can catapult bitcoin and crypto payments to the pinnacle of the electronic payment market? Let us know in the comments below.


Images via

The post Alchemy Opens Up Bitcoin Payment to 1.2 Million Merchants in Asia appeared first on Bitcoinist.com.


Source: bitcoinist
Alchemy Opens Up Bitcoin Payment to 1.2 Million Merchants in Asia

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Line’s BITMAX introduces trading of Bitcoin, Ethereum, XRP, Litecoin, Bitcoin Cash

Days obtaining a license to operate a crypto-exchange, LVC Corporation, the digital asset and blockchain-dedicated arm of Japanese messaging giant LINE dubbed BITMAX, has launched its services on 17 September. This would be LINE’s second crypto-platform Bitbox. BITMAX’s tweet announcing the same read, “Starting today, LINE’s virtual currency transaction service “BITMAX” will be […]
Source: bitcoinwarrior
Line’s BITMAX introduces trading of Bitcoin, Ethereum, XRP, Litecoin, Bitcoin Cash

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Binance Is Pitching Its Stablecoin as a Government-Friendly Libra Competitor

Binance is now positioning its Venus stablecoin project as an alternative to Facebook’s Libra, a month downplaying any suggestions of rivalry.
Source: coindesk
Binance Is Pitching Its Stablecoin as a Government-Friendly Libra Competitor

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Big Screen Entertainment Inks Deal With Leading Blockchain Firm

LOS ANGELES, Sept. 17, 2019 (GLOBE NEWSWIRE) — Big Screen Entertainment Group (OTC:BSEG) has signed a distribution and content management deal with MTonomy, a thriving blockchain-based tech firm backed by Twitter co-founder Jack Dorsey. MTonomy will carry Big Screen movies on its cryptocurrency-based VoD app and assist BSEG with rights management of its film and […]
Source: bitcoinwarrior
Big Screen Entertainment Inks Deal With Leading Blockchain Firm

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