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Little Choice Left for US Residents Seeking a Reliable Crypto Debit Card The email doesn’t give any details as to why the crypto card service program is coming to an end. News.Bitcoin.com reached out to Shift support but has yet to receive a reply concerning the matter. Shift was partnered with Metropolitan Commercial Bank, a financial provider known for its partnerships with other cryptocurrency service providers. The move leaves the U.S. Shift customers in 46 states with only one reliable option, the Bitpay Visa card. Although there are other lesser known card operations in the works, none of them are worth discussing because some of the projects lack a physical card right now and others haven’t been around long enough to be reviewed. U.S. residents have very little options for crypto-to-debit cards. Other well-known cryptocurrency debit card service providers like Wirex, Uquid, Cryptopay, and Spectrocoin only cover the EU region and various non-U.S. countries. Customers from Europe have also had issues with crypto card operators in the past when Wavecrest Holdings, another known crypto banking provider, stopped offeringcrypto-to-debit services to EU residents. Some card operations have never returned while other companies quickly found replacement banking partners.
Bitcoin is in Danger Despite Rising, Low Peak Formation Bitcoin starts this week with just a drop. Bitcoin is trading between two levels and shows a downward trend. Many analysts present their technical analysis on February 11. Not relieved even though Bitcoin rose. Bitcoin, the market leader in cryptocurrency, has caused a low peak in the declining market structure, even though it finished last week with a rise. This week's price movement has caused a loss that erases all profits from before. The price is currently trading between two levels, but this pattern forms a pattern indicating that the price will fall further. Because prices have risen from $3,620 to $3,570 in January, they have traded in the past between support and resistance. Yesterday's downward movement increases the possibility that we will see more downward movement. The downward trend between the 4-hour price and the RSI also increases the likelihood of moving to this point. Even though the RSI creates a low hill, a decrease in deviation occurs when the price creates a high peak. Even though buying pressure has dropped, the chart shows that prices continue to rise. Important implications: First, the price of Bitcoin starts the week with a downward movement by removing the previous increase. Second, bitcoin is trading between support of $3,570 and resistance of $3,620. Third, the deviation between the price and the 4-hour RSI increases the likelihood that the next step will go down. Bitcoin (BTC) has not escaped danger even though there is an increase. Again and again it enters a downward trend. Do you think BTC will rise again?
g the alteration and its point of origin immediately detectable and traceable. Also, the proof of work feature on a blockchain requires certain information about any change in a block’s code and is much too time-consuming to falsify, as one proof of work for a single block can take ten minutes to produce. Additionally, because no one single computer system is responsible for the blockchain reaction, blockchain lacks the vulnerabilities that come when a physical computer is hacked into. It would be nearly impossible for a system built on blockchain to be hacked, because the data is spread throughout many, many locations in a peer-to-peer network that requires verification from all participants and rejects nodes that have been tampered with, making it highly secure. User identities stored on blockchain are more accurate. We’ve already seen how this works when blockchain is used in currency exchange: one blockchain-based company, Tonetag, uses three layers of encryption so that customers and merchants receive warnings about past fraudulent activity by either party before the transaction is made so they can both be sure that the other is trustworthy. For dating app users especially, this sort of increased transparency would be a major benefit. Ever met up with someone you were matched with on a dating app in real life, only to discover that person is completely different from the way they described themselves on their profile? It’s a classic problem of online dating. If dating apps employed the same blockchain verification processes that currency exchange platforms already do, they could prevent the much-feared disaster of catfishing. Blockchain code rewards its users for implementing verification processes, so identities are more accurate. That also means the data can’t be manipulated. It’s completely transparent and protects information from alterations by nature of its design. There are many documented cases of violent offenders who use dating apps to prey on and hurt others, usually women. Blockchain can even be utilized to keep predators off apps if implemented correctly and with the cooperation of law enforcement. One potential solution that utilizes blockchain technology already exists for a different purpose. A firearms startup called Blocksafe uses this tech to track weapon distribution so that individual guns can be traced to their owners and kept out of criminal hands. The blockchain tech used in Blocksafe can even log every instance when a shot is fired. If this method were utilized by Tinder and other apps, dating app users could be certain that their potential matches’ criminal histories are tracked before they even receive their first DM. Note : Get BTC Every time ! Sign up with 0.00 USD
Cryptocurrencies and Crime Statistics Opponents of cryptocurrencies often claim that crypto coins are massively being used in money laundering, drug trafficking, weapons sales, financial crimes, and terrorist financing. The media regularly publish articles about new hacker attacks on crypto exchanges or money laundering through Bitcoins. We figured out what is behind such infamy and what the scale of the problem really is. Hacks of Exchanges and Wallets Most fraudsters steal from exchanges, as often they are easier to hijack than a single wallet, and the potential income is disproportionately higher. According to Group-IB, CipherTrace, and Carbon Black, in 2018, hackers stole cryptocurrencies in the amount of $1.1 to $1.7 billion, of which $960 million came from crypto exchanges and payment systems. The number of such cases increased by 3.5 times compared with 2017, and 7 times compared with 2016. 56% of crypto thefts occurred on the exchanges of South Korea and Japan. The biggest thefts: $532 million from Coincheck $60 million from Zaif $40 million from Coinrail $31 million from Bithumb In most cases, the reasons for the theft were the vulnerability of hot wallets that held user funds. Hackers Work in Teams, Not Alone Interestingly, most hacker attacks are carried out not by loners but by teams. According to a recent study by analytical company Chainalysis, two groups of hackers were behind 60% of all registered crypto thefts and stole cryptocurrencies worth more than $1 billion. The researchers identified the hacker groups as Alpha and Beta. Alpha is a huge, tightly controlled organization that pursues not only financial goals. Beta is less organized, monitors security worse, and is entirely focused on money. ICO Fraud and Fake Accounts on Twitter According to various sources, about half to 80% of ICOs were initially created as fraudulent, as their organizers were aware that their projects could not be realized, and much of the funds raised were spent on personal or advertising purposes. At the same time, in 2017, from $5.6 to $6.2 billion was attracted using ICOs. Since ICOs are not regulated at all, their organizers have no responsibility toward investors. According to the European Cybercrime Center, in 2017–2018, scam projects led to the loss of $1.4 billion by investors. Perhaps the most striking example of ICO fraud in 2018 was the American project Centra. In the spring, a project that was advertised by boxer Floyd Mayweather and other celebrities raised $32 million by deceit, after which the leadership tried to flee the country. In November, a funny incident occurred with the Pure Bit scam project, as the startup founder first ran away with $2.7 million, and then repented and returned the money to the users. Phishing, Cryptojacking, and Extortion One of the most popular schemes to trick users is phishing creating clone sites of famous exchanges, ICO projects, and wallets (86% of fakes are MyEtherWallet). When users enter their data in a phishing program, the attackers gain full access to the victim’s account. According to the data from Kaspersky Lab, every quarter, criminals steal from $2 to $3 million in this way. Illegal mining, or cryptojacking, is also common when criminals use an infected computer for imperceptible mining to their advantage. The number of such cases in 2018 increased by 4 times, as about 13 million devices were infected with viruses. At first, cryptojacking was used for mining, and over time, it was also used to carry out DDoS attacks and other cyber crimes. The primary victims of cryptojacking are companies. According to Carbon Black, attacks on businesses accounted for one-fifth of all hacker attacks. Money Laundering Due to the anonymity and legal uncertainty of cryptocurrencies, it is customary to accuse them of money laundering. According to Europol and the U.K., $5.5 billion a year is laundered through cryptocurrencies. 97% of criminal Bitcoins are laundered through exchanges with weak AML policy. The researchers claim that the share of illegal transactions with Bitcoin decreases every year and amounts to 0.6% to 1% of all transactions (according to Japanese data, only 0.19%). According to the U.N., the annual volume of illegal transactions is $1 to $2 trillion. Against this background, $1– $2 billion seems insignificant. The total capitalization of Monero, Dash, and ZCash is $2.2 billion at the moment. Obviously, the money laundered through cryptocurrency funds is negligible. Terrorists and Drugs Cryptocurrencies have been linked with drugs since the days of Silk Road. According to official data, the turnover of the site was about $1.2 billion, the revenue was $90 to $126 million, and it was used by several thousand illegal sellers and more than 100,000 buyers worldwide. Crime Will Be Fine without Cryptocurrencies Due to the anonymity of transactions, the speed of transfers to bypass financial organizations, and the lack of need to pay taxes, cryptocurrencies seem to be ideal means for avoiding taxes, money laundering, and buying weapons. But in fact, they are not as convenient for criminals as it may seem. The numbers say that cryptocurrencies are not as popular among criminals as is commonly believed. Fiat cash is used by criminals hundreds of times more often, but this is not a reason for its prohibition. It is clear that cryptocurrencies are much less versatile and convenient than their traditional counterparts as an instrument of crime.
Litecoin Increases 12 Percent After Core Developers Announce MimbleWimble Implementation In the last 24 hours, litecoin prices have increased by more than 12%. Litecoin is now the fourth largest cryptocurrency based on market capitalization on CoinMarketCap, passing EOS. This price increase came after a blog post revealed that the Litecoin Foundation and Litecoin core developers had approached BEAM, a company that implemented the MimbleWimble privacy protocol, about the possibility of cooperation to implement MimbleWimble through the Extension Block at Litecoin. MimbleWimble is a privacy protocol that obscures transactions sent on the blockchain. The Extension Block aims to allow the network to optionally support various types of blocks on the blockchain. With Block Extension implemented on Litecoin, users can theoretically convert their standard litecoin to the MimbleWimble variant of Litecoin, enhancing the privacy features provided by MimbleWimble.
A SIM-swapping hack occurs when a hacker convinces a cell phone company representative to port another customer's phone number to the hacker's phone, one numbers of 50 different individuals to multiple iPhones in his possession from October 2018 to December 2018.
Bitfury, Commons Foundation To Launch BTC Mining Ops In Paraguay The two groups want to power Latin American mining centers with local hydroelectric power. Blockchain company Bitfury announced on Thursday, January 31, that it has partnered with the South Korean R&D-focused Commons Foundation to establish bitcoin mining operations in Paraguay. The effort is part of the foundation's Golden Goose project, which aims to establish "the world's largest cryptocurrency mining center." Under the partnership, the two organizations plan to build various bitcoin "transaction processing sites" in the South American country. The sites will reportedly receive their energy from two Paraná River hydroelectric dams: Itaipú, which straddles the border of Brazil and Paraguay, and Yacyretá, located between Argentina and Paraguay. Currently, only about 50 percent of the power produced from these two dams is used within the country. The planned mining operations may provide Paraguay with an opportunity to tap into more of its clean energy resources. "Paraguay is exploring creative ways to use emerging technologies, like blockchain and cryptocurrencies, to benefit their economy and their citizens, and this partnership with strategic allies like Commons Foundation and Bitfury will provide the infrastructure that enables them to advance those efforts," said Sandra Otazú Vera, a Paraguayan attorney and an advisor to the Commons Foundation. Bitfury and the Commons Foundation are not the only two groups looking to use renewable energy for mining-related activities. Last summer, for example, New York-based computing company Soluna announced it would develop a wind-powered center in southern Morocco as a cleaner alternative to crypto mining. The company's CEO, John Belizaire, said Soluna's "vision is to power the blockchain with clean, renewable energy that we own and control."
Kyber Network making token swap service a standalone app Kyber Network, a liquidity protocol allowing decentralized token swaps to be implemented into any application, today announced they will be launching KyberSwap as a standalone token swap service. Within this context, KyberSwap will move out of the kyber.network domain to its new home KyberSwap.com. KyberSwap is one of the most popular Ethereum DApps to swap ERC20 tokens. Existing users will be able to continue utilizing KyberSwap services at the new URL without any action needed. The current URL (kyber.network/swap) will also be redirected to the new site. In addition to making this tool standalone, Kyber has developed a brand new user interface for KyberSwap. Now users can quickly see available exchange rates directly on the landing page without the need to connect their wallet. Finally, the Kyber development team confirmed they will be launching a KyberSwap mobile app for iPhone users.
How Long Does It To Mine 1 Litecoin (LTC)? Litecoin, one of the top-5 altcoins by market cap has been a major player in the crypto realm for long. The altcoin was formed in 2011 to better on the shortcomings of Bitcoin. It has succeeded in its mission to quite an extent. Individual mining, in general, is facing one of its toughest time and the 2018 bear markets are one of the biggest contributors to the declining individual mining community. Litecoin, however, has ensured that it’s still possible to mine it using traditional methods. Litecoin has a block time of 2.5 minutes when compared to Bitcoin’s Block time of 10 minutes, so with a right set of mining gear, you can mine Litecoin 4X faster than Bitcoin. The current block reward for Litecoin is 25 LTC. Coming to the question of how long does it take to mine 1 LTC? The answer is little complicated as the block reward of 25 LTC can be earned with the right set of equipment every 2.5 minutes. We will look at various factors in litecoin mining to reach a conclusive time. Litecoin Mining Litecoin’s main focus was to create a network similar to Bitcoin Blockchain but without the scalability issues that Bitcoin face even today. Litecoin makes use of Proof Of Work just like Bitcoin but instead of using SHA-256 hashing algorithm it makes use of Scrypt algorithm. The major difference between the two algorithms is the use of computational power, while SHA-26 favors mining machines which have higher computational or processing power, on the contrary, Scrypt favor those machines which have a larger Random Access Memory (RAM) Scrypt algorithm makes Litecoin easier to mine with a simple home-based PCs, while the aim for Bitcoin was similar but the increasing mining difficulty and crowded mining scene has made it impossible to make a profit with a CPU based mining rig or even GPU mining rigs. The mining rigs have already moved into its third phase of ASIC chip based rigs, as these are most suitable and power-efficient machines. Earlier it was CPU rigs, then we moved to GPU based rigs and now finally we are at ASIC rig. if you want to be a pro and earn good mining rewards you should opt for ASIC mining, as these are the most up-to-date technology wise and can guarantee a maximum profit. You May Also Read: Litecoin Mining The mining Process As we were discussing earlier, the mining process has become a legitimate business, and people have realized that it is one of the easiest ways to earn the crypto riches. But, since the mining scene is already crowded and mining farms have already hijacked the scene with the abundance of resources, it’s next to impossible to put in enough computational power and earn complete Block Reward. It’s better to join a mining pool where you contribute your computational power along with a few others and whatever mining reward is earned by the group gets divided according to the computational power you have put in. Although ASIC based mining rig can help you earn a few LTC coins, its best to join a mining pool as the initial cost of setup might be hefty. The Time Taken to Mine One LTC The accurate time to mine a single LTC is not fixed and it may vary depending on the hardware you are using, the amount of time you are running the mining rig and various other factors. If you are using a traditional home-based CPU, it might take ages before you can earn an LTC. If you go for mid-range GPU mining rig, the time might be lower but still significant since the mining scene is crowded. If you are using the latest ASIC chip based mining rig, then you have the best chance to earn some Litecoins, and since the Block time is only 2.5 minutes you can expect to earn your first LTC in a couple of hours, given you have enough Hash Power. The best thing to do is join a mining pool, and contribute your mining power, so that for every block mined by your pool you earn a sure shot share in the Block Reward of 25 LTC.
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