Roberto Capodieci: Blockchain is going to bring revolution

Roberto Capodieci: Blockchain is going to bring revolution

The revolutionary aspects of blockchain technology can be extended from its current use with cryptocurrency to other use cases that require facts and verifications. asked Blockchain Zoo’s Roberto Capodieci about what he sees as the emerging future of blockchain-based technologies.

Roberto Capodieci is a blockchain expert and infotech hacker, who started programming at 6 years old with his father as his instructor. Now a blockchain expert based in Asia, Capodieci is the first to apply blockchain to supply chain and trade finance.

In an interview with, the Nxt Foundation co-founder explained how blockchain can change our daily lives: “Blockchain is solving one problem for bitcoin but can solve many other problems. It’s going to bring a revolution in our life, as much as internet brought a revolution in our life. Blockchain is going to change the way that we operate online.

Basic services that once required tedious paperwork can leverage blockchain to optimize and secure their backend processes. According to Capodieci, “[in the next future] blockchain is going to move from an embryo stage that is now, to a natural full-working technology, and it’s going to be applied in how we live our life.”

Capodieci, who also works as a tech consultant for law enforcement agencies, provided an example of blockchain usage: “If the police officer is going to stop us on the street, is going to check our driver license status in the blockchain and is going to give us a fine for speeding, and register it in the blockchain. The court later, are going to check it in the blockchain later, see that it’s been digitally signed by a proper officer ask us to pay, then we’re going pay with a cryptocurrency on the blockchain. That’s why blockchain is going to be everywhere.

Capodieci specializes in lawful interception systems and big data analysis. His work with Blockchain Zoo and DeBuNe (Decentralised Business Network) has given him insight into open and decentralized platforms for tech. In Capodieci’s opinion, blockchain’s impact on government will be crucial in “eliminating corruption, making the process to flow fast.”

With blockchain, “there is no need to wait somebody to open a drawer find a piece of paper which somebody owns compromised. We are going to be guaranteed of the truthiness of data,” he said.

Recent projects launched in the blockchain startup space reflect Capodieci’s optimism. There is a vast space for innovation and disruption, applying blockchain to the most vital and critical components of our daily lives.

When asked about the security aspects of blockchain, Capodieci said: “Blockchain is a new technology, new invention, but it’s made with old technology. It’s like a new recipe made with old ingredients. Blockchain is made a peer-to-peer network, which is a network of computers worldwide where no computer is more important than the others, and it’s impossible to kill because if you shut down a computer somewhere, two more will comes up somewhere else.”

These advances in security principles are what hold and comprise the basis of blockchain’s usefulness. Because of its mathematical foundation, blockchain is more secure than second-layer software. “This (security) is guaranteed by the fact that it cannot be destroyed. It cannot be stopped. At the same time it uses mathematics as protocol for security, not software that can be hacked by hackers, that can contain bugs, but mathematics,” said Capodieci, adding that “mathematics is not an opinion, which is a guarantee of security and truthfulness.”

With blockchain technology, the future is secure and more open. Today, blockchain-based applications for digital identity, digital signatures, smart contracts, and other digitally-based records are sprouting up and rising to prominence like the Internet did in the past two decades. It is important to keep track of these disruptive developments and be informed. Major inroads in cryptocurrencies have led to global adoption, permission-less innovation, and decentralized development.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

Centbee, South Africa-based Bitcoin wallet and merchant payment ecosystem, attracts funding from nChain

JOHANNESBURG, SOUTH AFRICA Jan. 29, 2018  —   nChain Group, the leading blockchain research and development firm, has taken an equity stake in Centbee, a Bitcoin wallet provider that makes it easy for a global consumers to acquire, hold and spend Bitcoin with retailers and other merchants.  The funding deal was made through the nChain Group’s investment entity, nChain Reaction Ltd.

Based in South Africa, Centbee was founded by co-CEOs, Lorien Gamaroff and Angus Brown. Gamaroff is a leading expert in blockchain technologies and cryptocurrencies. He has consulted and advised regulators and corporates internationally and is highly regarded globally as an educator and presenter. Brown has 20 years’ experience in payments and banking including the role of CEO of eBucks, a world first bank-backed digital currency created in 2000.

“Centbee will be rolling out mechanisms for merchants to accept Bitcoin Cash payments more cheaply and securely than current bank payment systems without exposure to price volatility,” says Brown. “In addition, we will help consumers move money simply and cheaply across borders to support family and friends. We have been working closely with regulators in South Africa and other jurisdictions to educate and inform and to address any regulatory risk.”

Gamaroff explains that, “In addition to providing financial investment, nChain’s research, intellectual property and deep technology expertise will enable Centbee to become a functional and secure wallet provider which will open up Bitcoin Cash merchant payments to a global market.”

nChain Group CEO Jimmy Nguyen remarks: “Centbee has one of the most user-friendly Bitcoin wallets and merchant payment solutions we have seen.  It smartly embraces Bitcoin Cash because its bigger blocks, low fees and fast transaction network represent the true vision of Bitcoin.  We look forward to supporting Centbee as it sparks greater merchant and consumer adoption of Bitcoin Cash in sub-Saharan Africa and beyond.”

nChain Reaction financially backs products and applications that make Bitcoin Cash more globally useable as peer-to-peer electronic cash.  The Centbee deal represents nChain Reaction’s second Bitcoin Cash-enabling investment within the past month.  As announced in mid-January 2018, nChain Reaction previously participated in a USD $1.5 million Series A funding round for, the Bitcoin Cash-based social network.

The Centbee Wallet becomes available in the Apple and Google Play stores in 2018.


For media enquiries directed to Centbee, please email [email protected] or call +27 83 445 1897.


Twitter:  @CentbeeWallet

For media enquiries directed to nChain, please email [email protected]

or contact Infinite Global at:

Matthew Gilleard (Infinite Global, EMEA)
+44 (0)207 269 1430

Jamie Diaferia (Infinite Global, US/ASIA)

Twitter:  @nChainGlobal

ABOUT NCHAIN GROUP: The nChain Group is the global leader in research and development of blockchain technologies.  Its mission is to enable massive growth and worldwide adoption of the Bitcoin network – focusing on Bitcoin Cash as the true Bitcoin.  The nChain Group includes four business units:  1) nChain Limited – a blockchain research and development business in London, United Kingdom; 2) nChain Holdings Limited – a intellectual property holding and commercialization company; 3) nChain Reaction – an investment entity which supports other Bitcoin and blockchain emerging companies; and 4) nCrypt – a Bitcoin wallet and exchange in Canada.  (nCrypt is currently known as nTrust, but will be re-branding in early 2018 to reflect its move to focus on Bitcoin).

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
US agency: Bitcoin Cash is the original blockchain

US agency: Bitcoin Cash is the original blockchain

The SegWit chain may have inherited the name “BTC” largely due to history, but scientists at the National Institute of Standards and Technology (NIST) said the title of the original blockchain belongs to Bitcoin Cash (BCH).

NIST, a non-regulatory agency of the U.S. Department of Commerce, published a 59-page draft report that attempts to explain Bitcoin’s underlying technology, blockchain. The document, titled “Interagency Report: Blockchain Technology Overview,” briefly discussed concepts like blockchain architecture, consensus, permissioned versus permissionless, smart contracts, and hard forks.

The report, penned by NIST’s Dylan Yaga and Peter Mell with the help of G2’s Nik Roby and Scarfone Cybersecurity’s Karen Scarfone, was fairly straightforward and “high-level” in its approach to define most of the concepts surrounding blockchain, as well as cryptocurrencies like Bitcoin Cash.

“In July 2017, approximately 80 to 90 percent of the Bitcoin computing power voted to incorporate Segregated Witness (SegWit, where transactions are split into two segments: transactional data, and signature data), which made it possible to reduce the amount of data being verified in each block. Signature data can account for up to 65 percent of a transaction block, so a change in how signatures are implemented could be useful. When SegWit was activated, it caused a hard fork, and all the mining nodes and users who did not want to change started calling the original Bitcoin blockchain Bitcoin Cash (BCC),” the report read. “Technically, Bitcoin is a fork and Bitcoin Cash is the original blockchain. When the hard fork occurred, people had access to the same amount of coins on Bitcoin and Bitcoin Cash.”

It’s worth noting how the NIST paper incorrectly distinguished a soft fork from a hard fork. Technically, SegWit was the soft fork of Bitcoin, while Bitcoin Cash is the hard fork. But SegWit became the turning point which Blockstream exploited to sabotage the network’s direction in terms of development.

The report has no legal impact on cryptocurrencies given its decentralized nature, but it adds weight to the stance of Bitcoin Cash proponents that BCH is the true remaining Bitcoin as intended by the original Satoshi Nakamoto white paper, which was immutably imbedded in the blockchain in 2009.

The U.S. agency said the document goes “beyond the hype” in order “to provide a high-level technical overview of blockchain technology.” The paper is available for public comments until February 23, 2018.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
BlockDelhi – Blackarrow’s Blockchain Conference

BlockDelhi – Blackarrow’s Blockchain Conference

21 February 2018 – Le Meridien Hotel, New Delhi – India

After the stupendous success of our last few soldout conferences ‘BlockBali’ in Bali Indonesia & ‘BTCC’ in Mumbai India, we now invite you to participate at our BlockDelhi – Blackarrow’s Blockchain Series conference on the 21 February 2018 at Le Meridien Hotel in New Delhi, India.  This BlockDelhi Blockchain conference aims to showcase the implementation of Blockchain technology in India.

The 21 February 2018 BlockDelhi conference link

Some of the Conference Participants Include:

Blockchain Foundation Quantum Resistant Ledger BitcoinChaser
Wanchain Chainium Coinpoint
Cointed Coin Academy Tokenomy
Genesis Mining Credits Altcoin Buzz
Satoshi School Distributed
Healthbase KryptoMoney Eventcha
NewsBTC Techinasia Cryptonama NexChange Gusture
BraveNewCoin Plaak BitGrit
Project Shivom Tejram Sen Getmybit Technologies
Siddharth Manda Coinbazaar Samar Kumar Ghoshal
Risha Bandaru Parakh Gupta Onfido
Orkus Pvt Ltd Kotoba Translation Sapphiretech Technology
Ankit Enterprises Sunteck Realty Shivam Buildcon
Ursa Major Holdings Tokenomy Gopalkrishnan Mohan
Catalyst Holdings ABB Sapphire Technology
Rsb Info Solutions Saurin Desai Trimark Technology
ShilazTech Vikram Gupta Aankur Kumar Gupta
Agilis Softech Abhishek Sonekar
Aakash Deep Navrang Gupta ZOLOZ

View all partner profiles

Confirmed Speakers Include:

  1. Ajay S Singh ICAS* – Chief Controller of Accounts, Ministry RD, DWnS, PRGovernment of India
  2. Adam Koltun – Marketing Manager, The Quantum Resistant Ledger
  3. Dustin Byington – President, Wanchain
  4. Yale ReiSoleil – Chairman & Founder, McAfeeCC
  5. Marco Krohn– Co-Founder, Genesis Mining
  6. Ilya Frolov– Guestspeaker, com
  7. Jörg Molt – Chief Executive Officer, Satoshi School
  8. Pankaj Som Chaturvedi– Secretary, The Blockchain Foundation
  9. Chris Meitner– CEO, Healthbase Digital
  10. Chris Dawe, CoFounder & CEO –AI
  11. Sascha Ragtschaa – CEO, Chainium
  12. Jonathan Millet– CEO, NewsBTC
  13. Oscar Darmawan – CEO, Tokenomy

View all speaker profiles


  1. Indian Delegate fee – Rs 8,000 Plus GST
  2. International Delegate Fee – USD 135 Plus GST
  3. Students, Ladies & Senior Citizens fee – Rs 5,000 plus GST

For Indian Delegates – To purchase and make payment by NEFT/RTGS, send below details  to [email protected]

  • Company name & address
  • All Participants – names, designations, email ids and cell number
  • For students & senior citizens fee – pls submit college ID / Aadhar / voter ID

For International Delegates – To purchase and make payment by credit/debit cards, Please click on the blue “click here” link on this below link to proceed for registration and payment.

Credit/debit card –

Past conference links:

BlockDelhi will feature breakthrough presentations, case studies, international networking & the TajMahal Heritage Tour.

The 21 February 2018 BlockDelhi conference link

Team @ Blackarrow Conferences
Email: [email protected]
Tel/whatsapp: +91-9833487628  | is alive and kicking is alive and kicking

Bitcoin Cash has in the last 6 months, experienced unprecedented growth, merchant adoption, rise in mainstream media coverage, and development that has literally not been seen in any cryptocurrency across the board. The momentum is undeniably in full swing, and the restoration of Bitcoin is at hand.

One very important piece of the puzzle that doesn’t get enough attention is the resurrection of bitcoinj. Bitcoinj is a Java library used for working with the Bitcoin protocol. It was originally conceived by Mike Hearn, one of the original Bitcoin developers with an astute ability to code and understand the economic incentive system of Bitcoin. It was also the very first Bitcoin implementation that specifically targeted SPV (Simple Payment Verification) light wallet functionality – where only a small part of the blockchain is downloaded – making it suitable for use in small devices such as tablets and smartphones.

Its history is well documented, and the project is well established in the roots of Bitcoin development. In fact, a large number of Android wallets on the market today use the very software that is backed by the bitcoinj library.

Thanks to Steve Shadders, who was actually involved with bitcoinj and writing pool server software in the early days of Bitcoin development, the bitcoinj project is revived in a fork now known as Although other teams have also created their own forks of bitcoinj, the project, looks at unifying the forks across the board, and turning this into the community driven project that it once thrived on being.

In a reddit post last week, Steven Shadders made mention community is alive and kicking with some exciting projects already using it:

Steve states “First off HashEngineering’s Android wallet is in the process of switching over to, you can check it out on the Google Play store here. We are also working to revive the Lighthouse crowdfunding application which has been dormant for a few years but thanks to low fees on BCH is now viable again”.

Steve’s efforts with are now being sponsored by nChain, a company which hasn’t been shy in sponsoring and promoting projects that fit the Bitcoin Cash trajectory to global adoption.

I caught Steve (who happens to be a fellow aussie) for an interview regarding the project, and he wasn’t short on letting me know that he had big plans to take this to the next level, and do what it takes to further enable Bitcoin Cash. Here’s what he had to say:

“Originally, bitcoinj was supposed to be specific to SPV functionality, but it later started to evolve into a bitcoin library… It’s in JAVA and businesses love JAVA, so it’s important to the ecosystem… I like to call what we’re in right now the age of the professionalization of Bitcoin”

Can you explain in a nutshell ?

“It’s got all the basic functionality of a Bitcoin node… It contains all of the components needed to build a wallet. Quite literally you just need to wire them together… there’s a demonstration project in the library. I’m pretty sure that Mike never imagined that it would be used for components in a pool server.”

Did you know Mike Hearn personally or..?

“I never met him but I interacted with him a fair bit in the early days because I needed things in bitcoinj which weren’t in there for the pool software…”

Do you still keep in contact with Mike Hearn at all?

“Very occasionally, I did let him know that this was coming up, and that I was working on Lighthouse”

So how’s the governance of the project, are you leading it?

“There were already 2 or 3 forks to get working. They didn’t appear to be aware of each other… so I reached out to a few of the developers… I already grabbed the domain… so I reached out to the developers, and they all agreed it would be better for us to work together… I actually haven’t done much of the coding so far it’s been more so HashEngineering and Daniel who’ve done most of the dev-work but that will be changing”.

And what’s the plan going forward with it all?

“It’s 7 year old code, so a rewrite and a refresh of the code is definitely up….

One thing we want to do actually is translate the whole library to Kotlin, which is a JVM (java virtual machine) language which is interoperable with JAVA. It’s relatively new but it’s well supported language. It’s what Lighthouse was written in… It comes with one significant advantage, and that’s that it can be compiled to native code which means it can run on any platform, so it can run on an iOS and anything else.”

And you’re looking for people that can help contribute?

“Yes definitely. Anyone who’s interested and thinks they can contribute should get in touch.”

“One of the main things we need out there is a super user-friendly wallet, and I think that can facilitate that. Someone with good UI and UX could take the library and turn it into something really slick.”

So it sounds like is going to have the same (if not more) impact on Bitcoin Cash as it did early on, in the Bitcoin ecosystem. Not only will the library be expanded, but it will be refreshed, this will further enable more diverse applications not limited to just SPV wallets, but potentially nodes, pools, and whatever else comes next, making it as efficient and as possible in its re-write.

The Bitcoin Cash eco-system continues to impress and grow day after day, and we have lots to look forward to.

Eli Afram

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
Crypto regulation is coming and it’s OK

Crypto regulation is coming and it’s OK, says nChain CEO

Traditional banking has its days numbered given the steady growth of Bitcoin, whose underlying technology promises to cut out the middleman—along with their outrageous fees—and help secure transactions using a distributed ledger system, resulting in decentralized transactions with relatively low fees.

The lack of central exchange is putting many governments in a bind, resulting in regulations that seek to stifle the growth of the cryptocurrency sector. Regulations, however, are not all bad, said Jimmy Nguyen.

During the recently held Blockchain& Bitcoin Conference Philippines, the CEO of blockchain research and development outfit nChain Group discussed how the eCommerce sector will change with the advent of cryptocurrency, specifically Bitcoin Cash (BCH), which is considered the true remaining Bitcoin as intended by the original Satoshi Nakamoto white paper.

And one of the five keys needed to achieve a Bitcoin commerce (bCommerce) world is “sensible regulation,” according to Nguyen.

“A lot of people in the crypto community are afraid of law and regulation. They think that the Bitcoin world shouldn’t be regulated,” the executive said. “The reality is you can’t regulate the network because it’s decentralized but all of the companies including people in this room who operate businesses interfacing with Bitcoin and real life consumers, I’m going to tell you, regulation is coming and it’s OK. You should be thankful for it, [as] it would normalize and support the industry.”

Sensible regulation

To be considered “sensible,” regulations must incorporate two things, Nguyen said.

First is that governments need to recognize cryptocurrencies as a legal form of payment and tender, which, in turn, will compel crypto companies to register and comply with know-your-customer (KYC) and anti-money laundering (AML) requirements. Such was the case in Japan, which is the first country to formally recognize virtual currencies like Bitcoin as legal tender.

“Why is that a win? It’s because it increases the trust of consumers as well as businesses in Bitcoin when the government says this is a legal form of payment and tender, and it also increases adoption by merchants. And we’re seeing that because just last year, Japan has seen a number of its major retailers start accepting Bitcoin in light of this,” Nguyen said.

The second component of a sensible regulation is a clear definition of what it does and does not cover.

An example of this is New York’s BitLicense, which was introduced in June 2015 shortly after the collapse of Japan-based Mt. Gox. The license defines virtual currency businesses based on their activities—storing, holding, maintaining custody of a virtual currency, and performing exchange services. But what about providers that supply technology in the backend to an exchange? Do they also need a license?

“There’s always grey areas when you’re regulating and writing laws and I think it would be helpful for governments who are actually creating these BitLicense or business licenses to start describing or publicly saying what they do not cover to eliminate grey areas,” Nguyen said.

Judicious regulations will give virtual currency providers room to act, and also pave the way for industry stakeholders to try educate regulators and legislators that there are other types of financial services out there that “could change how people, businesses, and money operate.”

“It’s an exciting world. It’s a world that really could change how people, businesses, and money operate. And in a way, even mothers and grandmothers—even my mother who’s now a grandmother—could hopefully be sending Bitcoin Cash through her mobile phone. I’ll have to help her, but one day, I want to be able to send it to someone in Vietnam or somewhere around the world. I think that’s a powerful and beautiful vision,” Nguyen said.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
BitPrime brings Bitcoin Cash to New Zealand

BitPrime brings Bitcoin Cash to New Zealand

Ranking among the largest and most easily-accessible cryptocurrency exchanges in the Pacific, BitPrime has recently brought greater accessibility to fast, low-cost micropayments via Bitcoin Cash (BCH) to New Zealand. With an easy-to-understand interface, the exchange promises to “take the hassle out of buying and selling bitcoin.”

In a post, BitPrime said they have opted to integrate with Bitcoin Cash because it brings digital money to the world, “fulfilling the original vision of Satoshi Nakamoto” of a cryptocurrency designed as a “peer-to-peer electronic cash”. With this kind of practical technology, BitPrime believes that “users, merchants, and payment gateways are empowered with low fees and reliable confirmations.”

Poised to take over the crypto world with its practical utility, Bitcoin Cash opens the cryptocurrency space to unlimited growth, global adoption, permission-less innovation, and decentralized development. With the advent of new security features such as replay protection via signature hash, improved hardware wallet defenses, as well as the elimination of quadratic hashing issues.

New developments in cryptographic software for Bitcoin Cash now allows miners to migrate from the legacy Bitcoin, or SegWit1x (BTC) chain through responsive Proof-of-Work difficulty adjustment algorithms. This provides more stability for the Bitcoin Cash network, what with new inroads such as proposed block size increases being made with the prominent cryptocurrency’s technical aspects.

Perhaps what’s peculiar with Bitcoin Cash is that it differs from most cryptocurrencies with the way it is used. For crypto enthusiasts in New Zealand, Bitcoin Cash presents a practical way to make payments online sans the hassle and gatekeeping that corporate entities such as Blockstream aim to surround ordinary users with.

Currently undergoing decentralized development, Bitcoin Cash is resistant to political and social attacks such as those exemplified by the aforementioned corporation. With the BCH network, development is committed without a single “core” group or project claiming hierarchy over others. Coordination across development teams is done with consensus and open communication. Fear, uncertainty, and doubt are ineffective strategies when it comes to undermining a network built with a passionate community.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
Crypto “Oracle” Vinny Lingham foresees favorable future for Bitcoin Cash

Crypto “Oracle” Vinny Lingham foresees favorable future for Bitcoin Cash

In an interview with CNBC‘s Fast Money, Vinny Lingham provided optimistic remarks about the future of cryptocurrencies with Bitcoin Cash at its forefront. Lingham, dubbed by Forbes as the crypto “Oracle“, is the CEO of blockchain-based identity security platform Civic. Here’s a snippet from the interview: [see embed code in e-mail].

Lingham claims that the current state of the crypto market necessitates something other than mere store of value, stating that: “The one need is global fast cheap payments with some tradeoffs and the other need is anti-fiat money where everyone can run a node to monitor and value their transactions.”

The current dichotomy is perceived to be between that of cryptocurrency as a store of value or as a payment utility. In terms of the former, Lingham agrees that legacy Bitcoin, or SegWit1x (BTC) still has some value as a kind of digital gold. However, according to Lingham, “[When] I look at it from a products standpoint, I think the greater demand is for peer to peer cash than for digital gold.” Having a greater demand does not instantly spell success, though, and Bitcoin Cash developers are hard at work trying to accommodate the growing number of BCH users.

As of this writing, the cryptocurrency trading market has suffered from severe losses and dips. The BTC chain has dwindled from its record-high $20,000 to a $9,000. Due its prominent position, BTC’s sudden dips also affect other cryptocurrencies as a result of covariance in the crypto asset trading market. Despite this, major cryptocurrencies such as Bitcoin Cash have fought forward with strong comebacks.

“[BTC] and Bitcoin Cash are focusing on two totally different markets right now,” said Lingham, adding that investor should “#HODL” BTC and Ether as they are, but that Bitcoin Cash provides more utility for a long-term basis as “these two products are serving different needs in a market.”

Lingham is invested in a range of cryptocurrencies, and knows, as an entrepreneur, that Bitcoin Cash is a more stable and viable network, not because of its raw price, but because of its long-term value. With a tight regulatory environment as seen in the cases of South Korea and China, a lot of new investors in the crypto market have sold off their assets out of fear. With Bitcoin Cash, the story is wholly different. Users don’t buy the cryptocurrency as an asset: instead, they rely on it as a basic means of transferring funds to anyone they like, be it their close friends, business partners, or new friends whose kindred spirit they find worthy of appreciation.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
Hacked Japanese exchange Coincheck to repay depositors $425 million

Hacked Japanese exchange Coincheck to repay depositors $425 million

Should this proceed smoothly, it would be the most graceful handling of a crypto-heist to date.

Friday last week, Japanese cryptocurrency exchange Coincheck suffered the biggest theft in world history after hackers stole around 523 million NEM tokens (XEM) from its hot wallet, effectively dethroning the infamous Mt Gox hack.

Yesterday, the exchange has issued a statement saying “all affected users will be repaid in JPY via Coincheck Wallet” using their company funds.  The reparations policy indicates that 260,000 users will be repaid based on NEM trading value pulled from cryptocurrency exchange Zaif—at 88.549 JPY per NEM. On top of investigating the heist, the company still has to determine how to roll out the repayment, and for how long.

“We realize that this illicit transfer of funds from our platform and the resulting suspension in services has caused immense distress to our customers, other exchanges, and people throughout the cryptocurrency industry, and we would like to offer our deepest and humblest apologies to all of those involved. In moving towards reopening our services, we are putting all of our efforts towards discovering the cause of the illicit transfer and overhauling and strengthening our security measures while simultaneously continuing in our efforts to register with the Financial Services Agency as a Virtual Currency Exchange Service Provider.”

Meanwhile, the Japanese Federal Services Agency (FSA) has ordered Coincheck to improve its practices based on the Payment Services Act, they posted in another release today. The order, which Coincheck “earnestly accepts,” requires that the company submit a report by February 13 containing details on the investigation of the incident, support of its customers, and stronger mitigation and prevention measures.

In a Tweet, NEM President Lon Wong extended his support to Coincheck, saying they are doing everything they can to help. He clarified, however, that NEM will not be forking.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
Smells like Mt Gox: Tether fears mount amid auditor fallout and anonymous ‘Tether report’

Smells like Mt Gox: Tether fears mount amid auditor fallout and anonymous ‘Tether report’

The report estimates up to a catastrophic 80% drop in BTC price should a pump conspiracy be uncovered.

Bitfinex and Tether are on the (interrogation) spotlight again as news of its fallout with auditing firm Friedman LLP (FLLP) is making the rounds.

“We confirm that the relationship with Friedman is dissolved.  Given the excruciatingly detailed procedures Friedman was undertaking for the relatively simple balance sheet of Tether, it became clear that an audit would be unattainable in a reasonable time frame. As Tether is the first company in the space to undergo this process and pursue this level of transparency, there is no precedent set to guide the process nor any benchmark against which to measure its success.”

This does not bode well with the public, nor does it do their pledge to transparency any favours. Since last year, they have vowed to dispel suspicions of manipulation and illegal trading practices by submitting to a full audit.

As if things weren’t bad enough—the news comes only three days after the release of an analytical report on Tether titled “Quantifying the Effect of Tether,” whose author chose to maintain anonymity due to the highly political and potentially dangerous nature of fanatics in the cryptosphere. Tether has long been suspected of conniving with cryptocurrency exchange Bitfinex to pump up the price of BTC. According to the report, should a pump conspiracy be uncovered, BTC could drop as far down as 80%.

Summary, “Quantifying the Effect of Tether.”

Whether you support BTC or not doesn’t spare you of this potential catastrophe. If you hold any cryptocurrencies at all, this should concern you.

A collusion of such proportions, if proven, could be fatal not only for BTC—it could take down the rest of your portfolio. As we have seen throughout history, the unravelling and collapse of scams in the cryptosphere is enough to scare off holders from all cryptocurrencies even when none of the others are even remotely involved. Case in point—cryptocurrencies across the board all went on a nosedive when Bitconnect (which had Ponzi written all over its cult personalities from the very beginning) announced that they were shutting down. This was not even two weeks ago, and cryptocurrencies haven’t really fully recovered yet.

How Tether works, or at least how they say they do

Although Tether is built on top of the BTC legacy chain’s Omni network, it doesn’t really follow the same rules as an issuer of tokens. Unlike BTC or BCH—which rely on mining to generate their supply, Tether has a different method for “minting” its coins.

Supposedly, Tether issues “Tethers” or USDT only when people buy in by depositing US dollars in exchange for USDT, with a 1:1 exchange value. This is how it’s minted.

Allegations of Unbacked IOU’s

Users buy USDT with US dollars so they can engage in cryptotrading activities. However, no one was really watching or keeping tallies to make sure that Tether stays honest and only “prints” USDT when US dollars come in. Some allege that they are issuing more USDT than there are US dollars coming in—that they are printing Tethers out of thin air.

This is why they tapped FLLP in, supposedly to put an end to such suspicions by submitting to a full audit. But as mentioned earlier, this agreement has been dissolved. Friedman was, however, able to do a preliminary report that stated that the amount of dollars in Tether’s bank accounts did reflect the number of Tethers in existence. According to the preliminary report, however, FLLP has not been able to verify whether the funds in the bank accounts were exclusively deposits for Tether tokens, or mottled with funds from other sources, for purposes other than USDT withdrawals.

Allegations of pumping through Bitfinex, wash trading, and other manipulations

Medium user Bitfinex’ed, an active critic of Bitfinex has several posts explaining possible collusion between the exchange and Tether. Sudden surges of demand in a short span of time could trigger alarm bells, such as in July 2017 when a total of $80 million worth of Tethers were created within just one week. Bitfinex’ed suspects that the “fake money” was used for wash trading in Bitfinex.

According to the user, Bitfinex’s system actually allows wash trading—an illegal activity where manipulators sell and buy their own coins to fake the notion that there is a lot of market movement, which then hikes up values. Furthermore, the post shows how easy it is for an exchange to prevent this manipulation—which Bitfinex does not block despite newer, lesser known exchanges already implementing the restriction from the start.

API documentation from young exchange LedgerX shows that they block wash trading, which Bitfinex’s API allows

Consequently, crypto watchers are nervous. The mounting suspicions resurrect fears of another Mt Gox-level disaster. Bitfinex, after all, is one of the biggest BTC exchanges in the world. “Everyone in crypto is very worried about the tether situation, and if these really count as dollars,” says David Gerard, author of Attack of the 50 Foot Blockchain. Tether has been dubbed “the largest ticking time bomb in all of cryptocurrencies,” with some speculating it may not even be backed by anything at all.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
Dr. Craig Wright: Bitcoin front-end is really problematic

Dr. Craig Wright: Bitcoin front-end is really problematic engaged Dr. Craig Wright, chief scientist at nChain, and asked him about what’s new and what’s being done in the world of Bitcoin Cash.

It’s been half a year since the historical hard fork at block #478558 that saw Bitcoin Cash (BCH) split from the legacy Bitcoin or SegWit1x (BTC) chain. Since then, the latter has devolved into a congested network with sky-high fees and untenable wait times for transaction confirmations.

Asked about the current roadmaps being fulfilled by Bitcoin Cash developers, nChain Chief Scientist Dr. Craig Wright shared, “It’s actually really good, we’re starting to get everything organized and developed and we’ve had our first hard fork which went through really, really smoothly.”

Bitcoin Cash is being developed in a decentralized manner, according to Wright, involving many teams such as Bitcoin ABC and Bitcoin Unlimited, as well as independent contributors to the project. This is in stark contrast with the work being done on the BTC chain, which at the moment is being controlled by a single, centralized dev team, backed by a corporate entity called Blockstream.

Dr. Wright expressed confidence in the decentralized development being done with the cryptocurrency, stating that “[we are] going to ensure that not only right now but going forward we’re going to scale, increase the adoption of Bitcoin Unlimited and Bitcoin ABC and the whole Cash (BCH) ecosystem so that we’re going to be able to have it so that scales to everyone viably.”

With recent news of Bitcoin Cash developers proposing an imminent block size increase to 32MB, the cryptocurrency has nowhere to go but forward. Its advances in the technical side, however, have been met by an imbalance in terms of the user-facing aspects.

“I do realize how difficult it is rather at the moment and I’ve been saying for quite a while the front end of Bitcoin is really problematic, the UI. And there are some other teams out there who have some really cool easy to use, I’ll even say sexy UIs that really have potential for adoption,” Wright said.

To the ordinary user, using Bitcoin Cash can be quite intimidating in terms of the interface—crypto software isn’t exactly for beginners. A lot of development has been going on in this aspect of the crypto market though, and Wright said they have “[…] been working with a number of companies who should be taking that problem up themselves and we’re going to help them and make sure that they can release something that will make it so that my grandmother can actually use Bitcoin Cash.”

The recent panic set in by BTC’s continuing ruin is predicated on a loss of market confidence. With more crypto users being educated on the sound values of Bitcoin Cash, it’s not long before people will use it as peer-to-peer electronic cash.

Dr. Wright observes the philosophical problem with BTC’s current state in terms of how most people use it: “It’s like any traders on stocks or anything like this. If you have a lot of movement, then every penny makes you cash, and for a lot of people, that’s a strategy for actually creating a lifestyle, a way of living at the moment, and it’s not sustainable long-term, that’s the problem. Eventually, someone stops the music, and you find out that there’s less chairs.”

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true  Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

Roger Ver launches Bitcoin Cash Games online casino

Longtime cryptocurrency advocate Roger Ver has expanded his online gambling site to accept Bitcoin Cash (BCH) wagering.

Last September, Ver’s cryptocurrency portal launched Bitcoin Games, an online casino platform that utilized the old legacy Segwit Bitcoin (BTC) token. The platform has now branched out with a BCH-compatible variation, Bitcoin Cash Games, offering the same online casino experience but with vastly lower fees.

As Ver’s official announcement of the launch stressed, “the BCH network and currency has proven itself to be reliable while also offering transaction fees so cheap ($0.01 or less) they are practically non-existent.”

Bitcoin Cash Games’ game palette includes provably fair video poker, keno, craps, roulette, dice, slots and blackjack, each providing a 99% expected return. There’s also a referral program that allows players to earn up to 25% of the site’s house edge by enlisting new players.

Usage of the platform (and its native Android mobile app) is entirely anonymous, and thus requires no registration. However, US residents are restricted to free-play action with ‘test credits’ due to their government’s reliably paranoid regulatory environment.

Ver, who was affectionately dubbed ‘Bitcoin Jesus’ for his early advocacy of cryptocurrency adoption, has over the past year become an even more ardent advocate for BCH . These days, Ver might more accurately be described as ‘Bitcoin Moses’ for helping to lead his people out of BTC bondage toward the BCH promised land.’s decision to expand its online casino’s reach to the growing BCH community was undoubtedly driven at least in part by BTC users’ unwillingness to pay through the nose for every spin of the roulette wheel.

In fact, Ver might be better served by shuttering the original Bitcoin Games platform and redirecting its customers to links where they can convert their increasingly anachronistic Segwit BTC tokens for BCH, aka the cryptocurrency that people actually use.

Regardless, heartily congratulates Ver for providing the BCH community with another solid online casino option and wishes him luck in his latest endeavor. (Hey, does this article mean we qualify for the referral program?)