Buying coffee with crypto? Not with BTC, says Starbucks exec

Optimism often comes with vague ideas. In a company conference call whose transcript is published online, Starbucks’ executive chairman Howard Schultz reportedly said he does not “believe that Bitcoin is going to be a currency today or in the future,” clarifying that he was, instead, “talking about the new technology of blockchain and the possibility of what could happen not in the near term.”

While Schultz expressed confidence in what blockchain technology could offer to commercial establishments such as Starbucks, he is also wary because of the legacy Bitcoin or SegWit1x’s (BTC) volatility in terms of its current position as a digital asset. Despite this, Schultz said he “personally believe(s) that there is going to be one or a few legitimate, trusted digital currencies off of the blockchain technology.”

Schultz’ opinion that Bitcoin isn’t in a position to establish itself as a legitimate currency is correct, except that it’s a generalized statement. Bitcoin, or what’s left of the SegWit chain, does not represent all cryptocurrencies.

For micro-payments there are cryptocurrencies like Bitcoin Cash designed to make quick, low-cost transactions over a securely connected network. Buying a $3 cup of coffee shouldn’t rake in ten times the same amount in processing fees for a transaction that would take about half an hour (two blocks mined after the transaction order). This is the case with BTC, a highly-congested cryptocurrency network which relies on a single corporate-controlled development team.

In a recent interview, CEO Kevin Johnson talked about Starbuck’s first cashless store located in downtown Seattle, noting that both payment platforms and payments are constantly evolving. The giant coffee chain just might be ahead of its competitors in the race to adopt major cryptocurrencies such as Bitcoin Cash for in-store payments.

Schultz offered a criteria for what would constitute a cryptocurrency’s success in the mainstream, saying that it will have to “be legitimatized by a brand in a brick-and-mortar environment, where the consumer has trust and confidence in the company that is providing the transaction.”

As a global brand, Starbucks’ statements and attitude towards cryptocurrencies in general will shape consumer behavior for years to come. Starbucks’ unique market position and commodity infrastructure is critical because if it adopts a certain cryptocurrency in the near future, it would mean legitimacy for that cryptocurrency. And if they follow the footsteps of Kodak and make their own cryptocurrency, it would influence their consumers towards trusting cryptocurrencies and/or blockchain technology.

At the moment, Bitcoin Cash is the best and cheapest way of buying a cup of coffee through a cryptocurrency. Here’s a meme from Reddit that illustrates its features:

Buying coffee with crypto? Not with BTC, says Starbucks exec

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.

Robinhood’s commission-free trading campaign was a blast, but the fine prints are a dud

What’s the catch?

More than one million users have signed up for early access to fledgling cryptocurrency exchange Robinhood after they announced last Thursday that they will be offering zero-commission trading when they launch their platform in February. And with a long line of cryptocurrencies on their list, enthusiasts both new and experienced are intrigued.

Throwing shade at other brokers, such as E*trade who spent more than any other brokerage firm for their talking baby campaign on the Super Bowl, Robinhood’s video explains how they are able to offer the free service.

“Other brokers have brick and mortar stores. They spend millions on Super Bowl ads—Robinhood doesn’t. And the savings are passed on to you.”

However, some are not impressed. Like any logical person, this begs the question: what’s in it for them? If you’re not paying, what are they getting out of this? Surely, they have overhead expenses even when they choose to opt out of Superbowl sponsorships.

The fine print—those tiny texts at the bottom of that page

Apparently, Robinhood does have a fees table at the bottom of that page—the ones in tiny fonts in paragraph form. Their Commission and Fee schedule shows that although individuals trading for themselves and buying US listed stocks and over-the-counter securities do not get charged commissions, the brokerage derives income from those trading foreign stocks and charges fees for other activities such as withdrawals. They also earn interests on cash and securities in accounts, “much like a bank collects interest on cash deposits.” They also charge for margin trading accounts—their “Gold” memberships starting at $6 for 30 days with a “buying power” of $1,000.

And $1,000 is not a lot in the cryptotrading industry. This means that it’s highly likely that heavy traders will have to upgrade their accounts at some point. They may still be cheaper or at least competitive against existing alternatives. At the moment, most brokers also limit their supported tokens to a few well-known ones. Although it’s an absolute certainty that if they actually manage to bite off a huge chunk of the market, these industry players will not take the competition lying down.

Finally, while Robinhood had a very effective sales pitch, the even finer print echoes what critics above suspect. There are fees; they’re just not as upfront about it in their campaign, or on their website.

The annoying thing is that the fine prints can’t get any smaller. And really, what the hell is with the almost-paper white fonts?

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.
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. CoinGeek.com 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 CoinGeek.com, 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 Yours.org, the Bitcoin Cash-based social network.

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

CONTACT:

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

Website:  centbee.com

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)
+1.212.838.0220

Website:  nChain.com
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 CoinGeek.com Distributed
Healthbase KryptoMoney Eventcha
NewsBTC Techinasia Cryptonama
Effect.ai 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 Cofound.it
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

Fees:

  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 – https://www.blackarrowconferences.com/registration.html

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  | www.blackarrowconferences.com

Bitcoinj.cash is alive and kicking

Bitcoinj.cash 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 bitcoinj.cash. Although other teams have also created their own forks of bitcoinj, the bitcoinj.cash 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 Bitcoinj.cash 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 bitcoinj.cash, 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 bitcoinj.cash 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 bitcoinj.cash 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 bitcoinj.cash 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 bitcoinj.cash 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 bitcoinj.cash can facilitate that. Someone with good UI and UX could take the library and turn it into something really slick.”

So it sounds like bitcoinj.cash 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
@justicemate

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.