Nasdaq CEO talks crypto exchanges once the space matures. Amazon has won a patent to help law enforcement and tax authorities track your Bitcoin transactions. Coinbase shuts off service to Wikileaks Store and Cheapair.com. GetFreeDASH accidentally gives out too much DASH. Vitalik Buterin is boycotting CoinDesk Consensys 2018 and suggests you do as well. Arizona is very close to allowing residents to pay taxes in cryptocurrency.
Centra Update: I found an address linked to the Centra crowd sale holding 100,000 ETH. Cryptocurrency exchanges charge as much as $3 Million to list tokens and coins. Verge XVG has suffered a 51% attack due to a mining bug. French mega-grocery Carrefour SA is using blockchain technology to show consumers where their chicken dinner came from. Telegram messaging app has already raised more than $1.7 Billion in an ICO but not handing over encryption keys has brought out the Russian Banhammer! News Flash: apparently there is still some sort of debate regarding bitcoin scaling going on — someone needs to tell them the war is over. Darren throws his support behind a DASH proposal for AnyPay. JJ and Pedro visited the 300th consecutive cryptocurrency meet-up in Manchester, NH.
While most of us in the cryptosphere have a pretty good handle on the mechanics of cryptocurrency, the rest of the world is still scratching their heads over it. The widespread ignorance of cryptocurrency poses a huge impediment to its global adoption, especially in parts of the world where reliable access to the Internet and the availability of smartphones is not consistent. However, CoinText, a new crypto wallet service whose user interface runs on the SMS network may be the key to bridging that gap.
The functionality of Cointext is similar to many other automated SMS-based platforms one might use such as online banking and promotional campaigns. Anyone can generate a seed for a Cointext wallet by texting a valid command to one of the service’s access numbers. The user can then enter additional commands to check their balance, send and receive digital assets, and so on. Currently, the platform only supports Bitcoin Cash and all transactions are immediately settled on the BCH blockchain via Cointext’s proprietary algorithm to translate the SMS commands to post to the blockchain.. .
The US-based fintech company launched the beta version of its platform last month and currently only offers access numbers for six countries (the US,.Canada, Australia, South Africa, the UK, Switzerland, Sweden and the Netherlands). Users outside of these six countries are still able to use the service by texting one of those countries’ access numbers.
Cointext’s unique wallet differs from traditional mobile crypto wallets mainly because Its SMS-based platform makes the service accessible to users of older, more basic mobile phones regardless of whether the devices are connected to the Internet. Users can view their BCH address by texting RECEIVE to an access number and can send funds either in the amount of BCH or in the amount of five different fiat currencies.
Users’ BCH addresses are linked to their phone numbers which allows for users to send BCH to other Cointext users using only the recipient’s cell phone number without ever having to see the recipient’s public key. Users can also delete their text chat history as a means of hiding evidence of a crypto wallet from law enforcement who may search their phone. Doing this does not affect their wallet at all.
As is the case with any developing technology, the platform is not without some security flaws. Users’ BCH addresses and by extension, their private keys, are linked to their phone numbers. This poses a serious problem as Cointext currently offers no resolution for the loss of funds if a user changes their phone number or loses their phone.
This revolutionary crypto service is particularly beneficial to billions of people in developing countries where neither smartphones, traditional bank accounts or consistent Internet access are common
Cointext plans to launch a wave of access numbers for additional countries next month and is looking for feedback from the 2,000 people experimenting with the beta version. The development team also plans to implement support for non-English speakers in the next version of the platform. From there, Cointext may become the first of many such services to introduce various digital currencies to the rest of the world.
Centra.tech, Centra Card, CTR token has been revealed to be a scam, principles arrested and facing charges of fraud. LitePay vanishes. Sergey Mavrodi has died leaving his MMM ponzi scheme in limbo. Darren Tapp givens an update about his time at Arizona State University working with the DASH team. He was also a presenter at the Blockchain: Security, Scalability & Research Initiative in Phoenix. There is also a lot of NeoCash related news and interviews!
Plattsburgh, New York is banning additional Bitcoin mining operations for the next 18 months. MT.Gox sell-off effects denied by Trustee Kobayashi. U.S. District Court and the Federal Trade Commission move against cryptocurrency scammers in Florida. Twitter will be banning certain types of ads relating to cryptocurrency investing and ICOs. The US Congress 2018 Joint Economic Report praises Cryptocurrency and Blockchain technology. U.S. President Donald Trump signed an executive order barring U.S. citizens from taking part in the Venezuelan Petro scheme.
In this episode Darren and JJ discuss the anti-money laundering boogieman at the G20 summit. Circle rolls out a trading app just one week after buying Poloniex. Google is set to ban crypto ads as of June 1st. Last Week Tonight with John Oliver talks about crypto and does pretty well.
Ledger has a new wallet firmware with a mandatory update. The Pineapple fund is donating millions of Bitcoin to charities! Senators in the U.S. state of Georgia submitted a bill to allow taxes and license fees paid in crypto. Shapeshift is batching Bitcoin transactions to save on network congestion. We discuss the NEO blockchain and how the hype may be misplaced. JJ interviews ODEM in the first NeoCash Newsmakers.
ICO and token sales suffer nearly the same failure rate as most business start-ups. Dutch RaboBank is looking at creating a cryptocurrency wallet. Poloniex is acquired by Circle. JP Morgan and Bank of America admit that cryptocurrency is very competitive. Germany won’t tax bitcoin when used as a payment. US Department of Justice is making a boogieman out of crypto money laundering. Bitcoin SegWit has seen an increase in segwit adoption up to 30%.
South Korea is looking at licensing crypto exchanges. Salon readers may opt into allowing the site to use some cpu power for mining Monero rather than seeing ads. Small European banks look to seize cryptocurrency opportunities to compete with the bigger banks. We look a list of blockchain predictions for 2018 and give our thoughts.