Ep177: US-Russia Proxy War in Syria, Onecoin is a Scam, and Scaling Sidechains

Dubai wants all government documents on the Blockchain by 2020. The United Nations is testing blockchains for funding and remittances. Onecoin is a scam and Bruce Fenton is concerned that its crash could stir up a call for crypto regulations. More scam wallets take down from the Apple Store. Darren calculates the half-life of Swiss francs given the negative interest rates. The US is engaged in a proxy war with Russia over regime change in Syria. Scaling bitcoin conference has no mention of blocksize increase. Augur ICO raises $5.3 Million. Randy attends the New Hampshire State House Cryptocurrency Commission.

All this and more on episode 177 here on Wednesday, October 12th, 2016!

We’ve written out short overviews of the topics discussed on today’s show below; be sure to listen in to the whole podcast to get more information, insights, and thoughts on each of them from JJ, Darren, and Randy!

Direct Download – Neocash Radio Episode 177 (MP3)


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Traditional Markets Crypto Markets
Gold $1254.90 Bitcoin (BTC) $635
Silver $17.45 Litecoin (LTC) $3.78
Oil $50.01 Ethereum (ETH) $11.66
Dow Jones 18,144.20 points DASH $11.32
30Y UST Yield 2.498% Monero (XMR) $7.27
STEEM $0.281
AMP $0.178
1 Doge = 1 Doge

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Episode 154 – The Ethereum DAO Is Now Live

Puerto Rico is facing dark times at their debt crisis grows more dire. Valve’s Steam video game platform now accepts Bitcoin for their more than 125 million users. CoinDesk’s Consensus 2016 Conference looks to have a few surprises. A Russian bill seeks to outlaw bitcoin use and jail users. Japan unveils their first blockchain consortium. Plutus combines bitcoin and ethereum as they offer their initial crowd sale. A look at the Ethereum Project’s The DAO. Finally a review of Dash.

 

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Traditional Markets

Gold up $1293

Silver up $17.82

Oil down $39.59

DOW down 17,773

30Y UST down 2.6796%

 

Crypto Markets

BTC down $449

LTC  up $3.69

Dash up $6.77

Ether up $8.60

Doge 50 satoshis

 

News

Puerto Rico on the brink of default

http://www.nytimes.com/2016/04/30/business/dealbook/washington-still-haggling-as-puerto-rico-debt-deadline-looms.html?_r=0

Steam now accepts bitcoin

http://www.theverge.com/2016/4/28/11525482/bitcoin-steam-valve-bitpay

CoinDesk’s Consensus 2016 Conference starts on Monday.

http://www.coindesk.com/10-must-see-moments-consensus-2016/

Russian bill will jail bitcoin users

http://qz.com/672780/russia-is-considering-legislation-that-would-send-bitcoin-users-to-jail-for-up-to-7-years/

Japan’s first Blockchain Industry Consortium is formed

https://www.cryptocoinsnews.com/japan-sees-new-blockchain-industry-consortium-established/

Plutus announces crowd sale

http://www.ibtimes.co.uk/ethereum-bitcoin-payment-provider-plutus-announces-token-crowd-sale-1557525

Ethereum DAO is now live

http://themerkle.com/ethereum-project-the-dao-is-now-live/

A look at DASH

http://bravenewcoin.com/news/dash-the-anonymous-evolution-of-bitcoin/

Episode 150 – Most of the Bitcoin Network Can Handle 4MB Blocks

A Cornell study finds most of the network can handle 4MB blocks. Long-term bitcoin outlook shows a massive power requirement. Reddit and National Security Letters. Yuan overnight rate plummets to negatives in Hong Kong. Russia bans a board game because it makes communism look bad.

 

 

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Episode 141 – ISIS is a Boogieman Created by the US Government

Venezuela’s economic and governmental collapse is speeding along. Puerto Rico is in trouble financially. Japan introduces negative interest rates for commercial banks. More lies about ISIS debunked. Russia suffering from protests and economic woes. The Federal Reserve does not raise interest rates. The New York BitLicense was not enough now the parasites are looking at a second license.

 

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Episode 135 – RAND Corp: Bitcoin Can Increase Economic Power of User

Bitcoin mining difficulty makes a large jump. 2MB Blocksize BIP proposed by Jeff Garzik. The Federal Reserve raised interest rates to 0.25% and the crowd goes wild. Argentina lifts currency controls on Peso. RAND Corp report indicates that Bitcoin user can have some positive side effects. AirBitz partners with Fold and the future of wallet integrated services. Russia starts pilot run of a new a payment solution. The Canadian Dollar is weak. A fiat version of bitcoin is being proposed sans blockchain.

 

 

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Traditional Markets

Gold down slightly to $1067

Silver up to $14.08

Oil drops again to $34.55

DOW finishes the week down 17,128

30 Year US Treasury is up slightly to 2.92%

 

Crypto Markets

BTC up slightly to $440

LTC down slightly to $3.50

ETH is at $1.00

 

News

Mining Difficulty jumps to 93.4 Billion

http://www.financemagnates.com/cryptocurrency/news/bitcoin-mining-difficulty-jumps-the-most-in-16-months-100b-next/

Jeff Garzik Proposes BIP 202; Block size Increase to 2 MB

http://www.newsbtc.com/2015/12/20/jeff-garzik-proposes-bip-202-block-size-increase-to-2-mb/

Fed raised interest rates to a whopping 0.25%

http://www.cnbc.com/2015/12/16/fed-raises-rates-for-first-time-since-2006.html

Argentina to lift capital controls Peso tumbles to over 13 per $1 US

http://www.bloomberg.com/news/articles/2015-12-16/argentina-to-announce-lifting-of-currency-controls-today

U.S. National Security Report: ‘Virtual Currencies Can Disrupt Sovereignty’

http://bitcoinist.net/u-s-national-security-report-virtual-currencies-can-disrupt-sovereignty/

Airbitz partners with fold

https://bitcoinmagazine.com/articles/airbitz-partners-with-fold-allows-users-to-buy-gift-cards-inside-wallet-1450121665

Russian Mir Card

http://bitcoinist.net/russias-mir-card-takes-competition-to-visa-mastercard-and-bitcoin/

Canadian Dollar is currently weak

http://www.cbc.ca/news/business/loonie-drops-72-cents-1.3369475

The Anti-Bitcoin—A Centralized Digital Currency—Takes Root

http://www.paymentssource.com/news/technology/the-anti-bitcoina-centralized-digital-currencytakes-root-3023026-1.html

Episode 132 – Bank Accounts Frozen for More Whistle-Blowers

The bitcoin mining difficulty is going up. Whistle-blowers are having their bank accounts frozen. The new president of Argentina is good news for Bitcoin. The BitUnit conference happened in Ghana! News out of Europe included central bank interest rates and more Greek woes.

 

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Show Prep

Traditional Markets

Gold down slightly $1057

Silver down slightly $14.07

Oil steady $41.77

DOW steady around 17,798

30year Treasury down slightly 2.9976%

Crypto Markets

BTC up $365

LTC up $3.55

ETH down $0.90

News

Cyber Realm

BTC Difficulty goes up

https://bitcoinmagazine.com/articles/mining-difficulty-increases-by-over-due-to-bitcoin-price-increase-and-next-generation-chips-1448389961

US

Targeted bank account freezing

http://www.activistpost.com/2015/11/drone-pilots-have-bank-accounts-and-credit-cards-frozen-by-feds-for-exposing-us-murder.html

Strange letter correspondence between Ralph Nader and Janet Yellen

http://mobile.reuters.com/article/idUSKBN0TC2EB20151123

South America

New Argentina President

http://cointelegraph.com/news/115724/argentinas-new-president-good-news-for-bitcoin-bad-news-for-inflation

Africa

BitUnit in Ghana is happening.

Europe

Russian Finance Minister wants to ban Bitcoin but not the blockchain

http://www.coindesk.com/russia-ban-bitcoin-not-blockchain/

QE not enough, European Central Bank stimulates with lower interest rates.  

http://www.telegraph.co.uk/finance/economics/12022811/Fresh-ECB-stimulus-set-to-hit-Europes-biggest-banks.html

NYSE delisting National greek bank after price drops

http://www.bloomberg.com/news/articles/2015-11-27/nyse-is-delisting-national-bank-of-greece-after-91-plunge

Swiss banks pass on negative interest rates to customers.  

http://news.yahoo.com/swiss-alternative-bank-breaks-negative-rates-taboo-055303880.html

Episode 129 – War in Syria, Satoshi Nominated for a Nobel Prize in Economics

Chris joins us in-studio, look for his interview on Wednesday. BIP 101 reaches consensus on the testnet. Reddit moderator looks to limit the discussion and ban Coinbase from r/bitcoin. McDonalds fries cost $133.00 each.Kim dotcom looks to build a private internet. Iran floods markets with oil. War in Syria and Russia’s role in the Mideast. With the debt ceiling removed, the national debt jumps $500 Billion in a week.

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Show Notes:

Traditional Markets

Gold $1089

Silver $14.74

Dow 17,910

Oil: $44.52

30 year treasury:  3.089 %

 

Crypto Markets

BTC:  $380

LTC  $3.33

ETC: $1.02

 

News

BIP 101 activated on testnet

https://np.reddit.com/r/Bitcoin/comments/3s0uii/bip_101_has_activated_on_the_testnet_need_your/

Satoshi Nakamoto nominated for nobel peace prize in econ

https://twitter.com/bhagwanUCLA/status/662674776498941952

Coinbase CEO threatened to be banned from online forum if they switch to bitcoinxt

https://www.reddit.com/r/Bitcoin/comments/3rejl9/coinbase_ceo_brian_armstrong_bip_101_is_the_best/cwpglh6

(also) Jeff Garzik states consorship over the top  https://twitter.com/jgarzik/status/662072709002735616

McDonald’s French fries selling at $133 in Venezuela

http://www.cosmopolitan.com/lifestyle/news/a48807/venezuela-economic-crisis-french-fries/

Kim dotcom Building own internet named Meganet

http://www.stuff.co.nz/technology/digital-living/73578775/kim-dotcom-is-building-his-own-private-internet

Iran may be flooding market with oil

http://www.afr.com/business/energy/oil/iran-seen-flooding-market-with-90day-supply-of-oil-20151029-gkmhuj

Economics research not replicable according to two federal reserve economists

http://theconversation.com/the-replication-crisis-has-engulfed-economics-49202

National debt jumps almost half a trillion this week

http://www.treasurydirect.gov/NP/debt/current

Episode 114 – BRICS to Protect Iran

Windows users need to upgrade OS for bitcoin safety. Coin.mx under attack by US Government. Gold at a five year low. The Federal Reserve Bank of San Francisco doesn’t like competition. The latest Greek news. BRICS nations to provide security for Iran.

 

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Show Notes

Traditional
Dow is down to 17568
Gold Down to $1100
Silver down to $14.74
Oil is down to $47.97
30 year US treasury rate is down again to 2.96%

Crypto Markets
BTC $292
LTC $4.64
Doge 64 satoshis

Rundown
WINDOWS USERS NEED TO UPDATE NOW.
https://www.reddit.com/r/Bitcoin/comments/3dzhm3/critical_windows_users_update_your_machine_now/

Two men charged with running unlicenced bitcoin exchange
https://www.fbi.gov/newyork/press-releases/2015/manhattan-u.s.-attorney-announces-charges-against-two-florida-men-for-operating-an-underground-bitcoin-exchange
http://www.palmbeachpost.com/news/news/crime-law/west-palm-beach-man-arrested-in-illegal-bitcoin-sc/nm42P/
http://www.pymnts.com/exclusive-series/2015/underground-bitcoin-exchange-busted-and-the-ebola-of-banking/#.VbVKlvlViko

Gold at a five year low
http://www.bbc.com/news/business-33590480

Russian Gold Reserves grow by 800,000 ounces in June
https://smaulgld.com/russian-gold-reserves-grow-by-800000-ounces-in-june/

Fed Res Bank of San Fran tries to scare people
http://www.coindesk.com/fed-official-outlines-bitcoin-risks-for-community-banks/

Greece News

Barclays closes Cypress accounts under 100,000 british pounds
http://cyprus-mail.com/2015/07/22/expats-left-reeling-as-barclays-close-accounts-under-100000/

Greek Plan B
http://www.telegraph.co.uk/finance/economics/11764018/Varoufakis-reveals-cloak-and-dagger-Plan-B-for-Greece-awaits-treason-charges.html

ECB raises emergency lending to greek banks by 900 million euros.
http://www.wsj.com/articles/ecb-raises-emergency-lending-to-greek-banks-by-984-million-1437575336

News
BRICs Nations Getting Strong may shield Iran from the West. Creating a military union not just an economic.

http://www.thenation.com/article/the-geopolitical-big-bang-you-probably-dont-see-coming/

Episode 113 – BRICS Summit and Greek Pitfall

BRICS nations met for a Summit this past week. RC4 security vulnerability may affect bitcoin users. Greek news wrap-up for the week. Socialized losses for Litecoin margin traders. The bitcoin blockchain debate still sees no consensus.

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Show Notes:

Traditional

DJIA up to 18086

Gold down to 1133

Silver down to 14.84

Oil down to 50.78

30 year treasury down to 3.08%

Crypto

BTC down to $274

LTC down to $3.71

Doge 63 satoshis

Rundown

BRICS Summit

http://www.huffingtonpost.com/shashi-tharoor/brics-summit_b_7769914.html

Bitcoin Platform Vulnerability

http://www.biztekmojo.com/00964/bitcoin-platforms-serious-threat-due-https-tls-rc4-vulnerability

+Greece News

Austerity Measures Votes on with Violent Protests outside

http://www.telegraph.co.uk/finance/economics/11743107/As-it-happened-Greek-parliament-passes-new-austerity-measures.html

Banks Reopen

http://www.cbc.ca/news/business/greece-crisis-banks-re-open-monday-with-tight-cash-withdrawal-limit-1.3159210

German Loan?

http://www.cbc.ca/news/business/greece-crisis-tsipras-shuffles-cabinet-after-anti-austerity-mini-rebellion-1.3156316

News

Socialized Losses

http://cointelegraph.com/news/114885/-huobi-talks-about-lessons-learned-from-socialized-losses

 

Block Size Debate

http://cointelegraph.com/news/114882/core-developer-jeff-garzik-proposes-2mb-block-size-limit-to-buy-time