Spot journalism captured by an activist at the “Morpheus Titania” arrest – Ignore/Ridicule/Fight/Lose: Anti-Bitcoin SWAT teams – like this one in Arizona – are an opportunity to build a bigger movement.

When a Fed special weapons team arrived at Thomas Costanzo’s dwelling in Mesa, Arizona… the respected but rebellious Bitcoin trader was reportedly not home. That’s because a different policy enforcement team had arrested him during the attempted commission of an innocuous exchange.

Morpheus Titania Arrest - Image from FreedomsPhoenix.com

Morpheus Titania Arrest – Image from FreedomsPhoenix.com

A friend reports that Costanzo, popularly known by his nickname “Morpheus Titania,” was supposed to meet with a customer, one he had probably developed on LocalBitcoins.com. The site, a sort of crypto-Craigslist, facilitates in-person exchanges of bitcoins and altcoins. According to the Phoenix New Times, the home raid sought evidence that Morpheus was engaged in an unlicensed money transmitting business. Once inside, the bait-and-switch crew reportedly found several dozen rounds of ammunition and determined he was barred from owning them because of a different victimless conviction, and used that as an excuse to imprison him on April 20th. He’s still detained as of this writing.

The arrest sent shock waves through the “crypto-community” but perhaps smaller shock waves than it should have. Authorities factor into their planning an initial bout of negative publicity surrounding such a key victimless crime arrest. They also expect to see opposition to it fade. Fading, it is… and some crypto-enthusiasts are worried.

“If we don’t defend him adequately, the whole bitcoin private transaction business is going to come under fire,” says a self-described friend of Morpheus. Calling in to Free Talk Live, identifying himself only as “Bob in Acapulco” the activist calls this arrest a line in the sand moment. If that’s what it is, then the next step to manning the line is making sure we have a condensed and informative list of our options to fight back. Here it is.

1) Re-establish Titania’s Twitter pipeline. His arrest means there hasn’t been any activity there since April. If he still want to communicate with the public, presumably he can give one or more of you access to the page and post to it through you. Someone who is already a known quantity or trusted by him should probably make contact and follow his instructions for getting the page back into action. Here is his Twitter page.

2) Write him, send him a book or help fund his commissary account, if it still needs funding. Here are instructions for doing these tasks.

3) Establish a “Free Morpheus” Facebook group. Actually never mind; this I’ve gone ahead and handled this myself.

But the activity will need to come from you.

4) Spread the word about Morpheus’ situation, particularly any recent updates or abuses you learn of. The Freedom’s Phoenix page is a good place to find those. Remember, an arrest is a tragedy for the arrestee… but it can help the movement he belongs to. This is an opportunity to increase the buzz surrounding crypto. The more of that there is, the more it defeats Morpheus’ tormentors and their fragile fiat dollar.

5) Visit him if you’re in the area. The Freedom’s Phoenix page has instructions. Guess it has a lot of things!

6) Donate to his defense. Thishttp://freedomsphoenix.com/link appears to be one way. It’s reportedly part of his website. This could be improved by adding an option to accept altcoins.

7) Peaceably Demonstrate. Get video. Upload it. Though the facility holding him might be the ideal place for that, any Federal outpost will do… An embassy might be even better. You’re not powerless, even if you’re in Romania or Hong Kong.

8) Speaking of that Freedom’s Phoenix link that seems to be in half the action items… it’s not only a great source of semi-raw info, it’s still being updated as of July. Keep an eye on it.

9) Complain to perps and politicians. Claire Wolfe is right that this is probably less useful than Letters-to-Editor, etc. But if you live in a one-party-consent state and *call* to a one-party-consent state, you can easily record and publicize the conversations. Article 78 makes it easy with U.S. Senators, and the Freedom’s Phoenix link lists all the implicated copshops.

10) If you are beginning to worry about your own safety as a Bitcoiner, then the following option won’t help Morpheus much, but it might save you. Move to New Hampshire. The Phoenix area is fortunate in that it does have an active liberty community with a decently loud voice. But though it’s not fully free yet, this kind of arrest is a bigger deal when it happens in the “free state.” An NH Morpheus is less isolated, less likely to face charges, and more likely to trigger the kinds of action requested above. The details, if you haven’t already read them backward and forward, are at the Free State Project.

11) Use the comment section or FB group to add action items to this list and provide us updates or corrections if appropriate.

The clock is ticking, and this infection has already spread… seeming to initially vindicate the predictions of Bob in Acapulco. Morpheus associate, Peter Steinmetz, literally a brain scientist, was the next known victim. He was subsequently indicted for allegedly operating an unlicensed Bitcoin exchange.

But our struggle is not just about the right to make – and create – money. It’s about determining whether the future of humanity is Switzerland or Venezuela. In crypto, we have the tech to make it Switzerland. But do we have the civic will? Can we make attacks on victimless Bitcoiners as much of an act of political suicide as attacks on Apple or soccer moms have become?

So far the Morpheus arrest and follow-up may be going as planned, following the script that Washington operatives gamed out in advance. It’s your job to peaceably make this misdeed – and the ones which are to come – go at least a little “backfire.” Please… to your stations!

Image from Wikimedia Commons.

 

The post If they make a thousand Bitcoin arrests, then let us make a thousand Gandhis appeared first on Crypto Insider – Bitcoin and Blockchain News.


Source: cryptoinsider.com

The post [Review] Antminer T9 vs. Antminer S9 – Who is the Bitcoin Bitcoin Miner? appeared first on 99 Bitcoins.

If you want to get up and mining as soon as possible and reliability is more important to you than efficiency, then we’d say the T9 is a reasonable choice. If you don’t pay for power and just want a good, fast miner you can “fire up and forget,” the Antminer T9 will fit the bill nicely.

If you’re willing to be more hands-on with your mining, then we’d say the forthcoming S9 miner will be the better choice, especially if you want that 180 day warranty. However, the wait for the next batch could prove costly, especially when factoring in likely shipping times from Bitmain in China.

If you’re money-conscious and don’t mind shopping around – perhaps even tinkering with a miner to achieve greater efficiency – then we’d recommend seeking out the right batch of second hand S9s, at the right price. If you can find them new that’s even better, but rather unlikely due to the high demand! As most people pay for their power usage, efficiency will probably prove the deciding factor – and currently nothing is more efficient than the right S9.

Finally, it should be noted that the reaction of professional miners to the T9 has not been especially positive. The general consensus appears to be that the T9 is a way for Bitmain to clear stock of sub-standard chips, by running them at higher voltage to boost their reliability. The downside of this is degraded efficiency.

Tezos announced the largest ICO to date, raising $232 million worth of bitcoin and ether, Forbes reported a few days ago with a post titled “Tezos’ $232 Million ICO May Just Be The Beginning.”

Tezos describes itself as “a new decentralized blockchain that governs itself by establishing a true digital commonwealth.” Tezos’ innovative approach to the governance of its blockchain platform is based on creating governance rules for stakeholders to approve of protocol upgrades that are then automatically deployed on the network.

Bancor, a blockchain platform that allows anyone to create their own cryptocurrency token and operate it independently of a third-party exchange, raised $147 million with its token sale last month. See Crypto Insider‘s interview with Bancor CEO Guy Benartzi, published in May.

In the last few months, Crypto Insider has covered many ICO records. Now, Tezos has shattered the previous Bancor record, and all seems to indicate that the current Tezos record will be beaten someday soon.

Regular Crypto Insider readers don’t need to be explained what is an ICO. For newcomers to the crypto world, an ICO – Initial Coin Offering – or token sale is an open funding mechanism for startups (or established companies), where backers are required with tokens that represent some kind of fractional ownership of an ICO project, with rights and returns defined by the project’s specific rules and enforced by its smart contracts (often on the Ethereum blockchain).

ICOs can be considered as halfway between Kickstarter and the stock market. While crowdfunding platforms like Kickstarter have revolutionized the funding sector by opening new ways for teams to raise money directly from enthusiasts and future customers, ICOs go one step further and treat backers as investors. The ICO mechanism can be seen as a way to bypass securities regulations, and calls for ICO regulations have been issued, notably by the SEC in the US and the People’s Bank of China.

In the meantime, the ICO craze continues to march ahead at full speed, with no sign of slowing down. While naysayers and regulators call for caution and warn that ICOs offer insufficient protection to naive investors, others consider the token economy as a way to “democratize” venture capital and allow anyone to invest in promising startups, thus making fundraising for innovative projects much easier.

Therefore, it isn’t surprising that more and more firms are looking at the ICO sector as a promising alternative to traditional funding.

CoinDesk reports that, according to representatives from Deloitte, EY, KPMG and PwC (the global Big Four accounting firms), “both existing and prospective clients are beginning to ask questions about initial coin offerings (ICOs), the process by which public blockchain technologies can be leveraged to create custom cryptocurrencies that are subsequently sold to fund projects.”

“We’ve seen a definite uptick in the inquiries we are receiving,” Eamonn Maguire, who leads KPMG’s Digital Ledger Services division, told CoinDesk. “In the past month alone, we’ve probably gotten 10 inquires – for example from institutions in France, Switzerland, Russia and Austria.”

Image from Creative Commons Images.

The post The ICO Craze Continues With Tezos’ New Record of $232 Million appeared first on Crypto Insider – Bitcoin and Blockchain News.


Source: cryptoinsider.com

Motherboard writer Louise Matsakis covers the politics of Bitcoin in a short article and a podcast titled “What is bitcoin really for?

Matsakis interviewed David Golumbia, an assistant professor in the Department of English at Virginia Commonwealth University, who denounced Bitcoin and crypto as ideological tools of the extreme right-wing in the 2016 book “The Politics of Bitcoin: Software as Right-Wing Extremism.”

In October 2016 I wrote a very critical review of Golumbia’s book, titled “Review: ‘The Politics of Bitcoin’ Offers a Flawed and Misleading Partisan View,” published in Bitcoin Magazine. So, I was also interviewed by Matsakis to provide counterpoints.

I won’t repeat here my considerations in my October review (just read it), but add some points.

“Right-wing” and “Left-wing” are, in my opinion, obsolete political categories that can only obfuscate contemporary political discourse. For example, it’s often said that right-wingers are conservatives. But the Alt-Right doesn’t seem that conservative to me. Perhaps you hate Big T, but please don’t tell me that a sledgehammer is something that conserves. More like smashes down.

Another example: It’s often said that right-wingers are homophobic. But then what do you make of maverick billionaire venture capitalist Peter Thiel, who said “I’m proud to be gay” while speaking in support of Big T at last year’s Republican National Convention? What do you make of controversial media phenomenon Milo Yiannopoulos, a very outspoken gay who tours US campuses with a show titled “Dangerous Faggot Tour” (amidst violent “liberal” protests)? Homophobic? HOMOPHOBIC? Really now.

This is not a defense of the Right, old or Alt, but just an exhortation to use language properly. Feel free to promote your political position as forcefully as you want, but if you tell me that black is white, I call BS.

If Golumbia tells me that real freedom comes from oppressive 24/7 state control, I call BS.

Golumbia makes a lot of valid points in both the book and the podcast, but astutely mixes them with political propaganda. It’s true that there are lots of dangerous scams in the Bitcoin world, and the volatility of the cryptocurrency itself is a danger for unprepared investors, but centralizing everything under the “benevolent” control a bureaucratic nanny-state is not a good solution. You know, it isn’t like bureaucrats and nannies are always honest and always have your interest in mind.

Golumbia criticizes Ethereum creator Vitalik Buterin for being among the Thiel Fellowship alumni. But what’s wrong with that? Buterin made the free choice to accept money freely offered by a wealthy philanthropist and drop out of the official education system, which both consider as flawed. As a result, Buterin is now a wealthy young man and a fast-rising star in the tech world, which doesn’t seem failure to me. More like spectacular success.

Golumbia criticizes the Ethereum community for wanting to replace proven centralized governance with yet unproven decentralized crypto-governance. What Golumbia doesn’t want to see is that decentralized crypto-governance projects in Decentralized Autonomous Organizations (DAOs) and Corporations (DACs), though unproven at this moment, could soon develop viable and more democratic alternatives to centralized governance, which could be positively deployed in society at large. Looking at the world around me, I suspect we do need alternatives, and soon.

It’s often said that left-wingers love Big Government and hate Big Business, while right-wingers love Big Business and hate Big Government. But what if one (like me) dislikes both Big Government and Big Business? What if one wants to see alternatives to both? What if one wants everyone to be F R E E ?

I am persuaded that crypto-tech inspired by Bitcoin and BitTorrent can re-decentralize the web, which has been stolen and centralized by Big Government and Big Business. Some promising examples are under development. I am also persuaded that the technologies and procedures that are being experimentally prototyped in today’s DAOs, DACs and token-based cooperative initiatives could usher in a new age of Decentralized Autonomous Work 2.0 where everyone will have the option to be a free agent instead of a wage slave and a drone controlled by Big Brother.

David, please tell me what the foo is wrong with that.

I am persuaded that the real political conflict of our times is not between the Right and the Left, or between liberals and conservatives, but between live-and-let-live libertarians on the one side, control freaks and thought cops on the other. Regardless of the flaws that current crypto-systems might have, Bitcoin and crypto are firmly in the libertarian camp, and the current efforts to develop next-gen crypto are important political acts.

Picture from Pixabay.

 

The post Bitcoin is not Right or Left: Bitcoin is a third way appeared first on Crypto Insider – Bitcoin and Blockchain News.


Source: cryptoinsider.com

The post Segwit2x, UASF and the Possible Fork – Here’s What You Need to Know appeared first on 99 Bitcoins.

This post compliments the previous post we’ve written about the controversy within the Bitcoin community on March 2017. If you want a deeper understanding of what’s going on please read the original post. If you just want the gist of it, continue reading… Recently people have been asking about SegWit, August 1st and the possibility of a split […]


Source: 99bitcoins.comNew feed

Invest.com’s prediction market product Stox will launch a token sale using Bancor’s smart token protocol, TechCrunch reports. The funds raised will be used to develop the Stox open source, Ethereum-based prediction market platform, and increase the Stox marketing and sales groups.

To avoid giving the impression of a “me-too” casual joiner in the token craze, Stox CEO Ophir Gertner emphasizes that Stock is a serious business managed by experienced professionals. To further differentiate Stox from the unwashed ICO masses, they don’t refer to the move as a “Token Sale.” It’s a “Token Generation Event.”

“The biggest difference, is that there is a real, substantial, experienced company behind this,” said Gertner. “This isn’t a few folks and a whitepaper that have never managed a company, dealt with user acquisition, weather the ups and downs, etc.”

In fact, Invest.com is a solid business. “Invest.com is the hedge fund for the people,” claims the company’s Crunchbase profile. “With invest.com you have easy and affordable access to tailored investment portfolios comprised of cutting edge investment strategies… We adhere to international financial regulations and are authorised in the European Economic Area. We maintain the highest standards of security to protect your data and your money.” The company has 3 million registered clients and reported $50 million in annual revenue.

Prediction markets are speculative markets created for the purpose of making predictions. The current market price for a prediction ‒ for example the election of a particular candidate ‒ can be interpreted as an aggregate, crowdsourced estimate of the probability of the prediction. In April Crypto Insider reported that Ethereum-based decentralized prediction market platform Gnosis raised $12.5 million in a token sale that completed in three hours.

Stox wants to be an open source, Bancor based prediction market platform, which allows anyone to predict and trade the outcome of events in finance, sports, politics, the weather, and other categories.

“The end goal for Stox is to create the leading decentralized prediction market used by mainstream audiences by maintaining a thriving ecosystem of users looking to invest in event outcomes and providers looking to create events and be compensated for operating them,” states the Stox website. “The main role of Stox is to develop the open source technology required for running the decentralized Stox platform and network and create a successful model incentivizing both users and providers to join the network.”

No date is given for the start of the Stox token (STX) sale, just that it’s “coming very soon.” While Gertner emphasizes that Stox is more than a whitepaper, there is a detailed Stox whitepaper. From the whitepaper we learn that the team aim to implement the Stox internal token, dubbed STX, as a Smart Token based on the Bancor protocol – an ERC20-compatible token template, which offers continuous liquidity via an on-chain market maker.

Bancor, which raised $147 million with it’s own token sale last month, wants to become a “YouTube for currency” that allows anyone to create their own cryptocurrency token and operate it independently of a third-party exchange, Bancor cofounder Eyal Hertzog told VentureBeat. See also Crypto Insider‘s interview with Bancor CEO Guy Benartzi, published in May.

Image from Pixabay.

The post Prediction Market Stox to Launch STX, a Smart Token Based on the Bancor Protocol appeared first on Crypto Insider – Bitcoin and Blockchain News.


Source: cryptoinsider.com

Australian Computer scientist Dr. Craig Wright, who has claimed to be the creator of Bitcoin, founded nChain to accelerate blockchain adoption globally. Since founding the company, he has commented regularly on the bitcoin and blockchain industries.

The Chief Scientist for nChain, Dr. Wright blogged recently about why he believes SegWit poses a risk to the future of bitcoin. (He does support removing the bitcoin blockchain’s “artificial” 1MB block size limit in favor of increased scalability, just not the same way SegWit achieves this).

While 51 percent attacks are “unlikely” in the current bitcoin iteration due to the cost of mining bitcoin, Dr. Wright contends “SegWit opens the door to methods of collusion and mining cartels which could undermine the bitcoin network.”

Claims Dr. Wright in the blog post : “If implemented, SegWit would change this for the worse. It opens the door to an economic incentive model that would encourage mining cartels to form. As the bitcoin network currently operates, there is no incentive for miners to form cartels. Mining pools are not cartels; they are a firm.”

Dr. Wright cites the “AnyOneCanSpend address”, introduced by SegWit, as a fundamental change to bitcoin that could change the digital currency forever. The Australian computer scientist calls this “essentially a blank signature for transactions.”

He goes on: “SegWit uses an ‘AnyOneCanSpend’ address so that transactions will be validated and recorded into blocks, even though the sender/receiver signature data is separated.”

“AnyOneCanSpend” outputs, according to Dr. Wright, would allow any miner to spend funds associated with specific transactions. “[T]therefore, SegWit would introduce new rules for interpreting ‘AnyOneCanSpend’. This means that miners could not take advantage of that output address to inappropriately spend the funds associated with all SegWit transactions.”

SegWit proponents assume “all miners will agree to play nicely, never steal funds, and funds will be locked up safely.” Dr. Wright disagrees.

The self-claimed bitcoin founder says there are “several hundred attack scenarios which SegWit could open.” When a cartel achieves 51% of the network hashing power, it switches to the original bitcoin protocol, thereby changing outstanding SegWit payment as well as the last block payments to AnyoneCanSpend addresses. The cartel can then redistribute the funds to themselves.

“As the volume of payments into SegWit addresses increase, the incentives for miners to defect from the network also increase,” writes Dr. Wright, who says in its current iteration bitcoin grows more secure and less vulnerable to attack as it becomes more widely used.

SegWit modifies the protocol fundamentally in a way opposite to this, Dr. Wright contests. “…[I]t allows it to become more and more vulnerable over time. If (for example) in the first week of a SegWit implementation, there are $100 million worth of transactions under SegWit, governments and other state players with increased incentives to attack bitcoin will benefit. The creation of a cartel secretly formed through a hostile government poses a serious risk to attack and seriously damage bitcoin. Such a cartel would not require an immediate 51% control through the centralised party.”

Cartels, contend Dr. Wright, can use their power to de-seat weaker players. “This strategy would involve finding mining pools that had been formally profitable but, due to a downturn or technological advancements or even changes in energy pricing, are finding it difficult to compete in the existing market,” he writes. “Joining the cartel would give these players a methodology to profitably leave the network. A final attack that is profitable in the short-term could fund the miner’s decision knowing that ongoing competition would be difficult.”

The new player running the cartel would then gain access to the existing market share and be able to buy access to the system at a depreciated price before returning to a system that does not implement SegWit, says Dr. Wright.

“With the flaws in SegWit then removed, the new entrant could gain a competitive advantage, low cost access to the market, and at the same time, subversive control,” he writes. “These scenarios of cartel attacks against the bitcoin network may seem alarmist, but they are very real possibilities lurking behind the SegWit door.”

Dr. Wright is part of a camp that doesn’t believe in “user validation”, Bitcoin core developer Eric Lombrozo told Crypto Insider. Mr. Lombrozo, the CTO and Founder of cryptographic asset development firm Ciphrex, has more than twenty years building enterprise-scale software architecture, information security and systems integration tools. He has been an active participant in the blockchain project collaboration and open-source development industry.

“Users being able to validate their own transactions is key to how bitcoin works,” Mr. Lombrozo told Crypto Insider. “If miners really had the power to change the rules on a whim, Bitcoin would cease to be very interesting. Individual users and businesses validate their own transactions and reject any blocks that break the accepted rules. The inability for a third party to arbitrarily change the rules contrary to the wishes of the users is a key feature of the network and an important source of its value.”

Mr. Lombrozo adds: “There is a bounty on Litecoin for this exact attack which nobody has yet claimed because it’s practically impossible – it would require an extremely long blockchain reorganization. If this were possible to do it would violate the blockchain security model at a very fundamental level.”

Image from BTC Keychain/Flickr.

The post Dr. Craig Wright Warns Against Mining Cartels appeared first on Crypto Insider – Bitcoin and Blockchain News.


Source: cryptoinsider.com

In a recent interview on Trace Mayer’s Bitcoin Knowledge Podcast, Kraken CEO Jesse Powell discussed the tremendous growth of the cryptocurrency industry in 2017. While Powell admitted that Kraken has had issues scaling to meet the massive influx of new users to the cryptocurrency exchange, he added that the market for cryptocurrencies is still likely to grow at least another ten to a hundred times over in the coming years.

 

Massive Growth at Kraken

During the interview, Powell discussed how incredible the growth of the exchange and the cryptocurrency market as a whole has been recently.

“It’s been crazy,” said Powell. “The last quarter was by far – you know maybe 10x – above the largest previous quarter, so the growth has been immense.”

According to Powell, the exchange is now dealing with 4,000 new support tickets per day. At its peak, the exchange had a backlog of 50,000 support tickets, but they’re now taking care of the tickets faster than they’re coming into the site.

“This happens in any rally where you get a lot of newbies coming in, and they have a lot of newbie questions,” said Powell.

In addition to the growth in the cryptocurrency markets, Kraken also acquired Glidera late last year, which they rebranded to Kraken Direct. The service allows users to easily buy and sell bitcoin from the comfort of their own wallets.

Expanding Kraken to Deal with the Growth

According to Powell, Kraken has hired 150 people in the past two months. However, the CEO is worried about a possible scenario where cryptocurrencies enter a bear market and the need for all this additional personnel dissipates.

Powell claimed that a similar situation occurred during the bitcoin frenzy of late 2013 when the company expanded to 35 employees before eventually having to cut back to around 12 after the hype died down.

During the interview, Powell also indicated that their own exchange’s growth can also impact their banking relationships, which further compounds already existing issues for their users.

“[Our banking and payment partners] might be fine with what the usual volume is, but an overnight 10x in wire transfers or KYC requests – because they will often want to do enhanced diligence – and if they have to do 10x what their enhanced diligence is, they might need to hire more people themselves,” explained Powell.

Powell added that the banking partners then need to decide whether to let the bank wire requests pile up or go ahead and hire more people to handle the extra workload that may evaporate after the cryptocurrency markets calm down.

Bitcoin Will Continue to Grow

In terms of Bitcoin’s future potential, Powell claimed there is still plenty of room for further growth.

“If the source of many of our tickets is any indication, [cryptocurrency] is just going to continue to grow,” said Powell. “90 percent of our support tickets are related to some sort of fiat payments problem . . . On the [cryptocurrency] side, no problems.”

“I think the space has easily 10-100x room to grow and probably even further than that,” added Powell.

Image from Pixabay.

 

The post Kraken CEO Estimates Last Quarter Was 10x Previous High for the Bitcoin Exchange appeared first on Crypto Insider – Bitcoin and Blockchain News.

Source: cryptoinsider.com

Kindly note that this is a paid press release. CryptoInsider does not endorse nor take responsibility in any way, shape or form for the statements below. We encourage thorough due dilligence from our readers before acting on any given information. CryptoInsider absolves itself of any damage or loss caused through direct or indirect action based on the contents below.


Dubai, July 17th, 12:00 GST —

OneGram, a gold-backed and Islamic finance-ready cryptocurrency, is nearing the halfway point of its ICO and feeling confident in the face of a volatile market. With the crypto market cap dipping from a $110 billion peak to ~$70 billion, OneGram reaffirms its position as a stable asset-backed cryptocurrency that is building towards long-term goals.

“The value of most coins in their ICO or post-ICO today is determined as a result of speculation. They are all in a conceptual phase, or an MVP at best, with their value largely derived from people believing they are going to be worth more and more in time. Any event that causes that belief to weaken (as we are seeing now) causes a colossal collapse of those coins’ worth. Even bitcoin, whilst arguably more stable, is susceptible to this.”

Daniel Dalton – OneGram community manager.

In contrast to the ongoing volatility, the OneGram team affirms that an investment into OGC is first and foremost an investment into the stability and security of gold. 90% of ICO investment goes into gold backing the coin, the value of which can be retrieved by the investor at any time. As such, regardless of market movements, OneGram investors will never see a greater than 10% loss in their ICO buy-in.

With the ICO lasting 120 days, the team made a decision to break the norm of 1-2 week ICOs in order to encourage people to make calculated and researched decisions. The vision is to “develop cryptocurrency infrastructure in the ME&A regions and South Asia for the long-term, and we have already begun to do so thanks to our early investors” states OneGram founder, Ibrahim Mohammed. OneGram also aims to capitalize on its first movers’ advantage in the Islamic financial market, $1.2 trillion in size, through being the first Sharia-compliant cryptocurrency. They believe this is one of their main unique selling propositions in contrast to other asset-backed cryptocurrencies.

Ultimately, the OneGram team feels self-assured in the face of a bearish cryptocurrency market – stating that the OGC is designed to withhold value through asset-backing in hard times, and flourish through solid blockchain design and strong links to Islamic finance in the long-term.


Website: onegram.org

E-mail: press@onegram.org

Slack: slack.onegram.org

Subreddit: /r/onegramcoin

 

The post OneGram Confident in the Bear Market appeared first on Crypto Insider – Bitcoin and Blockchain News.

Source: cryptoinsider.com

The post How to Buy Zcash in 3 Simple Steps – A Beginner’s Guide appeared first on 99 Bitcoins.

What is Zcash (ZEC)? ZCash is a new project which is headed by Zooko Wilcox, that’s here to tackle one of bitcoin’s most urging issues – traceability. As you may or may not know Bitcoin isn’t completely anonymous. Zcash has one major added feature on top of bitcoin, which is completely private transactions. This means […]


Source: 99bitcoins.comNew feed