Spiritually Speaking: Being a blessing is the only road to being blessed – The Philadelphia Tribune

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I think Im beginning to understand more clearly, at least from a spiritual perspective, the whole notion about blessings. I mean havent we all been taught at one time or another that it is far better to give than to receive? Christian or not, kindness and goodwill are thought to be wonderful attributes of all of Gods people. Forgiveness and mercy are considered staples of the Christian diet. The result, we believe, is a reaping in this life or the next of God given rewards for a life spent giving with no hidden expectation of receiving in return. That all sounds good until somewhere in your world, life happens. At a very early age we learn that life is cruel, unpredictable and the only religious factoid we experience is that our kindness is generally taken as weakness and our generosity viewed as foolish. Life and the people in it will use you if you let it/them. Pain often comes from an attempt to help somebody who doesnt give a damn about you. It is the reason many a good person goes bad.

People will protect themselves against this kind of personal anguish. We learn how to survive in spite of disappointment. We all eventually learn to navigate a world in which weve come to believe nice guys do finish last, takers succeed and cheaters, well, they cheat and win. Now here comes scripture with the edict that giving is always better than receiving. As a matter of fact, it is a Christian prerequisite. I thought about this and came to the following conclusions. You dont know what kind of mother youll be until you have children. You dont know what kind of friend youll be until you become one. You cannot know the depth of your ability to love someone until you are head over heels caught up in it. The point is you cant really know yourself as a human being until you share your life with others, without fear, without restrictions, without conditions. For many, including me, this is tough duty because life is so cruel. However, only by being a friend can you know true friendship. Only by giving love unconditionally can you understand unconditional love. Only by being a blessing can you know being blessed.

It doesnt appear to work any other way. If you go through life just existing with a self-imposed set of criteria, then guess what? Thats what youll get in return; love and friendship with strings attached. You cant expect your prayers to be answered if your prayer life stops with, IF. I believe you block countless blessings if your prayers include no one but you and they echo the trials and tribulations of your life only. God really shouldnt have to ask what have you done for Him lately, when He asks so little of you in the first place. Just act like you know who He is and who we are in relation to Him. Blessed is he who comes in the name of the Lord. John 12:13. Like I said, being a blessing is the only road to being blessed. Now take a look at the nonsense of this world. It gives you clarity.

May you be a blessing to someone and may God bless and keep you always.

James A. Washington is the publisher of The Dallas Weekly. He can be reached at dallasweekly.com.

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Spiritually Speaking: Being a blessing is the only road to being blessed - The Philadelphia Tribune

David Brooks discusses spiritual hunger, Weave project in Baylor visit – Waco Tribune-Herald

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New York Times columnist and author David Brooks visited Baylor University once more to talk about his new book, his older work, and a topic hes long avoided: himself.

Brooks returned to focus less on politics in favor of more personal questions about faith, vulnerability and what he sees as an epidemic of social isolation. Alan Jacobs, with the Baylor Institute for Studies of Religion, led the conversation on the eve of another local appearance with Mission Waco on Tuesday.

Jacobs said Brooks newest book, The Second Mountain, stands apart from his previous work.

There is, typically, in your writing, a gently ironic distance in your writing, Jacobs said. It is rather disconcerting to see you be so straightforward and so open.

The book discusses his Jewish upbringing, his experiences with Christianity and his own personal ambivalence toward belief as he grew up, and his admiration for Catholic activist Dorothy Day and Saint Augustine as well as a painful divorce.

In the other books, it was about stuff I was working on in my life, but it was through some sort of mask, Brooks said in reply. So I had to take off the mask.

He writes that after his divorce, which he describes as a painful ordeal, he came to a deeper understanding of God, describing himself as a wandering Jew and a very confused Christian.

The perverse thing is that I feel more Jewish now than ever before, because the covenant seems real, and its not just something we said on Passover, Brooks said.

Brooks spoke about his earlier work, Bobos in Paradise, The Social Animal and The Road to Character. He said each book is about reaching a deeper level of understanding whats missing in conventional politics, while The Second Mountain is primarily about spiritual understanding. During the discussion, Brooks spoke about what he sees as the heart and soul missing from politics.

Wokeness, is deeply spiritual, Brooks said. Its just as spiritual as the Great Awakening, its just that the sin is called privilege.

He described speaking at political conferences and finding people starved for spiritual conversation.

You get a sense of insane spiritual and emotional yearning, especially in the last five years, Brooks said. The only time I dont find that yearning is at a Christian school.

The book pulls from a wide variety of sources to make points about finding fulfillment in the face of a predominantly individualistic, meritocratic culture that Brooks sees as steering people away from deeper understanding.

The character model I had, control your passion it was too individualistic, it was too self-imposed, Brooks said, referring to his 2015 book The Road to Character.

The Second Mountain outlines what Brooks sees as a path to a more fulfilling life. The first mountain, as described by Brooks, represents the period in a persons life spent striving for success and achievement in their careers. Brooks writes that an individualistic mindset can only get a person so far, and the view from the top of the first mountain will likely be unsatisfying.

The book outlines four major commitments that define much of a persons life: a commitment to a vocation, a spouse, a philosophy or faith, and a community. He said the existential crisis between the two mountains as the valley, and advocates for letting go of self-interest in favor of digging deeper into those commitments.

He writes that dedication to those commitments and looking outward to others instead of inward to personal happiness defines second mountain mentality, which can lead to the fulfillment that is missing from the first.

He discusses the plight of graduating college students uncertain about their future and states that simply telling them to believe in themselves without providing more concrete direction will only make their 20s harder. He said the internet serves as a diversion from finding that meaning by taking up too much of our time and exacerbating feelings of inadequacy and isolation.

[Isolation] is, I think, the issue of our day, Brooks said.

He said he cofounded Weave: The Social Fabric Project, in response to what he sees as a chronic isolation, fragmentation and loss of community in the country. The project, which he created with The Aspen Institute, intends to shine a spotlight on people who work for a wide variety of causes within their communities.

There is a continuum between a life of selfish individualism and agape, Brooks said. I wanted to hold these people up as examples.

Jacobs then led the audience into a Q and A, during which people watching a live stream of the conversation could text questions.

John White, director of the Faith and Sports Institute, said hes been a fan of Brooks for years.

Hes definitely more conservative on many issues, White said. I think he has incredible nuance and he can address both sides when it comes to cultural and political matters.

Brooks frequently jokes that being a conservative New York Times Op-Ed columnist is a little like being a lone rabbi in Mecca.

Katherine Power said she came to Baylor to visit her granddaughter, a Baylor student. She said shes seen Brooks speak before in Dallas and enjoys the way he breaks down the topics in his work during live discussions.

Its been interesting to me to see how hes evolved over the years, Power said.

Brooks married Anne Snyder, a researcher he worked with closely on his previous book and current editor-in-chief of Comment Magazine, in 2017. Brooks and Snyder will speak at a Mission Waco fundraiser at 10 a.m. Tuesday at the Waco Convention Center.

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David Brooks discusses spiritual hunger, Weave project in Baylor visit - Waco Tribune-Herald

Meet Greta Thunbergs spiritual precursor: The 12-year-old who silenced the world – RT

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Greta Thunberg has established herself as the planets spokeswoman on climate change at the tender age of 16. But long before social media, another teenager was scolding UN leaders on the world stage 27 years ago.

In the year since she organized school walkouts in her native Sweden to protest climate change, Greta Thunbergs environmental crusade has been unavoidable, culminating on Monday in an angry and passionate speech before the UNs Climate Action Summit, in which she lambasted politicians for stealing her dreams and her childhood with empty words while humanity stares down a mass extinction.

Thunbergs grim pronouncements have earned her savage criticism, and glowing praise. New York Magazine called her the Joan of Arc of climate change, while The Guardian ranked her speech alongside President Lincolns Gettysburg Address for its historical significance.

Then again, they said the same about Severn Cullis-Suzuki in 1992. Long before Thunberg deadpanned to parliamentarians that we probably dont even have a future any more, and netizens tore each other to shreds attacking and defending her, 12-year-old Cullis-Suzuki became known as the "The girl who silenced the world for five minutes when she delivered a similar sermon before the UN Earth Summit in Rio de Janeiro.

The tone of Cullis-Suzukis speech is strikingly similar to Thunbergs. Weve come...to tell you adults that you must change your ways, she opened, just like Thunberg told the assembled adults we will not let you get away with this.

Just as Thunberg told the UN summit we are in the beginning of a mass extinction and all you can talk about is the money and fairytales of eternal economic growth, Cullis-Suzuki told leaders that losing my future is not like losing an election or a few points on the stock market.

And underpinning both girls messages was a nihilistic fatalism. I am afraid to go out in the sun now because of the hole in our ozone. I am afraid to breathe the air because I dont know what chemicals are in it, Cullis-Suzuki said in 1992. Striking schoolchildren in 2019 carry banners reading Youll die of old age, Ill die of climate change.

The environmental problems addressed by Cullis-Suzuki reflect the world of the early 1990s, when deforestation, the depletion of the ozone layer, and the extinction of species were the ecological concerns de jour. Yet humanity has been fairly successful at resolving those problems in the intervening years. Thanks to a landmark chemicals ban, ozone depletion has slowed dramatically, and forest cover worldwide has increased by an area the size of Texas and Alaska combined.

Cullis-Suzuki herself went on to found an environmental think tank and work for UN Secretary General Kofi Annans Special Advisory Panel in the early 2000s.

So what does the future have in store for Thunberg? Well that depends how you look at Cullis-Suzukis example. On one hand, none of her worst fears came to pass. On the other, world governments still have ecological problems to contend with, and are still being lectured by children about them.

Assuming the world as we know it still exists 27 years from now as Thunberg says it wont unless we slash carbon emissions to absolute zero in the next decade or so then the teenage activist will likely look back on a long UN and NGO career that kicked off with one famous speech.

By then, another concerned child will likely be delivering a passionate warning about acid rain in the Martian colonies.

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Meet Greta Thunbergs spiritual precursor: The 12-year-old who silenced the world - RT

Brad Pitt May Be Dating a Spiritual Healer But They Also May Just Be Friends – Jezebel

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Brad Pitt is dating a spiritual healer. Brad Pitt is not dating a spiritual healer. One of these is the truth, but one is not. Lets hear both sides.

First up: A source told Us Weekly that Pitt has been seeing Sat Hari Khalsa, a jewelry designer and holistic healer. A source cant be wrong, right?

According to the source, Khalsa, 50, is earthy, and much more low-maintenance than the women hes been with in the past. Shes very strong, adds the insider, and has a beautiful mind. Thats what hes attracted to.

Sparks allegedly began flying between the two last year, when they were seen laughing and talking intimately at a benefit thrown by the Red Hot Chili Peppers. Us acknowledges that the relationship isnt too serious...yet.

Brads not in that mind-set, notes the source, but still, Sat is very special to him and someone he enjoys spending time with.

Very compelling. Now, the dissent, courtesy of E!:

Rather, Pitt, 55, and Khalsa, 50, are simply friends. A point they proved while celebrating his new film Ad Astra last week. At the flicks after party, she was with another girlfriend and was talking to Brad, a second inside shared with E!. But, at no point during the party did there appear to be an obvious PDA or any indication that they were romantic.

Brad didnt really talk to her much, he was talking to different groups of people, continued the source. It was just friendly and not romantic.

HMM. Looks like theres only one way well know for sure: Stick them in an aquarium together and see what happens. [Us Weekly/E! News

Happy 90th freaking birthday to Barbara Walters, oh my god.

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Brad Pitt May Be Dating a Spiritual Healer But They Also May Just Be Friends - Jezebel

Children lead the way to stop violence, save Earth – National Catholic Reporter

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Very briefly, I remind us to continue to reflect on that message from the Book of Amos where he denounces those who continue to pile up wealth for themselves, mistreat the poor, and send them away. Through Amos, God says that ultimately they will not be successful. God will punish those who defraud the poor. In our own country just recently, another report was written and published on how the gap is growing between the rich and the poor in our country. It's not by accident, not by the fact that the rich work a lot harder. It's the way the system works the rich get richer and the poor get poorer.

We have to begin to look at that, especially through our public policies, our tax code all those things that make wealth flow from the poor to the rich. As God warned through Amos, we must try to bring about change. But the main thing I hope for us to reflect on today is what Jesus says in the Gospel lesson where he says, "The children of this world are more prudent in dealing with their own than are the children of light."

He's talking about his disciples and those who are not his disciples. "The children of this world," he says, "are prudent, acting on their own behalf, more than the children of light." Now this is troubling, I'm sure, to most of us. It seems that Jesus is calling attention to those who defraud others and calls them more prudent. They are, in a very worldly way, more prudent. But Jesus is trying to call our attention to the fact that we, who are truly children of light, disciples of Jesus, must try to overcome the problems in our world that are literally destroying us within our nation and our planet, our beloved Earth.

It's amazing, I think, that it really is the children of light among us who are leading the way of the two most important problems, I think, that face us. Children are leading the way. This year between Memorial Day and Labor Day, this very summer, there were 26 mass shootings in our country. In three months 26 mass shootings. Violence seems to be overwhelming us. There were 126 people killed, including a 3-year-old girl and a 90-year-old man. Hundreds of others were wounded during these 26 mass acts of violence.

Who's leading the way and bringing change? It's the young people. Those young people who, a couple years ago, had a mass killing in their high school in Parkland, Florida, are still out there working to change our laws to prohibit the kind of assault weapons that are used in these killings. Our government leaders keep stalling, not making the changes that are necessary. Perhaps we fail to put on the pressure to make those changes.

But our young people, truly acting as children of light, are bringing about change, or certainly working to bring about change. It's time that all of us got behind their efforts. We need to stop this violence in our country. It's an absolutely atrocious kind of evil that seems to be overwhelming us. Twenty-six mass killings in the last three months and everyone knows there will be another one soon unless we change things, become supporters of those who are trying to bring about changes that will stop this violence.

But then there's another way in which young people are truly acting as children of light. This past Friday, a couple of days ago, there were demonstrations on every continent. Millions of young people, again, were involved demanding that we make international treaties to stop what's happening to our planet. We're destroying this world that Jesus taught us to love. Do you remember how he spoke so fervently about the flowers of the field and the birds of the air? God takes care of them, Jesus says, because God loves them. We destroy them.

In the past 50 years, over 26 billion species of birds have been destroyed. That means lots of dramatic and disastrous changes in our planet because our ecological system is all connected. When we destroy one part, it affects other parts. If we don't stop within 15, 20 years, our planet will not be able to support human life. As the youngsters throughout the world this past Friday went on strike, they were demanding that we make the changes.

There is a climate treaty. Our country pulled out of it; we're not supporting it any longer. The young people are saying, "This is wrong." The leader of the group and she is an amazing young person, 16 years old, Greta Thunberg from Sweden for the last two, three years has become very famous because she is speaking out. This week, a 16-year-old youngster will be speaking again to the United Nations urging all the nations to make the changes that will save our planet.

Pope Francis has written a beautiful encyclical letter, "Laudato Si'," "praise God for this earth." It's built on a canticle of St. Francis of Assisi. We need to become serious, become children of light, follow the leadership of our own children throughout the world all of those who took the time off on Friday to make public protests on every continent. We need to listen; we need to follow that lead. Jesus urges us to love the world that God has given to us, just as God loves this world and provides for the birds of the air and the animals on the planet.

Jesus, it seems, was kind of amazed that the children of this world are more prudent than the children of light. He wasn't praising them; he was asking us to be prudent in regard to our very planet, to save it. It's time that we listen to the young people, prophets in our midst who are listening to Jesus and following him. Perhaps if we do, we can end the violence and save our planet. It's not just a political issue; it's a religious issue. God, through Jesus, rejected violence of every kind and insists on love. God, through Jesus, showed love for the planet. We must follow God's way.

Editor's note:This homily was given Sept. 22 at St. Ambrose Church, Grosse Pointe Park, Michigan. The transcripts of Bishop Thomas Gumbleton's homilies areposted weeklyto NCRonline.org.Sign up hereto receive an email alert when the latest homily is posted.

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Children lead the way to stop violence, save Earth - National Catholic Reporter

Bitcoins Competitors Are Missing The Point Of Cryptocurrency And Blockchain Technology – Forbes

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In a Medium post published earlier this month, Castle Island Ventures Partner Nic Carter explained the utility of Bitcoin (BTC) as a revolutionary alternative to the traditional, government-approved banking system. Additionally, Carter wrote about how the thousands of Bitcoin competitors that have popped up over the years have missed the point of this new technology.

On a recent episode of Laura Shin's Unchained podcast, Carter discussed this secondary point on altcoins in greater depth. While Carter noted that the relative success of Ethereum (ETH) cannot be ignored, he also indicated that there are very few chains other than Bitcoin and Ethereum that have any real usage whatsoever.

The Problem with Altcoins

When Shin asked Carter if there were any coins besides BTC that he viewed as legitimate or promising, he responded with an explanation of the key issue that the altcoin market has faced ever since the first alternative cryptocurrencies were created back in 2011.

"The problem I identify in the article is that there has been insufficient attention given to the legitimacy-conferring factors for the long tail of altcoins," said Carter. "And so, the emphasis has always been on technical innovation some of which were really marginal technical innovations and really insufficient attention to the things that I believe matter, which is like: How do you ensure that the developers can't abuse their privilege within the system? Are there checks and balances? Is the monetary policy credible, for instance? And oftentimes, what we actually see in these systems is those credibility-endowing facts are traded off to achieve glamour metrics or technical thresholds."

Carter used the EOS altcoin as an example of this issue. While supporters of EOS tend to point to the high number of transactions the network can process per second as a key selling point, the fact that trade offs are made in terms of the relative centralization of the validator set is oftentimes overlooked. Some of the issues associated with this centralization of the validator set were covered in a recent CoinDesk article.

"[A high degree of centralization] poses a greater threat to the long-term legitimacy of the network, which is not outweighed by the marginal technical enhancement there," added Carter.

The level of centralization around publicly-identifiable validation nodes seen in some altcoin networks, such as EOS and Ripple (XRP), puts into question whether these altcoins should even be referred to as true cryptocurrencies.

Is Ethereum the Exception to the Rule?

The one possible exception to Carter's view on altcoins that came up during his discussion with Shin was Ethereum. Just last week, Ethereum's native ETH token enjoyed one of its best ever 24-hour price moves against BTC. However, it should also be noted that ETH was down 85% against BTC since March 2016, which was the peak of the "flippening" hype, as of late July.

"At this point, you can't deny that Ethereum has a really vibrant community and kind of organic groundswell of usage and development," said Carter. "Beyond that, I would say it's very sparse."

That said, Carter also holds the view that the only cryptocurrencies worth creating are those that aim to be money. Due to the fact that ETH has long been described as a sort of digital gas for computing costs rather than money, Shin gave Carter a chance to explain this apparent inconsistency in his views.

"Ethereum probably should contend and aim to be money, and I think we noticed a little recalibration where initially it was computational gas, like the lubricant in the system, and then more recently certain high profile [Ethereum users] have been saying, 'Well, actually, Ethereum itself is money,'" said Carter.

To Carter's point, Ethereum creator Vitalik Buterin recently stated that ETH can be money if that's what the community wants at Ethereal Tel Aviv 2019. Joseph Lubin, who co-founded Ethereum and founded the blockchain technology company ConsenSys, also made the case for ETH as money during the same discussion at the Ethereal event.

ETH's pivot away from gas and towards money has mainly been promoted on the backs of the various decentralized finance (DeFi) applications that have launched on Ethereum in more recent times.

According to Carter, value accrues in a cryptocurrency network when users decide to hold the underlying token of the network for long periods of time rather than when someone utilizes the token for any sort of short term value transfer (read more on this in an older post).

Shin pointed out that there is also a need for ETH to have value in order for Ethereum's upcoming move to proof-of-stake to work from a security perspective. Of course, this applies to proof-of-work systems as well. After all, the miners need to be incentivized to secure the legitimacy of the transactions on the network.

While the market views BTC as the more valuable and trustworthy form of crypto money today, it still has its own issues. A Bitcoin mining veteran recently described the level of centralization in the industry as "quite alarming." Blockchain technology company Blockstream recently revealed their own massive Bitcoin mining facilities to the public, which is their attempt to help with the problematic situation around mining centralization.

These potential issues around mining centralization have not stopped various individuals from increasing their Bitcoin price targets to anywhere from $42,000 by the end of this year to $100,000 by the end of 2021.

While Bitcoin has had a great year thus far, a bigger winner has been Chainlink (LINK), which was up more than 800% against the US dollar year-to-date at one point.

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Bitcoins Competitors Are Missing The Point Of Cryptocurrency And Blockchain Technology - Forbes

North Korea’s cryptocurrency shows the limits of Trump’s ‘maximum pressure’ – Business Insider

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North Korea claims that it is creating its own cryptocurrency. Bitcoin and other cryptocurrency prices fell on the newsat least brieflybecause if North Korea is developing its own cryptocurrency, that may reduce its demand for existing cryptocurrency options.

This tells us something about the importance of bitcoin and other cryptocurrencies to North Korea. And American policymakers would do well to understand why North Korea is so heavily involved in these encrypted digital currencies, and the implications of their involvement.

North Korea's new digital currency will be "more like bitcoin or other cryptocurrencies," said Alejandro Cao de Benos, who is both a North Korean official and a Spanish national long fond of the despotic regime.

"We are still in the very early stages in the creation of the token," he added. "Now we are in the phase of studying the goods that will give value to it."

Normal financial transactions are centralized. When you write a check to someone else, for example, your check is used by that other person's bank to go to the Federal Reserve and withdraw money from your bank's account at the Fed. Because the transaction flows through the Federal Reserve, which acts as an intermediary, this is a centralized ledger: The Fed stands between the two banks and acts as a neutral party in their transactions.

Bitcoin, on the other hand, is a computer code that allows a decentralized payment ledger. Bitcoin's computer code keeps track of who owns what and when all on its own. It does this by incentivizing owners of computing power to "solve" a mathematical equation each time a bitcoin changes hands.

Once that mathematical equation is solved, a new set of codewhich says who owns each bitcoinis added to the previous set of code. This chain of code is called the "blockchain." And because no one person owns or single-handedly tracks the blockchain, the process of clearing and settlement has been democratized, and decentralized.

This accomplishes two things. It removes counterparty risk, so the buyer and seller don't need to trust one another, and it removes third party riskthe owners of bitcoin don't need to trust the computers clearing and settling bitcoin transactions (though bitcoins can still be stolen from an exchange, which is a separate matter).

This decentralization is incredibly valuable to a sanctioned country like North Korea. America's sanctions power flows from the dollar being the world's reserve currency, and the power this gives the American banking system.

Because the US government controls the Fed, which controls the dollar, the US government has sway over a large portion of international transactions. Because doing business with North Korea means getting cut off from access to dollars and the US (and therefore global) banking system, any bank or company wishing to stay above board must avoid North Korea altogether.

Yes, bitcoins can be tracked, especially when sent through regulated exchanges. But it is much harder to track cryptocurrencies than it is to track dollars. And using cryptocurrencies helps North Korea circumvent the American-centric financial system that gives America its sanctions power.

That's why North Korea has long used bitcoin to dodge sanctions. For example, North Korea makes money via hacking, and cryptocurrencies help North Korea launder that money and put it to work for other uses. Aside from talking up moves to create its own digital currency, the rogue state held its first ever blockchain and cryptocurrency conference in April. Meanwhile, Russia, Venezuela, and Iran have a similar interest in cryptocurrenciesall for the purpose of sanctions evasion.

The implication for America is that this cat-and-mouse game makes economic sanctions campaigns hard to sustainand it increases the cost on the US of employing such coercive measures. The more Washington resorts to broad sanctionsnot targeted on specific regime officials or entities but at a foreign economy more generallythe more countries like North Korea, and even our European allies, will develop means of evasion.

Aside from this, sanctions are usually ineffective at achieving their desired goals. But the efficacy of broad sanctions is just one reason why Washington should use the blunt force of broad sanctions far more sparingly than it does.

The other reason? US politicians and officials seem to think that using sanctions is a win-win. They are wrong. Over time, sanctions power wanes. Overusing sanctions, especially broad sanctions, encourages countries to build their own institutions and systems outside of America and the dollar. In this way, sanctions chip away at dollar dominance, threatening to severely reduce US power.

There's already proof of this, and cryptocurrencies used by Russia, Iran, and North Korea are but one piece of this equation. Already, China is buying Iranian oil priced in Chinese renminbi (RMB) rather than petrodollars. Russia, while selling China natural gas, has agreed to issue RMB-denominated bonds. And even Europe has examined ways to escape US secondary sanctions to buy oil from Iran, keeping it in the JCPOA.

None of this should be taken to mean the dollar's dominance will soon endbut it won't be the world's reserve currency forever. Abusing sanctions hastens this inevitable decline.

Broad, "maximum pressure" sanctions erode US dominance. Just like using missiles or troops, there are consequences for the overuse of sanctions, often unseen or difficult to measure. Let's hope Washington policymakers figure this out before it is too late.

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North Korea's cryptocurrency shows the limits of Trump's 'maximum pressure' - Business Insider

Congress Questions The SEC On Libra, Cryptocurrency And The Whole Blockchain Phenomenon – Forbes

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The House Financial Services Committee (HFSC) held a hearing on Tuesday, September 24, 2019 titled Oversight of the Securities And Exchange Commission: Wall Streets Cop On The Beat. For the SEC, this was a chance for all five Commissioners to publicly meet together and sit as witnesses before the Committee in the House of Representatives. For Democrats, this was an opportunity to discuss Facebooks Libra and how the SEC might also be Big Techs Cop On The Beat with respect to Libra and cryptocurrencies.

Chairwoman Maxine Waters (D-CA) has been unrelenting in her concern of Facebooks new Libra project and todays hearing was no exception. The following timeline indicate her rigor and focus on Big Techs move into cryptocurrency:

In the hearing on Tuesday focusing on the SEC as Wall Streets cop on the beat, the Chairwoman wasted no time turning her attention to how the SEC also needed to be Big Techs cop on the beat as well.

Im very concerned about Facebooks plan to create a digital currency Libra and digital wallet Calibra. It appears that Facebook is working to create a global financial system that is intended to rival the U.S. dollar...I hope to hear what steps the SEC has taken is doing to ensure that Libra is appropriately and rigorously regulated.

Chairwoman Rep. Maxine Waters, D-Calif. speaks to a colleague as David Marcus, CEO of Facebook's ... [+] Calibra digital wallet service, testifies before a House Financial Services Committee hearing on Facebook's proposed cryptocurrency on Capitol Hill in Washington, Wednesday, July 17, 2019. (AP Photo/Andrew Harnik)

During the question period, Chairwoman Waters asked whether Chairman Jay Clayton of the SEC had a specific committee, commission or advisory group to focus on Libra. Clayton responded that the SEC does have a group focused on digital assets examining both the potential they have to add efficiency as well as the risks they create. He noted, To the extent that crypto assets would be used to evade ... regulations, I have a real problem with it.

Representative Al Green (D-TX) followed up on the Chairwomans concerns on Libra and provided an overview of how the Libra Reserve will be funded by the Libra Association. Members pay $10 million to join the Libra Association and receive a Libra Investment token, which entitles them to receive dividends. The fact that the Libra Coin is funded from the Libra Investment token potentially means both tokens would be classified as securities by the SEC. Chairman Jay Clayton welcomed Representative Greens offer to write a letter to the SEC with what he feels the proper disposition of Libra should be.

The comments from Representative Green were very similar to the Committee Memorandum provided prior to the hearing by the House Financial Services Committee, where it states, On the matter of whether both Libra tokens are securities, the Committee Memorandum states,However, the offer of Libra could be integrated into the offering of the Libra Investment Token, thereby deeming both securities. The Footnote referenced the SECs complaint against Kik on June 4, 2019 in regards to how the SEC could rule both Libra tokens as securities.

What about the entire blockchain phenomenon? What do you know about that? What work has been done on that? Is there an opportunity to perhaps brief the legislators on the work you are doing on Libra and the work you are doing or all of blockchain.

Republicans Ask For Regulatory Clarity On Digital Assets To Avoid Innovation Flight From America

For the House Financial Services Committee, this was a chance for many Republicans, particularly Congressman Warren Davidson (R-OH), Congressman Ted Budd (R-NC), and Congressman Anthony Gonzalez (R-OH), to ask for regulatory clarity for digital assets so that innovation and entrepreneurship in this new industry will thrive in the U.S. and not be driven to Singapore and the United Kingdom that have provided regulatory clarity for this new asset class.

Congressman Davidson stated that Bill Hinman, Director of the Division of Corporate Finance at the SEC, described an approach to digital assets through facts and circumstances rather than a bright line test, was not sufficient to providing the regulatory clarity needed in the United States for the digital currency space.

UNITED STATES - SEPTEMBER 24: Jay Clayton, center, chairman of the Securities and Exchange ... [+] Commission, testifies with commissioners during the House Financial Services Committee hearing on oversight of the SEC in Rayburn Building on Tuesday, September 24, 2019. SEC commissioners from left are, Allison Herren Lee, Robert J. Jackson, Clayton, Hester M. Peirce, and Elad L. Roisman. (Photo By Tom William/CQ-Roll Call, Inc via Getty Images)

This company by company approach prevents regulatory clarity and it suffers from the charm and inefficiencies of third world power structures.

Representative Davidson argued that this regulator clarity exists in Singapore, United Kingdom, and Switzerland while hundreds of countries in the U.S. await no-action letters. The Congressman went on to applaud Commissioner Hester Peirce in her comment that enforcement is a poor way to announce policy and asked Commissioner Peirce if a law passed by Congress would be a better way to announce policy. Commissioner Peirce responded it is always better to have a clear way as to what is or is not permissible.

Under questioning from Congressman Gonzalez (R-OH), Commissioner Peirce did note the recent SEC framework provided on digital currencies was guidance did muddy the waters.

Commissioner Peirce Suggests A Safe Harbor For Utility Tokens

Commissioner Peirce noted that, in terms of what the SEC needed to do for the digital assets space, that there is work to do to make sure people can develop in compliance with our rules. Chairman Clayton commented to the extent this technology facilitates more access in a protected way, he would not completely shut the door on token technology; however, in his opinion, the ICOs in 2017 were a very poor example of this.

Original post:

Congress Questions The SEC On Libra, Cryptocurrency And The Whole Blockchain Phenomenon - Forbes

The cryptocurrency market update: Bitcoin consolidates losses, altcoins explore the red territory – FXStreet

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The cryptocurrency market is a mixed picture ahead of the US opening. Bitcoin and major altcoins attempted to recover from the recent lows during early Asian hours; however, the upside momentum failed to gain traction and left the coins consolidate losses with bearish bias. The total market capitalization of all digital assets in circulation decreased to $255 billion; an average daily trading volumesettled at $60 billion, while Bitcoin's market dominance edged higher to 68.5%.

EOS announced its first hard fork and implemented a series of major updates; Several exchanges including Binance and Huobi announced the support for the fork. However, the coin failed to react to the positive news

Read more: EOS in retread after the first hard fork implemented on the network

At the time of writing, BTC/USD is hovering around $9,700. The first digital coin has lost over 2% of its value in recent 24 hours and stayed mostly unchanged since the beginning of the day.

Ethereum, the second-largest digital asset with the current market capitalization of $21.3 billion has stayed under pressure. The coin has lost nearly 6% in recent 24 hours and slipped below $200.00 to trade at $196.00 by press time. ETH/USD has recovered from the recent low of $194.60.

Ripple's XRP settled below $0.2700, close to the intraday low registered at $0.2637. The third largest coin with the market value of $11.5 billion has lost 2% in recent 24 hours and stayed unchanged since the beginning of the day.

Originally posted here:

The cryptocurrency market update: Bitcoin consolidates losses, altcoins explore the red territory - FXStreet

Dollar-pegged stablecoin Tether is now the worlds 4th biggest cryptocurrency – The Next Web

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Controversial USD-backed stablecoin Tether is now the worlds fourth biggest cryptocurrency, only surpassed by Bitcoin, Ethereum, and Ripple.

Tether, which is actually only 74-percent backed by cash and other assets, garnered a higher share of the market after a major sell-off.

According to CoinMarketCap, Tether currently has a market capitalization of $4.13 billion.

Its trading volume stands at $36 billion over the past 24 hours.

Meanwhile, Bitcoin undoubtedly the worlds most famous cryptocurrency suffered a considerable decrease in terms of both price and market cap.

Although Tether enthusiasts may see this as cause for celebration,I wonder how hardcore cryptocurrency fans will stomach a stablecoin pegged to the US dollar being in the top four its likely theyll find it outright tragic.

Come say hi to the Hard Fork teamat our blockchain event. On October 15-17 in Amsterdam, hear from top experts as they discuss the industrys future.

Published September 25, 2019 15:29 UTC

Read more here:

Dollar-pegged stablecoin Tether is now the worlds 4th biggest cryptocurrency - The Next Web

Venezuela may have Bitcoin and Ethereum, but its unsure how it can use them – The Next Web

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The central bank of Venezuela is reportedly looking into whether it can store cryptocurrencies in its coffers, Bloomberg reports citing four anonymous individuals close to the matter.

According to the report the banks investigation follows a request by Petroleos de Venezuela SA (PSDV) the countrysstate-owned oil and natural gas company which is apparently looking to send Bitcoin and Ethereum ETH to the central bank.

The institution would then use the cryptocurrency to pay the oil companys suppliers.

Its not known how PSDV came to own Bitcoin and Ethereum, or the value of its holdings, but its not hard to see why it would want to avoid selling its coins on the open market.

Doing so would entail registering with a cryptocurrency exchange and adhering to industry-wide due diligence checks, something which Im sure PSDV is happy to forego.

Employees at the central bank are also reportedly looking at proposals, which if enforced, would see cryptocurrencies count toward international reserves, which hit a 29-year low of $7.9 billionafter the country sold some of its gold reserves in May.

On a purely practical basis it would make sense for Venezuela, which is facing increased international sanctions, to explore the potential use of cryptocurrencies in hope of overcoming its isolation from the global financial system.

In fact, Nicolas Maduros authoritarian regime has been working to get El Petro, a state-run cryptocurrency, off the ground to little avail.

If anything, the governments constant efforts to resort to cryptocurrency serve to highlight just how desperate it is to devise a plan to bypass the sanctions.

In the meantime, though, Venezuelans are really suffering.

Come say hi to theHard Forkteam at ourblockchainevent.On October 15-17 in Amsterdam, hear from top experts as they discuss the industrys future.

Published September 26, 2019 15:52 UTC

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Venezuela may have Bitcoin and Ethereum, but its unsure how it can use them - The Next Web

Facebook reveals which currencies will back Libra cryptocurrency – The Independent

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Facebook has revealed more details about its controversial cryptocurrency project, unveiling which currencies will be used to back it.

In a letter to German politician Fabio de Masi, Facebook said that half of the Libra cryptocurrency would be backed by reserves of US dollars, while the euro, Japanese yen,British pound and Singapore dollar would also provide support.

Backing Libra with traditional currencies is designed to help solve the problem of price volatility, which continues to plague cryptocurrencies like bitcoin.

From 15p 0.18 $0.18 USD 0.27 a day, more exclusives, analysis and extras.

But notably absent from the basket of support currencies is the Chinese yuan the currency of the worlds second largest economy.

This may be a strategic decision by Facebook, who may hope that leaving out the yuan will help appease US regulators critical of Chinese economic and trade policy.

On 4 Feb, 2004, 19-year-old Harvard student Mark Zuckerberg launched a website called 'TheFacebook' from his dorm. Within 24 hours the college social network had more than 1,000 users

Wikimedia Commons

Within one week of launching, fellow Harvard students Cameron Winklevoss, Tyler Winklevoss and Divya Narendra accused Zuckerberg of stealing their idea. It would be four years later when the resulting lawsuit was finally settled

The social network finally opened it platform to everyone on 26 September, 2006. The move proved the catalyst in supercharging the site's already explosive growth

PA

Yahoo offered $1 billion to buy Facebook in September 2006 but Zuckerberg turned it down. 'I dont know what I could do with the money,' Zuckerberg reportedly said. 'Id just start another social networking site'

Reuters

In September 2009, almost five years since the site launched, Facebook turned a profit for the first time

Getty Images/iStockphoto

Facebook overtook MySpace in 2010 to become the worlds most popular social network

In 2011, Google launched its own social network that it hoped would knock Facebook from its perch. Despite its initial success, Google+ ultimately failed and will be shut down completely in 2019

Getty

On 18 May, 2012, Facebook went public. The initial public offering raised $16 billion the third largest in US history

Facebook acquired Instagram in April 2012 for $1 billion, consolidating its position as the world's leading social network

Reuters

On 4 October, 2012, Zuckerberg announced that Facebook had hit 1 billion users. 'If youre reading this: thank you for giving me and my little team the honour of serving you,' he wrote in a blog post

Getty Images

In February 2014 Facebook acquired the messaging app WhatsApp for $19.3 billion

REUTERS/Dado Ruvic

In June 2017, Facebook passed the 2 billion user milestone

REUTERS/Dado Ruvic

On 17 March 2018, news broke that UK firm Cambridge Analytica had harvested data from around 87 million Facebook users for the purpose of political profiling in the build up to the 2016 US presidential elections

Shutterstock

Despite the scandals and subsequent #DeleteFacebook campaign, Facebook posted record profits just before its 15th anniversary, the equivalent of $7.37 from each of its 2.32 billions users

iStock/Independent

A study found that people are happier when they dont use Facebook, adding to mounting evidence surrounding the impact social media has on mental health

Rex Features

On 4 Feb, 2004, 19-year-old Harvard student Mark Zuckerberg launched a website called 'TheFacebook' from his dorm. Within 24 hours the college social network had more than 1,000 users

Wikimedia Commons

Within one week of launching, fellow Harvard students Cameron Winklevoss, Tyler Winklevoss and Divya Narendra accused Zuckerberg of stealing their idea. It would be four years later when the resulting lawsuit was finally settled

The social network finally opened it platform to everyone on 26 September, 2006. The move proved the catalyst in supercharging the site's already explosive growth

PA

Yahoo offered $1 billion to buy Facebook in September 2006 but Zuckerberg turned it down. 'I dont know what I could do with the money,' Zuckerberg reportedly said. 'Id just start another social networking site'

Reuters

In September 2009, almost five years since the site launched, Facebook turned a profit for the first time

Getty Images/iStockphoto

Facebook overtook MySpace in 2010 to become the worlds most popular social network

In 2011, Google launched its own social network that it hoped would knock Facebook from its perch. Despite its initial success, Google+ ultimately failed and will be shut down completely in 2019

Getty

On 18 May, 2012, Facebook went public. The initial public offering raised $16 billion the third largest in US history

Facebook acquired Instagram in April 2012 for $1 billion, consolidating its position as the world's leading social network

Reuters

On 4 October, 2012, Zuckerberg announced that Facebook had hit 1 billion users. 'If youre reading this: thank you for giving me and my little team the honour of serving you,' he wrote in a blog post

Getty Images

In February 2014 Facebook acquired the messaging app WhatsApp for $19.3 billion

REUTERS/Dado Ruvic

In June 2017, Facebook passed the 2 billion user milestone

REUTERS/Dado Ruvic

On 17 March 2018, news broke that UK firm Cambridge Analytica had harvested data from around 87 million Facebook users for the purpose of political profiling in the build up to the 2016 US presidential elections

Shutterstock

Despite the scandals and subsequent #DeleteFacebook campaign, Facebook posted record profits just before its 15th anniversary, the equivalent of $7.37 from each of its 2.32 billions users

iStock/Independent

A study found that people are happier when they dont use Facebook, adding to mounting evidence surrounding the impact social media has on mental health

Rex Features

Facebook says it will launch Libra at some point in 2020, however it has faced criticism from financial policy makers and regulators since being unveiled earlier this year.

French finance minister Bruno Le Maire said earlier this month that Libras development would be blocked in Europe as itposes a threat to monetary sovereignty.

Politicians in the UK expressed similar concerns earlier this year, claiming Libra represents Facebooks latest attempt to turn itself into its own country.

Through itsCalibra subsidiary, Facebook has teamed up with some of the worlds biggest companies and financial institutions to develop and roll out Libra, including PayPal, Mastercard and Visa.

This collective of billion-dollar corporations, combined with Facebook's vast reach to billions of users around the world, is why regulators view it as such a threat to the established order.

Facebook has consistently claimed that it welcomes feedback from global regulators and will work with them to address any concerns.

A Libra spokesperson recently toldThe Independent: "We welcome this scrutiny and have deliberately designed a long launch runway to have these conversations, educate stakeholders and incorporate their feedback in our design."

Read the rest here:

Facebook reveals which currencies will back Libra cryptocurrency - The Independent

Are Cryptocurrency Transactions about to Hit the Mainstream? – BOSS Magazine

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Reading Time: 4 minutesSectors in which cryptocurrency is being adopted

When the largest ever Bitcoin transaction took place in early September, no sooner had the news of it reached the media than speculation began about who was involved. The single transaction consisting of 94,504 Bitcoins was the equivalent of $1 billion (at its then price) and represented around 0.5 percent of all of the cryptocurrency currently in circulation.

As an aside, its also worth noting that this is only the biggest transaction of its kind when measured in its dollar value. Back in 2011, a transaction of 550,000 Bitcoins was recorded but, at the time, this was only worth around $1.6 million.

While the identities of the parties involved in this latest transaction must remain shrouded in anonymity, it has thrown up some interesting suggestions that cryptocurrencies, or at least the blockchain that facilitates theyuse, may be the way ahead for a number of sectors who need to transfer money quickly and securely.

The benefits of using cryptocurrencies are often overshadowed by the reputation they have for not being totally above-board and legitimate;a reputation that is hardly enhanced byincidents such as thefts from currency exchanges in which the perpetrators are just as hard to locate as the parties in this latest, legitimate, transaction.

But its this combination of anonymity added to the speed at whichtransactions can be made that makes cryptocurrencies a potentially very interesting proposition. So interesting, in fact, that even Facebook is set to launch its own cryptocurrency called Libra.

Facebook has pushed forward the development of #Libra #cryptocurrency and reportedly revealed the percentage breakdown of a basket of global currencies that will underpin Libra. (Source: https://t.co/xHGTNn6tLq) pic.twitter.com/SpyYIgIpdD

DigiFinex Exchange (@DigiFinex) September 24, 2019

So, lets take a look at three particular sectors that could potentially benefit a great deal if they started to make at least some of their transactions via crypto or blockchain tech.

Its certainly no secret that, while initially being extremely skeptical about cryptocurrencies, the banking industry has been quick to see the potential in using blockchain technology not just for currency transfer, but for all kinds of information exchange. Its thought that more than 40 of the worlds leading banks are actively developing blockchain solutions attracted by the lower costs, greater security and increased speeds that they promise to deliver. Another leading financial institution that is known to beembracing blockchain is JP Morgan who have published several research papers on the subject.

Online gaming has been one of the fastest-growing sectors of the last couple of decades and whose revenue is projected to almost double in size from a 2017 figure of $45.8 billion to $94.4 billion by 2024. Its a sector that has been driven by innovation and the embracing of new technology, so theres every reason to suppose that cryptocurrency transactions could become the norm for many of the operators. Already some of the bigger operators offer a huge range of payment options to players, including digital options like PayPal and Neteller. But, particularly for fast-paced games like online roulette and blackjack, the speed of blockchain transactions could be of real benefit for players and hostsalike.

Anyone whos ever bought or sold real estate will agree on one thing; its a process thats slow, complex and often frustrating. Its calling out for something thats going tostreamline the whole process for the buyer and selleralike. Step forward blockchain. This ticks all the boxes, whether its for the quick and secure transfer of legal documents or the paying of funds in a trusted and secure way.

Buying and selling are also processes in which many agents and intermediaries seem to want to take their cut along the way while unfairly providing a slow-moving service. Both are issues that could disappear at a stroke, although the intermediaries in question may not be too happy about it.

However, while all these examples may seem like the ideal candidates for cryptocurrency and blockchain transactions, there are also several considerations. For example, the fluctuating value of the cryptocurrencies will always be a concern until they eventually stabilize. Theres also the question of the dubious reputation the currencies have, but with wider acceptance, this will surely change. Furthermore, the fact that established financial institutions are also coming around to the benefits of blockchain transactions can only help in this respect.

So, expect to see more and more transactions of the kind, although possibly not of this size, that are sure to soon be hitting the headlines. And, before long, you might even be making one yourself.

Go here to see the original:

Are Cryptocurrency Transactions about to Hit the Mainstream? - BOSS Magazine

Best ROI in Home Cryptocurrency Mining with BitHarp – AiThority

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BitHarp Group Limited, an experienced manufacturer of crypto mining hardware, is now a favorite name amongst individuals interested in profitable crypto mining from the comforts of their home. The companys recently launched products Lyre Miner and Harp Miner have initiated a new age in cryptocurrency mining, offering low heat and noise mining hardware that can be placed within limited spaces at home. Users can start earning profits immediately as the pre-configured mining rigs just require plugging in, choosing the preferred coin, and entering the pool data.

The most attractive benefit of Lyre Miner and Harp Miner is the ability of these products to generate quick return on interest for all users. This has been made possible by delivering high hash rate powers that are second to none in the market. Hash rate is a general measure of the processing power of crypto mining rigs. For the miners, a higher hash rate means increased profit-making opportunity and receiving block reward. Moreover, Lyre Miner and Harp Miner support profitability with their low energy consumption.

Read More: Cybercrime Damage Expected to Hit $6 Trillion Mark Annually by 2021

The hash rate powers delivered by Lyre Miner and Harp Miner are mentioned below.

Bitcoin: 335 TH/s (Lyre Miner) & 2000 TH/s (Harp Miner)

Litecoin: 55 GH/s (Lyre Miner) & 300 GH/s (Harp Miner)

Ethereum: 14 GH/s (Lyre Miner) & 75 GH/s (Harp Miner)

Dash: 9 TH/s (Lyre Miner) & 50 TH/s (Harp Miner)

Read More:Bitcoins New Normal Bottom Is $10,000: DeVere CEO

BitHarp is one of the earliest companies in this market to create products that are suitable for casual crypto enthusiasts mining from their home without much knowledge or experience, said Daniel Cox, Engineering Director from BitHarp. Lyre Miner and Harp Miner were designed to make crypto mining easy and affordable for them. It is a great pleasure for us to see many beginners earning profits using BitHarp mining rigs from home.

Read More:Amazon Brings AI Performance to the Cloud with NVIDIA T4 GPUs

Continue reading here:

Best ROI in Home Cryptocurrency Mining with BitHarp - AiThority

Justin Sun seeks Andrew Yangs attention with another cryptocurrency UBI pitch – The Next Web

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Justin Sun, the founder of blockchain platform TRON, and current CEO of BitTorrent, is appearing a little desperate for the attention of US Democratic presidential candidate Andrew Yang.

Sun reinforced his desire to work with Yang to make Universal Basic Income (UBI) a reality during a livestream on Tuesday, just after promising to reschedule his $4.6 million charity lunch with Warren Buffet very soon.

Yangs plans to establish a UBI wererevealed on September 12, when he announced plans to give away $120,000 through the course of the next year as part of a pilot program for this key policy plan.

One day after Yangs announcement, Sun seized on the opportunity to latch onto Yangs popularity by signalling his desire to work with the presidential candidate to help him fulfil his pledge.

The entrepreneur is seemingly looking to position himself as a cryptocurrency luminaire on a mission: becoming the link between the world of digital currencies and institutional investors, but really, its seems to be pure marketing based on latching onto UBI hype.

Suns relentless self-promotion has surely helped him grow his own profile far beyond the digital currency space (for better or worse), but its fast becoming tiring for the rest of us.

Want more Hard Fork?Join usin Amsterdam on October 15-17 to discuss blockchain and cryptocurrency with leading experts.

Published September 26, 2019 10:12 UTC

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Justin Sun seeks Andrew Yangs attention with another cryptocurrency UBI pitch - The Next Web

Algorand cryptocurrency lost 94% of its value in its first three months – Decrypt

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Algorand, the much-hyped project of Silvio Micali, a professor at MIT and a recipient of the Alan Turing Award, promised speed, security, and a new proof-of-stake mechanism.

But since its native token, the ALGO, launched in June, it has dropped like a stone. The coin launched at a high price of $3.28, saw an initial sell-off in the first few days and then slumped over the long term down to just $0.20. Thats a drop of 94 percent. In the last 24 hours alone, ALGO fell 27 percent. So what happened?

Well it largely seem to be bad timing. The crypto markets peaked in June, and then have been on a downhill slide since then. And the pain was exacerbated yesterday when the crypto markets took a sudden turn for the worse.

Its possible that its fundraising method may have had a part to play too. Many cryptocurrencies raised all their funds via ICOs (whether legally or in violation of securities law) resulting in a bunch of people invested in the coin, talking about it on social media, in short, a community.

Instead, Alogrand only raised half of its funds through an ICO that brought in $60 million after a previous funding round delivered $66 million. This may explain why there was very little grassroots movement around the ALGO, and an eerie silence on social media.

Worse, not even an innovative real-world use case could save the day. Earlier this month, real estate platform Assetblock tokenized $60m worth of shares in its hotels on the Algorand blockchain. But the price has fallen 40 percent since then. Is there any hope left for the nascent coin?

Read more from the original source:

Algorand cryptocurrency lost 94% of its value in its first three months - Decrypt

The sad and peculiar case of Satowallets alleged $1M cryptocurrency exit scam – The Next Web

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Nigerian cryptocurrency startup Satowallet has exit-scammed, making off with $1 million of its users money, reports International Business Times.

According to company CEO Samuel Ben, however, the firm isnt responsible for those losses. Instead, he says Telegram scammers tricked users into handing over access to their funds during an extended maintenance period.

Ben also claimed the pesky scammers returned to steal more funds when Satowallet attempted to establish Know-Your-Customer policies earlier this year.

Eventually, he firmly passed the buck to its hosting provider OVH, publishing rather peculiar claims in a blog. Unfortunately for Ben, Satowallets Medium page has been suspended, pending investigation, presumably for suspicious behavior.

A cached version of the post haphazardly reads: We also accused OVH of fraud and trying to steal our wallet servers from us. We reached out to OVH team [sic] again and got a heart breaking news and without any explanations after we accused the of stealing users funds from our server with them [sic].

It continues: At this point they stopped replying our messages and refused to give any further explanations. This was the point that i [sic] had to make a tweet to users that we are having issues that is beyond our control as we could do nothing as developments as it seems like we have been scammed by the server company OVH.

Ben then claimed that lawsuits will be filed against OVH on behalf of Satowallet, and that 70 percent of his staff had resigned as a result of the situation.

It [sic] hard for me to even believe what happened, therefore i [sic] decided to seek merger while our lawyers are working to track down OVH team as they were not responding on any social media or contact, added Ben.

Affected users have been quick to call bullshit on the story via Twitter, pointing out that hosting providers shouldnt have access to the private keys of users, so the cryptocurrencyshould be recoverable if Satowallet was a legitimate operation.

Hard Fork has reached out to Satowallets hosting provider and will update this piece should we receive a reply.

Cryptocurrency exit scams are frustratingly common. You can read up on how to spot one here, and also discover some of the more ludicrous plots of the past, here.

Published September 27, 2019 12:58 UTC

Read more:

The sad and peculiar case of Satowallets alleged $1M cryptocurrency exit scam - The Next Web

Cryptocurrency This Week: Bitcoin Plunges $2K, SC Rejects Amit Bhardwajs Latest Plea And More – Inc42 Media

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London-based crypto startup Skew has closed Seed funding worth $2 Mn led by First Minute Capital

Over 30 French retailers to accept Bitcoin as a means of payment

Bitmain to launch World Digital Mining Map this October

In spite of its very limited legal existence in the Indian market, Bitcoins acceptability across the world has been gradually on the rise. Recently, in France alone, over 30 retails brands are now reportedly accepting Bitcoin for Payments.

According to reports, Global POS, the firm offering the EasyWallet service, will, through a partnership with payment firm, Easy2Play, enable retailers to accept Bitcoin as a means of payment in France

This is an important symbolic step in the evolution of payment methods in France. However, more than a symbol, what we bring to 25,000 outlets is the ability to enter the world of the 3.0 economy safely. Stphane Djiane, CEO, founder-Global POS

Meanwhile, after the US has banned Venezuelas fiat cryptocurrency Petro, its another sanctioned state North Korea which seems to be creating its own cryptocurrency, reported Business Insider. North Koreas new digital currency will be more like Bitcoin or other cryptocurrencies, said Alejandro Cao de Benos, a North Korean official.

Venezuelas central bank is, however, running tests to determine if it could hold cryptocurrencies as reserves. According to a Bloomberg report, Petrleos de Venezuela, S.A. the Venezuelan state-owned oil and natural gas company, is seeking to send Bitcoin and Ethereum to the central bank and have the monetary authority pay the oil companys suppliers with the tokens.

The Dark Knight, Bitcoin, on the other end has plunged to its 4-month lowest. After losing $2K price this week, Bitcoin is currently trading at $8.2K

Lets take a look at leading crypto news of the week!

In connection with the massive GainBitcoin scam, the Supreme Court of India (SC), on September 27, rejected the GainBitcoin founder and key accused in the scam Amit Bhardwajs application seeking to deposit INR 2 Cr instead of INR 10 Cr as directed on April 3, this year.

The SC, while granting bail, also directed Bhardwaj to co-operate with the ongoing investigation. However, yesterday sourced told Inc42 that the Enforcement Directorate (ED), Mumbai investigative officer and representative submitted in the court that despite having served three summons in the last six months.

Following the intimation, the two-judge bench, comprising of Justice Rohinton Fali Nariman and Justice V Ramasubramanian, rejected the application seeking to deposit INR 2 Cr. However, the apex court has extended the submission deadline of INR 10 Cr by three months.

San Francisco-based fintech startup SoFi, known for offering variable and fixed-rate parent, personal, and MBA loans, mortgage refinancing, has now added crypto trading to its SoFi Invest platform.

SoFi Invest claims to be the first platform to offer automated and active investing with stocks, ETFs, and crypto through a single app.

SoFi CEO Anthony Noto said,

Feedback from our members has made it clear that a significant percentage are not only interested in learning more about cryptocurrencies but are also already buying and selling crypto,

London-based, barely a year-old crypto startup, Skew which offers institutional-grade data analytics to the digital asset space has closed Seed funding worth $2 Mn. Led by First Minute Capital, other players like Kleiner Perkins, Kima Ventures and Seed Camp also participated in the round.

With the funding, the startup has announced to launch a data analytics platform called skew Analytics dedicated to the fast-growing crypto derivatives markets.

Chinese major Bitmain has announced plans to launch a platform to connect mining hardware owners with mining farm owners via the World Digital Mining Map (WDMM). To remain price-efficient, owners of mining hardware are regularly on the lookout for locations with the right conditions and power resources for cryptocurrency mining. The WDMM will be the first global resource to connect them with mining farms who have the available power resources to host them for a fee, said the company.

Matthew Wang, Director of Mining Farm of Bitmain commented,

The WDMM will help make cryptocurrency mining more sustainable in the long-run by connecting mining farms and hardware owners in a whole new way. It is part of our commitment to provide miners with on-going support throughout their hardwares lifetime and to support the sectors overall growth.

Read more here:

Cryptocurrency This Week: Bitcoin Plunges $2K, SC Rejects Amit Bhardwajs Latest Plea And More - Inc42 Media

Cryptocurrency Club created to educate students on new form of commerce – Daily Nebraskan

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Sophomore finance majors Evan Thorell, William Turner and Peter Rasmussen connected with each other throughout high school and their freshman year of college because of their mutual interest in cryptocurrency.

Evan Thorell is the president of the Cryptocurrency Club. He said the club has 25 members and meets biweekly on Tuesdays from 5:30 p.m. to 6:30 p.m. Other officers include treasurer and graduate student William Turner, primary programmer Peter Rasmussen and advisor Steve Hegemann, an assistant professor of accountancy. The three students said they founded the club because of their mutual interest in cryptocurrency. More specifically, they all want to educate UNL students about this new and exciting form of commerce.

According to Thorell, a typical meeting of the Cryptocurrency Club starts out with the explanation and discussion of a large topic within cryptocurrency like mining, blockchain or trading techniques. The group also covers current events such as a recent development in France.

Thorell also said there is a Coin of the Week segment during the meetings where students interested in investing in cryptocurrency can learn the differences between scams and legitimate cryptocurrency.

The Cryptocurrency Club is one of a kind, Rasmussen said. The club hopes to inform and teach members the basics of different coins and the technology behind them.

Thorell said he originally became interested in cryptocurrency after joining a club at the University of Arizona, and he decided to carry this interest over to UNL when he transferred.

I realized its potential with tech and innovation, he said. In a way, it is really mimicking the Internet, where it is only being used by criminals and nerds.

Thorell said that the club tries to avoid using difficult vocabulary for new members, but they often have in-depth discussion when questions arise.

Cryptocurrency is very interesting to me because it is an unknown, Thorell said. Its new, different and challenges ideas. If you know the potential in it, you could be the next Amazon.

Turner said he joined the club because he had some previous experience with cryptocurrency and margin trading.

I havent really been involved with clubs in the past, so I was really excited, he said. [Evan] told me the overview of the club, and I agreed with what he wanted to make of it.

Turner also said he sees a lot of potential in the future of cryptocurrency.

It will be very important in the future, he said. In five to ten years, the world will revolve around crypto, or it will be a lot bigger in the eyes of users.

Thorell said he is passionate about cryptocurrency as a future market. Even so, he said he has hopes for the long-term existence of the Cryptocurrency Club and its continuation after he graduates.

If youre joining the club, youre a believer in change ... you want to change something about society, he said. Its a place for motivated people to do something and find other motivated people.

news@dailynebraskan.com

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Cryptocurrency Club created to educate students on new form of commerce - Daily Nebraskan

Fast ROI in Home Cryptocurrency Mining With BitHarp – Business Wire

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WELLINGTON, New Zealand--(BUSINESS WIRE)--BitHarp Group Limited ( http://www.BitHarp.com ), an experienced manufacturer of crypto mining hardware, is now a favorite name amongst individuals interested in profitable crypto mining from the comforts of their home. The companys recently launched products Lyre Miner and Harp Miner have initiated a new age in cryptocurrency mining, offering low heat and noise mining hardware that can be placed within limited spaces at home. Users can start earning profits immediately as the pre-configured mining rigs just require plugging in, choosing the preferred coin, and entering the pool data.

The most attractive benefit of Lyre Miner and Harp Miner is the ability of these products to generate quick return on interest for all users. This has been made possible by delivering high hash rate powers that are second to none in the market. Hash rate is a general measure of the processing power of crypto mining rigs. For the miners, a higher hash rate means increased profit-making opportunity and receiving block reward. Moreover, Lyre Miner and Harp Miner support profitability with their low energy consumption.

The hash rate powers delivered by Lyre Miner and Harp Miner are mentioned below.

Bitcoin: 335 TH/s (Lyre Miner) & 2000 TH/s (Harp Miner)

Litecoin: 55 GH/s (Lyre Miner) & 300 GH/s (Harp Miner)

Ethereum: 14 GH/s (Lyre Miner) & 75 GH/s (Harp Miner)

Dash: 9 TH/s (Lyre Miner) & 50 TH/s (Harp Miner)

BitHarp is one of the earliest companies in this market to create products that are suitable for casual crypto enthusiasts mining from their home without much knowledge or experience," said Daniel Cox, Engineering Director from BitHarp. Lyre Miner and Harp Miner were designed to make crypto mining easy and affordable for them. It is a great pleasure for us to see many beginners earning profits using BitHarp mining rigs from home.

To find out more about Lyre Miner and Harp Miner, please visit https://www.bitharp.com/

About BitHarp: BitHarp is a New Zealand based cryptocurrency manufacturer of the most high-performance and flexible Mining rigs built with the goal of making mining easier and more profitable for investors.

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Fast ROI in Home Cryptocurrency Mining With BitHarp - Business Wire