CRYPTOSILV

European banks have allegedly been complicit as corrupt African leaders pilfer the wealth of their economies in the billions of dollars. The Angolan government on Monday arrested the son of ex-president Jose dos Santos for stealing $500 million from the country’s sovereign wealth fund, with the help of a British bank. It is only a few days ago that Nigeria demanded that a bank in Europe returns $100 million laundered by former dictator Sani Abacha. In Liberia, ex-central bank governor Milton Weeks is under investigation for the $104 million that vanished from state coffers. https://news.bitcoin.com/european-banks-complicit-as-corrupt-african-leaders-plunder-their-home-economies/

A few well-known industry companies have come together to form the Blockchain Association, a group focused on educating Washington on the crypto industry in order to expedite the development of regulations. While some may feel that regulating a decentralized industry kind of defeats the purpose, it is an important part of paving the way for mass adoption. However, the industry is growing at a rapid and phenomenal pace while clear regulations seem to be taking quite a while to catch up. Law.com recently reported that some cryptocurrency companies are pushing for speedier resolutions and have formed the Blockchain Association (BA) lobbying group in a bid to do this. These aren’t some new startups, though. Its president is the chief legal officer of Coinbase, Mike Lempres, and the group represents a range of companies including Circle and Protocol Labs. There are eight members in the group, which also includes Kristin Smith, a former senator’s aid and Overstock blockchain lob

Today, cryptocurrency mining operators could benefit from taking out loans while using their mined coins as collateral to cover their expenses and persevere during the current bear market. MINERS CAN’T HODL…OR CAN THEY? Large-scale miners have enormous fixed costs, which they must pay regardless of the price their mined coins are currently worth. Indeed, many mining farms operate on thin margins and a shoestring budget, where expenses like electricity, rent, and other overhead costs must be covered monthly or the operation goes under water. Bitcoin and cryptocurrency mining, in general, is a cutthroat business where even the tiniest of advantages can give your competitors the advantage.  Renewable energ y sources, algorithm optimizations, superior cooling systems, and government subsidies are just some ways certain miners try to edge out the competition. But regardless of whether you’re running  AsicBoost  or not, miners must still pay their monthly expe

Scholars from a number of leading research universities have recently come together to tackle the issue of how blockchain technology and regulatory frameworks can co-exist and promote the adoption of blockchain technology. Abelian, the “Accountable Privacy” initiative, is a collaborative effort between the research institutes of Nanyang Technological University (NTU) of Singapore, Shanghai Jiao Tong University (SJTU) of China, and the University of Wollongong (UoW) of Australia. The development is handled by Hong Kong based blockchain development firm CryptoBLK, which is well-known for its previous development work for HSBC and ING. “When a new technology emerges, there is generally period of grey zones as markets and regulators figure out ways to adapt to each other,” says Professor Huaxiong Wang at Singapore’s Nanyang Technological University. He is joined by three other scholars in cryptography on this project Abelian.   “Today’s financial regulatory framework is built

The longest fiat currency in the world is the British pound. It has been in existence for more than 300 YEARS . I saw an article online talking about it. Not well articulated but draws out the fact that "the pounds sterling has lost 99.5% of its value". This goes to show that for someone who has decided to use the fiat currency as it store of value, it is in for the losing game. The constant devaluation of our currency make it the worst form of store of value. In this generation, savers are losers. You can not save your way to be a millionaire. You have to invest. This is not a Financial Advice!  Do your own research. One of the most liquid investment around is cryptocurrency. Bitcoin which is the oldest and most important of it all is working like Gold. Since inception, bitcoin has performed incredibly well against the US Dollar. As impressive as it sounds, it does not come without some demerits. It is highly volatile. The risk is solely yours i.e. you are resp

Author of the book ‘Mastering Bitcoin’ and noted bitcoin advocate Andreas Antonopoulos believes that a Bitcoin ETF is imminent. However, he insists that the long-term implication of such fund will do more harm than good for the original cryptocurrency. Intermediary Bitcoin ownership Antonopoulos described an exchange traded fund(ETF) as a fund that has a custodian or a manager who creates a financial instrument that can be traded like a stock but in the actual sense of it, it isn’t a stock. So for a Bitcoin ETF, this fund is expected to hold Bitcoin, and then sell shares in the Bitcoin reserve that represent the price of Bitcoin. This system of investment allows people to buy the eventual shares as ‘stocks’ through their regular brokers, and traded on the stock market. Practically, in this case the investors do not hold or own actual Bitcoins. They simply own shares of Bitcoins owned and held by the custodian. So essentially, it only provides opportunities for market prac

Bitcoin bull Tom Lee believes that Ether futures trading may hurt the cryptocurrency but could benefit Bitcoin. If there’s one thing you can say about Fundstrat’s Tom Lee, it’s that he’s very optimistic about Bitcoin. In early July, Lee stood by his prediction that the price of the world’s number one cryptocurrency would hit $25,000 by the end of the year. Since then, he has consistently maintained that market trends show that BTC price will rise throughout the latter half of 2018. Now he’s found an unlikely ally in the potential gains of BTC – Ether futures trading. What Hurts Ether… Lee was recently commenting on Cboe announcing that they were close to launching Ether futures trading. He took the approach that such a circumstance could actually harm the altcoin. The main reason why futures trading could be bad for Ether is that it would allow bears to bet against it, thus having the potential to knock its value down quite a bit. Lee cites how the price of BTC fell dr

Wallet solution Mycrypto has raised $4 million to build a platform allowing users to create new wallets, the full details of which are in this edition of The Daily. Also, the wallet advertised by software guru John McAfee, Bitfi, is removing the ‘unhackable’ claim from its branding, an Islamic crypto exchange applies for a license in Malta, and Eminem’s new album features bitcoin. Mycrypto Raises $4 Million to Create New Wallets Popular ethereum interface Mycrypto has raised $4 million in a funding round led by Polychain Capital. The money will be used to build a platform that allows users to create new wallets as well as buy, sell and trade cryptocurrencies. The news comes after the team recently launched a desktop app with which clients can manage or use their cryptocurrency without online resources or protocols and secure their funds outside an exchange. The platform is non-custodial, does not hold customers’ funds or personal data, and users are in control of thei