Antigua and Barbuda Drafts Laws to ‘Implement’ Bitcoin

Antigua and Barbuda Drafts Laws to ‘Implement’ Bitcoin By Kevin Helms Antigua and Barbuda Drafts Laws to 'Implement' Bitcoin Bitcoin Games The government of Antigua and Barbuda is drafting laws “for the implementation of Bitcoin,” according to a local publication. The decision may have been influenced by online gambling mogul Calvin Ayre and even self-proclaimed “Bitcoin creator” Craig Wright. Also read: Craig Wright-associated Nchain Claimed to Be Largest Acquisition in Bitcoin History Drafting Bitcoin Laws Antigua and Barbuda Drafts Laws to 'Implement' Bitcoin EP Chet Greene, Antigua & Barbuda Minister of Trade and Consumer Affairs The Cabinet of the twin-island country Antigua and Barbuda has instructed their Attorney General, Steadroy Benjamin, “to draft laws for the implementation of Bitcoin,” reports the Antigua Observer. Antigua and Barbuda is a Commonwealth nation located in the Caribbean Sea, east of Puerto Rico. The move follows the Cabinet’s meeting with a group connected with the Antigua Leisure and Gaming Association on Wednesday, the publication describes, adding that Bitcoin was discussed as “a new method of transacting the sale of goods and services.” At the post-Cabinet briefing on Thursday, the Minister of Trade and Consumer Affairs, EP Chet Greene said: “Here in Antigua & Barbuda we know we are always very much front and centre of new developments; we are leaders, trendsetters in the Caribbean.” He then explained his country’s interest in Bitcoin: This new currency [bitcoin] is immutable; you can always go and trace transactions, so in the context of allegations of our country being involved in tax havens, it allows for better traceability. Primarily a tourism-driven economy, Antigua and Barbuda has a few casinos on the island as well as a growing Internet gaming industry. Greene also said: “The currency benefits us in Antigua & Barbuda in respect to our Internet gaming sector. It will allow us the satisfaction needed as a jurisdiction in respect to questions that would be asked of us in the global environment,” the Antigua Observer wrote. Craig Wright and Calvin Ayre’s Influence Antigua and Barbuda Drafts Laws to 'Implement' Bitcoin Craig Wright Last June, Reuters reported that the self-proclaimed “Bitcoin creator” Craig Wright had been building a large portfolio of Bitcoin and blockchain patents. Applications for more than 50 patents were filed in Britain through Antigua-registered EITC Holdings Ltd, with plans to apply for about 400 patents in total. Originally known as Ncrypt, EITC Holdings later rebranded as Nchain following its acquisition by Sicav plc. The Antigua Observer’s article erroneously notes that the price of bitcoin “has increased in value several times since it was patented.” Bitcoin is open source and uses the MIT license for free software, therefore it cannot be patented. Antigua and Barbuda Drafts Laws to 'Implement' Bitcoin Calvin Ayre Moreover, a document reviewed by Reuters reveals that, in 2015, Wright “planned to propose to the Antigua government that the island adopt bitcoin as its official currency.” His proposal for Antigua reads: “Bitcoin is not just a currency.[…] It’s a new backbone and commercial foundation for the internet.” Wright also has the backing of Calvin Ayre, a wealthy Canadian entrepreneur who lives in Antigua. Ayre has been indicted in the U.S. on charges of running illegal online gambling operations, which he has denied. He began construction of a $25 million call center in Antigua in October, claiming “it was part of his vision for Bitcoin and online gaming,” Reuters reported and quoted Ayre saying: I see a growing convergence of Bitcoin, online gaming, virtual reality and gamification technologies, and progressive countries like Antigua are poised to take advantage of this convergence by developing a truly global services industry. While the government prepares to draft the laws concerning Bitcoin, Greene is encouraging the public to learn more about the cryptocurrency online, the Antigua Observer reports. William P. Eason MarketHive Entrepreneur/ Contributor http://markethive.com/wlmeas TradeCoinClub – Top 10 Cryptocurrency Trading Platform http://www.jointcc.me/ http://perfectincomes.com

Markets Update: Bitcoin Price Rise Climbs to Uncharted Territory

Markets Update: Bitcoin Price Rise Climbs to Uncharted Territory By Jamie Redman - The price of bitcoin has seen a spontaneous rise during the last week of April as the cryptocurrency’s fiat value has climbed to new highs. Over the course of the afternoon and evening of April 27 bitcoin’s price spiked to an all-time high of US$1360 across global exchanges. Also read: Japanese City Accepts Bitcoin Donations Bitcoin Price Weekly View: April’s All Time Highs Bitcoin markets are currently in an uncharted price territory as the digital asset once again surpassed its all-time high jumping in value 10 percent over the past 24 hours. The price has dipped a touch during the morning of April 28 as the global average on exchanges is roughly $1330 per BTC at press time. Bitcoin’s overall market capitalization is also higher than ever before as it currently captures a market share of $21.3 billion. Trading volume is also substantial as over $500 million worth of BTC has been traded daily over the past three days. Markets Update: Bitcoin Price Rise Climbs to Uncharted Territory The weekly view and technical indicators suggest the bull run is not over but could see a hiccup in the short term. Bitcoin’s 100 Simple Moving Average SMA is still well above the 200 SMA trendline which means the ascending climb upwards may continue over the long term. With the Relative Strength Index (RSI) one can assume that buyers are still playing their cards and may continue to prop the price upwards. However, as we reported in our past three market updates the Stochastic indicator readout shows that sellers could pull the price down at any given time. Furthermore, market data from Bitfinex and traders on the trading forum Trading View show a lot more ‘short’ positions than ‘long’ positions. Markets Update: Bitcoin Price Rise Climbs to Uncharted Territory Trading View trader Nixholas predicts a bull rally ahead for BTC/USD markets. “Three drives now, cup and handle broken. With CNBC and the other major news reporters coming into shill us, $1.5K won’t even be a problem,” explains Nixholas. Cryptocurrency Markets Rise Capturing a $33 Billion Capitalization Markets Update: Bitcoin Price Rise Climbs to Uncharted Territory Overall Cryptocurrency Market Cap: $33,812,543,483 / 24h Vol: $1,085,012,433 / BTC Dominance: 63.1% on April 28, 2017. Overall cryptocurrency markets with altcoins included have also reached an all-time high of $33.6 billion USD at the time of writing. The second largest market capitalization held by Ethereum has skyrocketed to $5.7 billion over the past 24 hours. One ether is roughly $63, and Ethereum markets are trading a daily average of over $300 million in trade volume. The third runner-up Ripple (XRP) has seen a spike, as well, as the price has risen to over 4 cents per XRP. Litecoin (LTC) markets continue to do well, after the network recently locked-in Segregated Witness activation. At the moment LTC is over $14 per token with a $750 million dollar market capitalization. Dash has seen an increase too as the price stayed stable at $70 over the past two weeks. The price per Dash is now $78 per coin seeing a 6 percent price increase over the past 24 hours. The other top ten cryptocurrency contenders are also seeing price rises, probably due to bitcoin’s ascending value. This includes price rises from Ethereum Classic ($4), NEM ($0.04), Monero ($21), Augur ($14), and Maidsafecoin ($0.23). Golem, Zcash, and PIVX are still trying to enter the top ten with 8-15 percent increases this week. Speculators Look Towards the ETF, Japan, and Bitfinex USD Issues, but No One Really Knows Why the Price Is Rising Markets Update: Bitcoin Price Rise Climbs to Uncharted Territory Bitcoin proponents seem happy with the price increase, but some people are skeptical due to seeing considerably higher price spreads between Bitfinex and other USD bitcoin exchanges. Mainstream media is giving bitcoin coverage because of the price spike and are attributing the increase to the SEC reviewing the Coin bitcoin ETF again. Other news outlets say that Japan’s recent bitcoin payment legalization law has also propelled the price upwards as well. Many are unsure of where the boost is coming from, and a lot of the uncertainty is stemming from the $100 difference between Bitfinex and the global average. Bear Scenario: Bitcoin’s fiat value has dipped during the early morning hours of April 28 since reaching its all-time high. A deeper correction could continue leading to prices below the $1300 mark. Order books across popular exchanges show current support looks very healthy in the $1250 per BTC price range. ‘Short’ positions are also starting to increase as the price has reached new territory. Bull Scenario: If bitcoin breaks current resistance the path upwards could easily trend past the $1400 range this week and even towards $1500. Buyers have control over the market and SMA and RSI technical indicators show the price ascent should continue. The current price territory is highly psychological, and there will be many breaks and scalps in between. Intra-range and day traders will likely find price sweet spots over the course of the next week.

Bitfinex Price Spreads Bring Uncertainty to Bitcoin’s Price Rally

Bitfinex Bitcoin Games One week has passed since bitcoin exchange Bitfinex announced issues with banking partners and halted fiat withdrawals for its customers. Since then the price of bitcoin has been rallying upwards reaching new highs across global exchanges. As the price surges, Bitfinex prices have been $100 higher than at other exchanges, making traders worrisome a bubble is forming. Also read: SEC Approves Petition to Review Bitcoin ETF Rejection Bitfinex Price Spread Causing Fear and Uncertainty Bitfinex Price Spreads Bring Uncertainty to Bitcoin's Price Rally Everybody loves a good bull run, but this particular bitcoin price spike is being seen as unusual. The reason being one of the largest cryptocurrency exchanges has halted USD withdrawals and other fiat currencies until further notice. There was no adverse market reaction to the news, and Bitfinex prices began rising higher than every other exchange. At the time of writing the price per BTC on Bitfinex is $1405 but the price on Bitstamp is only $1306. This price spread has provoked fear and uncertainty among traders due to similar instances in the past. Traders don’t feel confident in the market because of the 2013 Mt Gox scandal which shook the bitcoin community to the core. For instance in September of 2013 Forbes columnist Donald Marron wrote an article that is eerily similar the current price spike called “How Bitcoin Spreads Violate a Fundamental Economic Law.” Marron notes that Mt Gox started having some price fluctuations when the exchange had issues with Wells Fargo and Dwolla. Price spreads began to happen slightly then picked up when Mt Gox suspended USD withdrawals. “Spreads briefly normalized until Mt Gox announced that it was suspending U.S. dollar withdrawals,” the author writes. Mt Gox had become a Roach Motel (or, if you prefer, a Hotel California) for U.S. dollars. Traders could check their dollars in, but they couldn’t check them out. ‘A Territory of Greed’ Bitfinex Price Spreads Bring Uncertainty to Bitcoin's Price Rally Bitcoin.com spoke with Petar Zivkovski, COO at Whaleclub, the Hong Kong-based bitcoin trading platform, about the current market price trends. Zivkovski said he’s been getting together with many industry experts and insiders over the past few weeks, and the tone is generally bearish. “I personally believe we are entering a territory of greed when it comes to bitcoin prices,” Zivkovski tells Bitcoin.com. “We’ve seen less than 2% of positions come in the past 24 hours to short BTC/USD on Whaleclub. That means almost nobody out of millions of dollars in volume is betting against the currency.” The reason is simple. Bitfinex is leading BTC/USD price at the moment while other USD exchanges follow. Bitfinex, however, has cut off USD withdrawals, which has worried many of its customers who have only one option left to take their funds off the platform: to buy BTC with their USD, then proceed to withdraw the BTC. This process artificially props up the price, which results in the $100 spread we’re seeing. Withdrawals and Thinning Books The Whaleclub executive says figures show that fifty percent of Bitfinex’s cold wallets have been drained in the past couple of weeks due to customer withdrawals. Bitfinex Price Spreads Bring Uncertainty to Bitcoin's Price Rally “As a result, the books on Bitfinex have become even thinner, particularly on the ask side,” explains Zivkovski. “So when a customer comes in to buy BTC (at market, because of the urgency), they move the price upwards more easily. Which is why we’ve seen a perpetual price rise. This reminds me of the Mt Gox debacle, where price only kept going up, for the same reasons (blocked USD withdrawals).” Bearish Sentiment During All Time Price Highs There hasn’t been any word from Bitfinex since April 20 and traders are wondering what will happen if and when the exchange allows fiat withdrawals. Aside from that particular uncertainty, Zivkovski says insiders are still bearish even with the current spike. The network scaling quagmire has many people worried, especially since nobody has a solution that everyone can agree on, Zivkovski explains. “Once the exchange withdrawal issues get resolved, or a bearish event hits (such as an exchange liquidation), bitcoin’s price is likely to drop aggressively since it’s currently artificially inflated,” Zivkovski adds.

Dual Blockchain Token MobileGo Raises $4.5M First 4 Hours of Crowdsale

Dual Blockchain Token Mobile Go Raises $4.5M First 4 Hours of Crowdsale This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. Mobile Go, a cryptocurrency aiming to bring smart contract technologies to the world of mobile gaming, raised $4.5 million dollars after 4 hours of funding. The coin is backed by an experienced team of game and blockchain developers and will help fund the first crypto-based mobile game store. With an impressive start, the Mobile Go crowd sale raised $4.5 million dollars after 4 hours of its launch. The crowdsale will last four weeks, with different discounts for each week of investments. A minimum of 50% of funds raised will be used to market the GameCredits Mobile Store, where 10% of store profit goes to buying back and burning MobileGo. The remaining 50% of funds raised will be used for building MobileGo technologies, legal fees, team expansion, and gamification of the mobile platform. With these funds the team hopes to popularize the mobile store and create a competitive mobile gaming ecosystem. MobileGo is a dual blockchain cryptocurrency using Waves and Ethereum, aiming to bring smart contract technologies to the world of mobile gaming. These technologies include a virtual item exchange, player run wager tournaments, and player to player wager matchplay. They will exist on the Game Credits Mobile Store, a demo of which was released last week. MobileGo and Game Credits share a symbiotic relationship. GAME is the single coin used for in-game purchases, while MobileGo offers more ways for gamer to interact with their favorite games. Both coins are used for unique purposes and together will maximize user experience and interactivity on the mobile store. When asked why a second token was developed, Sergey Sholom, Game Credits VP of Business Operations and VP of Operations at MobileGo said, “Game Credits has been built to scale with the vast number of payments made in the gaming industry, however, it cannot use smart contracts. Creating MobileGo allows us to use smart contracts to solve several problems in the mobile gaming industry, while also expanding the market potential of the GameCredits Mobile Store. Together the two coins will create a mobile gaming experience where gamers can win money by playing their favorite games.” The GameCredits Mobile Store will greatly affect Mobile Go. As more gamers join the store due to marketing, the mobile platform will begin to have greater profits generated by in-game payments. As stated early, 10% of all profit will then go to buying back MobileGo from investors quarterly. The gamers on the mobile store will also be the target audience of Mobile Go's smart contract technologies, furthering demand for the token. The team behind Game Credits is also running the MobileGo crowdsale. Week one investors can enjoy a 15% discount on all currencies, with an additional 7% discount if they invest with GAME. The Mobile Go crowd sale represents one of the greatest opportunities in the world of cryptocurrency. Not only does the project have an experienced team of game and blockchain developers, but it is also targeting a rapidly growing 50-billion-dollar industry, with a product launching shortly after the crowd sale ends. Gamers using Mobile Go and the Game Credits Store can enjoy the benefits of blockchain technology, without having to understand it. The funds raised will go to acquiring these gamers, bringing mainstream adoption to the MobileGo and GameCredits ecosystem. Virtual currency investors looking for the latest information on the MobileGo can register and join the crowdfund here: https://mobilego.io/ About Game Credits, Inc.: Game Credits delivers blockchain-based products to the gaming industry. Founded in 2016, GameCredits allows game developers to accept the game credits cryptocurrency (GAME) to securely purchase existing in-game items without the inconvenience and cost of traditional banking and payment alternatives. Users can purchase GAME directly inside their own Game Credits wallet for USD, Euro and bitcoin, as well as on major exchanges globally, including Bittrex and Poloniex. William P. Eason MarketHive Entrepreneur/ Contributor

Weekly Round-Up and Cryptocurrency Markets Update Posted by CMO Chris Corey

Techshares Help Enterprises Better to Finance During Blockchain Bitcoin Games This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. If 2015 was the year when many first heard about blockchain, 2016 was the year when many pretended to understand what it was, then 2017 will be the year when many try to apply it. 2016 saw the emergence of several open-source platforms for the financial services industry, several more platforms exist in the proprietary space, and many of these will head into open-source territory in 2017. Their proprietors will come to acknowledge that any chance of long-term success at the protocol level lies in the network effect. Many enterprises also aware that blockchain technology could better help with their busniesses, TechShares decentralization exchange will allow all others to reach their highest potential: money. Money is the lubricant of our economies and its value is in being the most frictionless asset of all. Unregulated cryptocurrencies have outperformed fiat currency in this regard and the financial world has woken up to this. TechShares decentralization exchange will allow other financial instruments such as bonds, equities, derivatives, to be migrated to the same blockchain and permit a plethora of use cases to come to full fruition. We will see the custodians of our fiat currencies, central banks, move closer to harnessing the power of blockchain technology for the benefit of entire economies. William P. Eason MarketHive Entrepreneur/ Contributor

Abra Now Offers Deposits and Withdrawals at 60+ US Financial Institutions

Abra Now Offers Deposits and Withdrawals at 60+ U.S. Financial Institutions Coinsbank Blockchain Cruise bitcoin conference The Bitcoin payments startup Abra has been busy adding to its service offering since Bitcoin.com reported on its progress in January. Abra users in the U.S. and the Philippines can buy bitcoin via their bank account or with cash. The list of supported banks has been growing fast. On Thursday, the company announced that over 60 U.S. banks and credit unions are now supported for both deposits and withdrawals. Also read: Abra to Finally Launch Global Bitcoin Network Next Month 60+ U.S. Financial Institutions Supported Abra Now Offers Deposits and Withdrawals at 60+ U.S. Financial InstitutionsAbra users load money into the company’s smartphone app in two ways; with a bank account or with cash. The company started offering the option to buy bitcoin via bank accounts in early March, but only to users in the U.S. and the Philippines. There is no fee to add, send, or withdraw money from a bank account. Initially, only 17 U.S. banks were supported. However, on Thursday, the company announced the addition of many more U.S. financial institutions, stating that: Our latest update adds support for 46 new US banks and credit unions, bringing the total number of supported US banks and credit unions to 63. “In the U.S., these banks are supported for adding and withdrawing funds held in the Abra app,” the company’s website states. At press time, there are 34 banks and 29 credit unions supported. They include Bank of America, Capital One, Charles Schwab, Chase, Citibank, Commerce Bank, Fidelity, Suntrust, TD Bank, USAA, Union Bank, and Wells Fargo. In the Philippines, adding funds to an Abra account can be done through only three banks: BDO Unibank, BPI, and Unionbank. Withdrawals can be done via most major banks, according to the Abra’s website, including Bank of Commerce, Citibank, HSBC, Metrobank and Union Bank. A full list of supported financial institutions for both the U.S. and the Philippines can be found here. Abra Now Offers Deposits and Withdrawals at 60+ U.S. Financial InstitutionsWhat makes Abra unique, however, is its network of human tellers, which currently supports over 50 currencies globally. While users outside the U.S. and the Philippines will have to use bitcoin to add and withdraw money from the Abra wallet, a teller can give them their local currency. The company is currently working to build out its teller network so that users can cash in and out from anywhere around the globe. At the end of March, the company revealed that there are Abra tellers in over 100 different cities worldwide including over 1,500 locations in the Philippines. Abra users in the Bitcoin community are starting to describe on social media their experiences using the app. Reddit user “Pdubl” mentioned that he has tested out the new features successfully. “ACH transfer was relatively quick compared to Coinbase/Glidera, about 2-3 days,” he recalled and noted the new fee structure as well. He added: The exchange rate seems to be about 1.5% but it’s built into the price. You also pay the BTC transaction fee when you withdraw. ACH Transfer Limits, Rates, Time Abra advertises “No transfer fees. Low exchange rates” on its website. “There’s a $500 daily limit on ACH-based cash loads,” the startup also noted. Once the money is loaded into the Abra app, users can hold, spend and send bitcoin to other Abra users anywhere in the world, as well as receive it in their own local currency. Abra Now Offers Deposits and Withdrawals at 60+ U.S. Financial InstitutionsThe company claims to offer “the least expensive ACH-based option for buying bitcoin today.” At launch, it used Coinbase for bitcoin price conversion but has recently changed to using Tradeblock’s XBX Index. “This will result in a conversion rate that more closely tracks the global average across institutional bitcoin exchanges,” Thursday’s announcement reads. Abra Now Offers Deposits and Withdrawals at 60+ U.S. Financial InstitutionsIn addition, Abra is “running tests to shorten the amount of time it takes to add money via bank deposit from 2-3 business days to 1-2 business days,” the company also revealed on Thursday. “In some cases we may require additional verification to protect the security of our customers’ accounts, which could add more time.” One of Abra’s main goals has always been to jumpstart the mass adoption of Bitcoin. In its recent statements, the company wrote: “Bitcoiners can now send bitcoin to pay people without having to explain Bitcoin.” In addition, “they won’t even know the sender sent them bitcoin. Recipients can then cash out their wallet balance to their bank account in any of our supported countries or find an Abra Teller nearby if they need or prefer to withdraw physical cash.”

Research Shows How Bitcoin Can Be Attacked Via Internet Routing Infrastructure

Research Shows How Bitcoin Can Be Attacked Via Internet Routing Infrastructure Forum Researchers from ETH Zurich and the Hebrew University have found how “internet routing attacks” and “malicious Internet Service Providers (ISPs)” can attack the Bitcoin network. In their research paper entitled “Hijacking Bitcoin: Routing Attacks on Cryptocurrencies”, they describe the attacks as well as countermeasures against them. The paper will be presented at the 2017 IEEE Symposium on security and privacy in May. Also read: Attacks on Data Privacy May Get Scarier in 2017 Internet Routing Attack Vector There are already many known Bitcoin attack vectors such as double spending, the 51% attack, DDoS, eclipsing, and transaction malleability. However, the authors asserted that: One important vector has been left out though: attacking the currency via the Internet routing infrastructure itself. Research Shows How Bitcoin Can Be Attacked Via Internet Routing InfrastructureWhile a Bitcoin node can be run from anywhere on earth, the researchers found that most of them are hosted with a few ISPs. Specifically, they found that 13 ISPs host 30% of the entire Bitcoin network. In addition, 60% of all possible Bitcoin connections cross 3 ISPs. “Together, these two characteristics make it relatively easy for a malicious ISP to intercept a lot of Bitcoin traffic,” they wrote, adding that “any third-party on the forwarding path can eavesdrop, drop, modify, inject, or delay Bitcoin messages such as blocks or transactions.” Two Types of Attacks Warned Research Shows How Bitcoin Can Be Attacked Via Internet Routing InfrastructureThe paper then describes two types of attacks claimed to be practical and possible today. The first is called a “Partition attack” which aims to partition the Bitcoin network or “completely disconnect a set of nodes from the network”. The second is called a “Delay attack” which aims to delay the propagation of new blocks to a set of Bitcoin nodes without disrupting their connections. To determine their effects, the authors set up a network and initiated the attacks on themselves. They performed a hijack in the wild against their own Bitcoin nodes to learn the effect of a Partition attack. For a Delay attack, they used an interception software against their own Bitcoin nodes. They eventually came to the conclusion that: The potential damage to Bitcoin is worrying. By isolating parts of the network or delaying block propagation, attackers can cause a significant amount of mining power to be wasted, leading to revenue losses and enabling a wide range of exploits such as double spending. Possible Countermeasures The paper offers various suggestions to combat the routing attacks of Research Shows How Bitcoin Can Be Attacked Via Internet Routing Infrastructureboth kinds. While nothing is a cure for all attack types, the more countermeasures deployed, the more effective a defense Bitcoin users will have. Both long and short-term countermeasures were suggested. Recommended strategies include increasing the diversity of node connections, selecting Bitcoin peers that are routed further away, monitoring round-trip communication times, and even encrypting all node traffic. The research team also proposes monitoring any other additional statistics so that deviations from normal behaviors can be immediately identified at each node. William P. Eason MarketHive Entrepreneur/ Contributor