Uproar Because Li Xiaolai Leaks Monkey Business Crypto World

Monkey Business World Crypto. Bitcoin billionaire Li Xiaolai discloses the crypto business monkey business. This is known after the leaking of recording talks that reveal many dark secrets of the crypto world. The recording of the 50 minute duration of July 4th was first obtained through the WeChat app. The leaking of the tape is then widely publicized in Chinese electronic media.

Li Xiaolay, previously quite widely known in the community of crypto Asia because has made many sites of bitcoin faucet. In addition Xiaolai is one of the crypto investors, he is also known to have assets worth USD 3.5 billion. In fact, so far, Li Xiaolai has also been heavily involved to promote several crypto projects such as Qtum and several others.

In the recording of the leaked conversation, Li revealed many dark secrets of many crypto projects as well as some large crypto exchanges. Among them are NEO, Ripple, Tron, and some exchanges like Binance, OKCoin.

Li in the tape denounced the Binance crypto market as a "cheater market". In his view, the main reason for Binance's success began when many crypto exchanges in China had to close in September due to a ban. But according to Li only Binance can survive and miraculously survive the ban.

Not only that, Li also revealed the main reason for the split between founder and CEO Binance, Zhao Changpeng, with Xu Mingxing founder of OKCoin. He called the character Zhao Changpeng not good, as well as with Xu who has a dark history. Li Xiaolai's tone of voice on the tape seemed quite fiery. Li even uses a lot of diction "stupid X" 24 times.

Associated with many crypto projects, although he also promotes a large number, Li assumes that most of the crypto and ICO platforms are worthless. In his statement, Li mentioned several such projects as NEO, Ripple, Tron, EOS, Litecoin, and others.

According to Li, some successful ICO projects are not built through a really good concept, but because they are built by creating a pool of followers with a really aggressive and explosive pulse. Li thinks some of today's popular tokens are nothing but scam, worthless.

A crypto project that has value is because the highest value of blockchain is "Consensus". Most ICO projects today, manipulate and wrap it into a hype, nothing more. In fact, according to him, most of the fake crypto project is not supported by anything concrete.

What Li is talking about, seems to be an explanation for other crypto communities in China, because of her well-known figure. This has major implications for many investors in the crypto community to pay more attention to the real conditions.

Despite what Li fired up with the greatest rough tone, there was a reality to be realized. Almost no longer a secret, that the crypto stock is currently built with a foundation full of speculation and manipulation@BPI

INDODAX Exchange - Trade with Zero Fee

INDODAX Exchange Marketplace Platform. INDODAX is a marketplace platform for buying and selling digital assets such as Bitcoin, Ethereum, Ripple and others. Digital Assets can be purchased using Rupiah or Bitcoin. The main feature of this site is to buy bitcoin (digital asset). Meanwhile, the second feature is selling bitcoin. This feature you can use when will sell bitcoin.

Have a trading platform that will serve the digital trading process for 24 hours in one day. This means you can guess the price of bitcoin earlier, so you can make an investment to make a profit.

PT. Bitcoin Indonesia or referred to as INDODAX is one of the largest online companies in Indonesia where people can buy or sell Bitcoin as a digital commodity with Rupiah. INDODAX also provides features where customers can exchange their Bitcoins with other types of digital currencies such as Litecoin, Dogecoin, Riplle, and others.

INDODAX was established in 2013 until now 2018 in Jakarta with the mission of becoming the largest digital currency market in Asia and applying digital currency technology to the best payment solution for the people of Indonesia.

INDODAX now processes almost all bitcoin transactions in Indonesia and also provides automatic stall machines where bitcoin users can buy bitcoins easily without having to go online or log in to their accounts.

With INDODAX's trading volume reaching one billion Rupiah per day and 166,603 registered members on its website, Indodax.com has succeeded in becoming a leader in Southeast Asia in the digital currency business. Until now, the Company is intensively reported in the mass media as an organization that has a mission to disseminate the use of Bitcoin in Indonesia. INDODAX also actively cooperates with many partners both domestic and abroad.

INDODAX is a rebrand movement spearheaded by its CEO, Oscar Darmawan to realign the company's goal to focus on various digital assets rather than just bitcoin.

Address:

Jl. Nakula No.88b, Legian, Kuta, Badung Regency, Bali 80361, Indonesia

Fees:

• Maker (sell/buy pending) 0%

• Taker (sell/buy instant) 0.3%

Withdrawal:

• BitBayar & VIP.Bitcoin.co.id - Free

• Other BTC wallets - 0.0005 BTC

Deposit: Free

Fiat deposit: IDR

Payment Method Accepted: Bank Transfer

Margin Trading: No

Website: INDODAX

Email: admin@bitcoin.co.id

Swiss Exchange, SIX will Launch Own Crypto Exchange

SIX Swiss Exchange will launch its own fully authorized crypto market next year. SIX, is a Swiss stock exchange formerly known as Switzerland SWX Stock Exchange is a Swiss stock exchange located in Zurich. In addition to trading securities such as bonds, derivatives, with SMI as its stock market indices, now SIX will also trade crypto-based currencies.

The SIX Exchange has indeed become the world's first stock exchange to have used the trading system, with the ultimate finalization automation since 1995. The SIX securities market is becoming so powerful because it is managed from an association of 55 other banks.

Reporting from Businessinsider, that last Friday the SIX has announced plans about the launch of its official crypto exchange. Although the crypto price movement has dropped evenly both bitcoins to almost all Altcoin since the beginning of 2018, the SIX remain confident in their plans.

Jos Dijsselhof, CEO of the SIX Stock Exchange, said: "It's pretty clear that what has happened so far about the digital world will continue to exist. This is the beginning of a new era for capital market infrastructure. For us, what has happened to the digital space so far will continue to exist and will determine the future of our industry, "he concluded.

SIX will launch its own cryptic exchange by the name of SIX Digital Exchange. On the new crypto market it will be overseen by Swiss national bank and also FINMA. Reportedly, the launch of crypto stocks will be ready to be launched in the first half of the year ahead.

The new SIX Exchange platform will not only provide crypto-based trading services like Bitcoin and some crypto popules, but also for many other digital assets as well as most ICO tokens.

SIX's head of securities and trading, Thomas Zeeb pays special attention to some real challenges to the world of digital assets. According to him, the digital space currently faces some of its greatest challenges such as regulatory and security guarantees, stability, transparency as well as official accountability.

Some of the main issues above lead to the same implications, namely the low level of trust. Specifically about storing digital assets later on SIX, it will act as an official infrastructure provider to accommodate all integrated and secure blockchain models.

So far, Switzerland has become a region friendly enough to the world of crypto in Europe. The authorities and the relevant authorities in Switzerland are also quite accommodating. There, also provide clear guidance to be able to support new companies engaged in the world of crypto in order to grow@BPI

Laporan Parlemen Eropa Tentang Cryptocurrency Dan Bank Sentral

Cryptocurrency di Parlemen Eropa. Beberapa hari lalu, Parlemen Eropa merilis laporan tentang cryptocurrency dan keterkaitannya dengan tantangan yang harus dihadapi oleh bank sentral. Laporan itu disusun sesuai permintaan dari Komite Parlemen Eropa Urusan Ekonomi dan Moneter.

Dalam laporan yang terdiri dari 33 halaman penuh itu, berisikan tentang analisis mata uang berbasis kripto (cryptocurrency), berkaitan dengan dampaknya terhadap pasar keuangan dan kebijakan moneter, terutama dengan bagaimana peran bank sentral yang seharusnya memonopoli penerbitan uang.

Meski pihak regulator dan juga bank sentral menghadapi dampak yang ditimbulkan, namun mata uang kripto juga menghadapi persoalan yang sama. Dalam laporan itu dituliskan, “Mata uang kripto menghadapi tantangan untuk bisa merebut pasar, dan berupaya untuk bisa mendapat pengakuan pemerintah sebagai alat pembayaran, membangun kepercayaan publik mengenai stabilitasnya, dan mencapai jaringan yang memadai dalam penggunannya. Meski pemerintah dan bank sentral tidak menerima sebagai entitas resmi di masing-masing yurisdiksi, namun masalah pengakuan pasar tetap terbuka, dan ekspansi cepat Bitcoin dan proyek mata uang kripto lain di seluruh dunia menunjukkan hal itu mungkin terjadi. Penerbit mata uang pribadi dan kontemporer mampu memastikan jaringan globalnya secara transparan dalam hal sirkulasi, algoritma yang kredibel saat menciptakan mata uang kripto, dan mekanisme transaksi yang relatif aman, cepat, dan murah.”

Secara keseluruhan, pada laporan parlemen eropa tersebut memang banyak membicarakan tentang kelebihan dan kekurangan mata uang kripto. Dalam laporan tersebut juga memprediksi bahwa mata uang kripto tidak mungkin bisa berkompetisi terhadap kuasa monopoli uang bank sentral dalam waktu dekat.

Meski demikian, mata uang kripto dengan karekteristik khasnya yang berkaitan dengan perkembangan teknologi termasuk dalam hal transparansi jaringan dan potensi transaksi yang lintas batas, mata uang kripto mempunyai peluang survive yang lebih baik. Era digital dianggap mempu mengatasi banyak kekurangan-kekurangan mata uang saat ini.

Sementara itu, berkaitan dengan sikap para pemangku kebijakan, sebagian besar lebih banyak memilih untuk bersikap “wait and see” saja. Di dalam laporan itu, lebih menyarankan untuk sebaiknya mengambil titik tengah antara sikap yang optimis dan suka cita.

Landasan atas hal itu adalah karena dengan karakter mata uang kripto yang bisa ditransaksikan lintas batas negara, maka peraturan yang bisa diselaraskan di seluruh yurisdiksi akan mampu memungut pajak. Penarikan pajak itu dapat disamakan seperti halnya investasi dalam aset keuangan lain@BPI

Binance and SYS Respond to Irregular Trading

Binance and Sys Irregular Trading. Binance’s trading suspension lifted as more details emerge about July 3rd incident. After Binance’s internal risk management system detected irregular trades from a number of API users, on July the 3rd, it temporarily suspended trading, withdrawals and other account functions.

The irregularity came from an issue with Binance's API, which caused exponential volume and market pressure to Syscoin trading. There was a sharp spike in the price of SYS and buy/sell order prices hit remarkable levels.

Sudden jump in value of SYS

Binance has stated that to “protect the safety of our API users” it has taken a number of actions relating to the incident. Primary amongst was a rollback of irregular trades and the removal of all existing API keys — with a request for all Binance API users to recreate their API keys.

In addition, Binance has warned API users to better safeguard their API keys going forward and to use the IP whitelist functionality to ensure keys are only accessible to authorized users.

“No coins were mined outside of the regular mining schedule, and the Syscoin blockchain was not compromised.” — Syscoin co-founder Sébastien DiMichele

For its part, Syscoin co-founder Sébastien DiMichele says there was no breach of the Syscoin network and the incident was purely API related. He says the Syscoin block explorer “indicated that 1.2 billion coins were transferred back and forth on the same block (block #87670), and [it] was not an attack on the network”.

DiMichele adds that “no coins were mined outside of the regular mining schedule, and the Syscoin blockchain was not compromised.”

Syscoin secures its blockchain using ZDAG technology, additionally, it is merge mined with Bitcoin, giving it a boost in hash rate and creating greater security against hackers.

Binance has provided a summation of the incident on its support site. In addition to the noted action relating to API usage, Binance is offering rebates and compensation to users affected by the outage and announced the creation of a Secure Asset Fund for Users (SAFU). Binance says beginning on the 14th of July it “will allocate 10% of all trading fees received into SAFU to offer protection to our users and their funds in extreme cases. This fund will be stored in a separate cold wallet.”@BPI

Bitcoin Gold Introduces Algorithm To Counter ASIC Centralization

Bitcoin Gold Introduces Algorithm. Bitcoin Gold, one of the most prominent Bitcoin forked cryptocurrencies, has just migrated to a new mining algorithm, to ensure that ASIC-resistance is maintained.

Bitcoin Gold Hard Fork At Block 536,200

Bitcoin Gold was founded with the decentralization of mining in mind, adopting algorithms which ASICs cannot mine on. Many critics of ASIC mining machines see these specialized pieces of hardware as a source of centralization, as ASICs can be bought en-masse, putting a copious amount of relatively affordable hash power into the hands of a single entity. 

A group of individuals thought it best to build off of this criticism, forking off the main ASIC-infested Bitcoin blockchain into Bitcoin Gold in October 2017. BTG first enlisted the use of the Equihash algorithm, which was ASIC-resistant at the time. In the nine months since then, new Equihash ASICs have begun to edge out GPU miners, with these specialized machines offering an exponentially higher dollar/hash ratio.

On Tuesday, the Bitcoin Gold team announced that it had successfully implemented a network upgrade by initiating a hard fork on the 536,200 BTG block. The release from the Bitcoin Gold team member, Edward Iskra, noted that the upgrade changed the mining algorithm for BTG. With the algorithm changing from Equihash to an updated version of the aforementioned algorithm, fittingly named Equihash-BTG.

This upgrade is an attempt to keep ASICs away from the network, introducing a layer of ASIC-resistance that should stave off any attempts at centralizing BTG mining. Although successful so far, it is likely that ASIC manufacturers may pick up on the new Equihash-BTG algorithms moving into the future.  

The May BTG 51% Attack

Bitcoin Gold experienced a 51% attack in May, amongst growing fears of similar attacks on other blockchains. The double-spend attack saw $18 million worth of BTG being exploited by the malicious attackers, getting a nice payday from the attack.

According to analysis from the cryptocurrency community and BTG team, the 51% attack was a result of rented hash power, which may have consisted of ASIC miners. The new algorithm ensures that there is no rental market for Equihash-BTG miners, making the upgraded blockchain more secure.

Edward Iskra wrote:

The recent “51%” attacks, which may or may not have involved ASIC miners, were channeled through hashpower rental markets – but with this change in algorithm, there’s no longer a rental market for the algorithm we’re using, and it’s harder to set one up than before. This means more safety.

Additionally, this hard fork also introduces a new difficulty adjustment system, ensuring that the BTG blockchain is responsive to large hash power shifts.

LWMA, the improved difficulty adjustment algorithms, allows for the better stabilization of block times, assuring that a new block gets pushed out approximately every 10 minutes after a hashrate swing. Iskra chalked up this change to the auto-switching method which miners enlist to receive the most mining profits.

The release stated:

Our improved algorithm will help the blockchain adjust more quickly, providing a steadier flow of blocks.

Rising Bitmain Power On New Algorithms

Bitmain is one of the most influential companies in the cryptocurrency space, reportedly generating over $3 billion in profits in 2017 alone. The ASIC manufacturer historically built ASICs for the SHA-256 and Scrypt algorithms, or for Bitcoin and Litecoin respectively. However, Bitmain has recently started creating new ASICs for algorithms that were previously ASIC-resistant, algorithms like Equihash and EthHash. 

These news ASICs have begun to affect Equihash and EthHash blockchains, such as ZCash and Ethereum. GPU miners who contribute hash power to these blockchains have been seeing declining profits, with ASICs easily outperforming graphics card rigs.

Ethereum and ZCash have abstained from forking away from ASICs, leading to an environment where GPU miners have had to bow out of mining pools. This will only help Bitmain hold its monopoly on the cryptocurrency mining industry, which lacks competitors to this ever-growing ASIC giant@BPI

NEO Decentralization Begins with Election of City of Zion Consensus Node

NEO Decentralization Begins. The decentralization of the NEO network has begun with the election of a City of Zion consensus node onto the NEO MainNet. City of Zion is a global, independent group of open source developers, designers and translators formed to support the NEO core and ecosystem.

The City of Zion consensus node has been running smoothly on the NEO TestNet for six months in preparation for election. Several other independent consensus nodes are also running on the TestNet and are planned to be voted in by the end of 2018.

These independent nodes include one hosted by KPN, one of the the largest telecom companies in the Netherlands. KPN announced its intention to host a consensus node at the first NEO meet up in Amsterdam on January 13th. KPN has 6.3 million fixed-line telephone customers; more than 33 million mobile subscribers in the Netherlands, Germany, Belgium, France, and Spain; and provides internet access to 2.1 million customers throughout Western Europe.

Fenbushi Capital is another company currently running a consensus node on the NEO TestNet in line for election. Fenbushi Capital was established in 2015 and was named one of the top 5 blockchain venture capital firms by CB Insights. The VC firm is said to have invested over USD $50 million in blockchain projects, and has Ethereum founder, Vitalik Buterin, as an advisor.

The KPN and Fenbushi Capital consensus nodes have been running on the NEO TestNet since April, 2018.

NEO has taken a methodical approach to decentralization, with founder Da Hongfei often acknowledging NEO’s centralized state. However, the gradual roll out of decentralization has been an intentional strategy, allowing the core development team to perform faster upgrades to the network.

Hongfei commented on this approach during his interview with Tyler Swope on NEOTALK @ DevCon: “We have to be very careful with decentralization of the consensus nodes, because the protocol of NEO is evolving very fast. We need those consensus nodes to act very quickly to upgrade, and if there is a bug or a security issue, we need them to respond very quickly. So we’re doing the decentralisation process slowly, gradually and very carefully.”

City of Zion also published an article in December of 2017 on “coopetition”, which is a philosophy where organizations who would otherwise be competitors cooperate in a shared project. This is an approach taken by many industrial open source and energy consortiums.

The article points out that in traditional Proof-of-Work or Proof-of-Stake networks, through the implementation of economic incentives and a range of second order off-chain interactions, such as access to cheap energy, ASICs or GPUs, on-chain oligopolies can be formed. Bitmain and its early access to ASIC technology is cited as one example of such an occurrence.

As there are no economic rewards for running a NEO consensus node, the onlyincentive is to ensure the integrity of the network. Therefore, it is in the best interest of organizations building and relying upon the NEO blockchain to deploy and maintain healthy nodes.

City of Zion explains: “In line with these ideas, NEO will begin its decentralization by allowing well known commercial projects and communities to run consensus nodes, forming an initial confederation of actors with a strong interest in guaranteeing the security and success of the network. While it might seem counterintuitive, this architecture will be less centralized than many other networks today. Through coopetition, we can ensure that all players are equal in the network by design. Their power won’t depend on how much money they have, or how cheap their electricity may be.”

In today’s announcement by NEO, a timeline of the decentralization process was laid out, beginning with the launch of the TestNet in 2015. The timeline states that NEO plans to open the network for public campaign and election of consensus nodes by 2019. A webpage for monitoring NEO blockchain status and information on consensus node candidates and their votes has been made available at:https://neo.org/consensus

All nominees for consensus nodes will be required to go through an identification process before they are voted in on MainNet, and will need to provide contact availability to ensure that time-critical events can be handled if they arise. Parties that prove that they can maintain outstanding uptime on the NEO TestNet will be eligible to be voted in as a MainNet consensus node by NEO holders@BPI