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WhatsApp confirms end-to-end encryption for iCloud-backed … – Geo News, Pakistan

May 14, 2017 | Author: admin

Popular communication app WhatsApp has now introduced end-to-end encryption for iPhone users who have backed up their interactions on iCloud, a move that came softly and swiftly after it did so for Android phones back in 2016.

The messaging app reportedly introduced the security measure in 2016, but only confirmed the move this week, The Independent said on Wednesday.

The latest development makes it even more challenging for government agencies to tap into iPhones and WhatsApp communications.

Governments of various countries have been actively engaged in trying to get access to exchanges made on WhatsApp and it has been a burning issue over the past few months. While Android phones are a whole different case, Apple makes sure to protect its users privacy by going out of the way, often facing the authorities frustration and wrath.

End-to-end encryption entails that messages shared back and forth between a sender and a recipient are scrambled in a way that they become unreadable. Only the people involved in a conversation hold the key to access these locked messages.

Not even WhatsApp can read a conversation, the company mentioned, adding that this is because your messages are secured with a lock, and only the recipient and you have the special key needed to unlock and read them. For added protection, every message you send has its own unique lock and key, the publication reported.

Before this move, iCloud-backed WhatsApp texts were saved in readable form.

Earlier, there was uproar regarding the companys well-built security measures to ensure user privacy when UK Home Secretary Amber Rudd slammed WhatsApps safeguarding techniques following the Westminster terror attack.

It has emerged that the attacker, Khalid Masood, sent a WhatsApp message moments before launching his assault, and Ms Rudd accused the Facebook-owned app of providing terrorists with a place to hide, the media outlet said.

In addition, London-based think-tank Quilliams Nikita Malik commented that communication and social media apps have been utilised by Daesh-inspired terrorists. In a lot of other incidents people have shared material. [] It can act as a sort of a modern suicide note to explain their justification, she told The Independent.

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Bitfinex Now Processing One Time USD Withdrawals – Bitcoin News

May 14, 2017 | Author: admin

Online cryptocurrency exchange Bitfinex announced May 12 they are resuming fiat withdrawals for specific customer profiles in certain jurisdictions.

Read more:Research Paper Suggests Bitcoin Volatility Will Match Fiat in Two Years

They are processing these requests in descending order for customers who intend to withdraw alarge quantity of funds.These withdrawals will beon a one-time basis until more options for the company arise.

The exchange also mentioned they started moving many of their funds outside of Taiwan. Between this action and other channels opening up to the company, Bitfinex noticed the price spread between them and other exchanges begin to narrow. Their press release also said,

As noted in our prior announcement, US correspondent banks continue to block international wires. USD, however, continues to flow domestically in Taiwan and other channels have been slowly ramping up as evidenced by the price spreads narrowing between Bitfinex and other exchanges.

However, the press release stated for time being the company can only process transactions over $50,000 until more channels for transactions become available and viable.

This news comes after several weeks of halted fiat currency withdrawals at Bitfinex, which have caused fear and doubt to spread across the bitcoin ecosystem.Many actors in the crypto-space have compared the price spread engendered by Bitfinexs policies as similar to what happened at Mt. Gox prior to its insolvency and subsequent fall from grace.

Jamie Redman, writing for bitcoin.com, echoed these sentiments: Traders dont feel confident in the market because of the 2013 Mt Gox scandal which shook the bitcoin community to the corePrice spreads began to happen slightly then picked up when Mt Gox suspended USD withdrawals.

Nonetheless, the price spreads are starting to balance out alongwith Bitfinexsannouncement. At the time of writing this, Bitfinex was sitting at $1812, with most other exchanges hovering around the mid to upper $1700 range.

These prices, however, do not mean that there are no bubbles propping up the bitcoin cap or price or artificially incitinga bull market. There could be a market run, but no one can guess whether that is true or not. Most of the time, market trends are impossible to predict. All the variables that influence value and price change regularly and rapidly.

Nonetheless, it appears that Bitfinex is poised to get their exchange running properly. They promised customers they are solvent, and said they merelyencountered legal and technical difficulties. Their mission is still to allow the fluid exchange of currencies across disparate crypto-spaces.

Bitfinex thanked their customers for the dedication and patience they have shown while the company tries to overcome a myriad of hurdles. They said,

We are deeply grateful for the patience and forbearance that our customers and shareholders have shown us as we work to restore normal operations. We apologize for the inconvenience and look forward to resolving these problems in the coming weeks.

What do you think about Bitfinex and these price differences? Let us know in the comments section below.

Images courtesy of Shutterstock and BTC Report app

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Bitcoin’s surge fuels fears of asset bubble – Financial Times

May 14, 2017 | Author: admin

Financial Times
Bitcoin's surge fuels fears of asset bubble
Financial Times
An increase in initial coin offerings (ICOs) unregulated issuances of crypto coins where investors can raise money in bitcoin or other crypto currencies is fuelling the market and drawing attention from lawyers and financial professionals. Many ...
Bitcoin is Pioneer, Pioneers Are Shot in the Back: Jeff Pulver on Ethereum, ICO & MoreCoinTelegraph
The strange mix of reasons why bitcoin has soared to all-time recordsQuartz

all 5 news articles »

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New Bitcoin Governance BIP Causes Twitter Controversy – newsBTC

May 14, 2017 | Author: admin

It appears this BIP in question "clones" the governance layer found in the Decred altcoin.

It looks like we have another social media tussle on our hands right now. Bitcoin developer Luke Dashjr has introduced a new BIP. That is nothing unusual, as there are many improvements to be made where Bitcoin is concerned. However, this particular proposal seemingly uses the governance layer found in the Decred altcoin. An interesting way to go about things, although it raises a lot of eyebrows.

Many people seemingly agree useful altcoin features may find their way to Bitcoin at some point. This is part of the reason why some people feel altcoins have a lot of merit. Bitcoin can use quite a few improvements, that much is evident. If an altcoin comes up with a new feature, it can be modified to become a part of the Bitcoin protocol. However, a recent BIP by Bitcoin developer Luke Dashjr has people up in arms right now.

It appears this BIP in question clones the governance layer found in the Decred altcoin. Interestingly enough, Luke Dashjr feels any correlation with the Decred source code is a mere coincidence. In fact, he claims several developers have been looking at introducing a similar BIP over the past few years. One could also argue how every alternative cryptocurrency in existence right now copies Bitcoin, although that is a different conversation altogether.

Introducing a governance layer in Bitcoin would be quite a significant feat, though. Doing so would require a soft fork of the code, assuming it will ever become a part of Bitcoin. The BIP focuses on a new opcode for the Bitcoin scripting system. As a result, transactions can be constructed which are valid only within blocks signaling for or against arbitrary network upgrades. It is an interesting BIP to keep an eye on, that much is certain.

Some users on Twitter are pointing out the irony of this BIP, though. An earlier tweet by Luke Dashjr mentions how governance is nothing but a threat to Bitcoin. Any attempts to govern Bitcoin are an issue, in his opinion. It is important to note said statement is part of a block size debate taking place on Twitter earlier this year. Rest assured it is not the last we will have heard regarding this BIP and governance in Bitcoin.

Header image courtesy of Shutterstock

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Bitcoin Price Recovering After Testing Support, Awaiting SEC Decision – The Merkle

May 14, 2017 | Author: admin

This weekend has been quite eventful for Bitcoin. After reaching a new all time high of $1800, the price dipped over $200 to a low of $1600. However, the market displayedstrong support at that level and is currently showing signs of recovery.

As SECs second decision date approached by May 15th, the market is showing clear signs of uncertainty. Both the bears and the bulls are pulling the strings in their directions. One concerning sign is the lack of volume during the recovery.

The market RSI has also decreased, signalling a lack of fuel for further momentum. If a few big players decide to exit their positions the market may tumble down to the $1600 support levels once again.

According to the SEC, all documents regarding the appealed bitcoin ETF application must be submitted by May 15th.This does not necessarily mean that the decision will come right away, but there is no reason it shouldnt come soon after.

Two months ago, the SEC released their decision around 5PM, after the stock market closed. Usually the agency release statements after hours,to make sure the stock market is closed for the day and cannot be manipulated, but since there are no Bitcoin stocks there is no reason why they wouldnt release a statement earlier. Make sure to vote if you think the Bitcoin Petition for Review will be approved:

On another note, the biggest ransomware attack the world has ever seen has been successfully thwarted by MalwareTech security analysts. The solution was incredibly simple buy the unregistered domain that the malwarewas using for payload propagation.

Furthermore, analysts confirmed that the masterminds behind the worlds biggest ransomware attack have made an embarrassingly small amount of money only $26,000. The viral nature and the quick shut down of the attack has shedmore light on Bitcoin, which undoubtedly contributed to the positive market pressure.

Dislaimer: This is not trading advice, this article is for educational purposes only. If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.

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Bitcoin Price Weekly Analysis BTC/USD Eyeing $2000 – newsBTC

May 14, 2017 | Author: admin

Bitcoin price surged higher above $1800 against the US Dollar, and the current movement in BTC/USD looks very bullish for more gains in the near term.

Bitcoin price surged higher above $1800 against the US Dollar, and the current movement in BTC/USD looks very bullish for more gains in the near term.

It was a nasty week for Bitcoin price, as it continued to gain momentum above $1700 against the US Dollar. My view of continuing gains in BTC is playing well. Recently, the price traded close to the $1910 level from where a correction was initiated. The price traded below the 23.6% Fib retracement level of the last wave from the $1510 low to $1905 high.

On the downside, a monster bullish trend line with support at $1660 on the 4-hours chart of BTC/USD was waiting. It acted as a barrier for further declines below $1650 and pushed the price back higher. There was also a test of the 61.8% Fib retracement level of the last wave from the $1510 low to $1905 high. The price is now back above the $1800 level. It looks like a correction wave is over, and the price may soon retest the last swing high at $1905.

If all goes well, there is a chance of further gains above $1900. On the downside, we have two bullish trend lines at $1660 and $1610, which may continue to act as a support. The overall trend is bullish with a chance of BTC/USD testing $2000.

Looking at the technical indicators:

4-hours MACD The MACD is currently gaining momentum in the bullish zone.

4-hours RSI (Relative Strength Index) The RSI is now back above the 50 level and heading north.

Major Support Level $1660

Major Resistance Level $1900

Charts courtesy SimpleFX

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What is a Pegged Cryptocurrency? – The Merkle

May 14, 2017 | Author: admin

Cryptocurrency enthusiasts are always at the mercy of price volatility. This is especially true for altcoins right now, although Bitcoin is also going through some violent swings of its own. Some projects have even tried to create a pegged cryptocurrency, although efforts have been mostly unsuccessful as well. There is a good reason as to why that is, though.

As the name somewhat suggests, a pegged cryptocurrency indicates a coin, token, or asset issued on a blockchain that is linked to a specific value of a bank-issued currency. In most cases, these coins would be pegged to the US Dollar, as it is the one currency that dominates the entire financial sector. Tether has made some waves in this regard, as their USDT token is pegged to US$1 at all times.

It is vital to understand one cannot simply claim a coin or token is linked to the value of 1 US Dollar without enforcing this fact, though. To be more specific, the cryptocurrency project owners will need to have the specific amount of US Dollars in reserves at all times to guarantee the pegged value of their cryptocurrency. This becomes even more important when said cryptocurrency can be openly traded across multiple exchanges.

Holding vast amounts of US Dollars in reserve is one of the major challenges for pegged cryptocurrencies, though. There are ways to achieve this goal, either through investors or fundraising. The teams collect x amount of money and issue their number of tokens accordingly. However, this also means there will be no profit to be gained from buying or selling the currency since it will always have the same fiat currency value.

Even if the project would successfully maintain its 1:1 peg to the US Dollar for an extended period of time, they would face a new problem. Regulators do not take kindly to companies looking to link the value of a central bank-issued currency to something created out of thin air. It is safe to say one would need some specific paperwork and potentially even licenses in most countries to provide such a service. Additionally, the company needs to keep a public record of their assets at all times to ensure they have adequate reserves.

More importantly, there needs to be a decent enough demand for the pegged cryptocurrency to make it a worthwhile venture. This has been the downfall for quite a few projects attempting to guarantee such a service. Ziftr, for example, never gained much traction, despite their coins pegged to US$1. If the supply is greater than the demand, one would need very deep pockets to keep offering this service. Unfortunately, the money will dry up sooner or later in that case.

Even successful projects such as Tether run into problems of their own. Due to issues with their partner bank, they are unable to convert the pegged currency back to US Dollars for now. There are exchanges who provide a USDT/USD trading pair, yet the premium to convert back to USD is quite steep. All of this shows creating a pegged cryptocurrency is not evident by any means, and there will always be risks associated with doing so.

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Will Palestinians Consider Cryptocurrency as a De-Facto Currency? – newsBTC

May 14, 2017 | Author: admin

The Palestinian Monetary Authority is considering the possibility of introducing its own cryptocurrency in the next few years. Read more...

Bitcoin has already proven its potential to act as a universal currency, overcoming geographical, cultural and political differences. The cryptocurrency has been a savior to many in suffering economies, throwing them the much-needed lifeline in the form of an alternative currency. The recent legalization of Bitcoin in Japan and Russias consideration to assigning a similar status to the digital currency has got another geographical region thinking along the same lines.

According to reports, the Palestinian officials are planning to create their own digital currency in the next five years to establish an autonomous financial system. The new cryptocurrency based system is expected to reduce the regions dependence on its neighbor Israel while safeguarding itself against potential external interferences.

Currently, people in the region do not have their own legal tender, and most of the transactions happen either in euro, US dollar, Israeli shekel and Jordanian dinars. With the new digital currency, the Palestinian state will be able to conduct transactions with its own legal tender. The Palestine Monetary Authority already has a name for it, and they intend to call it Palestinian pound.

The decision was made public by the Head of Palestinian Monetary Authority, Azzam Shawwa while participating in the annual meeting of European Bank for Reconstruction and Development held in Cyprus. The ease of creating a digital currency, compared to printing banknotes may make this project successful in the conflict-ridden region. However, there are concerns about the 1994 Paris Protocol Agreement which has effectively revoked the monetary authoritys power to print its own currency.

Mentioning the monetary authoritys choice of cryptocurrency over conventional banknotes, Shawwa said,

If we print currency, to get it into the country you would always need clearance from the Israelis and that could be an obstacle, so that is why we dont want to go into it.

As the state continues to build the necessary infrastructure to rebuild its financial system, the Palestinian pound is not going to make an appearance anytime soon. It may take almost five years before the first Palestinian pound transaction can take place. But it is a good start nevertheless.

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Launching Today: Liberalcoins.com the First One-Stop-Shop for Cryptocurrency Trading – newsBTC

May 14, 2017 | Author: admin

The next generation of cryptocurrency trading has arrived: Liberalcoins.com is the first local cryptocurrency exchange that offers Bitcoin and Altcoin trading for cash as well as inter-cryptocurrency trading all under one roof. The new user-friendly platform charges the lowest fees in the market and offers unrivalled security features. Free registration is now open.

Liberalcoins is the brainchild of entrepreneur Simon Lange, 26, who addresses the need for more flexibility, privacy and safety in the cryptocurrency exchange market. After two years of development his international one-stop-shop for crypto trading launches today (13/5/2017).

With its secure, intuitive and easy interface, Liberalcoins is perfect for newbies who want to start their crypto portfolio as well as for experienced traders. Users can find local traders via the platform and arrange to meet face to face for cash for Bitcoin or cash for Altcoin exchanges. Alternatively, they can choose from a wide array of wire and transfer services.

Bitcoin/cash trades are charged at 0.5% per completed transaction. This is the lowest fee in the market.

Heres the brilliant thing: The platform aims to unite the diverse cryptocurrency market by also facilitating trades between cryptocurrencies. This will give users the option of easily balancing their cryptocurrency portfolio, and has potential to further drive the demand for Altcoins on the back of the recent surge in Bitcoin prices.

Currently supported are exchanges between Bitcoin, Dash, Monero and Litecoin in any combination, giving traders ultimate flexibility when balancing their portfolio. As Lange puts it, Liberalcoins has the potential to bring the cryptocurrency community closer together to drive towards a common goal a stronger integration of digital currencies into our daily lives.

The company has gone to lengths to offer the best security features on the market: Shortly after launch, users will be able to encrypt access to their assets with a password an industry first.

A built-in escrow system releases the coins after the transaction is completed. Liberalcoins is business validated by Symantec, which also runs daily security checks. Users also benefit from the stringent privacy laws of the Isle of Man and Scandinavia, where servers and email storage are located respectively.

At Liberalcoins we seek to give traders the opportunity to trade and invest in digital currencies minimizing dependence on the global banking system, says Lange. We firmly believe in the future of cryptocurrencies and the security and privacy of our users.

We strongly advocate that the cryptocurrency market remains free from any governmental regulatory and legal intervention. In an economic reality of historically increasing inflation, rising prices and central bank printing of fiat currencies we are part of the evolution of our financial future.

Join Liberalcoins.com today to be a part of the evolution in digital currency trading and become part of the community. To keep up with news and developments that will help traders with their investment decisions, follow Liberalcoins on Facebook, Instagram, Twitter, Steemit and Liberalcoins Blog.

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Top 5 Cryptocurrencies in Japan – The Merkle

May 14, 2017 | Author: admin

It is evident for everyone to see Japan is going crazy about cryptocurrency right now. This is made possible thanks to the new regulations going into effect, which removed the 8% sales tax when buying Bitcoin and other cryptocurrencies. It is also interesting to note several cryptocurrencies are incredibly popular in Japan, whereas others are not that hot. All of the coins listed below are ranked based on their JPY trading volume.

Although this particular cryptocurrency has eluded the vast majority of enthusiasts, MonaCoin is quite popular among JPY traders. It is listed on the Zaif exchange, where it can be traded against Bitcoin as well. MonaCoin was also one of the altcoins successfully activating SegWit before Litecoin did.

The native token of the New Economy Movement has seen its fair share of success in Japan as well. It is a currency maintained by a team of Japanese developers. Moreover, XEM and its NEM blockchain have made quite a name for itself in Japanese circles as well. Definitely a currency to keep an eye on moving forward.

A lot of people will be shocked to learn Ethereum is not all that popular when it comes to buying or selling it in exchange for the Japanese Yen. Then again, these are still the early days for cryptocurrency in the country, and things may continue to shift around for quite some time to come. Ethereum is very popular when traded against bitcoin, though, as is to be expected.

It comes as quite a surprise to a lot of people to learn Ripple or to be more precise, XRP is quite popular among Japanese cryptocurrency enthusiasts. Various exchanges list XRP as one of their trading pairs, and it seems to do quite well overall. In most cases, XRP can be traded against the JPY only

There is one big exception to this trend, though. The Mr. Ripple exchange which is mostly known for buying and selling XRP trades the currency against the JPY, USD, Bitcoin, and Ethereum. Its JPY market is by far the largest on the platform, although the XRP/BTC market is quite popular as well. It is quite interesting to see Japanese exchanges dedicated themselves to one particular currency and even naming the platform after it.

Regardless of where one looks in the world, Bitcoin will always be the most popular traded currency against fiat. Japan is no different in this regard, as all exchanges allow for BTC/JPY trades by the look of things. It is due to this trading pair these platforms are so successful during the initial stages of Japanese cryptocurrency adoption.

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