PosToken
Oct 02

PoSToken – The First PoS Smart Contract Token

By Etanllah | ERC20 Tokens , Free Coins , PoS

Do you love Proof-of-Stake (Pos) coins but hate having to run a bunch of different wallets? Do you love ERC20 tokens and MyEtherWallet (Mew)? Well then I have the perfect new token for you!

Introducing PoSToken!

Check out the PoSToken Website

What Is PoSToken?

PoSToken is the world’s first Proof-of-Stake smart contract token on Ethereum platform. It’s based on the ERC20 Token Standard and implements all standard methods. As an Ethereum token, PoSToken first implements the Proof-of-Stake mechanism, meaning that holders of PoSToken can earn some extra tokens just by holding PosToken for a period of time, greater than or equal to The Minimum Coin Age.

More importantly they are trying to create a new standard for all future PoS smart contracts. They don’t want to simply launch a PoS token on the Ethereum blockchain and be done with it. They want to improve the future of all ERC20 smart contracts.

Read the BitcoinTalk ANN Thread Here

This Sounds Awesome! But What is Proof-of-Stake?

Proof of Stake (PoS) concept states that a person can mine or validate block transactions according to how many coins he or she holds. So the more PoSToken you hold, the more likely you are to forge or mint new tokens. Typically new tokens are the fees associated with that coin (or in this case – token).

Why Use PoS?

Mining requires a great deal of computing power to run different cryptographic calculations to unlock the computational challenges. The computing power translates into a high amount of electricity and power needed for the proof of work. In 2015, it was estimated that one Bitcoin transaction required the amount of electricity needed to power up 1.57 American households per day. To foot the electricity bill, miners would usually sell their awarded coins for fiat money, which would lead to a downward movement in the price of the cryptocurrency.

The proof of stake (PoS) seeks to address this issue by attributing mining power to the proportion of coins held by a miner. This way, instead of utilizing energy to answer PoW puzzles, a PoS miner is limited to mining a percentage of transactions that is reflective of his or her ownership stake. For instance, a miner who owns 3% of the Bitcoin available can theoretically mine only 3% of the blocks.

How Can I Get My Hands On PoSToken?

There is currently an Airdrop going so you can easily and automaticall get PosToken directly to your Ether Wallet. Just sign up here

If you still want even more tokens be sure to check out their bounties on the ANN thread that I linked to above.

How Much Does PoSToken Cost?

It’s free! As stated above, just simply sign up for the airdrop

They will not being having an ICO, you can only receive tokens through the Aidrop.

 

PoSToken Technical Specifications

Name: PoSToken
Symbol: POS
Decimals: 18
Max Total Supply: 10M
Initial Supply: 1M
Min Coin Age: 3 Days
Max Coin Age: 90 Days
1st Year Interest: 100%
2nd Year Interest: 50%
3rd – 15th Year Interest: 10%

 

 

Jul 26

Free Coins – CoinStarter – ICO Kickstarter On The Waves Platform

By Etanllah | Free Coins

There is a new ICO Kickstarter platform that is launching and for a few more hours you can get their coins for free!

CoinStarter is dropping their reward coins later today which will then be available on the Waves Platform. Get 50 coins (they state $159 value!) when you sign up today.

Once you sign up for your CoinStarter account there’s multiple ways that you can earn some more CoinStarter coins:

Earn CoinStarter tokens by

Referring a new member
Receive 21 tokens ($66.81) when they sign up
Referring a unique visitor
Receive 0.21 tokens ($0.67) at their first visit (after 10 seconds)
Log in to your account daily
Receive 0.43 tokens ($1.37) for each day when you visit your account page
Your referral starts an ICO or a crowdfunding campaign
Receive 50 tokens ($159.06) when their campaign is approved
Your referral invests in an ICO or a crowdfunding campaign
Receive 100 tokens ($318.13) for each invested Bitcoin

Conclusion

Who knows how this entire project will pan out and what the actual value of the coins will be, but anytime you can get free coins, grab them!
Always keep security in mind. Don’t use the same password that you use on any other sites, use a unique one.
1broker review - amazing concept and results
May 15

1Broker.com Review – Impressive Platform with Great Results

By Etanllah | Investing In Bitcoins

Disclaimer: I’ve only been using the service for about a week now, but I really love the concept and the results have been good so far.

What is 1Broker.com?

1Broker is a platform that allows Bitcoin users to participate in real-world markets directly with their Bitcoins. There are no conversions to fiat currencies like U.S. Dollars necessary. We currently offer trading on over 40 selected commodity, stock, index and forex markets.

Essentially you can trade against 40 different markets. Everything from Apple stock to BTC/USD prices.

What if I don’t know anything about trading stocks/forex/etc?

That’s the beauty of this platform…You can copy the trades of successful trades and mimic everything they do. Want to copy more than 1 person? Go for it. You are able to see their profit or loss, which trades they have made and how many other users are copying them.

Once you log into the platform you will be presented with all of the top traders as well as the most discussed trades lately. This is where you can start diving into the traders  that you want to copy.

1broker user screen

Lets click on one of the successful traders (3.14FX) and see more about his profile

1broker 3.14fx user profile

Details provided in a user’s profile:

  • Date registered
  • Profit/Loss this month
  • Rewards Earned
  • Number of copiers
  • Trades the last 7 days and 12 months

Next, if we click on Trades we can see all of the trades this user has performed.

1broker 3.14fx list of trades

If you want to copy a user you simply click their profile. Then click the Copy button.

Then you just need to select how much you want to invest each trade (0.01 BTC minimum) and the max amount of trades per day.

As trades are copied and added to your account you will receive messages in your 1Broker inbox for each one. Also, any open positions will show up on your main user screen.

My 1Broker.com Results So Far

The first week has gone really well. I only deposited 0.01 BTC to start until I figured out what I was doing. At the beginning of my second week I’m up to 0.016 BTC which is a 60% increase…not too shabby!

Here’s an example of the trades that were copied to my account:

1broker list of trades

My Recommendation

So far I would highly recommend the service. I would probably start with a small deposit to get your feet wet then once you feel comfortable you can ramp up the investments from there. I will update this post in a few weeks showing my results at that point.

Exscudo ICO
Apr 27

New ICO Exscudo Bridges The Gap Between Traditional Economy and Cryptocurrencies

By Etanllah | Exscudo

There’s a new ICO that’s starting to make waves in the crypto world. Exscudo is trying to unite the world of finance with the world of cryptos through their new platform and debit card. They are utilizing all areas of technology to align there goals. They are striving to create an entire financial ecosystem.

There are 7 components to the Exscudo Ecosystem:

Exchange Platform

The digital finance marketplace for beginners and professional traders, financial institutions and institutional investors. The trading system is the engine of liquidity. One of its advantages is the list of transactions in one order list. Another strong feature is the option of trading on margin and simple exchange. Multi Layered architecture, just like with classical trading exchanges for financial and equity markets, which allows a high level of security, flexibility of the systems, as well as opportunities for scaling.
• Fully compliant (complete compliance to the requirements of financial institutions).
• Serious security.
• Ultimate trading experience.

Charts

All data for trades on the cryptocurrency market is located in one place and updates in real time in one place and takes place in real time. For a bird’s eye view of all transactions for traders, our listing server provides and accumulates trading data not just from the Exscudo exchange, but provides listing from other cryptocurrency exchanges.

Trading terminals

Trading terminals with a wide range of tools for professionals that are designed just as usable as on traditional exchanges.The Cross-platform trading terminal supports the following platforms:

  • Web
  • Mobile (iOS, Android)
  • Desktop (Linux, MacOS, Windows)

The terminal delivers with full support of exchange functions, with a wide range of analytical possibilities, with support of different types of orders, online-listings, interactive graphics and technical indicators, trading signals and copies of transaction. The powerful trading system allows traders to realize complicated strategies.

Wallet

The wallet provides a simple method to manage accounts in real time and in any place.
Buy, exchange and send currencies to friends securely and quickly. Pay for goods and services with crypto with the help of NFC.

Cryptocoin Debit Card

The simple connection for the user between the classical financial market and the cryptocurrency market. Simply deposit the cryptocurrency on your account in the Exscudo wallet and the card is ready for use. The card is accepted all over the world, as well as to make online purchases, or in the closest store with minimum commissions.

Messenger

Completely secure decentralized messenger with the function of instant monetary transaction between the participants of the conversation. You can communicate confidentially and safely transfer funds, simply by sending a message to your contact.

Merchant

You can offer your clients one of the fastest, safest, and least expensive payment methods. Having connected your payment using cryptocurrency, you can accept payments for your goods and services without limits – from any point in the world, from any computer or mobile device.

The first line of products (chatwallet) are planned to be launched in Q2 of 2017. You can sign up for notifications on the launch of the app at the Channels site: https://channels.exscudo.com

After that the launch of the full trading terminals are planned for Q1/Q2 of 2018.

Reasons for optimism with Exscudo:

Exscudo is implementing real life improvements. These are one of the few cryptocoins that are more than just a coin. They are offering tangible pieces with their platform, chat, debit card, and merchant solutions.

The ChatWallet which will be out any week now will already provide more value that 99% of available cryptocurrencies:

With Exscudo Channels, people can send and receive messages and money quickly, easily and securely. The app unites the functions of a wallet and a messenger, and each of these two sides has its own features.

In the future, it will be possible to pay with cryptocurrencies from Exscudo Channels wallets even in convenience stores. The money is being converted automatically: if a user pays from a BTC wallet for a good which has a price in USD, the money is converted by the Exscudo Exchange automatically. The app will also integrate with Exscudo bank cards, but this functionality will be released in later updates of the app.

The messenger supports different types of chats. There are private, personal and group chats, as well as public channels. In private chats, users can send and receive money directly in the chat. The user just needs to tap on the special button to make the transfer. Group chats are usual multi-user conversations for friends and colleagues. The admin of the group channel can invite only his or her contacts to the group chat. But the public channels make the difference. These are created for media people and businesses, as they provide for the monetization of the published content. These channels can be browsed openly in the search of the app and are usually devoted to specific topics: new, hobbies or corporate updates.

There is however one area of the Chatwallet that I’m not completely sold on: Valueable Likes

What is a Valuable Like?

The mechanism is easy: if you like a post by another user, you press the ‘like’ button. By doing so, you send this person a little amount of EONs, the cryptocurrency that fuels the Exscudo ecosystem. This is a way of monetization for public channels, but also a means of approval for personal and group chats.

Personally it seems to me that many people are stingy with their money and especially with their new altcoins. I find it hard to believe that people will essentially spend money to “like” something in a chat. I guess time will tell for this feature.

Conclusion

Regardless of your thoughts on the future applications that will be available with Exscudo you can’t ignore the fact that they are doing some different. They are creating software and applications that can help the entire crypto community as a whole.

Do you like Bitcoins? This should interest you. Do you like altcoins? This should interest you. Do you like money? This should interest you.

They have set lofty goals and if they can achieve a good majority of them, it’s tough to imagine this ecosystem won’t be a home run.

When you evaluate new altcoins and companies you have to look at how it can impact the masses. Exscudo can shake up the entire financial sector and make all cryptocurrencies more accessible to everyone in the world.

 

 

You can sign up for the Exscudo ICO now here: http://exscudo.com/ico

 

Dec 21

Bitcoin Value Reaches Three-Year High: What Does This Indicate?

By Etanllah | Bitcoin News , Bitcoin Price

Bitcoin Value Reaches Three-Year High: What Does This Indicate?

Ever since its debut in the late 2000s, Bitcoin currency has increased steadily in value. It remains one of the most promising digital currencies on the market and could transform the marketplace in a variety of ways.

A recent piece of news revealed just how big this potential is when it was shown that Bitcoins passed the $800 mark for the first time in three years.

What Caused This Increase?

There are a variety of reasons that Bitcoin prices skyrocketed. First of all, trading is at an all-time high, particularly after the series of strange events that occurred in Europe and America.

The first was Brexit, in which the United Kingdom left the European Union. This economically-suicidal move drove the pound to historic lows and even impacted the Euro. This sent desperate European traders scrambling for a more stable and cost-efficient investment.

Second was the successful presidential election of Donald Trump. The value of the dollar after this shocking victory was rather wild, first dropping, then rising, and then dropping again. This has made the dollar seem like an uncertain proposition for many businesses.

With the value of the dollar in such a state of turmoil, digital currency like Bitcoins become an attractive option to traders because they don’t depreciate in value nearly as much as traditional national currencies. This steady balance has made Bitcoins a useful investment, causing a high increase in orders.

Another interesting influence was the falling value of Chinese currency. The yuan has been falling again rapidly after it was once the highest value currency on the market. This deprecation has sent the dollar and the pound into their own high increases, resulting in a strange economic situation that bodes well for those who are willing to invest in Bitcoins.

This rapidly increasing value is not just promising for Bitcoin traders, but for people all around the world. Digital currency like Bitcoins could truly transform the landscape if they were allowed to fully prosper. But just how useful are Bitcoins now and how can they continue to help balance the economic marketplace?

The Major Purpose Of Bitcoins

One of the biggest benefits of the Bitcoin is the way that it helps balance investors fear of inflation and uncertainty in various forms of currency. This is why trading in Bitcoins skyrockets during strange times: investors are looking to put their money into a currency that is stabler and more reliable than other currencies with more wiggle room.

However, this is a major benefit to those who don’t invest because it helps balance against potential inflation. As investors turn to Bitcoins instead of other currencies, the value of those currencies is likely to increase.

That’s because fewer people are investing in them and increasing their value every so slightly. As a result, high-value and important currencies, like the dollar and the Euro, can maintain a stabler balance than they would without Bitcoins.

This is one reason why few currencies have had a total collapse after the emergence of Bitcoins. Yes there have been currencies in less developed countries that have suffered, but Bitcoins serve as an important buffer between failure for many currencies. The increasing investment in these currencies is proof of that and it shows just how important Bitcoins could be for global economic security.

Final Thoughts

If the value of the Bitcoin continues to rise, is there any chance that nations could give up their currency and turn totally to Bitcoins? Probably not as the existence of these national currencies helps give Bitcoins their value.

However, in an increasingly internet-based world focused so heavily on online living, there is a chance that more people could turn to these coins in the future. This could have a major impact on the economy and force the hand of the world’s nations.

Bitcoins alternative currency
Dec 19

Bitcoins Getting Tagged As Alternative Currency

By Etanllah | Bitcoin News

The last quarter of 2016 has been great for Bitcoin, with stock market values hovering steadily around $780.08. It’s the third time since February of 2014, when the stock, Bitcoin Price Index (BPI), rose as high as $780.

The highest average price of the stock was back on December 13th, when Bitcoin hit its all time best value of $788.49. Since the stock’s value isn’t moving back and forth; this is very good news for all international trading markets. The sizable increase in the stock has caught the eye of one country in particular.

Venezuela is Switching to Full-time Use of Bitcoin

Due to the economic instability of the Venezuelan Bolivar, the country is now using bitcoin as its full-time currency. Yes, you read it correctly. Venezuelans are using Bitcoin as a standard form of payment, buying and paying for goods and services, no longer considering it as “just” digital currency. This decentralization, follows the increasingly positive upward surge of Bitcoin’s overall performance as a valued commodity.

Venezuela has been struggling with economic woes for awhile now. By switching to Bitcoin full-time, it means that the country can look forward to moving ahead without worrying about the declining Bolivar. The Venezuelan currency is expected to be stripped of all asset value, as the devaluation punctuates a rather steep downward decline. This is how and why Bitcoins are playing a prominent role in the eventual recovery of the Venezuelan inflationary crisis.

Bitcoin could be the answer to overcoming the crippling effects of decentralization. Decentralization just means that the Venezuelan dollar (Bolivar) has lost its value. The country turned to Bitcoins after a failed financial moved by the government there. The Venezuelan government caused the downward spiral when it was decided to removed the highest dollar Bolivar (equivalent to the US hundred dollar bill).

Venezuela is now using Bitcoin for everything from paying weekly salaries to buying goods such as groceries and other shopping items. It should be noted that the Bolivar is still considered the main currency in the country, as Bitcoin hasn’t entirely phased out the use of Venezuelan dollars. However, the demand for Bitcoin is increasing in the domestic market there, as the value is climbing daily and the price is now well over the $200 mark.

The United States Is Keeping An Eye on Bitcoin’s Future

Bitcoin’s popularity is somewhat troubling for the United States. Because, “indirectly” it could mean trouble for the US dollar. No, it isn’t troubling for the US as a super power. As a super power country, the US wields influence and control over certain aspects of unsanctioned, alternative international currencies. For example, in South Africa there’s a small town with its own currency. This currency, the Ora is for “whites only.” The US keeps a watchful eye on alternative currencies.

The “ora” is for political purposes only and surprisingly it’s one of many forms of alternative currency that the US currently monitors. Bitcoins growth is troubling because it could lead others to follow in the footsteps of Venezuela. At this time, Bitcoin is mainly referred to an “online or digital currency.” Venezuela using Bitcoins as standard payment is a bit unorthodox, at the moment. That might be changing soon.

In the US, the Department of Treasury is fearful about Bitcoin’s future. Because in time, alternative currencies could erode the value of the US dollar. Which could open multiple gateways for illegal, international crimes. We’re talking about seeing an increase in terrorist attacks, human trafficking, illegal drugs and money laundering.

Dec 08

China Experiences A 2-Year High In Bitcoin Price

By Etanllah | Bitcoin News

In recent times, the quest for bitcoin in China has been on a steady increase due to the continuous devaluation of the country’s currency – Renminbi, reported Bitcoin Magazine. Just last month, The Wall Street Journal presented a story on increasing rate at which Chinese investors were purchasing bitcoin due to the strong market trend which was easily recognized by the financial press.

As part of efforts to secure safe digital refuge for their funds, many Chinese investors are switching over to bitcoin thereby helping one of the country’s leading exchanges surpass two-year highs. Reaching an average limit of 5497 RMB at 1:56 p.m in China, bitcoin prices made remarkable great leaps. This rapid increase in Bitcoin price which was recorded on December 2 has never been experienced since January 2014.

In view of the current upward price trend, some leading Bitcoin operators, and CEOs in China were contacted by Bitcoin Magazine to take the pulse of the market.

BTCC CEO Bobby Lee revealed that the current price rally with bitcoin presents a really exciting trend. Despite the devaluation of the Yuan, China has been experiencing record trading volumes. According to him, “bitcoin’s price might reach or surpass $1,500 as soon as early 2017 thereby surpassing its 2013 all-time high.”

Lee thinks that the 80 percent price rise in bitcoin experienced this year is not only due to the devaluation of the Chinese currency but may have also been influenced by some major global economic and political upheavals, including the recent introduction of rigorous capital controls in Venezuela, the cancellation of banking notes with larger denomination in India, instability in the banking sector, Trump’s election, and even Brexit.

In comparison with altcoins, he thinks bitcoin has risen to become a safe choice for investors due to its relative stability and improvements in recent times – such as the establishment of SegWit. Lee concluded by saying that even before the next block reward halving in 2020, “bitcoin might even reach $10,000 and several thousands of U.S dollars in the long term.”

Considering how government has been spreading the supply of fiat currencies via some quantitative easing solutions, including fiat currencies, this prediction could be actually true. Since units of inflating currencies are used to measure bitcoin price, the price of the cryptocurrency is sure to go up because, over time, money supply will greatly increase.

But CEO Arthur Hayes, says the People’s Bank of China (PBOC) allowed the CNY to weaken since the Trump election. Also, one of the most relevant channels of capital flight, offshore mergers and acquisitions (M&A) of Beijing was closed during the recent period of devaluation. Now, Chinese companies must seek government approval before acquiring overseas firms.

Hayes who is also the Co-Founder of BitMEX revealed that it is becoming increasingly difficult to escape the weakening CNY especially “for regular comrades” many of whom tried to escape the commodity markets after property became unaffordable along with the crash of the stock market. There has been a fall in the trading volumes of most commodity futures due to increased margin requirements and Beijing’s reluctance on this rampant speculation.

Hayes concluded by saying if there is any market where the Chinese people are good at speculating 24/7, it is Bitcoin. As a hedge against a weakening domestic currency, this is where some wealth can be gainfully converted into bitcoin. No wonder the virtual currency is currently experiencing 2-year highs trade in China.

No doubt the use of bitcoin in many emerging markets, including China is on a rapid increase. Even with the speculative nature of most Chinese users, yet it does not seem to affect the increasing number of actual users in any way. BitKan CEO Leon Liu believes that why many startups are beginning to turn their eyes on bitcoin is due to the recently decreasing blockchain hype. “We are bullish on the bitcoin price, based on the statistics obtained,” said Liu.

hoopla on bitcoin price rise
Nov 28

The Hoopla Over Bitcoin Price Rise

By Etanllah | Bitcoin News

 

Everywhere you turn, you hear people talking about Bitcoin, like they’re on a first name basis. Well, it’s all for a good reason. Bitcoin Price is on the rise. Since November 14th, Bitcoin has ended the trading day, above $700. This volume is close to the all time highs, which were recorded in mid-June, at $781.31. If Bitcoin continues the upward trend, the end of the year could see trading hit an average annual mark higher than $750.

With trading markets, value counts for a great deal because the larger a stock becomes, the higher amount of new money is being poured into it. For Bitcoin price this could very well result in more enthusiasm about the currency overall. Enthusiasm means that new investors will rush to gobble up Bitcoins. Thereby, elevating the value as a percentage exchange rate, which in turn could push Bitcoin value even higher.

Right now, the outside factor that’s helping to push Bitcoin price higher is Chinese capital controls. Chinese capital controls refers to the rate in which a stock increases or decreases in value as a market commodity.

In simpler terms, capital control is the growth rate of the Chinese economy and how effectively it’s managed. So what does this have to do with Bitcoin price? The rate of the Chinese economy grows affects the ability of foreign investors to put money into global stable stock. With Bitcoin phenomenal growth rate, Chinese investors are assuming no risks, meaning they can invest in Bitcoin for the long term. Because Bitcoins do not erode in value.

What does Bitcoin’s price rally mean for investors? This is good news for investors everywhere. Bitcoin is becoming a long term investment option, which gives it clout as a safe haven stock. An example of another long term, safe haven stock is gold. Gold is a commodity that’s always on the top of the list of stocks to buy. Because Gold always increases in value, and now Bitcoin is approaching that same status. Bitcoin is headed towards becoming a valued asset in every country.

As previously stated, Gold is the only other asset that’s in constant global demand. It is considered a year round, safe haven. Meaning the more money you invest in Gold as a traded commodity, the higher the return on the investment (ROI). Bitcoin is quickly approaching that same status as an in-demand publicly traded option.

Bitcoin had to climb beyond the predicted, “slope of Enlightenment,” for its latest value increases. The “slope of Enlightenment,” refers to the newness factor, once all eyes are on a particular currency, because of excitement. Once that initial excitement dies is typically the period when boredom follows. For a brief period, it seemed that Bitcoin was going fall down into that slope. When its prices slacked off slightly to $713.

Then “Black Friday” rolled around and Bitcoin price value started to climb once again. This is due to the fact that Bitcoin was a contender in the Black Friday deals, going toe-to-toe with mainstream discounts. Bitcoin was holding its on vying for precious consumer shopping dollars by competing to match other exclusive discount offers. Bitcoin wallets opened up and with that, the stock’s value began to climb even higher.

Everyone was a winner using digital wallets on Friday. Some of the most popular Bitcoin bargains were shipping discounts that also included a free gift as well. Other deals offered 10% off for anyone using Bitcoin wallets. In addition to discounts and percentages off savings, other retailers provided Bitcoin raffle tickets with purchase.

coinbase logo
Nov 22

IRS Wants To Identify Coinbase Users

By Etanllah | Bitcoin News

IRS Seeking “John Doe” Summons on Coinbase

Last week, paperwork for a “John Doe” summons was filed by the Department of Justice on behalf of the IRS, who is seeking to uncover the identities of Coinbase users in the United States who transferred virtual currency between December 31st, 2013 and December 31st, 2015. Coinbase, the company that is being requested to release this information, is a company that allows its users to buy, sell, send, and receive virtual currencies such as Bitcoin and Ethereum.

A “John Does” summons is an order that, according to an article on the Forbes website, “identifies a person or ascertainable group or class by their activities”. The IRS is using this order to search for Coinbase users that may have failed to report their earnings or have committed tax fraud. They have already found instances of Coinbase users reporting the amount they spent on Bitcoins as tax deductions for technology expenses.

The “John Doe” summons could potentially uncover a great deal of information about a large amount of people. Coinbase says that it has 4.8 million users to date and was considered “the fourth largest exchanger globally of bitcoin into U.S. dollars and the largest exchanger in the U.S. of bitcoin into U.S. dollars” as of December of last year. The order is asking for information such as U.S. addresses, telephone numbers, e-mail accounts, bank accounts, all wallet activity on the Coinbase website.

Coinbase Statement

Coinbase released a statement to its users on its blog, “Our customers may be aware that the U.S. government filed a civil petition yesterday in federal court seeking disclosure of all Coinbase U.S. customers’ records over a three year period. The government has not alleged any wrongdoing on the part of Coinbase and its petition is predicated on sweeping statements that taxpayers may use virtual currency to evade taxes. Although Coinbase’s general practice is to cooperate with properly targeted law enforcement inquiries, we are extremely concerned with the indiscriminate breadth of the government’s request. Our customers’ privacy rights are important to us and our legal team is in the process of examining the government’s petition. In its current form, we will oppose the government’s petition in court. We will continue to keep our customers informed on developments in this matter.”

bitcoin utopia liberland
Nov 17

The President of Bitcoin Utopia Liberland Fights for Recognition

By Etanllah | Bitcoin News

Liberland’s first president Mr. Vit Jedlicka is on his way to create a Utopia in the land, which is between Serbia and Croatia, the land which according to him is unclaimed. He has a plan of having bitcoin as its Currency, and he also says that there will be no gun control and tax pay will not be mandatory. The land that Jedlicka is planning for is a 2.5 square mile marshland, which is uninhabited.

His three friends elected Jedlicka President in the year 2015 after they had planted a flag on the land. He has been working tirelessly since then, one of the big steps that he has made is signing up almost half a million citizens online, he also has a cabinet and ambassadors who are waiting to take up their role once everything is in place.

Crowdfunding and wealthy libertarians have helped Jedlicka in raising funds some of which he has used to print passports for the citizens.

No Occupation, Croatia Says

The land in question initially had its borders in Serbia, the Yugoslav civil war of the 1990s led to the redrawing of the boundaries. The challenge came in when Croatia said that they were not interested in the land considering that taking the land would mean that they have less territory. On the other hand, Serbia was comfortable with the new borders because it would give them more land. At the end of it, all the two countries did not want to take it, and at this point is when Jedlicka said that he is interested in the land and he wants it.

Vit Jedlicka Presses On

Some of the significant efforts made by Jedlicka to establish the new state include but not limited to the following.

• In September this year Jedlicka, Jose Miguel Maschietto, and a BBC reporter went into Liberland all of them posing as tourists.

• He has representatives and ministers who use social media to communicate.

• He has given tenders to architectural companies from all over the world to come up with a plan.

• Jedlicka went to neighboring countries in the year 2014 to build rapport and increase legitimacy on what he said was a diplomatic mission according to CCN.

• He engaged himself in a regional macroeconomic meeting where he explained about his entry and wanted it to be made legal.

• Jedlicka’s conviction was overturned by a Croatian court and instead taken for a retrial in a local one. He had seen danger and thought of giving up the case because if he were fined then, that would prove that an international boundary exists. He was hopeful that the border location would be decided by the court. The court didn’t do that because the case was adjourned.

Problems From Within

Mr. Maschietto who is Liberland’s foreign minister had some hidden agendas and went round with rumors which didn’t sum up. The first issue, which brought problems, was his claims that he had served as a commander in the Italian army and was also involved in peacekeeping in Kosovo.

The BBC reporter who uncovered this also confirmed that Maschietto had also claimed to be an international musician who was widely celebrated; he said that he is a composer and an experienced pianist. He said he had excelled in music and had done interviews to Italian and Czech media. It was confirmed that all this was not true.

When Jedlicka learned about the misconduct and false claims that Maschietto made he was not happy and that lead to the resignation of Mr. Maschietto. Jedlicka’s journey has not been an easy one. He still holds firm that he is the president of Liberland and that Bitcoin is the currency that he will use when everything is in place.