Video Interview: Carl Dong on Guix and Bitcoin Development

Chaincode Labs engineer Carl Dong is one of the most prolific and promising Bitcoin developers today. In the beginning of his career, he made significant contributions to the 21dotco protocol (which turned into Earn.com). Subsequently, he joined Blockstream and is doing perpetual work on Andrew Poelstra’s Rust Bitcoin implementation. But Dong truly came into his own when he joined Chaincode Labs and started addressing the issues that he identified during his formative years. Most recently, Dong has made extra efforts to make Bitcoin Core development more trustless. His initiative resulted…

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Bitcoin Magazine’s Week in Review: Gradual Improvements

Script, the smart-contract programming language for Bitcoin, has gotten an upgrade. Developers are addressing challenges on the network through local Socratic Seminars. A Bavarian entrepreneur is promoting Bitcoin through a multisport race. And the curious case of the Asian mafia behind the PlusToken racket. Scams The PlusToken Scam This week, we looked into the case of PlusToken, a cryptocurrency Ponzi scheme that reportedly spread across Asia promising mouthwatering returns to investors monthly. The PlusToken scam was rather reminiscent of some of the most popular scams in the cryptocurrency space. But…

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Breaking Up With the Banks: Stories From Bitcoin’s Debanked Community

It’s been nine years since the first bitcoin exchange opened its domain to customers, but some of the world’s largest banks still have problems with their clients sending their money to these trading posts. When bitcoin was in its infancy, exchanges created unexplored financial territory, and many banks were hesitant to approve wire transfers to them. They would often cite concerns about money laundering or other shady activity and either shutter or restrict the associated accounts. Exchanges themselves — along with other cryptocurrency companies — also have a rocky history…

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Poll Finds Chinese Crypto Investors Bullish on BTC

This article was originally published by 8btc and written by Lylian Teng. Over 30 percent of Chinese cryptocurrency investors polled predicted that the bitcoin price will surpass $30,000 over the next 12 months, according to a recent survey conducted by local crypto financing company BabelFinance. The survey, collecting hundreds of valid responses, found that the average Chinese crypto investor is young, well-educated and male, with a high income. It is not a surprise to learn that the biggest crypto evangelists are young men — 76.3 percent of the respondents were…

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Op Ed: Want to Learn About Bitcoin? Try a Local Socratic Seminar

The Bitcoin meetup scene has been a vibrant global community since the early days of Bitcoin’s history. There have been Bitcoin meetups in most major cities on a regular basis for at least five years. While conferences, podcasts and online videos definitely play a significant role in community building, what gets less attention is the potential of meetups to build in-person technical communities in physical locations. Now that Bitcoin effectively has two layers — a relatively stable, mature base layer and a more experimental, nascent second layer — it is…

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Former SEC Cyber Unit Head Joins Coinbase’s Attorneys

Robert A. Cohen, former head of the Cyber Unit at the U.S. Securities and Exchange Commission (SEC), is leaving the agency for private practice, joining a law firm that represents Coinbase and other cryptocurrency firms. According to a report from The Wall Street Journal, Cohen is joining Davis Polk & Wardwell LLP, a corporate law firm, where he will assume a partner position. Given the firm’s extensive fintech clientele, Cohen will doubtlessly lean on the understanding he gained about U.S. cryptocurrency regulation while in his former position.  Cohen resigned the…

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Satoshi Freeathlon Raises Awareness Through Sport

Triathlons are some of the most physically-demanding and spectacular athletic trials. Most of the time, this arduous display of strength and endurance has participants push their limits by swimming, cycling and running for 30 miles or more. But when spending bitcoin and promoting the principles of “A Cypherpunk’s Manifesto” (including human rights, freedom of information, free speech, privacy and transaction freedom) are the fundamental goals, any sporting event becomes a lot more interesting.  Between August 24 and August 28, 2019, seven athletes from three different nations will take on a…

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Major Flooding Disrupts Chinese Hydro Power, Bitcoin Mining

Waves of heavy rainfall in China’s Sichuan province have caused major flooding, significantly affecting bitcoin mining operations that leverage hydroelectric power in the area. The Chinese government acknowledged the rampant flooding in the areas surrounding Sichuan’s various rivers, which has caused several deaths and injuries. State-run media outlet China Daily reported that the infrastructure damage resulting from the floods has had a significant impact on the region’s power grid. Damage to Bitcoin Mining Facilities Chinese cryptocurrency mining pool Poolin provided a stark portrayal of the impact the flooding has had…

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U.S. Secretary of State Wants to Subject Cryptocurrencies to Existing Regulations

United States Secretary of State Mike Pompeo shared his thoughts on bitcoin and cryptocurrencies in general during an appearance on CNBC’s Squawk Box on August 20, 2019. In essence, the career military man and former CIA director wants them treated like anything else in the global financial arena. Connecting Bitcoin to Terrorism “You’re going to think I’m crazy, but I’m going to ask you about Bitcoin,” Squawk Box host Joe Kernen said, connecting the cryptocurrency to terrorism following a comment by Pompeo that “the greatest threat to stabilitity in the…

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As Part of Larger Trends, South Korean Exchange Prixbit Closes

Prixbit, a cryptocurrency exchange based in South Korea, has officially shut down. The closure was shared in a note published on its website. The exchange assured users of a safe transition process for their funds, saying it would return deposits and holdings to customers who register for refunds. As for specific reasons why the exchange is terminating its services, the note points to “negative internal and external influences.” However, a report from BusinessKorea pointed to more specific reasons. “Prixbit, a cryptocurrency exchange which closed its operations as of Aug. 9,…

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