n A Wired opinion piece has argued that trust is not eliminated, but rather displaced, in blockchain systems, from institutions and social conventions onto technologyn
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The False Promise Blockchains Will Revolutionize Real-World Assets
The promises made for blockchain are a pipe dream that is unsubstantiated and misleading, says Farzam Ehsani.
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The Herd and the HODLers Recovering from Cryptos Two-Year False Start
Cryptocurrency industry observer David Nage thinks we’re in the Friendster/Myspace error of blockchain, but that Facebook isn’t too far away.
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US SEC Suspends Securities Trading of Nevada-Based Firm for False Crypto Claims
n The SEC has stopped securities trading in a Nevada-based firm for making false statements that its crypto activities were approved by the commissionn
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Waves Addresses False Rumors, Is Already Headquartered in Switzerland
Waves, a popular open-source blockchain platform that allows users to launch their own custom cryptocurrency tokens, has officially addressed the false rumors and fake news currently being circulated by less reputable sources in regards to the liquidation of the UK-registered Waves legal entity.
Contrary to many unfounded and incorrect reports, the Waves platform is currently not in any danger — quite the opposite, in fact.
According to an official statement on the company’s blog, the Waves Platform remains fully active and any information on the project’s bankruptcy is false. Furthermore, the company has remained truthful and transparent in following the interests of its investors, and any actions currently taking place are “in total compliance with business ethics and all initial agreements.”
Instead of faltering, the project is currently being streamlined to increase Waves’ overall performance.
The UK-registered entity in question was reportedly active during the project’s early stages and was used primarily for the purposes of marketing and promoting the project. Said entity simply no longer fit into Waves’ business model, and is not representative of any internal or financial issues at the company. Explained Waves’ founder, Alexander Ivanov:
Waves UK company was active in the initial stages of the platform development as a purely operational company. It was announced several months ago that we’re setting up our corporate headquarters in Switzerland, as Switzerland is the major hub for blockchain startups in Europe. The official announcement of the board of directors and launch in Switzerland is scheduled for the end of June. We’re in no way discontinuing our activities in other European countries, including those in the UK. Just the contrary, we’re planning to launch our London office in mid-July.
Waves Platform AG already moved its headquarters to the famously cryptocurrency-friendly country of Switzerland in December of last year.
Contrary to many opportunistic reports floating about, Waves simply chose not to renew the UK-registered entity’s registration in the less cryptocurrency-friendly nation. The Waves team explained:
The change of jurisdiction will allow the project to enhance relationships with counterparties and expand to new markets. The official announcement of company’s launch in Switzerland and the names of advisory board members is scheduled for the end of June 2018.
The Waves team has also noted that the failure to renew the UK-registered entity is actually for the benefit of both the platform’s users and investors. The company stated:
Streamlining is a standard procedure in any international company. Waves moving to Swiss jurisdiction is done solely in the interests of our investors and users, it does not pose any potential threat to them.
The post Waves Addresses False Rumors, Is Already Headquartered in Switzerland appeared first on NewsBTC.
No Disney, No PayPal? SEC Charges ICO Founder Over False Statements
The U.S. Securities and Exchange Commission has charged the company behind an initial coin offering (ICO) and its president with securities fraud.
CoinDesk
Bank of England Says Cryptocurrencies Will Fall, With False Claims
Bank of England Governor and consistent critic of cryptocurrency Mark Carney once again called for regulatory oversight of the market in a speech at Bloomberg’s European headquarters in London on Friday.
Carney Calls for More Regulation
Carney who is also head of the Financial Stability Board added his voice to the chorus of those calling for more regulation of Bitcoin and the overall alternative currency market.
Carney cited the extreme volatility of the crypto market and once again referred to the use of bitcoin to buy drugs and other contraband. While in the same speech saying that young investors don’t remember the pain of the 2008 market crash.
The accusation that Bitcoin is or has been used to buy drugs and other contraband has been addressed and dismissed as part of the function of every currency already.
The referencing of the 2008 housing market crash as a reason for more regulation of the crypto market, on the other hand, is the height of hypocrisy.
The 2008 crash was brought on by institutions trading in supposedly regulated commodities. A crash that saw governments bailing out banks and firms that created it but spawned little new regulatory measures and saw almost no prosecution.
Carney told the audience that outlawing or isolating the new forms of currency as China has is not the answer.
“A better path would be to regulate elements of the crypto-asset ecosystem to combat illicit activities, promote market integrity, and protect the safety and soundness of the financial system. Being part of the financial system brings enormous privileges but with them great responsibilities.” He said.
He then went on to endorse the U.S. SEC’s steps to regulate the way cryptocurrency are issued and traded in order to reduce the amount of fraud. To hold cryptocurrency exchanges to the same standards as the institutions that trade securities.
Those would be the same institutions that perpetrated the events leading up to the 2008 financial meltdown by selling fraudulent loans just down wall street from the SEC.
Perhaps Mr. Carney doesn’t remember that Bernie Madoff who ran the biggest Ponzi scheme in history, to the tune of 50 Billion dollars, once sat on the Securities Industry and Financial Markets Association. A regulatory association founded to curb fraudulent practices.
Moving Towards the Future
Carney talked about the future use of the technology behind Bitcoin as it will eventually be used by banking systems. Noting that if centralized banks issued digital currency it may lead to the destabilization of the quality of currency but that the Bank of England remains open to its possibilities.
“For many reasons, the crypto-assets in your digital wallets are unlikely to be the future of money …But that is not meant to dismiss them. Their core technology is already having an impact. Bringing crypto-assets into the regulatory tent could potentially catalyze innovations to serve the public better.” Said Mark Carney
Promoting blockchain technology while dismissing cryptocurrency is becoming a common argument among those against the core principles of decentralized currency. Which sounds a lot like once established banks adapt blockchain to handle centralized currency everything will be fine.
The post Bank of England Says Cryptocurrencies Will Fall, With False Claims appeared first on NewsBTC.
John McAfee apologized to Binance’s crypto-exchange for spreading false rumors about her hacking
In the official Twitter account of John McAfee, a record appeared in which he apologizes to the Binance exchange. McAfee wrote the following: “I would like to apologize to Binance and to CEO Changpeng Zhao for my part in the FUD regarding their outage last week. As a long time cyber security professional, my instincts, […]
The post John McAfee apologized to Binance’s crypto-exchange for spreading false rumors about her hacking appeared first on The Bitcoin News – Leading Bitcoin and Cryptocurrency News since 2012.
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Venezuela Blasts ‘False’ White Paper for Oil-Backed Cryptocurrency
Venezuelan officials have denied claims that the petro token’s white paper has been released, calling such claims “false information.”
CoinDesk
False Start Coinbases GDAX Halts BCH Trading Hours After Starting
n Just hours after it first opened order books for BCH, Coinbases exchange GDAX halts trading, citing significant volatilityn
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