“Unstoppable Domains” Allows You To Have Uncensorable Websites, Replace Long Crypto Wallet Addresses And More
Tim Draper-backed Unstoppable Domains has launched its new .crypto domain registry on the Ethereum blockchain. “Unstoppable Domains” Allows You To Have Uncensorable Websites, Replace Long Crypto Wallet Addresses And More
The registry allows users to connect any cryptocurrency address to their domain, enabling payments to be made using just the domain name, according to a press release published on Oct. 11.
To make a payment, one only needs to know the blockchain domain. This alleviates the need for copying and pasting unwieldy cryptocurrency wallet addresses. Unstoppable Domains believes that this simplifying of cryptocurrency payments will lead to more widespread adoption.
CEO, Matthew Gould Stated:
“We believe that tribalism in the crypto community is slowing down adoption of the technology. .Crypto is a domain name system meant to be used for any cryptocurrency payment and with any cryptocurrency wallet.”
Multiple Benefits Of A .Crypto Domain
Aside from being used as a payment gateway, blockchain domains hold many benefits over their traditional counterparts.
A website hosted on a blockchain domain is stored by the owner. No third party can store or seize it, and thus, purportedly uncensorable by the authorities. Furthermore, the registry is not governed by or needs approval from the Internet Corporation for Assigned Names and Numbers, also known as ICANN.
As Cointelegraph reported in May, Tim Draper’s VC company Draper Associates was involved in a $4 million funding round for Unstoppable Domains earlier this year.
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Bitcoin Will End the Reign of ‘Dictators and Toll Trolls,’ Says Tim Draper
Billionaire investor Tim Draper has stated that he expects Bitcoin (BTC) — combined with other technologies — to change how governments operate worldwide.
In a Medium post published on Oct. 10, Draper calls Bitcoin “the startup currency” and praises its decentralization and borderless nature, saying he believes that BTC will bring the world together:
“With Bitcoin, and the decentralization that comes with Bitcoin, geographic borders have become less relevant. No longer are we at the mercy of dictators and toll trolls to grow the world economy. […] In the long-term I believe with regard to business and economics, we are, more than ever, one world.”
Bitcoin Will End Tribalism
Draper also accuses those dismissing Bitcoin of clutching to tribalism, and reiterates the belief that “tribalism is dying.” He also compares the attempts to retain power to the roar of a falling king:
“Tribalism is dying. And like the dying roar of the king of the jungle, we are hearing political leaders beat their chests as they try to cling to the power they once wielded when the world was still only tribal.”
Draper also describes the idea of a global health insurance policy — that is more effective and efficient than current offerings — “where the premiums are in bitcoin and the claims are settled to the letter with smart contracts and monitored by artificial intelligence.”
He also explains his vision of a pension that does not depend on the decision of political leaders, but instead “is simply a form of fixed smart contract.” Draper concludes:
“Bitcoin brought with it a few fundamental technologies that can accelerate our transformation from a tribal planet to a global one.”
As Cointelegraph reported on Sept. 30, billionaire technology investor Mark Cuban, on the other hand, said that he would be happier owning bananas rather than Bitcoin.
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Coinbase CEO Brian Armstrong Secures Patent For Sending Bitcoins Via Email
Brian Armstrong, CEO of cryptocurrency exchange Coinbase, has recently secured a patent for sending Bitcoins via email. Initially filed in March 2015, the patent was finally rewarded this week on Tuesday, December 17.Basically, the patent describes a method for cryptocurrency payments by linking the email addresses to their corresponding wallet addresses.
Once the sender makes a request to send crypto payments to an email address, the system automatically sends the desired amount.Note that this system only works provided the sender has the required balance in their wallet. Once the receiver confirms the payment, the system takes only 48 hours for clearance and settlement. Moreover, a secure wallet stores the cryptocurrencies which aren’t in use. Only the email address linked to the wallet
Brian Armstrong, CEO of cryptocurrency exchange Coinbase, has recently secured a patent for sending Bitcoins via email. Initially filed in March 2015, the patent was finally rewarded this week on Tuesday, December 17.
Basically, the patent describes a method for cryptocurrency payments by linking the email addresses to their corresponding wallet addresses. Once the sender makes a request to send crypto payments to an email address, the system automatically sends the desired amount.
Note that this system only works provided the sender has the required balance in their wallet. Once the receiver confirms the payment, the system takes only 48 hours for clearance and settlement. Moreover, a secure wallet stores the cryptocurrencies which aren’t in use. Only the email address linked to the wallet can access it.
Currently, the patent talks about system functionality only for Bitcoin. However, using other public cryptocurrencies for a similar transfer process shouldn’t create many problems. Furthermore, there is no such restriction for the email provider. The email system is likely to have a facility to make in-app Bitcoin trades using fiat currencies linked to the bank account.
Addressing The Security Features
The patent also highlights some of the security features for the new email system. The patent notes that when the sender of Bitcoin clicks the “Finish” button during the checkout, the system creates a wallet-like vault. As a security measure, this system limits the transfer of Bitcoin.
Furthermore, to make the Bitcoin payments more secure, the filing notes that the transaction parties will get two notifications each on linked email addresses and the phone numbers associated with the wallet.
Also, the private keys for the Bitcoin addresses will be split and distributed in order to keep the transactions secure. This will also prevent any sort of exposure to the private keys during the checkout process. The patent states that “User can opt to have private keys stored in locations that are under their control”.
The good thing is that users don’t pay mining fees. However, the system will charge transaction fees for transfer to external wallets. The filing also notes that the system administrator can suspend suspicious accounts using an automated process.
It’s also worth mentioning that Coinbase has also managed to secure two other patents. Their aim is to strengthen security aspects. The patents are related to fraud prevention and risk management which is extremely important when it comes to digital assets.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
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Tim Draper-Backed Startup Launches Blockchain Browser To Avoid Censorship
Unstoppable Domains, a tech firm backed by prominent blockchain supporter Tim Draper, is rolling out a blockchain-based browser set to provide users with access to the decentralized web.
Per a Feb. 18 announcement, Unstoppable Blockchain Browser is designed to simplify access to the decentralized web, also known as web 3.0. This kind of the Internet enables peer-to-peer (P2P) transactions with no involvement of a middleman, reportedly designed to avoid censorship.
Unstoppable Domain’s Another Step Forward
Unstoppable Domains CEO, Matthew Gould, said:
“We believe that a decentralized web is critical for protecting free speech around the world. The Unstoppable Blockchain Browser is the first browser that makes visiting decentralized websites as easy as a traditional .com website. All browsers should embrace the decentralized web.”
As such, the news marks another step in the company’s mission to provide blockchain-powered uncensorable websites, as well as simple payments in major cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and others.
Unstoppable Domains’ websites are stored in a user’s wallet, while the content is stored on the InterPlanetary File System (IPFS) or other decentralized storage networks.
Last October, Unstoppable Domains launched a .crypto domain registry on the Ethereum blockchain. The registry allows users to connect any cryptocurrency address to their domain, enabling payments to be made using just the domain name.
Efforts Toward Web 3.0
The industry has a number of web 3.0 supporters, including Ethereum co-founder Vitalik Buterin, investor Fred Wilson, co-founder of Coinbase Brian Armstrong and the founder of Twitter and payments operator Square Jack Dorsey. Back in December 2019, Dorsey announced a new team dubbed Bluesky to work on decentralized social media standards.
Last October, web browser developer Opera Software AS launched added support for in-browser transactions with Bitcoin and Tron (TRX), which came as part of the company’s grander plan to make the “Web 3.0” easier to access for the average consumer. That followed the company’s initial launch of an in-browser Ether wallet in 2018.
In the meantime, Brave was the first to reimagine using browsers as a tool to foster crypto adoption through its privacy-focused blockchain-based Brave browser. The browser gives Internet users power over their data by blocking tracking services and ads.
Opera Becomes First Major Browser to Integrate .Crypto Domain Extension
Opera now enables users to access decentralized web pages through a partnership with Unstoppable Domains, a tech firm backed by prominent Bitcoin (BTC) advocate Tim Draper.
The collaboration entails Opera’s integration of Unstoppable Domain’s .crypto domain extension, according to an announcement shared with Cointelegraph on March 26. This will allow the browser’s users to surf decentralized websites, as well as make cryptocurrency payments.
No More Middleman
As the announcement further explains, blockchain domains are stored by the owner instead of by registrar firms, and decentralized websites are stored on peer-to-peer networks, not cloud services. This makes it possible to conduct transactions without a middleman, as well as avoid censorship.
Unstoppable Domains told Cointelegraph that the development will affect the speed of the internet connection as, over time, a distributed network is more robust, has far better uptime and will reduce the risk of incidents like DDoS attacks.
What About Countries With Internet Censorship?
Unstoppable Domains noted that, while decentralized domains can help people avoid censorship from the publishing side, they do little to aid viewers in jurisdictions that face censorship, surveillance and de-anonymization issues:
“Just as with the current web, if users are facing those types of issues they would need to use VPNs or a similar tool. Decentralized websites solve a user’s ability to publish — it’s on the publishing side rather than on the viewing side. Right now, you can’t publish using a traditional domain registrar if you’re in a place that is limiting free speech. Whereas, with decentralized website tools, you could. So it’s about the publishing and not the viewing.”
Blockchain-based Browsers Go Mainstream
The development ostensibly marks the first time a mainstream browser has integrated a domain that is not part of the traditional domain name system. Last October, Opera also became the first major browser that allows making payments with Bitcoin (BTC) directly inside the browser.
Meanwhile, Unstoppable Domains has rolled out its own blockchain-based browser to simplify access to the decentralized web. Unstoppable Domains’ websites are stored in a user’s wallet, while the content is stored on the InterPlanetary File System or other decentralized storage networks.
There Are Three Different Ways You Can Start Surfing The Decentralized Web Today:
1. Opera For Android – This is the first time a major browser has supported a domain system (.crypto) that is not part of traditional DNS.
2. Unstoppable Extension – An extension that resolves blockchain domains in Chrome and Brave.
3. Unstoppable Blockchain Browser – A Chromium based browser with a built in IPFS node.
P2P Protocol Aims To Simplify Crypto Wallet Transactions With Domain Names
A new protocol is hoping to make peer-to-peer transactions between various wallets and cryptocurrencies simpler for users.
FIO Protocol, which launched its mainnet chain on March 26, provides users with interoperable domain names instead of alphanumeric blockchain addresses.
An acronym for the “Foundation For Interwallet Operability,” the FIO protocol is live on Trust Wallet and is in the process of integrating with several popular wallet providers — including Bitcoin.com, Edge, Enjin, Coinomi and Atomic.
Rather than integrating directly with blockchains, the project offers a decentralized and open-source “usability layer” that integrates with services from members of its consortium, such as wallet providers and crypto exchanges.
The latter so far include ShapeShift and a number of lesser-known trading platforms.
Does Crypto Need More Simplicity To Drive Adoption?
FIO’s idea is that hard-to-remember, unique blockchain addresses — which come in the form of a string of letters and digits — still present an obstacle for users looking to easily transact multiple cryptocurrencies peer-to-peer.
Alongside its offer of a simplified domain name (user@domain), the protocol is supporting features such as a P2P “request transfer” functionality. The feature is ostensibly private and securely encrypted, and also enables users to include private metadata — such as “money for rent” — to tag their peer-to-peer transactions.
In fall 2019, Binance Labs had led a $5.7 million Series A funding round for Dapix Inc. (the firm behind the initial development of the FIO Protocol) to support the layer’s mainnet launch.
Prior to its mainnet going live last month, the foundation auctioned close to 2,000 FIO domains and over 7,500 FIO addresses, which will be valid for one year after mainnet launch. These domains and addresses are structured as non-fungible tokens, meaning that they can be sold and traded using smart contracts if desired.
Hiding The Cryptography Behind Crypto
As previously reported, a number of blockchain projects have launched products that aim to simplify the user experience by removing the need to use alphanumeric wallet addresses.
These include Spanish wallet Easypaysy, the Ethereum Name Service for Ether (ETH) payments, and Bitcoinwallet.com from as early as 2014.
The CEO of Coinbase, Brian Armstrong, has meanwhile patented a system that would enable users to transact Bitcoin (BTC) directly using email.
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Singapore Court Locks Crypto Exchange KuCoin’s Web Domain
Should Have Had An “Unstoppable Domain”
KuCoin.com, the primary web domain of cryptocurrency exchange KuCoin, has been locked since the end of March by order of the High Court of Singapore.
The court issued a temporary injunction on March 24 barring KuCoin from moving its assets, including its website, from the country. A March 30 email from domain registrar GoDaddy provided to Cointelegraph shows that GoDaddy is complying with the court order.
How the exchange will cope with its primary web address locked down is one of many unanswered questions about KuCoin as the company undergoes a major corporate restructuring and faces legal challenges around the globe.
Phantom Investments In KuCoin
Founded in September 2017, KuCoin boasted five million users in 100 countries within a year. Just over twelve months later, on November 14, 2018 KuCoin claimed it had secured $20 million in Round A funding from venture capitalists – IDG Capital, Matrix Partners and Neo Global Capital. But at least one of those investments did not materialize.
At The Time Of The Announcement, KuCoin CEO Michael Gan Stated:
“The combined forces of IDG Capital, Matrix Partners and Neo Global Capital will help KuCoin grow substantially, expand understanding and adoption of cryptocurrency for millions of potential users, and help these users more efficiently find the best products available in the crypto-world no matter where on the planet they may exist.”
IDG Capital boasts notable cryptocurrency companies such as Coinbase and Ripple in its investment portfolio. As of publication of this article, KuCoin appears as a portfolio company on the websites of both IDG Capital and Neo Global Capital, but does not appear on Matrix Partners’ website.
And yet, despite what appears on Neo Global Capital’s website, an individual with knowledge of the matter told Cointelegraph via email that NGC in fact never made any investment in KuCoin. Rather, the firm only gave logistical support to the fledgling exchange.
Representatives of IDG Capital and Matrix Capital did not respond to Cointelegraph’s requests for comment.
Many Questions About Corporate Restructuring
On March 17, 2020, KuCoin issued a press release from Victoria, the capital city of the Seychelles, describing a sweeping corporate restructuring. It announced the establishment of KuGroup, which “consists of three business groups, namely KuCoin Global, KuCloud and the KuChain & KCS Business Group.”
What appears to be a banal corporate announcement actually describes the culmination of far-reaching changes at KuCoin. The corporate restructuring also leaves the ownership and regulatory jurisdiction of the exchange in question at a time when it is facing mounting legal problems, both in Singapore and the United States.
KuCoin’s March 17 announcement came just six days before the U.S.-based law firm Schall announced its investigation into KuCoin and another exchange accused of “false and misleading statements to account holders” in a pending class action. The exchange is also the subject of a separate class action bought by Chase Williams in the Southern District Court of New York regarding the selling of unregistered securities.
Meanwhile, the court order that prevents KuCoin from moving its domain to another provider, and potentially outside the jurisdiction of the Singaporean Court, involves a cybersecurity provider who is suing the cryptocurrency exchange. More details on that story are expected to emerge in the coming days.
On October 14, 2019, just days after arbitration commenced in the lawsuit against KuCoin in Singapore, directors of the Singapore-based entity PhoenixFin Pte Limited — the legal entity behind KuCoin and owner of the KuCoin.com domain — resigned.
There was no public announcement made about these resignations, but records filed with Singapore’s Accounting and Regulatory Authority show that co-founders Michael Gan and Tang Ke, as well as Lian Meng, a representative of financial backers IDG Capital, all resigned as directors of PhoenixFin Pte Limited. None of them responded to interview requests from Cointelegraph.
Just two days later, on October 16, 2019, the KuCoin name and logo trademark was transferred from MEK Global, a Seychelles-based entity that had previously inherited the trademark from PhoenixFin Pte Limited. The trademark ended up with another Seychelles-registered entity, FortuneIcon, which has the exact same physical address as MEK Global.
For at least the past year, KuCoin users were turning to Reddit to understand the company’s corporate structure, lacking clarity from the exchange itself. In the absence of a response from any of the entities or individuals mentioned, it is unclear why this far-reaching corporate restructuring took place or why the company’s trademark was reassigned.
Who Is You?
With the co-founders of KuCoin and PhoenixFin Pte Limited no longer at the company, new directors such as Chinese resident You Au were appointed. On November 20, 2019 the ownership of PhoenixFin Pte Limited was transferred from PhoenixFin Limited, a Cayman-based holding company, to You Au. He had been appointed to the board at the time of the October 14 corporate restructuring, but his prior relationship to KuCoin is unclear. He is not mentioned on the exchange’s website, in any of its marketing material, in the March 17, 2020 press release, or in the 2017 White Paper which described the exchange.
Little is known about You Au, except that he is 28 years old and officially a resident in Mianyang, a city in the Sichuan province of China. Although Johnny Lyu, the CEO of Phoenix Pte Limited, was appointed CEO of KuCoin Global on March 17, the ultimate owner of KuCoin Global seems to be You Au. If he is indeed a Chinese resident, he would be subject to People’s Bank of China regulations that forbid the trading of Bitcoin or other cryptocurrencies, conducting initial coin offerings, and the operation of crypto exchanges.
Neither You Au nor Johnny Lyu responded to Cointelegraph’s requests for comment.
Where On The Planet Is KuCoin?
In 2018 KuCoin responsed to an “empty office” claim regarding a Hong Kong address, asserting that its operational headquarters were in fact in Singapore. The company’s response stated:
“In fact, KuCoin’s public address in Hong Kong is merely a mailing address of one of KuCoin’s many subsidiary companies. KuCoin Headquarters is in Singapore. KuCoin has always been a global firm, with over 300 employees and four major offices in China, the Philippines, Singapore, and Thailand.”
The exchange’s current geographic situation is less clear. On its website, the company profile states it “operates in the Seychelles,” a jurisdiction not mentioned in its 2018 blog post. Unlike Binance, Coinbase and Ripple, KuCoin did not file with the Monetary Authority of Singapore to request a deferral of the requirement to operate without a payments license. Such deferrals allow those companies to operate as payments service providers without a license through July.
Without a license or a deferral, KuCoin cannot legally operate in Singapore. It remains unclear whether KuCoin is nonetheless operating in Singapore or if the exchange is in fact now operating elsewhere.
No Answers, Despite Our Questions
Cynical journalists love the famous quote of Germany’s 19th century “Iron” Chancellor, Otto von Bismarck: “Nothing is confirmed until it is officially denied.” But despite repeated requests to KuCoin, its former directors and its current directors, all have refused to offer any comment for this article.
In the absence of clarity from any of the individuals mentioned in this article, or from the company itself, users of the KuCoin cryptocurrency exchange will likely want answers on whether they are sending their money to Singapore, the Seychelles, China — or anywhere else in the world.
MyEtherWallet Takes ‘.Crypto’ Addresses Mainstream
MyEtherWallet has partnered with Unstoppable Domains to offer decentralized domain names featuring the extension ‘.crypto’.
Popular online Ethereum (ETH) website and app MyEtherWallet has partnered with decentralized domain provider Unstoppable Domains to become the first reseller for ‘.crypto’ domain names.
MyEtherWallet’s million or so monthly users will now be exposed to the blockchain domain names, which are designed to simplify crypto payments with readable addresses.
Rather than using the cumbersome 35 alphanumeric addresses associated with crypto wallets, ‘.crypto’ domain purchasers are able to associate the domain with their cryptocurrency wallet — allowing them to use simple addresses such as ‘yourname.crypto’ when requesting payments.
While not all browsers support the extension, Unstoppable Domains has integrated with Opera Browser and launched a Google Chrome extension.
Brad Kam, Unstoppable Domains’ co-founder, was pleased to have partnered with MEW: “This integration shows that wallets are becoming much more than just places to store crypto. They are becoming portals to access blockchain products and services.”
Brian Norton, MyEtherWallet COO said that as a .crypto registrar MEW was giving its users “an easy option for engaging with the decentralized web”.
Unstoppable Domains launched its ‘.crypto’ domain registrations in December 2019, — generating more than 30,000 transactions in the first 24 hours. It’s backed by Draper Associates and Boost VC, and received funding from the Ethereum Foundation and Zilliqa Foundation.
The company said it has now registered over 200,000 domains. Unstoppable’s first domain extension product was ‘.zil’ — of which it has sold more than 100,000.
MyEtherWallet to Offer ‘.Crypto’ Blockchain Domains to 1 Million Users
Unstoppable Domains and MyEtherWallet are partnering to let the wallet’s users buy .crypto domains, exposing uncensorable domains to a wider audience.
Users of MyEtherWallet, an Ethereum wallet app, will soon be able to buy a .crypto domain from the wallet’s interface. Unstoppable Domains, a company that is hoping to spread awareness of the decentralized domain type, entered a partnership with the wallet provider.
Announced on April 23, the integration with MyEtherWallet would allow the domain provider access the wallet’s 1 million monthly active users. Unstoppable Domains refers to the wallet company as a domain registrar, which are normally companies responsible for reselling domains.
Unlike with traditional domain registration, custody of the domain is tied to the specific wallet and is not controlled by any centralized entity.
The .crypto domain is based on Unstoppable Domains’ smart contracts on Ethereum, which are responsible for assigning the domains and looking up the addresses.
It is separate from the Ethereum Name Service (ENS), which assigns .eth domains, but the functionality is similar. Unstoppable Domains can tie the .crypto domain to an Ethereum wallet, making it possible to send money to human-readable addresses.
Building An Uncensorable Web
The company is also pushing the .crypto domain as an uncensorable alternative to existing web addresses.
Since it falls outside of the traditional domain name infrastructure, normal browsers cannot open .crypto websites. As reported by Cointelegraph in March, the Opera browser entered into a partnership with Unstoppable Domains to accept blockchain-based domains.
Opera nevertheless only holds 2.2% of the global market share. For Chrome users, Unstoppable Domains released a browser extension.
The company stresses that blockchain domains are not going to make the web uncensorable by themselves, but they help users bypass restrictions when publishing content.
It is worth noting that many of the milder censorship systems are implemented only on DNS servers, and can be bypassed by tools such as the Google DNS. The .crypto domain could thus help in these scenarios.
Crypto Wallets To Act As Resellers
Co-founder of Unstoppable Domains, Brad Kam, told Cointelegraph that MyEtherWallet is only the beginning:
“Crypto wallets are the best places for crypto users to discover blockchain domains. We’d love to talk to other wallets that may be interested.”
Since wallets also hold the domains, it makes sense that they would offer purchase services, similar to how most of them provide tools for buying crypto. Kam concluded:
“This integration shows that wallets are becoming much more than just places to store crypto – they are becoming portals to access blockchain products and services.”
GoDaddy Email Confirmed: New Details on KuCoin’s Legal Troubles in Singapore
Cointelegraph confirms new details in KuCoin’s domain lock and legal troubles in Singapore.
Last week, Cointelegraph reported that KuCoin’s primary web domain, Kucoin.com, had been locked by a Singaporean court. In a statement posted on its website and in its public Telegram channel throughout the past week, KuCoin alleged that our reporting was “unverified” and “untrue.” In response, Cointelegraph is now publishing further evidence of its original reporting.
Authenticity Of The Email: Confirmed
In the original article, Cointelegraph contributor Andrew Capon published a screenshot of a GoDaddy email showing that the web domain registrar is complying with a court order issued by the High Court of Singapore. Cointelegraph has since obtained the original email file of the message sent by GoDaddy.
The Email From GoDaddy to KuCoin, Showing Its Domain Locked By Court Order In Singapore
Using the new file, we were able to authenticate the cryptographic signature in the email headers, proving that the email we obtained did indeed come from the email address Courtdisputes@godaddy.com. GoDaddy definitively sent the email Cointelegraph reviewed to email address firstname.lastname@example.org.
GoDaddy Did Not Respond To A Request For Comment From Cointelegraph.
A domain lock is distinct from a domain block — kucoin.com is still accessible in Singapore. The significance of a domain lock is that the domain cannot be transferred, preventing the current owner from transferring control of the domain to another entity.
The Court Order: What We Know And Don’t
Due to the particulars of the Singaporean court system, the full contents of the court order are not publicly available at present, nor is the original complaint in the case. However, using Singapore’s eLitigation database, Cointelegraph was able to verify the existence of an “order of the court” issued by Justice Kannan Ramesh in case number HC/OS 342/2020 — the same case number referenced in the GoDaddy email. That order was issued on March 24, 2020 — six days before GoDaddy’s email.
The defendants listed in that case are: MEK Global Limited, PhoenixFin Limited, and PhoenixFin PTE Limited. As Cointelegraph previously reported, these entities have been passing trademark rights for the Kucoin logo between themselves for some time, though they share addresses — including Fortunate Icon, unnamed in the recent court order.
Moreover, PhoenixFin PTE is the current owner of the Kucoin.com domain name, per the Internet Corporation for Assigned Names and Numbers, which lists that company’s address as just “Singapore, Singapore.”
Neither KuCoin representatives nor any of these individual entities responded to requests for comment for this article.
According to the publicly available database, the plaintiff in the case against KuCoin is Convexity Limited. Documentation is limited, but a Gibraltar-based Convexity shares a name as well as the last four digits of its identification number with the Convexity in the court order.
Cointelegraph reached out to Convexity, but the firm did not respond by press time. An individual familiar with the matter told Cointelegraph that Convexity provided cyber-security services to KuCoin under a long-term contract.
KuCoin’s Legal Trouble In The U.S.
Meanwhile, in the U.S., KuCoin was one of a fleet of firms in the crypto space targeted by recent class action lawsuits in New York’s Southern District.
To all appearances unrelated to the case in Singapore, the suit in New York alleges securities violations in Kucoin’s listing and promotion of a number of tokens during the initial coin offering frenzy of 2017-2018:
“KuCoin participated in illegal solicitations and sales of securities for which no registration statement was in effect, and as to which no exemption from registration was available.”
You can now purchase .crypto domains directly through MyEtherWallet!
Check out our discussion with the MEW team about the integration, why it’s important, and how together we can build a decentralized future.
– We held an AMA with Ivan On Tech. Check it out here!
– Our new For Sale template is live.
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Decentralized Web Protocol IPFS Has Its Biggest Update So Far
Decentralized file- and web-hosting protocol InterPlanetary File System (IPFS) announced its largest upgrade so far.
According to an announcement shared with Cointelegraph, the developers will release IPFS version 0.5. on April 28.
IPFS 0.5 reportedly makes uploading new data 25 times faster, fetching content two to five times faster, while finding nodes that have it will be two to six times quicker after the network performs the upgrade.
IPFS uses a distributed hash table (DHT) to index its files and allow their navigation. In IPFS 0.5 the DHT implementation was overhauled with improved logic, which resulted in a more efficient system:
“This has made searching faster and more efficient — meaning significantly fewer dials, faster queries, and less bandwidth for the network as a whole.”
IPFS project lead Molly Mackinlay told Cointelegraph that finding and fetching content faster “will significantly improve the user experience of all apps and websites built on IPFS.”
Mackinlay believes that this update is particularly important for decentralized applications that require fast updates, content routing, and data transfers. Furthermore, she explained that faster announcing and adding times will decrease the system resources needed to run IPFS, which will make service operations cheaper for developers. She continued:
“There’s also a ton of smaller features – like support for .eth domains, tools for fast data importing and exporting, and developer tooling improvements. […] Apps like social networks, distributed video players, and package managers will see big improvements from IPFS 0.5 as they’re able to find and fetch data faster.”
Lastly, Mackinlay also pointed out that there’s still much space for improvement for protocol development. She explained:
“We’re actually only half-way through our H1 focus on content routing improvements – and we think we can definitely shave off another 2x, likely much more, in our upcoming 0.6 and 0.7 releases later this quarter. There’s a lot of other areas that could use more help and attention, so anyone with some free cycles should take a look at the help-wanted issues or our open bounties to get a sense of what features, documentation, or tooling would be most useful.”
Web 3.0: The Future Of The Internet?
Web 3.0 is an umbrella term for technologies which according to some will power the future version of the web. Many in the cryptocurrency community believe that this future version of the web will be decentralized instead of relying on hosting data — such as websites — on centralized servers.
Hosting data on big, centralized servers creates a centralized point of failure that, in the case of a hack, could result in the loss of massive amounts of sensitive personal information. Furthermore, those servers are managed by firms that often sell data to third parties — sometimes with catastrophic consequences, as the Cambridge Analytica scandal showed.
IPFS aims to provide a decentralized alternative to server-based hosting which the developers say is resilient, upgradable, more open, and safer. In the long run, the developers hope the initiative will also make the web faster.
Mackinlay pointed out that mainstream web browser Opera, crypto-enabled web browser Brave, the Ethereum Name Service and major web service Cloudflare all already support the IPFS protocol.
Web 3.0 development is a major area of focus for cryptocurrency and blockchain firms. The reason for this is the great theoretical potential of such initiatives. Galaxy Digital CEO Mike Novogratz argued in March that Web 3.0 — and not just Bitcoin (BTC) — will change the world. As Cointelegraph reported at the end of 2019, many also believe that Web 3.0 will drive worldwide cryptocurrency adoption.
We have a few announcements to share with you this week:
- Over 2,000 websites are now live on the decentralized web!
- Our IPFS Uploader is live. Pin your own files to IPFS directly from our website.
- Switcheo Network launched their decentralized exchange switcheo.crypto to IPFS.
- Brad Kam was a guest on the podcast Hashing It Out.
- We are excited to be a part of the COVID19 Relief Charity Concert.
Vulcanfeeds.crypto is live on the decentralized web!
Access Chainlink price feeds for:
- BTC, ETH, DAI, and more!
Take a look at our latest updates:
- You can now use Crypto.com Pay to purchase domains on our website!
- We will be hosting an AMA with Crypto.com on May 25th.
- Edge now supports .crypto and .zil domains for payments!
- Over 6,000 websites are now live on the decentralized web.
- Ready to build your own website? Launch an IPFS website in a few minutes with our Web Builder.
You can now manage your .crypto domains using Ledger with our new Guest Manage feature!
Guest Manage Specifications:
- No account needed. Just connect your wallet!
- Manage domains stored on Ledger.
- Set and pay your own transaction fees.
- Support for ENS making it a tool the entire blockchain domain community can use!
Here is a recap of our updates from this week!
- Manage your .crypto domains stored on Ledger with our new Guest Manage feature.
- You can now use Crypto.com Pay to purchase domains on our website.
- We will be hosting an AMA with Crypto.com on May 25th.
- Edge now supports .crypto and .zil domains for payments.
- Over 6,000 websites are now live on the decentralized web.
- Ready to build your own website? Launch an IPFS website in a few minutes with our Web Builder.
Do you store your domains on your mobile wallet?
You can now use WalletConnect to manage domains stored on mobile on your desktop browser!
- Connect your mobile wallet using Guest Manage
- Add your cryptocurrency addresses
- Add your IPFS hash
Here is a full list of mobile wallets with WalletConnect support.
Here is a recap from the week!
- You can now manage domains stored on mobile on your desktop with WalletConnect!
- Check out our presentation from the IPFS Pinning Summit.
- Our co-founder Brad Kam was interviewed by CoinCodex.
- Join our AMA with Crypto.com on Monday May 25th.
- We discussed the decentralized web and blockchain protocols with Emin Gun Sirer from AVA Labs.
Our co-founders Matt Gould and Brad Kam recorded an AMA answering questions submitted by the Crypto.com community. You can now watch the AMA on Twitter and YouTube!
- Our greatest objective at the moment
- Innovation in the blockchain space
- Why build a new system?
- Using blockchain domains on exchanges
The Unstoppable Extension has surpassed 3,000 downloads and over 7,000 websites are now live on IPFS!
Check out these websites:
- kyber.crypto – swap tokens instantly.
- myetherwallet.crypto – create wallets and manage assets.
- switcheo.crypto – a decentralized exchange.
- dtube.crypto – stream videos.
Did you know that you can launch a decentralized website in a few minutes by using one of our templates?
- Find a domain
- Pick a template
- Customize your website
Join over 7,000 websites on IPFS today!
- Over 13,000 unique Ethereum addresses now hold .crypto domains.
- 10,000+ templates have been used to build websites.
- We released a new video tutorial on managing domains stored on Ledger.
- Take a look at our Feature Guide for information on how to use your domain.
- Check out our latest AMA with Crypto.com.
Surf the decentralized web with Opera for Android, the Unstoppable Extension, and the Unstoppable Blockchain Browser!
Unstoppable Domains Launches Censorship-Resistant Blogging Platform
Decentralized blogging is coming to a URL near you thanks to a partnership between Unstoppable Domains and Protocol Labs.
Launched Thursday, San Francisco blockchain firm Unstoppable Domains has released its decentralized blog (dBlog) service hosted on Protocol Lab’s InterPlanetary File System (IPFS), complete with the .crypto domain.
“No one can take it down,” Unstoppable Domains co-founder Brad Kam said in a phone interview. “We expect over time all sorts of content that is currently controversial or maybe even not permissible in certain parts of the world popping up because the censorship-resistant internet is usable now.”
dBlogs come complete with tools similar to Medium, with functionality such as plain text, images, audio and video, according to the company. Notable crypto investors and enthusiasts such as CoinShares CSO Meltem Demirors, venture investor William Mougayar and Ethereum developer Alex Masmej have launched personal blogs on the network.
In an email, Demirors told CoinDesk her experience watching the Turkish government censor Wikipedia from 2017 until earlier this year and subsequent actions by IPFS to preserve the domain made her “really interested in the application of IPFS in defending civil liberties and freedom of information.”
Masmej, on the other hand, said he is less interested in the censorship-resistant properties of dBlog than having a permanent nook on the internet for his own thoughts. “It’s like writing for the future,” he said in a private message.
Data is stored using 3Box, which leverages the peer-to-peer (P2P) architecture of IPFS for secure and decentralized storage.
Kam of Unstoppable Domains noted the recent rise in censorship among tech platforms, not to mention nation-states with less lenient free speech guarantees than the U.S. He pointed to a report from think tank Freedom House that claimed some 2 billion people “experience a partially or fully censored internet.”
“The numbers are pretty alarming and I think the trend is towards more,” Kam said. “As the world digitizes, the stakes become higher.”
dBlog comes on the heels of Unstoppable Domains integration with web browser Opera on its Android product. Kam said Unstoppable Domains has over 200,000 registered domains to date placing it in the conversation with a handful of decentralized domain registry projects.
An Ethereum Wallet Will Let You Easily Host Your Decentralized Website
MyEtherWallet is adding an integration with IPFS to let its users easily launch websites on the decentralized web, but the network is still quite limited.
MyEtherWallet, a well-known Ethereum wallet app, is releasing a feature named “Host Your Own Site” that provides an easy interface for its users to upload a website to the InterPlanetary File System, or IPFS.
IPFS-based websites are tied to Ethereum-based domain name services, such as ENS and Unstoppable Domains, which feature either “.eth” or “.crypto” suffixes.
The websites are hosted on a decentralized network of peer-to-peer computers, which makes them resilient to most censorship tools available for the traditional web.
The integration on MyEtherWallet automates the process of uploading a website to the IPFS. As Kosala Hemachandra, the CEO of MyEtherWallet, explained to Cointelegraph, users provide a .zip file containing the website’s files, while the dedicated app takes care of uploading it to IPFS and associating it with a blockchain domain.
It’s worth noting that the technology is still in a relatively crude state. As Hemachandra explained, the websites can only have static pages. When asked if a content management system like WordPress could be installed on IPFS, he replied:
“In order for something like WordPress to work you have to have a backend server. Because of that — there are no servers in the distributed world — so there is no way to run the full WordPress instance.”
Websites built on WordPress can still be uploaded to IPFS, but they need to be exported as fully static snapshots through third-party plugins.
This, he added, is due to “fundamental limitations on creating something like a distributed server.” The issue is unlikely to be solved soon, but he emphasized that “nothing is impossible.”
This doesn’t mean that IPFS websites are completely static, however. Many decentralized finance frontends are also hosted on the network, as they are purely client-side apps that directly interface with the blockchain.
Another present issue of IPFS-based websites is the difficulty in accessing them. Natively, only the Opera browser supports blockchain domains. On all others, special extensions like MetaMask are necessary to view them. Hemachandra also noted that some of these websites are available through proxies with a “.link” domain on the normal web.
Familiarizing Users With Crypto Domains
Hemachandra noted that many people who purchased crypto domains “didn’t know what to do with that.” The initial use case was to associate the long Ethereum hexadecimal address to a human-readable domain, but “that’s not the end of it,” Hemachandra said.
Hosting a website is thus a way for the company to expose people to some of the more advanced uses of blockchain domains.
“And at the same time, we want to enable free speech,” added Hemachandra. He noted that in the cryptocurrency world many platforms still rely on the traditional web, which is inconsistent with the overall vision of the ecosystem.
In Hemachandra’s view, gradually familiarizing users with the experience of using a decentralized website is key to adoption, instead of immediately making a complex and confusing system. He concluded:
“[We are] slowly taking the first step towards a fully decentralized future, and that’s pretty much our goal.”
We are excited to be a part of the PayID launch alongside Ripple, Blockchain.com, BitPay, Crypto.com, Brave, and others!
About the use case:
Blockchain domains and PayID can bridge the gap between crypto and the banking system.
Imagine you have yourname.crypto with crypto addresses linked. You link your PayID to your wire info, then you link your PayID to your domain name.
Send crypto or a bank wire both by typing in just yourname.crypto!
Here are the updates from the week!
- $1,500 Blog Contest ends Tuesday! Submit your blog soon.
- MyEtherWallet enabled a way to add an IPFS hash to domains.
- Unstoppable Domains participated in the PayID Launch alongside Ripple, Crypto.com, Blockchain.com, Brave, and others!
- 4,000+ downloads of the Unstoppable Extension.
- 12,000+ websites are now live on IPFS.
- Here is a video of Brad Kam’s presentation at Messari Mainnet.
Over 13,000 websites are now live on the decentralized web and you can access them with Opera for Android, the Unstoppable Extension, or the Unstoppable Blockchain Browser.
- kyber.crypto – swap tokens instantly.
- myetherwallet.crypto – create wallets and manage assets.
- switcheo.crypto – a decentralized exchange.
- dtube.crypto – stream videos.
Here Are The First 5 Winners From Our Blog Contest:
Our latest Unstoppable AMA is live!
Matthew Gould (CEO and co-founder) answered questions from the community.
- Decentralized blogs and social media
- Cooperative relationship between blockchain domains and PayID
- Using blockchain domains for email
- How information is saved to your domain
- Accelerating the growth of the decentralized web
The team at Etherscan has released Blockscan, a search engine for the decentralized web!
Blockscan indexes .crypto and .zil websites.
Check out these featured websites:
Huobi Wallet has added .crypto domain resolution for their Ethereum Wallet!
Domain resolution for additional cryptocurrencies in Huobi Wallet is coming soon.
– See the growing list of applications that support blockchain domains here.
– Check out our latest AMA.
– Blockscan by Etherscan is a new search engine for the decentralized web!
The Unstoppable Team
Dchat was featured on Hackernoon!
2. Decentralized Chat Protocols with Unstoppable Domains (video)
What makes Dchat different compared to traditional chat?
1. User Controlled – You own your messages. If an app shuts down, gets hacked, or bans a user, it doesn’t matter because usernames are stored by the user and messages are stored on a p2p network, not the app’s servers.
2. Secure – A crypto wallet is required to login, messages are encrypted and can only be read by the user.
3. Shared Inbox – Users see the same contacts/messages in every app that uses the protocol.
The Unstoppable Team
Here are our updates for the week!
- DChat, a decentralized p2p chat protocol, went live on 7/7!
- DChat was launched out of Mozilla Browser’s ‘fix the internet’ program.
- Set up your domain for chat.
- Start chatting here.
- Introducing DChat – Decentralized Chat for All (Blog)
- Decentralized Chat Protocols (Video)
- Onboarding the planet to the decentralized web (Video)
- New chat app harnesses Ethereum to send private messages (Decrypt)
- With Chat Privacy Under Threat in US, Firm Develops ‘100% User-Controlled’ Messaging (CoinDesk)
- $8,000 in prizes are up for grabs for developers looking to build their own decentralized chat and IPFS websites.
The Unstoppable Team
Check out our latest AMAs with HackFS and Hackernoon!
– Math Wallet now supports .crypto and .zil domain resolution.
– HackFS is live! $8,000 in prizes for developers looking to build IPFS websites.
The Unstoppable Team
Here are our updates from the week!
- 19,000+ unique Ethereum addresses now hold .crypto domains.
- 18,000+ websites are now live on the decentralized web.
- Math Wallet now supports .crypto and .zil domain resolution.
- AMA with HackFS (video).
- AMA with Hackernoon (text).
- Alex Masmej answered questions from followers on Unstoppable Chat.
The Unstoppable Team
Winklevoss’ Gemini To Offer Custody of .Crypto Blockchain Domains
Users can now store Unstoppable Domains’ .crypto addresses with Gemini Custody.
Unstoppable Domains, a major blockchain domain provider, is hitting another milestone as Winklevoss brothers’ Gemini exchange now offers custody for its “.crypto” domains.
Starting from July 23, users can store their “.crypto” addresses obtained through Unstoppable Domains with Gemini Custody — a tool that is designed to store crypto assets in a regulated, secure and compliant manner.
Domain Registrars 101Domain And EnCirca Are Among The First Users
Registrars of traditional DNS domains are being targeted as top customers of the new service. Providers like 101domain and EnCirca will be the first resellers of the new product, Unstoppable Domains’ co-founder Brad Kam told Cointelegraph.
By using Gemini’s custody services, the registrars will purportedly be able to protect their blockchain assets. “They have traditional companies that don’t want to store their own domains,” Kam added.
Introduced by Unstoppable Domains in October 2019, a “.crypto” domain is a domain registry based on the Ethereum blockchain.
The registry allows users to connect any crypto address to their domain, enabling domain payments and uncensorable websites. Blockchain domains represent non-fungible tokens, or NFTs, built on Ethereum and stored on a user’s wallet.
According to Kam, Gemini is the first exchange to provide this storage to NFTs in general. “This is great for companies that don’t want to store their own keys,” the executive noted. Kam elaborated that, alongside Gemini’s custody opportunity, .crypto domains can deploy hardware wallets like Ledger for secure storage. “Lots of people use Ledgers for this currently,” the exec said.
Crypto Exchanges Are Also Looking At Using .Crypto Domains
Backed by major blockchain investor Tim Draper, Unstoppable Domains has registered over 200,000 domains to date, including domains like Kyber.crypto, Switcheo.crypto, myetherwallet.crypto, and meltemdemirors.crypto.
The domain name industry is actively deploying blockchain technology to develop the decentralized web. On July 21, major domain registry Verisign acquired a blockchain patent that is designed to turn traditional domains into a “blockchain user address,” allowing them to interact with other participants on the network. Previously, popular browser Opera became the first major browser to integrate the .crypto domain extension.
Coinbase Follows Huobi In Supporting .Crypto Domains-Based Payments
Coinbase Wallet now allows to register and store “.crypto” domains, featuring payments through domain handles instead of cryptographic addresses.
Coinbase Wallet, a service of the largest crypto exchange in the United States, now supports “.crypto” domains via an integration with blockchain domain provider Unstoppable Domains.
Coinbase users can now send payments to each other by simply typing a .crypto domain instead of using long-form cryptographic addresses, Unstoppable Domains told Cointelegraph on Aug. 5.
By introducing the new integration, Coinbase Wallet joins major crypto exchange Huobi, which announced a similar feature in late June.
Brad Kam, co-founder of Unstoppable Domains, says that Coinbase Wallet is the first platform to offer an “all in one solution” for all cryptocurrencies offered by the wallet. According to Unstoppable Domains, Coinbase wallet supports .crypto domains in Bitcoin (BTC), Ether (ETH) and any other currencies provided by the wallet.
Apart from Huobi and Coinbase Wallet, .crypto domains have also been supported by Trust Wallet, an official self-custody wallet owned by the world’s largest crypto exchange, Binance.
Coinbase Will Also Custody .Crypto Domains
Alongside featuring Unstoppable Domains-powered domains, Coinbase wallet will also offer custody support for .crypto domains in the collectibles section of its application. The Winklevoss-founded Gemini exchange also rolled out custody for .crypto domains on July 23.
Coinbase users can also register and manage domains via the Coinbase decentralized application (DApp) browser. In order to send a transaction to a domain, Coinbase users need to pradd their wallets to Unstoppable Domains within the DApp browser, Kam explained.
Blockchain technology is being increasingly implemented by domain name providers. On July 21, major domain registry Verisign acquired a blockchain patent to transform traditional domains into blockchain user addresses to enable interactions with other participants on the network. After launching Ethereum-based .crypto domains in late 2019, Unstoppable Domains has registered more than 200,000 domains to date.
Here are our updates from the week!
- We are live in Coinbase! Pay, store, and manage blockchain domains all from one wallet.
- List a .crypto domain on OpenSea from Coinbase Wallet with this video guide.
- Our co-founder Brad Kam was a guest on the Pomp Podcast.
- Matt Gould and Brad Kam discuss Coinbase, dweb adoption, and more!
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Casa Launches Lightning Node Mobile App For Bitcoin Newbies (#GotBitcoin?)
Bitcoin Rally Fuels Market In Crypto Derivatives (#GotBitcoin?)
World’s First Zero-Fiat ‘Bitcoin Bond’ Now Available On Bloomberg Terminal (#GotBitcoin?)
Buying Bitcoin Has Been Profitable 98.2% Of The Days Since Creation (#GotBitcoin?)
Another Crypto Exchange Receives License For Crypto Futures
From ‘Ponzi’ To ‘We’re Working On It’ — BIS Chief Reverses Stance On Crypto (#GotBitcoin?)
These Are The Cities Googling ‘Bitcoin’ As Interest Hits 17-Month High (#GotBitcoin?)
Venezuelan Explains How Bitcoin Saves His Family (#GotBitcoin?)
Quantum Computing Vs. Blockchain: Impact On Cryptography
This Fund Is Riding Bitcoin To Top (#GotBitcoin?)
Bitcoin’s Surge Leaves Smaller Digital Currencies In The Dust (#GotBitcoin?)
Bitcoin Exchange Hits $1 Trillion In Trading Volume (#GotBitcoin?)
Bitcoin Breaks $200 Billion Market Cap For The First Time In 17 Months (#GotBitcoin?)
You Can Now Make State Tax Payments In Bitcoin (#GotBitcoin?)
Religious Organizations Make Ideal Places To Mine Bitcoin (#GotBitcoin?)
Goldman Sacs And JP Morgan Chase Finally Concede To Crypto-Currencies (#GotBitcoin?)
Bitcoin Heading For Fifth Month Of Gains Despite Price Correction (#GotBitcoin?)
Breez Reveals Lightning-Powered Bitcoin Payments App For IPhone (#GotBitcoin?)
Big Four Auditing Firm PwC Releases Cryptocurrency Auditing Software (#GotBitcoin?)
Amazon-Owned Twitch Quietly Brings Back Bitcoin Payments (#GotBitcoin?)
JPMorgan Will Pilot ‘JPM Coin’ Stablecoin By End Of 2019: Report (#GotBitcoin?)
Is There A Big Short In Bitcoin? (#GotBitcoin?)
Coinbase Hit With Outage As Bitcoin Price Drops $1.8K In 15 Minutes
Samourai Wallet Releases Privacy-Enhancing CoinJoin Feature (#GotBitcoin?)
There Are Now More Than 5,000 Bitcoin ATMs Around The World (#GotBitcoin?)
You Can Now Get Bitcoin Rewards When Booking At Hotels.Com (#GotBitcoin?)
North America’s Largest Solar Bitcoin Mining Farm Coming To California (#GotBitcoin?)
Bitcoin On Track For Best Second Quarter Price Gain On Record (#GotBitcoin?)
Bitcoin Hash Rate Climbs To New Record High Boosting Network Security (#GotBitcoin?)
Bitcoin Exceeds 1Million Active Addresses While Coinbase Custodies $1.3B In Assets
Why Bitcoin’s Price Suddenly Surged Back $5K (#GotBitcoin?)
Zebpay Becomes First Exchange To Add Lightning Payments For All Users (#GotBitcoin?)
Coinbase’s New Customer Incentive: Interest Payments, With A Crypto Twist (#GotBitcoin?)
The Best Bitcoin Debit (Cashback) Cards Of 2019 (#GotBitcoin?)
Real Estate Brokerages Now Accepting Bitcoin (#GotBitcoin?)
Ernst & Young Introduces Tax Tool For Reporting Cryptocurrencies (#GotBitcoin?)
Recession Is Looming, or Not. Here’s How To Know (#GotBitcoin?)
How Will Bitcoin Behave During A Recession? (#GotBitcoin?)
Many U.S. Financial Officers Think a Recession Will Hit Next Year (#GotBitcoin?)
Definite Signs of An Imminent Recession (#GotBitcoin?)
What A Recession Could Mean for Women’s Unemployment (#GotBitcoin?)
Investors Run Out of Options As Bitcoin, Stocks, Bonds, Oil Cave To Recession Fears (#GotBitcoin?)
Goldman Is Looking To Reduce “Marcus” Lending Goal On Credit (Recession) Caution (#GotBitcoin?)
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