Category Archive : All About Crypto

Bitcoin.org Removed from Bitcoin Core Website

Bitcoin.org Removed from Bitcoin Core Website

About four days ago news.Bitcoin.com reported on a dispute concerning the removal of the owner of Bitcoin.org, an anonymous figure known as ‘Cobra.’ At the time a Github contributor opened an issue on the website’s repository, saying that Cobra had become untrustworthy for showing support towards the Bitcoin Cash (BCH) network. Then the CEO of Blockstream and a large swarm of Bitcoin Core supporters insisted the domain should be handed over to someone else. Since then the maintainers of the BTC repository also removed all of the associated links to Bitcoin.org from the Core client’s website.

Also Read: A Look at What It Was Like to Operate the Lightning Network’s Largest Node  

The CEO of Blockstream Thinks Cobra Should Transfer Control to a Trusted Person or Group

Bitcoin.org Removed from Bitcoin Core Website Many Bitcoin Core (BTC) proponents have been upset at the owner of Bitcoin.org for showing some support towards the Bitcoin Cash (BCH) protocol. Four days ago a Github contributor opened an issue that stated a number of individuals feared Cobra because he started “suddenly propagandizing BCH as ‘The Real Bitcoin.’” The individual further noted that he didn’t feel comfortable that a pseudonymous person has “total control of the Bitcoin.org domain name.”

Then in a different chat channel the CEO of Blockstream, Adam Back, asked Cobra to relinquish control over the domain “to a trusted person or group to hold in trust for the public interest.” Back also lambastes Cobra for caring about “Bcash” and at the very least Cobra should call BCH — “Bcash.” Cobra then responds and states “I’m waiting for names Adam.” Back then replies back “Cobra maybe Wladimir? — How about in terms of a name you transferred domain control to Theymos — You obviously know, and trust him quite well for many years from several sites and domains you’ve both maintained.”

Cobra didn’t seem to like Back’s commentary, stating:

Adam, you should not be the CEO of Blockstream. I think you should transfer control of Blockstream to Warren Togami or something… Adam, this notion of “community property” only exists in your head because you want to influence who owns Bitcoin.org so they submit to your agenda.

Bitcoin.org Removed from Bitcoin Core Website
Blockstream CEO, Adam Back’s interesting conversation with Cobra.

Bitcoin.org Links Decoupled from Bitcoincore.org

Following the argument between Back and Cobra, this past Sunday a Github commit to the Bitcoin Core website went viral on cryptocurrency forums and social media. The commit called ‘Adjust bitcoincore.org links’ was merged by the most prominent (as far as writing Core code) Bitcoin Core developer, Wladimir van der Laan. Essentially Wladimir removed associated links to Bitcoin.org from the Bitcoincore.org website. Immediately a Github contributor named Daniel Ginovker spoke out against the move to delete the links.

“Seriously? You guys are that upset at Cobra for not denouncing Bitcoin Cash?” Ginovker asks the Core developers.

Cobra, if you read this, I genuinely am on your side at this point. You’ve done an excellent job with Bitcoin.org, and it is in your domain. Don’t succumb to this Blockstream bullying forcing you to give up your playing cards.

However, other Core contributors were pleased with the decision to remove Bitcoin.org associations, and Jonas Schnelli explains the decision had nothing to do with Cobra. 

“This has nothing to do with Cobra or any other influencer — The reason why we still linked to Bitcoin.org was historical since the domain was once owned by Satoshi,” explains Bitcoin Core developer Jonas Schnelli. “It’s a natural and logical step to decouple the Bitcoin Core project from any centralised organised website — Bitcoin Core is the/a reference implementation of the Bitcoin Protocol and there is no need to link it with any website outside of the projects control.”

Bitcoin.org Removed from Bitcoin Core Website

Cobra: ‘Bitcoin is Much Bigger Than Bitcoin Core’

Following the merge, Cobra writes to his followers on Twitter saying, “Bitcoin is much bigger than Bitcoin Core.”

Bitcoin Core (BTC) proponents don’t know what to think of Cobra, and it’s safe to say a great majority of BTC supporters don’t trust him. It’s also clear and evident that the angst towards Cobra is because he’s not towing party lines and because he doesn’t use the phrase ‘Bcash.’ For now, the Github request, the Blockstream CEO, and the slew of Core followers have not phased Cobra, and it doesn’t seem like he will be relinquishing the domain any time soon. 

What do you think about the controversy towards Cobra and the how Core supporters want him to relinquish the Bitcoin.org domain? What do you think about Core developers removing Bitcoin.org links from the website? Let us know what you think about this subject in the comment section below.


Images via Shutterstock, Pixabay, Github, Bitcoin.org, and Reddit.


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The post Bitcoin.org Removed from Bitcoin Core Website appeared first on Bitcoin News.

Interest in Philippines Economic Zone Crypto License Spikes – 17 Firms Paid in Full

Interest in Philippines Economic Zone Crypto License Spikes - 17 Firms Paid in Full

The Philippines government-owned Cagayan Economic Zone Authority (Ceza) is in the process of issuing more crypto licenses. Interest for the license by offshore companies “surpassed all our expectations,” Ceza administrator said. Seventeen firms have already paid in full; 19 more are in the pipeline. Ceza expects to earn about $68 million from crypto licensing.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

17 Companies Paid in Full

Interest in Philippines Economic Zone Crypto License Spikes - 17 Firms Paid in FullCeza previously announced that it will issue 25 Financial Technology Solutions and Offshore Virtual Currency (Ftsovc) licenses. The permits allow licensees “to establish a financial tech, crypto, and blockchain office” at the zone, Bitpinas news outlet described.

According to the Philippines News Agency, Ceza administrator and chief executive officer Raul Lambino revealed last week:

17 fintech and offshore virtual currency firms have already paid in full the application and license fees for the digital coin trading under Ceza … 19 companies are in the pipeline to pay their application and license fees to Ceza.

Last week, Ceza awarded a license to Liannet Technology Ltd., a subsidiary of the Apsaras Group. It was the second license Ceza has issued; the first went to Hong Kong company Golden Millennial Quickplay Inc. in June.

The Philippines Daily Inquirer cited Lambino, revealing:

Other firms that had already paid fees to operate in Ceza were Formosa Financial Holdings, Sino-Phil Economic Zone Agency Development and Management Corp., Asia-Pacific International Ltd., Hong Kong Yuen Shing-Hong Ltd., Tanzer Inc. and Rare Earth.

Boosting Revenues with Crypto License Fees

Interest in Philippines Economic Zone Crypto License Spikes - 17 Firms Paid in FullLambino said in a press statement Friday that the income from Ftsovc application and license fees “exceeded 2017 revenue by more than 50 percent,” the news outlet detailed. The interest expressed by offshore companies to operate in Ceza “surpassed all our expectations,” he added, noting that fintech operations are expected to create an initial 20,000 jobs.

Ceza “has earned more than P200 million [~$3.7 million] from offshore financial technology firms to raise its total revenues to at least P340 million [~$6.4 million] by the end of the second quarter of the year,” the publication described, elaborating:

Ceza expects to earn some PHP3.6 billion (~US$68 million) from the issuance of Ftsovc licenses, on top of the 0.1 percent share for every transaction value of registered digital coin exchanges.

Recently, there have also been reports that Ceza is launching its own cryptocurrency. However, Ceza staff told Bitpinas last week that this is not the case.

What do you think of all these crypto firms wanting to operate in Ceza? Let us know in the comments section below.


Images courtesy of Shutterstock and Ceza.


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Archaeologists Argue Micronesian Stone Money Comprises Bitcoin Predecessor

Archaeologists Argue Micronesian Stone Money Comprises Bitcoin Predecessor

Archaeologists are arguing that a pre-modern stone money used by Micronesian islanders resembles a precursor to bitcoin and distributed ledger technology.

Also Read: Largest Cannabis Community Market in Israel to Accept Bitcoin Payments

Archaeologists Highlight Similarities Between Micronesian Stone Money and Bitcoin

Archaeologists Argue Micronesian Stone Money Comprises Bitcoin PredecessorScott Fitzpatrick, an archaeologist at the University of Oregon in Eugene, has argued that a stone form of money used by inhabitants of the Micronesian island of Yap, at least several hundred years ago, comprises a predecessor to bitcoin and blockchain technology. “Stone money transactions on Yap were the precursor to Bitcoin and blockchain technologies,” Mr. Fitzpatrick stated.

During April’s annual meeting of the Society for American Archaeology in Washington, D.C., Mr. Fitzpatrick elaborated on his theory, stating: “Centuries ago in western Micronesia, Yapese islanders began traveling to the Palauan archipelago to carve their famous stone money from limestone, which they then transported back to use in a variety of social transactions. While commonly referred to as ‘money’, these disks were not currency in the strict sense, though their value is not dissimilar to other traditional and modern objects where worth is arbitrary based on both real and perceived attributes (e.g., size, shape, quality, pedigree, or other factors). These characteristics have corollaries in today’s society for material culture and electronic cryptocurrencies that use blockchain technology—essentially, digital ledgers that track financial transactions in real time across a computer network to ensure that they are seamless and incorruptible.”

According to Science News, each limestone disk, or “rai,” was “assigned a value based on size, evenness of shape, stone quality and risks taken on the journey. After being inspected and verified by a local chief, rai were displayed at communal spots, such as ritual dancing grounds. Ownership of a disk could be transferred, for instance, as a wedding gift, to secure political allies or in exchange for food from residents of nearby islands after a severe storm. These deals also occurred in front of the whole community. No matter who acquired a rai, it stayed in its original location.”

“Traditional Forms of ‘Money’ or Exchange Valuables are the Precursor to Bitcoin”

Archaeologists Argue Micronesian Stone Money Comprises Bitcoin PredecessorAmong the similarities highlighted between rai and bitcoin, is the public storage of rai, the peer-to-peer maintenance of the infrastructure and circulation of rai, the open auditability of rai, the use of rai as a means of exchange, and the fact that rai were produced through a process of mining.

Mr. Fitzpatrick concludes that “transactions involving traditional forms of ‘money’ or exchange valuables are the precursor to Bitcoin and other technologies that demand a unified and continuous chain of information to ensure that the value is known and ownership indisputable. This research suggests that Yapese stone money is just one of many cases in the ancient past of humans, through social networks, attempting to create accurate and unbroken lines of communication so that economic relationships can be established, maintained, and rectified.”

Kathryn Sampeck, an anthropological archaeologist at Illinois State University in Normal, has also supported the theory that the stone money of Yap resembles a predecessor to bitcoin technology, describing such as “legitimate.”

What is your response to Mr. Fitzpatrick’s theory? Join the discussion in the comments section below!


Images courtesy of Shutterstock


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Football Team in Gibraltar to Pay Its Players in Cryptocurrency

Football Team in Gibraltar to Pay Its Players in Cryptocurrency

Gibraltar just scored a major unexpected goal in the great tournament to be known as the most Bitcoin-friendly jurisdiction in Europe. A local football team made international sports headlines for deciding to pay its players with cryptocurrency.

Also Read: Banks Don’t Really Want to Use ‘Blockchain’ for FX Settlement After All

Gibraltar United to Pay Its Players in Cryptocurrency

Football Team in Gibraltar to Pay Its Players in CryptocurrencyGibraltar United F.C., a team founded in 1943 and currently playing in the Gibraltar Football League’s Premier Division, has decided to introduce cryptocurrency salary payments for its players. The club reportedly secured a sponsorship partnership with the help of the owner, Pablo Dana, an investor in the Quantocoin ICO. Dana told the UK’s Guardian newspaper that all player contracts will include payment agreements in cryptocurrency by next season.

The owner explained that a “preoccupation with transparency” prompted the introduction of cryptocurrency to Gibraltar United, predicting that the technology’s open-access nature could curtail the “corruption scandals that have plagued football.” It has also reportedly given his club an easy way to help foreign players who have difficulty setting up bank accounts in the British Overseas Territory. As for the legal environment in Gibraltar, Dana commented that: “It was the first [place that] regulated betting companies 20 years back, when everyone was seeing them as horrible. They put compliance and anti-money laundering regulations and created a platform – they have the intelligence to do the same with cryptocurrencies.”

Cryptocurrency involvement in the sports field is nothing new, but it usually focuses on betting, gaming and project promotion deals. And as the newspaper notes, in January the Turkish amateur league club Harunustaspor signed 22-year old Omer Faruk Kiroglu for 2,000 liras worth of BTC and 2,500 liras in fiat cash.

Crypto Hub

Football Team in Gibraltar to Pay Its Players in CryptocurrencyBesides this latest development, Gibraltar has a few other claims to be a cryptocurrency hub. As we reported at the time, regulatory mechanisms tailored to protect customers of cryptocurrency businesses, and its own reputation, went into effect on January 1, 2018. And just a few days ago, the cryptocurrency exchange platform subsidiary of the Gibraltar Stock Exchange officially opened to the public with six cryptocurrencies: BTC, ETH, RKT, LTC, BCH and ETC.

Should everyone interested in Bitcoin try to negotiate receiving part of their salary in cryptocurrency? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


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Largest Movie Theater Chain in Thailand Going Crypto

Largest Movie Theater Chain in Thailand Going Crypto

Thailand’s largest movie theater chain, Major Cineplex, is reportedly integrating crypto payments to allow customers to pay for its services and products with cryptocurrency, including movie tickets and popcorn. Thailand recently began regulating crypto businesses. This week, the Thai Securities and Exchange Commission started accepting license applications from crypto operators.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Largest Cinema Chain in Thailand to Accept Crypto

Largest Movie Theater Chain in Thailand Going CryptoThe largest operator of movie theaters in Thailand is building a digital payment ecosystem in the country through a partnership with Swiss payment company Rapidzpay, the Nation Multimedia recently reported.

Founded in December 1995, Major Cineplex currently lists 143 theaters throughout Thailand on its website, 43 of which are in the greater Bangkok area. The group owns “678 screens, including 7 in Cambodia and 9 in Laos, and plans to expand to 1,000 screens by 2020,” Forbes reported in May last year.

Among the group’s properties is Thailand’s largest multiplex, the Paragon Cineplex, with 16 screens, 5,000 seats, and an Imax theater. It is located in one of Bangkok’s most prestigious shopping malls, the Siam Paragon, known for its luxury goods, floors of restaurants, an aquarium, an art gallery, a large bowling alley, a karaoke center, and a concert hall. It was also at the Paragon Cineplex that Major Group and Rapidzpay signed their partnership agreement.

Largest Movie Theater Chain in Thailand Going Crypto
Rapidzpay iOS app.

Merchants can use Rapidz point-of-sale system to accept cryptocurrencies as well as fiat currencies, the Nation detailed. “Major and Rapidzpay will integrate cryptocurrency payments into established payment gateways to make payment for Major products and services more seamless, secure and efficient.”

While Major Group has not announced which cryptocurrencies will be accepted, the coins supported in both the iOS and Android Rapidzpay apps currently include BTC, BCH, and LTC.

Chanya Tamrongweenichai, the director of marketing at Major Cineplex Group, was quoted by the Nation saying the group believes “Rapidzpay will expand to our other businesses and lead the change for Thailand’s financial ecosystem to be cashless,” noting:

You’ll be able to buy any services and products from us, such as movie tickets, popcorn and other different products with cryptocurrency.

Thailand’s Crypto Regulation in Effect

Largest Movie Theater Chain in Thailand Going Crypto
Rapee Sucharitakul.

Thailand’s cryptocurrency regulation recently went into effect with the Thai Securities and Exchange Commission (SEC) as the primary regulator of crypto businesses. The SEC announced last month that it will allow seven cryptocurrencies to be traded at exchanges in the country: BTC, ETH, BCH, ETC, LTC, XRP, and XLM.

The SEC’s Secretary-General, Rapee Sucharitakul, was quoted explaining this week that “the SEC is (now) open for application approval for operating a digital asset business, as the Finance Ministry’s announcement on digital asset licenses has come into force,” the Nation further detailed:

Rapidzpay is targeting a million active users in Thailand within its first year by attracting both existing and new crypto-enthusiasts who are looking for a simple and convenient platform to convert between fiat and cryptocurrency.

What do you think of Major Group adding crypto payments? Let us know in the comments section below.


Images courtesy of Shutterstock, Thai SEC, Rapidzpay, and Major Group.


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Mining Round-Up: Sky Mining CEO Flees with $35 Million, Texas Attracts Miners

Mining Round-Up: Sky Mining CEO Flees With $35 Million, Texas Attracts Miners

In recent mining news, it has been alleged that the CEO of Vietnam-based Sky Mining has fled the country with $35 million USD in investor funds in his possession. Meanwhile, in the US, Tmgcore has acquired a 100-megawatt data center in Dallas, Texas, and local media have reported that Bitmain will open a mining facility in a former aluminium smelter in Rockdale, Texas.

Also Read: Market Caps for Privacy-Centric Currencies Have Dropped Significantly

Investors Allege CEO of Vietnamese Mining Company Fled to U.S. With $35 Million

Mining Round-Up: Sky Mining CEO Flees With $35 Million, Texas Attracts MinersInvestors and board members of Ho Chi Minh City-based Sky Mining have expressed fears that the company’s chief executive officer, Le Minh Tam, has fled the country and run away with approximately $35 million USD in investors funds.

According to local media, Mr. Tam has not been contactable since Monday, with the exception of an apology note posted to investors on Wednesday via Facebook. Investors reportedly visited the company’s main office in Phu Nhuan District to discover “the building closed and the company nameplate removed.” Additionally, “all 600 mining machines in the company’s factory in the neighboring Dong Nai Province’s Bien Hoa Town had been taken away by a group of people claiming to be maintenance workers.”

Le Minh Hieu, the deputy chairman of the company, is forming a temporary board to “support investors and calculate the remaining asset[s] of the company,” and has accused the CEO of fleeing to the United States. “[The board] has reported this to the police and showed evidence that we are not guilty,” said Mr. Hieu.

Bitmain to Open Mining Facility in Former Aluminum Smelter

According to local media, Bitmain will be opening a bitcoin mining facility in a former aluminum plant in Rockdale.

Jeff Mosier, an energy and environment reporter for Dallas News, states: “The new Bitcoin mining facility is going to be opening at the former Alcoa Aluminum smelter, and that’s next door to the coal plant that just closed. So now that that’s gone, they have a big industrial facility with lots of electricity infrastructure [capable of] Bitcoin mining, which is essentially a huge server farm.”

No indication has been made as to when the facility will launch operations, however Dallas News reports that a listing on job site Indeed.com indicates that Bitmain Technologies is seeking to employ a project manager for the Rockdale location. According to the publication, the facility is expected to create “300 to 500 jobs.”

Tmgcore Purchases $60 Million Data Center in Dallas

Mining Round-Up: Sky Mining CEO Flees With $35 Million, Texas Attracts MinersMining company Tmgcore has acquired a “$60 million USD, 150,000-square-foot data center” in Plano, Dallas, according to local media.

The facility is reportedly capable of a 100-megawatt power load, with the Tmgcore chief executive officer, JD Enright, stating: “One of the things you need is a lot of power, and there’s not a lot of places with 100 MW lying around.”

Mr. Enright claims that the company has “developed a two-phase liquid cooling Immersion technology to dramatically decrease cooling costs by up to 90 percent, allowing us to mine anywhere — even in Plano in the middle of the summer.”

Do you think that Texas will continue to see investment from cryptocurrency mining companies? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


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Zcash Mining Hardware for 2018

The post Zcash Mining Hardware for 2018 appeared first on 99 Bitcoins.nEspaol Zcash is a privacy coin thats been on the market for a few years now. It uses a mining algorithm called Equihash. With an active developer and community, shielded or private transactions, and an appropriate fund for the founders, Zcash has been steadily developing, innovating, and appreciating in price. Zcashs Equihash is currently …n

HashFlare Review Is This Cloud Mining Platform Legit

The post HashFlare Review Is This Cloud Mining Platform Legit appeared first on 99 Bitcoins.nEspaol July 2018 update HashFlare announced thatthat it is stopping mining services and shutting down hardware on currentSHA-256contracts due to difficulty generating revenue. This basically support my theory that there&8217s no way to make any substantial profit with HashFlare and that you&8217re basically putting your money at risk. I&8217ve said it before and I&8217ll …n

The Crypto Show: Chuck Williams & PhoenixCrypto.com

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Market Caps for Privacy-Centric Currencies Have Dropped Significantly

Market Caps for Privacy-Centric Currencies Have Dropped Significantly

Over the past few years, a few privacy-centric cryptocurrencies have gained both in popularity and value. Many of these coins like monero, dash, pivx, zcash, and more were at one time top ten digital asset contenders as far as market valuation is concerned. Now even though a few of these specific digital assets have dropped out of the top ten capitalizations, some of them are not too far behind the highest valued coins, but a great majority of them have significantly lower market caps. 

Also Read: Markets Update: Crypto-Prices See Some Recovery After the Dip

It’s been close to a decade since the birth of the original Bitcoin protocol and there have been over 1600 cryptocurrencies with all types of features launched since then. One specific digital asset feature that’s always been popular among cryptocurrency fans is anonymity. Most people know bitcoin transactions are not anonymous unless a mixing application is used, and even that type of tool is not 100 percent as the method obfuscates transactions at best. Because of this issue, a myriad of privacy-centric cryptocurrencies have been introduced over the years and many of them held top ten positions among the most valued digital assets but all of them have been bumped off the list. Quite a few of the most popular privacy-focused coins have lost considerable value since last December and a few of these tokens are also approaching some new changes and protocol upgrades.

Where Are They Now?

Monero (XMR)

Market Caps for Privacy-Centric Currencies Have Dropped SignificantlyMonero (XMR) is a privacy-focused cryptocurrency that claims to offer untraceable payments, unlinkable transactions, blockchain analysis resistance, and adaptive parameters. The cryptocurrency is different than most digital assets because it’s not based on the original Bitcoin protocol and its consensus is based on the Cryptonight protocol. Since Monero was launched in 2014, the currency has done well as far as market value is concerned. For instance, the first week of trading saw XMR prices reach .99 cents to $2 per coin and over the past couple years XMR has gained around 6,900 percent since launch.

Market Caps for Privacy-Centric Currencies Have Dropped Significantly
Monero markets all-time.

However, this December monero touched a high of $390 per XMR and so far in 2018, with current spot prices on July 28, the coin has lost -64.10 percent of value. More recently, the XMR community found out that XMR was mineable by ASIC hardware and decided to hard fork the protocol which resulted in four different monero forks. Monero is in the midst of planning to add compatibility with a privacy method called Bulletproofs and the XMR development team has announced the first Bulletproofs audit (by Kudelski Security) was successful. Monero is currently priced at $140 per XMR and the cryptocurrency holds the 12th largest market cap position.

Dash (DASH)

Market Caps for Privacy-Centric Currencies Have Dropped SignificantlyAnother coin that offers privacy sending features and enjoyed a long stay in the top ten is the cryptocurrency dash (formally known as darkcoin). Back in 2014, the cryptocurrency was trading for $1.25 -1.50 per DASH and at today’s current prices the digital asset is up 16,100 percent in value which is a pretty extraordinary feat. Although, people who didn’t get in real early on dash and bought the 2017 high have seen a loss of -83.8 percent during dash’s ATH of $1,500 per coin on December 21.

Market Caps for Privacy-Centric Currencies Have Dropped Significantly
Dash markets all-time.

People like dash for a few reasons which include its private send feature which uses the protocol’s masternode program to mix coins and obfuscate transactions. The masternode protocol is a favorite among dash proponents as it allows nodes to earn revenue and it’s also used with the dash governance voting system. Recently, on the dash-focused Three Amigos Podcast, it was revealed that the financial institution Fidelity owns a 15 percent stake in Neptune Dash which is a firm that offers chunks of masternode ownership. People also dislike dash for a few reasons like how it’s always been haunted by the instamine rumors back when the currency launched. Some people accuse dash of being a planned instamine, but the developers have addressed the topic many times denying the allegations. Many dash supporters believe the its features and the community’s marketing have bolstered the coin. Dash is now four spots behind the top ten cryptocurrency capitalizations sitting in the 14th position.

Zcash (ZEC)

Market Caps for Privacy-Centric Currencies Have Dropped SignificantlyAnother privacy-centric coin that has seen a lot of market action since it was launched is zcash (ZEC). In fact, ZEC markets have been pretty wild since it was introduced because if you invested in the currency during the first week of launch you might be seeing a big loss. During the first day of trading ZEC prices were around $2,044 per coin, $574 the next day, then a day later it was $1,624 a ZEC. In a few rare instances, some exchanges hit $12K per ZEC the first day. In order to make transactions private Zcash users send ‘shielded’ transactions which are protected by zero-knowledge cryptography. The zero-knowledge methods the ZEC protocol utilizes are called zk-SNARKs and zcash users can also send open and public transactions as well. However many skeptics believe the minting ceremony process of zero-knowledge proof coins (trusted setup) is not 100 percent foolproof.

Market Caps for Privacy-Centric Currencies Have Dropped Significantly
Zcash markets all-time.

The ZEC protocol has some changes taking place on October 28, 2018, as the cryptocurrency will be upgrading to what’s called ‘Sapling.’ According to the developers, the upgrade will add increased efficiency to shielded addresses and transactions. As mentioned above, ZEC markets have fluctuated intensely since it was launched last October, and during the second week of December, it was roughly $500-675 per coin. Today, on July 28, ZEC is worth $220 per ZEC and investors who bought in December 2017 have lost -56 to -67.40 percent. Moreover, if you purchased during the first week you could have lost -89 to -80 percent.

PIVX (PIVX)

Market Caps for Privacy-Centric Currencies Have Dropped SignificantlyThe cryptocurrency PIVX (Private Instant Verified Transaction) is a privacy-centric Proof-of-Stake (PoS) coin that derives its codebase from the bitcoin protocol 0.10 and dash. The PIVX system also uses a masternode mechanism and the developers claim to have recently introduced Zerocoin (zero-knowledge proofs) technology. If an individual bought PIVX during the first week of launch, the person would have gained 230,900 percent. However, if the person purchased PIVX on January 10, 2018, they would have lost -83.38 percent today. PIVX is not very close to the top ten positions at all, as the currency holds the 80th position amongst the top valued coins within the crypto-economy. Furthermore, the PIVX community has a long history of feuding with the dash community which is likely due to the project’s similarities.

Market Caps for Privacy-Centric Currencies Have Dropped Significantly
PIVX markets all-time.

A Bunch of Different Cryptocurrencies Aim to Provide Anonymity — But As Far As Market Performance is Concerned, Many of these Coins Have Significantly Lower Valuations Than the Top Ten Cryptos   

These four coins have all been top contenders within the cryptocurrency space and there are many other cryptocurrencies that have aimed to offer anonymity. Other cryptocurrencies that have done well within trading markets at one time and offer privacy-centric solutions include Zencash, Bitcoin Private, Komodo, Spectrecoin, Bitcoin Dark, Verge, Navcoin, Boolberry, Zcoin, Deeponion, and more. All of the methods these coins use consist of three similar ideas like zero-knowledge proofs, ring signatures, and masternode mixing services.

Market Caps for Privacy-Centric Currencies Have Dropped SignificantlyNow, most of these cryptocurrencies have some value but a great majority, minus the few mentioned above, are not very close to the top ten crypto-market valuations. The highest valued privacy coins that are somewhat close to the top ten positions include monero, dash, zcash, and verge. That’s only four digital assets, and the rest anon-coin’s market valuations are below the 40th position and don’t seem to be making it to the top-ten lineup anytime soon.

What do you think about privacy coins and how they have performed over the past year? Do you expect any of these cryptocurrencies to make it into the top ten highest valued digital assets? Let us know your thoughts in the comment section below. 


Images via Shutterstock, Pixabay, and the various logos for each coin. 


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The post Market Caps for Privacy-Centric Currencies Have Dropped Significantly appeared first on Bitcoin News.


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