Aeternity Seeks To Future-Proof Blockchain For Tomorrows Smart Contracts

Aeternity Seeks To Future-Proof Blockchain For Tomorrows Smart Contracts

The buzz around smart contracts is a major driving force behind 2017s multimillion-dollar ICOs, yet…nThe post Aeternity Seeks To Future-Proof Blockchain For Tomorrows Smart Contracts appeared first on Bitcoinist.com.n

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The Crypto Show with Danny On The Road Again & Scrooges Matrix

Tonight?’?s episode explores the ongoing saga of Danny?’?s road trip to cannabis-legal states to preach Bitcoin and Dash to marijuana dispensaries, growers, and others for the purposes of bringing the advantages of cryptocurrency to the industry and to bank the unbanked. He is also promoting Defense Distributed?’?s Ghost Gunner, which he will be demonstrating at a gun shop tomorrow. We also broach Stash?’?s intent to integrate Dash into the Stash Node Pro, and we briefly discuss the run-up in cryptocurrency prices and the moral and philosophical issues involved in the Ethereum split.In the final couple of segments, Daniel Krawicz, a.k.a., ?’?œScrooge McAltcoin,?’ leads us in an interesting discussion about an unusual interpretation of the movie ?’?œThe Matrix,?’ and of course it has to do with his favorite topic, cults.

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Ulbricht’s Mother Reflects on the Anniversary of Her Son’s Double Life Sentence

Today marks the two-year anniversary of Ross Ulbricht’s double life sentence handed down by U.S. District Judge Katherine B. Forrest for operating the Silk Road marketplace.

Also read: A New Bitcoin Improvement Proposal Aims to Compromise

The Two Year Anniversary of Ross Ulbricht’s Double Life Sentence

A Mother Reflects on the Anniversary of Her Son's Double Life Sentence
Lyn Ulbricht responds to the media after her son was sentenced to life on May 29, 2015.

Ulbricht’s family and many cryptocurrency enthusiasts were quite surprised that Ulbricht received two life sentences for all non-violent charges on May 29, 2015. Currently, Ulbricht is appealing his sentence, along with his convictions so he can once again be a free man some day. Ross’s mother Lyn Ulbricht details the sentencing was the “worst day” of her life.

“On that day our son, Ross Ulbricht, was given a double life sentence for all non-violent charges,” explains Mrs. Ulbricht.

Despite slander in the media, Ross was not charged at trial with murder-for-hire, and it has never been proven. No victims came forward in court to say Ross had harmed them in any way. Yet Judge Forrest considers Ross so dangerous that he needs to die in a cage.

The Legal Community Criticizes Judge Forrest’s Decision

The family believes the double life sentence was handed to Ulbricht to send a message to others creating dark net markets (DNM). However since Ulbricht’s arrest and shutting down the Silk Road, DNMs sales and marketplaces have doubled. Forrest’s sentence has also been denounced by the legal community such as the former federal judge Nancy Gertner, Just Leadership USA, the Drug Policy Alliance, and the Law Enforcement Against Prohibition organization. After the sentencing, Ulbricht told his mother;

Mom, a life sentence is really a death sentence. It just takes longer.

‘They Are Afraid of What’s Coming’

A Mother Reflects on the Anniversary of Her Son's Double Life Sentence
Julia Tourianski Founder of Brave The World stands with Lyn Ulbricht during Porcfest.

Quite a few luminaries and entrepreneurs within the cryptocurrency environment spoke out against Forrest’s decision after the sentencing. Many of them are continuing to assist the Ulbricht family through the appeal process to this day. Supporters of Ulbricht still don’t understand how a man who didn’t commit any violent crimes could spend the rest of his life in jail.

“This is not the first time we have seen the assumed power structures cripple a peaceful individual to his knees, an individual forced to plead with the same entity that severed him from a society he wished to, and did, improve — And it will not be the last,” Julia Tourianski Founder of Brave The World told me the day he was sentenced.

Cody Wilson, the creator of Dark Wallet and the founder of Defense Distributed, the manufacturer of the world’s first 3D printable gun the Liberator, explained to me during a phone interview after the sentencing.  

They gave Noriega 25 years, and they had to send the Marines in after him. All the great drug lords of the past didn’t get double life sentences. They are going to put this kid away for double life? Give me a break. That just shows you how afraid they are of what’s coming.     

Awaiting the Appellate Court Ruling  

Four months later after the sentencing, Lyn Ulbricht almost died due to an ailment called Takotsubo cardiomyopathy, otherwise known as Broken Heart Syndrome. Mrs. Ulbricht details that this heartbreak can also affect the younger generation as there are 2.9 million American children with parents who are incarcerated. “Over two-thirds of these parents — like Ross — are non-violent, mostly drug offenders,” explains Mrs. Ulbricht.

I never dreamed I’d be hoping and praying for our son to have a chance at a 20-year prison sentence, but that’s where this has brought me and my family. At least with that, Ross would have some life left.

“Please keep Ross in your thoughts and prayers as we wait for the ruling of the appellate court,” Mrs. Ulbricht concludes.

What do you think about Ross Ulbricht’s double life sentence? Do you think the judge’s decision was excessive? Let us know your thoughts in the comments below.


Images via Shutterstock, Getty, and the Ulbricht family. 


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Bolivian Authorities Arrest 60 Cryptocurrency Promoters

The Bolivian Financial System Supervision Authority ASFI arrested 60 cryptocurrency promoters last week. According to a statement published by the ASFI, in which it refers to bitcoin and several altcoins, the arrestees were carrying out training activities relating to investments that have characteristics of multilevel schemes. The agency also indicated it will track down Bolivians promoting Bitcoin online.The only thing these people are doing is taking advantage of the population and deceivi

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Baseball on the Blockchain One Fan's Quest to Merge Two Passions

Could blockchain solve problems for America’s pastime Tech enthusiast Josh Metnick gives the idea an epic at bat.nSource

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The Crypto Show with Dr. Brian Goss Live at The Las Vegas BTC Meetup

On tonight’s episode of “The Crypto Show,” Danny goes to Las Vegas to the local Bitcoin meetup, where we interview Brian Goss, radiologist, former member of the Bitcoin Foundation, and all-around tech and science enthusiast. We get his very informed and insightful opinions on all sorts of topics, such as the block-size issue, the current run-up in crypto prices, his view of altcoins, and the future of Bitcoin and the crypto space at large. We flow in and out of other topics as well, but the discussion is very interesting, enlightening, and surprisingly coherent for its spontaneity.

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A New Bitcoin Improvement Proposal Aims to Compromise

As the price of bitcoin settles down many bitcoiners are now concentrating on the scaling compromise proposed at the Consensus event held last week. Now a few bitcoin developers have decided to work on Segwit-2MB proposals that try to adhere to each side of the debate.

Also read: Japan’s Bitpoint to Add Bitcoin Payments to 100,000+ Stores

The Compatibility-Oriented Omnibus Proposal

A New Bitcoin Improvement Proposal Aims to Compromise It is still hard to envision that everyone in the bitcoin community will be pleased with a compromise. There are still some bitcoin proponents who vehemently oppose Segwit, and then there are those who fully disagree with a 2MB hardfork. On May 29 a developer named Calvin Rechner submitted a new bitcoin improvement proposal (BIP) that aims to cohere to the recent Barry Silbert scaling concept.

“This proposal is written under the assumption that the signatories to the Consensus 2017 Scaling Agreement are genuinely committed to the terms of the agreement, and intend to enact the updates described therein,” Rechner’s BIP details.

This document describes a virtuous combination of James Hilliard’s ‘Reduced signalling threshold activation of existing segwit deployment’, Shaolin Fry’s ‘Mandatory activation of segwit deployment’, Sergio Demian Lerner’s ‘Segwit2Mb’ proposal, Luke Jr’s ‘Post-segwit 2 MB block size hardfork’, and hard fork safety mechanisms from Johnson Lau’s ‘Spoonnet’ into a single omnibus proposal and patchset.

UASF and a 2MB Hard Fork Deployment in Six Months

Rechner explains that Shaolin Fry’s UASF is included so the existing Segwit deployment can be activated without creating a new release. Following the UASF implementation, the BIP explains that a 2MB hard fork deployment will occur six months after Segwit activation.

“The intent of this proposal is to maintain full legacy consensus compatibility for users up until the hard fork block height, after which backwards compatibility is waived as enforcement of the hard fork consensus ruleset begins,” details Rechner.

‘A Possible Win if the Community Will Accept It’

Following Rechner’s BIP submission, bitcoiners on social media and forums discussed the recent proposal. Throughout the conversations concerning the new BIP, a good portion of people seemed to like the idea. Some explained the reason they supported this proposal is because it includes UASF and the block size increase has safety nets in place to avoid divergent consensus.

“The Spoonnet-based improvements need clarification IMO, but otherwise it looks like a possible win if the community will accept it,” explains bitcoin developer Luke Jr. “Provided there is reasonable consensus from the community, a soft-hardfork (aka MMHF aka Spoonnet) can be theoretically made pretty safe. But I’m not sure it can really be ready within six months.”

Even though there still seems to be a lot of people hell bent towards not compromising at all, there are definitely signs of people looking to find the right compromise. It’s not certain this new BIP will be taken further, but it shows the growing trend to find consensus is important to most people from both sides of the debate.

What do you think about Calvin Rechner’s new proposal? Do you think the bitcoin community can find a compromise? Let us know what you think in the comments below.


Images via Shutterstock, and Pixabay.  


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Japan’s Bitpoint to Add Bitcoin Payments to 100,000+ Stores

Japan's Bitpoint to Add Bitcoin Payments to 100,000+ Stores

Bitpoint has recently partnered with Peach Aviation to provide bitcoin payment tech to the company, and now plans to do the same at “hundreds of thousands of Japanese retail outlets.”

Also read: Bitcoin to Be Accepted at 260,000 Stores in Japan by This Summer

From Peach Aviation to 100,000+ Stores

Japan's Bitpoint to Add Bitcoin Payments to 100,000+ StoresPeach Aviation Ltd announced last week that it will be the first Japanese airline to accept bitcoin for tickets. Peach is Japan’s first Low-Cost Carrier (LCC) and is majority owned by the country’s largest airline, All Nippon Airways Co. Ltd (ANA).

To accept bitcoin, the low-cost airline has partnered with Bitpoint Japan Co, a bitcoin exchange and payments startup founded on March 3, 2016. In addition to allowing Peach to accept bitcoin for flight tickets, the companies are working together to add bitcoin Japan's Bitpoint to Add Bitcoin Payments to 100,000+ Storespayment options to souvenir shops, restaurants, and hotels at travel destinations. Furthermore, “we will jointly install bitcoin ATMs where customers can withdraw cash from bitcoin,” their partnership agreement reveals.

On Monday, Bloomberg reported that Bitpoint is “planning to give hundreds of thousands of Japanese retail outlets the ability to accept the digital currency.” The company’s president, Genki Oda, said, “We’re holding discussions with a retail-related company,” adding that:

We’re also talking to a big convenience store operator about using it [bitcoin] … By going through a company providing payment terminal services to shops, we have the possibility of increasing its use at one stroke. It’s easier than talking to lots of individual retailers.

Japan's Bitpoint to Add Bitcoin Payments to 100,000+ StoresBitpoint currently has ties with several retailers and plans to expand that number, Oda told the publication. The aim is to promote the use of bitcoin in retail stores instead of as a speculative investment, he detailed.

Oda also runs Bitpoint’s parent company, Remixpoint Inc., a publicly-traded conglomerate with a market value of about 21 billion yen ($189 million).

400,000+ Stores Could Accept Bitcoin

Japan's Bitpoint to Add Bitcoin Payments to 100,000+ StoresSince April 1, when the Japanese government started recognizing bitcoin as a legal method of payment, a slew of Japanese companies have started considering accepting bitcoin. The first major retailer to do so following the government’s move was Bic Camera, one of the country’s biggest electronics retailers. The company partnered with Japan’s largest bitcoin exchange by volume, Bitflyer, to accept bitcoin.

Also in April, another bitcoin exchange, Coincheck, announced that it had been working with Recruit Lifestyle to bring bitcoin payments to over 260,000 stores by this summer. Claiming to hold 99% of the bitcoin payment market share, Coincheck said that about 5,000 stores already accept the digital currency using its payments system.

Japan's Bitpoint to Add Bitcoin Payments to 100,000+ StoresThen last week, Bitflyer CFO, Midori Kanemitsu, independently told Nikkei that the number of stores accepting bitcoin “is expected to rise to 300,000 or so in 2017.”

If Kanemitsu’s estimation is added to Monday’s announcement by Bitpoint, then the total number of stores that could start accepting bitcoin soon could rise to 400,000+.

Do you think Bitpoint will successfully add bitcoin payments to 100,000+ stores? Also, how many stores do you think will accept bitcoin in Japan this year? Let us know in the comments section below.


Images courtesy of Shutterstock, Bic Camera, Peach Aviation, Bitflyer, Bitpoint, and Remixpoint


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Chinas Biggest Exchanges to Add Ethereum, Other Altcoins as Demand Surges

As altcoins continue to gain popularity throughout the world, Bitcoin exchanges in China are also…nThe post China&8217s Biggest Exchanges to Add Ethereum, Other Altcoins as Demand Surges appeared first on Bitcoinist.com.n

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Use of Bitcoin in Ecuador Continues to Grow Despite Government Ban

Use of Bitcoin in Ecuador Continues to Grow Despite Government Ban

Before issuing their own digital currency, Ecuador banned all others including bitcoin back in July 2014. However, today bitcoin’s use continues to grow in the country.

Also read: Bitcoin’s Price Correction Called in Advance by Analyst

Bitcoin Banned in 2014

Use of Bitcoin in Ecuador Continues to Grow Despite Government BanAs part of a reform to the country’s monetary and financial laws, Ecuador banned bitcoin and other digital currencies in July 2014. The then-President Rafael Correa, who served from 2007 to 2017, introduced the bill that made bitcoin illegal and signed it into law.

This law demands Bitcoin businesses “shut down their operations immediately.[…] Those who defy the ban will face prosecution, and all bitcoins circulated and assets in bitcoin trades face confiscation,” Panam Post reported at the time.

State-Run Digital Currency

Use of Bitcoin in Ecuador Continues to Grow Despite Government BanPart of the aforementioned law calls for the creation of an Ecuadorian state-issued digital currency backed by the assets of the Ecuador’s Central Bank (BCE).

Soon after banning bitcoin, the government rolled out its own digital currency, called Dinero Electrónico. It is pegged one-to-one to the US dollar, which is the country’s official currency.

However, Ecuador’s private banks did not have confidence in the central bank’s electronic money system. Julio José Prado, President of the Association of Private Banks (ABPE) said at the time:

We cannot at this point support any financial program that is administered by the BCE since we have no confidence that it is secure.

Alexandra Veloz is an attorney based in Quito, the capital of Ecuador, and a member of the Ecuadorian Bar Association. She is currently the legal counsel for the Antigua Report. Referring to the state-run digital currency program, she said last week that “the new system has garnered plenty of criticism, and adoption from banks and customers has been limited at best.”

Use of Bitcoin Continues in Ecuador

Regarding the prohibition of bitcoin and other cryptocurrencies, Veloz explained that:

The prohibition, however, does not ban digital currency outright.[…] Ecuadorian officials have neglected to punish defiant bitcoin use.

Use of Bitcoin in Ecuador Continues to Grow Despite Government BanShe noted that the government’s move was “more precisely, a monopoly privilege: the Ecuadorian state has the exclusive power to put its own digital money into circulation via the central bank.”

Despite the government making bitcoin illegal, its use has not halted in Ecuador, Veloz shared. There are buyers and sellers in the country who list themselves on Localbitcoins.com and bitcoin can also be purchased via Paypal like other online purchases, the attorney detailed. At press time, the cost of a bitcoin in Quito on the Localbitcoins market carries at least a $200 premium. Veloz added:

A small number of businesses have also taken the risk of establishing bitcoin as an alternative for payment. The national taxation and invoicing system do not integrate these transactions, but they remain an available option.

The Ecuadorian Bitcoin community even gathered to celebrate Bitcoin Pizza Day on May 22.

Use of Bitcoin in Ecuador Continues to Grow Despite Government Ban
Ecuadorian Bitcoin community (Photobitcoinecuador.org)

Do you think the Ecuadorian government will allow Bitcoin to thrive? Let us know in the comments section below.


Images courtesy of Shutterstock, Payments Views, Ecuador’s Central Bank, Localbitcoins, and Bitcoinecuador.org


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