Judge Orders Craig Wright to Physically Appear in Florida Lawsuit

Craig Wright, the notorious Satoshi Nakamoto claimant, must appear in court on Monday or be held in contempt. The Florida court granted a motion to compel on June 14, mandating Wright to provide a list of all the bitcoin addresses he’s owned prior to December 2013.

Also Read: The Blind Trust Described in the Kleiman vs. Wright Lawsuit Is a Real Head-Scratcher

Craig Wright Must Appear in Florida Court on Monday

A Southern District Court of Florida judge has ordered Craig Wright to appear in Florida on Monday, June 17 or be held in contempt of court. Three days ago, news.Bitcoin.com reported on the barrage of developments in the Kleiman vs. Wright lawsuit. Wright had described a very complex method of splitting keys using a form of Shamir’s Secret Sharing (SSS) algorithm into a blind trust.

Judge Orders Craig Wright to Physically Appear in Florida Lawsuit
Craig Wright, the man who claims to be Satoshi Nakamoto, must appear in court on Monday in Florida.

The lawsuit started last year in February as the representatives of the now deceased Dave Kleiman believe his inheritance was misappropriated by Wright. Last month Wright was ordered to produce a list of all the bitcoin addresses he owned as of December 2013. However, Wright hasn’t been so forthright with providing these addresses and has explained to the court that methods used in the so-called blind trust make it complicated for him to obtain.

“Dr. Wright does not know the public addresses of the bitcoin held by the trusts (i.e., the bitcoin mined by Dr. Wright in 2009 after block 70, through 2010),” Wright’s attorneys detailed last week.

Judge Orders Craig Wright to Physically Appear in Florida Lawsuit

Then on June 14, the court handed down a motion to compel, which means the plaintiffs found Wright’s prior discovery responses insufficient. The motion to compel tries to force him to answer by using the court as leverage so he will produce his bitcoin address documentation. Stephen Palley, a lawyer who comments frequently on cryptocurrency cases, explained on Twitter that he believes sanctions are coming if Wright doesn’t comply. “Listen, I have no idea who Satoshi is — I can tell you that the court isn’t buying what this guy is selling though and is creating a strong incentive to settle,” Palley added.

Judge Orders Craig Wright to Physically Appear in Florida Lawsuit

Deciding Whether Sanctions Are Warranted

The latest motion gives Wright much less wiggle room as far as being non-compliant is concerned. Being held in contempt could be a punishable offense or make matters worse for his defense. Furthermore, Wright has also been ordered for both a show and cause hearing and a second deposition on June 28. The order on the plaintiff’s motion to compel uses some strong arguments against Wright’s recent blind trust description involving complex encryption and the SSS algorithm. For instance, the order opens with an in-depth description of encryption and notes that the technique has been used since the time of Julius Caesar. Moreover, it highlights that Wright swore that the encrypted file that contains the public addresses and private keys to the bitcoin he mined requires a combination of himself and the blind agreement’s trustees in order to open the SSS algorithm.

Judge Orders Craig Wright to Physically Appear in Florida Lawsuit

The Kleiman estate wants to compel Wright to comply or they will “seek sanctions for his failure to do so.” The plaintiffs then describe how the SSS algorithm works and how Wright conceded to participate voluntarily in this system, which means he should have some basic understanding of the keys he possesses and the members of the blind trust in order to obtain the funds. The motion to compel order states:

[Wright] has not explained why he cannot obtain and has not obtained, the necessary keys from these third parties. At this point, the record before the Court fails to demonstrate that Dr. Wright cannot through reasonable diligence comply with the Court’s March 14th Order. The Court will allow the parties to develop a full evidentiary record before it decides whether sanctions are warranted.

Judge Orders Craig Wright to Physically Appear in Florida Lawsuit
Some people believe the Kleiman vs. Wright case will produce answers to whether Wright is who he claims to be.

The discussion about Wright’s case has been making the rounds on crypto Twitter and many are curious to see if the case will open up more of this mysterious story. A few digital currency enthusiasts think, however, that Wright’s disciples will believe he is Satoshi no matter how the case turns out.

Those who don’t trust Wright’s story and think he’s a charlatan are inclined to presume the case may expose him. According to the latest motion to compel, Wright must be physically present in Florida by Monday and explain why he cannot provide a list of addresses. Failure to comply with any of the aforementioned court requests will have consequences either way.

What do you think about the recent developments in the Kleiman vs. Wright lawsuit? Let us know what you think about this subject in the comments section below.


Image credits: Shutterstock, Court Listener, Pacer, Twitter, and Pixabay.


Want to create your own secure cold storage paper wallet? Check our tools section. You can also enjoy the easiest way to buy Bitcoin online with us. Download your free Bitcoin wallet and head to our Purchase Bitcoin page where you can buy BCH and BTC securely.

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Markets Update: Crypto Prices Surge After Last Week’s Pullback

Digital currency markets have regained some of the losses they endured last week, with the entire cryptoconomy now valued at $275 billion this Saturday. Most cryptocurrencies are up in value between 2-8% today but global trade volumes have tapered off with only $63 billion swapped in the last 24 hours.

Also read: Bitcoin.com’s Local Bitcoin Cash Marketplace Is Now Open for Trading

Digital Asset Markets See Fresh Gains

Cryptocurrency markets have been all over the place lately, giving enthusiasts and traders constant surprises. Most markets have seen decent gains after last week’s slump brought most coins down to foundational support. This Saturday, June 15, bitcoin core (BTC) is trading for $8,791 per coin and has a market valuation of around $156 billion. BTC markets are up today around 4.4% and up over 10% for the last seven days.

Markets Update: Crypto Prices Surge After Last Week's Pullback
Top 10 cryptocurrencies by market cap on Saturday, June 15, 2019.

The second largest market cap belongs to ethereum (ETH) which is priced at $265 per unit. ETH has gained 3.3% this Saturday and roughly 7.6% for the week. Ripple (XRP) is trading for $0.40 per coin and has a market cap of about $17 billion. Lastly, litecoin (LTC) is up 5.2% today and trading for $135 per LTC. Additionally, the market price of LTC has gained 17.4% over the last seven days.

Bitcoin Cash (BCH) Market Action

Bitcoin cash (BCH) is up today around 2.4% and 6.4% for the entire week. One BCH is swapping for an average of $419 at the time of writing and the market capitalization is worth $7.49 billion. The top exchanges today swapping the most BCH include Huobi Korea, Coinbene, P2pb2b, Hitbtc, and Digifinex. The top trading pair with BCH today is tether (USDT), capturing 46.6% of all trades. This is followed by BTC (32.5%), USD (10.2%), KRW (5.1%), and JPY (1.57%). Both the EUR and ETH pairs have increased but the Korean won (KRW) paired against BCH has grown significantly this week. Right now BCH is the sixth most traded coin as far as global volume is concerned. Bitcoin cash has about $1.66 billion in global trade volume in the last 24 hours.

Markets Update: Crypto Prices Surge After Last Week's Pullback
BCH on Saturday, June 15, 2019.

BCH/USD Technical Indicators

Today the 4-hour BCH/USD chart on Kraken indicates that BCH bulls have managed to surpass resistance at the $400 mark. Currently, most oscillators are showing neutral signs at the moment as the Relative Strength Index (RSI) hovers around ~62.42, which is closer to overbought conditions. The two Simple Moving Averages (SMA), both long term (200 SMA) and the short term (100 SMA) trendlines, have crossed paths once again with the 100 SMA above the long term trendline.

Markets Update: Crypto Prices Surge After Last Week's Pullback
BCH/USD on Kraken – Saturday, June 15, 2019.

This would indicate that the path toward the least resistance, for the moment, is in the bulls’ favor and most moving average indicators show buy signals. The Ichimoku Cloud (9, 26, 52, 26) baseline is currently impartial, while the MACd ~6.65 shows there’s room for more price improvements. Looking at order books shows some strong resistance above the $440 zone and BCH bulls will need to surpass this region. On the backside, order books give a good visualization of some solid foundational support between the $390 price range and the $365 area.

Markets Update: Crypto Prices Surge After Last Week's Pullback
24-hour money flows into crypto – Saturday, June 15, 2019.

The Verdict: Newfound Crypto Market Optimism

The last 48 hours of increased prices have injected some positivity into the community and many wonder if things will remain bullish. Litecoin has done well over the last few weeks and traders believe the recent push is due to the supply cut taking place in August. Moreover, BCH has seen incredible amounts of development over the last few months and programmers have shown off lots of innovative concepts like Cashshuffle, SLP tokens, and Shnorr signed transactions. The price of bitcoin cash and its incredible gains this year have likely been a reflection of ongoing development improvements. Crypto prices this month, in general, are doing a whole lot better than the market performances back in December 2018. This has given people newfound optimism and a sense of relief after the long crypto winter.

Where do you see the price of bitcoin cash and the rest of the crypto markets heading from here? Let us know what you think about this subject in the comments section below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Trading View, Bitcoin.com Markets, and Coinlib.io.


Want to create your own secure cold storage paper wallet? Check our tools section. You can also enjoy the easiest way to buy Bitcoin online with us. Download your free Bitcoin wallet and head to our Purchase Bitcoin page where you can buy BCH and BTC securely.

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Piixpay Lets You Pay Bills and Invoices With Cryptocurrency

Piixpay Lets You Pay Bills and Invoices With Cryptocurrency

If you need to regularly cover fiat payments but prefer to use your digital assets, a platform like Piixpay can be very helpful. The payment provider allows you to use cryptocurrencies to pay invoices, bills and make other recurring payments to recipients that still accept only traditional money.

Also read: Bounty.Cash Pairs Projects With Developers Finding Solutions for BCH

Spend Bitcoin Cash, Make Fiat Payments

To initiate a new payment with Piixpay you have to provide the beneficiary’s name and Iban number. You are required to enter the exact amount in euros, as the platform processes bank transfers in Europe’s single currency. You also need to add a short description of the transaction and an optional reference number.

Then you have to choose the crypto you are going to spend. Piixpay currently supports four major digital coins – bitcoin cash (BCH), bitcoin core (BTC), litecoin (LTC), and dash (DASH) – as well as a stablecoin backed by euros. Est-coins (ESCT) are issued by Piixpay’s operator, Ungaro LLC, and have a redemption value of €1 per coin.

Piixpay has another useful feature called Instafill. It lets you link a crypto wallet address to a bank account. Each time coins are sent to that dedicated address, the payment processor will exchange the cryptocurrency and send the fiat to your bank account. You can also check the status of any payment at all times.

To use the services of the crypto payment platform you have to create an account. You can sign up with a valid email address or use your Facebook, Google, Linkedin, Windows or Yahoo account. Piixpay is registered and licensed in Estonia but it operates in over 100 countries around the world.

There’s a service fee of €1 + 1.75% of the amount for transactions funded with cryptocurrencies. Bank transfers cost €1 for transactions within the Single Euro Payments Area (SEPA) and €40 for outside the zone. The smallest amount you can transfer is 1 euro and each transaction is limited to a maximum of €20,000. You can find more information about all applicable fees on Piixpay’s website.

Do you know other payment platforms similar to Piixpay? Tell us about them in the comments section below.

Disclaimer: Readers should do their own due diligence before taking any actions related to third party companies or any of their affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any third party content, goods or services mentioned in this article.


Images courtesy of Shutterstock.


Do you need a reliable Bitcoin mobile wallet to send, receive, and store your coins? Download one for free from us and then head to our Purchase Bitcoin page where you can quickly buy Bitcoin with a credit card.

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How to Stay Safe When Using Darknet Markets

How to Stay Safe When Using Darknet Markets

If you’re planning to visit a darknet market, you’re either keen to window shop or keen to sample the wares. Whatever your reasons for stopping by, that’s your business and no one else’s. Unfortunately, not everyone shares those civilized ideals. To keep those spoilsports at bay, here’s how to browse darknet markets (DNMs) without leaving a trace.

Also read: New SLP Token Allows You to Transact in BTC But With BCH Fees

Step 1: Don’t Sweat It

If your interest in darknet market extends to becoming a vendor, this guide isn’t for you. For one thing, you should already know this stuff, and for another, you should be following more rigorous opsec. If you’re a casual DNM shopper, however, and aren’t ordering your goods by the pound or kilo, don’t sweat it. The powers that be don’t have the time or resources to pester every single DNM customer. Even when entire marketplaces get compromised, exposing the details of thousands of users who were too lazy to encrypt their comms, it’s rare that anything comes of it.

How to Stay Safe When Using Darknet Markets

If you’re a persistent DNM shopper and the postal service takes note of fragrant packages winging their way to your door, you might receive a ‘love letter’ from the police warning you to cease your activities, or even a knock at the door. Should that occur, don’t be cowed as the feds are unlikely to press charges. Even LE seem to begrudgingly concede that prosecuting victimless misdemeanors is a pointless exercise. Remember, most of this stuff will be made legal within our lifetime. It’s only a crime for a limited time.

Step 2: Configure Tor Correctly

To access the darknet, you’ll need the Tor web browser. It can be downloaded for desktop or for Android. Alternatively, use the Brave or Dissenter browsers, which give the ability to open a Tor window, directly connecting you to the onion router where the world’s finest darknet markets are awaiting your perusal. The Tor Project website contains guides on protecting your privacy when using the darknet. Tor browser will automatically block plugins such as Flash, Realplayer, and Quicktime, which can be manipulated into revealing your IP address, and comes with pro-privacy plugins HTTPS Everywhere and No Script. When configured correctly, Tor will mask your IP address, but it remains your responsibility not to dox yourself by doing dumb stuff on the darknet. Tor’s an internet relay – not a cloak of anonymity and immunity.

How to Stay Safe When Using Darknet Markets

Step 3: Double Check Your Onion Domains

Given that the average onion domain reads something like “7aj5bhidezdbb4ov” (that’s Empire market at the time of publication), it’s easy for a fat finger or phishing link to send you one character astray to a lookalike site that will keep your crypto and despatch the square root of zero to your door. Due to the takedown of darknet news site Deepdotweb earlier this year, there aren’t many reliable clearnet DNM guides left. Dark.fail has done an admirable job lately, but reliance on a single point of failure is risky. Double check all links with those shared by DNM admins on onion forum Dread.

Step 4: Keep It Fresh

Cryptocurrency wallet addresses are like nicknames: they don’t cost a penny and you’re free to use as many as you like. As such, there’s no excuse for recycling handles. Use a unique username and password for every DNM you join – that means a nickname you haven’t previously used anywhere else for anything. The annals of darknet criminology are filled with preventable tales of nickname reuse. Just ask Ross “Frosty” Ulbricht.

Similarly, when you’re sending funds to or from a DNM, create a new wallet address each time. If your crypto wallet app doesn’t let you create a new address, delete it and install one that does. For more tips on how to stay safe on the darknet, check out this week’s Humans of Bitcoin podcast, around the 15-minute mark, in which I discuss the perils of address and nickname reuse with host Matt Aaron.

Step 5: Know Your Vendor

When you log in to a darknet market for the first time, you’re greeted by a cornucopia of beguiling wares begging for your bitcoin. It’s like a magical Willie Wonka tuckshop for grownups. Before you start popping pills into your shopping cart, however, take a close look at the vendor you’re buying from. You wouldn’t make a $300 purchase from an Ebay vendor with zero feedback. It’s the same on the darknet. Most vendors are legit, and have no intention of scamming their customers, but don’t trust – verify by checking their feedback. Bear in mind that a vendor with 100 four-star ratings is significantly more trustworthy than a vendor with five stars and three sales.

How to Stay Safe When Using Darknet Markets

Step 6: Always Encrypt

The first time you try to use PGP (also known as GPG), it’ll take you 15 minutes to install and successfully encrypt your first message to your darknet vendor. The second time will take you five minutes, the third time 60 seconds, and the fourth time you’ll be embarrassed at the thought of having ever communicated bareback on the darknet without PGP. News.Bitcoin.com plans to publish a comprehensive guide to PGP in the near future, but till then, your search engine is your friend. Don’t rely on darknet markets to encrypt on your behalf by ticking the request box upon submitting your order. If the site’s servers get infiltrated by law enforcement, your conversations will be exposed.

There’s another benefit to being au fait with PGP, incidentally: when a vendor begins selling on a new marketplace, as commonly happens, given the short lifespan of DNMs, sharing their public key shows that they are the same entity, and effectively allows them to import the goodwill they’ve accrued elsewhere.

Freedom Thrives on the Darknet

Browsing the darknet is one of the most pleasurable things you can do on the web. It’s an internet free of popups, autoplay ads, cookies opt-ins, trigger warnings, snowflakes, thought police and killjoys. It’s everything the clearnet used to be, with the added bonus that you can buy just about anything with cryptocurrencies such as BTC, BCH, LTC, and XMR. You don’t have to nurse a penchant for the sort of goods the darknet is synonymous with to fire up your Tor browser – you simply need to appreciate the sense of freedom that comes from browsing the web unencumbered. Darknet is love. Darknet is life.

What’s your favorite darknet market? Let us know in the comments section below.


Images courtesy of Shutterstock, and Pixabay.


Disclaimer: Readers should do their own due diligence before taking any actions related to third-party companies, darknet markets, or any of their affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any third party content, goods or services mentioned in this article.

The post How to Stay Safe When Using Darknet Markets appeared first on Bitcoin News.

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New SLP Token Allows You to Transact in BTC But With BCH Fees

New SLP Token Allows People to Transact With BTC, but With Bitcoin Cash Fees

There’s a new Simple Ledger Protocol (SLP) based token called BTC2 that’s backed 1:1 with BTC. People can obtain the BTC2 token using cryptocurrency swapping application Sideshift.ai. With BTC2, you can essentially transact with BTC, but utilize the same network fee (less than a penny) as bitcoin cash transactions.

Also read: Meet the Developer Who Added Schnorr Signatures to Bcash

Introducing BTC2: Where Store of Value meets Medium of Exchange

In January, news.Bitcoin.com reported on the launch of Sideshift.ai, an application that allows users to swap cryptocurrencies between chains. Sideshift AI was created by Andreas Brekken, the CEO of review site Shitcoin.com, and the notorious individual who once held $220,000 worth of BTC on the Lightning Network. Since then, Sideshift AI has improved a great deal and features a wide variety of crypto assets to trade. One asset recently introduced is an SLP-based token called BTC2. The BTC2 token (not to be confused with the BTC fork of the same name) is basically an SLP token built on Bitcoin Cash that’s backed 1:1 with BTC. Sideshift AI is the custodian of the collateralized BTC and Brekken told news.Bitcoin.com that Sideshift.ai is to BTC2 what the firm Tether is to USDT.

New SLP Token Allows You to Transact in BTC But With BCH Fees

If someone wants to purchase BTC2 they need to use Sideshift AI and exchange their BTC for the token. The price of BTC2, of course, fluctuates with the price of BTC and Sideshift AI will redeem BTC2 for BTC at any time. The new token also has a website called Corecash.org which has a slogan that says “Core Cash: Where Store-of-Value meets Medium-of-Exchange.” Core Cash (BTC2) lets you store and transact BTC on the Bitcoin Cash network, the website explains. This proposition gives BTC2 some value as it provides individuals with the means to transact with BTC for less than a penny per transaction.

New SLP Token Allows You to Transact in BTC But With BCH Fees

Sideshift AI Is to BTC2 What Tether Is to USDT

Sideshift AI has released a document that describes how BTC2 shares similarities with USDT. The Omni Layer-issued token USDT is an IOU for USD where Tether holds the actual USD in their bank. “Sideshift AI is the custodian of the on-chain BTC and issues the BTC2 token in return,” the documentation notes. Speaking with news.Bitcoin.com, Brekken said he was excited to launch the core cash token.

New SLP Token Allows You to Transact in BTC But With BCH Fees

“The overwhelming interest in USDT showed us that users would like to use cryptocurrency without being subject to its volatility,” Brekken remarked. “With BTC2, anyone with a Bitcoin Cash SLP wallet can have the security of the most heavily mined blockchain, Bitcoin (BTC), while still being able to transact cheaply with the low fees of the Bitcoin Cash blockchain.” The Sideshift developer added:

While having Sideshift AI as the custodian of one’s BTC adds a counterparty, BTC2 can also open new doors such as earning interest on BTC2. Once Cashshuffle supports SLP tokens, BTC2 holders will be able to store and transact BTC2 with greater privacy than what on-chain BTC offers today.

New SLP Token Allows You to Transact in BTC But With BCH Fees

The release of BTC2 follows the first USD stablecoin issued on the BCH chain called honestcoin (USDH). The new USDH coin was listed on the cryptocurrency exchange Coinex and is backed by USD on a 1:1 ratio. With BTC2, users will get the same effect but with bitcoin core in a similar fashion to the ERC20 token called wrapped bitcoin (WBTC). But being an SLP token, users can store BTC2 on SLP compatible wallets like Crescent Cash, Badger Wallet, Ifwallet, and Electron Cash. The BTC2 token can also be viewed on the Simpleledger.info transaction explorer. At the time of publication, there are 100 BTC2 tokens in circulation and Brekken has told us that minting will take place when more liquidity is needed.

“Sideshift AI is excited to see Coinex launch its USDH token on Bitcoin Cash and is rushing to list USDH,” Brekken added.

What do you think about the BTC2 token built on top of the Bitcoin Cash network using SLP? Let us know what you think about this subject in the comments section below.


Image credits: Shutterstock, Jamie Redman, Twitter, Sideshift AI, Andreas Brekken, and Simpleledger.info.


Are you a developer looking to build on Bitcoin Cash? Head over to our Bitcoin Developer page where you can get Bitcoin Cash developer guides and start using the Bitbox, SLP, and Badger Wallet SDKs.

The post New SLP Token Allows You to Transact in BTC But With BCH Fees appeared first on Bitcoin News.

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Meet the Developer Who Added Schnorr Signatures to Bcash

Meet the Developer Who Added Schnorr Signatures to Bcash

This week news.Bitcoin.com spoke with Jonathan Gonzalez, the blockchain developer who is currently maintaining the Bcash project, a Bitcoin Cash full node written in node.js. Gonzalez explained how he got into Bitcoin Cash development and how he managed to get the Bcash node fully compatible with last May’s fork, which introduced Schnorr signatures to the main chain.

Also read: How to Exchange Your Amazon Gift Cards for Bitcoin Cash

Schnorr Signatures and Bcash

The Bitcoin Cash (BCH) network has a variety of full node implementations that are developed by different programmers. BCH nodes include implementations such as Bitcoin ABC, Unlimited, and Bchd. Last year in May, Purse.io launched an alternative Bitcoin Cash client called Bcash, a BCH protocol node written in node.js. The implementation of the BCH protocol written in node.js can operate as a full node as well as perform Simplified Payment Verification (SPV). Furthermore, it is composed of a wallet backend with BIP44 derivation, a general purpose BCH library, and a mining backend. However, just before the May 2019 upgrade, which added Segwit recovery and Schnorr signatures, Purse announced that they couldn’t maintain the Bcash repository anymore and hoped someone could take over the project.

Meet the Developer Who Added Schnorr Signatures to Bcash
Bcash was introduced to the BCH community in the spring of 2018 and was initially developed by Purse.io.

So Jonathan Gonzalez did just that and all by himself managed to prepare Bcash so it would be fully compatible with the recent upgrade changes. Gonzalez spoke with news.Bitcoin.com this week about how he got into blockchain development, more specifically why he decided to work with BCH, and why he decided to run with the Bcash project.

News.Bitcoin.com (BC): When did you get into developing and how did that gravitate to the cryptocurrency realm?

Jonathan Gonzalez (JG): Early 2016 is when I actually started to write software in a programming language called Clojure. Oddly enough my attention diverted solely towards Bitcoin by way of the Bcoin codebase. I was inspired by the project in the sense that it was an opportunity to actually learn the protocol or design of the system since it was the only structured implementation of the Bitcoin Protocol that I understood.

BC: Why did you decide to work on Bitcoin Cash over another chain?

JG: [This occurred] during the time that I was building a foundation for myself in building out infrastructure projects and learning the Bcoin codebase in 2017. I had no idea about the Bitcoin hard fork up until the 3rd of August when I caught word of it while visiting Purse.io at their office. A month had passed since the visit and there was a big demand for an alternative implementation of the BCH protocol since during that time, there was practically none. Then later, companies like Bitpay, Purse started pursuing using BCH in their businesses. Perhaps the overall decision was circumstantial, nevertheless, I was inspired by the ambition to understand the protocol.

Like all new interests I develop over time, regardless if it’s lucrative or not, I try to the best of my ability to materialize them objectively and till now … [it’s] one of the reasons as to why I always find my way back into BCH.

Meet the Developer Who Added Schnorr Signatures to Bcash
Jonathan Gonzalez is currently maintaining the Bcash repo and has made it compatible with the last upgrade.

BC: You managed to get the Bcash full node implementation up and running after Purse had dropped the project — what made you decide to do that?

JG: I’d accredit that to my pride more than anything. Besides, I use the full node for its API in two services that I utilize daily. I wanted to make sure that if the project were to be disbanded it wouldn’t be due to my lack of interest or efforts.

BC: How did you get the Bcash full node to be compatible with the Schnorr signatures and Segwit recovery upgrade?

JG: The cryptographic library (bcrypto) that Bcash/Bcoin depends on under the hood ported the Schnorr algorithm into the ECDSA/Secp256k1 modules found in the library. Allowing signing and verification functions to be utilized with the Secp256k1 curve. Since there were only modifications to two of the opcodes found in the scripting system (OP_CHECKSIG and OP_CHECKDATASIG), there was no heavy lifting in modifying the stack since there was no change in the transaction portion of the codebase.

Meet the Developer Who Added Schnorr Signatures to Bcash
The open source Bcash full node code and documentation can be found here on Github.

So from there the only requirements for implementing the changes directly involved adding a few additional helper functions to the scripting system that allows the script to distinguish between DER/Schnorr encoded signatures by checking if the Schnorr flag value is set, along with determining whether or not the signature is 64 bytes, since DER and Schnorr differentiate in signature lengths (usually by 6 – 7 bytes).

Now in regards to Segwit recovery, I’ve added a few rules to the input, output script verification which detects whether a witness program is present. Since it’s simply just a recovery mechanism there are no modifications to the SIG_HASHTYPES. Nothing realistically changed in the signature hash so it simply looks for the redeem script to be a witness program and the regular witness program logic was ported from Bcoin. I’d say [Segwit recovery] was the easiest out of the two things to implement for the hard fork spec.

BC: Why do you think Bcash is a worthy node to build over other implementations?

JG: There are tons of interesting features that come along with the design of the codebase. For instance, the wallet is completely segregated from the full node and lives on its own node port. Something that Bitcoin Core hasn’t accomplished yet. Building APIs around the full node and wallet nodes are very simple to get up and running. The documentation found in the docs section of the project is also very descriptive and since it’s Javascript, running a REPL and testing out the libraries in the project makes it easy to understand and create new data structures for anything general purpose. This includes things such as creating scripts/transactions and running a regtest node in REPL. Features such as Neutrino, address/TX indexing have been backported into the full node library as well.

I’d also like to note that the code style found in the project is very clean and easy to understand. These are some things that off the top of my head I’m able to pitch to any developers out there seeking to build out infrastructure, or simply desiring to learn the protocol.

Maintaining the Bcash Repository, and Possibly Adding Future Enhancements Like Merkelix and Avalanche

BC: Do you aim to keep maintaining the Bcash repo?

JG: I do plan on continuing to maintain the project by adding additional protocol proposals to the codebase, along with porting over future hard fork specifications. I’ve recently taken an interest in adding a Schnorr multi-sig proposal branch to the node as well. I’ve been really interested in proposals such as Merkelix and Avalanche so I plan on finishing these features. Maintaining the full node allows me to experiment freely with actual motivation.

BC: Is anyone helping you?

JG: No, no one is currently helping in maintaining, nor downstreaming patches from Bcoin to the project.

I do plan on being involved in more developer meetups showcasing the codebase by demonstrating how simple and easy it is to use the full node for infrastructure projects or general purposes.

Meet the Developer Who Added Schnorr Signatures to Bcash
Bcash includes Schnorr signatures compatible with the current BCH network, Libsecp256k1, an advanced API, Compact Blocks, BIP151, BIP150, and a JSON RPC API.

BC: How do you feel about the current state of Bitcoin Cash (BCH) right now as far as the community and development is concerned?

JG: I’m not sure what to think of the community, but from my impression, I believe there’s definitely support in the developer realm, which otherwise would be nonexistent in Bitcoin. Although I’m not entirely familiar with the things that go on throughout social media, forums regarding BCH. I’m a bit of a loner and don’t have an interest in these sorts of things.

But in regard to development, the greatest facet of Bitcoin Cash is the scheduled six-month hard fork activations. It allows for BIPS/features to be considered as long as there exists a motive, a reason behind the proposals which is, in my opinion, is very innovative and worth paying attention to.

What do you think about Jonathan Gonzalez managing to get Bcash compatible with the last upgrade and maintaining the Bcash project? Let us know what you think about this subject in the comments section below.


Image credits: Shutterstock, Bcash logo, Jonathan Gonzalez, Github, and Twitter.


Are you a developer looking to build on Bitcoin Cash? Head over to our Bitcoin Developer page where you can get Bitcoin Cash developer guides and start using the Bitbox, SLP, and Badger Wallet SDKs.

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Bounty.Cash Pairs Projects With Developers Finding Solutions for BCH

Bounty.Cash Meets Projects With Developers Finding Solutions for BCH

Using bounties to seek solutions to various problems has proved to be a working approach for many projects in the crypto industry. Bounty.Cash is a platform that matches businesses and entrepreneurs with developers who are ready to solve issues with apps and features and get rewarded with bitcoin cash.

Also read: Buy From Home Depot and Walmart With Bitcoin Cash Through Alagoria

Outsource a Problem, Pay With Bitcoin Cash

Bounty.Cash is a service that allows you to set bitcoin cash (BCH) bounties against bugs and vulnerabilities in open-source features and services. If your project needs to outsource the solution to a problem, you can place a bounty stating how much you are willing to pay for the completion of the task. At the same time, other users can also pledge additional amounts to the resolution of someone else’s bounty. Developers, on the other hand, will be paid directly in BCH when they fulfill the requirements.

Bounty.Cash Pairs Projects With Developers Finding Solutions for BCH

Bounties are classified in several categories – Apps and Features (bounties for new applications or features in existing apps), Services and Libs (bounties for new services and libraries for developers), Bugs (bounties for bug fixes in apps and libraries), Vulnerabilities (bounties for finding weaknesses in applications or services), and Misc. The last category contains ‘other bounties,’ for example for tutorials, videos, and graphic design.

Each bounty is listed with its title, a short description, fulfillment conditions, the user who created it, the pledged amount in dollar equivalent and its status which indicates if it is still open or has been completed already. To place a bounty you need to register with Bounty.Cash, providing a valid email address, a password for your account, a nickname and a wallet address. This BCH address will be used for rewards in case you complete a bounty yourself.

The online platform operates on a goodwill basis and relies on the honesty of its users on both sides. For instance, those who place bounties are not obliged to pay them in any way. That means when a completion of a bounty is questionable, Bounty.Cash will not necessarily intervene. However, users can be banned from the website in certain situations and its administrators can block attempts to abuse the system.

What other crypto bounty platforms do you know? Tell us in the comments section below.

Disclaimer: Readers should do their own due diligence before taking any actions related to third party companies or any of their affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any third party content, goods or services mentioned in this article.


Images courtesy of Shutterstock.


Are you a developer looking to build on Bitcoin Cash? Head over to our Bitcoin Developer page where you can get Bitcoin Cash developer guides and start using the Bitbox, SLP, and Badger Wallet SDKs.

The post Bounty.Cash Pairs Projects With Developers Finding Solutions for BCH appeared first on Bitcoin News.

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Venezuela Issues 50,000 Bolivar Bill Amid Persistent Hyperinflation

Venezuela Issues 50,000 Bolivar Bill Amid Persistent Hyperinflation

Venezuelans are used to their currency costing less than the paper it’s printed on. Economic misfortunes and political upheaval place their country at the bottom of all inflation charts, year after year. The latest incarnation of the national fiat, Bolívar Soberano, has succumbed to the illness of all previous emissions – rapid depreciation. The government has just announced it’s releasing a 50,000 bolivar banknote. This is a little more than the minimum monthly wage but it can hardly buy you a decent meal in Caracas.

Also read: Hotels and Realtors in Venezuela’s Historic Cumaná City Accept Bitcoin Cash

Central Bank Circulates New Bills With Higher Denominations

Banco Central de Venezuela has printed new banknotes of 10,000, 20,000 and 50,000 bolivar denominations which began circulating Thursday, June 13. With their release, the financial institution aims “to make the payment system more efficient and facilitate business transactions,” according to a statement published this past Wednesday. The bills, which will be introduced gradually, come to meet the requirements of the national economy, the bank noted.

Venezuela Issues 50,000 Bolivar Bill Amid Persistent Hyperinflation

The new emission comes less than a year since the socialist government announced the launch of a new redenominated bolivar, cutting five zeros off the national currency. Bolívar Soberano (VES), or “sovereign bolivar,” replaced the highly inflated “strong bolivar,” Bolívar Fuerte (VEF), which had itself replaced the original bolívar in 2008, cutting three zeros. Last year’s monetary reform was meant to ease cash shortages and restore confidence in the Venezuelan fiat money.

Authorities claimed VES will be anchored to the national cryptocurrency, the Petro, which is an oil-backed state-issued digital coin. Back then President Nicolás Maduro stated that “The economic reconversion will start on August 20 with the circulation and issuance of the new Sovereign Bolivar … a productive, diversified and sustainable economic model must definitely be born,” he insisted.

Venezuela Issues 50,000 Bolivar Bill Amid Persistent Hyperinflation
Empty supermarket shelves in Caracas

Inflation Expected to Hit 10,000,000% in 2019

However, as the economic conditions continued to deteriorate on the backdrop of escalating political clashes between government and opposition forces, the depreciation of the bolivar, which was the main reason for the redenomination, continued. As a result, inflation in the country exceeded 900,000% in 2018, according to the International Monetary Fund. Even the calculations of the Venezuelan central bank produced a six-digit figure – over 130,000%. And according to the CIA World Factbook, the CPI-based annual inflation rate has reached more than 800,000% in May 2019. The IMF projects that inflation will hit 10,000,000% this year.

Venezuela Issues 50,000 Bolivar Bill Amid Persistent Hyperinflation

When Bolívar Soberano was introduced in August 2018, the 500 bolivar bill was the highest denomination note. The largest 50,000 bolivar bill now equals a little over $8. That’s not a serious amount of money, even in a country where a large portion of the population lives in poverty and deprivation. The minimum monthly wage in Venezuela is set at 40,000 bolivars, or around $6.50. According to Trading Economics, it’s been raised twice this year and five times in 2018. Data compiled by Expatistan shows that a combo meal in a fast food restaurant will cost you around 25,000 sovereign bolivars, or $4. That’s almost two thirds of the minimum monthly salary.

Opposition Blames Regime for Inability to Control the Legal Tender

According to the Venezuelan opposition, quoted by The Guardian, the annual inflation rate reached a high of 1.7 million percent earlier this year. President Maduro’s administration has been blaming his country’s woes on U.S.-led sanctions and economic blockade, while his political opponents say it’s the government’s incompetence that has failed the oil-rich South American nation. Commenting on the release of the new banknotes, Juan Guaidó, opposition leader and self-proclaimed acting president of Venezuela, stated on Twitter:

The regime is unable to control the currency of legal tender: At the border, the Colombian peso is used; in the central region, the dollar or the euro; and in the south, gold. The dictator has shown that he does not govern and exhibits his total disconnection from reality.

“They took eight zeros off the bolivar, and it is no longer strong or sovereign. They invented an economic war, and they lost it,” added Guaidó who is a member of the social-democratic Popular Will party and was elected President of the National Assembly in January of this year. Shortly after his election as the speaker of parliament, he took a presidential oath as an interim president during a protest rally. So far, Guaidó has been recognized as the head of state by almost 60 countries including the U.S. and its partners in Western Europe. Meanwhile, traditional allies of the government in Caracas, such as Russia, China, Iran, and Turkey, voiced their support for Nicolás Maduro.

Venezuela Issues 50,000 Bolivar Bill Amid Persistent Hyperinflation
Juan Guaidó

The inability of the executive power to tame inflation, which Juan Guaidó was talking about, has pushed Venezuelans to seek alternatives to the bolivar. Beside convertible fiat currencies such as the dollar and the euro, many businesses and ordinary people have also found them in decentralized digital coins. Bolivar’s persistent and rapid depreciation catalyzed the adoption of cryptocurrencies such as bitcoin cash (BCH) in everyday financial interactions. In the past couple of years, businesses accepting BCH have exceeded 200, according to the Marco Coino app but the actual number could be much higher as many more small merchants outside Caracas are adding bitcoin cash to their payment options.

What’s your take on the economic and political situation in Venezuela? Do you expect fiat hyperinflation and adoption of cryptocurrencies to continue to grow? Share your thoughts on the subject in the comments section below.


Images courtesy of Shutterstock.


Are you looking for a secure way to buy Bitcoin online? Start by downloading your free Bitcoin wallet from us and then head over to our Purchase Bitcoin page where you can easily buy BCH and BTC.

The post Venezuela Issues 50,000 Bolivar Bill Amid Persistent Hyperinflation appeared first on Bitcoin News.

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Review: The Corazon Trezor by Gray Is Made of Titanium

Hardware wallets don’t have to look beautiful – they just have to work. The Corazon by Gray is a silver titanium device that happens to deliver on both counts. USB hardware has never looked or felt so good in your hand. All that brushed metal and angular chic comes at a price though, which in the case of this Trezor on pretty pills starts at $695.

Also read: How to Exchange Your Amazon Gift Cards for Bitcoin Cash

The Corazon Will Steal Your Heart But Hurt Your Wallet

Owning a designer hardware wallet presents something of a quandary. Like a tattoo in an intimate place, it should only be seen by a trusted few, but after eyeballing your 12th vodka shot, you want to show everyone. A hardware wallet is a special thing you should keep to yourself, but the Corazon doesn’t make that easy. This is the sort of gadget you could wear around your neck with a fat platinum chain. This isn’t a 90s hip-hop video though and if you walk the streets wearing the Corazon as a fashion accessory you’re gonna have a bad time.

Review: The Corazon Trezor by Gray Is Made of Titanium

As a reviewer, I have no option but to broadcast my ownership of crypto wallets, which include a Cobo Vault, Coldcard, Keepkey, Cool Wallet, Ellipal and several Ledgers. I’ve got a drawer full of them, complete with an assortment of recovery seed phrases for devices whose pin numbers I’ve almost certainly forgotten. My protection against being robbed is that each device holds a few hundred sats at most, added for testing purposes. When one satoshi achieves parity with the dollar, my collection of crypto dust will finally make me a target, but until then I’m not worth bloodying your wrench on.

Unless, that is, anyone were to covet my Corazon for its comeliness rather than its contents. Housed in an “aerospace grade” titanium case that’s been CNC machined by Gray is a Trezor Model T, one of the most popular hardware wallets on the market. The Corazon Titanium reviewed here retails for $695, rising to $995 for the limited edition Stealth or $1,495 for the even more limited edition Gold.

Review: The Corazon Trezor by Gray Is Made of Titanium
Lines you could linger over for days

What Makes the Corazon Tick

The Corazon comes in an attractive black box, with twin security seals ensuring it hasn’t been tampered with. Inside, the device nestles snugly, bidding you to reach out and prise it from its foam padding. Brace your wrist for the strain the moment your hand wraps around the hardware wallet. For a small gadget, the Corazon is surprisingly heavy – but reassuringly so. It’s no less than you’d expect from Gray, a luxury tech company best known for its premier accessories for iPhone, Samsung, and Macbook.

A second layer in the box peels back to reveal a quick-start guide and recovery cards, and below that, a third layer containing the finest looking USB cord you ever did see. Running its sinewy black and silver ribbed cord through your fingers, you feel feelings for a computer cable you didn’t realize were possible.

Once connected to my laptop, the Corazon is detected and I’m directed to Trezor’s setup page. There I’m prompted to install Trezor Bridge, software that will enable the web app to communicate with the Model T via my Mac. The file takes up less than 10 MB, and installs easily. Upon refreshing the setup page on the Trezor website, I’m prompted to click a button and the device’s firmware begins installing. The process takes under a minute, whereupon the wallet automatically restarts.

Review: The Corazon Trezor by Gray Is Made of Titanium

The Corazon in Action

Despite having reviewed close to a dozen wallets, Trezor’s wares have never crossed my threshold. The Corazon is the first Trezor I’ve set up, and the process proves easier than that of any wallet I’ve used to date. It’s rare in my experience for a wallet to work at the first time of asking, but be it due to good luck or good UX, the Corazon performs perfectly. Credit for this must go to Trezor, whose responsive touchscreen paired with an intuitive web interface is noob-proof. In terms of security, the Trezor Model T is equivalent to most of the consumer devices on the market; any physical exploit that a skilled hacker could leverage falls under the banner of “hypothetical,” unless you’ve got Mossad on your tail, in which case you should probably be fearing for your life, not your crypto.

Review: The Corazon Trezor by Gray Is Made of Titanium
Challenge accepted

The list of cryptocurrencies the Corazon Model T holds is extensive. A BTC wallet is automatically installed when you download the latest firmware, but adding other coins is as simple as selecting from a dropdown menu in Trezor’s web application, whereupon an address will be generated and a corresponding account added to your dashboard. I create a BCH address and fire over 0.1 BCH that I’ve got rattling around in a Bitcoin.com Wallet. It shows up in less than five minutes, with the BCH and USD values clearly displayed in the dashboard.

Review: The Corazon Trezor by Gray Is Made of Titanium
Yes, I’m sure

In addition to sending and receiving cryptocurrency, the Trezor wallet portal enables you to sign and verify messages using your private key and to connect to Myetherwallet or Mycrypto using your Corazon to serve as your Ethereum network signatory. There’s also the means to exchange currencies directly within the Trezor web app thanks to integration with coin-changing services such as Changelly and Changenow. My 0.1 BCH was matched with a best offer from Changenow, and a quoted bitcoin cash network fee of less than $0.01.

Review: The Corazon Trezor by Gray Is Made of Titanium
Thanks Trezor.

The real worry with the Corazon is that in the event of another crushing bear market, the device could easily wind up being worth more than the tokens you bought at the top and solemnly entombed in the device as your legacy to future generations. If you can invest wisely in cryptocurrency, however, and have enough left over to stretch to the Corazon, it will safeguard your coins while stealing your affections. Just don’t tell the world about it. Owning a Corazon is a love that dare not speak its name.

Review: The Corazon Trezor by Gray Is Made of Titanium

Would you spend $700 on a crypto wallet? Let us know in the comments section below.


Images courtesy of Gray and Trezor.


Disclaimer: Readers should do their own due diligence before taking any actions related to third party companies or any of their affiliates or services. Bitcoin.comis not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any third party content, goods or services mentioned in this article.

The post Review: The Corazon Trezor by Gray Is Made of Titanium appeared first on Bitcoin News.

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