Bitcoin prices rose, users should beware of phishing attacks

Bitcoin prices rose, users should beware of phishing attacks

According to CISCO (Cisco)’s OpenDNSLabs blog said, a bit while currency prices are still increased the risk of bitcoin wallet phishing attacks. And this summer, currency price once rose, the number of users will also increase the attack. Recently, Blockchain.info was a phishing attack, this blog is listed in the production process in a few attacks on domain name.

Most of the attacks are initiated by phishing sites. However, now more and more attackers began to select some intrusion legitimate sites, by modifying the site settings by hosting bitcoin wallet or other related purposes.

Gmail became a target account

There are also some attackers to lock the user’s Gmail account, Google keyword advertising to get them, and then through the SEO (search engine optimization) will fake Blockchain.info account top in search results.

The article also cited several examples of WHOIS domain name registration, the specific process is showed.

OpenDNSLabs IP and domain name classification system can Blockchain.info wallet detect these highly covert attack architecture, intercept these architectures before the new generation of phishing sites.

The following is a typical domain name for Blockchain.info wallet phishing attacks:

Blockchain.info-login-verification-portal-sign-in.blockchain.info.update-com-blockchainupdate-login-attempt-come.dheekshapromoters.com

Phishing attacks continuously

This domain name is generally difficult to detect problems. Those special bitcoin wallet phishing sites are more typical. Therefore, the phishing attacks online wallet temporarily difficult to solve.

Dheekshapromoters.com exposed a large number of phishing sites.

OpenDNSLabs can usually through specific algorithm in the fishing line on the site even before the creation of intercept. But for some new methods of attack, any algorithm defense is in vain.

According to OpenDNSLabs data analysis, Google keyword “how to buy bitcoin” search volume rose once it may lead to currency price fluctuations, extortion software and bitcoin wallet phishing attacks will follow.

The negative effects of currency prices

Visibility, price and bitcoin phishing attacks are inseparable. That is to say, bitcoin prices more likely to trigger an attack. Obviously, the ransomware virus and currency price little contact.

Blackmail software to depend on the number of transmission, rather than bitcoin visibility. Some analysts pointed out that even if the phishing and ransomware virus eventually take the same architecture, sponsors two kinds of attacks will be different. This also explains the reason of false advertising keywords become phishing attacks the main channel.

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Trump appointed bitcoin supporters as the budget director

Trump appointed bitcoin supporters as the budget director

Conservative Republican Senator Mick mulvany? (MickMulvaney) from the United States Laizhou, South Carolina, is a loyal bitcoin enthusiasts. Recently, President elect Trump announced that Mulvaney is responsible for the operation of the office of management and budget (OMB).

Trump said:

OMB Mick, my management team can make the right decision on the US budget, given the federal government’s new responsibilities, and rebuild the confidence of taxpayers!

Mulvaney bitcoin interest began in April 2014, when he publicly expressed in facebook:

Just in a small and medium sized enterprises board, first contact with bitcoin. I know bitcoin has not become the mainstream, or may not become a mainstream concept — but this money is very interesting, it may ultimately affect the dollar and US monetary policy. The meeting also put the concept and Milton bitcoin? (Freedman MiltonFriedman, currency school is one of the representatives of the contribution).

Mulvaney is the first member of Parliament to accept bitcoin donations in the United states. According to the non-profit bitcoin research and promotion center of CoinCenter revealed that he had in October last year questioned the Federal Reserve (FederalReserve) chairman Janet Yellen (JanetYellen)?:

And the popularity of bitcoin is higher, it proves that the public attitude to the Fed’s monetary policy.

In addition, in September this year, Mulvaney and another from Colorado Democratic congressman Jared? Indianapolis (JaredPolis) hosted a bipartisan blockchain caucus. Mulvaney said:

Block chain technology has the potential to reform the financial services sector, the U.S. economy and government services. To participate in this event, I feel very proud.

According to the “mother Jones” reports, Mulvaney believes that the Fed is “the culprit leading to the depreciation of the dollar, inhibition of economic development”. And he said, bitcoin is “not controlled by any government organization”.

This is another sign of the Trump Administration recently bitcoin woo. Last month, Bitpay investors, bitcoin supporters of Peter? (PeterThiel) announced that Theil served as the Trump transition team consultant; Trump also named Stephen, the founder of BreitbartNews (StephenBannon)? Bannon as its chief strategy officer and senior adviser, and Bannon just is a good bitcoiner.

Mike? Nino Ibrahimovic (MikeCernovich) is a passionate supporter of Trump, another of his identity is bitcoin users. He said:

Freedom is a concept, but bitcoin is free. The son of Trump holds bitcoin, which is not surprising.

The seven world center, New York and California are regarded as the most stringent regulatory environment for digital currency area. The Obama administration asked the IRS (IRS) of Double Taxation on the field of digital currency. Financial technology company to interstate operations, the need to comply with the bank’s operating conditions, of course, also including the notorious repute of BitLicense. In the Trump administration, this situation seems to be eased. As in Britain, the United States would adopt the sandbox mechanism, may abolish the double tax, or the establishment of scientific research fund to encourage financial innovation.

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The United States intelligence why Sike bitcoin?

The United States intelligence why Sike bitcoin?

According to the American “Newsweek” reported that the United States Department of defense and intelligence experts in the study of bitcoin and other virtual currencies. They tried to figure out how successful the collapse of bitcoin America’s long-term ability to control financial network, and how to permanently subvert the global financial system.

American foreign policy think tank center for strategic and International Studies (CSIS) senior consultant Juan Zarate? (JuanZarate) and Coinbase consultant team. He said in an interview with “news weekly”, the virtual currency is indeed a new challenge. Virtual currency system and draw further apart the financial system currently has a certain transparency and accountability. The traditional financial system after the past thirty years of precipitation, the main goal is to fight against terrorism, trafficking, money laundering and other types of criminal activities.

FBI black into the bitcoin user computer?

Earlier, the United States government institutions that bitcoin users may be targeted, specific reasons unknown. This view of Zarate is confirmed from the side that bitcoin users (possibly zeihanzhuozei).

It is reported that the revised Rule41 Act allows the Federal Bureau of investigation (FBI) with unilateral authorized black into the world on any computer, and no limit on the number of. This provision led to relevant agencies unlimited power amplification, they in order to tap people’s hidden assets, such as encryption currency, looking for opportunities to tax. The use of Tor network Bitcoiners and therefore on the dark state expressed concern about their privacy.

BitcoinCore developer Peter? Todd (PeterTodd) said, FBI wants to create a “zero degree of privacy, zero security system”.

The fight against terrorism or virtual currency?

The IRS (IRS) to obtain personal data of millions of Coinbase users. Some experts believe that this move will help to promote the bitcoin digital currency to the mainstream. This investigation is based on the “JohnDoe” summons has been approved by the United States court.

Zarate said that the U.S. government is particularly worried about terrorism and other hostile elements to create a powerful virtual currency. They worry that the virtual currency can not be tracked, completely independent of the global banking system.

However, there is no evidence of any enemies of the United States to develop a new type of virtual currency. In recent years, with the development of related technology, the United States government is possible to develop a consistent with the interests of the people of the digital currency, but they always choose to fight any model may involve criminal activities to adopt various methods of virtual currency.

The United States think tank Rand Co cryptographer and mathematician Joshua Barron? (JoshuaBaron) believes that bitcoin and other virtual currency trading books public transparency is too high, it is easy to attract terrorists, criminals and hostile eyes.

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Bitcoin venture company launched in non instant bitcoin cross-border payment services, bitcoin Sino African relations more closely

Bitcoin venture company launched in non instant bitcoin cross-border payment services, bitcoin Sino African relations more closely

Kenya bitcoin start-ups Bitpesa launched a new initiative by connecting Chinese digital currency and Africa, the company has been committed to the African enterprises to use bitcoin to pay Chinese.

Bitpesa Chinese plan has been officially launched this month, the program allows from Kenya, Uganda, Tanzania, Nigeria and Congo users of online payment to its customers in Asia — especially the Africa’s largest trading partner China.

This service Bitpesa successfully without using cash or currency to the dollar as the central employees, distributors or suppliers for payment.

The world bank said in 2016 non trade volume reached an estimated $220 billion, compared to $170 billion in 2013.

Prior to this, although there have been some non encryption project, but did not like Bitpesa directly.

Earlier this year, China bitcoin mining company (Bitman) to the bit, Shenzhen coins look to invest $1 million 600 thousand to provide a bitcoin trading platform for global users, especially those not mature bitcoin market, such as africa.

In September this year, China Bank (BOC) subsidiary company was formally established in Mauritius, the company that has the potential to become the continent’s “blockchain Silicon Valley”.

Bitcoin is also believed to be between China and African countries such as Ethiopia, a medium of exchange, the recent international trading Ethiopia purchase of raw materials has increased significantly. In order to save foreign exchange assets requires cross-border transfers.

Related to this, another bitcoin exchange BitX also has wide service network coverage in Africa, and have direct contact with some Asian countries. BitX’s business coverage including South Africa, Nigeria, Indonesia, Malaysia and singapore.

However, the introduction of regulatory measures of monetary aggregates is a key theme of the African continent is now creating a form of competition. However, most African governments are still wary of digital currency.

For example, the founder of Bitpesa ElizabethRossiello suggested in a recent legal automation application Alliance (CALA) in the blockchain work conference held in Nairobi, Kenya between the regulators and the blockchain participants lack of cooperation.

ElizabethRossiello

However, if Uganda and Nigeria to take action on regulatory and other digital currency bitcoin possibilities, this lack of cooperation may change in the next year, we may see the widening between similar bitcoin services in africa.

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Lightning network how to bitcoin network layer to add privacy?

Lightning network how to bitcoin network layer to add privacy?

Bitcoin is currently not really anonymous. Through the monitoring of the unencrypted P2P network and carries on the analysis to the public block chain, combined with the KYC and AML regulatory policy, it can reveal a lot about who are using bitcoin and for what purpose information.

From the perspective of privacy, this is not what a good thing. For example, perhaps bitcoin users do not want to let others know where you earn money, what or how many to earn; similarly, enterprise also does not wish to disclose their transaction information to competitors.

In fact, bitcoin transaction history can be traced to the interchangeability of all bitcoin also pose a threat. “Tainted” bitcoin value may be lower than other bitcoin, there may even be bitcoin value proposition as currency in trouble.

However, this problem can be improved. One of the most promising solutions is perhaps lightning network. The use of “Sphinx” protocol, lightning network payment will be routed to a similar Tor anonymous network, thus providing privacy and protection of interchangeability.

Recap payment channel and lightning network

Lightning network is fundamentally composed of two-way payment channels, creating a point-to-point network.

The two-way payment channel itself can enhance privacy. For example, Alice and Bob users can open a two-way payment channel, through a private media deals on the channel. Only when the transaction is completed, the channel will broadcast to the final state of the blockchain. Broadcast public transaction information including the total amount of transactions between Alice and Bob, but will not disclose the number of transactions between them. This ambiguity is conducive to the protection of privacy.

Unfortunately, when these two payment channels are connected with each other to create a point-to-point network when there is a disadvantage. Such as Alice to pay the bitcoin through Bob routing to third users of Carol, then Bob will know Alice to Carol for the payment and how much to pay. Although Alice and Carol for the rest of the world as well as the relative privacy, but the privacy for Bob did not exist. If there are other or more intermediaries, not only Bob and Dan — then Bob and Dan will be aware of the transaction between Alice and Carol.

Sphinx

A Sphinx is used to cover all routing data from intermediary solution based on the current network including lightning.

Sphinx is a protocol by academic researchers GeorgeDanezis and IanGoldberg design, used in a point to point network anonymous information broadcast. This solution is put forward for the first time in May 2009, and the first lightning network even bitcoin does not have any relationship. Lightning laboratory OlaoluwaOsuntokun realized that Sphinx can be used, he collaborated with ChristianDecker Blockstream on this protocol was modified to better fit the lightning network.

Sphinx and anonymous communication tool of the famous Tor (onion routing) have many similarities. As with Tor, all data using Sphinx to send the packet can be encrypted, including receiving the IP address. Then this encryption for several times, until you have multiple “encryption layer” (so use “onion” to describe Tor).

Through the use of intelligent encryption techniques, the encryption layer all is applied to each along the route towards the final destination of the packet encryption intermediary can only open a “encryption layer”. This layer will display to the intermediary to the encryption package where to. (compared with Tor, Sphinx by using the improved encryption algorithm, and creates a fixed size data packet routing node in the fuzzy to better position.)

In the lightning network, the P2P network is determined on a path and pack a pay package in encryption layer. In addition to the transmission of information, each intermediary will take some additional data, including the number of charges, and allow all intermediaries to set up a step in the payment chain. (in the lightning network in future versions, it may be through something called the “hornet Hornet” protocol is extended, so as to further simplify the whole process, however, the current network lightning do not need this.)

It is important that all the intermediary only know that they received bits from which channel money and payment which channel to use. The intermediary did not know that he is the first step of the payment chain, intermediate step, or the last step, or perhaps a step to complete the payment. Only the transaction the sender and the receiver will know who sent, who received the transaction transaction.

When the channel is closed, two-way payment channel advantage is very obvious, like eating stimulants as quickly. Despite all of the bitcoin network know the opening of Alice in the network to send Bob lightning during passage of how many coins, but these bitcoin is by 10 times, 100 times or 1000 times the transmission can make nothing of it. In addition, Alice may not even send Bob bitcoin: from Alice to Bob may actually be routed to the Carol payment, or any other people on the network.

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Gold trading transfer to the blockchain, bitcoin can go beyond the gold?

Gold trading transfer to the blockchain, bitcoin can go beyond the gold?

This digital currency bitcoin blockchain based on often considered to be able to become a global hedge assets like gold. In this era of global turmoil, and even gold is not reliable, are likely to be like India confiscated. Some people have begun to think bitcoin can replace gold, because bitcoin in addition to gold reserve and some gold without ability, such as low fees, fast transfer ability, to the center of nature. With the increasing popularity of the use of bitcoin, continue to reduce volatility, gold status has been under threat. So if gold is also using the block chain to deal?

The world’s gold reserves and payment network Goldmoney has launched a new block chain platform, the platform allows users to buy gold held by the Royal Canadian Mint vaults, these gold transactions will be recorded in a private block chain. Buyers only need to pay 0.5% of the fee, but also to enjoy the extra high up to 1 kg of precious metal storage service.

Goldmoney co-founder and chief strategy officer JoshCrumb said:

“We are very early is the blockchain enthusiast and technology principle of the blockchain is very interested in. So we created a block chain platform to cover the gold industry, with a block chain to verify the gold price movement and settlement. In essence, the platform can help the customer to confirm the presence of gold.”

Goldmoney took three years to create a private block chain of their own, the project led by chief technology officer AlessandroPremoli personally. Premoli is a member of the community of the early block chain, or Gerbaud consultant, at the same time also make regular contributions to open source projects.

JohnMoore, vice president of the Royal Canadian Mint said sales:

“We are very pleased to join the Goldmoney network and Goldmoney network and provide users with us in the high security vault storage service in Ottawa. We also look forward to working with Goldmoney in the future marketing project, in order to show the status of the Canadian leadership in the global precious metals industry.”

Goldmoney can provide a wide range of transaction services, including physical gold buying, selling and trading and redemption. In the transfer of value, working mode and bitcoin are similar to that of Goldmoney. Goldmoney network members can buy Precious Metals and ownership by email or text information transfer to other members. The receiver can then be the value of gold in local currency in the form of redemption to a bank account or a MasterCard Goldmoney. The transaction is usually completed within one day, fee of 1%.

Now the block chain project more and more began to involve gold. According to the recently reported, has a history of more than 1000 of the Royal Mint (RoyalMint) – the only British coinage authority permits — announced that it will launch a block chain of gold products. The British Royal Mint (RM) and the Chicago Mercantile Exchange (CMEGroup) for cooperation, jointly create and launch a digital gold products, this product allows users to use a system based on block chain execution, clearing and trading of gold.

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In 2017 the bitcoin block chain may become the key financial revolution

In 2017 the bitcoin block chain may become the key financial revolution

    

Bitfury is a large bitcoin mining and block chain technology company, the vice chairman of GeorgeKikvadze bitcoin industry, community, and the main bitcoin network development in 2017, put forward his expectation and prediction.

Bitcoin industry highly anticipated activities

The year 2017 is the highly anticipated bitcoin industry, Gemini and SolidX and other companies are gradually completing the closed-end fund part of the opening (ETFs) approval process. WinklevossTwins bitcoin ETF called WinklevossBitcoinTrust, WinklevossBitcoinTrust and StateStreet (mainly due to a highly anticipated Financial Services Company) partnership, WinklevossBitcoinTrust is particularly close to its approval and deployment phase.

Different analysts and experts have stressed that the introduction of such as WinklevossBitcoinTrust bitcoin ETF may have doubled the price of bitcoin, because this will make some well-known high and regulated companies, investors, traders and enterprises to invest in bitcoin, and does not have the conflict of laws.

MoneyMorning press DavidZeiler:

“Most of the bitcoin community believe that the first bitcoin ETF approval will have a positive effect on bitcoin prices. Because in addition to providing a new way for people to invest, it can also strengthen the legitimacy of the digital currency.”

More importantly, bitcoin startups have begun to attract science and technology within the industry well-known investors, and reduce the associated block chain chain startups and block a whoop and a holler. For example, bitcoin innovative startups Coins to Philippines, Malaysia and Thailand that remittances huge country provides a robust and efficient and high mobility infrastructure bitcoin, received a $5 million investment in the A round of financing led by AccionFrontierInclusion.

AccionFrontierInclusion’s GaneshRengaswamy said in a statement: “the Coins is working with the main participants of ecological system, in order to build a new financial and payment infrastructure in Southeast asia.”

Bitcoin network and Protocol Improvement

Chain extension solutions as well as Segwit, Lightning and TumbleBit these privacy solutions company may allow developers and bitcoin startups can not make great changes under the premise of the development of micro transaction system, efficient and robust hardware purse wallet system and privacy concerns bitcoin platform.

The introduction of BitcoinCore Segwit in mid 2016, according to a study by AlexPetrov showed that the bitcoin network capacity that can be expanded 1.1 times. So the optimization of block size allows users in safe condition at a faster speed to complete the payment process.

In addition, as more and more banks and financial institutions began to realize the low efficiency of private block chain network and licensing ledger, bitcoin blockchain will most likely become a key financial revolution. Recently, a former Barclays chief executive, joined a very popular wallet platform — Blockchain is also known as the Blockchain.info board of directors.

Before the Barclays CEO AntonyJenkins said:

Block chain technology has the potential to reshape the way we consume, beneficial to build a high quality, low cost, safe, fair and transparent financial system.”

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The IRS on bitcoin users

The IRS on bitcoin users

A recent IRS (IRS) and bitcoin news is disturbing, but this is only a IRS action of the tip of the iceberg, the agency hopes to expand the foreign account tax compliance Act (FATCA), to cover the bitcoin users (bitcoiner). The United States bitcoin users should be aware of their own in the past few years, the transaction may endanger their.

The IRS on bitcoin users

In early November 18th, Coindesk reported that “bitcoin user data” IRS is seeking Coinbase survey, mentioned in the article: “it seems that the IRS is actively investigating the United States digital currency users, and the attention of the crowd, is the users who had bitcoin transactions during the period from 2013 to 2015, the” the survey is based on “JohnDoe” summons has been approved by the United States court.

At present, this event is still fermenting, a Coinbase customers have filed a lawsuit to stop IRS access to these records, however, the possibility of a lawsuit to very low, in such cases the IRS win rate reached 90%. Although Coinbase also resisted the IRS, but it will almost certainly follow the order of the court. At present, there is very little to stop the footsteps of hope IRS.

At the same time, the current IRS is still under discussion, a key measure, the agency hopes to expand the foreign account tax compliance Act (FATCA), to cover the bitcoin users (bitcoiner).

What is the foreign account tax compliance Act (FATCA)?

Foreign account tax compliance Act (FATCA) is a mechanism used to enforce the tax policy, the bill in March 28, 2010 by Obama signed by. FATCA mandatory provisions of foreign banks and financial institutions are required to report to U.S. customers account and transaction. It is not directed at individual institutions, but. Compared with other bills, the power of the FATCA is that even a foreign financial institution no contact with the United States, there are some specific disclosure of personal or business account the obligations to the U.S. government.

In addition, the definition of duty of Americans, including “affiliated Americans”, these people may never set foot on American land, but their parents in at least one is American, so these people are considered to be dual citizens. For example, born in Canada TedCruz can run for president of the United States, it is because his mother is american. It is estimated that in 20 Canadians, one belongs to the American immigrants, or is affiliated to the americans”. According to the FATCA act, these people have the need of tax (tax paid to the foreign government Never mind).

You may have a doubt, a bill of the United States, will affect financial institutions in other countries? In fact, it is this.

In a Forbes report, tax lawyer RobertW.Wood explained:

“Incompatible institutions will encounter freezing in the U.S. market, so they have no choice but to abide by the regulations. If these companies did not pass the United States user data, FATCA will cut the company access to financial markets in the United states. There are more than 100 countries have agreed to the law. These countries must agree with the law, otherwise it will face dire consequences.”

It is almost certain that FATCA will be aimed at all American bitcoin users, because this is an untapped wealth. The first goal will be to Native Americans, these are the goals and those with extreme ease, more difficult to track “affiliated Americans”, is likely to be the next target. Shows the first step of this strategy is to comply with the requirements of compliance, encryption IRS monetary and financial institutions, such as Coinbase.

In early 2014 March, the IRS has issued a notice, which clearly pointed out that digital currency will be taxed as property. The news of the far-reaching significance, the notice referred to in payment in bitcoin wages need to pay income tax. But these policies impact on the digital currency community is not large, because the IRS lack of enforcement mechanism.

The financial institutions act of FATCA, or become an effective enforcement mechanism, if these financial institutions comply with the law, law enforcement will no doubt began in the United states. However, taking into account the digital currency flexibility is very high, the IRS in the supervision of the bank after the meeting, in the same way quickly to track foreign exchange.

conclusion

Have used bitcoin financial institutions (such as exchange) Americans, they should be aware of their own in the past few years bitcoin transactions will easily by the IRS review. According to tax experts Daniel Winters currency encryption (DanielWinters) said:

“If your trading records are sent to the IRS, you may not be notified, but you will receive a letter from the IRS letter, then you will know that IRS asks you for the bitcoin income tax.”

In this regard, how do you see?

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The government of Philippines to establish the legal status of encryption currency

The government of Philippines to establish the legal status of encryption currency

In the field of bitcoin remittance popularization has pushed the Philippines government to draft a new regulatory policy for the.

This decision was made by the deputy governor of the Central Bank of Philippines Nestor? Pengnila ACE (NestorEspenilla) publicly announced. Espenilla said the implementation of monetary policy regulation will be encrypted is beneficial to the people of Philippines, as from overseas to domestic friends and family remittances continue to increase, so the regulatory policy can provide protection for them.

Espenilla said on one of Philippines’s major commercial news agency:

“We should pay attention to is money laundering and consumer protection potential. We are working on the virtual currency exchange operators in a more formal regulatory framework under the.”

The Central Bank of Philippines supervision and inspection unit of leadership to a new regulatory policy will establish the legal status of encryption currency in the country. At the same time, will make the encryption currency platform operators and other agencies as subject to anti money laundering provisions review.

The Bank of Philippines said that now is the right time to introduce encryption monetary regulatory policy, because Philippines has every month bitcoin remittance has reached the scale of about $2 million. The country’s largest company SatoshiCitadelIndustries Rebit.ph platform encryption currency occupies a leading position in the country bitcoin remittance industry. Remittance by using bitcoin, people can save transaction and exchange fees as part of the.

The introduction of bitcoin regulatory policy for the interests of users and encryption currency platform provides a protective frame, it will have a positive impact on the ecosystem. It also will operate implanted legitimacy currency based on encryption, while providing clear notes for the enterprise, improve the public bitcoin rate, so that users do not have to worry about any “non-existent” encryption currency use effect.

Each country will make their own version of the bitcoin regulatory policy, but this is a matter of time. Early actors, such as Philippines, should ensure the correct development of regulatory policies, because they will set a precedent for other countries.

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Bitcoin blockchain defense is more reliable than the central institutions

Bitcoin blockchain defense is more reliable than the central institutions

Network security has become one of the biggest security threat in many countries such as the United States, European Union, Russia, Chinese etc.. The massive effective attack can also destroy communications, military aircraft or ground attack, civil infrastructure, such as hospitals, communications and power plant’s main city.

Nigeria encryption development plan (CDIN) president and founder of AdeoluFadele said:

“Now it is widely believed that the next war will be done online. Because in the digital age, the state is still the main form of power in the world, these countries must have excellent network defense and attack.”

Perimeter security is not reliable

The existing network security system is Its loopholes appeared one after another. In October 2016, with a massive distributed denial of service attack (DDoS) attacks that hit some of the famous sites, such as twitter, Amazon, New York Times, leading to the site can not be accessed. The attack is not directly to any one of these companies, but these companies for the DNS service provider Dyn.

Fadele tells Cointelegraph that the inherent vulnerabilities exist in the current system is the main reason for the perimeter defense become standard practice. Since the traditional perimeter defense has been unable to resist the advanced persistent threat (APT) attack, then an attack resistant distributed technology books (such as bitcoin blockchain) to become inevitable.

A better chance of survival

From the Coinfirm block chain GrantBlaisdell in the lab that block chain technology can greatly reduce the potential losses, because the attacker wants to succeed to attack the block chain network, then we must attack the whole network, not only for a certain center. In addition, if attacked, most of the infrastructure is also a great opportunity is not affected.

“IT” peripheral security “is not the best strategy, because this will target in a vulnerable position, in the attack in the isolated state. The block chain distributed network can provide better communication and the ability to resist the threat.

The government is afraid of losing control

Considering why the government may be reluctant to accept the blockchain this technology, Blaisdell said this may be due to fear of losing control of the irrational fear.

For decades (or even centuries), all of the government and public administration is the implementation of a centralized policy of decision-making and critical infrastructure, this model is proved to be inefficient and unsafe, there have been tens of thousands of accidents, such as leakage or theft of data messages. For a unified system will greatly reduce the blockchain attack risks and potential damage based on safety management, and even the military.

The reliability of bitcoin

Fadele lists the bitcoin block chain as a distributed ledger system for example, the block chain has been running on the public network for 8 years, and in the absence of the protection of traditional perimeter security under the. Bitcoin is now worth more than $14 billion, but no one can break this chain block.”

He also pointed out that some properties of bitcoin blockchain, these properties make bitcoin blockchain than traditional security defense perimeter defense better:

Open to the centre and distributed transactions

Tamper proof and unchangeable transaction records

Real time audit results

Anti attack

Review of anti

However, Fadele believes that some of the challenges the current mainstream bitcoin is slowing down and may block the use of chain:

Something new and evolving

The complexity of Technology

Bitcoin regulatory uncertainty

Criminal activities in bitcoin abuse, such as rogue software

Scalability

KYC/AML obstacle

The second generation of the digital revolution

Starting from the digital revolution decades ago still is to subvert the existing structure of the system and. The first generation of the digital revolution to the Internet as the representative of the information has upended many institutions, such as printing, post office, library and communication. Now the next round of the digital revolution has arrived, bringing value for our Internet (Internetofvalue), this time will change the global financial and economic situation.

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