American venture company holds tens of millions of bitcoin assets

American venture company holds tens of millions of bitcoin assets


PeterThiel is a German born American entrepreneur, who is the co-founder of Paypal, and has $1 billion 500 million will be sold to Ebay. The personal net assets of approximately $2 billion 600 million, at the same time as several major enterprise core leadership positions, including the director of Facebook.

Thiel founded the venture capital firm aims to invest the development of new technology enterprises, the company has led the British Airbnb, Facebook investment funds, in short, FoundersFund holds more than 100 of corporate assets, and management related assets of more than $3 billion. Obviously, the company is the purchase value of 1500 to 20 million bitcoin in a few years ago, due to the recent surge in bitcoin prices, resulting in this part of the value soared.

According to the Wall Street Journal (blog, micro-blog) said, October Thiel had commented on a virtual currency in Saudi Arabia Investment Summit, he believes that this asset class is full of charm, although he still has doubts about most of the virtual currency, but he believes that the world has some underestimate the value of bitcoin, especially in the can as a reserve currency on the one hand.

It can be noted that unlike buying bitcoin trading stocks directly through the purchase of bitcoin, FoundersFund deviated from its usual practice. The company this behavior had not been reported, and in this event shows the occasion, Coinmarketcap showed that bitcoin prices have jumped.

Currently bitcoin prices at $15400 /, Thiel said that if bitcoin is a network of the golden era, so the potential is enormous.

The chief U.S. financial regulators said bitcoin does not pose a threat to the financial system

The chief U.S. financial regulators said bitcoin does not pose a threat to the financial system


The chief U.S. financial regulators, Financial Stability Oversight Council (FSOC) said, bitcoin and other encryption currency will not pose a threat to the existing global financial system. In the FSOC 152 page report pointed out that virtual currency is used by only a small part of the consumer, and the bottom block chain of their technology in various industrial applications provide potential.

“Virtual currency is only a small part of consumers. Our extensive application on distributed accounting technology called to give more trust, these technologies to promote innovation. It is worth noting that this figure has also brought a wave of regulatory challenges, because the data storage is decentralized, rather than the government can be observed.”

Other highlights of the report

The report views on some digital currency is that there are some reasons beyond all expectations, the financial industry’s negative stance. For example, a charge Morgan chase CEO Jamie Dimon recently proposed that bitcoin is a fraud, it should not be taken seriously.

The report also cited the face of the global financial system of various currencies, geopolitical risks and threats of network security threats. But bitcoin is not listed as a threat.

Digital currency market performance

The virtual currency market achieved considerable growth in 2017. However, despite the amazing growth, but the market is still far lower than the total market value of $1 trillion, is probably too small to pose a systemic threat to the global financial industry. At the same time, the release of the crypto currency potential is extreme.

Segwit2x bifurcation hard suspension, but bitcoin expansion did not end the war

Segwit2x bifurcation hard suspension, but bitcoin expansion did not end the war


Distributed system expert AndreasAntonopoulos tweets said: “once the bifurcation, bitcoin.”

AkinFernandez is one of the developers firmly opposed the proposal, he simply wrote: “bitcoin won.”

It is understood that these people have reacted strongly to join a long protest movement “NO2X”, the movement gained dozens of companies and user support, they expressed their opposition by adding the prefix “NO2X” in their name to social media.

Similar to bitcoin this open source system, any change of core rules are required by different stakeholders to include bitcoin companies, developers and pool, and they for the future development of their own views.

In an invited to participate in the meeting, we found that the criticism of Segwit2x is mainly from the developers. But in fact, most developers is not against larger blocks, just think it lacks a frame of reference network largely unable to determine what changes may occur.

Therefore, Segwit2x suspension can be seen as the debate began in 2015 when the climax, bitcoin GavinAndresen tried to stimulate people to maintain interest in expansion. Since then, there have been several community expansion attempt.

However, although Segwit2x initially got the support of stakeholders, but it and BitcoinClassic, BitcoinUnlimited and Bitcoin-xt, have not been successful by.

Contrary to expectation.

Even many Segwit2x supporters feel relieved.

“I’m glad all over.” The miners GuyCorem said, he signed the Segwit2x agreement in May, “this is the right decision.”

The developers of Segwit2x Jean-PierreRupp said: “I think I can now focus on technology, but not in the news and online debate on.”

In Reddit and Twitter and other social networks, full of the fierce debate and even death threats. As a result of this situation, welcomed by the community that Segwit2x does not offer supporters hope.

Crypto currency software provider Blockchain CEOPeterSmith wrote in an article: “we are relieved, the New York consensus is the goal of the community together, and most of the users remain in the same chain.”

Many people have the same idea: through hard to increase the bifurcation block size is reasonable, but the premise is the agreement needs to obtain the bitcoin ecosystem with the support of all parties. founder and CEORonHose said: “we are very supportive of increased block size, because customers are affected, but we hope that in a more responsible way, taking into account more voice.”

The new solution

Despite this expansion failure, but they still have a strong feeling of bitcoin still needs expansion in the future, to accommodate more new users.

Developer PeterRizun said: “we can either expand bitcoin block or bring people to a larger block of bitcoin on (BitcoinCash).”

Lightning network supporters praised the Segwit2x news of the defeat, lightning network (LightningNetwork) is a decentralized system. Excellence network lightning is no need to trust each other and the third party can realize real-time, massive transaction network, in order to transfer bitcoin transactions from the blockchain into their chain.

Lightning network CEOElizabethStark wrote on Twitter: “we are pleased to formally suspend bifurcation, return to work long-term solution, such as lightning network!”

Lightning network may be a possible solution, but it looks like the need to observe more carefully.

At the end of the week held at the Stanford University for a period of two days of technical seminars, technical difficulties of lightning network has also been mentioned, including how to ensure the privacy of transactions, a better understanding of the economic interaction. As the Hebrew University AvivZohar pointed out, to solve this problem, may eventually need more blocks to optimize network lightning. That is to say, only rely on the lightning network may not be enough, or too long.

Therefore, some people think that the enterprise will use other protocols, such as bitcoin cash (bitcoincash) or Wright currency.

CivicCEO and co-founder of VinnyLingham said: “we may start to see more and more enterprises to use the BitcoinCash transaction chain, because bitcoin transaction cost is very high, which is trying to solve the problem of Segwi2x.”

The long-term expansion of the block supporters, business developer JakeSmith said in the news after the failure to see the bifurcation, he immediately sold bitcoin. Smith said: “as far as I am concerned, bitcoin has just been sentenced to death.”

Similarly, OpenBazaar’s chief developer ChrisPacia said last week that more companies will turn to other choices. “There is no sense again after BitcoinCash bifurcation.”

The fight did not end

The expansion of the debate has ended, people in the future of bitcoin has new thinking.

Bitcoin is unique, it is a kind of mobile value to the center of the digital way, any one entity can not control. But for some people, Segwit2x failure does not mean that the expansion of the end.

Bitcoin developer Bashco pointed out that the future will be a substantial increase in the capacity of block proposal, and other developers, “they cure wounds, rally.”

A controversial move is Segwit2x developers decided to remove the called “replay protection” code, which means that this bifurcation may have been executed, if there are two chains, users of the funds may be at risk.

However, some people use this message to bitcoin calls for a change of culture and community, especially those who are aware of the government in the next few years will likely use a similar approach to the breach of an agreement.

The writer EricLombrozo BitcoinCore said: “we must continue to study the bifurcation, block chain division, construction tools and defense measures, because will try something similar again.”

Others are more optimistic, in the eyes of some people outside of the circle, the failure of Segwit2x seems to be a benign development.

Bitcoin anonymous blogger WhalePanda wrote on Twitter: “we won the battle… But… They will continue to destroy the bitcoin, we will not forget it.”

Look at the block chain to bitcoin bitcoin triggered skyrocketing perspective, pay more attention to the blockchain

Look at the block chain to bitcoin bitcoin triggered skyrocketing perspective, pay more attention to the blockchain


The place exudes magical attraction. The Nakamoto So designed encrypted digital currency system will be a lot of clever innovation mixed miscellaneous together. It sparked the chain can block how technology applied to other areas of discussion.

Bitcoin brilliance exudes magical attraction. The Nakamoto So designed encrypted digital currency system will be a lot of clever innovation mixed miscellaneous together. The rising price of bitcoin, which sparked the chain can block how technology applied to other areas of discussion.

We often hear of people who claim that as with bitcoin, all other block chain technology application must be decentralized, anonymous, end to end, not by the central bank issued currency bonds, nor by government regulatory constraints, the design objective is to weaken the business, achieve success and win recognition technology and political institutions.

Bitcoin prices skyrocketing, attracted the attention of netizens, the application block chain technology to all walks of life to become a hot.

South Korea’s Dongbu group and bitcoin remittance provider cooperation into the bitcoin remittance market

South Korea’s Dongbu group and bitcoin remittance provider cooperation into the bitcoin remittance market

South Korea’s Dongbu group announced bitcoin remittance service providers Sentbe cooperation, to enter the bitcoin remittance market.

The group is reached by the savings bank subsidiary, Dongbu bank and senta.

According to an official of the savings bank that partners have signed a memorandum of understanding (MOU), to prepare for the fourth industrial revolution. “We have been in this business alliance, to prepare for the fourth industrial revolution for the traditional savings bank.”


The background of Sentbe

Korea Companies Sentbe due to the use of bitcoin overseas remittance service won the 2016 annual financial technology awards (fintech).

Customers through bitcoin remittance service can pay 95% less than traditional banks, can be achieved to Chinese, Vietnam, Japan, Indonesia and Philippines and other countries of the remittance.

At the same time, Dongbu group is a large enterprise group in South korea. Industrial production, chemical industry, shipping, insurance and financial products, its subsidiary Dongbu savings bank is one of the world’s savings and retail banking association (WSBI) members.

By WSBI, the world bank and the cooperation of many financial institutions around the world, including the Bank of Sweden, Germany’s fra-spa bank, Philippines Postal Savings Bank of Indonesia, the National Housing Bank, National Savings Bank of Sri Lanka and the government of Thailand savings bank.


South Korea will legalize bitcoin remittance

In order to make bitcoin remittance legalization, the South Korean government amended the foreign exchange act, after the amendment of the Act came into force in July 18, 2017.

According to the law, plans to provide bitcoin transfers the fintech company to the financial supervision service (FSS) registration. They should also comply with certain financial requirements, such as more than 200 million won ($177 million) paid in capital, and less than 200% of the debt equity ratio.

Russian vice president said digital currency support national endorsement

Russian vice president said digital currency support national endorsement


A senior Russian officials recently said his viewpoint and support the national endorsement of encryption currency.

The Russian RBC radio interview first deputy prime minister Schur Valov (Shuvalov) said, “he is in favor of encryption currency ruble” — just take certain measures in terms of security.

He said:

The future of this industry will develop rapidly, but it is in the development of the national economy at the same time, can not let hit, but to strengthen national economic assistance.

Shuvalov is not the first to block chain technology based on digital roubles “opinions of Russian officials. In fact, the Russian Central Bank Deputy Governor said in February this year, a digital currency of a country “is only the time question.” Skorobogatova said, after extensive discussion of the central bank, they were finally ready to take the initiative forward.

The Russian government is exploring the blockchain technology in many aspects, including the Ministry of health officials are also actively exploring the possible methods to test the exchange of patient information using block chain technology. This summer, President Vladimir Putin (VladimirPutin) has met with the etheric Fang founder Vitali J Battling (VitalikButerin).

In a RBC interview, Shuvalov confirmed that the government is considering investing in encryption currency mining resources, before the message is displayed, a consultant Russian President Vladimir Putin are integrating their own a bitcoin late ore resources.

Russia may finance the construction of digital encryption currency mining facility itself is a very obvious thing, there is a point worth noting is that the country’s legislators once discussed the supervision of strict measures — including the creation and dissemination of prison – to prevent the “currency agent”.

Nevertheless, according to Shuvalov, this movement is still in the initial stage.

“But this is only a discussion, not the specific project, in order to center the development of such systems, it is necessary to formulate appropriate laws and regulations.” He said in a radio interview.

Goldman then trance prediction: bitcoin could rise to $4800?

Goldman then trance prediction: bitcoin could rise to $4800?

The world’s top investment bank Goldman Sachs (GoldmanSachs) an analyst said yesterday, bitcoin prices may also rise to a record high of $4800.

According to reports, business reference (BusinessInsider) in a report to clients issued Sunday, chief technology officer ShebaJafari suggests, given bitcoin price has been close to her at the end of the forecast of $3600, the price may be far more than $4000.

The same day, bitcoin prices topped $4000 mark, a record high of milepost type.

Subsequently, Jafari predicts that bitcoin prices may rise to $4827. But she also said that the bitcoin market may usher in a fixed price or will be landing, to $3000.

Jafari comments, bitcoin prices broke through the $4300 level. Before the deadline, bitcoin prices exceeded 4400 US dollars, an increase of 10% over the past 24 hours.

In addition to forecast, Goldman has been on its customer base, from Goldman’s point of view, money is flowing into the market.

Last week, a group of Goldman analysts noted:

“No matter whether you believe investment (cryptocurrencies know who you are) the advantage, in reality the dollar really in inflows, concern here.”

Hope to open bitcoin university courses?

Hope to open bitcoin university courses?

The vigorous development of bitcoin and other encryption currency leads to block chain widely understood in the conduct of business, management and protection of securities assets ability. With the popularity of the blockchain, the experts in the field of demand has been more than ever before. Even the United Nations, is also seeking international assistance using the block chain.

All the pressure so that the university would block chain technology as part of the curriculum. Nicosia university is a pioneer in this area, the university to accept bitcoin payments, students can earn a bachelor’s degree blockchain formal in this school.

Now the other university is going to follow this trend, provide relevant courses at the same time, allow students to use bitcoin to pay tuition.

The latest addition is the European School of management and Technology (ESMT), they have launched a digital currency seminar, and allow students to use bitcoin to pay tuition. The school’s chief financial officer GeorgGarlichs said:

“Enables us to make a decision is necessary, because from the distant countries students encountered problems. When their governments do not want them (students) to transfer funds abroad when there will be a variety of reasons, may be the problem of high technology fees, or simply because of capital controls, it is difficult for the students to the school to remittance. “

With the increasing popularity of encryption currency and its acceptance, will need more experts, the school must meet this demand.

The India government is considering bitcoin purchase tax

The India government is considering bitcoin purchase tax


Local news reports say, India is likely to buy bitcoin behavior for goods and services tax.

India officials have been studied for several months on how to develop digital currency legal framework, in April set up a special working group to study the problem and propose possible solutions. The legal problems of the technology in the India legal system has been questioned, especially public report that, to some extent, can be understood as bitcoin almost no restrictions.

Local news agency TheHind reported that the details of the work are emerging, including the possibility of tax. Apparently, according to the official explanation, on the prohibition of encryption currency topic indeed in recent meetings have been proposed, but in the end the proposal almost no support.

Officials told the media:

“No will showed a clear message: all relevant activities are illegal, and make those who try to assume a speculative risk loss of power. But it also shows that they do not tax related activities, in contrast to control through the currency block chain technology development, encourage the development of supervision system (tracking and tracing illegal legitimate activities also support activities), and promote the formation of regular tax base.”

May trade activities by the India securities and Exchange Commission (SEBI) jurisdiction, SEBI management in India securities market.

Finally, according to TheHindu news, bitcoin and other encryption currency may be that India law is a kind of digital assets.

The report said the criminals too stupid to not use bitcoin

The report said the criminals too stupid to not use bitcoin


Stupid criminals will not use bitcoin? This is the view of the EU report July 4th. This is not very significant blow to many people. About bitcoin and other encryption currency, the government’s concern is the criminals will use them to fund their activities.

A detailed record of the Commission staff, “although they (criminals) may have very high intention, but because of the characteristics of venture capital (especially anonymity), plus the technical requirements of high level limited use rate is very low.” The lack of understanding of the technology of encryption currency low level ability of criminals.

Bitcoin sponsored terrorism requires knowledge and skills of professional IT

After the report mentions that criminals use rate is very low, it added that terrorists may try to use bitcoin like this “virtual currency” to fund some action. The report said, the anonymity of the virtual currency provides a risk, as it relates to the members and other evil terrorist organization. In other words, violent intentions people can use the money to fund a secret bombing campaign or other violence. However, the report believes that now seems unlikely, because the technology is still in development.

However, it is worth mentioning is that currently under development technology needs 88 skills and expertise, the virtual currency is not necessarily easy to use, and the number of transactions is still quite low.

The vulnerability of the EU regulation

The report pointed out that the biggest concern is the supervision of bitcoin and other virtual currency. In fact, these encrypted currency basically unregulated, which means that there are few reports and tracking mechanism in place. The conclusion of the report is due to inability to monitor suspicious transactions, without borders, international, anonymous, and no one to the financial intelligence unit report these activities, the fragility of the financial risk of terrorism is still high.

The inherent risk is very high, because the virtual currency function (network, multinational and anonymous). Finally, the Department is still not ready to accept the guidance of /CFT on anti money laundering requirements or related information. Therefore, related to the virtual currency TF vulnerability levels were considered significant / very significant (level 3/4).