Bitcoin Cash Roundup: Adoption Stories and New Developments

Bitcoin Cash Roundup: Adoption Stories and New Developments

Bitcoin Cash (BCH) adoption, development, and participation continue to spread as there’s been a myriad of BCH-related announcements in the last few weeks. Moreover, there’s now over 18 million bitcoin cash in circulation and only three million coins left to mine.

Also read: Ethereum Name Service Adds Infrastructure for Multi-Currency Support

Bitcoin Cash Adoption and Announcements

The last few weeks have seen a variety of new adoption stories, software development, and new platforms that utilize BCH. Proponents of the decentralized cryptocurrency have been relentlessly pushing for mass adoption while showing a strong dedication toward scaling. Right now the price of bitcoin cash is hovering between $210-230 after most digital assets dropped a few percentages in value last week.

Bitcoin Cash Roundup: Adoption Stories and New Developments
Coin Dance BCH statistics in comparison to BTC.

According to Coin Dance statistics, it is 489x more expensive to transact on the BTC chain in comparison to using the BCH network. Additionally, at the time of publication it is currently 3.5% more profitable to mine on the Bitcoin Cash blockchain. BCH fans have also witnessed the 18 millionth coin mined on the chain and there’s now only three million BCH left to mine. The fact that there are so few left makes bitcoin cash scarce and far superior to the fiat currencies that can be printed on a whim.

Bitcoincash.org’s Developer Portal

On October 10, the website bitcoincash.org announced it is launching a developer portal so programmers can utilize tools to develop and build on BCH. “Create amazing apps with Bitcoin Cash with resources for developers, by developers,” the website explains. The bitcoincash.org developer portal has tools like Python and Javascript libraries, vocabulary and associated APIs for Bitcoin Cash, the Badger Wallet software development kit (SDK), and an SLP SDK. The portal gives blockchain engineers the means to create infrastructure and third-party services for the BCH chain.

https://t.co/XyRCmfm8VC is launching a developer portal aiming to help developers find the tools they need to build on #BitcoinCash.

Find it at: https://t.co/GVAtXCMyhE

— Corentin Mercier (@merc1er) October 10, 2019

Bitcoin ABC Version 0.20.4 and the November 15 Upgrade

Six days later, the Bitcoin ABC development team released Bitcoin ABC version 0.20.4. The latest client release provides users with a new ‘createwallet` RPC command, bug fixes, and more. The 0.20.4 version is available to download now for a variety of operating systems. In addition to the recent release, BCH developers from across multiple clients are preparing for the forthcoming November upgrade. BCH engineers plan to implement two new features: Schnorr support for OP_Checkmultisig and enforcing Minimaldata in script, otherwise known as the “Minimaldata” rule.

Bitcoin Cash Roundup: Adoption Stories and New Developments

Telefuel Accepts Bitcoin Cash

A new unofficial platform for the Telegram messaging application Telefuel has announced the firm is now accepting bitcoin cash payments for its premium-tier services. Telefuel is an application for Telegram power users who can leverage the platform for coworking, collaboration, and productivity offerings. For instance, with Telefuel users can access Slack-like services that can support individual and group workflows. Features include chat folders, workspaces, keyboard shortcuts, unread mention filters, and split tabs for DMs, groups, bots, and channels.

Bitcoin Cash Roundup: Adoption Stories and New Developments
Telefuel.

“We’re building Telefuel to serve power users on Telegram, so crypto-industry professionals are obviously an important focus for us,” Telefuel co-founder Alan VanToai detailed. “Bitcoin Cash is an important pillar in the industry, so we’re happy to include BCH among the currencies we’re accepting for Telefuel Pro.”

Visual Recognition Engine Visionati Accepts Bitcoin Cash for Services

Another service that now accepts BCH is Visionati, a visual recognition engine that leverages artificial intelligence (AI). Visionati believes it’s the “most robust computer vision API on the market” by offering advanced algorithms and data. Users can harness the platform to interact with image and video metadata. Services offered include image and video analysis so people can make images and films searchable with the ability to filter as well. This includes automatic tagging, NSFW filtering, facial recognition, logo detection, color analysis, and optical character recognition. For services, Visionati accepts BCH, ETH, and BTC. The startup believes it is one of the first visual recognition products enhanced by AI that accepts digital assets.

Bitcoin Cash Roundup: Adoption Stories and New Developments
Visionati.

Blockchain.poker’s Tournament Feature

A new feature is available at blockchain.poker for users who want to play poker for BCH, BTC, or BSV. Users can simply log in and sit down for a game or they can create their own tournament on the platform with the added functionality. The site’s owners recently revealed the poker platform’s tournament update on Twitter, explaining: “You can now earn bitcoin by creating your own sponsored tournaments on blockchain.poker. Create a tournament by clicking the “+” button at the bottom of the tournament lobby.”

Bitcoin Cash Roundup: Adoption Stories and New Developments
Blockchain.poker.

This morning a few players announced on the Reddit forum r/btc a 0.5 BCH guaranteed prize pool tournament on the web portal. BCH fans seemed to enjoy the poker site’s announcement and one person remarked: “Keep up the great work guys — I’m convinced this is going to be huge once the key features you described here are implemented. The reputation system should mitigate a good portion of the risk of cheaters if done right.”

Upcoming Consensus Changes and the Road Forward

Overall there’s been a lot happening within the BCH ecosystem and passionate Bitcoin Cash proponents continue to truck forward. Bitcoin Cash miners, businesses, and node operators are also preparing for the consensus changes coming November 15. The upgrade is a touch over two weeks away and according to developers, the added features will continue to bolster the BCH roadmap going forward.

What do you think about all the Bitcoin Cash developments and adoption stories? Let us know what you think about this subject in the comments section below.

Image credits: Shutterstock, Bitcoin ABC, blockchain.poker, Telefuel, Visionati, Coin Dance, and Twitter.

Did you know you could win big with Bitcoin gambling? Choose from a range of BCH games including BCH poker, BCH slots, and many more. All games are provably fair—good luck!

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Circle Drops Poloniex Leaving US Crypto Traders High and Dry

Circle Drops Poloniex Leaving US Crypto Traders High and Dry

According to a blog post published by Circle, the cryptocurrency firm is releasing its subsidiary exchange Poloniex which is now owned by an “Asian investment group.” The trading platform will become an independent company called Polo Digital Assets, Ltd., and after November 1, 2019, U.S. residents will no longer be able to use the platform.

Also read: Ethereum Name Service Adds Infrastructure for Multi-Currency Support

Circle Spins Out Poloniex

Circle, which specializes in digital assets and over-the-counter swaps, has decided to sell the cryptocurrency exchange Poloniex. The terms of the deal are unknown, but Circle paid roughly $400 million for the trading platform in February 2018. In a message to the public, Circle cofounders Sean Neville and Jeremy Allaire disclosed that the exchange will be its own entity known as Polo Digital Assets, Ltd., and it is now backed by an investment agency located in Asia. Circle’s blog post disclosed that Poloniex will be performing “aggressive hiring” and the new entity will spend $100 million on operations management. On October 21, Polo is offering 0% trading fees until the end of the year but U.S. customers received some bad news.

Circle Drops Poloniex Leaving US Crypto Traders High and Dry
The crypto firm Circle purchased Poloniex in 2018 for $400 million and less than two years later the company announced it was spinning out Poloniex.

“This transition will mean some significant changes for existing U.S. customers of Poloniex,” Circle’s blog post underlines. “As detailed in a separate announcement from the Poloniex team, U.S. customers will no longer be able to trade on the exchange starting on November 1, 2019.” Neville and Allaire’s announcement further details:

U.S. customers will continue to be able to access and use their wallets and withdraw funds through wallet and custody services operated by Circle until at least December 15, 2019.

US Regulations Stifle Digital Currency Businesses

The cofounders mentioned that it was “bittersweet” for the company to release the firm, but also highlighted that Circle “faced challenges as a U.S. company growing a competitive international exchange.” On social media and forums, U.S. residents were flabbergasted by Circle’s announcement. One person wrote that he was “getting really sick of losing access to crypto markets due to being a U.S. citizen.” “Someone needs to put up an easy how-to guide on how to set up an offshore corporation U.S. citizens can put their assets into, and then how to use a VPN to access exchanges,” the individual continued on the Reddit forum r/cryptocurrency.

Is @justinsuntron buying Poloniex?

— Ran NeuNer (@cryptomanran) October 18, 2019

Additionally, the cryptocurrency community discussed the Asian investment group that allegedly purchased Poloniex. Celia Wan and Frank Chaparro from The Block assert “Tron founder Justin Sun is behind Poloniex’s spin-off.” The founder of Digibyte, Jared Tate, remarked that it was “sad to see Poloniex is kicking all U.S. customers off their platform.” Tate added:

One major step backward for crypto in the USA.

U.S. residents have been at a loss when it comes to cryptocurrency exchanges that offer a large assortment of digital currencies. Recently Binance shut down operations in the U.S. for a while and when it returned, the number of tradeable coins was far less. Bitfinex explained that it would “be discontinuing services to our existing U.S. individual customers” in 2017. Last summer Bittrex banned 32 cryptocurrencies from American citizens including QTUM, STORJ, and BCTP.

Poloniex is moving out of the US to focus on international markets.

They won’t even let US customers use their products moving forward.

This will become the norm if the US continues to create an overbearing and/or uncertain regulatory environment.

We must get it right.

— Pomp 🌪 (@APompliano) October 18, 2019

Since 2017, interest in cryptocurrencies has surged and many U.S. states have implemented regulations toward digital currency trading platforms and money transmitters. There are certain states in the U.S. exchanges won’t go near like New York due to the strict Bitlicense guidelines. New York’s measure of regulations and guidelines consists of a 44-page document and lots of upfront fees. When the Bitlicense was enacted into law, cryptocurrency startups like Shapeshift, Poloniex, and Xapo left the state and never returned.

What do you think about Circle parting ways with Poloniex? What do you think about U.S. residents losing more access to cryptocurrency exchanges? Let us know what you think about this subject in the comments section below.

Image credits: Shutterstock, Twitter, Circle, Poloniex, and Pixabay.

Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

The post Circle Drops Poloniex Leaving US Crypto Traders High and Dry appeared first on Bitcoin News.

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Russia Blocks 2 Crypto News Websites

Russia Blocks 2 Crypto News Websites

Russian authorities have restricted access to a couple of cryptocurrency news outlets. The formal reasons for the censorship move are different in each case but the end result is the same. In both, regulators have acted on the basis of a law that empowers them to block online sources of information that have been banned in the Russian Federation.

Also read: Telegram Offers to Postpone Launch of the TON Network

Moscow Restricts Access to Cointelegraph and Coinspot

The restrictive measures have been imposed against Cointelegraph, a global information source about the latest developments in the crypto space, and Coinspot, a Russian language portal spreading news and other useful information about decentralized digital currencies, fintech trends and financial innovations. Both have been blocked for readers in Russia, starting from October 16.

The formal reason in the case with Cointelegraph is a request from Russia’s Federal Tax Service filed on Dec. 25, 2017. The outlet explained that although Cointelegraph was blacklisted almost two years ago, the Federal Service for Supervision of Communications, Information Technology and Mass Media (Roskomnadzor) technically implemented the ban only this week. It remains unclear why it took the watchdog so long to act.

Russia Blocks 2 Crypto News Websites
Roskomnadzor

Cointelegraph quoted the developer of a Russian anticensorship browser extension who, on the condition of anonymity, confirmed the block, noting that the website’s URL has been added to the blacklist file Roskomnadzor emails to internet service providers. However, it seems not all of them have updated their databases at this point as the website is still available to some users in the country.

The other affected news outlet, Coinspot, has been blocked at the request of the Prosecutor’s Office of Danilovsky District in Volgograd region, Forklog reported. According to an August 22 ruling by the Central District Court of Volgograd, only a single article detailing how to find a blockchain casino had to be taken down. However, most Russian internet providers have restricted access to the whole site.

In both cases, Roskomnadzor’s decisions are based on the Law “On information, information technology and information protection,” which went into force in July, 2006. Its provisions are typically used to justify the blocking of websites containing information the dissemination of which in the Russian Federation has been prohibited for various reasons.

Sarkis Darbinyan, lead legal expert at Roskomsvoboda, confirmed to news.Bitcoin.com his organization is aware of these developments. The NGO, which is fighting internet censorship in the country, is currently trying to gather more details about the blocking of the websites.

Government Internet Censorship Intensifies

The Russian telecom regulator has in the past taken actions against other web portals related to cryptocurrencies, usually on request from other government institutions and the judiciary. For example, the supervisory service blocked the online exchanger Buybit.net in April of this year. But there have been also cases where such attempts have failed.

Russia Blocks 2 Crypto News Websites

In May, Roskomnadzor had to take a similar platform, removing Bestchange.ru from its blacklist after prosecutors gave up efforts to block the website citing pending legislation expected to regulate digital assets. In March 2018, the Saint Petersburg City Court struck down a ban on 40 websites offering information and services related to cryptocurrencies, and in April, the Supreme Court overturned a decision to block the Bitcoininfo.ru portal.

Despite these positive developments, the government has been tightening the noose on the Russian segment of the internet. In March, Roskomnadzor demanded that 10 VPN service providers connect to the Federal State Information System, the register that keeps information about all websites that have been banned in Russia.

Later, in April, the State Duma, the lower house of parliament, adopted a law designed to channel Russian internet traffic through routing points controlled by authorities in Moscow and effectively isolate the Russian internet space (Runet) from the rest of the web in the future. It grants Roskomnadzor powers to go after internet providers that refuse to participate in Russia’s version of the Great Firewall.

Do you think Russian authorities will try to block other crypto news websites? Share your expectations in the comments section below.

Images courtesy of Shutterstock.

Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The Local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

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Original Article