Kazakhstan PM pays a visit to newly-launched crypto mining firm

One of Kazakhstan‘s top leaders has reportedly toured the facility of the country’s largest crypto mining firm, the BNKA Energy LLP, in the northeastern region of Pavlodar.

On Friday, Egemen Qazaqstan reported that Prime Minister Bakytzhan Sagintayev paid a visit to the crypto mining facility located in the town of Ekibastuz, and “examined the mining cells in the first workshop and electronic meters at the control station.”

BNKA Energy, which was described as a provider of “services in the field of [crypto] mining,” was launched last August 6. It offers hosting services for mining farms, including field placement of crypto mining rigs as well as analysis and monitoring of the equipment, and “uninterrupted power and internet communications.”

The firm considers itself one of largest players in the crypto mining field at the moment. It reportedly has chosen to set up operations in Pavlodar due to the surplus of electricity in the region, not to mention the government’s low tariffs for the nascent industry. Pavlodar has been eyeing to attract crypto mining farms and crypto companies as part of its bid to become “a center for popularization of blockchain technologies,” the Kazakh news outlet reported.

Since it was launched, the BNKA Energy facility—which reportedly costs KZT5.7 billion (US$15.32 million)—has been consuming 4MW of energy, but that capacity will be increased by 11MW during the second stage of the launch on September 20, and then by another 18MW on November 20. BNKA Energy plans to consume 33MW by the end of 2018, according to the report.

BNKA Energy’s launch comes several months after Kazakhstan’s National Bank declared that it is mulling a ban on crypto-related activities in the country, including cryptocurrency mining. Last March, National Bank Governor Daniyar Akishev was quoted by local news outlet Sputnik saying: “We want to ban the exchange of digital currencies for the national currency. We want to prohibit the stock exchange’s activities in this area, as well as every type of mining.”

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

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GAW Miners CEO gets 21 months’ jail time over fraud charges

The Hartford federal court in the U.S. state of Connecticut has sentenced the chief executive officer of crypto firm GAW Miners to 21 months imprisonment on charges of defrauding investors.

On Thursday, the Hartford Business reported that Homero Joshua Garza originally faced 20 years in prison, but his sentence was reduced after the man pleaded guilty on a wire fraud charge in connection with the development and sale of a cryptocurrency called PayCoin.

Garza is expected to start his sentence on January 4, 2019, and will be released in 2021. After his release, he will be expected to undergo supervision for a period of three years which will include a six months of home confinement. He is also expected to fully pay back investors their money, which is approximately $9.2 million. This is in addition to the $9.9 million restitution Garza’s ordered to pay in connection with a separate lawsuit.

Garza founded GAW Miners to sell crypto mining hardware in May 2014. However, the firm eventually ventured into selling cloud-based services to make more money. Investigators said Garza also created a fake cryptocurrency called PayCoin (XPY), and promised investors that the coin and its trading platform PayBase would be integrated with Amazon and major credit card companies to create an XPY debit card. Records show that people invested about $9 million in cryptocurrency.

Garza also promised investors that his cryptocurrency would never fall below the $20 mark as he had arranged to have the prices always above the marked price. He claimed to have PayBase support mechanisms, which included $100 million in company reserves and coordinated price pumps. After investigation, the U.S. Securities and Exchange Commission (SEC) and the FBI revealed that Garza never had any funds reserved for this purposes. The highest price PayCoin reached was $15.92, according to CoinMarketCap data.

According to reports, Garza was able to run his operations with the help of ZenMiners who sold their cloud based services to investors. Garza had also lied to investors that the company had purchased an $8 million stake in ZenMiner. Before authorities caught up with him, Garza had run his operations for a period of nine months.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

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Abra announces native support for Bitcoin BCH

Cryptocurrency wallet app Abra has announced native support for Bitcoin Cash (BCH), allowing users to deposit and withdrawal directly in Bitcoin BCH for the first time.

With accounts numbering into the hundreds of thousands, Abra claims to be the only wallet service in the world where users can buy, sell, store and invest in any of 28 cryptocurrencies. While BCH had been supported before, the launch native support opens up more of the app’s features for users of Bitcoin.

The firm announced the upgrade last Sept. 12, discussed at length in a YouTube interview between Abra founder and CEO Bill Barhydt and Bitcoin.com CEO Roger Ver. The support for BCH was first announced by Abra on Twitter.

In the video, Ver describes how an increasing number of apps like Abra, merchants and other businesses are turning to Bitcoin BCH as their cryptocurrency of choice, primarily because of its speed, reliability and low transaction costs.

Now, with full native support for BCH through their app, Abra is hoping to appeal to the growing number of BCH users looking for a mobile wallet solution for handling their BCH holdings.

The support now enables BCH users to send money to their Abra wallet from any BCH wallet, as well as the on-platform storage and investment functionality.

The Abra wallet is a non-custodial wallet—cryptocurrencies and private keys are held only by the users. It is strictly peer-to-peer and doesn’t use an intermediary to hold, manage or access the funds at any time during the transactions.

Barhydt founded Abra in 2014. It has its headquarters in Mountain View, California, with an additional office in Manila, Philippines. Barhydt was a former software engineer with Goldman Sachs before coming up with the idea of Abra. It received $14 million in seed funding by RRE Ventures, First Round Capital and Arbor Ventures, as well as backing by American Express and Ratan Tata.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

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Squire Announces Appointment of New Board Member

VANCOUVER, B.C., Squire Mining Ltd. (CSE: SQR) – September 10, 2018 – Squire is pleased to announce that Stefan Matthews has been appointed to the Board of Directors. Mr. Matthews has significant senior management and executive leadership experience totalling more than 30 years in the technology and online services sector, where he has been responsible for operations in Australia, Japan, Hong Kong, South Korea, Singapore, Spain, Malta and the United Kingdom at CIO, CTO and CEO level. He has been actively involved in several IPOs (Australia and USA) and multiple mergers and acquisitions.

In 2015, Mr. Matthews was a founder and is currently Chairman of the nChain Group, known for global leadership in blockchain and bitcoin research. BMG, a division of the nChain Group has a significant investment in Bitcoin BCH mining, operating a diversified fleet in multiple locations.

Mr. Matthews holds a Bachelor of Financial Administration and a MBA (International Business) from the University of New England.

In connection with his appointment as a director, Mr. Matthews has been granted an incentive stock option to purchase 200,000 common shares at an exercise price of $0.77 per share, exercisable for a term of two years from the date of grant. Squire Mining announces that Owen King has resigned as a director of the Company. The Board wishes to thank Mr. King for his contribution to the Company and wishes him well for the future.

For further information contact:

Simon Moore, President and Chief Executive
Officer Telephone: (604) 929 – 0900

The Canadian Securities Exchange accepts no responsibility for the adequacy or accuracy of this release.

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Thai AML body seeks power to seize crypto assets

Concerned about the growing number of cryptocurrency-related crimes, Thailand’s Anti-Money Laundering Office (AMLO) is looking to expand its powers to allow for seizure of digital assets, including cryptocurrency wallets.

“We have discussed launching our own ‘AMLO Wallet’ to hold or confiscate digital currency from illegal sources,” AMLO Secretary Witthaya Neetitham said during a recent seminar in Bangkok, according to a report from news outlet The Nation.

The desired legislation would also come in handy for the confiscation of cryptocurrency earnings from other crimes. The Nation article cited a case where Thai police had arrested the operator of a child pornography website whose digital wallet contained THB123 million ($3.8 million). “We found bitcoin in his e-wallet, but had to leave it there because we don’t have any regulations [for such seizures],” Police Captain Ekkanit Nathethong said.

Witthaya said that AMLO did have authority over companies licensed by the country’s Securities and Exchange Commission, but when it came to unlicensed entities, “We cannot identify the cryptocurrency operator or receivers when duped victims transfer money to the criminals.”

Chartpong Chirabandhu, of the Office of the Attorney General, shared that prosecutors were limited in their ability to use electronic evidence in building a case against cybercriminals.

Recently, a Finnish businessman was defrauded of $24.4 million worth of cryptocurrencies by Thai suspects, who have since admitted to the crime and are participating in negotiations for the return of the stolen amount. The suspects had invested the funds of Aarni Otavi Saarimaa in three companies, before running off with the money.

Colonel Pisal Erb-Arb, deputy commander of the Narcotics Suppression Bureau, proposed a working panel tasked to fight cybercrime. “We need to hurry. Thailand is a haven for money laundering that finances terrorism,” said Pisal, who helped with the arrest of Alexander Cazes, founder of dark web marketplace AlphaBay, where users transacted in cryptocurrencies.

The Thai government has made several policy changes with its growing awareness of cryptocurrencies. Last month, the Bank of Thailand, the country’s central bank, reversed its earlier ban on banks engaging in cryptocurrency-related activities. Now, banks are permitted to create subsidiaries for the purpose of cryptocurrency transactions, issuance of tokens, and the like.

The SEC began its regulation of cryptocurrency-related activities last May, and has approved five exchanges and two dealers since.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

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Bitmain launches World Digital Mining Summit in Tbilisi, Georgia

Bitmain CEO Jihan Wu and Roger Ver, CEO of Bitcoin.com Head Speaker List

When Cryptocurrency and Digital Mining Leaders Convene In Tbilisi on September 21-23

TBILISI, Republic of Georgia, August 28, 2018 – Bitmain Technologies Ltd, a world leader in blockchain hardware, software, and services, has partnered with BitKan to host the inaugural World Digital Mining Summit on September 21st to 23rd: a three-day industry insight and networking summit held in Tbilisi, capital city of Georgia. The World Digital Mining Summit will feature 30+ speakers and up to 1,000 attendees.

Keynote speakers include Jihan Wu, co-founder, co-CEO of Bitmain, Roger Ver, CEO of Bitcoin.com and Amaury Séchet, Bitcoin ABC developer and lead developer of Bitcoin Cash, who will discuss eco-system developments and the November 2018 protocol upgrade. Participants can also expect discussion on the future in digital mining and cryptocurrency, as well as the unveiling of key technological advancements in ASIC cryptocurrency mining hardware.

“The World Digital Mining Summit brings together cryptocurrency miners and blockchain enthusiasts to connect, learn and build their network while exchanging face-to-face insights with industry leaders,” said Gadi Glikberg, VP of International Sales at Bitmain Technologies, “We are excited for what is shaping up to be the leading crypto mining event of 2018, held in the historic city of Tbilisi.”

As the second largest cryptocurrency mining country globally, the Republic of Georgia serves as the ideal backdrop for the World Digital Mining Summit. According to the World Bank, blockchain technologies are widely used in Georgia due to a supportive environment for the mining of cryptocurrencies and technology innovation. Underscoring this trend is the country’s use of blockchain to digitize and streamline public services. Beyond its blockchain leadership, Tbilisi is attracting global visitors, ranked as a “top ten” travel destination for 2018 by National Geographic.

For all information on tickets, travel-accommodation and sponsorships, please visit.

Founded in 2013, Bitmain transforms computing by building industry-defining technology in cryptocurrency, blockchain, and artificial intelligence (AI). Bitmain leads the industry in the production of integrated circuits for cryptocurrency mining, as well as mining hardware under the Antminer brand. The company also operates the largest cryptocurrency mining pools worldwide—Antpool.com, BTC.com and connectBTC.com—as well as hashnest.com, a leading cloud mining platform. Bitmain technology supports a wide range of blockchain platforms and startups.

Contact:

Libby Freeman
Phone: +1 415 486 3207
bitmain@edelman.com

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Dr. Craig Wright sums up perfectly what cryptocurrency is meant to be

Cryptocurrency was originally conceived as an alternative to fiat currency, one that would solve a number of problems and offer a simple peer-to-peer payment option. Since its original design by Satoshi Nakamoto, a number of digital currencies, including Bitcoin BTC, have strayed from the original concept. Dr. Craig Wright recently published an insightful Medium post that best summarizes what cryptocurrency is supposed to be, an anonymous currency.

The post, The crypto-ring of Gyges, Wright draws an analogy from Plato’s The Republic. He highlights the anonymity enjoyed by the Gyges of Lydia after he finds a magic ring that allows him to become invisible.

Plato writes on how Glaucon remembers the Gyges story, saying, “Suppose now that there were two such magic rings, and the just put on one of them and the unjust the other; no man can be imagined to be of such an iron nature that he would stand fast in justice. No man would keep his hands off what was not his own when he could safely take what he liked out of the market, or go into houses and lie with any one at his pleasure, or kill or release from prison whom he would, and in all respects be like a god among men.”

The result is the actions of the just produces the same results as those of the unjust – they all end with the same conclusion. According to Wright, “Anonymity does not help people become more private for privacy is not the absence of control.”

Cryptocurrency is, above everything else, electronic cash that can be sent directly from one person to another. Privacy allows for people to cover their tracks while, at the same time, offering the necessary proof to substantiate the activity. This, explains Wright, is where many cryptocurrencies go wrong with their privacy coins. He says, “Fungibility is not about an unknown but rather a proof of valid ownership.”

Making a purchase in a retail establishment doesn’t require complete anonymity. It does, however, require a level of privacy that allows for a purchase to be made without it being traced, as well as proof of payment. Bitcoin BCH covers these requirements.

All governments expect their citizens to show the source of their income. Bitcoin BCH provides the ability to show the source while remaining private to the rest of the world. However, almost all of the privacy-focused coins anonymous coins fail in this regard. Anonymity does not equal privacy.

Explains Wright, “Anonymity only helps corrupt governments and criminals. It is these people in these groups who seek to hide in the shadows. It is not privacy they seek, but the ability to defraud others and hide what they are doing. Bitcoin allows a user of money to prove that they had a valid right to that money. They can show receipt and ownership. Yet at the same time they can remain private.”

Cryptocurrency doesn’t need to be anonymous. It needs to be private, certainly, and this can come through how the crypto wallet is developed, but does not require protocols to be completely rewritten. Those who push for truly anonymous solutions are not as interested in creating a digital cash solution as they are in allowing corrupt governments to hide money.

Cryptocurrency is only successful as a private – not anonymous – peer-to-peer currency. This is why Bitcoin BCH has continued the original design of digital currency and why it the only option that can develop the currency of the future.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

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Japan wants to move voting to the blockchain

Japan has already shown itself to be a believer of the blockchain and cryptocurrency. It is working diligently to properly regulate the industries while allowing for strong innovation, which will lead to increased acceptance. Now, the country is set to explore the use of the blockchain as a vehicle for digital voting, which could revolutionize voting processes around the world.

In the Japanese city of Tsukuba, citizens will participate in a blockchain-based voting test for “social contribution projects.” The pilot will verify individuals’ identities by way of Japanese identification cards to ensure that the votes are legitimate. It will work the same as a “traditional” voting process, but votes will be made through a secure digital screen tied to the blockchain, instead of ticking a box on a paper ballot.

The system was already tested by the city’s mayor, Tatsuo Igarashi, who admitted that it was simple. He stated, “[I] had thought it would involve more complicated procedures, but I found that it’s minimal and easy.”

In spite of its simplicity, the rollout hasn’t been as efficient as city officials had expected. Voters have to apply for a password, which many forgot when it came time to place their votes. Additionally, it wasn’t always apparent that a choice on the ballot had been made. However, since it is only a test and tests are designed for exactly this reason, it was still a success.

West Virginia in the US began testing a blockchain-based voting system for remote military personnel earlier this year. That system incorporates facial recognition alongside ID cards to verify identities and is the first blockchain-supported voting system backed by a government in the country.

Several other governments have been contemplating or testing the use of the blockchain for voting activity, as well. Maine is looking into the feasibility of using a blockchain-based voting system, while Switzerland launched a pilot program for municipal voting in Zug this past June and July.

As cryptocurrencies are poised to revolutionize global economies, the blockchain will do the same for a great number of industries. Its secure and immutable properties make it the perfect solution to solve a number of problems that plague markets such as supply chains, elections, counterfeit goods and many more. Undoubtedly, we are in the early phases of a new global paradigm of how we do business.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

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Ukrainian Farmer’s Market now accepts Bitcoin BCH, other crypto

A Farmer’s Market in the Ukrainian capital of Kiev now offers its patrons the ability to buy their fruits and vegetables with Bitcoin BCH and other cryptocurrencies. The Bessarabian market is testing a project with crypto payment processor Paytomat that allows users to pay for a variety of products using one of the 11 supported cryptocurrencies. It’s another example of the continued advance of digital currency as a legitimate alternative to fiat.

According to Paytomat’s operational director, Aleksandr Kuinnoi, “At the moment this feature is working in test mode at a single vendor. With the help of a cryptocurrency wallet app customer can scan QR-code. After this, the customer is automatically transferred to the cryptocurrency converter page where he needs to enter the purchase price in hryvnias. Next, the customer transfers payment to merchant’s wallet in cryptocurrency of their choice and after the merchant gets a notification of funds being received, this transaction comes to a logical conclusion.”

The pilot program settled on the Bessarabian market due to its popularity. Kuinnoi explained, “The main idea is the symbiosis of traditions and innovations. We chose [the] Bessarabian market because it is a well-known tourist attraction and cryptocurrencies are a universal payment tool in any country.”

Paytomat has become one of the most productive crypto payment solutions in the Ukraine. It has rolled out a number of payment services that are now seen in beauty salons, schools, online stores, cafes and clinics around the country. It now works with more than 330 merchants and provides a variety of solutions, including point-of-sale terminals, QR code solutions, web panels and a plugin for WordPress to allow a site to act as a cryptocurrency gateway.

Cryptocurrency regulation in the Ukraine is approaching quickly. It still isn’t ready to be accepted as a recognized legal tender, but the more it is accepted as a fiat alternative, the better its chances are of mainstream adoption.

As proven by the recent stress test, Bitcoin BCH has been shown to have one of the strongest cryptocurrency blockchains. It’s because of this, in part, that the digital currency is a favorite among retailers, as it provides fast transaction times at extremely low costs. As each day brings new adoption of the cryptocurrency, it will continue to prove itself as the perfect global retail digital currency.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

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Future Firefox browsers to block cryptojacking malware

Mozilla, the company behind popular web browser Firefox, is gearing up to automatically block malware scripts, including those that “silently mine cryptocurrencies” in future versions of Firefox.

Last week, Mozilla announced that it will soon implement an initiative to “protect users by blocking tracking while also offering a clear set of controls to give our users more choice over what information they share with sites.” The company cited Ghostery study, which noted that 55.4% of the total time required to load an average website is usually spent loading third-party trackers. For the users with slower networks, the loading time is even worse.

“Deceptive practices that invisibly collect identifiable user information or degrade user experience are becoming more common. For example, some trackers fingerprint users — a technique that allows them to invisibly identify users by their device properties, and which users are unable to control,” according to Mozilla. “Other sites have deployed cryptomining scripts that silently mine cryptocurrencies on the user’s device. Practices like these make the web a more hostile place to be. Future versions of Firefox will block these practices by default.”

This is the reason why Mozilla’s future web browsers will be equipped with a new feature—found in Firefox Nightly—which will block trackers that slow down page loads. This feature will be tested using a shield study starting September, and if the approach performs well, Mozilla plans to start blocking slow-loading trackers by default in Firefox 63.

The company has already stripped cookies and blocked storage access from third-party tracking content, a feature that Firefox Nightly users can already test out. If all goes according to plan, Mozilla said it will bring the protective feature to all Firefox 65 users.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

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