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Eligma Raises Additional €4 Million Equity Investment at €50 Million Valuation

08/01/2021 by Idelto Editor

Eligma Raises Additional €4 Million Equity Investment at €50 Million Valuation

PRESS RELEASE. Crypto payments startup Eligma has announced it recently completed a new funding round of €4 million at a €50 million valuation. The latest investment was funded by Roger Ver through Bitcoin.com, and was mainly initiated due to Eligma’s ongoing efforts to comply with any and all regulations.

This approach to regulations has made it possible for Eligma to connect with the largest processors in the world and, through such partnerships, offer a unique combined solution of processing any payments (card payments, other digital payments and of course crypto payments). Eligma is now at the brink of revolutionizing the payment experience in offline retail, where any additional hardware will no longer be required.

Bitcoin.com and Eligma share the common goal of bringing cryptocurrencies into the mainstream and revolutionizing the world of payments with the advantages of the digital age. The Eligma company has been recognized as one of the world’s most promising startups in this field. With the ability to process any kind of payment, it can now also start setting up a tokenomics model that is not only connected to crypto payments, but also to various traditional payments (except cash). In this way, Eligma could convert a part of the card and digital payment fees into the GoC token and thus achieve a transition of traditional money into crypto. More on this topic will be revealed in the upcoming weeks.

“The new holistic technology will bring the world of payments to a whole new level, where shoppers will be able to use diverse fast (and often contactless) payment methods, and where merchants will benefit from a smooth and effortless sales process regardless of how the customer selects to pay – by using an all-in-one solution. We will be posting more on our progress on a weekly basis for the next 6 weeks,” the Eligma team said.


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Filed Under: Bitcoin.com, cryptocurrency, eligma, English, Gocrypto (GOC), investment, News Bitcoin, Point of Sale (POS), Press release

Bitcoin.com Co-founder Files Legal Action Against Bridge.link Token Project Over Market Manipulation

04/01/2021 by Idelto Editor

Bitcoin.com Co-founder Files Legal Action Against Bridge.link Token Project Over Market Manipulation

PRESS RELEASE. Bitcoin.com Co-founder Mate Tokay is filing legal action against the founders of Bridge.link for failing to distribute a significant portion of BRG. Tokay was hired as an advisor for the Bridge.link project and was promised 37.5 million BRG for compensation. However, Tokay was never paid for his services, even though Bridge.link used his name for recognition, and managed to raise $6 million in six hours.

  • BRG Investors have been misled as investors have not been paid contractual obligations and the circulating BRG supply is incorrect.
  • Mate Tokay is filing legal action against the Bridge.link token project and principal founder Mr. Sina Estavi.
  • Tokay has informed other crypto industry market leaders, price aggregations sites, and relevant exchanges of the massive discrepancy the Bridge.link founders fail to disclose.

Over three months ago, the Bridge.link team raised millions of dollars in a public token sale, but have failed to compensate one of the key advisors. Bitcoin.com’s cofounder Mate Tokay entered into a contract with the Bridge.link or Bridge Oracle team members and was supposed to be paid 37.5 million BRG. Moreover, BRG’s circulating supply is much smaller than what’s being reported on crypto market valuation web portals.

When the payment was due, Bridge.link and it’s principal founder Sina Estavi refused to compensate the Bitcoin.com founder for his advisory services. Instead, Estavi tried to settle with Tokay offering a far lower sum than what was owed. Despite the contract, Estavi said he would not settle with Tokay for the sum of 37.5 million BRG and allegedly advisors have been treated similarly.

With contractual obligations to Tokay and likely other advisors, the circulating supply recorded on the web portal coinmarketcap.com is incorrect. The discrepancy means that Bridge.link and its principal founder Sina Estavi are manipulating the market by including tokens intended to be paid out to Tokay and numerous advisors.

“It’s unfair to BRG investors,” said Bitcoin.com’s cofounder Mate Tokay. “Coin market cap aggregators show a much larger BRG supply than there actually is. This is clearly market manipulation by disallowing BRG investors from spending their tokens,” Tokay added.

Bitcoin.com’s co-founder further stressed:

The Bridge.link founders should enter these tokens into the contract and disperse the funds to the rightful owners. BRG investors are being misled and Bridge.link’s actions could damage innocent individuals who participated in the public offering.

Tokay believes that there is no other choice but to take this matter to the proper authorities and file legal action against the Bridge.link token project and its founder Sina Estavi. He believes that Bridge.link should rectify the situation as quickly as possible before BRG investors become victim to a classic pump and dump. In addition to legal action, Tokay has contacted relevant crypto industry services like exchanges to notify them of the BRG market manipulation.


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post Bitcoin.com Co-founder Files Legal Action Against Bridge.link Token Project Over Market Manipulation appeared first on Bitcoin News.

Filed Under: Bitcoin.com, Bridge.link, English, legal action, market manipulation, Mate Tokay, News Bitcoin, Press release, Sina Estavi

Kim Dotcom’s Next-Generation Content-Monetization Service K.IM Announces Bitcoin Cash Integration

04/01/2021 by Idelto Editor

Kim Dotcom’s Next-Generation Content-Monetization Service K.IM Announces Bitcoin Cash Integration

PRESS RELEASE. Megaupload creator Kim Dotcom announced this month to use Bitcoin Cash for his newest innovation, K.IM, a suite of tools to enable anyone around the world to manage, protect and sell digital content at ultra-low fees and without intermediaries.

Dotcom, who’s website Megaupload was once the 13th most popular site on the Internet and responsible for 4% of all Internet traffic, said K.IM turns “digital files into file shops. Users can use our service to package a file that they want to sell into an encrypted container file and then they can place it anywhere on the Internet. Customers who want to access the content inside the encrypted container can make a payment using cryptocurrency like Bitcoin Cash.”

Asked why he was excited about K.IM and Bitcoin Cash in particular, Dotcom said that while Bitcoin (BTC) has been a great tool for asset storage, Bitcoin Cash is “great for payments” for services like K.IM and offers new financial opportunities for consumers, vendors and investors. Kim had the following to say about the crypto market:

“My opinion is that crypto use is on the rise and BCH is in a good position to accumulate market share. For me it’s simple: The more users you have the more value you have.”

“The winners in the crypto race will be decided by vendors and users. Focus on the fundamental question: What do vendors and users want? Low fees, fast transactions, high security and ease of use.”

He went on to say that Bitcoin Cash was currently “undervalued” and that the “upside potential for those who missed the BTC train” is enormous. Bitcoin.com Founder and friend of Dotcom, Roger Ver, said that Dotcom has “always been ahead of the rest of the market and that people should pay attention to his predictions”. He went on further to say:

“When you look at interest in BTC these days, a lot of it comes in trying to chase its historic investment gains. As long as the price keeps going up, there is going to be a lot of interest. But what happens when people want to start actually using it to pay for things? They will discover the limitations of Bitcoin and look for an asset that can be both an investment and a true peer-to-peer payment system like Bitcoin was originally meant to be. That’s what Bitcoin Cash is.

Speaking further on Bitcoin Cash, Ver said the following:

It has all the great qualities that helped BTC become a store of value but it’s not artificially rate limited. Entrepreneurs like Kim Dotcom can actually use it to build their business without relying on central parties to provide payment layers. It’s not surprising that he would be so bullish about Bitcoin Cash.”

Ver said that K.IM is one of the most exciting products he’s seen in years and has the potential to get millions of people using cryptocurrencies like Bitcoin Cash which can handle the massive volume Dotcom’s businesses have created in the past.

K.IM is currently in development with updates coming soon. The platform is expected to launch in Q4 of 2021. To find out more information visit the K.IM website today.

About K.IM

Providing advanced services and technologies to manage, protect and sell digital content, K.IM will revolutionise the monetisation of digital content and create a fair market for content creators and consumers.

KIM is the source of this content. This Press Release is for informational purposes only.

 


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post Kim Dotcom’s Next-Generation Content-Monetization Service K.IM Announces Bitcoin Cash Integration appeared first on Bitcoin News.

Filed Under: BCH, Bitcoin Cash, Bitcoin.com, English, K.im, Kim Dotcom, News Bitcoin, Press release

8 Beginner Bitcoin Questions Answered

24/12/2020 by Idelto Editor

I asked some friends who were Bitcoin noobies what they wanted to know about Bitcoin, and was ready with some answers. Here’s what we came up with.

Common Questions about Bitcoin, Answered

  1. How does mining work?

Mining is a key component of the Bitcoin system. It helps secure the network, is integral to the issuance of new coins, and in a sense ties everything together. But how does it work?

Well, it’s slightly complicated, so I’ll try to explain it in a condensed way that is simple but not “too simple”, so you hopefully get the gist of it:

On average every ten minutes, transactions on the Bitcoin network are bundled together into a “block”. But in order for a block to be accepted by the network, the creator of the block (i.e. “the miner”) needs to prove they did the proper “work”. This is known as “proof of work”.

8 Beginner Bitcoin Questions Answered

Think of it like this: In order to create a block, you have to solve a math puzzle. The puzzles are hard to solve, yet easy to verify (sort of like a Sudoko puzzle). When a miner sends a solved block to the network, the other miners can quickly check if it’s correct, and then everyone starts working on the next block.

Obviously, unlike Sudoko puzzles, these proof-of-work “math puzzles” are solved by computers running the Bitcoin software, rather than people using a pencil and paper.

The puzzles are solved using brute force trial and error. There are scads of combinations tried every second from miners all around the world. In fact, a single miner will be computing trillions of “hashes” per second. You may hear the word “hash” or “hashing” being thrown around quite a bit in Bitcoin conversations. (You don’t really need to know what a mathematical hash function is, but essentially it is the math puzzle I am referring to).

In the early days of Bitcoin, mining could be done on any computer, simply with the computer’s CPU. Over the years, mining moved away from CPU to GPU, then to FGPAs, and finally to ASICs (Application Specific Integrated Circuits). Today, you need a specialized ASIC piece of hardware to mine (ordinary computers are far, far too slow.)
When a miner produces a block, they have to bundle all the transactions that will be included, and also refer back to the previous block. All this gets put into the hash function. Because each block refers to the previous, together they make a chain of blocks (hence the term “blockchain”).

Since the blocks are chained together, this is what creates the security for Bitcoin. No one can build an alternate history of transactions without redoing all the work for those blocks, and if this is attempted, the attacker will be too slow compared with the rest of the network that is continuing to extend the blockchain.

In addition to the normal transactions being bundled into blocks, miners are also allowed to include a special transaction on each block, called a coinbase transaction, which awards the miner with freshly minted coins. Thus, the mining process provides an economic incentive to participate in providing security, while it at the same executes the issuance schedule.

“Network hashrate” refers to the total aggregate amount of mining being done by all miners on the chain, and this tends to follow the price of the coin. The greater the financial rewards, the more the system attracts miners to compete for those rewards.

Finally, there is a difficulty adjustment, whereby, periodically the network will make it either easier or harder to solve blocks, based on how fast (or slow) blocks have been coming in. As the hashrate goes up, the difficulty will also adjust upwards, and the system will continually keep adjusting so that the average time between blocks is ten minutes.

  1. What are the other major coins besides Bitcoin (BTC)?

Ethereum (ETH) is the #2 coin by market cap today. Ethereum is similar to Bitcoin in that it uses an open source blockchain system, but it is more focused on smart contracts, which are computer programs that automatically execute agreements without the need for trusted intermediaries. Ethereum is often touted as being a kind of “world computer”, and is currently a backbone of decentralized finance (“DeFi”). Ethereum also hosts other coins known as “tokens”.

XRP (XRP) is a currency that runs on Ripplenet, a creation of Ripple Labs company. It aims to be an alternative to legacy financial systems like Swift. Unlike Bitcoin and Ethereum, XRP doesn’t use proof-of-work and instead is based on trusted validator nodes, which include universities and banks. XRP coins are issued by Ripplelabs.

Tether (USDT) is a coin that is pegged to the US dollar (also called a stablecoin). It doesn’t have its own blockchain and instead is issued on other blockchains including BTC, ETH, and BCH.

The peg is achieved by the Tether company maintaining dollars in a bank account, and other assets, equivalent in value to the number of circulating tethers. Tether has claimed that the coin is fully backed by USD reserves and similar assets, but some doubt this and Tether’s reserves have never been fully audited by a third party.

Litecoin (LTC) is similar to Bitcoin and is based on the Bitcoin protocol, but introduces some small changes, including faster block times and a different hashing algorithm. This algorithm was originally intended to allow more users to mine the coin, even if they do not have access to ASICS, although today ASIC mining has taken over LTC as well. Litecoin was created in 2011, making it one of the oldest coins.

Bitcoin Cash (BCH) is another major coin, and is a fork of Bitcoin (BTC). Forks allow factions of a community to split and go their separate ways when they run into irreconcilable differences. When there is a chain-split and one version of a coin splits into two different projects, holders of the original coin will then own coins on both networks.

The Bitcoin Cash project was born out of a chain split when the Bitcoin community could not agree on scaling the network in 2017. The side known as Bitcoin (BTC) has the clear economic majority at least in terms of price, but Bitcoin Cash has strong philosophical reasons for existing — namely, to continue the Bitcoin project as was originally intended: as reliable peer-to-peer electronic cash with low fees. By contrast, BTC has a limited capacity, which results in frequent periods of congestion and high fees when too many people try to use the blockchain at the same time.



3. What is the best Bitcoin wallet?

There are many options for Bitcoin wallets, and which is “the best” depends on your goals and level of experience. The highest security and most privacy comes from running your own Bitcoin full node, but this is not practical for most users, nor is it necessary.

For many users, the “best” (in my opinion) is the Electrum wallet (or Electron Cash for BCH) because it allows you to have high security without downloading the blockchain or running your own node. A distributed set of servers handle the heaviest parts of blockchain operations, but your own private keys to your coins are never sent to servers and only sign transactions locally. The electrum class of wallets are also open source, which increases their trust.

Another nice option (super for beginners) is the Bitcoin.com wallet. It’s a great way to get started using Bitcoin. It’s safe and easy.

4. How can I store Bitcoins safely?

Generally, your bitcoins should be stored in your own wallet and not kept on an exchange. As the old saying goes, “not your keys, not your coins”. This means that technically speaking when you have your coins on an exchange, you don’t actually own any coins. Instead, what you have is an IOU from the exchange.

Although this may feel like an unimportant distinction on the surface, there are real risks of keeping your money on an exchange. These risks include the exchange refusing to return your funds (either because of malice or regulatory issues), or the exchange getting hacked or going out of business, or a hacker getting into your account. If you must keep coins on an exchange, make sure to use a strong password and two-factor authentication (2fa).

When you have your coins in your own wallet, you are immune from many of the risks, but your coins can still be lost if you don’t back up your wallet and your computer dies, or if a hacker gets access. Keeping your computer up-to-date with malware and antivirus protection is recommended.

8 Beginner Bitcoin Questions Answered

For even better security, you can look into using a hardware wallet, a paper wallet, or a cold storage wallet. We don’t have room here to do a deep dive into each of them, but it’s an excellent place for any aspiring Bitcoiner to start researching.

  1. How do you know if a bitcoin transaction is legitimate?

Beginners wonder how it’s possible to know if a Bitcoin transaction is legit if it’s just a bunch of data. Can’t that be faked? The short answer is that your wallet knows whether a transaction is valid, and usually won’t even display an invalid transaction.

As to how the wallet knows this, Bitcoin transactions must follow a very specific format, and can only spend coins (also sometimes called “inputs”) that are themselves valid and only if the user (wallet) can produce the correct digital signature.

  1. Is Bitcoin anonymous?

Yes and no. While Bitcoin transactions are not completely anonymous, not all transactions have a clear identity associated with them.

The privacy model for Bitcoin is different from traditional finance. Actually, the Bitcoin whitepaper has a nice diagram for this:

As you can see, in the traditional world of finance, transactions are shielded from public view, but “trusted third parties” know everything. Those trusted parties include banks, credit card companies, and so on.

In the Bitcoin model, the public can see all transactions, but there is no identity that is required to use the network. But in practice, can analysts use heuristics and algorithms to uncover who is behind certain transactions?

In many cases, they can. For example, if you withdraw Bitcoin from an exchange to your own wallet, the exchange knows who you are. If you then send the coins from your wallet to someone else, the second transaction can also be assumed to be from the same person.

There are several methods available if you want to make your Bitcoin transactions more private. One is to first exchange your coins for another coin that offers better privacy features (such as Monero or Bitcoin Cash), and then exchange them back to BTC.

  1. How are Bitcoins taxed?

Tax law is complicated and varies widely based on jurisdiction. I am not a tax professional and you should always seek professional tax advice when it comes to finances.

That said, it appears taxes on Bitcoin are not particularly different from other assets. When you sell Bitcoins, it is generally a taxable event and taxes are owed on the profits. Unrealized profits are generally not taxed (for example, if you hold coins and don’t sell).

  1. Where can you spend Bitcoins?

You can spend Bitcoins and other cryptocurrencies anywhere they are accepted. Often, online shops offer more cryptocurrency adoption than retail settings. One great place to find stores that accept crypto is map.bitcoin.com.

Another option is to get a crypto-based debit card. For example, this one from Bitpay. This allows you to load your coins and spend them anywhere debit cards are accepted (which is basically everywhere).

What do you think about the eight beginner questions answered? Let us know what you think about this subject in the comments section below.

The post 8 Beginner Bitcoin Questions Answered appeared first on Bitcoin News.

Filed Under: BCH, beginner, Bitcoin, Bitcoin Cash, Bitcoin.com, Bitcoin.com Wallet, BitPay, BTC, crypto, cryptocurrency, English, Litecoin, LTC, News Bitcoin, Op-ed, privacy

Bitcoin.com Wallet Adds Shareable Payment Link Feature – Send Bitcoin Cash to Anyone via Text, Email, and Social Media

10/12/2020 by Idelto Editor

At Bitcoin.com, our team is all about spreading the benefits of peer-to-peer electronic cash and our flagship wallet is a testament to our team’s passion. Bitcoin.com’s noncustodial crypto wallet recently upgraded and now offers a new payment link feature that allows anyone to send bitcoin cash by email, and even social apps like Whatsapp, Facebook, Slack, Telegram, and Instagram.

Just recently the Bitcoin.com Wallet added a number of new features in the latest 6.10.3 version release. The Bitcoin.com Wallet is a noncustodial bitcoin cash (BCH) and bitcoin (BTC) client that also allows users to store SLP-based tether USDT stablecoins, and Simple Ledger Protocol tokens as well.

In the latest edition of the Bitcoin.com Wallet, our software development team has made it much easier to send transactions in a few different ways. On November 24, the BCH proponent David Bond (@hellodavidbond) tweeted about the Bitcoin.com Wallet’s new “Send Anywhere” feature.

“The Bitcoin.com Wallet now allows you to send [bitcoin cash] the same way you’d share a link, or meme. This is awesome,” Bond tweeted.

Bitcoin.com Wallet Adds Shareable Payment Link Feature - Send Bitcoin Cash to Anyone via Text, Email, and Social Media
After depositing $2 worth of bitcoin cash into the wallet, I simply pressed send and the client allows you to choose the “shareable link” feature.

With the new Send Anywhere feature from the Bitcoin.com Wallet, sending BCH gifts during Christmas or during the Chinese New Year has never been easier. In order to leverage the new Send Anywhere feature, Bitcoin.com Wallet users need to upgrade to the latest 6.10.3 client version.

After depositing some funds into the BCH wallet, simply press “send” to create and send a shareable link. In addition to sending to any BCH wallet by scanning a QR code or sending to one of your own BCH wallets, the client offers a choice called: “shareable link.”

Bitcoin.com Wallet Adds Shareable Payment Link Feature - Send Bitcoin Cash to Anyone via Text, Email, and Social Media
After selecting the shareable link feature, I simply pressed send all and continue and the wallet creates the URL link which can be shared with anyone and anywhere.

Following pressing the “shareable link” tab, the wallet directs you to the page where you enter the amount of bitcoin cash you want to send. With my test wallet containing $2 in bitcoin cash (BCH), I simply pressed “send all,” and pressed “continue” to finalize the transaction. After pressing “continue,” the Bitcoin.com Wallet will create a URL link with the bitcoin cash that can be sent using nearly any application on the web.

You can send the shareable link via text message, email, Twitter, Facebook, Whatsapp, Slack, Telegram, and basically anywhere you can share a link. Now, remember, you probably want to send the link privately, rather than sharing it in public, as anyone with access to the link can scan the funds.

Bitcoin.com Wallet Adds Shareable Payment Link Feature - Send Bitcoin Cash to Anyone via Text, Email, and Social Media
The wallet allows you to interact with the various methods of sending whether it be on Telegram, email, Facebook, Twitter, Instagram, SMS text, and other online web portals and messaging apps.

After the creation of my $2 BCH payment link, the Bitcoin.com Wallet gave me a choice to send it via a myriad of applications on my device. Since this was only a test, I sent the bitcoin cash to myself via SMS text message, and instantly received the shareable link.

Bitcoin.com Wallet Adds Shareable Payment Link Feature - Send Bitcoin Cash to Anyone via Text, Email, and Social Media
This is an example of the payment link that I sent to myself as an experiment via text message. In order for someone to access the funds, they simply need to scan the QR code using their Bitcoin.com Wallet. Of course, the link shown in this screenshot has been used when I finished this test.

Opening up my Bitcoin.com Wallet version 6.10.3, I selected the little scan QR icon on the top right-hand side of the application, which is located next to the notifications bell icon. I simply scanned the payment link’s QR code, and my $2 worth of bitcoin cash (BCH) was instantly added to my wallet.

Another cool thing about the Bitcoin.com Wallet’s Send Anywhere feature is that if the recipient does not deposit the funds, the user can simply reclaim the bitcoin cash any time they want.

The latest wallet version still gives users the ability to safely store multiple crypto assets including BCH and BTC, offers a portfolio breakdown, the ability to hold stablecoins, and the capacity to purchase and swap coins in a matter of minutes as well. With our secure and super fast Bitcoin.com Wallet, the latest Send Anywhere feature makes sending cryptocurrency to anyone worldwide extremely easy.

What do you think about the latest Bitcoin.com Wallet feature? Let us know what you think about this subject in the comments section below.

The post Bitcoin.com Wallet Adds Shareable Payment Link Feature – Send Bitcoin Cash to Anyone via Text, Email, and Social Media appeared first on Bitcoin News.

Filed Under: Asset Breakdown, BCH, Bitcoin, Bitcoin Cash, Bitcoin.com, Bitcoin.com Wallet, BTC, Email, English, Facebook, Honestcoin (USDH), Lightning Fast, News Bitcoin, Noncustodial, Payment Links, Portfolio, Promoted, Send Anywhere Feature, shareable link, Simple Ledger Protocol, Slack, SLP, SLP tokens, Stablecoin, swaps, Telegram, Text, Twitter, URL Links, USDH, Wallet, WhatsApp

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