New Tron (TRX) Chrome Wallet Extension TronPay For Web Browsers Launches

The new TronPay Chrome wallet extension, which works like MetaMask but for Tron, is out now. This was recently announced by Justin Sun on Twitter. Sun, the founder of the Tron Foundation, has affirmed that the community has developed the product to support the Tron network and that it is now available in multiple languages.

This brand new service will act just like MetaMask, the popular Ethereum app. It was created to easily allow any user to send and receive TRX tokens and to create a simple overlay integration with the network when using third party decentralized apps.

Tron On The Rise

Tron continues to see significant transaction growth and has recently reached about a million transactions daily, which is double of what Ethereum has today, making this a very significant number.

The main reason why the number of transactions in the Tron network is going up is that there are many betting decentralized apps being launched on the platform now like the popular TronDice and TronBet. Both of them now have passed a payout of 200 million TRX tokens and both will be easily accessible via the new TronPay option.

At the moment, the market cap of Tron is $1.51 billion USD and it is the 10th largest token in the market.

Circle Invest Adds Basic Attention Token (BAT) Crypto Asset For Its “Potential”

In a recent blog post from Circle, the company took the time to tell users about a new token that will be available to them called the Basic Attention Token (BAT). This token marks the 12th crypto asset on their investment platform, and they are providing consumers with the option of purchasing the tokens individually or through their crypto portfolio option.

According to the post, the reason they chose BAT was due to “its potential to contribute meaningful innovation to the broader crypto ecosystem.” Their evaluation of the asset was done with the Circle Asset Framework. The factors considered are found in a three-page PDF document on the Circle website. They evaluate the market dynamics, the business model, the team, the technology, and the overall fundamentals of each asset in depth to ensure that it will benefit their trading platform as well.

Even though it will benefit BAT to be listed with Circle Invest, it comes with its own benefits. The blog says that this token is working on changing online advertising, bringing in the Brave browser. This browser is created with the ability to watch the activity of the user, giving them the option to pay in BAT for engaging in content.

Brave also provides an opportunity for users to be paid in BAT by advertisers that play their advertisements. Though it isn’t an option at the moment, the creators of BAT also want to get involve with other web browsers for the same benefits.

Man Sentenced to Seven Years In Jail After Cryptopay Crypto Exchange Bombing Attempt

A Swedish man was recently convicted for trying to bomb a crypto exchange in London recently. He sent a letter bomb to the company and have also sent threatening letters to lawmakers in Sweden. The man, Michael Salonen, 43, was convicted to seven years in prison by a Swedish court of the Stockholm District.

The court has affirmed that the main mailed a package containing a total of two pipe bomb devices to the London crypto exchange Cryptopay in August 2017. The packages were addressed to two employees of the company. The boxes were opened but, fortunately, none of the devices actually exploded. After the case, the British police used DNA samples to link the case to Salonen.

After being indicted, Salonen was considered guilty of 20 counts of threats for including the explosives and for sending threats to lawmakers also in 2017. The letters contained a white powder but it was inoffensive.

Of the people who received the letters was the Prime Minister of Sweden, Stefan Lofven. He received a handwritten letter with the following text: you will soon be dead. The letter was intercepted on August 30, 2017.

The man was arrested after landing in Stockholm, as he was in Thailand previously. Despite the severity of his crimes, he only was sentenced to seven years in jail.

‘Asia’s Amazon’ Starts Using Bithumb’s Payment Service for Cryptocurrency Users

One of South Korea’s largest cryptocurrency exchanges, Bithumb, has begun providing a cryptocurrency payment service to a major online marketplace it refers to as “Asia’s Amazon.” Korean users can use their cryptocurrencies held at the exchange to pay for purchases on Qoo10 using this service.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
Qoo10 Partners With Bithumb
South Korean cryptocurrency exchange Bithumb announced on Wednesday the launch of its “cryptocurrency payment service” for major online shopping marketplace Qoo10, which it referred to as “Asia’s Amazon.”
The two companies signed a contract in August and have been developing a payment service for Qoo10 that uses Bithumb cash.
A Bithumb representative explained to that for each customer:

Bithumb cash is the total asset [value] of [their] cryptocurrencies and KRW.

Bithumb started offering the “Bithumb cash payment service for Qoo10 from the 5th of this month,” the exchange wrote. This payment option is now listed on the marketplace alongside Payco, Paypal, and E-money.
The representative emphasized that currently this service is only available to Koreans, including those living overseas. Foreigners living in Korea cannot use it, the representative noted, adding that the company is working to make it available to all users.
Qoo10 operates seven localized online marketplaces in five countries, its website details. Bithumb described this marketplace as a Korean e-commerce company that is “the No. 1 shopping mall in Singapore, and has become a leader in Asian e-commerce markets such as Hong Kong, China and Indonesia.”
Crypto Conversion at Market Rates
Bithumb revealed in November last year that it was working on creating a “simple” payment system to allow its members to use their cryptocurrencies and KRW to pay for goods and services, Chosun described.
An official of the exchange explained at the time that all cryptocurrencies held in Bithumb accounts can be used. “The process of converting virtual currencies into Bithumb cash is done automatically based on current market prices,” the news outlet detailed.
The Bithumb representative confirmed to

[Cryptocurrencies such as] BTC will be converted automatically into KRW at the market rate.

Users can specify which cryptocurrencies will be sold first to cover a purchase after the Korean won in the account is depleted.
Sedaily reported in April that shop owners can also choose whether to accept payments in Korean won or cryptocurrencies. However, if a shop owner chooses cryptocurrencies, the amounts at the time of withdrawals may be different from the amounts paid by customers due to price fluctuations of cryptocurrencies. “Most franchisees want to reduce the risk of price fluctuations, so they often choose to work with the won,” the publication quoted Bithumb explaining.
Last month, Singapore-based BK Global Consortium acquired a majority stake in Bithumb, as reported.
What do you think of Bithumb’s partnership with Qoo10? Let us know in the comments section below.

Images courtesy of Shutterstock, Bithumb, and Qoo10.

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The post ‘Asia’s Amazon’ Starts Using Bithumb’s Payment Service for Cryptocurrency Users appeared first on BitcoinLinux.

Nigerian Startups Call for Cryptocurrency Regulation to Stem Investment Outflows

Nigeria’s financial technology startups have called on the Central Bank of Nigeria (CBN) to provide legal guidelines for the cryptocurrency and blockchain industry. A lack of regulation is driving investment out of Africa’s biggest economy to areas like Rwanda and Europe while fomenting uncertainty, according to the Electronic Payment Practitioners Association of Nigeria (E-ppan).
Also Read: Canadian Bitcoin Miner Hut 8 Reports Q3 Loss of $8.7 Million
Lack of Regulation Drives Capital Away

“Investments in blockchain-based financial services such as cryptocurrency are today going to Rwanda and Malta, which have provided regulatory frameworks that guide operators of the technology,” Ade Atobatele, founder of Gboza Gboza Technology Ltd, a member of the E-ppan association, is quoted by the local Guardian newspaper as saying.
Atobatele was speaking at a conference organised by the fintech lobby group in the Nigerian commercial capital Lagos this week. Noting how technology develops at a rate much faster than financial regulators can cope with, he said some regulatory oversight is, nevertheless, needed to give direction and to tackle issues around risk and service delivery. Atobatele lamented:
We have a license with CBN, but our blockchain-based services are being operated in Rwanda, which has offered us the license.
E-ppan is a broad-based fintech industry representative body with links to the Nigerian central bank, particularly “on regulations that govern the electronic payments industry.” The group says on its website that “we influence the policy environment by applying pressure strategically to key decision makers to change the business environment positively.”
‘Cryptocurrency a Gamble’
In 2014 Nigeria eclipsed South Africa as the continent’s biggest economy, with a GDP of $400 billion. But huge inequalities, corruption and illicit financial flows still persist in Africa’s most populous nation. The cryptosphere in Nigeria is trading under caution from Godwin Emifiele, governor of the CBN, who has likened cryptocurrencies “to a gamble.” However, the Nigerian parliament has instituted an investigation into the merits and demerits of adopting bitcoin as a means of payment.

In spite of all that, Nigerians continue to flood the digital currency space in search of cheaper and faster ways to send money abroad – or receive it – and to hedge against inflation and exchange-related losses of the Naira, the local unit. According to Citigroup, Nigerians account for the world’s third largest holdings of bitcoin, as a percentage of Gross Domestic Product, after Russia and New Zealand. Ignoring warnings from financial regulators, a flurry of startups in the country have taken to initial coin offerings or setting up virtual currency exchanges.
Regulation Coming
Speaking at the E-ppan conference, Musa Jimoh, an official with the Central Bank of Nigeria, said regulation is on the way. He detailed:
We are restructuring the licensing regime to accommodate risks that fintech present in the system and how they can work with banks to mitigate those risks. Fintechs are coming up with products and technology that is unmatched with banks, this also needs to be addressed.

According to the the Guardian report, Michael Kiberu, chief executive officer of Vault Bridge, a member of E-ppan, called on regulators in the West African country to learn from countries such as Uganda, Switzerland, Kenya and Japan, where cryptocurrencies operate with some level of legal guidance, allowing capital to flow more freely into the sector.
Calls for regulation of the digital currency landscape may, however, be anathema to some crypto hardliners. Such so-called maximalists advocate the foundational principles of bitcoin, as a currency built for freedom, to resist any form of control, especially that from governments.
What do you think about the calls for cryptocurrency regulation in Nigeria? Let us know in the comments section below.

Images courtesy of Shutterstock.

The Bitcoin universe is vast. So is Check ourWiki, where you can learn everything you were afraid to ask. Or read our news coverage to stay up to date on the latest. Or delve into statistics on our helpful tools page
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France Considers a Flat Capital Gains Tax for Bitcoin

The finance commission in France’s lower house of parliament has reportedly backed plans to decrease taxes on bitcoin sales, putting it on the same level as the standard capital gains tax.

Genesis Mining

30% Flat Tax on Bitcoin Gains

Reuters reports that the finance commission in the lower house of the French parliament has backed plans to ease taxation on bitcoin gains to flat 30 percent. At the current moment, bitcoin gains are reportedly taxed at 36.2 percent rate.

It’s worth noting that this is just the initial hearing and that the amendment isn’t in force yet. In order for it to be enacted, the broader parliament needs to approve it as part of the budget bill.

Genesis Mining

More or Less?

Earlier in April, it was reported that the country’s Council of State has moved to reconsider the way gains stemming from the sale of cryptocurrencies are regulated.

According to those reports, the Council could consider cryptocurrency gains as profits made of “movable property” and, hence, would be subjected to a tax at the flat rate of 19 percent which is substantially lower than the 30 percent backed by the finance commission.

Champs-Elysees and Arc de Triomphe

In any case, the country has been fairly active in terms of legislation in the field of cryptocurrencies. In October BitcoinLinux reported that France is considering enacting a framework which would govern crypto-asset intermediaries. Should it be approved, fiat-to-cryptocurrency exchanges and custodians of cryptographic keys would have to undergo a mandatory registration with the AMF.

These moves are part of the country’s efforts to get a hang on the field. Earlier this year, the French Finance Minister Bruno Le Maire called for making France the epicenter of cryptocurrency and blockchain-based technologies, admitting his previous position on the field:

I was a neophyte a year ago, but now I’m passionate. It took me a year. Let us show a lot of pedagogy with our fellow citizens to make France the first place of blockchain & crypto-active innovation in Europe.

Should Bitcoin be subject to capital gains tax? Share your thoughts below!

Investor Lawsuit Brought Against AT&T, T-Mobile for SIM Swapping Hacks

Leading cryptocurrency investor law firm Silver Miller Law has filed suit against cell phone giants AT&T and T-Mobile on behalf of several digital asset investors who were victims of the identity-theft tactic known as “SIM swapping.” The suit alleges that both companies possessed flaws in their security systems and failed to properly train their employees to work against hackers seeking to gain access to users’ smartphones.SIM swapping occurs when a hacker gathers information on a potential victim, such as their phone password, answers to their security questions and their financial holdings. Once they have the data they need, the hacker will contact the person’s cell phone provider and claim that their SIM card has been lost or damaged and request that a new one be activated, with the end goal of accessing the victim’s finances — in this case, cryptocurrency. The lawyers at Silver Miller Law claim that many of their clients had their crypto wallets drained via SIM swapping techniques, including one individual — an AT&T holder — who had roughly $621,000 stolen despite the phone company’s assurances that security had been beefed up following an earlier hack attempt on his account. Two other instances involved T-Mobile clients, who were ultimately robbed of $400,000 and $250,000 respectively. This is not the only SIM jacking case brought against AT&T; the mobile carrier is also the subject of a separate $224 million lawsuit brought on by Michael Terpin, the founder of angel investment group BitAngels. Terpin claims that the company’s weak security protocols led to his loss of roughly $24 million in crypto funds through two separate SIM swap attacks. In a deposition filed in August, Terpin claims that the hackers obtained access to his phone number with the help of an AT&T customer service representative. The hackers were then able to access his cryptocurrency wallet and steal funds.Terpin states, “What AT&T did was like a hotel giving a thief with a fake ID a room key and a key to the room safe to steal jewelry in the safe from the rightful owner.” He is now seeking roughly $200 million in damages. Silver Miller Law has developed a reputation in the space for bringing investor-led lawsuits to court. Notable judgments and settlements in the firm’s history include Liu v. the Florida-based cryptocurrency exchange Cryptsy, in which roughly $50 million (approximately 11,300 BTC) was ordered returned to the company’s many traders and investors. It has also filed suits against Coinbase for its alleged mishandling of December 2017’s bitcoin cash listing.

This article originally appeared on BitcoinLinux.

Early Win for Shrem: Judge Unfreezes Assets in Winklevoss Lawsuit

In a short-term win for bitcoin advocate Charlie Shrem, a federal judge has lifted the freeze on Shrem’s financial accounts in an ongoing legal battle against the Winklevoss twins.Shrem’s financial accounts and assets were temporarily frozen via an attachment order following the suit’s initial filing. The order allowed the U.S. Marshall for the Southern District to freeze Shrem’s assets, instructing cryptocurrency companies like Coinbase and Xapo and legacy financial institutions to freeze Shrem’s assets up to $30 million, the amount the Winklevosses are seeking in damages.However, following a hearing on Thursday, November 8, 2019, presiding Judge Jed S. Rakoff issued a court order lifting the freeze. “After careful consideration, the Court denies plaintiff’s motion to confirm the order of attachment and therefore lifts the attachment currently in place effective immediately,” the order reads.The document concludes by saying that an opinion will be issued “in due course” explaining why a freeze was unnecessary for the initial proceedings to continue. Earlier this month, Tyler and Cameron Winklevoss of the Gemini Exchange in New York filed a suit against Charlie Shrem for 5,000 BTC after Shrem reportedly made several high-value purchases following his release from prison.Shrem has claimed he went to prison penniless, reportedly working as a dishwasher for several months after his release before returning to the bitcoin space. Shrem’s self-reported poverty has lead the community to question where he dug up the funds for his luxury shopping spree. The Winklevosses believe that these purchases were made with bitcoin Shrem stole from the twins when they hired him to manage their initial cryptocurrency investments in 2012. The working relationship was troubled when Shrem allegedly mismanaged roughly $60,000 of bitcoin. At the time, bitcoin was worth approximately $12.50, so the $60,000 would be equal to about 5,000 BTC. The twins say they’ve hired a private investigator who states that, in 2013, the missing bitcoins were traced to several wallet addresses owned by Shrem before being redirected to other accounts. Shrem’s lawyer Brian Klein asserts that the Winklevoss twins’ claims are baseless, and he’s confident in Shrem’s innocence. In a recently filed motion of defense, Klein writes: “Plaintiff Winklevoss Capital Fund, LLC’s (“WCF’s”) prejudgment attachment and underlying lawsuit are predicated and built on the demonstrably false premise that defendant Charlie Shrem (“Shrem”) misappropriated $61,000 of WCF’s money in 2012, purchased 5,000 bitcoins with those funds, moved those bitcoins around on December 31, 2012 (and subsequently), and then years later after his release from prison went on a spending spree with them, but WCF’s case collapses on itself because those 5,000 bitcoins were not owned by Shrem. The scandalous and fantastical story WCF is advancing is nonsense.” The document explains that the 5,000 BTC in question were owned by a separate party, who for privacy purposes, Klein refers to as “Mr. X.” It further states that Mr. X is “identified in email communications between him and Shrem (and others)” discussing the 5,000 bitcoins. Copies of the emails were filed with the motion that allegedly suggest Mr. X transferred the coins to a cold storage wallet account in Shrem’s name on December 31, 2012. The document goes on to say, “This lawsuit and application for prejudgment attachment can only be characterized as an ambush money-grab designed to cripple Shrem financially.” It further explains that the Winklevoss twins have failed to provide any substantial evidence showing that Shrem attempted to defraud them purposely.While the judge has freed up Shrem’s funds, the case is ongoing, and it will have an official trial by jury on April 8, 2019.

This article originally appeared on BitcoinLinux.

Canadian Bitcoin Miner Hut 8 Reports Q3 Loss of $8.7 Million

Hut 8 Mining Corp., a Canadian bitcoin mining company, has released its third quarter earnings report, which shows a net loss of US $8.7 million on higher depreciation costs. Depreciation spiked to $13.3 million, wiping out mining profit which came to $6.7 million.
Also Read: Acquires Primus Capital Markets to Offer BTC-Backed Forex Trading
 Revenue Soars but Profits Fall
During the third quarter of 2018, the Toronto-listed miner extracted 1,978 BTC at a cost of $3,394 per coin, almost half the average market price of bitcoin for the three months, which averaged $6,400. Hut 8 said this difference explains the profit on mining, at margins of about 51 percent. Overall, the company mined 3,581 BTC for the nine months to Sept. 30, and 4,200 BTC since operations began in December 2017.

According to the earnings release published Nov. 8, Hut 8 reported revenue increase of 126 percent to $13.4 million from $5.9 million the previous quarter due to increased operational capacity. The $189 million-valued company deployed an additional 16 Blockboxes in September at its mining facility in the City of Medicine Hat (CMH), bringing it to a total 56 Blockboxes at the site.
Adjusted earnings before interest, tax, depreciation and amortization soared 86 percent to $5.5 million from $2.96 million a quarter earlier, “largely as a result of increased revenue from the new facility at CMH.” Hut 8 expects to see improved efficiency of the ASIC chips used to mine bitcoin during the colder months in Alberta, western Canada.
Record Temperatures Hurt Margins
Record-breaking summer temperatures in the province caused electricity prices at the company’s Drumheller facility to rise, contributing to lower profit margins. The unit procures power from the Alberta grid. However, the impact of a hot summer was far less at Hut 8’s larger facility in CMH, which purchases the majority of its electricity under contract with fixed prices. Andrew Kiguel, chief executive officer of Hut 8, said:
Our Drumheller facility represents approximately 20 percent of our operations. This summer, a record-setting heat wave in the province resulted in increased electricity costs during certain periods. The result was increased electricity costs at the Drumheller site by approximately $0.01 per Kw/h on average. We are actively managing our exposure to market prices through a number of different means.
The cryptocurrency mining company was established through an exclusive arrangement with Bitfury Group, a leading blockchain technology company.

Through Bitfury, Hut 8 has access to a proprietary mix of hardware, software and operational expertise to construct, optimize and manage data centres in low-cost and attractive jurisdictions.
Shares of Hut 8 are up 4.21 percent at $2.25 in Toronto trading at the time of going to press. Over the past 52 weeks, Hut 8 shares have reached a high of $3.80 and a low of $1.77.
What do you think about Hut 8’s quarterly performance? Let us know in the comments below.

Images courtesy of Shutterstock.

The Bitcoin universe is vast. So is Check ourWiki, where you can learn everything you were afraid to ask. Or read our news coverage to stay up to date on the latest. Or delve into statistics on our helpful tools page
The post Canadian Bitcoin Miner Hut 8 Reports Q3 Loss of $8.7 Million appeared first on BitcoinLinux.

Amazon and ConsenSys-Built Kaleido Launches Full-Stack Marketplace

Blockchain software-as-a-service (SAS) project Kaleido has launched a marketplace to provide its users with a “full-stack enterprise platform.”Their “Blockchain Business Cloud” now features a “new marketplace [of] trusted tools and services from Kaleido, AWS, and members of the new partnership program, all offered as plug-and-play.” The suite of services will feature oracles, wallet and ID services, supply chain tools and even legal contract software.According to a company statement, “Clients now have access to native AWS integrations, popular services such as HD wallets for privacy and ID registries for organizational identity, as well as industry products such as Chainlink for smart contract oracles, Viant for supply chain management, OpenLaw and for real-time legal contracts, and many others—all at the click of a button.”Kaleido, which went live in May 2018, is one of many managed by ConsenSys. Built on Ethereum, the platform is a hybrid blockchain that allows enterprises to manage a private chain that can sync with the Ethereum mainnet, housing “several consensus algorithms (RAFT, POA, and IBFT) that its users can toggle between.” The software-as-a-service is available on Amazon Web Services (AWS), and it runs on AWS’ cloud framework.Since its launch, the press release claims that “Kaleido has helped organizations create over 1,000 blockchain networks with its Blockchain Business Cloud.” “The reality is only about 10 percent of an enterprise blockchain project is the blockchain itself. There are many other application, data and infrastructure components required to go into production. I’m very excited that we have a whole cloud of blockchain technologies pre-integrated for our clients to use. The Kaleido Marketplace is a one-stop shop for all things enterprise blockchain,” founder and CEO of Kaleido, Steve Cerveny, said in light of the announcement. Kaleido is also launching a partnership program integrated with the marketplace, inviting third-party developers “to join the ecosystem by promoting their offerings in the Kaleido Marketplace, embedding Kaleido in their own blockchain solutions, or accelerating client engagements by using Kaleido.”

This article originally appeared on BitcoinLinux.