Crypto Tidbits: Bakkt Bitcoin Custody, China’s Cryptocurrency On the Horizon, XRP In Hot Water

Another week, another of Crypto Tidbits. Bitcoin saw yet another tumultuous week in terms of price action. It fell by over 8% in one day, as bears managed to take control of the market. But, despite this downward price movement, this industry continued to trudge forward.

bitcoin conspiracy theory

Bitcoin & Crypto Tidbits

  • Bakkt To Start Custodying Bitcoin Next Week: According to a recent Twitter announcement, Bakkt, the New York Stock Exchange-backed crypto startup, will soon start taking custody of Bitcoin (BTC) through Bakkt Trust Company. The long-awaited exchange will activate this product on September 6th — a Friday. Custody is being launched two weeks out from the activation of Bakkt’s Bitcoin Daily and Monthly Futures contracts. This news comes shortly after the firm revealed that it had received the “greenlight from the CFTC through the self-certification process and user acceptance testing has begun.” Analysts bill the launch of Bakkt as “arguably the most bullish event for institutional investors in the history of Bitcoin”.

  • Telegram May Soon Launch Blockchain And Crypto: According to an anonymous investor in Telegram’s Open Network blockchain (TON), the social media giant will begin publicly testing its chain on September 1st. A Russian outlet claims that the launch of beta testing will coincide with a release of TON’s node software and certain technical documentation. TON raised a purported $1.8 billion over the past year or two, with there being much hype around how the blockchain and cryptocurrency can be deployed to Telegram’s 200 million users.
  • Aircraft Manufacturing Giant Boeing Joins Consortium Pushing Blockchain-esque Technology: CoinDesk has found that Boeing, the world’s largest aircraft manufacturer, is making a foray into blockchain, well, Hedera Hashgraph to be more specific. Their sources tell them that the aerospace giant is the 10th member of Hedera’s governing council, which hosts other big names in finance and technology like Nomura Holdings and the blockchain-friendly IBM. It isn’t clear how Boeing will be participating in Hedera’s ecosystem just yet.
  • Forbes Drops Bombshell Report About China’s Crypto: Forbes’s crypto editor, Michael del Castillo, recently came out with an extensive report on the People’s Bank of China (PBOC) soon-to-launch cryptocurrency. In it, it was stated that according to Paul Schulte, who worked as global head of financial strategy for China Construction Bank until 2012, seven institutions — massive names in the China corporate and political scene — will be the first to receive access to the digital asset. Schulte purportedly singled out the world’s two largest banks — the Industrial and Commercial Bank of China and Bank of China, respectively — the Agricultural Bank of China; China Construction Bank; Alibaba and Tencent; and Union Pay, a banking consortium in the Asian nation. Another source speaking to Forbes echoed this, stating that those seven and an eight are likely to get access to the cryptocurrency, which he/she/they says is dubbed DC/EP.
  • Samsung Galaxy S10 Now Supports Bitcoin, Stablecoins: This year, the cryptocurrency industry was shocked when Samsung unveiled its Galaxy S10 lineup of smartphones, as the firm mentioned blockchain in press statements on the phone. According to, Samsung’s internal cryptocurrency wallet now supports stablecoins — TrueUSD and USD Coin (USDC) — briefly after adding support for Bitcoin and launching with native support for Ethereum.
  • Brad Garlinghouse Quashes XRP Fud: Brad Garlinghouse, the chief executive of Ripple, recently came out to debunk “questionable sources spreading FUD” about XRP in an impassioned Twitter thread. In the scathing message, the industry executive wrote that XRP should not be classified as a digital security. Garlinghouse cited comments from the United Kingdom’s Financial Conduct Authority and “others” on the cryptocurrency to back his point. Garlinghouse also addressed a response to an article from Bloomberg about the sale of XRP tokens by Ripple. In that article, the outlet cited countless cryptocurrency industry executives and investors, most of which expressed skepticism towards Ripple’s decision to dump hundreds of millions of dollars worth of XRP on the open market. In his response tweet, the CEO wrote that these sales help expand the utility of XRP, not just the size of Ripple’s coffers.
  • UN Official Bashes Crypto in Scathing Interview: In an interview with the Australian Broadcasting Corporation, a leading official of the United Nations, Neil Walsh, pushed anti-crypto rhetoric, alleging that these digital assets can be used in criminal activity. Walsh, the leading authority on anti-money laundering and cybercrime at the UN, asserted that cryptocurrencies are “another layer” to the “nightmare” that is criminal activity. He specifically called out child exploitation networks, which he opines benefit from digital asset technology. He brought up one case where digital content in which a child was abused could be accessed with a fee paid in cryptocurrency. Walsh also claimed that the fight against cybercriminals, nuclear weapon proliferation, terrorist financing, and money laundering is being hampered by the propagation of cryptocurrencies.
  • Institution Looks To Create $1 Billion Crypto Venture: According to a recent report from the Financial Times, Elwood Asset Management, an institution that manages British billionaire investor Alan Howard, is looking to launch a crypto venture worth $1 billion. Speaking in an interview with FT, Bin Ren, the chief executive of Elwood Asset Management, said that his firm is working on a platform that would assign institutional investors diverse, vetted crypto portfolios. As it stands, there are countless “crypto hedge funds” that aren’t suitable for institutional investment. By sifting through the good and the bad, Elwood hopes to create relatively safe crypto portfolios for institutional investors.
  • SEC Slaps Crypto Firm & Founders WIth $10 Million Fine: The U.S. Securities and Exchange Commission has just settled a massive $10 million case with an unregistered cryptocurrency platform. Announced in a press release published on Thursday, the SEC has settled charges with Bitqyck, a Dallas-based cryptocurrency exchange, and its founders for offering security-like cryptocurrencies and making false statements about its product.
Featured Image from Shutterstock

Bitcoin Bull Jack Dorsey’s Twitter Hack Is a Wakeup Call for Crypto Security

Yesterday, the CEO of Twitter and Square Inc., and staunch Bitcoin and crypto supporter, Jack Dorsey, had his personal Twitter account hacked by the way of a SIM-swap attack and SMS-based backdoor.

The hack demonstrates that even the CEO can have his own company’s highly-valuable personal account compromised, and is a painful reminder that if it can happen to someone as high profile as Dorsey, it could happen to you too.

Bitcoin Bull Jack Dorsey Falls Victim to Sim-Swap Hack, Twitter Account Compromised

Yesterday, the Twitter account of the social media platform’s CEO – used often as an important bulletin board the company and soapbox for the outspoken executive – was hacked by a group of hackers calling themselves ChucklingSquad. The hackers had accessed the Twitter account and posted nonsensical notes, racial slurs, and “hello world” style messages to prove that their cybercriminal prowess was able to achieve such a feat.

Related Reading | Pro League of Legends Gamer Robbed of $200K in Crypto in Sim-Hack

And while Bitcoin wasn’t directly involved, Dorsey’s account was comprised due to having been the victim of a SIM-card swap attack – a relatively new type of hack that has been increasingly targeting cryptocurrency holders. Jack Dorsey is among the world’s most renowned Bitcoin bulls, using his Square Cash app to bring Bitcoin buying to the mainstream public and suggests that one day the crypto-asset would become the world’s single global currency for the internet.

As is the case with some high profile crypto investors, the hackers were able to assign Dorsey’s phone number to a dummy phone. However, unique to this case, the number was then used to text message Twitter’s text-to-tweet service to send the offensive tweets.

Others haven’t been so lucky. In the past, angel investor Michael Terpin was the victim of a SIM-swap attack that resulted in $24 million in crypto being stolen. Later, Terpin filed a lawsuit against his mobile service carrier at the time – AT&T – for their negligence and was awarded a $75.8 million victory in the case. AT&T is also Dorsey’s service provider, showing that there could be a connection somehow.

More influential figures known for their involvement in crypto and Bitcoin have been the targets of similar attacks. Recently, a prominent eSports player was targeted and shared the incident on his YouTube channel. The incidences are only increasing as cybercriminals continue to target crypto holders.

It’s important for crypto investors to use additional security protections such as two-factor authentication using Google Authenticator and to avoid SMS-based 2FA for this very reason. Always remember to back up your 2FA codes on paper for safekeeping.

Related Reading | 15 Crypto Community Members Targeted As SIM-Port Hack Trend Spikes

Other tips include keeping assets like Bitcoin off exchanges and in cold storage. Also never disclose that you hold any crypto to anyone ever, and use unique usernames and passwords whenever possible. Running malware protection software like MalwareBytes, and being cautious about installing browser add-ons and the like is also recommended.

Dorsey likely has taken all of the steps above and more, yet still, hackers were able to obtain access to his account. The situation proves that no one can ever be 100% safe at all times, however, these steps can certainly aid in keeping one’s assets safe.

How Facebook Libra Is Seeking Compliance, but May Not Launch by 2020

What can I do to prevent this in the future?

If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware.

If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices.

Tidal Energy Brings Crypto to UK’s Most Deprived Village


Tidal Energy Brings Crypto to UK’s Most Deprived Village


Artist Maël Hénaff has delivered a novel approach to the problem of unemployment in one of Britain’s worst affected areas – utilizing the very technologies that are putting many of the area’s residents out of work.

Jaywick, on the east coast of Essex, suffers an unemployment rate of 60% – many put out of work by the rise of automation and other emerging technologies. While Hénaff’s project does not bring jobs to the area, it helped advance debate among this skeptical community away from the negatives and allowed them to see the benefits automated technologies can bring.

To this end, Hénaff collaborated with the people of Jaywick, creating a workshop where locals would build fully functioning cryptocurrency miners – powered by the English Channel’s strong tides – allowing the community to generate – not only crypto rewards – but a secondary, shared supplementary income.

Stimulating Debate

The artist said that although these crypto miners were only able to generate around five US cents worth of cryptocurrency per hour, now they know how to build them a few people were starting to build their own miners.

Hénaff concluded:

This call to action aims to not only outline the very real potential of automated technologies but to also stimulate debate as to what we want our collective future to look like, and how we can ensure that future technologies are democratic and support the many and not the few.

US-China Trade War and Its Effect on Cryptocurrencies

What can I do to prevent this in the future?

If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware.

If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices.

Kyrgyzstan Proposes Draft Law to Introduce Crypto Mining Taxation

What can I do to prevent this in the future?

If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware.

If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices.

South Africa: Potential for Growth Despite Strict Crypto Regulations says Monero Core Team Member

South Africa: Potential for Growth Despite Strict Crypto Regulations says Monero Core Team Member

Despite the severe economic and political issues on top of strict crypto regulations in South Africa, Riccardo Spagni, a member of the Monero Core Team and co-founder of decentralized platform Tari Labs says the country is still an excellent breeding ground for motivated entrepreneurs, reports Mybroadband on August 30, 2019.

Local Businesses can Benefit

Per the report, Riccardo Spagni believes South Africa is a green pasture for motivated entrepreneurs despite the economic and political setbacks in the country.

Reportedly, Spagni has been a part of the Monero cryptocurrency project since its infancy stage, and he has launched other crypto-related businesses in South Africa, successfully.

When asked if he would consider leaving the region, the Monero lead maintainer answered in the negative stating that he was born and bred in South Africa. As such, he has grown fond of the region, and the only reason why he would consider relocating is if it is fundamentally necessary.

There may be serious problems in the locality unlike developed countries that have sorted out their water, electricity, and police force; nonetheless, there is a scope and potential for South Africa, he said.

South Africa’s Regulatory Concerns

Spagni also remarked that the regulatory concerns in South Africa, especially in the aspect of cryptocurrency, is a deterrent for local businesses looking to start an international platform in the region.

However, individuals who are highly motivated will still look past these hurdles to continually create their opportunities.

“Exchange control really drives people away from South Africa from a business perspective. It makes it really difficult to do business with companies outside of South Africa,” he said.

Another instance the entrepreneur cited, is the case of the South African Reserve Bank (SARB) who has set a credit card limit for transactions.

Explaining how the SARB’s limitation is a setback, Spagni said cryptocurrency companies majorly deal with several web pages where lots of transactions are carried out.

As a result, the SARB’s regulation places a limit on the transactions these businesses can carry out daily.

SARB, on the other hand, had published a consultation paper in January 2019 stating that priority has to be given to regulatory action on cryptocurrencies to protect consumers and investors.

On January 4, 2019, BTCManager informed that the South African government has created a team of specialists who will investigate crypto assets and blockchain technology to formulate regulatory guidelines for the industry.

Like BTCMANAGER? Send us a tip!

Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4

Bitcoin Mathematics: Why 21 Million BTC May Have Been Chosen

Everything about Bitcoin is heavily steeped in mathematics – defined as the study of quantity, structure, space, and change. Quantity has always been of particular interest to crypto investors and traders – in increasing the quantity of one’s own holdings, and the impact the hard-capped quantity of BTC has on its long-term value.

Recently, a Twitter thread questioned the reasoning behind why the first-ever cryptocurrency’s creator, Satoshi Nakamoto, selected 21 million BTC as the total supply and not another arbitrary number. The answer, like everything else surrounding Bitcoin, can be found in very simple math.

The Not Secret Anymore Formula For Bitcoin’s Hard-Capped Supply

Bitcoin’s hard-capped supply provides it with unique attributes. It gives it a layer of scarcity fiat currencies don’t have, but safe-haven assets like gold are lauded for. It also prevents inflation by never increasing the BTC supply. We can all see why it’s important to Bitcoin’s value, but still – why 21 million BTC?

Related Reading | Can Ancient Math Predict the Next Bitcoin Top at $220K?

In a detailed and thought-provoking Twitter thread started by Sasha Fleyshman, the trader at Arca – an asset management firm focusing on cryptocurrencies and blockchain – inquires into why Bitcoin’s creator chose 21 million BTC as the total amount of Bitcoin to ever exist. Like most things related to Satoshi, the reason has always remained unknown.

After much discussion, Fleyshman gathered the collective thoughts and based on a simple mathematical formula, may have discovered the reason behind the 21 million BTC supply.

The theory is based on time, mostly. The variables used were hours per day, days per year, years per cycle, and blocks per hour.

Also, hardcoded into Bitcoin, is the fact that it takes roughly ten minutes for each new block to be added to the blockchain. Fleyshman points out that this varies by a few seconds, but is ultimately offset at each “difficulty adjustment” occurring every 14 days.

When you break down four years worth of blocks at six blocks per hour, there are approximately 210,000 total blocks per halving cycle.

At Bitcoin’s next halving, its supply will be cut from 12.5 BTC to 6.25 BTC. Prior to this, the block reward was 25 BTC, and before that, 50 BTC. The sum of all block reward sizes is 100.

Related Reading | Crypto Analyst: Bitcoin Price Could Be Trapped in Tight Range Until Halving

When you multiply 100 with the 210,000 total blocks per halving cycle, you get 21 million BTC. At least that’s according to Fleyshman’s theory, which makes logical sense.

While all the math lines up, it could also just be a coincidence, and the true answer will likely never be known, as Satoshi Nakamoto’s true identity may never be revealed. Until that ever happens, this theory is among the most convincing yet.








涉及区块链业务方面,据苏宁易购在2019年半年质报中表示,在报告期内,苏宁金融上线区块链福费廷业务,区块链+物联网汽车库融系统获得CITE 2019区块链应用创新优秀案例,智能催收平台获得中国银保监会2018年风险管理课题二类成果奖。








在涉及区块链业务方面,新晨科技已完成业务落地,报告期内公司实施完成了某大型金融集团基于区块链技术的客户信息共享系统;实施完成了某股份制银行基于区块链技术的供应链项目。同时, 2019年公司继续关注于区块链、云计算以及大数据等新技术在行业应用的落地研究以及创新研发,加大在区块链领域加大研发投入,持续跟进相关主流的区块链平台以其开源社区版本,借助公司在贸易融资领域的业务优势创新落地应用同时,积极对共识算法、加密算法和跨链技术等方面展开研究工作,通过区块链团队建设和自主研发的BaaS平台的推出,进一步夯实在区块链领域发展的基础。






然而,三六零在财报中只提及两次区块链,一次是在报告的常用词释义中提到,公司使用的主要核心技术,其中:I-IoT 智能感知、M-移动通信、A-人工智能、B-区块链、C-云计算、D-大数据、E-边缘计算,以上技术统称为“IMABCDE ”。另一次是,公司投入497.5万元研发基于区块链的可信电子存证系统关键技术。





Telegram’s TON to Begin Public Tests On Sept. 1


Telegram’s TON to Begin Public Tests On Sept. 1


Telegram will reportedly be spending its weekend launching a series of public tests for the Telegram Open Network (TON) blockchain. 

TON Public Testing

According to a report by Russian news outlet Vedomosti, Telegram will begin public testing for the TON blockchain on Sept. 1.

The messaging platform is also planning to release the code and instructions for running and setting up a TON node as a part of the ongoing testing. The report claims that TON’s consensus mechanism and sharding scheme will be available for public testing. 

News of public testing for TON follows on the heels of a New York Times report earlier in the week which claimed Telegram was preparing to send the native token GRAM to initial investors within the next two months. 

Telegram gained prominence for its massive 2018 initial coin offering (ICO) which raised $1.7 billion in funding, second only to the record-breaking raise by’s EOS at $4 billion. GRAM and the TON network have been highly anticipated by investors since the original ICO, despite unfavorable market conditions for crypto plaguing the project through most of last year.