We are pleased to announce that we are ready to start returning USD funds. Please follow the instructions on the withdraw page. If your account balance is over 3000 USD, you must first open an account with IAFCU and then provide your IAFCU account number.=== === ===
Please note that if you live outside New Brunswick NJ the only other requirement is donate $5 (usually we ask $10 but understand circumstances) to a local charity. There are four who are bitcoin friendly and worthy the one we deal with the most is Elijah's Promise they are a soup kitchen-food pantry and a lot more. They have no relation to us and it is tax deductible. We can tell you about the others when we call you.Although this might seem like a hassle to some, presumably everyone who is opening a new account with IAFCU has over $3,000 to recover from Bitfloor, and the $2.50 processing fee + $5 donation is hardly a loss compared to what we were fearing might happen (e.g. 25-50% loss through a class-action lawsuit).
submitted by Freeme62410 to KambriaOfficial [link] [comments]
Blockchain Rising — Adoption, Legislation, and Regulation
Can you believe it? Last month, we celebrated the 10th anniversary of the Bitcoin whitepaper. Who could have imagined one decade ago that Satoshi Nakamoto’s peer-to-peer digital cash system would have such a tremendous impact? It took a true visionary to see the future potential of Bitcoin way back in 2008. Fed up with corrupt, centralized banks that caused the 2007 market crash, Satoshi created Bitcoin as an alternative economic system. Bitcoin’s road to mainstream adoption has been long albeit steady. Let’s take a look at the adoption and regulation of Bitcoin to get a better idea of where it will go in the future.
Technology Adoption Phases
Adoption of new innovative technology will go through different phases. According to Everett Rodgers, the author and inventor of the Diffusion of Innovation theory, there are five types of adopters — innovators, early adopters, early majority, late majority, and laggards.
Diffusion of Innovation model by Everett Rodgers
Theories regarding which stage of adoption blockchain technology has now reached vary, as industry professionals have different ideas on whether we are in the early adoption or early majority phase. The fact is that after its initiation in 2008, startups, established companies, and governmental entities have slowly begun researching and testing blockchain technology. According to an article in Forbes, over 50 big corporations are currently exploring the innovative technology as a solution for their business model. The blockchain market grew from having a total market capitalization of $16 billion US dollars at the end of 2016 to a total market capitalization of $212 billion US dollar at the time of writing.
So in essence, the industry’s value has increased exponentially while the global adoption has not yet hit the mainstream. However, it is growing at a slow but steady pace. This past year we keep hearing more and more stories about blockchain adoption by governments, startups and established corporations. The category suited for this phase fits the early adopter phase in my opinion.
While worldwide blockchain regulations are becoming more and more common, there is no global standard for how blockchain is being regulated. While some governments are becoming more receptive to blockchain implementations, others are in favor of slowing down or bluntly restricting the implementation of blockchain technology.
One of the countries that is highly conscious of blockchain regulation is the United States. Operation crypto sweep was launched by the NASAA (North American Securities Administrators Association) to find and prosecute fraudulent ICO projects. The result was no less than 35 pending or completed enforcement action. In addition, the Securities and Exchange Commission (SEC) has filed various legal actions against companies that do not comply with their regulations. The SEC has even gone as far as to fabricate a scam ICO called Howey Coins full of red flags in order to warn people about malicious practices and businesses extorting money from individual investors. It was their way of showing people that if something seems too good to be true it usually is.
Cryptocurrency and blockchain projects doing business in the US need to be very careful about being classified as a security — even if their project claims to issue “utility” tokens. The distinction between a security token and a utility token is unclear leading some companies to operate as if they are issuing securities but then meeting all of the qualifications of an exemption such as Regulation S, a safe harbor from registration requirements. When it comes to the SEC, it is definitely better to be safe than sorry!
Moreover, various lawsuits have taken place already in which blockchain companies faced legal action for non-compliance with local regulations. The cryptocurrency Ripple has been in an ongoing securities lawsuit against the state of California. Tezos also followed a year-long legal battle with the state of California before they could officially launch their project after raising $230 million dollars in an ICO.
Just last year, China announced a total ban on cryptocurrency, resulting in Chinese-based blockchain companies needing to shift or shut down their operations and find other more blockchain friendly jurisdictions. After China, the Republic of Korea banned initial coin offerings (ICOs). As a frontrunner in adopting innovative technologies, Korea is focused on drafting official rulesand industry standards for professionals in the blockchain industry.
Singapore has always been supportive of blockchain technology and is open to companies adopting it. In November 2017, the Monetary Authority of Singapore (MAS) issued a Guide to Digital Token Offerings. The guide offers information for financial institutions on the obligation to obtain a license when offering digital assets to the public.
The European Union is also pretty blockchain-friendly. Switzerland has always been pro-blockchain and its city Zug has been deemed crypto-valley as many blockchain companies are based there (e.g. the Ethereum Foundation, Cardano).
Last month, Kambria COO, Tra Vu, joined Tom Trowbridge, President of Hedera Hashgraph, and Nick Chong, Head of North America at Quoine Exchange, at IF Conference in New York City to discuss blockchain regulation. Quoine is the first global exchange to be regulated by the Japanese government. After the Mt. Gox collapse, the Japanese government decided to regulate Bitcoin and to establish it as an official method of payment. Exchanges have to be regulated to operate in Japan similar to banks and are required to take certain measures to ensure security and storage of cryptocurrency. As a result of regulation, Japan is a leader with respect to crypto regulation and the awareness of Bitcoin in Japan is very high.
But the country that currently ranks number 1 as the most blockchain and cryptocurrency friendly jurisdiction is…Malta! Some refer to it as “the blockchain island.” On July 4, 2018, the Maltese government approved 3 different laws that act as a framework for blockchain, cryptocurrency and distributed ledger technology (DLT). Besides blockchain technology, Malta is also a fan of innovations in the robotics and AI industry. They recently initiated an AI task force that will build a roadmap that leads towards granting citizenships for AI. Last year, Saudi Arabia was the first country to officially recognize a robot as a legal citizen within their jurisdiction. The honor goes to Hanson Robotics Humanoid robot, Sophia!
In spite of global progress, blockchain has some roadblocks ahead in pursuing mainstream adoption. The primary issues that slowed adoption last year are referred to as the blockchain trilemma — scalability, security, and efficiency. This came to light last year when interest in cryptocurrency and Cryptokittes piqued. Fortunately, solutions that speed up the network, like Lighting Network for Bitcoin and Plasma and Sharding for Ethereum are now being developed.
Another issue is the fact that blockchain needs to have easy access for every member of our society. New users might get overwhelmed with the extent of cryptographic knowledge that is required to safely make a transaction on a blockchain network. Rookie mistakes include sending someone your private key instead of your public key, depositing a coin into a different coin’s account (BTC vs. BSH), and not doing your own research (DYOR).
There is also the threat of quantum computing. This threat will probably take a while before it will become serious, but it is something to consider in order to move forward with blockchain technology. Various developers are working on creating a quantum resistant ledger. When the time comes, and the quantum computing threat needs to be addressed, a hard fork can be initiated to change to a different quantum resistant ledger.
Blockchain regulation and laws that apply to startups in the blockchain industry and established companies utilizing the technology are essential to mature the market. Regulation will also discourage malicious entities from entering the market. A market with fully-compliant organizations is very healthy to keep the industry moving forward.
Future Blockchain Evolution
When it comes to achieving mainstream adoption, the biggest roadblocks the blockchain industry is facing are solving the scalability, security and efficiency issues and creating blockchain-based payment solutions that are easily accessible to all members of our society. Blockchain technology, with the addition of smart contracts, can have a revolutionary impact on industries like fintech, health, robotics, and AI. Financial products like mortgages and insurance policies are just two of the highly suitable products that can be initiated with blockchain and smart contracts.
Open innovation protocols, like Kambria Network, where community members come together, share resources and work on developing, manufacturing, selling and buying innovative tech products and services are the future and I don’t think anything can stop it. It is just a matter of time before the world practically runs itself through the implementation of blockchain technology.
The Kambria Team
Telegram (ENG): https://t.me/kambriaofficial
Telegram (KOR): https://t.me/KambriaKorea
Telegram (VIE): https://t.me/KambriaVietnam
Telegram (CHN): https://t.me/KambriaChina
Facebook Page: https://facebook.com/KambriaNetwork
Facebook Group: https://www.facebook.com/groups/kambria/
Medium (ENG): https://medium.com/kambria-network
Medium (CHN): https://Medium.com/kambriachina
Weibo (CHN): https://www.weibo.com/kambriachina
Email: [email protected]
Kat is sold to be used on the Kambria platform.
Yeah ok keep pumping out the articles about this so funny I would bet the articles stating bitcoin went to 1000$ on fraudulent money is 100% posted by insider traders or Wall St.. And Its no secret Wall St is driven by insider trading. Heck you can watch a documentary that shows how they do insider trading using loopholes of having a couple people down the line get the info that they "donate" money to for information. But anyways I just wanted to post another rant and laugh... Also, if you want to claim bitcoin is fraudulent based on a couple people who traded 36 million dollars worth of a coin worth 250 Billion on average give or take 50 billion or 0.000144% of bitcoin then I guess all banks should close tomorrow since 90% of all money banks handle have traces of cociane on them and clearly came from fraudulent places.
Again, I will state bitcoin will rise and fall like it always does pretty much only falling from fake news pumped in sync with sell offs to try to get more for cheap, and thats fine its so obvious to me also I have traded since before Mt.Gox and the coins never went to its peak and stayed there untill after the fall of Mt.Gox. The timeline may show that right before Mt.gox froze the price of BTC was going up. Until around that time but anyone who used MT.Gox knows that no one could move, trade or withdraw there funds long before it was froze and it finally froze from the lawsuits regarding this so essentially Mt.Gox was out of the game.
And for those who like facts here you are I will include the links also
"On 15 May 2013, the US authorities seized accounts associated with Mt. Gox after discovering that it had not registered as a money transmitter with FinCEN in the US.
On 17 May 2013, it was reported that BitInstant processed approximately 30 percent of the money going into and out of bitcoin, and in April alone facilitated 30,000 transactions,
On 23 June 2013, it was reported that the US Drug Enforcement Administration listed 11.02 bitcoins as a seized asset in a United States Department of Justice seizure notice pursuant to 21 U.S.C. § 881. It is the first time a government agency has claimed to have seized bitcoin.
In July 2013 a project began in Kenya linking bitcoin with M-Pesa, a popular mobile payments system, in an experiment designed to spur innovative payments in Africa. During the same month the Foreign Exchange Administration and Policy Department in Thailand stated that bitcoin lacks any legal framework and would therefore be illegal, which effectively banned trading on bitcoin exchanges in the country. According to Vitalik Buterin, a writer for Bitcoin Magazine, "bitcoin's fate in Thailand may give the electronic currency more credibility in some circles", but he was concerned it didn't bode well for bitcoin in China.
On 6 August 2013, Federal Judge Amos Mazzant of the Eastern District of Texas of the Fifth Circuit ruled that bitcoins are "a currency or a form of money" (specifically securities as defined by Federal Securities Laws), and as such were subject to the court's jurisdiction, and Germany's Finance Ministry subsumed bitcoins under the term "unit of account"—a financial instrument—though not as e-money or a functional currency, a classification nonetheless having legal and tax implications.
In October 2013, the FBI seized roughly 26,000 BTC from website Silk Road during the arrest of alleged owner Ross William Ulbricht. Two companies, Robocoin and Bitcoiniacs launched the world's first bitcoin ATM on 29 October 2013 in Vancouver, BC, Canada, allowing clients to sell or purchase bitcoin currency at a downtown coffee shop. Chinese internet giant Baidu had allowed clients of website security services to pay with bitcoins.
In November 2013, the University of Nicosia announced that it would be accepting bitcoin as payment for tuition fees, with the university's chief financial officer calling it the "gold of tomorrow". During November 2013, the China-based bitcoin exchange BTC China overtook the Japan-based Mt. Gox and the Europe-based Bitstamp to become the largest bitcoin trading exchange by trade volume.
In December 2013, Overstock.com announced plans to accept bitcoin in the second half of 2014. On 5 December 2013, the People's Bank of China prohibited Chinese financial institutions from using bitcoins. After the announcement, the value of bitcoins dropped, and Baidu no longer accepted bitcoins for certain services. Buying real-world goods with any virtual currency has been illegal in China since at least 2009."
In fact I was trading the Down swings around this time and remember it quite clearly and the price most deffinatly did not shoot up with any relation to Mt.Gox if anything Mt.Gox was the reason for the fall from the news and panic!
Also, WAKE UP PEOPLE. Wall St's total value is what 2.7 Trillion that took like 100 years to get. Does no one else realize the magnitude of Bitcoin to them. Bitcoin in 10 years or less including its many other Coins under it is worth 658-758Billion or 0.65-0.75T in 1/10th the time Wall St did it and its getting bigger all the time.
I've said it before and Ill say it again there scared because Bitcoin, (and altcoin), traders are used to volatility, We can loose 70% of our gains or investment in a day or an hour and still keep on truckin. But that type of volatility scared the pants off the big traders because they also have investors to explain these situations to and they have no merits to base there explanations on since nothing in the real world short of good and bad news or money in and money out of coins affects the prices very much. And for this reason Wall St will never like it and the fact its outside of there nice controlled systems they designed that benefit the rich and rape the poor. And this new system which does not allow credit, or BS is a new realm to them. Sure there might be some insider trading some of the time but the order books and live stats are available to anyone and everyone equally, unlike stocks where you need crazy memberships just to get short 15 minute delayed stats on the live markets and only the top accounts with over 50,000$ invested can even dream about getting anything better. And you have to pay 6.99-24.99 Per trade the lesser being for the 50k investor, leaving no learning curve for the small guys. So in my opinion its still a way better system and anyone can easily do some research like I have today and not panic sell from every little BS article and simple trade for yourselves. And Bitcoin to Altcoin trades BTW will cost you 0.06-0.08% and Bitcoin/Altcoin to USD (Or your Currency) will cost you 0.18-0.24% on most exchanges or platforms.
If you've read my rant this far I thank you for your time. Some article just really grind my gears :D
PS - Below is some handy trading platforms and tools
I would also like to take a moment just to say anyone interested in a FreeTrading Platform should check out Qt Bitcoin Trader from source forge. Or if your a bit more advanced there is a nice program you can try for free and the trial is the the same as the full version (I have used both since I bought it shortly after) and that is called LeonarDo by margin software a very talented German company.
Qt Bitcoin Trader - https://sourceforge.net/projects/bitcointrade Leonardo - https://marginsoftware.de/product.html
On 19 June 2011, a security breach of the Mt. Gox Bitcoin exchange caused the nominal price of a bitcoin to fraudulently drop to one cent on the Mt. Gox exchange, after a hacker allegedly used credentials from a Mt. Gox auditor's compromised computer illegally to transfer a large number of bitcoins to himself. They used the exchange's software to sell them all nominally, creating a massive "ask" order at any price. Within minutes the price reverted to its correct user-traded value. Accounts with the equivalent of more than US$8,750,000 were affected. Source Source Source Source
On July 2011, the operator of Bitomat, the third largest Bitcoin exchange, announced that he lost access to his wallet.dat file with about 17,000 bitcoins (roughly equivalent to US$220,000 at that time). He announced that he would sell the service for the missing amount, aiming to use funds from the sale to refund his customers. Source
In August 2011, MyBitcoin, a now defunct Bitcoin transaction processor, declared that it was hacked, which caused it to be shut down, paying 49% on customer deposits, leaving more than 78,000 bitcoins (equivalent to roughly US$800,000 at that time) unaccounted for. Source Source
In early August 2012, a lawsuit was filed in San Francisco court against Bitcoinica — a Bitcoin trading venue — claiming about US$460,000 from the company. Bitcoinica was hacked twice in 2012, which led to allegations that the venue neglected the safety of customers' money and cheated them out of withdrawal requests. Source Source
In late August 2012, an operation titled Bitcoin Savings and Trust was shut down by the owner, allegedly leaving around US$5.6 million in Bitcoin-based debts; this led to allegations that the operation was a Ponzi scheme. Source Source Source Source. In September 2012, the U.S. Securities and Exchange Commission had reportedly started an investigation on the case. Source
In September 2012, Bitfloor, a Bitcoin exchange, also reported being hacked, with 24,000 bitcoins (worth about US$250,000) stolen. As a result, Bitfloor suspended operations. The same month, Bitfloor resumed operations; its founder said that he reported the theft to FBI, and that he plans to repay the victims, though the time frame for repayment is unclear. Source
On 3 April 2013, Instawallet, a web-based wallet provider, was hacked, resulting in the theft of over 35,000 bitcoins which were valued at US$129.90 per bitcoin at the time, or nearly $4.6 million in total. As a result Instawallet suspended operations. Source
On 11 August 2013, the Bitcoin Foundation announced that a bug in a pseudorandom number generator within the Android operating system had been exploited to steal from wallets generated by Android apps; fixes were provided 13 August 2013. Source
A Bitcoin bank, operated from Australia but stored on servers in the USA, was hacked on 23 and 26 October 2013, causing a loss of 4100 bitcoins, worth over A$1 million. Source
In Hong Kong a Bitcoin trading platform owned by Global Bond Limited (GBL) vanished with 30 million yuan (US$5 million) from 500 investors on 26 October 2013. Source
After the arrest of SilkRoad's owner, the FBI claims it has confiscated over 144,000BTC. Source
The debate concerning the Sheep Market heist of 96,000+ BTC is still ongoing, there has been talks of the owners simply taking the money and running, while the owners claim that their operations were "hacked". Source
301BTC were taken from SatoshiChrist's blockchain.info wallet. Attack method unknown, what is known is lack of 2FA may have lead to attacks capturing his wallet information from either phone or system.Found a great thread over at Bitcointalk.org containing even more heists:
Besides the aforementioned Bitoinica, Bitcoin.cx and Bitcoin faucet among others were affected by this attack. Response by Linode
In 2011 a miner and Bitcointalk.org user "Allinvain" awoke to find 25,000BTC were transferred out of his wallet. He believes his system may have been infected by the attackers. SourceWill be updating periodically. Leave heist information and sources in comments, thanks!
[index]          
MtGox Bitcoins To BTC Bitcoins BITCOIN PRICE , BITCOIN FUTURE in doubt http://youtu.be/eO-yrpQpIT8 What is NAMECOIN BITCOIN'S First Fork http://youtu.be/oBkh... bitcoin wiki, bitcoinwisdom, bitcoin worth, bitcoin wikipedia, bitcoin wallet android, bitcoin webhallen, bitcoin watch, bitcoin worth graph, bitcoin wallet windows, w bitcoin, bitcoin w polsce ... Support MadBitcoins: 1PtAdf3LbwrPfX87dQ8TMuKEzuMUZtg1z1 March 10, 2014 -- San Diego, California -- Red, White and MadBitcoins -- MadBitcoins Subscriber Index 2985 ... This video is unavailable. Watch Queue The Curse of Mt Gox Still Haunts Us - Bitcoin Crash - Duration: 9:24. Bitraged 5,615 views. 9:24. 80 Trillion Dollar Bitcoin Exit Plan - Duration: 22:12. Mineable 340,482 views. 22:12. Mix Play ...