Justin Sun, the co-founder of TRON, expressed his opinion about the Venezuelan cryptocurrency Petro and wrote a tweet to Nicolas Maduro with an appeal to link it with Tron, not with Ethereum.
Justin Sun’s post appeared after Maduro’s announcing the adoption of the “Sovereign Bolivar”. According to the President of Venezuela, this set of measures will overcome the economic crisis and hyperinflation, “significantly improve the position of workers” and lay the foundation for the country’s socio-economic prosperity. After a while, the tweet disappeared from the page of the co-founder of TRON, but it was published by numerous media outlets.
This is not the first time that Justin Sun has spoken against Ethereum, he has repeatedly stated that “the Tron network is much faster than Ethereum’s.” According to him, TRX has a significantly higher transaction speed on the network, referring to figures such as 2000 transactions per second in the Tron network compared to 25 transactions on the Ethereum one.
Justin Sun’s reaction caused mixed reviews among members of the cryptocurrency community. Someone said that the Venezuelan economy and its Petro is the last thing that Tron might need, that it would destroy the coin and force all American traders to leave. Others thought that the adoption of TRX by the government would be an obvious success.
In the recent couple of years, Asia has become the region that is ahead of everybody when it comes to technologies. Anything that is new, unique and has potential is quickly being implemented in the East, while the rest of the world is just thinking it over. Certainly, blockchain and digital assets are no exception to the rule. Dozens if not hundreds of businesses, companies and projects in China, Japan, South Korea etc. are creating new concepts, ideas and solutions using cutting edge technologies, like blockchain and distributed ledger technology, in many different spheres, especially fintech.
What is FUBT?
FUBT Exchange is a Hong Kong-based project, the main focus of which is maintaining a blockchain platform for trading digital assets. The exchange evolved from the FUBT Station. In July of 2017, first transaction were conducted through the upgraded platform. Afterwards the developers launched their own token – BXB, which skyrocketed by almost 25 times on the market. FUBT kept growing and expanding. At the beginning of 2018, it opened up departments in other regions of Asia, namely Seoul, Cambodia, Tokyo, Taiwan, Phnom Penh and even one in New York. Now FUBT is considered one of the leading blockchain platforms for trading digital assets in Asia.
Strong sides and interesting facts about FUBT:
In June of 2018, the platform already had around 650 thousand active users which serves as perfect evidence of the project’s trustworthiness;
FUBT’s daily capital turnover equals to around 400 million dollars;
The platform is expanding globally and provides multi-language support for better understanding of users from different parts of the world;
The transactions within FUBT are conducted in a fast and simple manner, moreover, they are protected against security breaches;
The exchange provides a variety of digital assets, overall about 100 kinds;
Four crypto trading areas (BTC, ETH, FBT) are available on the platform;
FUBT has a mobile app both for iOS and Android;
The team of the project consists of real professionals from the fields of banking, fintech, blockchain, investment etc.
Core values of FUBT are “Integrity, Innovation, Inclusiveness, and Win-Win”;
The project has ambitious goals of expanding further and establishing itself firmly on the market;
FUBT team is constantly looking for new clients, partnerships, opinion leaders and pays a lot of attention to user feedback in order to improve and prosper.
More details on this promising and innovative platform can be found here.
Nowadays pretty much everyone has an opportunity to become a successful entrepreneur and investor. With the emergence of cryptocurrency and blockchain, perhaps it has become even more accessible.
Today, we invited to talk Marco Robinson– a man who not only managed to become a world-famous investor, but also created a number of successful projects.An Award Winning Entrepreneur, Prime Time TV Star, Philanthropist, #1 Bestselling Author, Winner of the iProperty People’s Choice Awards Best Real Estate Company, World Renowned Property Investor, and Restaurateur – he knows how to make money work for you better than anyone.
Hello, Marco. First of all, let’s discuss your success as an investor. At what point in your life did you start investing in real estate, and why this particular area was one of the first you chose?
I first invested in real estate fairly late in life at 40 years old after I had a great business success and had quite a bit of money I didn’t know what to do with.
It was an interesting time in 2009 as it was the subprime crisis, I discovered properties were very cheap especially in the USA, and I found that fascinating so I started to study what made Real Estate go up and go down and wondered why this happened continually…I got so into this I decided to write a book about property cycles and what made them do that and I developed an algorithm based on four main drivers that triggered property price increases, they were:
Cycles (economic cycles) for example in the UK there is a proven 18-year cycle
Population growth. (Rent prices and property increased basically supply and demand.
Structure plan. (What they are gonna build in the area, for example, new manufacturing, schools, etc)
Local and individual property taxes & including friendly states and governments (some taxes are so high you can easily get negative cash flow)
When did you first learn about the blockchain technology, and how did it help you in the development of your projects?
I was introduced to Bitcoin in 2015.
I saw as a real threat to the banking system which I liked very much and after some detailed research discovered it was a genuine reaction, I felt, to the US sub prime crisis which made 40 million people homeless. I loved the security of it and especially it’s decentralization, that it could not be shut down and the founder very cleverly could not be identified.
I was also looking for a loyalty solution to connect all my businesses including my restaurants, my cosmetics, my property, my travel, my education and film companies, a currency everybody could use that I could keep within my own eco-system, so I could keep my clients loyal and grow my client based with the best value proposition in the market place. That currency I created is called NAKED DOLLARS and is now listed on LATOKEN.
Besides NKD, what do you think about investments in cryptocurrency in general?
It’s a brand new sector and to be frank not even the end of day one yet. A lot of cowboys presented a fabulous whitepaper in 2016 and 2017 and made a fortune off speculation…2018 saw a massive correction and the crypto market lost 80% of its value in one year because of this and because not many people had a real product.
It is here to stay, only just yesterday JP MORGAN created their own cryptocurrency, governments are creating their own, they have to as the FIAT CASH currency system is not sustainable, a new debt system has to be created or the majority of the world will go bankrupt.
Bitcoin is the SAFEST currency in the world, it cannot be hacked, it has no founder, no company, no office, and no assets, yet it is the best performing asset of all time increasing 350,000% in ten years! You cannot ignore it at all!
Are there any startups in the cryptocurrency world which you have invested or would like to invest in?
There are very few I would because of the losses in 2018. New projects don’t just have to have great technology, they must have great founders with great track records in business and great profiles in terms of influence.
How do you feel about buying, for example, real estate for Bitcoin?
I’d rather keep the bitcoin it gives a higher return potentially. I would rather use other cryptocurrency like Ethereum to buy real estate.
However I also use a profit strategy, so when I make great profits in bitcoin I will buy real estate as real estate gives me great cash flow.
In what areas, do you think, the use of blockchain technology is necessary?
I think it’s critical in pretty much every industry to prove the origins of each product or service and the security of it, especially in supply chain businesses such as gold and diamond mining to supply to make sure they are not conflict diamonds etc. I also love the adoption to health and medicine, for example, if someone has an accident one drop of blood or even a thumbprint can track the entire medical history of that person in seconds and the perfect medication can be administered!
You are a well-known philanthropist and are famous for your good deeds for the homeless and the needy, because you know very well what it feels like to not have a home. Let’s talk about an 18-year-old teenage mother Holly, a part of the TV Show “Get a House for Free.” Have you thought about not just “giving a fish” to people, but also trying to “teach people to fish”, that is, to give the needy the knowledge of how to “get back on their feet”?
I’m already now doing that with FREEDOMX, www.freedomxmovement.org where I have created a new charity social impact program where the victims of homelessness are rewarded on a merit based philosophy: “I help you if you help someone else” this is CONDITIONAL ALTRUISM, so we only help them if they want to be helped and IF they want to be microfinanced for a coffee shop on a bicycle, for example, they have to be certified and trained which lowers risk and creates a new economy for people to thrive in.
In what areas besides real estate, restaurant business, TV-shows would you like to or plan to realize yourself?
I’m making my first Hollywood movie “legacy of lies” next month, I helped fund the whole movie and my profits will be going to help the homeless
The CEO of the project Circle, backed up by the major bank Goldman Sachs, Jeremy Allaire started a thread on Reddit together with his co-workers, where they debated the accomplishments of the company in the recent time, talked about prospects for the future and discussed the overall situation on the crypto market.
According to the representatives of Circle, one of the main issues with crypto in the US is the lack of regulatory framework and, most importantly, the inability of the Securities and Exchange Commission to clearly define cryptocurrencies as belonging to a particular type of assets.
“There absolutely needs to be more regulatory clarity to really make this fly — in particular around who can issue these, how they can be stored and transmitted, and what markets can allow their trading. There’s a lot of attention on this and we absolutely expect to see these issues resolved and for far more real world experiments to hit the markets this year,” said Jeremy Allaire.
Also, the CEO of Circle claimed that the US should follow the example of France and have a separate kind of taxation for crypto-to-crypto transactions.
Slowmist, Chinese-based blockchain journal, has released a full report on the attack. The earliest hit occured on January 5, the culprit hacked some exchanges, like Bitrue, Coinbase, Gate.io, however, this was noticed only two days later.
The first action was a transfer of more than 5000 ETC from Binance to the criminal’s address 0x24fdd25367e4a7ae25eef779652d5f1b336e31da. This amount of coins moved to a mining node, that created block 7254355. After that, the hacker deposited 4000 ETC to Bitrue exchange in block 7254430, yet, this transaction vanished from the Ethereum Classic chain. Another 9000 ETC was stolen in the same way. The Bitrue address0x2c9a81a120d11a4c2db041d4ec377a4c6c401e69 no longer exists, and the official history is clear. Though, Bitrue managed to save some records:
to double coins – just move the coins to other addresses.
One of the biggests victims is Coinbase exchange. It was estimated that the loss from the attack accounts for $1 million. The above-mentioned report also provides the information about two attacker addresses which were blackmailed by Coinbase later. They are:
The “51% Attack” is over for now. All we can do is to estimate the losses and to take measures so that it will not happen again.
The report also stated:
“[W]e recommend that all digital asset services platform block transfers from the above malicious wallet addresses. And strengthen the risk control, maintain a high degree of attention, and be alert to double spend attacks that may erupt at any time.”
Based on the December’s document, the revenue from mining cryptocurrency has dropped down significantly which implies that immediate measures must be taken.
One of the biggest pitfalls of mining is the amount of electricity consumed and its high price. Thus, GMO made a decision to relocate its main mining center into a different area, where electricity will cost way less.
“We will relocate the mining center to a region that will allow us to secure less expensive power supply,” reads the report.
Moreover, the company refuted all the rumors regarding its alleged plans of giving up mining completely. Since 2017, when GMO first engaged into mining, it has earned massive profits and still sees potential in crypto.
As we may see in the statistical data, the mining reward for Bitcoin increased a lot in the last month of December, whereas Bitcoin Cash suffered a hard fall. But the crash of the crypto market and Bitcoin in particular could not be controlled by GMO and affected its business quite badly, making it “move houses”.
An operator of Ethereum Classic mining pool has confirmed that a 51% attack has hit ETC network on January 7. This attack refers to a malicious attack on blockchain when hackers obtained more than 50% of mining hashrate of network.
We can confirm that there was a successful 51% attack on the Ethereum Classic (#ETC) network with multiple 100+ block reorganization. We recommend all services to closely monitored the chain and significantly increase required confirmations.
The hackers got the ability to reorganize blocks and even replace them on blockchain, moreover, the culprits are able to “double spend” coins, i.e. the same coins can be transferred several times.
The rumours that ETC has been experiencing a hacker attack originally appeared on CoinNess, Chinese journal on the 6th of January. The report says that SlowMist, Chinese blockchain security firm, was the first to notice the attack.
The article reads:
“The ETC community followed up on the development of the incident immediately and learned that there is a private mining pool…that achieves more than 50% of the total network hashrate at certain times.”
The spokesman of Ethereum Classic has responded in Twitter, saying the network “operated normally”.
There have been rumors of a possible chain reorganization or double spend attack.
From what we can tell the ETC network is operating normally.
Later, without any confirmation or comment, the official account of Ethereum Classic retweeted the report made by Chinese journal.
On January 7, the cryptocurrency exchange Coinbase has posteda report saying that they detected this attack on the 5th of January. Mark Nesbitt, Coinbase Security Engineer, who wrote that report, stated that since the disclosure of malicious attack, there had been 8 chain reorganizations worth approximately $460,000.
Ethereum Classic refuted to the report of Coinbase, claiming that the later did not “connect with ETC personnel regarding the attack.”
Regarding @coinbase account of recent events: they allegedly detected double spends but unfortunately did not connect with ETC personnel regarding the attack. This is still very much an ongoing process. https://t.co/in1OGdV8T9